August 31: Nepal Electricity Authority is projected to export electricity worth Rs 16 billion in the current fiscal year.…
August 31: Nepal Electricity Authority is projected to export electricity worth Rs 16 billion in the current fiscal year.…
August 30: Jazeera Airways of Kuwait is set to operate flights at Bhairahawa-based Gautam Buddha International Airport (GBIA) on a daily basis from September 16, according to the Civil Aviation Authority of Nepal…
August 30: Chinese automobile manufacturer GWM displayed six new brands of vehicles produced by the company during the recently held Chengdu Motor Show 2022 in Sichuan Province of China.…
August 30: The poor people who owe a huge amount of money to fraud moneylenders in Janakpur recently shared their ordeal with the members of the government-formed panel on how the lenders charge exorbitant interest…
August 30: The Pashupati Area Development Trust has decided to reopen the east entrance of Pashupatinath this year for the convenience of the devotees visiting the Pashupatinath Temple on the occasion of Teej…
August 30: The Supreme Court (SC) has asked for written clarification from Kathmandu Metropolitan City’s Mayor Balen Shah within seven days in response to a petition filed against the mayor on contempt of…
August 30: Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the Nepal Rastra Bank (NRB) would push the private sector on the brink of…
August 30: Preparations are underway to make the Social Security Fund (SSF) more effective. The contribution-based social security scheme was launched with much fanfare by the then government led by KP Sharma Oli in…
August 30: Minister for Energy Pampha Bhusal has said the government was working to establish a prosperous nation through industrialization, transportation service, enhancing agriculture and irrigation system and the use of electric appliances. …
August 29: All the seven provinces have put forward various plans for the promotion of tourism industry in their respective…
August 29: The prospect of operating Pokhara Regional International Airport from January next year has threatened the business of paragliding at nearby Sarangkot.…
August 29: The Government of Nepal and the World Bank have signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development…
August 29: Kanchanpur Customs Office, Gaddachauki is facing problem testing pesticide contents in fruits and vegetables imported from India, as it does not have its own pesticide testing…
August 29: Banks have started competition among themselves especially over the long-term fixed deposit…
August 29: fter a four-and-half-decade of wait, the Pokhara Regional International Airport is now almost complete.…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 31: Nepal Electricity Authority is projected to export electricity worth Rs 16 billion in the current fiscal year. According to the Executive Director of NEA Kulman Ghising, Nepal will become a full-fledged electricity exporting nation after two years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last 85 days, NEA exported electricity worth Rs 6 billion to India. It is a positive sign for the country suffering from heavy trade deficit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, 364 MW of electricity is being exported to India daily. The NEA is taking initiative to export around 600 megawatts of electricity. Preparations are underway to export 456 MW of electricity generated by Upper Tamakoshi and 110 MW from other projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the NEA, Kulman Ghising, informed New Business Age that they are holding regular talks with the Indian side and a conclusion will be reached soon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“During the upcoming winter, some amount of electricity may have to be imported, but the quantity will be very low. From next year, we will reduce imports to zero and there will be only export," said Ghising.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The authority has started exporting 39 megawatts of electricity to India from two projects located in Nuwakot since last autumn. NEA started selling electricity in India’s energy exchange market from June 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Ghising said that since the weather in India is hot during the rainy season, the electricity demand is high, and the price rises accordingly. The authority has been able to sell electricity for as much as Rs 19.20 per unit during peak demand, which is much more than the price in the domestic market. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NEA has added 741 MW of electricity to the national grid in the last fiscal year alone. Director General of Department of Electricity Development Sanjiv Dev said that 1,000 megawatts of electricity will be added in the current fiscal year. At present, the country's total electricity capacity connected to the national grid has reached 2,269 megawatts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the production of electricity in the country is increasing, there are concerns due to lack of adequate transmission lines for more export. But Ghising, the executive director of the authority, denied it. Currently, the transmission system has been connected with different states of India, he said. Ghising said that in the past, only the issue of importing electricity was given priority, but in recent times, the matter of export has been prioritized. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => 'electricity, export, India, NEA, Kulman, Ghising, Nepal, transmission, line, megawatts, national, grid', 'description' => '', 'sortorder' => '15637', 'image' => '20220831104945_elec.jpg', 'article_date' => '2022-08-31 10:48:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15895', 'article_category_id' => '1', 'title' => 'Jazeera Airways to Operate Daily Flights at GBIA from September 16 ', 'sub_title' => '', 'summary' => 'August 30: Jazeera Airways of Kuwait is set to operate flights at Bhairahawa-based Gautam Buddha International Airport (GBIA) on a daily basis from September 16, according to the Civil Aviation Authority of Nepal (CAAN).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: Jazeera Airways of Kuwait is set to operate flights at Bhairahawa-based Gautam Buddha International Airport (GBIA) on a daily basis from September 16, according to the Civil Aviation Authority of Nepal (CAAN).</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"">At present, the airways has been conducting three flights a week at the airport (on Mondays, Tuesdays and Fridays) since it started direct commercial flights between Nepal and Kuwait in May. The airline has completed the due process for commercial flights, said CAAN Spokesperson Jagannath Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the airlines, additional flights have been announced, thanks to the increasing occupancy rates. The airline company is operating flights to and from Nepal, India, Pakistan, Sri Lanka and Europe. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, only Jazeera Airways has been granted permission to operate flights at the newly-built airport that came into operation since May 16, said Niraula, adding that other airlines have also shown interest to operate flights at the airport which is strategically important from the view of religious tourism due to its proximity to Lumbini – the birthplace of Lord Buddha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wizz Air, a Hungarian airline, is also scheduled to operate flights to and from the airport starting from October 30, said Niraula. The flights will take place between Abu Dhabi in United Arab Emirates and Nepal three days a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, 26 airlines including three Nepali companies have been conducting international flights at the Tribhuvan International Airport. Before COVID-19, over 30 airlines were operating international flights, said Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the international flights that were marred by the global COVID-19 have been gradually returning to normalcy. Now, there are 70 percent occupancy rates under international flights, added Niraula. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15636', 'image' => '20220830080845_1661848231.jazera.jpg', 'article_date' => '2022-08-30 20:08:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15894', 'article_category_id' => '266', 'title' => 'GWM Unveils Multiple New Energy Models at Chengdu Motor Show 2022', 'sub_title' => '', 'summary' => 'August 30: Chinese automobile manufacturer GWM displayed six new brands of vehicles produced by the company during the recently held Chengdu Motor Show 2022 in Sichuan Province of China. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Chinese automobile manufacturer GWM displayed six new brands of vehicles produced by the company during the recently held Chengdu Motor Show 2022 in Sichuan Province of China. According to the company, the event was held on August 26 where the newly launched vehicles became quite popular among the visitors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“GWM displayed various eye-catching new energy models to all media outlets and visitors in several exhibition halls,” reads a statement issued by the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the show, a variety of hybrid electric vehicles under HAVAL, TANK and WEY brands were displayed in a bid to strengthen the hybrid product “matrix” of GWM.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The other two pure electric brands including ORA and SAR also won massive attention and became the spotlight with their innovative interactive forms and differentiated styles, the company added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"As a pioneer in transformation of conventional cars toward electrification and intelligentization, GWM has been insisting on speeding up the implementation of the new energy strategy," commented NetEase, China's leading news media. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">HAVAL is positioned as a "New Energy SUV Expert", and all its models displayed include H6-HEV, H6-PHEV and H-DOG.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">TANK also exhibited two new energy models namely TANK300 HEV and TANK500 PHEV. These two models can integrate reliable and stable off-road capability with powerful new energy power, allowing customers to get an off-road experience while enjoying the green and convenient travel at the same time, reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, WEY brought Coffee 01, Latte DHT-PHEV and other high-end intelligent new energy models at the show, thus leading to the new trend of intelligent driving. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">GWM said it has established a development strategy that focuses on multiple technology routes, such as hybrid electric and pure electric, to accelerate the layout in the new energy field.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of R&D, the company has scaled up investment and said that by 2025, GWM will invest a total of CNY 100 billion for new energy and intelligence-based technologies to create a greener, smarter and safer products for users.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15635', 'image' => '20220830074924_gwmmm.jpg', 'article_date' => '2022-08-30 19:48:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15891', 'article_category_id' => '1', 'title' => 'Victims of Loan Sharks Recount their Ordeal with Taskforce Members in Janakpur ', 'sub_title' => '', 'summary' => 'August 30: The poor people who owe a huge amount of money to fraud moneylenders in Janakpur recently shared their ordeal with the members of the government-formed panel on how the lenders charge exorbitant interest rate. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The poor people who owe a huge amount of money to fraud moneylenders in Janakpur recently shared their ordeal with the members of the government-formed panel on how the lenders charge exorbitant interest rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ram Briksha Mahara of Bateshwor Rural Municipality-2 in Dhanusha shared how he was made victim by the loan sharks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The victims shared their stories during an interaction held among the victims and people's representatives the recommendation committee formed by the Home Ministry to control crime on exorbitant charging of interest on loan provided by informal money lenders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mahara, one of the victims of the illegal act, said he received threats from the lenders for seeking his land plots that the loan shark claimed after failing to repay the loan. According to Mahara, he was forced to register his land plot in the name of a lender after failing to pay Rs 175,000 in debt taken a decade ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In addition, the moneylender made a document for a loan of Rs 600,000," Mahara said adding that he has not received the land plot despite repaying the amount. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subodh Sahu of Mithila Municipality-1 also shared that he was forced to sign on document seeking millions in dues to a moneylender from Janakpur for receiving Rs 2.5 million in loan some six years ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Sahu, the lender is still seeking Rs 1.5 million although he repaid the loan by selling his land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the victims said that the loan sharks have prepared documents claiming five times more money than the real amount; their land plots put in collateral were not returned and they were rendered landless. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon hearing the complaints from the victims, Joint Secretary and Coordinator of the Taskforce Dr Bhisma Kumar Bhusal said they were touched by the sufferings of the locals at the hand of the loan sharks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We had not even imaged that the issue was such chronic," Dr Bhusal said, adding that the taskforce has taken this issue seriously and would submit its report to the government on the basis of facts and evidences. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Coordinator Dr Bhusal also said there was no deadline to file a complaint against the loan sharks and the victims could submit their applications anytime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief District Officer of Dhanusha Surendra Poudel said a total of 192 applications relating to the matter have been lodged in Dhanusha district and investigations were initiated over them.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15634', 'image' => '20220830020821_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2022-08-30 14:07:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15892', 'article_category_id' => '1', 'title' => 'East Entrance of Pashupatinath Temple Reopened after 15 Years ', 'sub_title' => '', 'summary' => 'August 30: The Pashupati Area Development Trust has decided to reopen the east entrance of Pashupatinath this year for the convenience of the devotees visiting the Pashupatinath Temple on the occasion of Teej festival. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The Pashupati Area Development Trust has decided to reopen the east entrance of Pashupatinath this year for the convenience of the devotees visiting the Pashupatinath Temple on the occasion of Teej festival today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The east entrance is going to be reopened for the first time after 2065 BS. The east entrance was closed after the incident of 2065 in which the main priest of Pashupatinath Temple was changed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Culture Conservation Division of the PADT, Gauri Shankar Parajuli, told RSS that arrangements have been made for the devotees coming from Koteshwor-Tinkune-Sinamangal to enter Pashupatinath Temple from east entrance via Ram temple-Aryaghat after entering from Tilganga tourist ticket counter area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arrangement of four queues has been made for the devotees visiting the Pashupathinath on the occasion of Teej. Devotees can enter Pashupatinath Temple area from Mitrapark area from the second queue while arrangement has been made for devotees to enter Pashupatinath area from Gaushala-Pingalasthan-Panchadewal area from the third queue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, people using the fourth queue can enter the Pashupatinath temple via Guheshwori-Umakunda-Kailash in the southern part. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PADT has made preparation to mobilize women security personnel and volunteers inside the main temple. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15633', 'image' => '20220830021355_CKK-KTM-TeejPoojac.jpg', 'article_date' => '2022-08-30 14:13:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15893', 'article_category_id' => '1', 'title' => 'SC Seeks Clarification from KMC Mayor on Contempt of Court ', 'sub_title' => '', 'summary' => 'August 30: The Supreme Court (SC) has asked for written clarification from Kathmandu Metropolitan City’s Mayor Balen Shah within seven days in response to a petition filed against the mayor on contempt of court. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The Supreme Court (SC) has asked for written clarification from Kathmandu Metropolitan City’s Mayor Balen Shah within seven days in response to a petition filed against the mayor on contempt of court. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a directive on the contempt of court, Justice Hari Krishna Karki on Monday asked Mayor Shah to furnish written response himself or through his representatives as per the law within seven days except for the time incurred for travel. The apex court has also asked why Mayor Shah should not be punished as per the demand of the petitioner. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case on contempt of court was filed over the statements made by Mayor Shah on a writ petition lodged against the move of the Kathmandu Metropolitan City to demolish the infrastructure of Norvic Hospital allegedly built by encroaching upon the public land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Advocate Dipak Raj Joshi filed the petition at the SC against Mayor Shah on the contempt of court.-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15632', 'image' => '20220830021935_Supreme Court.jpg', 'article_date' => '2022-08-30 14:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15890', 'article_category_id' => '1', 'title' => 'Private Sector Concerned about New Guidelines on Working Capital Loan', 'sub_title' => '', 'summary' => 'August 30: Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the Nepal Rastra Bank (NRB) would push the private sector on the brink of crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the Nepal Rastra Bank (NRB) would push the private sector on the brink of crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at an interaction organized jointly by Madhes chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and the Economic Reporters Association in Birgunj on Monday, the stakeholders said that the new guidelines on working capital loan have added further burden to the private sector that is still struggling due to the impact of coronavirus pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of the Madhes chapter of FNCCI Ganesh Prasad Lath claimed that the limit on working capital loan will likely increase the operating cost of business organisations. The private sector is worried after the central bank recently issued the guidelines that have limited their access to working capital loan to 20 to 40 percent of the company’s annual turnover.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The central bank has ignored the possible risks that the average businessmen might face in the name of controlling economic activities and therefore implementation of this provision might cause serious problems,” said Lath.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the government has adopted a policy to curb economic activities at a time when it has increased its revenue collection target. Such a contradictory move has only created more confusion, says Lath.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan to 20 in case of a company whose annual transaction is less than Rs 20 million. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairperson of Birgunj Bankers’ Group Rohini Acharya said that the central bank tightened the noose on working capital loan after it was found that such loans were spent on unproductive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Financial crisis has escalated after the companies started taking working capital loans and used them for the purchase of housing and lands,” said Acharya.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, chairman of Birgunj Chamber of Commerce Subodh Kumar Gupta said that the new guidelines will likely shut down many businesses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the government has formulated many policies to recover loans from the industrialists and businessmen but there isn’t much laws that ensure business community from recovering their money from the market. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We have become tired of raising the issue of Credit Act. But the government is not serious about this issue. It has never paid attention to the problems of the business community,” said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He claimed that a business cycle in import business requires at least one year because it takes two to three months for importing goods and then the goods get stored in warehouse before they are sold. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Now we have to either stop importing goods or stop storing goods in warehouses. It seems that the new guidelines have been issued to discourage business activities,” said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of Nepal India Economic Forum Ashok Kumar Temani said that the new guidelines have failed to address the requirements of business cycle. According to him, the guidelines issued by Nepal Rastra Bank focuses on only one aspect of economy and therefore it will have negative impact in overall economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Pradeep Kedia, former president of Birgunj chapter of FNCCI, said that it will be impossible for them to recover the loans given earlier if the banks tighten credit flow. He said that the banking system is not free from flaws and accused the banks of not monitoring the loans properly. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This problem has surfaced because the banks issue loans by looking at the background of the people seeking loans rather than the details of the project. They provide loans to well off people with blind eyes but they are reluctant to provide loans to the general public even if they present proposals of good projects,” said Kedia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Entrepreneur Prakash Khandelwal said that the rules introduced in the banking sector one after another have created an environment in which big business is not possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15631', 'image' => '20220830012039_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-08-30 13:20:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15889', 'article_category_id' => '1', 'title' => 'SSF Preparing to Extend Medical and Other Facilities', 'sub_title' => '', 'summary' => 'August 30: Preparations are underway to make the Social Security Fund (SSF) more effective. The contribution-based social security scheme was launched with much fanfare by the then government led by KP Sharma Oli in 2018.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Preparations are underway to make the Social Security Fund (SSF) more effective. The contribution-based social security scheme was launched with much fanfare by the then government led by KP Sharma Oli in 2018.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Four years down the line, the fund is preparing a draft to provide up to Rs 1 million for regular contributors in case they suffer from fatal disease. At present, there is no provision to provide such amount to the contributors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, the contributors can avail up to Rs 100,000 under the medical facility in case they fall sick. Pregnant women are also provided medical facilities. Officials of SSF say that they are doing homework to add fatal disease to the scheme and it will be implemented soon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fund is also preparing to increase the coverage of medical facilities. So far, the fund has been bearing medical cost of the contributors alone but the facility will soon be extended to six family members, says Bivek Panthi, director of SSF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Panthi, the SSF is holding discussions to prepare the draft. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The draft is being prepared by including suggestions from the private sector as well as organisations from across the country,” Panthi told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We will finalize the draft soon,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the SSF is also planning to launch scholarship scheme. Panthi informed that the contributors who have contributed for at least three years will be entitled to the scholarship facility. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We are currently discussing who shall we provide the scholarship and how much shall be the scholarship amount,” Panthi further said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the fund Kapil Mani Gyawali informed that they were working to ensure that the SSF becomes more dynamic. He said that the draft will include as much suggestions as possible from the private sector workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “The upcoming schemes will take the SSF to new heights,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He informed that the SSF has already started providing health facilities through the automated electronic system. Gyawali believes that the contributors will not have to face the burden of submitting the medical bills to the SSF in person. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The contributors of SSF are getting hassle-free medical services from more than one hundred hospitals across the country including TU Teaching Hospital, Bir Hospital, National Trauma Centre, Patan Hospital, and Kathmandu Medical College among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The contributors need to show their identity cards with their SSF number clearly visible to avail facilities from these hospitals. Earlier, the contributors had to pay the bills at these hospitals themselves and would get refunded later after presenting the bills to the SSF. Now with the automated system in place, the contributors only need to pay 20 percent of the total amount. In case of an accident, the SSF will refund 100 amount incurred in the treatment to the respective hospital. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The SSF has also started working outside the valley by setting up branch offices. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fund has recently launched its digital app to attract the contributors. As of August 27, more than 356,000 workers affiliated to 17000 organisations of the private sector have been affiliated to the SSF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the SSF is not free from controversy. It still has to rely on loans for meeting the day-to-day office expenses and to pay the salary of the officials.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15630', 'image' => '20220830112448_SSF (1).jpg', 'article_date' => '2022-08-30 11:24:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15888', 'article_category_id' => '1', 'title' => 'Govt Stresses on Use of Electric Appliances for Prosperous Nation', 'sub_title' => '', 'summary' => 'August 30: Minister for Energy Pampha Bhusal has said the government was working to establish a prosperous nation through industrialization, transportation service, enhancing agriculture and irrigation system and the use of electric appliances. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: Minister for Energy Pampha Bhusal has said the government was working to establish a prosperous nation through industrialization, transportation service, enhancing agriculture and irrigation system and the use of electric appliances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a news conference organised at the ministry on Sunday, Minister Bhusal said that the ministry has proposed programmes with the notion that power supply is for “our bright future not merely for illumination”. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhusal said that the government has prioritized development of substations, transmission and distribution lines and their advancement to avail the citizens with quality power supply. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Minister Bhusal stated that her 13-month-long tenure as the energy minister was fruitful and effective adding that the key achievement of made during this time was the deal for Nepal's energy export. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, Nepal is exporting 364 megawatts of energy every day. </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"">"I am the sixth one to lead the energy ministry on behalf of the CPN (Maoist Centre). Power outage came to an end during the time when a Maoist leader was the energy minister and energy export has also started during my tenure," Minister Bhusal elaborated her achievement. </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"">"Furthermore, sustainable approach for development of energy sector has been adopted. This shall help narrow down (country's) trade deficit and work for other aspects of economic development," said Minister Bhusal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15629', 'image' => '20220830104246_Breville.jpg', 'article_date' => '2022-08-30 10:42:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15887', 'article_category_id' => '1', 'title' => 'What are the Tourism Promotion Plans of All Seven Provinces?', 'sub_title' => '', 'summary' => 'August 29: All the seven provinces have put forward various plans for the promotion of tourism industry in their respective areas.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 29: All the seven provinces have put forward various plans for the promotion of tourism industry in their respective areas. All the seven provinces along with the center have put forward a strategic plan to revive the tourism industry which has been badly affected by the coronavirus pandemic.</span><br /> <span style="font-family:"Arial","sans-serif"">Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha says that the ministry has taken the initiative to celebrate the coming years from 2023 to 2033 as the Tourism Decade. We present the tourism promotion plans of all seven provinces in brief:</span><br /> <br /> <strong>Province 1</strong><br /> Minister for Culture and Tourism of Province 1, Khinu Longwa Limbu says that the state government has formulated the Tourism Act in 2076 and discussions have been held with inter-provincial and private sector tourism entrepreneurs for the development of tourism in the province.<br /> <br /> <strong>Madhesh Province</strong><br /> Minister for Industry, Tourism and Forestry of Madhesh Province Shatrudhan Mahato says that Madhesh Province has given special priority to religious tourists. Vishal Ghimire, secretary of the province, informed that the development of the tourism sector here will accelerate if there is direct air flights between Madhesh province and India.<br /> <br /> <strong>Bagmati Province</strong><br /> Madan Koirala, secretary of the Ministry of Culture and Tourism of Bagmati Province, says that the province has declared the current fiscal year as a year for travelling. The state government has also allocated a budget of Rs 10 million for this purpose.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province has announced 10 new tourist destinations. The province has allocated Rs 2 billion in the current fiscal year for the tourism sector.</span><br /> <br /> <span style="font-family:"Arial","sans-serif""><strong>Gandaki Province</strong><br /> Gyanendra Paudel, secretary of the Ministry of Tourism, Industry, Commerce and Supply of this province, says that the province is trying to forward the plan of 'one local level, one tourist destination'. Gandaki Province had issued the Tourism Act on August 9.</span><br /> <br /> <strong>Lumbini</strong> <strong>Province</strong><br /> Mahesh Chandra Neupane, secretary of the Ministry of Tourism, Rural and Urban Development of Lumbini Province, says that the province has been conducting tourism activities after formulating the Tourism Act in 2076. Lumbini province is studying the feasibility of promoting travel through waterways.<br /> <br /> <strong>Karnali</strong> <strong>Province</strong><br /> Mohan Dev Joshi, secretary of the Ministry of Industry, Tourism, Forestry and Environment of Karnali Province, says that the state government has been carrying out tourism activities after endorsing the Tourism Act in March 2078. The state government is working to attract tourists in areas like Rara Lake, Shey-Phoksundo Lake, Jajarkot Palace, Bulbule Lake among others.<br /> <br /> <strong>Far West Province</strong><br /> Man Bahadur Dhami, Minister for Industry, Tourism, Forest and Environment of Far West Province, says that the Tourism Act has reached the stage of implementation. He says that if Dhangadhi Airport can be upgraded to a regional airport, , the number of tourists in Far West will increase.</span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15628', 'image' => '20220829052537_Tourist.jpg', 'article_date' => '2022-08-29 17:24:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15886', 'article_category_id' => '1', 'title' => 'Will Operation of Pokhara International Airport Risk Paragliding Business? ', 'sub_title' => '', 'summary' => 'August 29: The prospect of operating Pokhara Regional International Airport from January next year has threatened the business of paragliding at nearby Sarangkot. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: The prospect of operating Pokhara Regional International Airport from January next year has threatened the business of paragliding at nearby Sarangkot. The adventure sport has found an important place in the tourism industry of Nepal.</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"">According to the Civil Aviation Authority of Nepal, it is not possible to operate paragliding at Sarangkot once the airport comes into operation. This has caused fear among the tourism entrepreneurs of the area.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara has over 60 paragliding companies in operation at present. This business is providing direct jobs to around 360 pilots, says Krishna Bhandari, outgoing chairperson of the Nepal Airsports Association, Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Paragliding is the identity of Pokhara," says Bhandari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The authorities concerned have been urged to take initiatives not to discontinue the sport while operating the airport. The government authorities are positive about it, says Bhandari. In an event recently held in Pokhara, Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha had assured of seeking ways to continue paragliding while operating the airport.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In the process, air safety should not be compromised,” said Minister Shrestha. </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"">"Tourism entrepreneurs in Pokhara have demanded the conservation of paragliding, a brand name in the tourist city. There cannot be any compromise on aviation safety. We are working to continue the sport in such a way that it does not compromise aviation safety," said Minister Shrestha. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15627', 'image' => '20220829044441_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-08-29 16:44:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15885', 'article_category_id' => '1', 'title' => 'Nepal and World Bank Sign $100 Million Financing Agreement to Support Nepal’s Green Development', 'sub_title' => '', 'summary' => 'August 29: The Government of Nepal and the World Bank have signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 29: The Government of Nepal and the World Bank have signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, the World Bank said that the proposed financing aims to support improvements in the enabling environment in Nepal toward a green, climate-resilient, and inclusive development. This is the first in a programmatic series of three concessional loan on GRID, the World Bank added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Joint Secretary at the International Economic Cooperation Coordination Division under the Ministry of Finance Ishwori Prasad Aryal and World Bank’s Operations Manager for the Maldives, Nepal, and Sri Lanka Lada Strelkova signed the agreement on behalf of their respective organisations amid a function held in Kathmandu on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“In the wake of the COVID-19 pandemic, the Government of Nepal, World Bank and development partners signed the critical Kathmandu Declaration pivoting our programs in Nepal to support the country’s goals of a greener, more inclusive, and more resilient development,” the statement quoted Strelkova as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This operation is a key part of this commitment. Through this operation, we are supporting the Government’s key policy actions across sectors including water, land use, climate-smart agriculture, sustainable forest management, urban, waste, and pollution,” she added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the world bank, this first operation supports policy actions for strategic GRID transitions such as the sustainable and productive use of natural capital; resilience of urban and rural infrastructure, human capital, and livelihoods to climate and environmental risks; and more efficient and cleaner production, consumption, and mobility. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It also supports policy actions of Government of Nepal for strategic GRID transitions that help build and maintain prosperity for all, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the operation encourages private sector investment in greening Nepal’s economy and creating jobs and livelihoods related to areas such as community forestry, agriculture, clean air, and solid waste management. It also supports reforms for strengthening inclusion in development decision-making and access to assets and services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Nepal’s shift to the GRID approach is a strategic move during a challenging time that is full of opportunities for the country. This shift will help Nepal continue to make progress in expanding and protecting prosperity while reducing poverty in the face of compounding challenges that affect Nepal’s development prospects, including the economic recovery from COVID and the on-going disaster, climate and environmental risks,” said Joint Secretary Ishwori Prasad Aryal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15626', 'image' => '20220829033020_RS_KTM_IMGL734508292022l.jpg', 'article_date' => '2022-08-29 15:29:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15884', 'article_category_id' => '1', 'title' => ' No Pesticide Testing Lab at Customs Check Point ', 'sub_title' => '', 'summary' => 'August 29: Kanchanpur Customs Office, Gaddachauki is facing problem testing pesticide contents in fruits and vegetables imported from India, as it does not have its own pesticide testing laboratory. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: Kanchanpur Customs Office, Gaddachauki is facing problem testing pesticide contents in fruits and vegetables imported from India, as it does not have its own pesticide testing laboratory. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The office has to travel all the way to Attariya of Kailali for carrying out tests for pesticide residue. Information officer of the customs office Paramananda Joshi said they have to travel 42 kilometres away to Attariya for conducting pesticide tests. He said that the customs office lacks the laboratory as well as the lab technicians to carry out such tests. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He says that it takes two or three days to get the results from Attariya.</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"">"Neither do we have laboratory nor technicians for conducting the pesticide test. If it is early enough, the result arrives in the evening the same day we send the sample. So we allow the trucks and pick-up vans loaded with fruit and vegetables only after getting the results," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi narrated that the traders have been complaining that the delay is causing problems for the import of perishable items as it sometimes takes longer than expected to get the test results from Attariya, which also does not have enough technicians. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This means that the trucks and vans loaded with fruits and vegetables imported from India are held at the customs for one or two days since it takes a day or two to get the pesticide test report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bishal Sunar, president of the Sabjimandi fruits and vegetables traders committee, suggested the customs office to become strict in testing the fruits and vegetables imported from India. </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"">"Imported vegetables should not be allowed entry without testing of pesticide But there needs to be a laboratory at the customs office itself,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He says that it would be easier for the traders had there been a lab at the customs office here. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, vegetable import from India has declined of late. Most of the vegetables are imported from Dadeldhura. It is said only potatoes and onions are imported from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Seventy per cent of vegetables are produced within the district and only 30 per cent is imported from outside," Sunar said. </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"">Although the local production is adequate during the season, there is shortage during the off-season due to the lack of cold storage facilities. Vegetables have to be imported from India during the off-season. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15625', 'image' => '20220829014335_p02-120209-78.jpg', 'article_date' => '2022-08-29 13:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15883', 'article_category_id' => '1', 'title' => 'Banks Competing with Each Other Over Fixed Deposit Schemes', 'sub_title' => '', 'summary' => 'August 29: Banks have started competition among themselves especially over the long-term fixed deposit schemes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">August 29: Banks have started competition among themselves especially over the long-term fixed deposit schemes. The failure of banks to attract deposits due to various reasons prompted them to introduce fixed-deposit scheme that would give the customers returns of 10 times the amount deposited initially.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bank deposits are declining due to liquidity crisis in the banking system. In such a situation, the bank have introduced plans for a period of 21 years to attract deposits from the general public by promising returns up to 10 times the initial deposit. In order to attract depositors in the schemes, banks have added facilities like insurance, credit card, and easy loans in addition to interest.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Initially, NIC Asia Bank announced the "Sarwashrestha 10x Term Plan". After that, banks including Global IME Bank, Civil Bank, Kumari Bank, Sanima Bank, and Nabil Bank also announced similar deposit schemes. Their new scheme promises to pay between two to ten times the deposit amount.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bankers say that such schemes are suitable for common people who keep long-term deposits in banks and earn interest. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Anupama Khunjeli, former chief executive officer of Mega Bank said, “The long-term deposit scheme introduced by banks is suitable for those who depend on the interest of the bank. This may increase the cost of capital for banks and make loans more expensive.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, she argues that such plans will make it easier for banks to manage resources in the long term. Banks complain that it is difficult to manage funds while investing in long-term projects by taking short-term deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, NIC Asia announced the Sarwashrestha Muddati Scheme, Civil has announced Dobbar and Tebbar Plus Scheme, Kumari has announced Dhanvridhi Muddati Scheme, Global IME has announced Chakravarti Muddati Scheme, Sanima has announced Bumper Dhamaka Muddati Scheme and Nabil Bank has announces Dhukka Muddati Scheme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from interest, banks have also introduced facilities like insurance for fixed deposits. NIC Asia's plan offers fatal disease insurance up to Rs 4,000,000, accident insurance up to Rs 4,000,000, and medical treatment insurance up to Rs 4,00,000. Civil Bank says that life insurance up to Rs 1,000,000 and accident insurance up to Rs 1,000,000 will be provided free of cost. Similarly, banks also provided facilities like concessional interest on loans, discounts on loan service charges, free credit cards and other facilities to the customers who opt for fixed deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">Share of fixed deposits increases</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to the focus of banks on collecting fixed deposits from the general public, the share of fixed deposits in banks has increased. According to the data of Nepal Rastra Bank, at the end of the last fiscal year, the share of fixed deposits in banks has reached 55.8 percent of the total deposits of Rs 5158 billion. Until a year ago, the share of fixed deposits in banks was only 47 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the interest rate on fixed deposits is higher than general savings, the share of fixed deposits has increased while general savings has decreased. The share of general savings in banks which was 34.2 percent previous year, dropped to 27.6 percent last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Banks can give 4 percentage points more interest on fixed deposits than the minimum interest on general savings. According to the directive of NRB, the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, except call deposits, cannot be made more than 5 percentage points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In order to eliminate the competition to attract institutional deposits, NRB has introduced a provision in the monetary policy of the current financial year that the maximum interest rate offered on institutional term deposits should be at least 2 percentage points lower than the maximum interest rate offered on term deposits to the general public. Previously, this difference was only 1 percentage point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15624', 'image' => '20220829013249_Banks.jpg', 'article_date' => '2022-08-29 13:32:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15882', 'article_category_id' => '1', 'title' => 'Pokhara Int'l Airport Operating on January 1', 'sub_title' => 'Longstanding Dream of Pokhara Folks being Realised ', 'summary' => 'August 29: fter a four-and-half-decade of wait, the Pokhara Regional International Airport is now almost complete. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: fter a four-and-half-decade of wait, the Pokhara Regional International Airport is now almost complete. The Civil Aviation Authority of Nepal (CAAN), the state-owned aviation regulator, during its recent meeting announced to formally operate the airport on 1 January, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, the project worth around Rs 22 billion has witnessed 98 percent completion of construction works. The construction of 14 buildings including the domestic and international terminals and decoration has been completed. Construction of the runway, a building for air traffic control room, airport aprons, taxi ways, parking lots, footpaths, roads linking the airport with the highway and subways has been over. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport is almost ready and the work on managing a landfill site nearby and leveling of a hill at Ritthepani however remains to be accomplished, says Binesh Munakarmi, chief of the airport construction project. According to him, the leveling of hill will be complete within coming October. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"It is a matter of happiness and pride for the residents of Pokhara and entire Gandaki Province that the airport, a dream project for the Pokhara folks, is operating soon after a longstanding struggle," says Bishwo Shankar Palikhe, a person who joined a struggle demanding the construction of the project. He called for managing a landfill site nearby before the operation of the project as birds hovering around may pose risks of bird strikes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the land acquisition started long ago since 2034 BS, the construction could not move ahead due to various reasons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The project moved ahead only when the then Prime Minister KP Sharma Oli on 13 April, 2016 laid the foundation stone of the project with the target of completing the construction works within four years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport is being upgraded with loans and grants worth around Rs 22 billion from the Exim Bank of China. The China CMC Engineering Company was awarded the contract to build the national pride project of Nepal which spans across approximately 3,700 ropanis of land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport has capacity to accommodate the landing and takeoff of Airbus 320 narrow-body aircraft and Boeing 735 aircraft. Its apron has capacity of parking three large and eight small aircraft at a time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The runway is 2,500 meters in length and 45 meters wide. There are 14 domestic and international terminal buildings. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chinese construction company four months ago handed over the project to the Government of Nepal after completing 93 percent construction work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, experts have warned that it is not possible to operate flights until the problem relating to the dumping site nearby is resolved. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shifting the dumping ground has become a pressing issue for Pokhara Metropolitan City. The landfill site around two kilometers away from the project should be shifted to operate the airport. But, the metropolis has yet to find a suitable place for the dumping waste. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has assured of shifting the dumping site, says Bikram Gautam, chief of the CAAN office, Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, the CAAN is preparing to fill the existing landfill site with soils extracted from leveling the Ritthepani hill. As a result, birds flying around would go elsewhere without food for them and trees for their habitat, insists CAAN. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the task is not easier, according to experts. Stating that the area is a habitat for birds including vultures and eagles, it will be difficult to drive away birds in a short span of time, argues Manshanta Ghimire, chairperson of the Pokhara Bird Society. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to available data, over 162 species of birds are found in the area. Of them, five are critically endangered and two are endangered. White vultures and brown vultures have made nests in the area since 2014, according to Ghimire. -- RSS</span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15623', 'image' => '20220829123020_Pokhara-Airport 800.jpg', 'article_date' => '2022-08-29 12:29:11', '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' => '15896', 'article_category_id' => '1', 'title' => '‘Nepal to become a Full-Fledged Electricity Exporting Nation after Two Years’', 'sub_title' => '', 'summary' => 'August 31: Nepal Electricity Authority is projected to export electricity worth Rs 16 billion in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 31: Nepal Electricity Authority is projected to export electricity worth Rs 16 billion in the current fiscal year. According to the Executive Director of NEA Kulman Ghising, Nepal will become a full-fledged electricity exporting nation after two years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last 85 days, NEA exported electricity worth Rs 6 billion to India. It is a positive sign for the country suffering from heavy trade deficit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, 364 MW of electricity is being exported to India daily. The NEA is taking initiative to export around 600 megawatts of electricity. Preparations are underway to export 456 MW of electricity generated by Upper Tamakoshi and 110 MW from other projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the NEA, Kulman Ghising, informed New Business Age that they are holding regular talks with the Indian side and a conclusion will be reached soon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“During the upcoming winter, some amount of electricity may have to be imported, but the quantity will be very low. From next year, we will reduce imports to zero and there will be only export," said Ghising.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The authority has started exporting 39 megawatts of electricity to India from two projects located in Nuwakot since last autumn. NEA started selling electricity in India’s energy exchange market from June 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Ghising said that since the weather in India is hot during the rainy season, the electricity demand is high, and the price rises accordingly. The authority has been able to sell electricity for as much as Rs 19.20 per unit during peak demand, which is much more than the price in the domestic market. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NEA has added 741 MW of electricity to the national grid in the last fiscal year alone. Director General of Department of Electricity Development Sanjiv Dev said that 1,000 megawatts of electricity will be added in the current fiscal year. At present, the country's total electricity capacity connected to the national grid has reached 2,269 megawatts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the production of electricity in the country is increasing, there are concerns due to lack of adequate transmission lines for more export. But Ghising, the executive director of the authority, denied it. Currently, the transmission system has been connected with different states of India, he said. Ghising said that in the past, only the issue of importing electricity was given priority, but in recent times, the matter of export has been prioritized. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => 'electricity, export, India, NEA, Kulman, Ghising, Nepal, transmission, line, megawatts, national, grid', 'description' => '', 'sortorder' => '15637', 'image' => '20220831104945_elec.jpg', 'article_date' => '2022-08-31 10:48:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15895', 'article_category_id' => '1', 'title' => 'Jazeera Airways to Operate Daily Flights at GBIA from September 16 ', 'sub_title' => '', 'summary' => 'August 30: Jazeera Airways of Kuwait is set to operate flights at Bhairahawa-based Gautam Buddha International Airport (GBIA) on a daily basis from September 16, according to the Civil Aviation Authority of Nepal (CAAN).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: Jazeera Airways of Kuwait is set to operate flights at Bhairahawa-based Gautam Buddha International Airport (GBIA) on a daily basis from September 16, according to the Civil Aviation Authority of Nepal (CAAN).</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"">At present, the airways has been conducting three flights a week at the airport (on Mondays, Tuesdays and Fridays) since it started direct commercial flights between Nepal and Kuwait in May. The airline has completed the due process for commercial flights, said CAAN Spokesperson Jagannath Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the airlines, additional flights have been announced, thanks to the increasing occupancy rates. The airline company is operating flights to and from Nepal, India, Pakistan, Sri Lanka and Europe. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, only Jazeera Airways has been granted permission to operate flights at the newly-built airport that came into operation since May 16, said Niraula, adding that other airlines have also shown interest to operate flights at the airport which is strategically important from the view of religious tourism due to its proximity to Lumbini – the birthplace of Lord Buddha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wizz Air, a Hungarian airline, is also scheduled to operate flights to and from the airport starting from October 30, said Niraula. The flights will take place between Abu Dhabi in United Arab Emirates and Nepal three days a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, 26 airlines including three Nepali companies have been conducting international flights at the Tribhuvan International Airport. Before COVID-19, over 30 airlines were operating international flights, said Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the international flights that were marred by the global COVID-19 have been gradually returning to normalcy. Now, there are 70 percent occupancy rates under international flights, added Niraula. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15636', 'image' => '20220830080845_1661848231.jazera.jpg', 'article_date' => '2022-08-30 20:08:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15894', 'article_category_id' => '266', 'title' => 'GWM Unveils Multiple New Energy Models at Chengdu Motor Show 2022', 'sub_title' => '', 'summary' => 'August 30: Chinese automobile manufacturer GWM displayed six new brands of vehicles produced by the company during the recently held Chengdu Motor Show 2022 in Sichuan Province of China. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Chinese automobile manufacturer GWM displayed six new brands of vehicles produced by the company during the recently held Chengdu Motor Show 2022 in Sichuan Province of China. According to the company, the event was held on August 26 where the newly launched vehicles became quite popular among the visitors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“GWM displayed various eye-catching new energy models to all media outlets and visitors in several exhibition halls,” reads a statement issued by the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the show, a variety of hybrid electric vehicles under HAVAL, TANK and WEY brands were displayed in a bid to strengthen the hybrid product “matrix” of GWM.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The other two pure electric brands including ORA and SAR also won massive attention and became the spotlight with their innovative interactive forms and differentiated styles, the company added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"As a pioneer in transformation of conventional cars toward electrification and intelligentization, GWM has been insisting on speeding up the implementation of the new energy strategy," commented NetEase, China's leading news media. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">HAVAL is positioned as a "New Energy SUV Expert", and all its models displayed include H6-HEV, H6-PHEV and H-DOG.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">TANK also exhibited two new energy models namely TANK300 HEV and TANK500 PHEV. These two models can integrate reliable and stable off-road capability with powerful new energy power, allowing customers to get an off-road experience while enjoying the green and convenient travel at the same time, reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, WEY brought Coffee 01, Latte DHT-PHEV and other high-end intelligent new energy models at the show, thus leading to the new trend of intelligent driving. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">GWM said it has established a development strategy that focuses on multiple technology routes, such as hybrid electric and pure electric, to accelerate the layout in the new energy field.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of R&D, the company has scaled up investment and said that by 2025, GWM will invest a total of CNY 100 billion for new energy and intelligence-based technologies to create a greener, smarter and safer products for users.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15635', 'image' => '20220830074924_gwmmm.jpg', 'article_date' => '2022-08-30 19:48:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15891', 'article_category_id' => '1', 'title' => 'Victims of Loan Sharks Recount their Ordeal with Taskforce Members in Janakpur ', 'sub_title' => '', 'summary' => 'August 30: The poor people who owe a huge amount of money to fraud moneylenders in Janakpur recently shared their ordeal with the members of the government-formed panel on how the lenders charge exorbitant interest rate. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The poor people who owe a huge amount of money to fraud moneylenders in Janakpur recently shared their ordeal with the members of the government-formed panel on how the lenders charge exorbitant interest rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ram Briksha Mahara of Bateshwor Rural Municipality-2 in Dhanusha shared how he was made victim by the loan sharks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The victims shared their stories during an interaction held among the victims and people's representatives the recommendation committee formed by the Home Ministry to control crime on exorbitant charging of interest on loan provided by informal money lenders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mahara, one of the victims of the illegal act, said he received threats from the lenders for seeking his land plots that the loan shark claimed after failing to repay the loan. According to Mahara, he was forced to register his land plot in the name of a lender after failing to pay Rs 175,000 in debt taken a decade ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In addition, the moneylender made a document for a loan of Rs 600,000," Mahara said adding that he has not received the land plot despite repaying the amount. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subodh Sahu of Mithila Municipality-1 also shared that he was forced to sign on document seeking millions in dues to a moneylender from Janakpur for receiving Rs 2.5 million in loan some six years ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Sahu, the lender is still seeking Rs 1.5 million although he repaid the loan by selling his land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the victims said that the loan sharks have prepared documents claiming five times more money than the real amount; their land plots put in collateral were not returned and they were rendered landless. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon hearing the complaints from the victims, Joint Secretary and Coordinator of the Taskforce Dr Bhisma Kumar Bhusal said they were touched by the sufferings of the locals at the hand of the loan sharks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We had not even imaged that the issue was such chronic," Dr Bhusal said, adding that the taskforce has taken this issue seriously and would submit its report to the government on the basis of facts and evidences. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Coordinator Dr Bhusal also said there was no deadline to file a complaint against the loan sharks and the victims could submit their applications anytime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief District Officer of Dhanusha Surendra Poudel said a total of 192 applications relating to the matter have been lodged in Dhanusha district and investigations were initiated over them.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15634', 'image' => '20220830020821_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2022-08-30 14:07:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15892', 'article_category_id' => '1', 'title' => 'East Entrance of Pashupatinath Temple Reopened after 15 Years ', 'sub_title' => '', 'summary' => 'August 30: The Pashupati Area Development Trust has decided to reopen the east entrance of Pashupatinath this year for the convenience of the devotees visiting the Pashupatinath Temple on the occasion of Teej festival. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The Pashupati Area Development Trust has decided to reopen the east entrance of Pashupatinath this year for the convenience of the devotees visiting the Pashupatinath Temple on the occasion of Teej festival today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The east entrance is going to be reopened for the first time after 2065 BS. The east entrance was closed after the incident of 2065 in which the main priest of Pashupatinath Temple was changed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Culture Conservation Division of the PADT, Gauri Shankar Parajuli, told RSS that arrangements have been made for the devotees coming from Koteshwor-Tinkune-Sinamangal to enter Pashupatinath Temple from east entrance via Ram temple-Aryaghat after entering from Tilganga tourist ticket counter area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arrangement of four queues has been made for the devotees visiting the Pashupathinath on the occasion of Teej. Devotees can enter Pashupatinath Temple area from Mitrapark area from the second queue while arrangement has been made for devotees to enter Pashupatinath area from Gaushala-Pingalasthan-Panchadewal area from the third queue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, people using the fourth queue can enter the Pashupatinath temple via Guheshwori-Umakunda-Kailash in the southern part. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PADT has made preparation to mobilize women security personnel and volunteers inside the main temple. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15633', 'image' => '20220830021355_CKK-KTM-TeejPoojac.jpg', 'article_date' => '2022-08-30 14:13:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15893', 'article_category_id' => '1', 'title' => 'SC Seeks Clarification from KMC Mayor on Contempt of Court ', 'sub_title' => '', 'summary' => 'August 30: The Supreme Court (SC) has asked for written clarification from Kathmandu Metropolitan City’s Mayor Balen Shah within seven days in response to a petition filed against the mayor on contempt of court. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The Supreme Court (SC) has asked for written clarification from Kathmandu Metropolitan City’s Mayor Balen Shah within seven days in response to a petition filed against the mayor on contempt of court. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a directive on the contempt of court, Justice Hari Krishna Karki on Monday asked Mayor Shah to furnish written response himself or through his representatives as per the law within seven days except for the time incurred for travel. The apex court has also asked why Mayor Shah should not be punished as per the demand of the petitioner. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case on contempt of court was filed over the statements made by Mayor Shah on a writ petition lodged against the move of the Kathmandu Metropolitan City to demolish the infrastructure of Norvic Hospital allegedly built by encroaching upon the public land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Advocate Dipak Raj Joshi filed the petition at the SC against Mayor Shah on the contempt of court.-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15632', 'image' => '20220830021935_Supreme Court.jpg', 'article_date' => '2022-08-30 14:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15890', 'article_category_id' => '1', 'title' => 'Private Sector Concerned about New Guidelines on Working Capital Loan', 'sub_title' => '', 'summary' => 'August 30: Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the Nepal Rastra Bank (NRB) would push the private sector on the brink of crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the Nepal Rastra Bank (NRB) would push the private sector on the brink of crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at an interaction organized jointly by Madhes chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and the Economic Reporters Association in Birgunj on Monday, the stakeholders said that the new guidelines on working capital loan have added further burden to the private sector that is still struggling due to the impact of coronavirus pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of the Madhes chapter of FNCCI Ganesh Prasad Lath claimed that the limit on working capital loan will likely increase the operating cost of business organisations. The private sector is worried after the central bank recently issued the guidelines that have limited their access to working capital loan to 20 to 40 percent of the company’s annual turnover.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The central bank has ignored the possible risks that the average businessmen might face in the name of controlling economic activities and therefore implementation of this provision might cause serious problems,” said Lath.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the government has adopted a policy to curb economic activities at a time when it has increased its revenue collection target. Such a contradictory move has only created more confusion, says Lath.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan to 20 in case of a company whose annual transaction is less than Rs 20 million. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairperson of Birgunj Bankers’ Group Rohini Acharya said that the central bank tightened the noose on working capital loan after it was found that such loans were spent on unproductive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Financial crisis has escalated after the companies started taking working capital loans and used them for the purchase of housing and lands,” said Acharya.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, chairman of Birgunj Chamber of Commerce Subodh Kumar Gupta said that the new guidelines will likely shut down many businesses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the government has formulated many policies to recover loans from the industrialists and businessmen but there isn’t much laws that ensure business community from recovering their money from the market. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We have become tired of raising the issue of Credit Act. But the government is not serious about this issue. It has never paid attention to the problems of the business community,” said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He claimed that a business cycle in import business requires at least one year because it takes two to three months for importing goods and then the goods get stored in warehouse before they are sold. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Now we have to either stop importing goods or stop storing goods in warehouses. It seems that the new guidelines have been issued to discourage business activities,” said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of Nepal India Economic Forum Ashok Kumar Temani said that the new guidelines have failed to address the requirements of business cycle. According to him, the guidelines issued by Nepal Rastra Bank focuses on only one aspect of economy and therefore it will have negative impact in overall economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Pradeep Kedia, former president of Birgunj chapter of FNCCI, said that it will be impossible for them to recover the loans given earlier if the banks tighten credit flow. He said that the banking system is not free from flaws and accused the banks of not monitoring the loans properly. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This problem has surfaced because the banks issue loans by looking at the background of the people seeking loans rather than the details of the project. They provide loans to well off people with blind eyes but they are reluctant to provide loans to the general public even if they present proposals of good projects,” said Kedia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Entrepreneur Prakash Khandelwal said that the rules introduced in the banking sector one after another have created an environment in which big business is not possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15631', 'image' => '20220830012039_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-08-30 13:20:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15889', 'article_category_id' => '1', 'title' => 'SSF Preparing to Extend Medical and Other Facilities', 'sub_title' => '', 'summary' => 'August 30: Preparations are underway to make the Social Security Fund (SSF) more effective. The contribution-based social security scheme was launched with much fanfare by the then government led by KP Sharma Oli in 2018.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Preparations are underway to make the Social Security Fund (SSF) more effective. The contribution-based social security scheme was launched with much fanfare by the then government led by KP Sharma Oli in 2018.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Four years down the line, the fund is preparing a draft to provide up to Rs 1 million for regular contributors in case they suffer from fatal disease. At present, there is no provision to provide such amount to the contributors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, the contributors can avail up to Rs 100,000 under the medical facility in case they fall sick. Pregnant women are also provided medical facilities. Officials of SSF say that they are doing homework to add fatal disease to the scheme and it will be implemented soon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fund is also preparing to increase the coverage of medical facilities. So far, the fund has been bearing medical cost of the contributors alone but the facility will soon be extended to six family members, says Bivek Panthi, director of SSF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Panthi, the SSF is holding discussions to prepare the draft. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The draft is being prepared by including suggestions from the private sector as well as organisations from across the country,” Panthi told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We will finalize the draft soon,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the SSF is also planning to launch scholarship scheme. Panthi informed that the contributors who have contributed for at least three years will be entitled to the scholarship facility. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We are currently discussing who shall we provide the scholarship and how much shall be the scholarship amount,” Panthi further said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the fund Kapil Mani Gyawali informed that they were working to ensure that the SSF becomes more dynamic. He said that the draft will include as much suggestions as possible from the private sector workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “The upcoming schemes will take the SSF to new heights,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He informed that the SSF has already started providing health facilities through the automated electronic system. Gyawali believes that the contributors will not have to face the burden of submitting the medical bills to the SSF in person. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The contributors of SSF are getting hassle-free medical services from more than one hundred hospitals across the country including TU Teaching Hospital, Bir Hospital, National Trauma Centre, Patan Hospital, and Kathmandu Medical College among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The contributors need to show their identity cards with their SSF number clearly visible to avail facilities from these hospitals. Earlier, the contributors had to pay the bills at these hospitals themselves and would get refunded later after presenting the bills to the SSF. Now with the automated system in place, the contributors only need to pay 20 percent of the total amount. In case of an accident, the SSF will refund 100 amount incurred in the treatment to the respective hospital. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The SSF has also started working outside the valley by setting up branch offices. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fund has recently launched its digital app to attract the contributors. As of August 27, more than 356,000 workers affiliated to 17000 organisations of the private sector have been affiliated to the SSF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the SSF is not free from controversy. It still has to rely on loans for meeting the day-to-day office expenses and to pay the salary of the officials.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15630', 'image' => '20220830112448_SSF (1).jpg', 'article_date' => '2022-08-30 11:24:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15888', 'article_category_id' => '1', 'title' => 'Govt Stresses on Use of Electric Appliances for Prosperous Nation', 'sub_title' => '', 'summary' => 'August 30: Minister for Energy Pampha Bhusal has said the government was working to establish a prosperous nation through industrialization, transportation service, enhancing agriculture and irrigation system and the use of electric appliances. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: Minister for Energy Pampha Bhusal has said the government was working to establish a prosperous nation through industrialization, transportation service, enhancing agriculture and irrigation system and the use of electric appliances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a news conference organised at the ministry on Sunday, Minister Bhusal said that the ministry has proposed programmes with the notion that power supply is for “our bright future not merely for illumination”. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhusal said that the government has prioritized development of substations, transmission and distribution lines and their advancement to avail the citizens with quality power supply. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Minister Bhusal stated that her 13-month-long tenure as the energy minister was fruitful and effective adding that the key achievement of made during this time was the deal for Nepal's energy export. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, Nepal is exporting 364 megawatts of energy every day. </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"">"I am the sixth one to lead the energy ministry on behalf of the CPN (Maoist Centre). Power outage came to an end during the time when a Maoist leader was the energy minister and energy export has also started during my tenure," Minister Bhusal elaborated her achievement. </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"">"Furthermore, sustainable approach for development of energy sector has been adopted. This shall help narrow down (country's) trade deficit and work for other aspects of economic development," said Minister Bhusal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15629', 'image' => '20220830104246_Breville.jpg', 'article_date' => '2022-08-30 10:42:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15887', 'article_category_id' => '1', 'title' => 'What are the Tourism Promotion Plans of All Seven Provinces?', 'sub_title' => '', 'summary' => 'August 29: All the seven provinces have put forward various plans for the promotion of tourism industry in their respective areas.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 29: All the seven provinces have put forward various plans for the promotion of tourism industry in their respective areas. All the seven provinces along with the center have put forward a strategic plan to revive the tourism industry which has been badly affected by the coronavirus pandemic.</span><br /> <span style="font-family:"Arial","sans-serif"">Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha says that the ministry has taken the initiative to celebrate the coming years from 2023 to 2033 as the Tourism Decade. We present the tourism promotion plans of all seven provinces in brief:</span><br /> <br /> <strong>Province 1</strong><br /> Minister for Culture and Tourism of Province 1, Khinu Longwa Limbu says that the state government has formulated the Tourism Act in 2076 and discussions have been held with inter-provincial and private sector tourism entrepreneurs for the development of tourism in the province.<br /> <br /> <strong>Madhesh Province</strong><br /> Minister for Industry, Tourism and Forestry of Madhesh Province Shatrudhan Mahato says that Madhesh Province has given special priority to religious tourists. Vishal Ghimire, secretary of the province, informed that the development of the tourism sector here will accelerate if there is direct air flights between Madhesh province and India.<br /> <br /> <strong>Bagmati Province</strong><br /> Madan Koirala, secretary of the Ministry of Culture and Tourism of Bagmati Province, says that the province has declared the current fiscal year as a year for travelling. The state government has also allocated a budget of Rs 10 million for this purpose.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province has announced 10 new tourist destinations. The province has allocated Rs 2 billion in the current fiscal year for the tourism sector.</span><br /> <br /> <span style="font-family:"Arial","sans-serif""><strong>Gandaki Province</strong><br /> Gyanendra Paudel, secretary of the Ministry of Tourism, Industry, Commerce and Supply of this province, says that the province is trying to forward the plan of 'one local level, one tourist destination'. Gandaki Province had issued the Tourism Act on August 9.</span><br /> <br /> <strong>Lumbini</strong> <strong>Province</strong><br /> Mahesh Chandra Neupane, secretary of the Ministry of Tourism, Rural and Urban Development of Lumbini Province, says that the province has been conducting tourism activities after formulating the Tourism Act in 2076. Lumbini province is studying the feasibility of promoting travel through waterways.<br /> <br /> <strong>Karnali</strong> <strong>Province</strong><br /> Mohan Dev Joshi, secretary of the Ministry of Industry, Tourism, Forestry and Environment of Karnali Province, says that the state government has been carrying out tourism activities after endorsing the Tourism Act in March 2078. The state government is working to attract tourists in areas like Rara Lake, Shey-Phoksundo Lake, Jajarkot Palace, Bulbule Lake among others.<br /> <br /> <strong>Far West Province</strong><br /> Man Bahadur Dhami, Minister for Industry, Tourism, Forest and Environment of Far West Province, says that the Tourism Act has reached the stage of implementation. He says that if Dhangadhi Airport can be upgraded to a regional airport, , the number of tourists in Far West will increase.</span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15628', 'image' => '20220829052537_Tourist.jpg', 'article_date' => '2022-08-29 17:24:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15886', 'article_category_id' => '1', 'title' => 'Will Operation of Pokhara International Airport Risk Paragliding Business? ', 'sub_title' => '', 'summary' => 'August 29: The prospect of operating Pokhara Regional International Airport from January next year has threatened the business of paragliding at nearby Sarangkot. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: The prospect of operating Pokhara Regional International Airport from January next year has threatened the business of paragliding at nearby Sarangkot. The adventure sport has found an important place in the tourism industry of Nepal.</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"">According to the Civil Aviation Authority of Nepal, it is not possible to operate paragliding at Sarangkot once the airport comes into operation. This has caused fear among the tourism entrepreneurs of the area.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara has over 60 paragliding companies in operation at present. This business is providing direct jobs to around 360 pilots, says Krishna Bhandari, outgoing chairperson of the Nepal Airsports Association, Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Paragliding is the identity of Pokhara," says Bhandari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The authorities concerned have been urged to take initiatives not to discontinue the sport while operating the airport. The government authorities are positive about it, says Bhandari. In an event recently held in Pokhara, Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha had assured of seeking ways to continue paragliding while operating the airport.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In the process, air safety should not be compromised,” said Minister Shrestha. </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"">"Tourism entrepreneurs in Pokhara have demanded the conservation of paragliding, a brand name in the tourist city. There cannot be any compromise on aviation safety. We are working to continue the sport in such a way that it does not compromise aviation safety," said Minister Shrestha. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15627', 'image' => '20220829044441_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-08-29 16:44:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15885', 'article_category_id' => '1', 'title' => 'Nepal and World Bank Sign $100 Million Financing Agreement to Support Nepal’s Green Development', 'sub_title' => '', 'summary' => 'August 29: The Government of Nepal and the World Bank have signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 29: The Government of Nepal and the World Bank have signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, the World Bank said that the proposed financing aims to support improvements in the enabling environment in Nepal toward a green, climate-resilient, and inclusive development. This is the first in a programmatic series of three concessional loan on GRID, the World Bank added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Joint Secretary at the International Economic Cooperation Coordination Division under the Ministry of Finance Ishwori Prasad Aryal and World Bank’s Operations Manager for the Maldives, Nepal, and Sri Lanka Lada Strelkova signed the agreement on behalf of their respective organisations amid a function held in Kathmandu on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“In the wake of the COVID-19 pandemic, the Government of Nepal, World Bank and development partners signed the critical Kathmandu Declaration pivoting our programs in Nepal to support the country’s goals of a greener, more inclusive, and more resilient development,” the statement quoted Strelkova as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This operation is a key part of this commitment. Through this operation, we are supporting the Government’s key policy actions across sectors including water, land use, climate-smart agriculture, sustainable forest management, urban, waste, and pollution,” she added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the world bank, this first operation supports policy actions for strategic GRID transitions such as the sustainable and productive use of natural capital; resilience of urban and rural infrastructure, human capital, and livelihoods to climate and environmental risks; and more efficient and cleaner production, consumption, and mobility. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It also supports policy actions of Government of Nepal for strategic GRID transitions that help build and maintain prosperity for all, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the operation encourages private sector investment in greening Nepal’s economy and creating jobs and livelihoods related to areas such as community forestry, agriculture, clean air, and solid waste management. It also supports reforms for strengthening inclusion in development decision-making and access to assets and services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Nepal’s shift to the GRID approach is a strategic move during a challenging time that is full of opportunities for the country. This shift will help Nepal continue to make progress in expanding and protecting prosperity while reducing poverty in the face of compounding challenges that affect Nepal’s development prospects, including the economic recovery from COVID and the on-going disaster, climate and environmental risks,” said Joint Secretary Ishwori Prasad Aryal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15626', 'image' => '20220829033020_RS_KTM_IMGL734508292022l.jpg', 'article_date' => '2022-08-29 15:29:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15884', 'article_category_id' => '1', 'title' => ' No Pesticide Testing Lab at Customs Check Point ', 'sub_title' => '', 'summary' => 'August 29: Kanchanpur Customs Office, Gaddachauki is facing problem testing pesticide contents in fruits and vegetables imported from India, as it does not have its own pesticide testing laboratory. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: Kanchanpur Customs Office, Gaddachauki is facing problem testing pesticide contents in fruits and vegetables imported from India, as it does not have its own pesticide testing laboratory. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The office has to travel all the way to Attariya of Kailali for carrying out tests for pesticide residue. Information officer of the customs office Paramananda Joshi said they have to travel 42 kilometres away to Attariya for conducting pesticide tests. He said that the customs office lacks the laboratory as well as the lab technicians to carry out such tests. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He says that it takes two or three days to get the results from Attariya.</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"">"Neither do we have laboratory nor technicians for conducting the pesticide test. If it is early enough, the result arrives in the evening the same day we send the sample. So we allow the trucks and pick-up vans loaded with fruit and vegetables only after getting the results," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi narrated that the traders have been complaining that the delay is causing problems for the import of perishable items as it sometimes takes longer than expected to get the test results from Attariya, which also does not have enough technicians. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This means that the trucks and vans loaded with fruits and vegetables imported from India are held at the customs for one or two days since it takes a day or two to get the pesticide test report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bishal Sunar, president of the Sabjimandi fruits and vegetables traders committee, suggested the customs office to become strict in testing the fruits and vegetables imported from India. </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"">"Imported vegetables should not be allowed entry without testing of pesticide But there needs to be a laboratory at the customs office itself,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He says that it would be easier for the traders had there been a lab at the customs office here. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, vegetable import from India has declined of late. Most of the vegetables are imported from Dadeldhura. It is said only potatoes and onions are imported from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Seventy per cent of vegetables are produced within the district and only 30 per cent is imported from outside," Sunar said. </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"">Although the local production is adequate during the season, there is shortage during the off-season due to the lack of cold storage facilities. Vegetables have to be imported from India during the off-season. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15625', 'image' => '20220829014335_p02-120209-78.jpg', 'article_date' => '2022-08-29 13:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15883', 'article_category_id' => '1', 'title' => 'Banks Competing with Each Other Over Fixed Deposit Schemes', 'sub_title' => '', 'summary' => 'August 29: Banks have started competition among themselves especially over the long-term fixed deposit schemes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">August 29: Banks have started competition among themselves especially over the long-term fixed deposit schemes. The failure of banks to attract deposits due to various reasons prompted them to introduce fixed-deposit scheme that would give the customers returns of 10 times the amount deposited initially.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bank deposits are declining due to liquidity crisis in the banking system. In such a situation, the bank have introduced plans for a period of 21 years to attract deposits from the general public by promising returns up to 10 times the initial deposit. In order to attract depositors in the schemes, banks have added facilities like insurance, credit card, and easy loans in addition to interest.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Initially, NIC Asia Bank announced the "Sarwashrestha 10x Term Plan". After that, banks including Global IME Bank, Civil Bank, Kumari Bank, Sanima Bank, and Nabil Bank also announced similar deposit schemes. Their new scheme promises to pay between two to ten times the deposit amount.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bankers say that such schemes are suitable for common people who keep long-term deposits in banks and earn interest. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Anupama Khunjeli, former chief executive officer of Mega Bank said, “The long-term deposit scheme introduced by banks is suitable for those who depend on the interest of the bank. This may increase the cost of capital for banks and make loans more expensive.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, she argues that such plans will make it easier for banks to manage resources in the long term. Banks complain that it is difficult to manage funds while investing in long-term projects by taking short-term deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, NIC Asia announced the Sarwashrestha Muddati Scheme, Civil has announced Dobbar and Tebbar Plus Scheme, Kumari has announced Dhanvridhi Muddati Scheme, Global IME has announced Chakravarti Muddati Scheme, Sanima has announced Bumper Dhamaka Muddati Scheme and Nabil Bank has announces Dhukka Muddati Scheme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from interest, banks have also introduced facilities like insurance for fixed deposits. NIC Asia's plan offers fatal disease insurance up to Rs 4,000,000, accident insurance up to Rs 4,000,000, and medical treatment insurance up to Rs 4,00,000. Civil Bank says that life insurance up to Rs 1,000,000 and accident insurance up to Rs 1,000,000 will be provided free of cost. Similarly, banks also provided facilities like concessional interest on loans, discounts on loan service charges, free credit cards and other facilities to the customers who opt for fixed deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">Share of fixed deposits increases</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to the focus of banks on collecting fixed deposits from the general public, the share of fixed deposits in banks has increased. According to the data of Nepal Rastra Bank, at the end of the last fiscal year, the share of fixed deposits in banks has reached 55.8 percent of the total deposits of Rs 5158 billion. Until a year ago, the share of fixed deposits in banks was only 47 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the interest rate on fixed deposits is higher than general savings, the share of fixed deposits has increased while general savings has decreased. The share of general savings in banks which was 34.2 percent previous year, dropped to 27.6 percent last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Banks can give 4 percentage points more interest on fixed deposits than the minimum interest on general savings. According to the directive of NRB, the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, except call deposits, cannot be made more than 5 percentage points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In order to eliminate the competition to attract institutional deposits, NRB has introduced a provision in the monetary policy of the current financial year that the maximum interest rate offered on institutional term deposits should be at least 2 percentage points lower than the maximum interest rate offered on term deposits to the general public. Previously, this difference was only 1 percentage point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15624', 'image' => '20220829013249_Banks.jpg', 'article_date' => '2022-08-29 13:32:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15882', 'article_category_id' => '1', 'title' => 'Pokhara Int'l Airport Operating on January 1', 'sub_title' => 'Longstanding Dream of Pokhara Folks being Realised ', 'summary' => 'August 29: fter a four-and-half-decade of wait, the Pokhara Regional International Airport is now almost complete. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: fter a four-and-half-decade of wait, the Pokhara Regional International Airport is now almost complete. The Civil Aviation Authority of Nepal (CAAN), the state-owned aviation regulator, during its recent meeting announced to formally operate the airport on 1 January, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, the project worth around Rs 22 billion has witnessed 98 percent completion of construction works. The construction of 14 buildings including the domestic and international terminals and decoration has been completed. Construction of the runway, a building for air traffic control room, airport aprons, taxi ways, parking lots, footpaths, roads linking the airport with the highway and subways has been over. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport is almost ready and the work on managing a landfill site nearby and leveling of a hill at Ritthepani however remains to be accomplished, says Binesh Munakarmi, chief of the airport construction project. According to him, the leveling of hill will be complete within coming October. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"It is a matter of happiness and pride for the residents of Pokhara and entire Gandaki Province that the airport, a dream project for the Pokhara folks, is operating soon after a longstanding struggle," says Bishwo Shankar Palikhe, a person who joined a struggle demanding the construction of the project. He called for managing a landfill site nearby before the operation of the project as birds hovering around may pose risks of bird strikes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the land acquisition started long ago since 2034 BS, the construction could not move ahead due to various reasons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The project moved ahead only when the then Prime Minister KP Sharma Oli on 13 April, 2016 laid the foundation stone of the project with the target of completing the construction works within four years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport is being upgraded with loans and grants worth around Rs 22 billion from the Exim Bank of China. The China CMC Engineering Company was awarded the contract to build the national pride project of Nepal which spans across approximately 3,700 ropanis of land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport has capacity to accommodate the landing and takeoff of Airbus 320 narrow-body aircraft and Boeing 735 aircraft. Its apron has capacity of parking three large and eight small aircraft at a time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The runway is 2,500 meters in length and 45 meters wide. There are 14 domestic and international terminal buildings. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chinese construction company four months ago handed over the project to the Government of Nepal after completing 93 percent construction work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, experts have warned that it is not possible to operate flights until the problem relating to the dumping site nearby is resolved. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shifting the dumping ground has become a pressing issue for Pokhara Metropolitan City. The landfill site around two kilometers away from the project should be shifted to operate the airport. But, the metropolis has yet to find a suitable place for the dumping waste. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has assured of shifting the dumping site, says Bikram Gautam, chief of the CAAN office, Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, the CAAN is preparing to fill the existing landfill site with soils extracted from leveling the Ritthepani hill. As a result, birds flying around would go elsewhere without food for them and trees for their habitat, insists CAAN. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the task is not easier, according to experts. Stating that the area is a habitat for birds including vultures and eagles, it will be difficult to drive away birds in a short span of time, argues Manshanta Ghimire, chairperson of the Pokhara Bird Society. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to available data, over 162 species of birds are found in the area. Of them, five are critically endangered and two are endangered. White vultures and brown vultures have made nests in the area since 2014, according to Ghimire. -- RSS</span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15623', 'image' => '20220829123020_Pokhara-Airport 800.jpg', 'article_date' => '2022-08-29 12:29:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 31: Nepal Electricity Authority is projected to export electricity worth Rs 16 billion in the current fiscal year. According to the Executive Director of NEA Kulman Ghising, Nepal will become a full-fledged electricity exporting nation after two years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last 85 days, NEA exported electricity worth Rs 6 billion to India. It is a positive sign for the country suffering from heavy trade deficit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, 364 MW of electricity is being exported to India daily. The NEA is taking initiative to export around 600 megawatts of electricity. Preparations are underway to export 456 MW of electricity generated by Upper Tamakoshi and 110 MW from other projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the NEA, Kulman Ghising, informed New Business Age that they are holding regular talks with the Indian side and a conclusion will be reached soon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“During the upcoming winter, some amount of electricity may have to be imported, but the quantity will be very low. From next year, we will reduce imports to zero and there will be only export," said Ghising.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The authority has started exporting 39 megawatts of electricity to India from two projects located in Nuwakot since last autumn. NEA started selling electricity in India’s energy exchange market from June 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Ghising said that since the weather in India is hot during the rainy season, the electricity demand is high, and the price rises accordingly. The authority has been able to sell electricity for as much as Rs 19.20 per unit during peak demand, which is much more than the price in the domestic market. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NEA has added 741 MW of electricity to the national grid in the last fiscal year alone. Director General of Department of Electricity Development Sanjiv Dev said that 1,000 megawatts of electricity will be added in the current fiscal year. At present, the country's total electricity capacity connected to the national grid has reached 2,269 megawatts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the production of electricity in the country is increasing, there are concerns due to lack of adequate transmission lines for more export. But Ghising, the executive director of the authority, denied it. Currently, the transmission system has been connected with different states of India, he said. Ghising said that in the past, only the issue of importing electricity was given priority, but in recent times, the matter of export has been prioritized. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => 'electricity, export, India, NEA, Kulman, Ghising, Nepal, transmission, line, megawatts, national, grid', 'description' => '', 'sortorder' => '15637', 'image' => '20220831104945_elec.jpg', 'article_date' => '2022-08-31 10:48:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15895', 'article_category_id' => '1', 'title' => 'Jazeera Airways to Operate Daily Flights at GBIA from September 16 ', 'sub_title' => '', 'summary' => 'August 30: Jazeera Airways of Kuwait is set to operate flights at Bhairahawa-based Gautam Buddha International Airport (GBIA) on a daily basis from September 16, according to the Civil Aviation Authority of Nepal (CAAN).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: Jazeera Airways of Kuwait is set to operate flights at Bhairahawa-based Gautam Buddha International Airport (GBIA) on a daily basis from September 16, according to the Civil Aviation Authority of Nepal (CAAN).</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"">At present, the airways has been conducting three flights a week at the airport (on Mondays, Tuesdays and Fridays) since it started direct commercial flights between Nepal and Kuwait in May. The airline has completed the due process for commercial flights, said CAAN Spokesperson Jagannath Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the airlines, additional flights have been announced, thanks to the increasing occupancy rates. The airline company is operating flights to and from Nepal, India, Pakistan, Sri Lanka and Europe. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, only Jazeera Airways has been granted permission to operate flights at the newly-built airport that came into operation since May 16, said Niraula, adding that other airlines have also shown interest to operate flights at the airport which is strategically important from the view of religious tourism due to its proximity to Lumbini – the birthplace of Lord Buddha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wizz Air, a Hungarian airline, is also scheduled to operate flights to and from the airport starting from October 30, said Niraula. The flights will take place between Abu Dhabi in United Arab Emirates and Nepal three days a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, 26 airlines including three Nepali companies have been conducting international flights at the Tribhuvan International Airport. Before COVID-19, over 30 airlines were operating international flights, said Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the international flights that were marred by the global COVID-19 have been gradually returning to normalcy. Now, there are 70 percent occupancy rates under international flights, added Niraula. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15636', 'image' => '20220830080845_1661848231.jazera.jpg', 'article_date' => '2022-08-30 20:08:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15894', 'article_category_id' => '266', 'title' => 'GWM Unveils Multiple New Energy Models at Chengdu Motor Show 2022', 'sub_title' => '', 'summary' => 'August 30: Chinese automobile manufacturer GWM displayed six new brands of vehicles produced by the company during the recently held Chengdu Motor Show 2022 in Sichuan Province of China. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Chinese automobile manufacturer GWM displayed six new brands of vehicles produced by the company during the recently held Chengdu Motor Show 2022 in Sichuan Province of China. According to the company, the event was held on August 26 where the newly launched vehicles became quite popular among the visitors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“GWM displayed various eye-catching new energy models to all media outlets and visitors in several exhibition halls,” reads a statement issued by the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the show, a variety of hybrid electric vehicles under HAVAL, TANK and WEY brands were displayed in a bid to strengthen the hybrid product “matrix” of GWM.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The other two pure electric brands including ORA and SAR also won massive attention and became the spotlight with their innovative interactive forms and differentiated styles, the company added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"As a pioneer in transformation of conventional cars toward electrification and intelligentization, GWM has been insisting on speeding up the implementation of the new energy strategy," commented NetEase, China's leading news media. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">HAVAL is positioned as a "New Energy SUV Expert", and all its models displayed include H6-HEV, H6-PHEV and H-DOG.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">TANK also exhibited two new energy models namely TANK300 HEV and TANK500 PHEV. These two models can integrate reliable and stable off-road capability with powerful new energy power, allowing customers to get an off-road experience while enjoying the green and convenient travel at the same time, reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, WEY brought Coffee 01, Latte DHT-PHEV and other high-end intelligent new energy models at the show, thus leading to the new trend of intelligent driving. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">GWM said it has established a development strategy that focuses on multiple technology routes, such as hybrid electric and pure electric, to accelerate the layout in the new energy field.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of R&D, the company has scaled up investment and said that by 2025, GWM will invest a total of CNY 100 billion for new energy and intelligence-based technologies to create a greener, smarter and safer products for users.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15635', 'image' => '20220830074924_gwmmm.jpg', 'article_date' => '2022-08-30 19:48:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15891', 'article_category_id' => '1', 'title' => 'Victims of Loan Sharks Recount their Ordeal with Taskforce Members in Janakpur ', 'sub_title' => '', 'summary' => 'August 30: The poor people who owe a huge amount of money to fraud moneylenders in Janakpur recently shared their ordeal with the members of the government-formed panel on how the lenders charge exorbitant interest rate. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The poor people who owe a huge amount of money to fraud moneylenders in Janakpur recently shared their ordeal with the members of the government-formed panel on how the lenders charge exorbitant interest rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ram Briksha Mahara of Bateshwor Rural Municipality-2 in Dhanusha shared how he was made victim by the loan sharks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The victims shared their stories during an interaction held among the victims and people's representatives the recommendation committee formed by the Home Ministry to control crime on exorbitant charging of interest on loan provided by informal money lenders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mahara, one of the victims of the illegal act, said he received threats from the lenders for seeking his land plots that the loan shark claimed after failing to repay the loan. According to Mahara, he was forced to register his land plot in the name of a lender after failing to pay Rs 175,000 in debt taken a decade ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In addition, the moneylender made a document for a loan of Rs 600,000," Mahara said adding that he has not received the land plot despite repaying the amount. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subodh Sahu of Mithila Municipality-1 also shared that he was forced to sign on document seeking millions in dues to a moneylender from Janakpur for receiving Rs 2.5 million in loan some six years ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Sahu, the lender is still seeking Rs 1.5 million although he repaid the loan by selling his land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the victims said that the loan sharks have prepared documents claiming five times more money than the real amount; their land plots put in collateral were not returned and they were rendered landless. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon hearing the complaints from the victims, Joint Secretary and Coordinator of the Taskforce Dr Bhisma Kumar Bhusal said they were touched by the sufferings of the locals at the hand of the loan sharks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We had not even imaged that the issue was such chronic," Dr Bhusal said, adding that the taskforce has taken this issue seriously and would submit its report to the government on the basis of facts and evidences. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Coordinator Dr Bhusal also said there was no deadline to file a complaint against the loan sharks and the victims could submit their applications anytime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief District Officer of Dhanusha Surendra Poudel said a total of 192 applications relating to the matter have been lodged in Dhanusha district and investigations were initiated over them.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15634', 'image' => '20220830020821_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2022-08-30 14:07:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15892', 'article_category_id' => '1', 'title' => 'East Entrance of Pashupatinath Temple Reopened after 15 Years ', 'sub_title' => '', 'summary' => 'August 30: The Pashupati Area Development Trust has decided to reopen the east entrance of Pashupatinath this year for the convenience of the devotees visiting the Pashupatinath Temple on the occasion of Teej festival. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The Pashupati Area Development Trust has decided to reopen the east entrance of Pashupatinath this year for the convenience of the devotees visiting the Pashupatinath Temple on the occasion of Teej festival today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The east entrance is going to be reopened for the first time after 2065 BS. The east entrance was closed after the incident of 2065 in which the main priest of Pashupatinath Temple was changed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Culture Conservation Division of the PADT, Gauri Shankar Parajuli, told RSS that arrangements have been made for the devotees coming from Koteshwor-Tinkune-Sinamangal to enter Pashupatinath Temple from east entrance via Ram temple-Aryaghat after entering from Tilganga tourist ticket counter area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arrangement of four queues has been made for the devotees visiting the Pashupathinath on the occasion of Teej. Devotees can enter Pashupatinath Temple area from Mitrapark area from the second queue while arrangement has been made for devotees to enter Pashupatinath area from Gaushala-Pingalasthan-Panchadewal area from the third queue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, people using the fourth queue can enter the Pashupatinath temple via Guheshwori-Umakunda-Kailash in the southern part. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PADT has made preparation to mobilize women security personnel and volunteers inside the main temple. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15633', 'image' => '20220830021355_CKK-KTM-TeejPoojac.jpg', 'article_date' => '2022-08-30 14:13:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15893', 'article_category_id' => '1', 'title' => 'SC Seeks Clarification from KMC Mayor on Contempt of Court ', 'sub_title' => '', 'summary' => 'August 30: The Supreme Court (SC) has asked for written clarification from Kathmandu Metropolitan City’s Mayor Balen Shah within seven days in response to a petition filed against the mayor on contempt of court. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The Supreme Court (SC) has asked for written clarification from Kathmandu Metropolitan City’s Mayor Balen Shah within seven days in response to a petition filed against the mayor on contempt of court. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a directive on the contempt of court, Justice Hari Krishna Karki on Monday asked Mayor Shah to furnish written response himself or through his representatives as per the law within seven days except for the time incurred for travel. The apex court has also asked why Mayor Shah should not be punished as per the demand of the petitioner. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case on contempt of court was filed over the statements made by Mayor Shah on a writ petition lodged against the move of the Kathmandu Metropolitan City to demolish the infrastructure of Norvic Hospital allegedly built by encroaching upon the public land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Advocate Dipak Raj Joshi filed the petition at the SC against Mayor Shah on the contempt of court.-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15632', 'image' => '20220830021935_Supreme Court.jpg', 'article_date' => '2022-08-30 14:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15890', 'article_category_id' => '1', 'title' => 'Private Sector Concerned about New Guidelines on Working Capital Loan', 'sub_title' => '', 'summary' => 'August 30: Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the Nepal Rastra Bank (NRB) would push the private sector on the brink of crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the Nepal Rastra Bank (NRB) would push the private sector on the brink of crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at an interaction organized jointly by Madhes chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and the Economic Reporters Association in Birgunj on Monday, the stakeholders said that the new guidelines on working capital loan have added further burden to the private sector that is still struggling due to the impact of coronavirus pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of the Madhes chapter of FNCCI Ganesh Prasad Lath claimed that the limit on working capital loan will likely increase the operating cost of business organisations. The private sector is worried after the central bank recently issued the guidelines that have limited their access to working capital loan to 20 to 40 percent of the company’s annual turnover.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The central bank has ignored the possible risks that the average businessmen might face in the name of controlling economic activities and therefore implementation of this provision might cause serious problems,” said Lath.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the government has adopted a policy to curb economic activities at a time when it has increased its revenue collection target. Such a contradictory move has only created more confusion, says Lath.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan to 20 in case of a company whose annual transaction is less than Rs 20 million. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairperson of Birgunj Bankers’ Group Rohini Acharya said that the central bank tightened the noose on working capital loan after it was found that such loans were spent on unproductive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Financial crisis has escalated after the companies started taking working capital loans and used them for the purchase of housing and lands,” said Acharya.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, chairman of Birgunj Chamber of Commerce Subodh Kumar Gupta said that the new guidelines will likely shut down many businesses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the government has formulated many policies to recover loans from the industrialists and businessmen but there isn’t much laws that ensure business community from recovering their money from the market. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We have become tired of raising the issue of Credit Act. But the government is not serious about this issue. It has never paid attention to the problems of the business community,” said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He claimed that a business cycle in import business requires at least one year because it takes two to three months for importing goods and then the goods get stored in warehouse before they are sold. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Now we have to either stop importing goods or stop storing goods in warehouses. It seems that the new guidelines have been issued to discourage business activities,” said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of Nepal India Economic Forum Ashok Kumar Temani said that the new guidelines have failed to address the requirements of business cycle. According to him, the guidelines issued by Nepal Rastra Bank focuses on only one aspect of economy and therefore it will have negative impact in overall economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Pradeep Kedia, former president of Birgunj chapter of FNCCI, said that it will be impossible for them to recover the loans given earlier if the banks tighten credit flow. He said that the banking system is not free from flaws and accused the banks of not monitoring the loans properly. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This problem has surfaced because the banks issue loans by looking at the background of the people seeking loans rather than the details of the project. They provide loans to well off people with blind eyes but they are reluctant to provide loans to the general public even if they present proposals of good projects,” said Kedia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Entrepreneur Prakash Khandelwal said that the rules introduced in the banking sector one after another have created an environment in which big business is not possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15631', 'image' => '20220830012039_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-08-30 13:20:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15889', 'article_category_id' => '1', 'title' => 'SSF Preparing to Extend Medical and Other Facilities', 'sub_title' => '', 'summary' => 'August 30: Preparations are underway to make the Social Security Fund (SSF) more effective. The contribution-based social security scheme was launched with much fanfare by the then government led by KP Sharma Oli in 2018.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Preparations are underway to make the Social Security Fund (SSF) more effective. The contribution-based social security scheme was launched with much fanfare by the then government led by KP Sharma Oli in 2018.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Four years down the line, the fund is preparing a draft to provide up to Rs 1 million for regular contributors in case they suffer from fatal disease. At present, there is no provision to provide such amount to the contributors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, the contributors can avail up to Rs 100,000 under the medical facility in case they fall sick. Pregnant women are also provided medical facilities. Officials of SSF say that they are doing homework to add fatal disease to the scheme and it will be implemented soon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fund is also preparing to increase the coverage of medical facilities. So far, the fund has been bearing medical cost of the contributors alone but the facility will soon be extended to six family members, says Bivek Panthi, director of SSF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Panthi, the SSF is holding discussions to prepare the draft. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The draft is being prepared by including suggestions from the private sector as well as organisations from across the country,” Panthi told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We will finalize the draft soon,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the SSF is also planning to launch scholarship scheme. Panthi informed that the contributors who have contributed for at least three years will be entitled to the scholarship facility. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We are currently discussing who shall we provide the scholarship and how much shall be the scholarship amount,” Panthi further said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the fund Kapil Mani Gyawali informed that they were working to ensure that the SSF becomes more dynamic. He said that the draft will include as much suggestions as possible from the private sector workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “The upcoming schemes will take the SSF to new heights,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He informed that the SSF has already started providing health facilities through the automated electronic system. Gyawali believes that the contributors will not have to face the burden of submitting the medical bills to the SSF in person. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The contributors of SSF are getting hassle-free medical services from more than one hundred hospitals across the country including TU Teaching Hospital, Bir Hospital, National Trauma Centre, Patan Hospital, and Kathmandu Medical College among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The contributors need to show their identity cards with their SSF number clearly visible to avail facilities from these hospitals. Earlier, the contributors had to pay the bills at these hospitals themselves and would get refunded later after presenting the bills to the SSF. Now with the automated system in place, the contributors only need to pay 20 percent of the total amount. In case of an accident, the SSF will refund 100 amount incurred in the treatment to the respective hospital. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The SSF has also started working outside the valley by setting up branch offices. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fund has recently launched its digital app to attract the contributors. As of August 27, more than 356,000 workers affiliated to 17000 organisations of the private sector have been affiliated to the SSF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the SSF is not free from controversy. It still has to rely on loans for meeting the day-to-day office expenses and to pay the salary of the officials.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15630', 'image' => '20220830112448_SSF (1).jpg', 'article_date' => '2022-08-30 11:24:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15888', 'article_category_id' => '1', 'title' => 'Govt Stresses on Use of Electric Appliances for Prosperous Nation', 'sub_title' => '', 'summary' => 'August 30: Minister for Energy Pampha Bhusal has said the government was working to establish a prosperous nation through industrialization, transportation service, enhancing agriculture and irrigation system and the use of electric appliances. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: Minister for Energy Pampha Bhusal has said the government was working to establish a prosperous nation through industrialization, transportation service, enhancing agriculture and irrigation system and the use of electric appliances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a news conference organised at the ministry on Sunday, Minister Bhusal said that the ministry has proposed programmes with the notion that power supply is for “our bright future not merely for illumination”. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhusal said that the government has prioritized development of substations, transmission and distribution lines and their advancement to avail the citizens with quality power supply. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Minister Bhusal stated that her 13-month-long tenure as the energy minister was fruitful and effective adding that the key achievement of made during this time was the deal for Nepal's energy export. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, Nepal is exporting 364 megawatts of energy every day. </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"">"I am the sixth one to lead the energy ministry on behalf of the CPN (Maoist Centre). Power outage came to an end during the time when a Maoist leader was the energy minister and energy export has also started during my tenure," Minister Bhusal elaborated her achievement. </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"">"Furthermore, sustainable approach for development of energy sector has been adopted. This shall help narrow down (country's) trade deficit and work for other aspects of economic development," said Minister Bhusal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15629', 'image' => '20220830104246_Breville.jpg', 'article_date' => '2022-08-30 10:42:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15887', 'article_category_id' => '1', 'title' => 'What are the Tourism Promotion Plans of All Seven Provinces?', 'sub_title' => '', 'summary' => 'August 29: All the seven provinces have put forward various plans for the promotion of tourism industry in their respective areas.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 29: All the seven provinces have put forward various plans for the promotion of tourism industry in their respective areas. All the seven provinces along with the center have put forward a strategic plan to revive the tourism industry which has been badly affected by the coronavirus pandemic.</span><br /> <span style="font-family:"Arial","sans-serif"">Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha says that the ministry has taken the initiative to celebrate the coming years from 2023 to 2033 as the Tourism Decade. We present the tourism promotion plans of all seven provinces in brief:</span><br /> <br /> <strong>Province 1</strong><br /> Minister for Culture and Tourism of Province 1, Khinu Longwa Limbu says that the state government has formulated the Tourism Act in 2076 and discussions have been held with inter-provincial and private sector tourism entrepreneurs for the development of tourism in the province.<br /> <br /> <strong>Madhesh Province</strong><br /> Minister for Industry, Tourism and Forestry of Madhesh Province Shatrudhan Mahato says that Madhesh Province has given special priority to religious tourists. Vishal Ghimire, secretary of the province, informed that the development of the tourism sector here will accelerate if there is direct air flights between Madhesh province and India.<br /> <br /> <strong>Bagmati Province</strong><br /> Madan Koirala, secretary of the Ministry of Culture and Tourism of Bagmati Province, says that the province has declared the current fiscal year as a year for travelling. The state government has also allocated a budget of Rs 10 million for this purpose.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province has announced 10 new tourist destinations. The province has allocated Rs 2 billion in the current fiscal year for the tourism sector.</span><br /> <br /> <span style="font-family:"Arial","sans-serif""><strong>Gandaki Province</strong><br /> Gyanendra Paudel, secretary of the Ministry of Tourism, Industry, Commerce and Supply of this province, says that the province is trying to forward the plan of 'one local level, one tourist destination'. Gandaki Province had issued the Tourism Act on August 9.</span><br /> <br /> <strong>Lumbini</strong> <strong>Province</strong><br /> Mahesh Chandra Neupane, secretary of the Ministry of Tourism, Rural and Urban Development of Lumbini Province, says that the province has been conducting tourism activities after formulating the Tourism Act in 2076. Lumbini province is studying the feasibility of promoting travel through waterways.<br /> <br /> <strong>Karnali</strong> <strong>Province</strong><br /> Mohan Dev Joshi, secretary of the Ministry of Industry, Tourism, Forestry and Environment of Karnali Province, says that the state government has been carrying out tourism activities after endorsing the Tourism Act in March 2078. The state government is working to attract tourists in areas like Rara Lake, Shey-Phoksundo Lake, Jajarkot Palace, Bulbule Lake among others.<br /> <br /> <strong>Far West Province</strong><br /> Man Bahadur Dhami, Minister for Industry, Tourism, Forest and Environment of Far West Province, says that the Tourism Act has reached the stage of implementation. He says that if Dhangadhi Airport can be upgraded to a regional airport, , the number of tourists in Far West will increase.</span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15628', 'image' => '20220829052537_Tourist.jpg', 'article_date' => '2022-08-29 17:24:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15886', 'article_category_id' => '1', 'title' => 'Will Operation of Pokhara International Airport Risk Paragliding Business? ', 'sub_title' => '', 'summary' => 'August 29: The prospect of operating Pokhara Regional International Airport from January next year has threatened the business of paragliding at nearby Sarangkot. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: The prospect of operating Pokhara Regional International Airport from January next year has threatened the business of paragliding at nearby Sarangkot. The adventure sport has found an important place in the tourism industry of Nepal.</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"">According to the Civil Aviation Authority of Nepal, it is not possible to operate paragliding at Sarangkot once the airport comes into operation. This has caused fear among the tourism entrepreneurs of the area.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara has over 60 paragliding companies in operation at present. This business is providing direct jobs to around 360 pilots, says Krishna Bhandari, outgoing chairperson of the Nepal Airsports Association, Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Paragliding is the identity of Pokhara," says Bhandari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The authorities concerned have been urged to take initiatives not to discontinue the sport while operating the airport. The government authorities are positive about it, says Bhandari. In an event recently held in Pokhara, Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha had assured of seeking ways to continue paragliding while operating the airport.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In the process, air safety should not be compromised,” said Minister Shrestha. </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"">"Tourism entrepreneurs in Pokhara have demanded the conservation of paragliding, a brand name in the tourist city. There cannot be any compromise on aviation safety. We are working to continue the sport in such a way that it does not compromise aviation safety," said Minister Shrestha. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15627', 'image' => '20220829044441_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-08-29 16:44:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15885', 'article_category_id' => '1', 'title' => 'Nepal and World Bank Sign $100 Million Financing Agreement to Support Nepal’s Green Development', 'sub_title' => '', 'summary' => 'August 29: The Government of Nepal and the World Bank have signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 29: The Government of Nepal and the World Bank have signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, the World Bank said that the proposed financing aims to support improvements in the enabling environment in Nepal toward a green, climate-resilient, and inclusive development. This is the first in a programmatic series of three concessional loan on GRID, the World Bank added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Joint Secretary at the International Economic Cooperation Coordination Division under the Ministry of Finance Ishwori Prasad Aryal and World Bank’s Operations Manager for the Maldives, Nepal, and Sri Lanka Lada Strelkova signed the agreement on behalf of their respective organisations amid a function held in Kathmandu on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“In the wake of the COVID-19 pandemic, the Government of Nepal, World Bank and development partners signed the critical Kathmandu Declaration pivoting our programs in Nepal to support the country’s goals of a greener, more inclusive, and more resilient development,” the statement quoted Strelkova as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This operation is a key part of this commitment. Through this operation, we are supporting the Government’s key policy actions across sectors including water, land use, climate-smart agriculture, sustainable forest management, urban, waste, and pollution,” she added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the world bank, this first operation supports policy actions for strategic GRID transitions such as the sustainable and productive use of natural capital; resilience of urban and rural infrastructure, human capital, and livelihoods to climate and environmental risks; and more efficient and cleaner production, consumption, and mobility. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It also supports policy actions of Government of Nepal for strategic GRID transitions that help build and maintain prosperity for all, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the operation encourages private sector investment in greening Nepal’s economy and creating jobs and livelihoods related to areas such as community forestry, agriculture, clean air, and solid waste management. It also supports reforms for strengthening inclusion in development decision-making and access to assets and services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Nepal’s shift to the GRID approach is a strategic move during a challenging time that is full of opportunities for the country. This shift will help Nepal continue to make progress in expanding and protecting prosperity while reducing poverty in the face of compounding challenges that affect Nepal’s development prospects, including the economic recovery from COVID and the on-going disaster, climate and environmental risks,” said Joint Secretary Ishwori Prasad Aryal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15626', 'image' => '20220829033020_RS_KTM_IMGL734508292022l.jpg', 'article_date' => '2022-08-29 15:29:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15884', 'article_category_id' => '1', 'title' => ' No Pesticide Testing Lab at Customs Check Point ', 'sub_title' => '', 'summary' => 'August 29: Kanchanpur Customs Office, Gaddachauki is facing problem testing pesticide contents in fruits and vegetables imported from India, as it does not have its own pesticide testing laboratory. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: Kanchanpur Customs Office, Gaddachauki is facing problem testing pesticide contents in fruits and vegetables imported from India, as it does not have its own pesticide testing laboratory. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The office has to travel all the way to Attariya of Kailali for carrying out tests for pesticide residue. Information officer of the customs office Paramananda Joshi said they have to travel 42 kilometres away to Attariya for conducting pesticide tests. He said that the customs office lacks the laboratory as well as the lab technicians to carry out such tests. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He says that it takes two or three days to get the results from Attariya.</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"">"Neither do we have laboratory nor technicians for conducting the pesticide test. If it is early enough, the result arrives in the evening the same day we send the sample. So we allow the trucks and pick-up vans loaded with fruit and vegetables only after getting the results," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi narrated that the traders have been complaining that the delay is causing problems for the import of perishable items as it sometimes takes longer than expected to get the test results from Attariya, which also does not have enough technicians. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This means that the trucks and vans loaded with fruits and vegetables imported from India are held at the customs for one or two days since it takes a day or two to get the pesticide test report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bishal Sunar, president of the Sabjimandi fruits and vegetables traders committee, suggested the customs office to become strict in testing the fruits and vegetables imported from India. </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"">"Imported vegetables should not be allowed entry without testing of pesticide But there needs to be a laboratory at the customs office itself,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He says that it would be easier for the traders had there been a lab at the customs office here. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, vegetable import from India has declined of late. Most of the vegetables are imported from Dadeldhura. It is said only potatoes and onions are imported from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Seventy per cent of vegetables are produced within the district and only 30 per cent is imported from outside," Sunar said. </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"">Although the local production is adequate during the season, there is shortage during the off-season due to the lack of cold storage facilities. Vegetables have to be imported from India during the off-season. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15625', 'image' => '20220829014335_p02-120209-78.jpg', 'article_date' => '2022-08-29 13:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15883', 'article_category_id' => '1', 'title' => 'Banks Competing with Each Other Over Fixed Deposit Schemes', 'sub_title' => '', 'summary' => 'August 29: Banks have started competition among themselves especially over the long-term fixed deposit schemes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">August 29: Banks have started competition among themselves especially over the long-term fixed deposit schemes. The failure of banks to attract deposits due to various reasons prompted them to introduce fixed-deposit scheme that would give the customers returns of 10 times the amount deposited initially.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bank deposits are declining due to liquidity crisis in the banking system. In such a situation, the bank have introduced plans for a period of 21 years to attract deposits from the general public by promising returns up to 10 times the initial deposit. In order to attract depositors in the schemes, banks have added facilities like insurance, credit card, and easy loans in addition to interest.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Initially, NIC Asia Bank announced the "Sarwashrestha 10x Term Plan". After that, banks including Global IME Bank, Civil Bank, Kumari Bank, Sanima Bank, and Nabil Bank also announced similar deposit schemes. Their new scheme promises to pay between two to ten times the deposit amount.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bankers say that such schemes are suitable for common people who keep long-term deposits in banks and earn interest. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Anupama Khunjeli, former chief executive officer of Mega Bank said, “The long-term deposit scheme introduced by banks is suitable for those who depend on the interest of the bank. This may increase the cost of capital for banks and make loans more expensive.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, she argues that such plans will make it easier for banks to manage resources in the long term. Banks complain that it is difficult to manage funds while investing in long-term projects by taking short-term deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, NIC Asia announced the Sarwashrestha Muddati Scheme, Civil has announced Dobbar and Tebbar Plus Scheme, Kumari has announced Dhanvridhi Muddati Scheme, Global IME has announced Chakravarti Muddati Scheme, Sanima has announced Bumper Dhamaka Muddati Scheme and Nabil Bank has announces Dhukka Muddati Scheme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from interest, banks have also introduced facilities like insurance for fixed deposits. NIC Asia's plan offers fatal disease insurance up to Rs 4,000,000, accident insurance up to Rs 4,000,000, and medical treatment insurance up to Rs 4,00,000. Civil Bank says that life insurance up to Rs 1,000,000 and accident insurance up to Rs 1,000,000 will be provided free of cost. Similarly, banks also provided facilities like concessional interest on loans, discounts on loan service charges, free credit cards and other facilities to the customers who opt for fixed deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">Share of fixed deposits increases</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to the focus of banks on collecting fixed deposits from the general public, the share of fixed deposits in banks has increased. According to the data of Nepal Rastra Bank, at the end of the last fiscal year, the share of fixed deposits in banks has reached 55.8 percent of the total deposits of Rs 5158 billion. Until a year ago, the share of fixed deposits in banks was only 47 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the interest rate on fixed deposits is higher than general savings, the share of fixed deposits has increased while general savings has decreased. The share of general savings in banks which was 34.2 percent previous year, dropped to 27.6 percent last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Banks can give 4 percentage points more interest on fixed deposits than the minimum interest on general savings. According to the directive of NRB, the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, except call deposits, cannot be made more than 5 percentage points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In order to eliminate the competition to attract institutional deposits, NRB has introduced a provision in the monetary policy of the current financial year that the maximum interest rate offered on institutional term deposits should be at least 2 percentage points lower than the maximum interest rate offered on term deposits to the general public. Previously, this difference was only 1 percentage point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15624', 'image' => '20220829013249_Banks.jpg', 'article_date' => '2022-08-29 13:32:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15882', 'article_category_id' => '1', 'title' => 'Pokhara Int'l Airport Operating on January 1', 'sub_title' => 'Longstanding Dream of Pokhara Folks being Realised ', 'summary' => 'August 29: fter a four-and-half-decade of wait, the Pokhara Regional International Airport is now almost complete. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: fter a four-and-half-decade of wait, the Pokhara Regional International Airport is now almost complete. The Civil Aviation Authority of Nepal (CAAN), the state-owned aviation regulator, during its recent meeting announced to formally operate the airport on 1 January, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, the project worth around Rs 22 billion has witnessed 98 percent completion of construction works. The construction of 14 buildings including the domestic and international terminals and decoration has been completed. Construction of the runway, a building for air traffic control room, airport aprons, taxi ways, parking lots, footpaths, roads linking the airport with the highway and subways has been over. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport is almost ready and the work on managing a landfill site nearby and leveling of a hill at Ritthepani however remains to be accomplished, says Binesh Munakarmi, chief of the airport construction project. According to him, the leveling of hill will be complete within coming October. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"It is a matter of happiness and pride for the residents of Pokhara and entire Gandaki Province that the airport, a dream project for the Pokhara folks, is operating soon after a longstanding struggle," says Bishwo Shankar Palikhe, a person who joined a struggle demanding the construction of the project. He called for managing a landfill site nearby before the operation of the project as birds hovering around may pose risks of bird strikes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the land acquisition started long ago since 2034 BS, the construction could not move ahead due to various reasons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The project moved ahead only when the then Prime Minister KP Sharma Oli on 13 April, 2016 laid the foundation stone of the project with the target of completing the construction works within four years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport is being upgraded with loans and grants worth around Rs 22 billion from the Exim Bank of China. The China CMC Engineering Company was awarded the contract to build the national pride project of Nepal which spans across approximately 3,700 ropanis of land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport has capacity to accommodate the landing and takeoff of Airbus 320 narrow-body aircraft and Boeing 735 aircraft. Its apron has capacity of parking three large and eight small aircraft at a time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The runway is 2,500 meters in length and 45 meters wide. There are 14 domestic and international terminal buildings. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chinese construction company four months ago handed over the project to the Government of Nepal after completing 93 percent construction work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, experts have warned that it is not possible to operate flights until the problem relating to the dumping site nearby is resolved. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shifting the dumping ground has become a pressing issue for Pokhara Metropolitan City. The landfill site around two kilometers away from the project should be shifted to operate the airport. But, the metropolis has yet to find a suitable place for the dumping waste. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has assured of shifting the dumping site, says Bikram Gautam, chief of the CAAN office, Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, the CAAN is preparing to fill the existing landfill site with soils extracted from leveling the Ritthepani hill. As a result, birds flying around would go elsewhere without food for them and trees for their habitat, insists CAAN. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the task is not easier, according to experts. Stating that the area is a habitat for birds including vultures and eagles, it will be difficult to drive away birds in a short span of time, argues Manshanta Ghimire, chairperson of the Pokhara Bird Society. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to available data, over 162 species of birds are found in the area. Of them, five are critically endangered and two are endangered. White vultures and brown vultures have made nests in the area since 2014, according to Ghimire. -- RSS</span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15623', 'image' => '20220829123020_Pokhara-Airport 800.jpg', 'article_date' => '2022-08-29 12:29:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 31: Nepal Electricity Authority is projected to export electricity worth Rs 16 billion in the current fiscal year. According to the Executive Director of NEA Kulman Ghising, Nepal will become a full-fledged electricity exporting nation after two years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the last 85 days, NEA exported electricity worth Rs 6 billion to India. It is a positive sign for the country suffering from heavy trade deficit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, 364 MW of electricity is being exported to India daily. The NEA is taking initiative to export around 600 megawatts of electricity. Preparations are underway to export 456 MW of electricity generated by Upper Tamakoshi and 110 MW from other projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the NEA, Kulman Ghising, informed New Business Age that they are holding regular talks with the Indian side and a conclusion will be reached soon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“During the upcoming winter, some amount of electricity may have to be imported, but the quantity will be very low. From next year, we will reduce imports to zero and there will be only export," said Ghising.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The authority has started exporting 39 megawatts of electricity to India from two projects located in Nuwakot since last autumn. NEA started selling electricity in India’s energy exchange market from June 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Ghising said that since the weather in India is hot during the rainy season, the electricity demand is high, and the price rises accordingly. The authority has been able to sell electricity for as much as Rs 19.20 per unit during peak demand, which is much more than the price in the domestic market. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NEA has added 741 MW of electricity to the national grid in the last fiscal year alone. Director General of Department of Electricity Development Sanjiv Dev said that 1,000 megawatts of electricity will be added in the current fiscal year. At present, the country's total electricity capacity connected to the national grid has reached 2,269 megawatts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the production of electricity in the country is increasing, there are concerns due to lack of adequate transmission lines for more export. But Ghising, the executive director of the authority, denied it. Currently, the transmission system has been connected with different states of India, he said. Ghising said that in the past, only the issue of importing electricity was given priority, but in recent times, the matter of export has been prioritized. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-31', 'modified' => '2022-08-31', 'keywords' => 'electricity, export, India, NEA, Kulman, Ghising, Nepal, transmission, line, megawatts, national, grid', 'description' => '', 'sortorder' => '15637', 'image' => '20220831104945_elec.jpg', 'article_date' => '2022-08-31 10:48:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15895', 'article_category_id' => '1', 'title' => 'Jazeera Airways to Operate Daily Flights at GBIA from September 16 ', 'sub_title' => '', 'summary' => 'August 30: Jazeera Airways of Kuwait is set to operate flights at Bhairahawa-based Gautam Buddha International Airport (GBIA) on a daily basis from September 16, according to the Civil Aviation Authority of Nepal (CAAN).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: Jazeera Airways of Kuwait is set to operate flights at Bhairahawa-based Gautam Buddha International Airport (GBIA) on a daily basis from September 16, according to the Civil Aviation Authority of Nepal (CAAN).</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"">At present, the airways has been conducting three flights a week at the airport (on Mondays, Tuesdays and Fridays) since it started direct commercial flights between Nepal and Kuwait in May. The airline has completed the due process for commercial flights, said CAAN Spokesperson Jagannath Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the airlines, additional flights have been announced, thanks to the increasing occupancy rates. The airline company is operating flights to and from Nepal, India, Pakistan, Sri Lanka and Europe. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, only Jazeera Airways has been granted permission to operate flights at the newly-built airport that came into operation since May 16, said Niraula, adding that other airlines have also shown interest to operate flights at the airport which is strategically important from the view of religious tourism due to its proximity to Lumbini – the birthplace of Lord Buddha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wizz Air, a Hungarian airline, is also scheduled to operate flights to and from the airport starting from October 30, said Niraula. The flights will take place between Abu Dhabi in United Arab Emirates and Nepal three days a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, 26 airlines including three Nepali companies have been conducting international flights at the Tribhuvan International Airport. Before COVID-19, over 30 airlines were operating international flights, said Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the international flights that were marred by the global COVID-19 have been gradually returning to normalcy. Now, there are 70 percent occupancy rates under international flights, added Niraula. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15636', 'image' => '20220830080845_1661848231.jazera.jpg', 'article_date' => '2022-08-30 20:08:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15894', 'article_category_id' => '266', 'title' => 'GWM Unveils Multiple New Energy Models at Chengdu Motor Show 2022', 'sub_title' => '', 'summary' => 'August 30: Chinese automobile manufacturer GWM displayed six new brands of vehicles produced by the company during the recently held Chengdu Motor Show 2022 in Sichuan Province of China. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Chinese automobile manufacturer GWM displayed six new brands of vehicles produced by the company during the recently held Chengdu Motor Show 2022 in Sichuan Province of China. According to the company, the event was held on August 26 where the newly launched vehicles became quite popular among the visitors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“GWM displayed various eye-catching new energy models to all media outlets and visitors in several exhibition halls,” reads a statement issued by the company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the show, a variety of hybrid electric vehicles under HAVAL, TANK and WEY brands were displayed in a bid to strengthen the hybrid product “matrix” of GWM.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The other two pure electric brands including ORA and SAR also won massive attention and became the spotlight with their innovative interactive forms and differentiated styles, the company added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"As a pioneer in transformation of conventional cars toward electrification and intelligentization, GWM has been insisting on speeding up the implementation of the new energy strategy," commented NetEase, China's leading news media. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">HAVAL is positioned as a "New Energy SUV Expert", and all its models displayed include H6-HEV, H6-PHEV and H-DOG.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">TANK also exhibited two new energy models namely TANK300 HEV and TANK500 PHEV. These two models can integrate reliable and stable off-road capability with powerful new energy power, allowing customers to get an off-road experience while enjoying the green and convenient travel at the same time, reads the statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the company, WEY brought Coffee 01, Latte DHT-PHEV and other high-end intelligent new energy models at the show, thus leading to the new trend of intelligent driving. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">GWM said it has established a development strategy that focuses on multiple technology routes, such as hybrid electric and pure electric, to accelerate the layout in the new energy field.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In terms of R&D, the company has scaled up investment and said that by 2025, GWM will invest a total of CNY 100 billion for new energy and intelligence-based technologies to create a greener, smarter and safer products for users.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15635', 'image' => '20220830074924_gwmmm.jpg', 'article_date' => '2022-08-30 19:48:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15891', 'article_category_id' => '1', 'title' => 'Victims of Loan Sharks Recount their Ordeal with Taskforce Members in Janakpur ', 'sub_title' => '', 'summary' => 'August 30: The poor people who owe a huge amount of money to fraud moneylenders in Janakpur recently shared their ordeal with the members of the government-formed panel on how the lenders charge exorbitant interest rate. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The poor people who owe a huge amount of money to fraud moneylenders in Janakpur recently shared their ordeal with the members of the government-formed panel on how the lenders charge exorbitant interest rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ram Briksha Mahara of Bateshwor Rural Municipality-2 in Dhanusha shared how he was made victim by the loan sharks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The victims shared their stories during an interaction held among the victims and people's representatives the recommendation committee formed by the Home Ministry to control crime on exorbitant charging of interest on loan provided by informal money lenders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mahara, one of the victims of the illegal act, said he received threats from the lenders for seeking his land plots that the loan shark claimed after failing to repay the loan. According to Mahara, he was forced to register his land plot in the name of a lender after failing to pay Rs 175,000 in debt taken a decade ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"In addition, the moneylender made a document for a loan of Rs 600,000," Mahara said adding that he has not received the land plot despite repaying the amount. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Subodh Sahu of Mithila Municipality-1 also shared that he was forced to sign on document seeking millions in dues to a moneylender from Janakpur for receiving Rs 2.5 million in loan some six years ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Sahu, the lender is still seeking Rs 1.5 million although he repaid the loan by selling his land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the victims said that the loan sharks have prepared documents claiming five times more money than the real amount; their land plots put in collateral were not returned and they were rendered landless. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Upon hearing the complaints from the victims, Joint Secretary and Coordinator of the Taskforce Dr Bhisma Kumar Bhusal said they were touched by the sufferings of the locals at the hand of the loan sharks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We had not even imaged that the issue was such chronic," Dr Bhusal said, adding that the taskforce has taken this issue seriously and would submit its report to the government on the basis of facts and evidences. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Coordinator Dr Bhusal also said there was no deadline to file a complaint against the loan sharks and the victims could submit their applications anytime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chief District Officer of Dhanusha Surendra Poudel said a total of 192 applications relating to the matter have been lodged in Dhanusha district and investigations were initiated over them.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15634', 'image' => '20220830020821_landsharksharkrQC7Jq3r_q1_RbQ_A.jpeg', 'article_date' => '2022-08-30 14:07:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15892', 'article_category_id' => '1', 'title' => 'East Entrance of Pashupatinath Temple Reopened after 15 Years ', 'sub_title' => '', 'summary' => 'August 30: The Pashupati Area Development Trust has decided to reopen the east entrance of Pashupatinath this year for the convenience of the devotees visiting the Pashupatinath Temple on the occasion of Teej festival. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The Pashupati Area Development Trust has decided to reopen the east entrance of Pashupatinath this year for the convenience of the devotees visiting the Pashupatinath Temple on the occasion of Teej festival today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The east entrance is going to be reopened for the first time after 2065 BS. The east entrance was closed after the incident of 2065 in which the main priest of Pashupatinath Temple was changed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of Culture Conservation Division of the PADT, Gauri Shankar Parajuli, told RSS that arrangements have been made for the devotees coming from Koteshwor-Tinkune-Sinamangal to enter Pashupatinath Temple from east entrance via Ram temple-Aryaghat after entering from Tilganga tourist ticket counter area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Arrangement of four queues has been made for the devotees visiting the Pashupathinath on the occasion of Teej. Devotees can enter Pashupatinath Temple area from Mitrapark area from the second queue while arrangement has been made for devotees to enter Pashupatinath area from Gaushala-Pingalasthan-Panchadewal area from the third queue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, people using the fourth queue can enter the Pashupatinath temple via Guheshwori-Umakunda-Kailash in the southern part. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PADT has made preparation to mobilize women security personnel and volunteers inside the main temple. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15633', 'image' => '20220830021355_CKK-KTM-TeejPoojac.jpg', 'article_date' => '2022-08-30 14:13:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15893', 'article_category_id' => '1', 'title' => 'SC Seeks Clarification from KMC Mayor on Contempt of Court ', 'sub_title' => '', 'summary' => 'August 30: The Supreme Court (SC) has asked for written clarification from Kathmandu Metropolitan City’s Mayor Balen Shah within seven days in response to a petition filed against the mayor on contempt of court. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: The Supreme Court (SC) has asked for written clarification from Kathmandu Metropolitan City’s Mayor Balen Shah within seven days in response to a petition filed against the mayor on contempt of court. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a directive on the contempt of court, Justice Hari Krishna Karki on Monday asked Mayor Shah to furnish written response himself or through his representatives as per the law within seven days except for the time incurred for travel. The apex court has also asked why Mayor Shah should not be punished as per the demand of the petitioner. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case on contempt of court was filed over the statements made by Mayor Shah on a writ petition lodged against the move of the Kathmandu Metropolitan City to demolish the infrastructure of Norvic Hospital allegedly built by encroaching upon the public land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Advocate Dipak Raj Joshi filed the petition at the SC against Mayor Shah on the contempt of court.-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15632', 'image' => '20220830021935_Supreme Court.jpg', 'article_date' => '2022-08-30 14:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15890', 'article_category_id' => '1', 'title' => 'Private Sector Concerned about New Guidelines on Working Capital Loan', 'sub_title' => '', 'summary' => 'August 30: Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the Nepal Rastra Bank (NRB) would push the private sector on the brink of crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the Nepal Rastra Bank (NRB) would push the private sector on the brink of crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at an interaction organized jointly by Madhes chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and the Economic Reporters Association in Birgunj on Monday, the stakeholders said that the new guidelines on working capital loan have added further burden to the private sector that is still struggling due to the impact of coronavirus pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of the Madhes chapter of FNCCI Ganesh Prasad Lath claimed that the limit on working capital loan will likely increase the operating cost of business organisations. The private sector is worried after the central bank recently issued the guidelines that have limited their access to working capital loan to 20 to 40 percent of the company’s annual turnover.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The central bank has ignored the possible risks that the average businessmen might face in the name of controlling economic activities and therefore implementation of this provision might cause serious problems,” said Lath.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the government has adopted a policy to curb economic activities at a time when it has increased its revenue collection target. Such a contradictory move has only created more confusion, says Lath.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan to 20 in case of a company whose annual transaction is less than Rs 20 million. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairperson of Birgunj Bankers’ Group Rohini Acharya said that the central bank tightened the noose on working capital loan after it was found that such loans were spent on unproductive sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Financial crisis has escalated after the companies started taking working capital loans and used them for the purchase of housing and lands,” said Acharya.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, chairman of Birgunj Chamber of Commerce Subodh Kumar Gupta said that the new guidelines will likely shut down many businesses.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the government has formulated many policies to recover loans from the industrialists and businessmen but there isn’t much laws that ensure business community from recovering their money from the market. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We have become tired of raising the issue of Credit Act. But the government is not serious about this issue. It has never paid attention to the problems of the business community,” said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He claimed that a business cycle in import business requires at least one year because it takes two to three months for importing goods and then the goods get stored in warehouse before they are sold. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Now we have to either stop importing goods or stop storing goods in warehouses. It seems that the new guidelines have been issued to discourage business activities,” said Gupta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of Nepal India Economic Forum Ashok Kumar Temani said that the new guidelines have failed to address the requirements of business cycle. According to him, the guidelines issued by Nepal Rastra Bank focuses on only one aspect of economy and therefore it will have negative impact in overall economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Pradeep Kedia, former president of Birgunj chapter of FNCCI, said that it will be impossible for them to recover the loans given earlier if the banks tighten credit flow. He said that the banking system is not free from flaws and accused the banks of not monitoring the loans properly. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This problem has surfaced because the banks issue loans by looking at the background of the people seeking loans rather than the details of the project. They provide loans to well off people with blind eyes but they are reluctant to provide loans to the general public even if they present proposals of good projects,” said Kedia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Entrepreneur Prakash Khandelwal said that the rules introduced in the banking sector one after another have created an environment in which big business is not possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15631', 'image' => '20220830012039_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-08-30 13:20:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15889', 'article_category_id' => '1', 'title' => 'SSF Preparing to Extend Medical and Other Facilities', 'sub_title' => '', 'summary' => 'August 30: Preparations are underway to make the Social Security Fund (SSF) more effective. The contribution-based social security scheme was launched with much fanfare by the then government led by KP Sharma Oli in 2018.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 30: Preparations are underway to make the Social Security Fund (SSF) more effective. The contribution-based social security scheme was launched with much fanfare by the then government led by KP Sharma Oli in 2018.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Four years down the line, the fund is preparing a draft to provide up to Rs 1 million for regular contributors in case they suffer from fatal disease. At present, there is no provision to provide such amount to the contributors.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, the contributors can avail up to Rs 100,000 under the medical facility in case they fall sick. Pregnant women are also provided medical facilities. Officials of SSF say that they are doing homework to add fatal disease to the scheme and it will be implemented soon. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fund is also preparing to increase the coverage of medical facilities. So far, the fund has been bearing medical cost of the contributors alone but the facility will soon be extended to six family members, says Bivek Panthi, director of SSF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Panthi, the SSF is holding discussions to prepare the draft. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The draft is being prepared by including suggestions from the private sector as well as organisations from across the country,” Panthi told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We will finalize the draft soon,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the SSF is also planning to launch scholarship scheme. Panthi informed that the contributors who have contributed for at least three years will be entitled to the scholarship facility. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We are currently discussing who shall we provide the scholarship and how much shall be the scholarship amount,” Panthi further said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the fund Kapil Mani Gyawali informed that they were working to ensure that the SSF becomes more dynamic. He said that the draft will include as much suggestions as possible from the private sector workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “The upcoming schemes will take the SSF to new heights,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He informed that the SSF has already started providing health facilities through the automated electronic system. Gyawali believes that the contributors will not have to face the burden of submitting the medical bills to the SSF in person. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The contributors of SSF are getting hassle-free medical services from more than one hundred hospitals across the country including TU Teaching Hospital, Bir Hospital, National Trauma Centre, Patan Hospital, and Kathmandu Medical College among others.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The contributors need to show their identity cards with their SSF number clearly visible to avail facilities from these hospitals. Earlier, the contributors had to pay the bills at these hospitals themselves and would get refunded later after presenting the bills to the SSF. Now with the automated system in place, the contributors only need to pay 20 percent of the total amount. In case of an accident, the SSF will refund 100 amount incurred in the treatment to the respective hospital. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The SSF has also started working outside the valley by setting up branch offices. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The fund has recently launched its digital app to attract the contributors. As of August 27, more than 356,000 workers affiliated to 17000 organisations of the private sector have been affiliated to the SSF.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the SSF is not free from controversy. It still has to rely on loans for meeting the day-to-day office expenses and to pay the salary of the officials.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15630', 'image' => '20220830112448_SSF (1).jpg', 'article_date' => '2022-08-30 11:24:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15888', 'article_category_id' => '1', 'title' => 'Govt Stresses on Use of Electric Appliances for Prosperous Nation', 'sub_title' => '', 'summary' => 'August 30: Minister for Energy Pampha Bhusal has said the government was working to establish a prosperous nation through industrialization, transportation service, enhancing agriculture and irrigation system and the use of electric appliances. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 30: Minister for Energy Pampha Bhusal has said the government was working to establish a prosperous nation through industrialization, transportation service, enhancing agriculture and irrigation system and the use of electric appliances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a news conference organised at the ministry on Sunday, Minister Bhusal said that the ministry has proposed programmes with the notion that power supply is for “our bright future not merely for illumination”. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhusal said that the government has prioritized development of substations, transmission and distribution lines and their advancement to avail the citizens with quality power supply. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Minister Bhusal stated that her 13-month-long tenure as the energy minister was fruitful and effective adding that the key achievement of made during this time was the deal for Nepal's energy export. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, Nepal is exporting 364 megawatts of energy every day. </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"">"I am the sixth one to lead the energy ministry on behalf of the CPN (Maoist Centre). Power outage came to an end during the time when a Maoist leader was the energy minister and energy export has also started during my tenure," Minister Bhusal elaborated her achievement. </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"">"Furthermore, sustainable approach for development of energy sector has been adopted. This shall help narrow down (country's) trade deficit and work for other aspects of economic development," said Minister Bhusal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-30', 'modified' => '2022-08-30', 'keywords' => '', 'description' => '', 'sortorder' => '15629', 'image' => '20220830104246_Breville.jpg', 'article_date' => '2022-08-30 10:42:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15887', 'article_category_id' => '1', 'title' => 'What are the Tourism Promotion Plans of All Seven Provinces?', 'sub_title' => '', 'summary' => 'August 29: All the seven provinces have put forward various plans for the promotion of tourism industry in their respective areas.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">August 29: All the seven provinces have put forward various plans for the promotion of tourism industry in their respective areas. All the seven provinces along with the center have put forward a strategic plan to revive the tourism industry which has been badly affected by the coronavirus pandemic.</span><br /> <span style="font-family:"Arial","sans-serif"">Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha says that the ministry has taken the initiative to celebrate the coming years from 2023 to 2033 as the Tourism Decade. We present the tourism promotion plans of all seven provinces in brief:</span><br /> <br /> <strong>Province 1</strong><br /> Minister for Culture and Tourism of Province 1, Khinu Longwa Limbu says that the state government has formulated the Tourism Act in 2076 and discussions have been held with inter-provincial and private sector tourism entrepreneurs for the development of tourism in the province.<br /> <br /> <strong>Madhesh Province</strong><br /> Minister for Industry, Tourism and Forestry of Madhesh Province Shatrudhan Mahato says that Madhesh Province has given special priority to religious tourists. Vishal Ghimire, secretary of the province, informed that the development of the tourism sector here will accelerate if there is direct air flights between Madhesh province and India.<br /> <br /> <strong>Bagmati Province</strong><br /> Madan Koirala, secretary of the Ministry of Culture and Tourism of Bagmati Province, says that the province has declared the current fiscal year as a year for travelling. The state government has also allocated a budget of Rs 10 million for this purpose.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bagmati Province has announced 10 new tourist destinations. The province has allocated Rs 2 billion in the current fiscal year for the tourism sector.</span><br /> <br /> <span style="font-family:"Arial","sans-serif""><strong>Gandaki Province</strong><br /> Gyanendra Paudel, secretary of the Ministry of Tourism, Industry, Commerce and Supply of this province, says that the province is trying to forward the plan of 'one local level, one tourist destination'. Gandaki Province had issued the Tourism Act on August 9.</span><br /> <br /> <strong>Lumbini</strong> <strong>Province</strong><br /> Mahesh Chandra Neupane, secretary of the Ministry of Tourism, Rural and Urban Development of Lumbini Province, says that the province has been conducting tourism activities after formulating the Tourism Act in 2076. Lumbini province is studying the feasibility of promoting travel through waterways.<br /> <br /> <strong>Karnali</strong> <strong>Province</strong><br /> Mohan Dev Joshi, secretary of the Ministry of Industry, Tourism, Forestry and Environment of Karnali Province, says that the state government has been carrying out tourism activities after endorsing the Tourism Act in March 2078. The state government is working to attract tourists in areas like Rara Lake, Shey-Phoksundo Lake, Jajarkot Palace, Bulbule Lake among others.<br /> <br /> <strong>Far West Province</strong><br /> Man Bahadur Dhami, Minister for Industry, Tourism, Forest and Environment of Far West Province, says that the Tourism Act has reached the stage of implementation. He says that if Dhangadhi Airport can be upgraded to a regional airport, , the number of tourists in Far West will increase.</span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15628', 'image' => '20220829052537_Tourist.jpg', 'article_date' => '2022-08-29 17:24:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15886', 'article_category_id' => '1', 'title' => 'Will Operation of Pokhara International Airport Risk Paragliding Business? ', 'sub_title' => '', 'summary' => 'August 29: The prospect of operating Pokhara Regional International Airport from January next year has threatened the business of paragliding at nearby Sarangkot. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: The prospect of operating Pokhara Regional International Airport from January next year has threatened the business of paragliding at nearby Sarangkot. The adventure sport has found an important place in the tourism industry of Nepal.</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"">According to the Civil Aviation Authority of Nepal, it is not possible to operate paragliding at Sarangkot once the airport comes into operation. This has caused fear among the tourism entrepreneurs of the area.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara has over 60 paragliding companies in operation at present. This business is providing direct jobs to around 360 pilots, says Krishna Bhandari, outgoing chairperson of the Nepal Airsports Association, Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Paragliding is the identity of Pokhara," says Bhandari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The authorities concerned have been urged to take initiatives not to discontinue the sport while operating the airport. The government authorities are positive about it, says Bhandari. In an event recently held in Pokhara, Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha had assured of seeking ways to continue paragliding while operating the airport.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“In the process, air safety should not be compromised,” said Minister Shrestha. </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"">"Tourism entrepreneurs in Pokhara have demanded the conservation of paragliding, a brand name in the tourist city. There cannot be any compromise on aviation safety. We are working to continue the sport in such a way that it does not compromise aviation safety," said Minister Shrestha. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15627', 'image' => '20220829044441_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-08-29 16:44:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15885', 'article_category_id' => '1', 'title' => 'Nepal and World Bank Sign $100 Million Financing Agreement to Support Nepal’s Green Development', 'sub_title' => '', 'summary' => 'August 29: The Government of Nepal and the World Bank have signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 29: The Government of Nepal and the World Bank have signed a concessional financing agreement for $100 million (equivalent to Rs. 12.7 billion) for Green, Resilient, and Inclusive Development (GRID). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, the World Bank said that the proposed financing aims to support improvements in the enabling environment in Nepal toward a green, climate-resilient, and inclusive development. This is the first in a programmatic series of three concessional loan on GRID, the World Bank added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Joint Secretary at the International Economic Cooperation Coordination Division under the Ministry of Finance Ishwori Prasad Aryal and World Bank’s Operations Manager for the Maldives, Nepal, and Sri Lanka Lada Strelkova signed the agreement on behalf of their respective organisations amid a function held in Kathmandu on Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“In the wake of the COVID-19 pandemic, the Government of Nepal, World Bank and development partners signed the critical Kathmandu Declaration pivoting our programs in Nepal to support the country’s goals of a greener, more inclusive, and more resilient development,” the statement quoted Strelkova as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This operation is a key part of this commitment. Through this operation, we are supporting the Government’s key policy actions across sectors including water, land use, climate-smart agriculture, sustainable forest management, urban, waste, and pollution,” she added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the world bank, this first operation supports policy actions for strategic GRID transitions such as the sustainable and productive use of natural capital; resilience of urban and rural infrastructure, human capital, and livelihoods to climate and environmental risks; and more efficient and cleaner production, consumption, and mobility. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It also supports policy actions of Government of Nepal for strategic GRID transitions that help build and maintain prosperity for all, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the World Bank, the operation encourages private sector investment in greening Nepal’s economy and creating jobs and livelihoods related to areas such as community forestry, agriculture, clean air, and solid waste management. It also supports reforms for strengthening inclusion in development decision-making and access to assets and services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Nepal’s shift to the GRID approach is a strategic move during a challenging time that is full of opportunities for the country. This shift will help Nepal continue to make progress in expanding and protecting prosperity while reducing poverty in the face of compounding challenges that affect Nepal’s development prospects, including the economic recovery from COVID and the on-going disaster, climate and environmental risks,” said Joint Secretary Ishwori Prasad Aryal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15626', 'image' => '20220829033020_RS_KTM_IMGL734508292022l.jpg', 'article_date' => '2022-08-29 15:29:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15884', 'article_category_id' => '1', 'title' => ' No Pesticide Testing Lab at Customs Check Point ', 'sub_title' => '', 'summary' => 'August 29: Kanchanpur Customs Office, Gaddachauki is facing problem testing pesticide contents in fruits and vegetables imported from India, as it does not have its own pesticide testing laboratory. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: Kanchanpur Customs Office, Gaddachauki is facing problem testing pesticide contents in fruits and vegetables imported from India, as it does not have its own pesticide testing laboratory. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The office has to travel all the way to Attariya of Kailali for carrying out tests for pesticide residue. Information officer of the customs office Paramananda Joshi said they have to travel 42 kilometres away to Attariya for conducting pesticide tests. He said that the customs office lacks the laboratory as well as the lab technicians to carry out such tests. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He says that it takes two or three days to get the results from Attariya.</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"">"Neither do we have laboratory nor technicians for conducting the pesticide test. If it is early enough, the result arrives in the evening the same day we send the sample. So we allow the trucks and pick-up vans loaded with fruit and vegetables only after getting the results," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi narrated that the traders have been complaining that the delay is causing problems for the import of perishable items as it sometimes takes longer than expected to get the test results from Attariya, which also does not have enough technicians. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This means that the trucks and vans loaded with fruits and vegetables imported from India are held at the customs for one or two days since it takes a day or two to get the pesticide test report. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bishal Sunar, president of the Sabjimandi fruits and vegetables traders committee, suggested the customs office to become strict in testing the fruits and vegetables imported from India. </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"">"Imported vegetables should not be allowed entry without testing of pesticide But there needs to be a laboratory at the customs office itself,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He says that it would be easier for the traders had there been a lab at the customs office here. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, vegetable import from India has declined of late. Most of the vegetables are imported from Dadeldhura. It is said only potatoes and onions are imported from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Seventy per cent of vegetables are produced within the district and only 30 per cent is imported from outside," Sunar said. </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"">Although the local production is adequate during the season, there is shortage during the off-season due to the lack of cold storage facilities. Vegetables have to be imported from India during the off-season. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15625', 'image' => '20220829014335_p02-120209-78.jpg', 'article_date' => '2022-08-29 13:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15883', 'article_category_id' => '1', 'title' => 'Banks Competing with Each Other Over Fixed Deposit Schemes', 'sub_title' => '', 'summary' => 'August 29: Banks have started competition among themselves especially over the long-term fixed deposit schemes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">August 29: Banks have started competition among themselves especially over the long-term fixed deposit schemes. The failure of banks to attract deposits due to various reasons prompted them to introduce fixed-deposit scheme that would give the customers returns of 10 times the amount deposited initially.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bank deposits are declining due to liquidity crisis in the banking system. In such a situation, the bank have introduced plans for a period of 21 years to attract deposits from the general public by promising returns up to 10 times the initial deposit. In order to attract depositors in the schemes, banks have added facilities like insurance, credit card, and easy loans in addition to interest.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Initially, NIC Asia Bank announced the "Sarwashrestha 10x Term Plan". After that, banks including Global IME Bank, Civil Bank, Kumari Bank, Sanima Bank, and Nabil Bank also announced similar deposit schemes. Their new scheme promises to pay between two to ten times the deposit amount.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bankers say that such schemes are suitable for common people who keep long-term deposits in banks and earn interest. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Anupama Khunjeli, former chief executive officer of Mega Bank said, “The long-term deposit scheme introduced by banks is suitable for those who depend on the interest of the bank. This may increase the cost of capital for banks and make loans more expensive.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, she argues that such plans will make it easier for banks to manage resources in the long term. Banks complain that it is difficult to manage funds while investing in long-term projects by taking short-term deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, NIC Asia announced the Sarwashrestha Muddati Scheme, Civil has announced Dobbar and Tebbar Plus Scheme, Kumari has announced Dhanvridhi Muddati Scheme, Global IME has announced Chakravarti Muddati Scheme, Sanima has announced Bumper Dhamaka Muddati Scheme and Nabil Bank has announces Dhukka Muddati Scheme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from interest, banks have also introduced facilities like insurance for fixed deposits. NIC Asia's plan offers fatal disease insurance up to Rs 4,000,000, accident insurance up to Rs 4,000,000, and medical treatment insurance up to Rs 4,00,000. Civil Bank says that life insurance up to Rs 1,000,000 and accident insurance up to Rs 1,000,000 will be provided free of cost. Similarly, banks also provided facilities like concessional interest on loans, discounts on loan service charges, free credit cards and other facilities to the customers who opt for fixed deposits.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">Share of fixed deposits increases</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Due to the focus of banks on collecting fixed deposits from the general public, the share of fixed deposits in banks has increased. According to the data of Nepal Rastra Bank, at the end of the last fiscal year, the share of fixed deposits in banks has reached 55.8 percent of the total deposits of Rs 5158 billion. Until a year ago, the share of fixed deposits in banks was only 47 percent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Since the interest rate on fixed deposits is higher than general savings, the share of fixed deposits has increased while general savings has decreased. The share of general savings in banks which was 34.2 percent previous year, dropped to 27.6 percent last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Banks can give 4 percentage points more interest on fixed deposits than the minimum interest on general savings. According to the directive of NRB, the difference between the maximum and minimum interest rates given in all types of local currency deposit accounts, except call deposits, cannot be made more than 5 percentage points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In order to eliminate the competition to attract institutional deposits, NRB has introduced a provision in the monetary policy of the current financial year that the maximum interest rate offered on institutional term deposits should be at least 2 percentage points lower than the maximum interest rate offered on term deposits to the general public. Previously, this difference was only 1 percentage point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15624', 'image' => '20220829013249_Banks.jpg', 'article_date' => '2022-08-29 13:32:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15882', 'article_category_id' => '1', 'title' => 'Pokhara Int'l Airport Operating on January 1', 'sub_title' => 'Longstanding Dream of Pokhara Folks being Realised ', 'summary' => 'August 29: fter a four-and-half-decade of wait, the Pokhara Regional International Airport is now almost complete. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: fter a four-and-half-decade of wait, the Pokhara Regional International Airport is now almost complete. The Civil Aviation Authority of Nepal (CAAN), the state-owned aviation regulator, during its recent meeting announced to formally operate the airport on 1 January, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, the project worth around Rs 22 billion has witnessed 98 percent completion of construction works. The construction of 14 buildings including the domestic and international terminals and decoration has been completed. Construction of the runway, a building for air traffic control room, airport aprons, taxi ways, parking lots, footpaths, roads linking the airport with the highway and subways has been over. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport is almost ready and the work on managing a landfill site nearby and leveling of a hill at Ritthepani however remains to be accomplished, says Binesh Munakarmi, chief of the airport construction project. According to him, the leveling of hill will be complete within coming October. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"It is a matter of happiness and pride for the residents of Pokhara and entire Gandaki Province that the airport, a dream project for the Pokhara folks, is operating soon after a longstanding struggle," says Bishwo Shankar Palikhe, a person who joined a struggle demanding the construction of the project. He called for managing a landfill site nearby before the operation of the project as birds hovering around may pose risks of bird strikes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the land acquisition started long ago since 2034 BS, the construction could not move ahead due to various reasons. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The project moved ahead only when the then Prime Minister KP Sharma Oli on 13 April, 2016 laid the foundation stone of the project with the target of completing the construction works within four years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport is being upgraded with loans and grants worth around Rs 22 billion from the Exim Bank of China. The China CMC Engineering Company was awarded the contract to build the national pride project of Nepal which spans across approximately 3,700 ropanis of land. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The airport has capacity to accommodate the landing and takeoff of Airbus 320 narrow-body aircraft and Boeing 735 aircraft. Its apron has capacity of parking three large and eight small aircraft at a time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The runway is 2,500 meters in length and 45 meters wide. There are 14 domestic and international terminal buildings. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Chinese construction company four months ago handed over the project to the Government of Nepal after completing 93 percent construction work. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, experts have warned that it is not possible to operate flights until the problem relating to the dumping site nearby is resolved. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shifting the dumping ground has become a pressing issue for Pokhara Metropolitan City. The landfill site around two kilometers away from the project should be shifted to operate the airport. But, the metropolis has yet to find a suitable place for the dumping waste. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis has assured of shifting the dumping site, says Bikram Gautam, chief of the CAAN office, Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, the CAAN is preparing to fill the existing landfill site with soils extracted from leveling the Ritthepani hill. As a result, birds flying around would go elsewhere without food for them and trees for their habitat, insists CAAN. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the task is not easier, according to experts. Stating that the area is a habitat for birds including vultures and eagles, it will be difficult to drive away birds in a short span of time, argues Manshanta Ghimire, chairperson of the Pokhara Bird Society. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to available data, over 162 species of birds are found in the area. Of them, five are critically endangered and two are endangered. White vultures and brown vultures have made nests in the area since 2014, according to Ghimire. -- RSS</span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15623', 'image' => '20220829123020_Pokhara-Airport 800.jpg', 'article_date' => '2022-08-29 12:29:11', '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
