August 29: The Nepal Railway Company has been spending over Rs 50 million annually for washing a rail being operated on the Jayanagar-Kurtha…
August 29: The Nepal Railway Company has been spending over Rs 50 million annually for washing a rail being operated on the Jayanagar-Kurtha…
August 28: Mayor of the Kathmandu Metropolitan City (KMC) Balendra Shah has said the metropolis used the executive authority while demolishing illegally-built structures in the…
August 28: India's famous home appliance brand Godrej has launched a 'cash surprise' scheme targeting the upcoming festivals of Dashain and Tihar.…
August 28: Paicho Pasal Pvt Ltd, which processes and distributes the agricultural products of rural areas, is preparing to supply its products in different states of the…
August 28: Bimal Prasad Srivastav, chairman of the Industry and Commerce and Labor and Consumer Welfare Committee of the House of Representatives, recently visited the Galvanized Iron (GI) wire and sanitary pad industries which were closed due to the unfair tax policy adopted by the government.…
August 28: With the rise in unhealthy competition among cooperatives due to numerical growth, the cooperatives have started opting for spontaneous integration…
August 28: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed the need for carrying out tourism activities 12 months a year to attract as many foreign tourists to the country as…
August 28: Minister for Industry, Commerce and Supplies, Dilendra Prasad Badu informed that the ban imposed on the import of certain luxury items will be lifted as soon as…
August 28: Amid skyrocketing prices of daily essentials and fear for black marketeering, the Federation of Nepali Consumer Protection has asked the government to immediately control black marketeering, unusual price hike and supplies of sub-standard goods in the…
August 26: Customs offices under the Ministry of Finance have increased the target of revenue collection in the current fiscal…
August 26: Bangladesh has agreed to purchase 40 to 50 megawatts of electricity from Nepal within the next three…
August 26: Nepal Life Insurance Company concluded its Leadership Excellence Award Program. The company organized the event on August 21, 22 and 23 in…
August 26: NMB Bank has announced woman led and women only branches in all provinces of Nepal wthe vision of empowering women.…
August 26: A petroleum mine found in Morang has been left abandoned by the concerned…
August 26: Have you ever wondered how much interest would you get by depositing cash in banks and financial institutions at present?…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: The Nepal Railway Company has been spending over Rs 50 million annually for washing a rail being operated on the Jayanagar-Kurtha route. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The<span style="font-family:"Arial Unicode MS","sans-serif""> company shared that it has to undergo washing service in India as it lacks its own washing centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are compelled to get the rail washed in India because we do not have our own washing centre and fuel centre," said Niranjan Kumar Jha said, general manager of the company, adding, "We annually spend over Rs 50 million for the service." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jha further said that the company has to pay 28 percent tax while filling up fuel in India. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“With this we are compelled to spend huge chunk of money every year". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jha claimed that the company can earn an annual surplus of Rs 70 million if it is possible to establish Nepal’s own washing centre and fuel centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => 'rail, wash, cost, India, Nepal, Janakpur, Jaynagar, Kurtha', 'description' => '', 'sortorder' => '15622', 'image' => '20220829112120_Railwayy (1).jpeg', 'article_date' => '2022-08-29 11:20:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15880', 'article_category_id' => '1', 'title' => 'KMC Used Executive Authority to Demolish Illegally-Built Structures: Mayor Shah ', 'sub_title' => '', 'summary' => 'August 28: Mayor of the Kathmandu Metropolitan City (KMC) Balendra Shah has said the metropolis used the executive authority while demolishing illegally-built structures in the city. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Mayor of the Kathmandu Metropolitan City (KMC) Balendra Shah has said the metropolis used the executive authority while demolishing illegally-built structures in the city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was responding to public criticism that the metropolis used force to pull down unauthorized structures.</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"">"Individuals or institutions cannot build structures in their own land or the land they have been using, without authorized permission from the metropolis," reads a statement issued by Shah. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement further mentions that in course of taking construction completion certificate the concerned individuals or institutions had signed an agreement in writing that they will not build additional structures or they will pull them down upon the direction of the metropolis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has paid special focus on such things while discharging its regulatory responsibilities, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It was the first responsibility of the KMC to effectively prevent and control illegally built structures violating the agreement signed by the concerned parties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The situation in which KMC police force had to use power to pull down illegally-built structures was created after non-compliance with the 35-day notice to demolish illegally built structures, reads the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The constitution and laws have endowed the metropolis with legislative right to make laws, executive right to implement them and judicial right to mediate disputes, said the KMC. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15621', 'image' => '20220828062820_1661671729.jpg', 'article_date' => '2022-08-28 18:27:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15879', 'article_category_id' => '266', 'title' => 'Godrej’s Announces Cash Surprise Scheme', 'sub_title' => '', 'summary' => 'August 28: India's famous home appliance brand Godrej has launched a 'cash surprise' scheme targeting the upcoming festivals of Dashain and Tihar. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 28: India's famous home appliance brand Godrej has launched a 'cash surprise' scheme targeting the upcoming festivals of Dashain and Tihar. Under the scheme, customers can get attractive cashback and gifts on the purchase of Godrej home appliances. As per the company, this plan is already being implemented since last Thursday. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the scheme, customers can get up to 26 percent discount and attractive gifts on the purchase of every Godrej product. The customers will be given a discount and 6 kg of Surf Excel Matic washing powder on the purchase of front load washing machine. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also, customers will get an attractive discount and 3 kg of Surf Excel Matic washing powder on the purchase of top load washing machine. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company informed that an attractive discount can be obtained on the purchase of semi-automatic washing machine and 2 kg of Surf Excel Matic washing powder while discounts will also be given for the purchase of microwave oven.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15620', 'image' => '20220828061951_Nmemonic-scaled-e1661514238476.jpg', 'article_date' => '2022-08-28 18:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15878', 'article_category_id' => '1', 'title' => 'Paicho Pasal to Export its Products to USA', 'sub_title' => '', 'summary' => 'August 28: Paicho Pasal Pvt Ltd, which processes and distributes the agricultural products of rural areas, is preparing to supply its products in different states of the USA.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">August 28: Paicho Pasal Pvt Ltd, which processes and distributes the agricultural products of rural areas, is preparing to supply its products in different states of the USA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company plans to export its products to the United States with the aim of reaching the Nepali diaspora scattered around the world. New York-based Fancy House Inc has signed an agreement with Paicho Pasal to deliver the products under the brand of Paicho to the USA in collaboration with Nepal's Agni Exim Pvt Ltd.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Paicho's marketing manager Laxman Gaire said that it is a matter of pride for Nepalis to export products made in Nepal to the world market. “On top of that, due to our belief in Nepali products, we have been supplying Paicho products to Japan, Australia and many countries in Europe since the past,” said Gaire.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He said that the products are being delivered to the Nepali community living in the US due to the increasing demand for Nepali products.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company said that it is proud to process and export the agricultural products produced by the farmers of the hill and highland areas, keeping in mind the psychology and demand of the common consumers who are hungry for Nepali taste despite living abroad for a long time.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15619', 'image' => '20220828043531_1661504446.jpg', 'article_date' => '2022-08-28 16:34:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15877', 'article_category_id' => '1', 'title' => 'House Panel Tells Industrialists to Protest if Finance Minister doesn't Address their Problems', 'sub_title' => '', 'summary' => 'August 28: Bimal Prasad Srivastav, chairman of the Industry and Commerce and Labor and Consumer Welfare Committee of the House of Representatives, recently visited the Galvanized Iron (GI) wire and sanitary pad industries which were closed due to the unfair tax policy adopted by the government. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 28: Bimal Prasad Srivastav, chairman of the Industry and Commerce and Labor and Consumer Welfare Committee of the House of Representatives, recently visited the Galvanized Iron (GI) wire and sanitary pad industries which were closed due to the unfair tax policy adopted by the government. During a discussion programme held after the visit, Srivastav said that he would again instruct the finance minister to correct the discriminatory tax rate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also suggested the industrialists to take to the streets if the finance minister ignores the committee directive.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Shrivastav claimed that Finance Minister Janardan Sharma was reappointed by Prime Minister Sher Bahadur Deuba upon the recommendation of the CPN Maoist Centre for personal gains.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Was there no other honest person in the same party who deserved to be the finance minister of the country?'' said Srivastav. He made such remarks because he was dissatisfied with the finance minister, who changed the tax rate that benefitted some industries while it resulted in the closure of other industries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> Prakash Rasaili, a member of the committee, said that when he went to an industry where he saw flowers earlier, he found rust and spider webs now. He said that thousands of labourers lost their jobs due to the closure of GI wire and sanitary pad industries due to the unfair policies introduced by Finance Minister Sharma through the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rasaili said that the finance minister did not stop even when the parliamentary committee instructed the government to reduce the tax rate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"The policy came in favour of some industrialists and has played a game on the national economy."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rasaili said that the finance minister ruined 22 iron industries by giving tax exemption on the import of sponge iron last year, and this year the sanitary pad and GI wire industry have been closed after the tax rate was changed. "This shows that the Minister of Finance is on the way to getting very good financial benefits," Rasaili said, adding, "No system can survive in a country where the economy is not strong." </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> He claimed that the country will lose Rs 5 billion in annual revenue, including Rs 1 billion from sanitary pads and Rs 4 billion from GI wire, due to the policy adopted by Finance Minister Sharma. However, the loss cannot be compensated by the import of GI wire and sanitary pads, Rasaili said. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Dozens of industries are closed, investment is at risk. More than two thousand labourers have become unemployed. However, the finance minister takes it for granted,” said Rasaili.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a delegation of eight MPs of the House of Representatives visited the Sunsari Morang Industrial Corridor, Navin Rizal, president of the Morang Merchants Association, said during an interaction that since the assurance given by finance minister to correct the tax rates has not been implemented, there is no option than to take to the streets. He also said that due to Nepal's diplomatic weakness, India's Mirgunj Bridge could not be put into operation despite its construction. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15618', 'image' => '20220828033826_1661467686.Clipboard09.jpg', 'article_date' => '2022-08-28 15:37:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15876', 'article_category_id' => '1', 'title' => 'Big Merger: Five Cooperatives of Kathmandu Decide to Merge', 'sub_title' => '', 'summary' => 'August 28: With the rise in unhealthy competition among cooperatives due to numerical growth, the cooperatives have started opting for spontaneous integration (merger).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 28: With the rise in unhealthy competition among cooperatives due to numerical growth, the cooperatives have started opting for spontaneous integration (merger). Although the Department of Cooperatives had introduced the merger procedure in 2070, the cooperatives were skeptical about merger until now. However, the cooperatives have realized the need of merger in recent times. The wave of merger of cooperatives has started after it became difficult for them to survive in the competitive market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Recently, five cooperatives of Kathmandu have entered into an agreement to merge with each other. Idol Yamuna Multipurpose Cooperative, National Namobuddha Savings and Loan Cooperative, Citizen Welfare Multipurpose Cooperative, Satkar Savings and Loan Cooperative and Ghedung Multipurpose Cooperative Limited have entered into an agreement to merge on Saturday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">After the merger, the annual transaction of the organization will exceed Rs 9 billion and the savings will exceed Rs 5.637 billion. The loan investment of the organization will reach Rs 4. 99 billion. It was informed that the valuation of the total assets of the organization will reach Rs 7.58 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the name of the cooperative after the merger will be 'National Idol Yamuna Savings and Loans Cooperative Limited'. The cooperatives have agreed that Gyan Bahadur Tamang will be the president of the organization and Kuyang Lama will be the executive head.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">After the merger, the share capital of the organization will be Rs 308.1 million, the number of members will be 35, 020 and the number of debtors will be 6,858.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The officials of the cooperatives believe that the merger will improve the institutional governance, reduce operational and other costs and enhance accountability and increase trust among the members.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15617', 'image' => '20220828024150_1661639098.Clipboard19.jpg', 'article_date' => '2022-08-28 14:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15875', 'article_category_id' => '1', 'title' => 'Round the Year Tourism Activities to Attract Foreign Tourists: Minister Shrestha ', 'sub_title' => '', 'summary' => 'August 28: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed the need for carrying out tourism activities 12 months a year to attract as many foreign tourists to the country as possible. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed the need for carrying out tourism activities 12 months a year to attract as many foreign tourists to the country as possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the country's economy would be boosted through tourism, the minister said, "Nepal has diverse climate and weather favourable to carry out tourism activities 12 months a year. To attract foreign tourists, there is a need to market the country's religious, cultural and heritage sites in the international level." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Shrestha made such remarks while addressing a meeting of the thematic committee on tourism at the federal, provincial and local levels organised on Saturday by the ministry itself. </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"">“All important tourist destinations in all seven provinces should be branded and sports tourism, medical tourism and education and culture tourism need to be prioritised and promoted,” he said. For tourism development, there should be coordination among the government at all three levels, added Minister Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Tourism is a vital base for the country's development. The country can attain prosperity by prioritising tourism sector as it helps create job opportunities and bring in foreign currency." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Tourism Secretary Suresh Adhikari said the ministry had moved ahead with plans and programmes for policy reforms in line with the spirit and framework of federalism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All three tiers of governments should come together to revive tourism sector marred by COVID-19, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Mayor of Pokhara Metropolitan City Dhan Raj Acharya demanded declaration of Pokhara as the tourist capital of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the joint secretary at the tourism ministry Tara Nath Adhikari and executive chief of the Nepal Tourism Board, Dr Dhananjaya Regmi gave a presentation on tourism activities. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15616', 'image' => '20220828021403_Tourist.jpg', 'article_date' => '2022-08-28 14:13:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15874', 'article_category_id' => '1', 'title' => '‘Ban on Import of Ten Items will be Lifted Soon’', 'sub_title' => '', 'summary' => 'August 28: Minister for Industry, Commerce and Supplies, Dilendra Prasad Badu informed that the ban imposed on the import of certain luxury items will be lifted as soon as possible.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 28: Minister for Industry, Commerce and Supplies, Dilendra Prasad Badu informed that the ban imposed on the import of certain luxury items will be lifted as soon as possible. The government has banned imports of ten items to prevent further decline in foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While addressing the opening session of the 42nd Annual General Meeting of the Nepal Foreign Trade Association (NFTA) on Friday, Minister Badu reiterated that the government banned the import of some luxury goods in order to preserve the foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“As soon as there are signs of improvement in the economy, usual trade will continue. The government is always ready to address the demands of businessmen related to the import and export sector,” said Minister Badu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Badu gave such an assurance in response to the demands made by other speakers during the programme to lift the ban on imports. Due to the decline in the foreign exchange reserves, the government had banned the import of 10 items including vehicles for private purposes and foreign liquor from April 26. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Badu also said that the government is ready to resolve the problems of the export-import sector as per the suggestions of industrialists and added that he is expecting constructive suggestions in favor of a strong economy. He expressed his commitment to form a policy based on the opinions and suggestions received from the organizations related to the industrial and business sectors. In the same programme, former Minister of State for Industry, Commerce and Supplies, Motilal Dugad questioned the rationale behind banning imports, saying that all the goods that were banned from import were entering unhindered from illegal routes. He also requested the government to address the demands of industrialists who are known as the backbone of the economic sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Shekhar Golchha, president of the Federation of Nepalese Chamber of Commerce and Industry, said that although adverse conditions have been created due to the Covid-19 pandemic, there has been an increase in national and international investment in the country's industry and trade sector. Kamlesh Agrawal, senior vice president of Nepal Chamber of Commerce said that using monetary instruments to stop imports is not a solution to the problem. He also informed that import substitution will take time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Agrawal also expressed his displeasure with the limit set by the Nepal Rastra Bank on current capital. He argued that the policy of controlling economic activities will not allow the government to meet its revenue targets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">President of the NFTA, Sunil Kumar Bansal, expressed concern over the sluggish development and capital expenditure in the country, protracted liquidity crisis, increase in interest rates of banks and migration of labor force to foreign countries, and stressed the need for cooperation between the government and the private sector for a prosperous and strong economy. He also requested the government to reduce the customs duty, lift the ban on imports and maintain multiple rates on value addition. Binod Kumar Sethia, senior vice-president of the association, requested the government to trust the private sector and proceed in the direction of improving the country's economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15615', 'image' => '20220828122151_20220428025847_nepal-major-imports-update.jpg', 'article_date' => '2022-08-28 12:21:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15873', 'article_category_id' => '1', 'title' => 'Govt Urged to Curb Black Marketing ', 'sub_title' => '', 'summary' => 'August 28: Amid skyrocketing prices of daily essentials and fear for black marketeering, the Federation of Nepali Consumer Protection has asked the government to immediately control black marketeering, unusual price hike and supplies of sub-standard goods in the market. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Amid skyrocketing prices of daily essentials and fear for black marketeering, the Federation of Nepali Consumer Protection has asked the government to immediately control black marketing, unusual price hike and supplies of sub-standard goods in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federation made such demands during a recent press conference, arguing that price hike and supplies of sub-standard goods have economic and health impacts on the general public. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairman of the federation Chandra Saud said Nepali consumers have been conned in the hands of black marketers, and asked the government to take steps against such ill-practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior Vice-Chairman of the federation Indra Raj Bhattarai argued that the consumers themselves should be cautious to the unusual price hike and the government should book anyone for their involvement against consumers' rights. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eleven associations working for the consumers' welfare and rights from all seven provinces are affiliated with the federation. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15614', 'image' => '20220828113339_market monitoring.jpg', 'article_date' => '2022-08-28 11:32:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15872', 'article_category_id' => '1', 'title' => 'Revenue Target Increases while Trade Volume Declines', 'sub_title' => '', 'summary' => 'August 26: Customs offices under the Ministry of Finance have increased the target of revenue collection in the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">August 26: Customs offices under the Ministry of Finance have increased the target of revenue collection in the current fiscal year. Although the revenue target for the current fiscal year has increased, the volume of foreign trade has been declining.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">As the volume of foreign trade has decreased, the officials of the Department of Customs are not confident that the revenue target will be met. Due to the tightening of imports to reduce the pressure on foreign exchange reserves, import business has declined obviousbly.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Concerned officials are expecting a decline in revenue collection from customs duty due to the decline in foreign trade. In such a situation, the target of the customs offices cannot be fulfilled, the officials argue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Signs of this have already been seen in the first month of the current year at Birgunj Customs, which is the largest port in terms of import and export of the country. This customs could not collect revenue as per the target in the first month of this year, mid-July to mid-August. According to the data, the customs office collected about 15 percent less revenue than the target.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Chief Customs Officer Harihar Paudel informed that they had set a target of collecting Rs 15.20 billion in the first month of the current fiscal year but only Rs 12.98 billion were raised. The revenue target was not met due to the decrease in business.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">If this is the case, the target will not be fulfilled in any month of the year, Paudel told New Business Age. This year, both imports and exports from Birgunj Customs have decreased compared to last month. On the basis of prices, the total trade volume has decreased by 12 percent. Out of this, import has decreased by 5 percent and export by 54 percent, according to customs data.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Vehicles, fuel and industrial raw materials are mainly imported through Birgunj checkpoint. Due to the ban on vehicle import and banks stopping loans, even the vehicles imported under old LC have piled up at the customs.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">As refined oil is the main export, its export is affected due to the import policy adopted by India. Along with the decrease in oil exports, the import of its raw materials has also decreased. Substantial quantities of semi-processed oil of soybean, palm and sunflower used to come through this channel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Birgunj Customs has set a target of collecting Rs 260 billion revenue for the current year. Last year, the customs office had a target of collecting Rs 203 billion and had collected Rs 1 billion more than the target. The target for the current year is 28 percent more than last year, said Paudel, head of Birgunj Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15613', 'image' => '20220826121120_1661487987.बीरगंज-भन्सार.jpg', 'article_date' => '2022-08-26 12:10:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15871', 'article_category_id' => '1', 'title' => 'Bangladesh to Purchase Electricity from Nepal within Three Months if India Agrees', 'sub_title' => '', 'summary' => 'August 26: Bangladesh has agreed to purchase 40 to 50 megawatts of electricity from Nepal within the next three months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 26: Bangladesh has agreed to purchase 40 to 50 megawatts of electricity from Nepal within the next three months. The decision was reached on Thursday during a meeting of the Secretary-level Joint Steering Committee (JSC) formed for energy cooperation between Nepal and Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since Indian land will be used to deliver Nepal's electricity to Bangladesh, it has been decided to settle this matter through a tripartite meeting between Nepal, India and Bangladesh. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During Thursday’s meeting, the Nepali delegation was led by Sushil Chandra Tiwari, secretary of the Ministry of Energy, Water Resources and Irrigation. The Bangladeshi delegation was led by Mohammad Habibur Rahman, secretary of the Ministry of Electricity, Energy and Mineral Resources.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Joint Secretary and Spokesperson of the Ministry of Energy, Madhu Bhetuwal, said that since the meeting concluded that up to 50 megawatts of high voltage direct current can be transmitted from Nepal to Bhedamara-HPDC structure in Bangladesh, it decided to hold a tripartite meeting within three months to finalize this matter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, a meeting will be held between the officials of Nepal Electricity Authority, Indian Electricity Trading Company and Bangladesh Power Development Board. There has been no breakthrough in electricity trade between Nepal and Bangladesh as India has so far refused to give permission. A senior official of the Ministry of Energy informed that the meeting also decided to persuade India to facilitate the electricity trade.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Joint company to build Sunkoshi-III</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the JSC meeting, Nepal and Bangladesh have agreed to form a joint venture company to build the 603 MW Sunkoshi-III reservoir-based hydropower project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Two weeks ago, the Ministry of Energy formally submitted a proposal with a feasibility study report for the construction of Sunkoshi-III. The spokesperson of the Ministry of Energy, Bhetuwal informed that the Bangladeshi authorities are ready to establish a joint venture company within four months after reviewing the feasibility study and environmental study report of the Sunkoshi-III project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“It has been agreed that the feasibility study report of the Sunkoshi-III project will be reviewed within 2 months of the approval of the environmental study report and then the process of establishing a joint venture company will be initiated,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During a meeting held in August last year, Nepal had proposed to the Government of Bangladesh for the construction of Sunkoshi-III. A team of Bangladeshi officials visited the site of Sunkoshi-III last Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sunkoshi-III project is located in Ramechhap, Sindhuli, Sindhupalchok and Kavre. This is the largest reservoir-based hydropower project in Nepal. About 4224 hectares of land around Sunkoshi and Tamakoshi rivers will be used for the construction of this project. It is estimated that this project will cost Rs 1.59 billion.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15612', 'image' => '20220826120138_Flag-Pins-Bangladesh-Nepal.jpg', 'article_date' => '2022-08-26 12:00:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15870', 'article_category_id' => '266', 'title' => 'Nepal Life Insurance Company Organisers Leadership Excellence Award', 'sub_title' => '', 'summary' => 'August 26: Nepal Life Insurance Company concluded its Leadership Excellence Award Program. The company organized the event on August 21, 22 and 23 in Pokhara.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 26: Nepal Life Insurance Company concluded its Leadership Excellence Award Program. The company organized the event on August 21, 22 and 23 in Pokhara.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The program was inaugurated by the company's Chief Executive Officer (CEO) Pravin Raman Parajuli. CEO Parajuli reviewed the past achievements of the company and informed about the strategy to be implemented by the company in the current fiscal year. On the same occasion, he also unveiled the company's corporate video.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company also informed that two agents, who made special contribution to the company, were honored with Rs 100,000 each during the same programme.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15611', 'image' => '20220826113509_1661381305.4 NLIC.jpg', 'article_date' => '2022-08-26 11:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15869', 'article_category_id' => '266', 'title' => 'NMB Bank Announces Women-led and Women Only Branches in all Provinces', 'sub_title' => '', 'summary' => 'August 26: NMB Bank has announced woman led and women only branches in all provinces of Nepal wthe vision of empowering women. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">August 26: NMB Bank has announced woman led and women only branches in all provinces of Nepal wthe vision of empowering women. The announcement was made in a recent interactive programme where women from different areas who are actively working towards women empowerment shared their experiences.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a statement, the bank said sustainability has always been one of the key focus areas for NMB Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">“Gender equality and women empowerment is one of the goals in achieving a sustainable future. With 51.04% of women accounting for the total population of the nation, the bank believes empowering women to succeed as entrepreneurs and leaders would craft the makings of a truly sustainable Nepal,” the statement added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The women-led branches of NMB Bank have been set up in Tankisinuwari of Province and Mahottaro of Madhes Province. Likewise, such branches have also been established in Balkhu of Bagmati Province, Chauthe of Gandaki Province, Bhalwari of Lumbini Province and Dhangadhi of Sudur Paschim Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">NMB Bank, which has been awarded the prestigious Bank of the Year Asia 2021 by The Banker Magazine of London-based Financial Times, is currently providing its services through 201 branches, 138 ATMs and 11 extension counters.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15610', 'image' => '20220826113135_Picture.jpg', 'article_date' => '2022-08-26 11:30:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15868', 'article_category_id' => '1', 'title' => 'Petroleum Mine in Morang Turns into a Grazing Field', 'sub_title' => '', 'summary' => 'August 26: A petroleum mine found in Morang has been left abandoned by the concerned authorities.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 26: A petroleum mine found in Morang has been left abandoned by the concerned authorities. Although there is a petroleum mine in the country, the government has done anything significant for the proper utilization of the mine, reports the national news agency RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal, which is highly dependent on foreign countries for petroleum products, has ten such mines of its own. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has already started exploring a petroleum mine in Dailekh since 2019 with financial and technical support from the Government of China. But the petroleum mine in Bahuni of Belbari Municipality-8 of Morang has turned into a grazing field for cattle, RSS further reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A building constructed for the exploration is in ruins. The raw materials brought for exploration have also been damaged. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A foreign private company in collaboration with the government had carried out exploration of the mine in Morang more than 34 years ago. However, the mine turned into a grazing field as the government could not give continuity to the exploration work, says a local Kul Bahadur Bhandari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The foreign company had excavated the ground up to three and a half kilometers in six months. However, there has been no progress since then even after thirty four years, says another local Yam Prasad Timilsina.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Mines and Geology had acquired land from the locals for exploring the mine. But the land has turned into a deserted field due to the negligence of the government. </span></span></p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15609', 'image' => '20220826112242_Untitled.jpg', 'article_date' => '2022-08-26 11:21:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15867', 'article_category_id' => '1', 'title' => 'Microfinance Company Found Providing One Percent Interest on Deposits', 'sub_title' => '', 'summary' => 'August 26: Have you ever wondered how much interest would you get by depositing cash in banks and financial institutions at present? ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yadav Humagain</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 26: Have you ever wondered how much interest would you get by depositing cash in banks and financial institutions at present? Commercial banks are providing interest on deposits in double digit (as high as 11.3 percent). Development banks, finance companies and cooperatives give even higher interest than commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At a time when banks and financial institutions are competing with each other to increase interest rate to attract deposits, microfinance companies are found to have collected deposits by giving just one percent interest. The same microfinance companies are disbursing loans to the customers at 15 percent interest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the data of mid-April 2022 released by Nepal Rastra Bank, the average interest on optional savings provided by micro finance companies stood at 6.36 percent. Among the microfinance companies, NIC Asia Microfinance Company was found giving interest of 1 percent on deposits to its customers which is the lowest among all microfinance companies. Although some microfinance companies give interest between 10 to 15 percent, majority of them provide interest in single digit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, microfinance companies are found providing interest on compulsory savings at lower rate than the market rate. As per the data of the central bank, the average interest on compulsory savings of microfinance companies stood at 5.28 percent in mid-April 2022. Some microfinance companies had provided interest of 2 percent at that time. Only a handful of microfinance companies had provided interest in double digits for compulsory savings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The average interest on deposits of commercial banks is 7.41 percent as of mid-July this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Microfinance Bankers Association Prakash Raj Sharma insists that the interest provided by microfinance companies should be competitive. He says it is not right to give interest as low as 1 to 2 percent in the present context. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The interest rate of microfinance companies should be somewhere around that of commercial banks,” said Sharma, adding, “It is not fair to provide interest lower than the rate prevalent in the market.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-April this year, the total number of customers of microfinance companies has reached 57,72,000. Among them, the microfinance companies have provided loans of Rs 449 billion to around 32,47,000 customers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The microfinance companies have collected deposits worth Rs 112.91 including Rs 35.56 under the heading of compulsory savings and Rs 77.34 under optional savings till date. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Microfinance companies have been receiving the deprived sector lending of BFIs and then disbursing the amount among the people of the deprived sector who do not have access to banking system. Although the microfinance companies cannot collect deposits from the general public, they collect deposits from the debtors under the headings of compulsory and optional savings. There is also a mandatory provision of depositing money in microfinance companies in order to receive loans. Therefore, the borrowers are compelled to get low interest on deposits. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Microfinance Bankers Association has been demanding base rate and spread rate similar to that of commercial banks. President Sharma believes that this will help in proper management of interest rate.</span></span></p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15608', 'image' => '20220826104901_low-interest-rates.jpg', 'article_date' => '2022-08-26 10:48:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: The Nepal Railway Company has been spending over Rs 50 million annually for washing a rail being operated on the Jayanagar-Kurtha route. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The<span style="font-family:"Arial Unicode MS","sans-serif""> company shared that it has to undergo washing service in India as it lacks its own washing centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are compelled to get the rail washed in India because we do not have our own washing centre and fuel centre," said Niranjan Kumar Jha said, general manager of the company, adding, "We annually spend over Rs 50 million for the service." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jha further said that the company has to pay 28 percent tax while filling up fuel in India. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“With this we are compelled to spend huge chunk of money every year". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jha claimed that the company can earn an annual surplus of Rs 70 million if it is possible to establish Nepal’s own washing centre and fuel centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => 'rail, wash, cost, India, Nepal, Janakpur, Jaynagar, Kurtha', 'description' => '', 'sortorder' => '15622', 'image' => '20220829112120_Railwayy (1).jpeg', 'article_date' => '2022-08-29 11:20:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15880', 'article_category_id' => '1', 'title' => 'KMC Used Executive Authority to Demolish Illegally-Built Structures: Mayor Shah ', 'sub_title' => '', 'summary' => 'August 28: Mayor of the Kathmandu Metropolitan City (KMC) Balendra Shah has said the metropolis used the executive authority while demolishing illegally-built structures in the city. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Mayor of the Kathmandu Metropolitan City (KMC) Balendra Shah has said the metropolis used the executive authority while demolishing illegally-built structures in the city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was responding to public criticism that the metropolis used force to pull down unauthorized structures.</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"">"Individuals or institutions cannot build structures in their own land or the land they have been using, without authorized permission from the metropolis," reads a statement issued by Shah. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement further mentions that in course of taking construction completion certificate the concerned individuals or institutions had signed an agreement in writing that they will not build additional structures or they will pull them down upon the direction of the metropolis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has paid special focus on such things while discharging its regulatory responsibilities, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It was the first responsibility of the KMC to effectively prevent and control illegally built structures violating the agreement signed by the concerned parties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The situation in which KMC police force had to use power to pull down illegally-built structures was created after non-compliance with the 35-day notice to demolish illegally built structures, reads the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The constitution and laws have endowed the metropolis with legislative right to make laws, executive right to implement them and judicial right to mediate disputes, said the KMC. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15621', 'image' => '20220828062820_1661671729.jpg', 'article_date' => '2022-08-28 18:27:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15879', 'article_category_id' => '266', 'title' => 'Godrej’s Announces Cash Surprise Scheme', 'sub_title' => '', 'summary' => 'August 28: India's famous home appliance brand Godrej has launched a 'cash surprise' scheme targeting the upcoming festivals of Dashain and Tihar. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 28: India's famous home appliance brand Godrej has launched a 'cash surprise' scheme targeting the upcoming festivals of Dashain and Tihar. Under the scheme, customers can get attractive cashback and gifts on the purchase of Godrej home appliances. As per the company, this plan is already being implemented since last Thursday. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the scheme, customers can get up to 26 percent discount and attractive gifts on the purchase of every Godrej product. The customers will be given a discount and 6 kg of Surf Excel Matic washing powder on the purchase of front load washing machine. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also, customers will get an attractive discount and 3 kg of Surf Excel Matic washing powder on the purchase of top load washing machine. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company informed that an attractive discount can be obtained on the purchase of semi-automatic washing machine and 2 kg of Surf Excel Matic washing powder while discounts will also be given for the purchase of microwave oven.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15620', 'image' => '20220828061951_Nmemonic-scaled-e1661514238476.jpg', 'article_date' => '2022-08-28 18:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15878', 'article_category_id' => '1', 'title' => 'Paicho Pasal to Export its Products to USA', 'sub_title' => '', 'summary' => 'August 28: Paicho Pasal Pvt Ltd, which processes and distributes the agricultural products of rural areas, is preparing to supply its products in different states of the USA.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">August 28: Paicho Pasal Pvt Ltd, which processes and distributes the agricultural products of rural areas, is preparing to supply its products in different states of the USA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company plans to export its products to the United States with the aim of reaching the Nepali diaspora scattered around the world. New York-based Fancy House Inc has signed an agreement with Paicho Pasal to deliver the products under the brand of Paicho to the USA in collaboration with Nepal's Agni Exim Pvt Ltd.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Paicho's marketing manager Laxman Gaire said that it is a matter of pride for Nepalis to export products made in Nepal to the world market. “On top of that, due to our belief in Nepali products, we have been supplying Paicho products to Japan, Australia and many countries in Europe since the past,” said Gaire.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He said that the products are being delivered to the Nepali community living in the US due to the increasing demand for Nepali products.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company said that it is proud to process and export the agricultural products produced by the farmers of the hill and highland areas, keeping in mind the psychology and demand of the common consumers who are hungry for Nepali taste despite living abroad for a long time.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15619', 'image' => '20220828043531_1661504446.jpg', 'article_date' => '2022-08-28 16:34:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15877', 'article_category_id' => '1', 'title' => 'House Panel Tells Industrialists to Protest if Finance Minister doesn't Address their Problems', 'sub_title' => '', 'summary' => 'August 28: Bimal Prasad Srivastav, chairman of the Industry and Commerce and Labor and Consumer Welfare Committee of the House of Representatives, recently visited the Galvanized Iron (GI) wire and sanitary pad industries which were closed due to the unfair tax policy adopted by the government. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 28: Bimal Prasad Srivastav, chairman of the Industry and Commerce and Labor and Consumer Welfare Committee of the House of Representatives, recently visited the Galvanized Iron (GI) wire and sanitary pad industries which were closed due to the unfair tax policy adopted by the government. During a discussion programme held after the visit, Srivastav said that he would again instruct the finance minister to correct the discriminatory tax rate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also suggested the industrialists to take to the streets if the finance minister ignores the committee directive.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Shrivastav claimed that Finance Minister Janardan Sharma was reappointed by Prime Minister Sher Bahadur Deuba upon the recommendation of the CPN Maoist Centre for personal gains.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Was there no other honest person in the same party who deserved to be the finance minister of the country?'' said Srivastav. He made such remarks because he was dissatisfied with the finance minister, who changed the tax rate that benefitted some industries while it resulted in the closure of other industries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> Prakash Rasaili, a member of the committee, said that when he went to an industry where he saw flowers earlier, he found rust and spider webs now. He said that thousands of labourers lost their jobs due to the closure of GI wire and sanitary pad industries due to the unfair policies introduced by Finance Minister Sharma through the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rasaili said that the finance minister did not stop even when the parliamentary committee instructed the government to reduce the tax rate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"The policy came in favour of some industrialists and has played a game on the national economy."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rasaili said that the finance minister ruined 22 iron industries by giving tax exemption on the import of sponge iron last year, and this year the sanitary pad and GI wire industry have been closed after the tax rate was changed. "This shows that the Minister of Finance is on the way to getting very good financial benefits," Rasaili said, adding, "No system can survive in a country where the economy is not strong." </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> He claimed that the country will lose Rs 5 billion in annual revenue, including Rs 1 billion from sanitary pads and Rs 4 billion from GI wire, due to the policy adopted by Finance Minister Sharma. However, the loss cannot be compensated by the import of GI wire and sanitary pads, Rasaili said. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Dozens of industries are closed, investment is at risk. More than two thousand labourers have become unemployed. However, the finance minister takes it for granted,” said Rasaili.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a delegation of eight MPs of the House of Representatives visited the Sunsari Morang Industrial Corridor, Navin Rizal, president of the Morang Merchants Association, said during an interaction that since the assurance given by finance minister to correct the tax rates has not been implemented, there is no option than to take to the streets. He also said that due to Nepal's diplomatic weakness, India's Mirgunj Bridge could not be put into operation despite its construction. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15618', 'image' => '20220828033826_1661467686.Clipboard09.jpg', 'article_date' => '2022-08-28 15:37:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15876', 'article_category_id' => '1', 'title' => 'Big Merger: Five Cooperatives of Kathmandu Decide to Merge', 'sub_title' => '', 'summary' => 'August 28: With the rise in unhealthy competition among cooperatives due to numerical growth, the cooperatives have started opting for spontaneous integration (merger).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 28: With the rise in unhealthy competition among cooperatives due to numerical growth, the cooperatives have started opting for spontaneous integration (merger). Although the Department of Cooperatives had introduced the merger procedure in 2070, the cooperatives were skeptical about merger until now. However, the cooperatives have realized the need of merger in recent times. The wave of merger of cooperatives has started after it became difficult for them to survive in the competitive market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Recently, five cooperatives of Kathmandu have entered into an agreement to merge with each other. Idol Yamuna Multipurpose Cooperative, National Namobuddha Savings and Loan Cooperative, Citizen Welfare Multipurpose Cooperative, Satkar Savings and Loan Cooperative and Ghedung Multipurpose Cooperative Limited have entered into an agreement to merge on Saturday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">After the merger, the annual transaction of the organization will exceed Rs 9 billion and the savings will exceed Rs 5.637 billion. The loan investment of the organization will reach Rs 4. 99 billion. It was informed that the valuation of the total assets of the organization will reach Rs 7.58 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the name of the cooperative after the merger will be 'National Idol Yamuna Savings and Loans Cooperative Limited'. The cooperatives have agreed that Gyan Bahadur Tamang will be the president of the organization and Kuyang Lama will be the executive head.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">After the merger, the share capital of the organization will be Rs 308.1 million, the number of members will be 35, 020 and the number of debtors will be 6,858.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The officials of the cooperatives believe that the merger will improve the institutional governance, reduce operational and other costs and enhance accountability and increase trust among the members.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15617', 'image' => '20220828024150_1661639098.Clipboard19.jpg', 'article_date' => '2022-08-28 14:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15875', 'article_category_id' => '1', 'title' => 'Round the Year Tourism Activities to Attract Foreign Tourists: Minister Shrestha ', 'sub_title' => '', 'summary' => 'August 28: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed the need for carrying out tourism activities 12 months a year to attract as many foreign tourists to the country as possible. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed the need for carrying out tourism activities 12 months a year to attract as many foreign tourists to the country as possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the country's economy would be boosted through tourism, the minister said, "Nepal has diverse climate and weather favourable to carry out tourism activities 12 months a year. To attract foreign tourists, there is a need to market the country's religious, cultural and heritage sites in the international level." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Shrestha made such remarks while addressing a meeting of the thematic committee on tourism at the federal, provincial and local levels organised on Saturday by the ministry itself. </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"">“All important tourist destinations in all seven provinces should be branded and sports tourism, medical tourism and education and culture tourism need to be prioritised and promoted,” he said. For tourism development, there should be coordination among the government at all three levels, added Minister Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Tourism is a vital base for the country's development. The country can attain prosperity by prioritising tourism sector as it helps create job opportunities and bring in foreign currency." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Tourism Secretary Suresh Adhikari said the ministry had moved ahead with plans and programmes for policy reforms in line with the spirit and framework of federalism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All three tiers of governments should come together to revive tourism sector marred by COVID-19, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Mayor of Pokhara Metropolitan City Dhan Raj Acharya demanded declaration of Pokhara as the tourist capital of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the joint secretary at the tourism ministry Tara Nath Adhikari and executive chief of the Nepal Tourism Board, Dr Dhananjaya Regmi gave a presentation on tourism activities. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15616', 'image' => '20220828021403_Tourist.jpg', 'article_date' => '2022-08-28 14:13:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15874', 'article_category_id' => '1', 'title' => '‘Ban on Import of Ten Items will be Lifted Soon’', 'sub_title' => '', 'summary' => 'August 28: Minister for Industry, Commerce and Supplies, Dilendra Prasad Badu informed that the ban imposed on the import of certain luxury items will be lifted as soon as possible.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 28: Minister for Industry, Commerce and Supplies, Dilendra Prasad Badu informed that the ban imposed on the import of certain luxury items will be lifted as soon as possible. The government has banned imports of ten items to prevent further decline in foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While addressing the opening session of the 42nd Annual General Meeting of the Nepal Foreign Trade Association (NFTA) on Friday, Minister Badu reiterated that the government banned the import of some luxury goods in order to preserve the foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“As soon as there are signs of improvement in the economy, usual trade will continue. The government is always ready to address the demands of businessmen related to the import and export sector,” said Minister Badu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Badu gave such an assurance in response to the demands made by other speakers during the programme to lift the ban on imports. Due to the decline in the foreign exchange reserves, the government had banned the import of 10 items including vehicles for private purposes and foreign liquor from April 26. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Badu also said that the government is ready to resolve the problems of the export-import sector as per the suggestions of industrialists and added that he is expecting constructive suggestions in favor of a strong economy. He expressed his commitment to form a policy based on the opinions and suggestions received from the organizations related to the industrial and business sectors. In the same programme, former Minister of State for Industry, Commerce and Supplies, Motilal Dugad questioned the rationale behind banning imports, saying that all the goods that were banned from import were entering unhindered from illegal routes. He also requested the government to address the demands of industrialists who are known as the backbone of the economic sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Shekhar Golchha, president of the Federation of Nepalese Chamber of Commerce and Industry, said that although adverse conditions have been created due to the Covid-19 pandemic, there has been an increase in national and international investment in the country's industry and trade sector. Kamlesh Agrawal, senior vice president of Nepal Chamber of Commerce said that using monetary instruments to stop imports is not a solution to the problem. He also informed that import substitution will take time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Agrawal also expressed his displeasure with the limit set by the Nepal Rastra Bank on current capital. He argued that the policy of controlling economic activities will not allow the government to meet its revenue targets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">President of the NFTA, Sunil Kumar Bansal, expressed concern over the sluggish development and capital expenditure in the country, protracted liquidity crisis, increase in interest rates of banks and migration of labor force to foreign countries, and stressed the need for cooperation between the government and the private sector for a prosperous and strong economy. He also requested the government to reduce the customs duty, lift the ban on imports and maintain multiple rates on value addition. Binod Kumar Sethia, senior vice-president of the association, requested the government to trust the private sector and proceed in the direction of improving the country's economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15615', 'image' => '20220828122151_20220428025847_nepal-major-imports-update.jpg', 'article_date' => '2022-08-28 12:21:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15873', 'article_category_id' => '1', 'title' => 'Govt Urged to Curb Black Marketing ', 'sub_title' => '', 'summary' => 'August 28: Amid skyrocketing prices of daily essentials and fear for black marketeering, the Federation of Nepali Consumer Protection has asked the government to immediately control black marketeering, unusual price hike and supplies of sub-standard goods in the market. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Amid skyrocketing prices of daily essentials and fear for black marketeering, the Federation of Nepali Consumer Protection has asked the government to immediately control black marketing, unusual price hike and supplies of sub-standard goods in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federation made such demands during a recent press conference, arguing that price hike and supplies of sub-standard goods have economic and health impacts on the general public. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairman of the federation Chandra Saud said Nepali consumers have been conned in the hands of black marketers, and asked the government to take steps against such ill-practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior Vice-Chairman of the federation Indra Raj Bhattarai argued that the consumers themselves should be cautious to the unusual price hike and the government should book anyone for their involvement against consumers' rights. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eleven associations working for the consumers' welfare and rights from all seven provinces are affiliated with the federation. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15614', 'image' => '20220828113339_market monitoring.jpg', 'article_date' => '2022-08-28 11:32:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15872', 'article_category_id' => '1', 'title' => 'Revenue Target Increases while Trade Volume Declines', 'sub_title' => '', 'summary' => 'August 26: Customs offices under the Ministry of Finance have increased the target of revenue collection in the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">August 26: Customs offices under the Ministry of Finance have increased the target of revenue collection in the current fiscal year. Although the revenue target for the current fiscal year has increased, the volume of foreign trade has been declining.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">As the volume of foreign trade has decreased, the officials of the Department of Customs are not confident that the revenue target will be met. Due to the tightening of imports to reduce the pressure on foreign exchange reserves, import business has declined obviousbly.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Concerned officials are expecting a decline in revenue collection from customs duty due to the decline in foreign trade. In such a situation, the target of the customs offices cannot be fulfilled, the officials argue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Signs of this have already been seen in the first month of the current year at Birgunj Customs, which is the largest port in terms of import and export of the country. This customs could not collect revenue as per the target in the first month of this year, mid-July to mid-August. According to the data, the customs office collected about 15 percent less revenue than the target.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Chief Customs Officer Harihar Paudel informed that they had set a target of collecting Rs 15.20 billion in the first month of the current fiscal year but only Rs 12.98 billion were raised. The revenue target was not met due to the decrease in business.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">If this is the case, the target will not be fulfilled in any month of the year, Paudel told New Business Age. This year, both imports and exports from Birgunj Customs have decreased compared to last month. On the basis of prices, the total trade volume has decreased by 12 percent. Out of this, import has decreased by 5 percent and export by 54 percent, according to customs data.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Vehicles, fuel and industrial raw materials are mainly imported through Birgunj checkpoint. Due to the ban on vehicle import and banks stopping loans, even the vehicles imported under old LC have piled up at the customs.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">As refined oil is the main export, its export is affected due to the import policy adopted by India. Along with the decrease in oil exports, the import of its raw materials has also decreased. Substantial quantities of semi-processed oil of soybean, palm and sunflower used to come through this channel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Birgunj Customs has set a target of collecting Rs 260 billion revenue for the current year. Last year, the customs office had a target of collecting Rs 203 billion and had collected Rs 1 billion more than the target. The target for the current year is 28 percent more than last year, said Paudel, head of Birgunj Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15613', 'image' => '20220826121120_1661487987.बीरगंज-भन्सार.jpg', 'article_date' => '2022-08-26 12:10:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15871', 'article_category_id' => '1', 'title' => 'Bangladesh to Purchase Electricity from Nepal within Three Months if India Agrees', 'sub_title' => '', 'summary' => 'August 26: Bangladesh has agreed to purchase 40 to 50 megawatts of electricity from Nepal within the next three months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 26: Bangladesh has agreed to purchase 40 to 50 megawatts of electricity from Nepal within the next three months. The decision was reached on Thursday during a meeting of the Secretary-level Joint Steering Committee (JSC) formed for energy cooperation between Nepal and Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since Indian land will be used to deliver Nepal's electricity to Bangladesh, it has been decided to settle this matter through a tripartite meeting between Nepal, India and Bangladesh. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During Thursday’s meeting, the Nepali delegation was led by Sushil Chandra Tiwari, secretary of the Ministry of Energy, Water Resources and Irrigation. The Bangladeshi delegation was led by Mohammad Habibur Rahman, secretary of the Ministry of Electricity, Energy and Mineral Resources.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Joint Secretary and Spokesperson of the Ministry of Energy, Madhu Bhetuwal, said that since the meeting concluded that up to 50 megawatts of high voltage direct current can be transmitted from Nepal to Bhedamara-HPDC structure in Bangladesh, it decided to hold a tripartite meeting within three months to finalize this matter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, a meeting will be held between the officials of Nepal Electricity Authority, Indian Electricity Trading Company and Bangladesh Power Development Board. There has been no breakthrough in electricity trade between Nepal and Bangladesh as India has so far refused to give permission. A senior official of the Ministry of Energy informed that the meeting also decided to persuade India to facilitate the electricity trade.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Joint company to build Sunkoshi-III</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the JSC meeting, Nepal and Bangladesh have agreed to form a joint venture company to build the 603 MW Sunkoshi-III reservoir-based hydropower project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Two weeks ago, the Ministry of Energy formally submitted a proposal with a feasibility study report for the construction of Sunkoshi-III. The spokesperson of the Ministry of Energy, Bhetuwal informed that the Bangladeshi authorities are ready to establish a joint venture company within four months after reviewing the feasibility study and environmental study report of the Sunkoshi-III project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“It has been agreed that the feasibility study report of the Sunkoshi-III project will be reviewed within 2 months of the approval of the environmental study report and then the process of establishing a joint venture company will be initiated,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During a meeting held in August last year, Nepal had proposed to the Government of Bangladesh for the construction of Sunkoshi-III. A team of Bangladeshi officials visited the site of Sunkoshi-III last Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sunkoshi-III project is located in Ramechhap, Sindhuli, Sindhupalchok and Kavre. This is the largest reservoir-based hydropower project in Nepal. About 4224 hectares of land around Sunkoshi and Tamakoshi rivers will be used for the construction of this project. It is estimated that this project will cost Rs 1.59 billion.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15612', 'image' => '20220826120138_Flag-Pins-Bangladesh-Nepal.jpg', 'article_date' => '2022-08-26 12:00:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15870', 'article_category_id' => '266', 'title' => 'Nepal Life Insurance Company Organisers Leadership Excellence Award', 'sub_title' => '', 'summary' => 'August 26: Nepal Life Insurance Company concluded its Leadership Excellence Award Program. The company organized the event on August 21, 22 and 23 in Pokhara.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 26: Nepal Life Insurance Company concluded its Leadership Excellence Award Program. The company organized the event on August 21, 22 and 23 in Pokhara.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The program was inaugurated by the company's Chief Executive Officer (CEO) Pravin Raman Parajuli. CEO Parajuli reviewed the past achievements of the company and informed about the strategy to be implemented by the company in the current fiscal year. On the same occasion, he also unveiled the company's corporate video.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company also informed that two agents, who made special contribution to the company, were honored with Rs 100,000 each during the same programme.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15611', 'image' => '20220826113509_1661381305.4 NLIC.jpg', 'article_date' => '2022-08-26 11:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15869', 'article_category_id' => '266', 'title' => 'NMB Bank Announces Women-led and Women Only Branches in all Provinces', 'sub_title' => '', 'summary' => 'August 26: NMB Bank has announced woman led and women only branches in all provinces of Nepal wthe vision of empowering women. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">August 26: NMB Bank has announced woman led and women only branches in all provinces of Nepal wthe vision of empowering women. The announcement was made in a recent interactive programme where women from different areas who are actively working towards women empowerment shared their experiences.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a statement, the bank said sustainability has always been one of the key focus areas for NMB Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">“Gender equality and women empowerment is one of the goals in achieving a sustainable future. With 51.04% of women accounting for the total population of the nation, the bank believes empowering women to succeed as entrepreneurs and leaders would craft the makings of a truly sustainable Nepal,” the statement added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The women-led branches of NMB Bank have been set up in Tankisinuwari of Province and Mahottaro of Madhes Province. Likewise, such branches have also been established in Balkhu of Bagmati Province, Chauthe of Gandaki Province, Bhalwari of Lumbini Province and Dhangadhi of Sudur Paschim Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">NMB Bank, which has been awarded the prestigious Bank of the Year Asia 2021 by The Banker Magazine of London-based Financial Times, is currently providing its services through 201 branches, 138 ATMs and 11 extension counters.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15610', 'image' => '20220826113135_Picture.jpg', 'article_date' => '2022-08-26 11:30:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15868', 'article_category_id' => '1', 'title' => 'Petroleum Mine in Morang Turns into a Grazing Field', 'sub_title' => '', 'summary' => 'August 26: A petroleum mine found in Morang has been left abandoned by the concerned authorities.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 26: A petroleum mine found in Morang has been left abandoned by the concerned authorities. Although there is a petroleum mine in the country, the government has done anything significant for the proper utilization of the mine, reports the national news agency RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal, which is highly dependent on foreign countries for petroleum products, has ten such mines of its own. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has already started exploring a petroleum mine in Dailekh since 2019 with financial and technical support from the Government of China. But the petroleum mine in Bahuni of Belbari Municipality-8 of Morang has turned into a grazing field for cattle, RSS further reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A building constructed for the exploration is in ruins. The raw materials brought for exploration have also been damaged. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A foreign private company in collaboration with the government had carried out exploration of the mine in Morang more than 34 years ago. However, the mine turned into a grazing field as the government could not give continuity to the exploration work, says a local Kul Bahadur Bhandari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The foreign company had excavated the ground up to three and a half kilometers in six months. However, there has been no progress since then even after thirty four years, says another local Yam Prasad Timilsina.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Mines and Geology had acquired land from the locals for exploring the mine. But the land has turned into a deserted field due to the negligence of the government. </span></span></p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15609', 'image' => '20220826112242_Untitled.jpg', 'article_date' => '2022-08-26 11:21:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15867', 'article_category_id' => '1', 'title' => 'Microfinance Company Found Providing One Percent Interest on Deposits', 'sub_title' => '', 'summary' => 'August 26: Have you ever wondered how much interest would you get by depositing cash in banks and financial institutions at present? ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yadav Humagain</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 26: Have you ever wondered how much interest would you get by depositing cash in banks and financial institutions at present? Commercial banks are providing interest on deposits in double digit (as high as 11.3 percent). Development banks, finance companies and cooperatives give even higher interest than commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At a time when banks and financial institutions are competing with each other to increase interest rate to attract deposits, microfinance companies are found to have collected deposits by giving just one percent interest. The same microfinance companies are disbursing loans to the customers at 15 percent interest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the data of mid-April 2022 released by Nepal Rastra Bank, the average interest on optional savings provided by micro finance companies stood at 6.36 percent. Among the microfinance companies, NIC Asia Microfinance Company was found giving interest of 1 percent on deposits to its customers which is the lowest among all microfinance companies. Although some microfinance companies give interest between 10 to 15 percent, majority of them provide interest in single digit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, microfinance companies are found providing interest on compulsory savings at lower rate than the market rate. As per the data of the central bank, the average interest on compulsory savings of microfinance companies stood at 5.28 percent in mid-April 2022. Some microfinance companies had provided interest of 2 percent at that time. Only a handful of microfinance companies had provided interest in double digits for compulsory savings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The average interest on deposits of commercial banks is 7.41 percent as of mid-July this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Microfinance Bankers Association Prakash Raj Sharma insists that the interest provided by microfinance companies should be competitive. He says it is not right to give interest as low as 1 to 2 percent in the present context. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The interest rate of microfinance companies should be somewhere around that of commercial banks,” said Sharma, adding, “It is not fair to provide interest lower than the rate prevalent in the market.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-April this year, the total number of customers of microfinance companies has reached 57,72,000. Among them, the microfinance companies have provided loans of Rs 449 billion to around 32,47,000 customers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The microfinance companies have collected deposits worth Rs 112.91 including Rs 35.56 under the heading of compulsory savings and Rs 77.34 under optional savings till date. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Microfinance companies have been receiving the deprived sector lending of BFIs and then disbursing the amount among the people of the deprived sector who do not have access to banking system. Although the microfinance companies cannot collect deposits from the general public, they collect deposits from the debtors under the headings of compulsory and optional savings. There is also a mandatory provision of depositing money in microfinance companies in order to receive loans. Therefore, the borrowers are compelled to get low interest on deposits. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Microfinance Bankers Association has been demanding base rate and spread rate similar to that of commercial banks. President Sharma believes that this will help in proper management of interest rate.</span></span></p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15608', 'image' => '20220826104901_low-interest-rates.jpg', 'article_date' => '2022-08-26 10:48:20', '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""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: The Nepal Railway Company has been spending over Rs 50 million annually for washing a rail being operated on the Jayanagar-Kurtha route. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The<span style="font-family:"Arial Unicode MS","sans-serif""> company shared that it has to undergo washing service in India as it lacks its own washing centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are compelled to get the rail washed in India because we do not have our own washing centre and fuel centre," said Niranjan Kumar Jha said, general manager of the company, adding, "We annually spend over Rs 50 million for the service." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jha further said that the company has to pay 28 percent tax while filling up fuel in India. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“With this we are compelled to spend huge chunk of money every year". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jha claimed that the company can earn an annual surplus of Rs 70 million if it is possible to establish Nepal’s own washing centre and fuel centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => 'rail, wash, cost, India, Nepal, Janakpur, Jaynagar, Kurtha', 'description' => '', 'sortorder' => '15622', 'image' => '20220829112120_Railwayy (1).jpeg', 'article_date' => '2022-08-29 11:20:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15880', 'article_category_id' => '1', 'title' => 'KMC Used Executive Authority to Demolish Illegally-Built Structures: Mayor Shah ', 'sub_title' => '', 'summary' => 'August 28: Mayor of the Kathmandu Metropolitan City (KMC) Balendra Shah has said the metropolis used the executive authority while demolishing illegally-built structures in the city. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Mayor of the Kathmandu Metropolitan City (KMC) Balendra Shah has said the metropolis used the executive authority while demolishing illegally-built structures in the city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was responding to public criticism that the metropolis used force to pull down unauthorized structures.</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"">"Individuals or institutions cannot build structures in their own land or the land they have been using, without authorized permission from the metropolis," reads a statement issued by Shah. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement further mentions that in course of taking construction completion certificate the concerned individuals or institutions had signed an agreement in writing that they will not build additional structures or they will pull them down upon the direction of the metropolis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has paid special focus on such things while discharging its regulatory responsibilities, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It was the first responsibility of the KMC to effectively prevent and control illegally built structures violating the agreement signed by the concerned parties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The situation in which KMC police force had to use power to pull down illegally-built structures was created after non-compliance with the 35-day notice to demolish illegally built structures, reads the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The constitution and laws have endowed the metropolis with legislative right to make laws, executive right to implement them and judicial right to mediate disputes, said the KMC. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15621', 'image' => '20220828062820_1661671729.jpg', 'article_date' => '2022-08-28 18:27:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15879', 'article_category_id' => '266', 'title' => 'Godrej’s Announces Cash Surprise Scheme', 'sub_title' => '', 'summary' => 'August 28: India's famous home appliance brand Godrej has launched a 'cash surprise' scheme targeting the upcoming festivals of Dashain and Tihar. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 28: India's famous home appliance brand Godrej has launched a 'cash surprise' scheme targeting the upcoming festivals of Dashain and Tihar. Under the scheme, customers can get attractive cashback and gifts on the purchase of Godrej home appliances. As per the company, this plan is already being implemented since last Thursday. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the scheme, customers can get up to 26 percent discount and attractive gifts on the purchase of every Godrej product. The customers will be given a discount and 6 kg of Surf Excel Matic washing powder on the purchase of front load washing machine. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also, customers will get an attractive discount and 3 kg of Surf Excel Matic washing powder on the purchase of top load washing machine. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company informed that an attractive discount can be obtained on the purchase of semi-automatic washing machine and 2 kg of Surf Excel Matic washing powder while discounts will also be given for the purchase of microwave oven.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15620', 'image' => '20220828061951_Nmemonic-scaled-e1661514238476.jpg', 'article_date' => '2022-08-28 18:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15878', 'article_category_id' => '1', 'title' => 'Paicho Pasal to Export its Products to USA', 'sub_title' => '', 'summary' => 'August 28: Paicho Pasal Pvt Ltd, which processes and distributes the agricultural products of rural areas, is preparing to supply its products in different states of the USA.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">August 28: Paicho Pasal Pvt Ltd, which processes and distributes the agricultural products of rural areas, is preparing to supply its products in different states of the USA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company plans to export its products to the United States with the aim of reaching the Nepali diaspora scattered around the world. New York-based Fancy House Inc has signed an agreement with Paicho Pasal to deliver the products under the brand of Paicho to the USA in collaboration with Nepal's Agni Exim Pvt Ltd.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Paicho's marketing manager Laxman Gaire said that it is a matter of pride for Nepalis to export products made in Nepal to the world market. “On top of that, due to our belief in Nepali products, we have been supplying Paicho products to Japan, Australia and many countries in Europe since the past,” said Gaire.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He said that the products are being delivered to the Nepali community living in the US due to the increasing demand for Nepali products.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company said that it is proud to process and export the agricultural products produced by the farmers of the hill and highland areas, keeping in mind the psychology and demand of the common consumers who are hungry for Nepali taste despite living abroad for a long time.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15619', 'image' => '20220828043531_1661504446.jpg', 'article_date' => '2022-08-28 16:34:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15877', 'article_category_id' => '1', 'title' => 'House Panel Tells Industrialists to Protest if Finance Minister doesn't Address their Problems', 'sub_title' => '', 'summary' => 'August 28: Bimal Prasad Srivastav, chairman of the Industry and Commerce and Labor and Consumer Welfare Committee of the House of Representatives, recently visited the Galvanized Iron (GI) wire and sanitary pad industries which were closed due to the unfair tax policy adopted by the government. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 28: Bimal Prasad Srivastav, chairman of the Industry and Commerce and Labor and Consumer Welfare Committee of the House of Representatives, recently visited the Galvanized Iron (GI) wire and sanitary pad industries which were closed due to the unfair tax policy adopted by the government. During a discussion programme held after the visit, Srivastav said that he would again instruct the finance minister to correct the discriminatory tax rate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also suggested the industrialists to take to the streets if the finance minister ignores the committee directive.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Shrivastav claimed that Finance Minister Janardan Sharma was reappointed by Prime Minister Sher Bahadur Deuba upon the recommendation of the CPN Maoist Centre for personal gains.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Was there no other honest person in the same party who deserved to be the finance minister of the country?'' said Srivastav. He made such remarks because he was dissatisfied with the finance minister, who changed the tax rate that benefitted some industries while it resulted in the closure of other industries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> Prakash Rasaili, a member of the committee, said that when he went to an industry where he saw flowers earlier, he found rust and spider webs now. He said that thousands of labourers lost their jobs due to the closure of GI wire and sanitary pad industries due to the unfair policies introduced by Finance Minister Sharma through the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rasaili said that the finance minister did not stop even when the parliamentary committee instructed the government to reduce the tax rate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"The policy came in favour of some industrialists and has played a game on the national economy."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rasaili said that the finance minister ruined 22 iron industries by giving tax exemption on the import of sponge iron last year, and this year the sanitary pad and GI wire industry have been closed after the tax rate was changed. "This shows that the Minister of Finance is on the way to getting very good financial benefits," Rasaili said, adding, "No system can survive in a country where the economy is not strong." </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> He claimed that the country will lose Rs 5 billion in annual revenue, including Rs 1 billion from sanitary pads and Rs 4 billion from GI wire, due to the policy adopted by Finance Minister Sharma. However, the loss cannot be compensated by the import of GI wire and sanitary pads, Rasaili said. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Dozens of industries are closed, investment is at risk. More than two thousand labourers have become unemployed. However, the finance minister takes it for granted,” said Rasaili.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a delegation of eight MPs of the House of Representatives visited the Sunsari Morang Industrial Corridor, Navin Rizal, president of the Morang Merchants Association, said during an interaction that since the assurance given by finance minister to correct the tax rates has not been implemented, there is no option than to take to the streets. He also said that due to Nepal's diplomatic weakness, India's Mirgunj Bridge could not be put into operation despite its construction. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15618', 'image' => '20220828033826_1661467686.Clipboard09.jpg', 'article_date' => '2022-08-28 15:37:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15876', 'article_category_id' => '1', 'title' => 'Big Merger: Five Cooperatives of Kathmandu Decide to Merge', 'sub_title' => '', 'summary' => 'August 28: With the rise in unhealthy competition among cooperatives due to numerical growth, the cooperatives have started opting for spontaneous integration (merger).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 28: With the rise in unhealthy competition among cooperatives due to numerical growth, the cooperatives have started opting for spontaneous integration (merger). Although the Department of Cooperatives had introduced the merger procedure in 2070, the cooperatives were skeptical about merger until now. However, the cooperatives have realized the need of merger in recent times. The wave of merger of cooperatives has started after it became difficult for them to survive in the competitive market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Recently, five cooperatives of Kathmandu have entered into an agreement to merge with each other. Idol Yamuna Multipurpose Cooperative, National Namobuddha Savings and Loan Cooperative, Citizen Welfare Multipurpose Cooperative, Satkar Savings and Loan Cooperative and Ghedung Multipurpose Cooperative Limited have entered into an agreement to merge on Saturday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">After the merger, the annual transaction of the organization will exceed Rs 9 billion and the savings will exceed Rs 5.637 billion. The loan investment of the organization will reach Rs 4. 99 billion. It was informed that the valuation of the total assets of the organization will reach Rs 7.58 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the name of the cooperative after the merger will be 'National Idol Yamuna Savings and Loans Cooperative Limited'. The cooperatives have agreed that Gyan Bahadur Tamang will be the president of the organization and Kuyang Lama will be the executive head.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">After the merger, the share capital of the organization will be Rs 308.1 million, the number of members will be 35, 020 and the number of debtors will be 6,858.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The officials of the cooperatives believe that the merger will improve the institutional governance, reduce operational and other costs and enhance accountability and increase trust among the members.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15617', 'image' => '20220828024150_1661639098.Clipboard19.jpg', 'article_date' => '2022-08-28 14:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15875', 'article_category_id' => '1', 'title' => 'Round the Year Tourism Activities to Attract Foreign Tourists: Minister Shrestha ', 'sub_title' => '', 'summary' => 'August 28: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed the need for carrying out tourism activities 12 months a year to attract as many foreign tourists to the country as possible. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed the need for carrying out tourism activities 12 months a year to attract as many foreign tourists to the country as possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the country's economy would be boosted through tourism, the minister said, "Nepal has diverse climate and weather favourable to carry out tourism activities 12 months a year. To attract foreign tourists, there is a need to market the country's religious, cultural and heritage sites in the international level." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Shrestha made such remarks while addressing a meeting of the thematic committee on tourism at the federal, provincial and local levels organised on Saturday by the ministry itself. </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"">“All important tourist destinations in all seven provinces should be branded and sports tourism, medical tourism and education and culture tourism need to be prioritised and promoted,” he said. For tourism development, there should be coordination among the government at all three levels, added Minister Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Tourism is a vital base for the country's development. The country can attain prosperity by prioritising tourism sector as it helps create job opportunities and bring in foreign currency." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Tourism Secretary Suresh Adhikari said the ministry had moved ahead with plans and programmes for policy reforms in line with the spirit and framework of federalism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All three tiers of governments should come together to revive tourism sector marred by COVID-19, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Mayor of Pokhara Metropolitan City Dhan Raj Acharya demanded declaration of Pokhara as the tourist capital of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the joint secretary at the tourism ministry Tara Nath Adhikari and executive chief of the Nepal Tourism Board, Dr Dhananjaya Regmi gave a presentation on tourism activities. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15616', 'image' => '20220828021403_Tourist.jpg', 'article_date' => '2022-08-28 14:13:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15874', 'article_category_id' => '1', 'title' => '‘Ban on Import of Ten Items will be Lifted Soon’', 'sub_title' => '', 'summary' => 'August 28: Minister for Industry, Commerce and Supplies, Dilendra Prasad Badu informed that the ban imposed on the import of certain luxury items will be lifted as soon as possible.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 28: Minister for Industry, Commerce and Supplies, Dilendra Prasad Badu informed that the ban imposed on the import of certain luxury items will be lifted as soon as possible. The government has banned imports of ten items to prevent further decline in foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While addressing the opening session of the 42nd Annual General Meeting of the Nepal Foreign Trade Association (NFTA) on Friday, Minister Badu reiterated that the government banned the import of some luxury goods in order to preserve the foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“As soon as there are signs of improvement in the economy, usual trade will continue. The government is always ready to address the demands of businessmen related to the import and export sector,” said Minister Badu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Badu gave such an assurance in response to the demands made by other speakers during the programme to lift the ban on imports. Due to the decline in the foreign exchange reserves, the government had banned the import of 10 items including vehicles for private purposes and foreign liquor from April 26. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Badu also said that the government is ready to resolve the problems of the export-import sector as per the suggestions of industrialists and added that he is expecting constructive suggestions in favor of a strong economy. He expressed his commitment to form a policy based on the opinions and suggestions received from the organizations related to the industrial and business sectors. In the same programme, former Minister of State for Industry, Commerce and Supplies, Motilal Dugad questioned the rationale behind banning imports, saying that all the goods that were banned from import were entering unhindered from illegal routes. He also requested the government to address the demands of industrialists who are known as the backbone of the economic sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Shekhar Golchha, president of the Federation of Nepalese Chamber of Commerce and Industry, said that although adverse conditions have been created due to the Covid-19 pandemic, there has been an increase in national and international investment in the country's industry and trade sector. Kamlesh Agrawal, senior vice president of Nepal Chamber of Commerce said that using monetary instruments to stop imports is not a solution to the problem. He also informed that import substitution will take time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Agrawal also expressed his displeasure with the limit set by the Nepal Rastra Bank on current capital. He argued that the policy of controlling economic activities will not allow the government to meet its revenue targets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">President of the NFTA, Sunil Kumar Bansal, expressed concern over the sluggish development and capital expenditure in the country, protracted liquidity crisis, increase in interest rates of banks and migration of labor force to foreign countries, and stressed the need for cooperation between the government and the private sector for a prosperous and strong economy. He also requested the government to reduce the customs duty, lift the ban on imports and maintain multiple rates on value addition. Binod Kumar Sethia, senior vice-president of the association, requested the government to trust the private sector and proceed in the direction of improving the country's economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15615', 'image' => '20220828122151_20220428025847_nepal-major-imports-update.jpg', 'article_date' => '2022-08-28 12:21:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15873', 'article_category_id' => '1', 'title' => 'Govt Urged to Curb Black Marketing ', 'sub_title' => '', 'summary' => 'August 28: Amid skyrocketing prices of daily essentials and fear for black marketeering, the Federation of Nepali Consumer Protection has asked the government to immediately control black marketeering, unusual price hike and supplies of sub-standard goods in the market. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Amid skyrocketing prices of daily essentials and fear for black marketeering, the Federation of Nepali Consumer Protection has asked the government to immediately control black marketing, unusual price hike and supplies of sub-standard goods in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federation made such demands during a recent press conference, arguing that price hike and supplies of sub-standard goods have economic and health impacts on the general public. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairman of the federation Chandra Saud said Nepali consumers have been conned in the hands of black marketers, and asked the government to take steps against such ill-practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior Vice-Chairman of the federation Indra Raj Bhattarai argued that the consumers themselves should be cautious to the unusual price hike and the government should book anyone for their involvement against consumers' rights. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eleven associations working for the consumers' welfare and rights from all seven provinces are affiliated with the federation. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15614', 'image' => '20220828113339_market monitoring.jpg', 'article_date' => '2022-08-28 11:32:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15872', 'article_category_id' => '1', 'title' => 'Revenue Target Increases while Trade Volume Declines', 'sub_title' => '', 'summary' => 'August 26: Customs offices under the Ministry of Finance have increased the target of revenue collection in the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">August 26: Customs offices under the Ministry of Finance have increased the target of revenue collection in the current fiscal year. Although the revenue target for the current fiscal year has increased, the volume of foreign trade has been declining.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">As the volume of foreign trade has decreased, the officials of the Department of Customs are not confident that the revenue target will be met. Due to the tightening of imports to reduce the pressure on foreign exchange reserves, import business has declined obviousbly.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Concerned officials are expecting a decline in revenue collection from customs duty due to the decline in foreign trade. In such a situation, the target of the customs offices cannot be fulfilled, the officials argue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Signs of this have already been seen in the first month of the current year at Birgunj Customs, which is the largest port in terms of import and export of the country. This customs could not collect revenue as per the target in the first month of this year, mid-July to mid-August. According to the data, the customs office collected about 15 percent less revenue than the target.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Chief Customs Officer Harihar Paudel informed that they had set a target of collecting Rs 15.20 billion in the first month of the current fiscal year but only Rs 12.98 billion were raised. The revenue target was not met due to the decrease in business.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">If this is the case, the target will not be fulfilled in any month of the year, Paudel told New Business Age. This year, both imports and exports from Birgunj Customs have decreased compared to last month. On the basis of prices, the total trade volume has decreased by 12 percent. Out of this, import has decreased by 5 percent and export by 54 percent, according to customs data.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Vehicles, fuel and industrial raw materials are mainly imported through Birgunj checkpoint. Due to the ban on vehicle import and banks stopping loans, even the vehicles imported under old LC have piled up at the customs.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">As refined oil is the main export, its export is affected due to the import policy adopted by India. Along with the decrease in oil exports, the import of its raw materials has also decreased. Substantial quantities of semi-processed oil of soybean, palm and sunflower used to come through this channel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Birgunj Customs has set a target of collecting Rs 260 billion revenue for the current year. Last year, the customs office had a target of collecting Rs 203 billion and had collected Rs 1 billion more than the target. The target for the current year is 28 percent more than last year, said Paudel, head of Birgunj Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15613', 'image' => '20220826121120_1661487987.बीरगंज-भन्सार.jpg', 'article_date' => '2022-08-26 12:10:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15871', 'article_category_id' => '1', 'title' => 'Bangladesh to Purchase Electricity from Nepal within Three Months if India Agrees', 'sub_title' => '', 'summary' => 'August 26: Bangladesh has agreed to purchase 40 to 50 megawatts of electricity from Nepal within the next three months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 26: Bangladesh has agreed to purchase 40 to 50 megawatts of electricity from Nepal within the next three months. The decision was reached on Thursday during a meeting of the Secretary-level Joint Steering Committee (JSC) formed for energy cooperation between Nepal and Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since Indian land will be used to deliver Nepal's electricity to Bangladesh, it has been decided to settle this matter through a tripartite meeting between Nepal, India and Bangladesh. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During Thursday’s meeting, the Nepali delegation was led by Sushil Chandra Tiwari, secretary of the Ministry of Energy, Water Resources and Irrigation. The Bangladeshi delegation was led by Mohammad Habibur Rahman, secretary of the Ministry of Electricity, Energy and Mineral Resources.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Joint Secretary and Spokesperson of the Ministry of Energy, Madhu Bhetuwal, said that since the meeting concluded that up to 50 megawatts of high voltage direct current can be transmitted from Nepal to Bhedamara-HPDC structure in Bangladesh, it decided to hold a tripartite meeting within three months to finalize this matter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, a meeting will be held between the officials of Nepal Electricity Authority, Indian Electricity Trading Company and Bangladesh Power Development Board. There has been no breakthrough in electricity trade between Nepal and Bangladesh as India has so far refused to give permission. A senior official of the Ministry of Energy informed that the meeting also decided to persuade India to facilitate the electricity trade.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Joint company to build Sunkoshi-III</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the JSC meeting, Nepal and Bangladesh have agreed to form a joint venture company to build the 603 MW Sunkoshi-III reservoir-based hydropower project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Two weeks ago, the Ministry of Energy formally submitted a proposal with a feasibility study report for the construction of Sunkoshi-III. The spokesperson of the Ministry of Energy, Bhetuwal informed that the Bangladeshi authorities are ready to establish a joint venture company within four months after reviewing the feasibility study and environmental study report of the Sunkoshi-III project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“It has been agreed that the feasibility study report of the Sunkoshi-III project will be reviewed within 2 months of the approval of the environmental study report and then the process of establishing a joint venture company will be initiated,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During a meeting held in August last year, Nepal had proposed to the Government of Bangladesh for the construction of Sunkoshi-III. A team of Bangladeshi officials visited the site of Sunkoshi-III last Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sunkoshi-III project is located in Ramechhap, Sindhuli, Sindhupalchok and Kavre. This is the largest reservoir-based hydropower project in Nepal. About 4224 hectares of land around Sunkoshi and Tamakoshi rivers will be used for the construction of this project. It is estimated that this project will cost Rs 1.59 billion.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15612', 'image' => '20220826120138_Flag-Pins-Bangladesh-Nepal.jpg', 'article_date' => '2022-08-26 12:00:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15870', 'article_category_id' => '266', 'title' => 'Nepal Life Insurance Company Organisers Leadership Excellence Award', 'sub_title' => '', 'summary' => 'August 26: Nepal Life Insurance Company concluded its Leadership Excellence Award Program. The company organized the event on August 21, 22 and 23 in Pokhara.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 26: Nepal Life Insurance Company concluded its Leadership Excellence Award Program. The company organized the event on August 21, 22 and 23 in Pokhara.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The program was inaugurated by the company's Chief Executive Officer (CEO) Pravin Raman Parajuli. CEO Parajuli reviewed the past achievements of the company and informed about the strategy to be implemented by the company in the current fiscal year. On the same occasion, he also unveiled the company's corporate video.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company also informed that two agents, who made special contribution to the company, were honored with Rs 100,000 each during the same programme.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15611', 'image' => '20220826113509_1661381305.4 NLIC.jpg', 'article_date' => '2022-08-26 11:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15869', 'article_category_id' => '266', 'title' => 'NMB Bank Announces Women-led and Women Only Branches in all Provinces', 'sub_title' => '', 'summary' => 'August 26: NMB Bank has announced woman led and women only branches in all provinces of Nepal wthe vision of empowering women. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">August 26: NMB Bank has announced woman led and women only branches in all provinces of Nepal wthe vision of empowering women. The announcement was made in a recent interactive programme where women from different areas who are actively working towards women empowerment shared their experiences.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a statement, the bank said sustainability has always been one of the key focus areas for NMB Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">“Gender equality and women empowerment is one of the goals in achieving a sustainable future. With 51.04% of women accounting for the total population of the nation, the bank believes empowering women to succeed as entrepreneurs and leaders would craft the makings of a truly sustainable Nepal,” the statement added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The women-led branches of NMB Bank have been set up in Tankisinuwari of Province and Mahottaro of Madhes Province. Likewise, such branches have also been established in Balkhu of Bagmati Province, Chauthe of Gandaki Province, Bhalwari of Lumbini Province and Dhangadhi of Sudur Paschim Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">NMB Bank, which has been awarded the prestigious Bank of the Year Asia 2021 by The Banker Magazine of London-based Financial Times, is currently providing its services through 201 branches, 138 ATMs and 11 extension counters.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15610', 'image' => '20220826113135_Picture.jpg', 'article_date' => '2022-08-26 11:30:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15868', 'article_category_id' => '1', 'title' => 'Petroleum Mine in Morang Turns into a Grazing Field', 'sub_title' => '', 'summary' => 'August 26: A petroleum mine found in Morang has been left abandoned by the concerned authorities.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 26: A petroleum mine found in Morang has been left abandoned by the concerned authorities. Although there is a petroleum mine in the country, the government has done anything significant for the proper utilization of the mine, reports the national news agency RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal, which is highly dependent on foreign countries for petroleum products, has ten such mines of its own. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has already started exploring a petroleum mine in Dailekh since 2019 with financial and technical support from the Government of China. But the petroleum mine in Bahuni of Belbari Municipality-8 of Morang has turned into a grazing field for cattle, RSS further reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A building constructed for the exploration is in ruins. The raw materials brought for exploration have also been damaged. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A foreign private company in collaboration with the government had carried out exploration of the mine in Morang more than 34 years ago. However, the mine turned into a grazing field as the government could not give continuity to the exploration work, says a local Kul Bahadur Bhandari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The foreign company had excavated the ground up to three and a half kilometers in six months. However, there has been no progress since then even after thirty four years, says another local Yam Prasad Timilsina.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Mines and Geology had acquired land from the locals for exploring the mine. But the land has turned into a deserted field due to the negligence of the government. </span></span></p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15609', 'image' => '20220826112242_Untitled.jpg', 'article_date' => '2022-08-26 11:21:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15867', 'article_category_id' => '1', 'title' => 'Microfinance Company Found Providing One Percent Interest on Deposits', 'sub_title' => '', 'summary' => 'August 26: Have you ever wondered how much interest would you get by depositing cash in banks and financial institutions at present? ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yadav Humagain</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 26: Have you ever wondered how much interest would you get by depositing cash in banks and financial institutions at present? Commercial banks are providing interest on deposits in double digit (as high as 11.3 percent). Development banks, finance companies and cooperatives give even higher interest than commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At a time when banks and financial institutions are competing with each other to increase interest rate to attract deposits, microfinance companies are found to have collected deposits by giving just one percent interest. The same microfinance companies are disbursing loans to the customers at 15 percent interest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the data of mid-April 2022 released by Nepal Rastra Bank, the average interest on optional savings provided by micro finance companies stood at 6.36 percent. Among the microfinance companies, NIC Asia Microfinance Company was found giving interest of 1 percent on deposits to its customers which is the lowest among all microfinance companies. Although some microfinance companies give interest between 10 to 15 percent, majority of them provide interest in single digit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, microfinance companies are found providing interest on compulsory savings at lower rate than the market rate. As per the data of the central bank, the average interest on compulsory savings of microfinance companies stood at 5.28 percent in mid-April 2022. Some microfinance companies had provided interest of 2 percent at that time. Only a handful of microfinance companies had provided interest in double digits for compulsory savings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The average interest on deposits of commercial banks is 7.41 percent as of mid-July this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Microfinance Bankers Association Prakash Raj Sharma insists that the interest provided by microfinance companies should be competitive. He says it is not right to give interest as low as 1 to 2 percent in the present context. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The interest rate of microfinance companies should be somewhere around that of commercial banks,” said Sharma, adding, “It is not fair to provide interest lower than the rate prevalent in the market.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-April this year, the total number of customers of microfinance companies has reached 57,72,000. Among them, the microfinance companies have provided loans of Rs 449 billion to around 32,47,000 customers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The microfinance companies have collected deposits worth Rs 112.91 including Rs 35.56 under the heading of compulsory savings and Rs 77.34 under optional savings till date. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Microfinance companies have been receiving the deprived sector lending of BFIs and then disbursing the amount among the people of the deprived sector who do not have access to banking system. Although the microfinance companies cannot collect deposits from the general public, they collect deposits from the debtors under the headings of compulsory and optional savings. There is also a mandatory provision of depositing money in microfinance companies in order to receive loans. Therefore, the borrowers are compelled to get low interest on deposits. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Microfinance Bankers Association has been demanding base rate and spread rate similar to that of commercial banks. President Sharma believes that this will help in proper management of interest rate.</span></span></p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15608', 'image' => '20220826104901_low-interest-rates.jpg', 'article_date' => '2022-08-26 10:48:20', '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""><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: The Nepal Railway Company has been spending over Rs 50 million annually for washing a rail being operated on the Jayanagar-Kurtha route. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The<span style="font-family:"Arial Unicode MS","sans-serif""> company shared that it has to undergo washing service in India as it lacks its own washing centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are compelled to get the rail washed in India because we do not have our own washing centre and fuel centre," said Niranjan Kumar Jha said, general manager of the company, adding, "We annually spend over Rs 50 million for the service." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jha further said that the company has to pay 28 percent tax while filling up fuel in India. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“With this we are compelled to spend huge chunk of money every year". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jha claimed that the company can earn an annual surplus of Rs 70 million if it is possible to establish Nepal’s own washing centre and fuel centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-29', 'modified' => '2022-08-29', 'keywords' => 'rail, wash, cost, India, Nepal, Janakpur, Jaynagar, Kurtha', 'description' => '', 'sortorder' => '15622', 'image' => '20220829112120_Railwayy (1).jpeg', 'article_date' => '2022-08-29 11:20:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15880', 'article_category_id' => '1', 'title' => 'KMC Used Executive Authority to Demolish Illegally-Built Structures: Mayor Shah ', 'sub_title' => '', 'summary' => 'August 28: Mayor of the Kathmandu Metropolitan City (KMC) Balendra Shah has said the metropolis used the executive authority while demolishing illegally-built structures in the city. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Mayor of the Kathmandu Metropolitan City (KMC) Balendra Shah has said the metropolis used the executive authority while demolishing illegally-built structures in the city. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was responding to public criticism that the metropolis used force to pull down unauthorized structures.</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"">"Individuals or institutions cannot build structures in their own land or the land they have been using, without authorized permission from the metropolis," reads a statement issued by Shah. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement further mentions that in course of taking construction completion certificate the concerned individuals or institutions had signed an agreement in writing that they will not build additional structures or they will pull them down upon the direction of the metropolis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has paid special focus on such things while discharging its regulatory responsibilities, Shah said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It was the first responsibility of the KMC to effectively prevent and control illegally built structures violating the agreement signed by the concerned parties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The situation in which KMC police force had to use power to pull down illegally-built structures was created after non-compliance with the 35-day notice to demolish illegally built structures, reads the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The constitution and laws have endowed the metropolis with legislative right to make laws, executive right to implement them and judicial right to mediate disputes, said the KMC. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '15621', 'image' => '20220828062820_1661671729.jpg', 'article_date' => '2022-08-28 18:27:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15879', 'article_category_id' => '266', 'title' => 'Godrej’s Announces Cash Surprise Scheme', 'sub_title' => '', 'summary' => 'August 28: India's famous home appliance brand Godrej has launched a 'cash surprise' scheme targeting the upcoming festivals of Dashain and Tihar. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 28: India's famous home appliance brand Godrej has launched a 'cash surprise' scheme targeting the upcoming festivals of Dashain and Tihar. Under the scheme, customers can get attractive cashback and gifts on the purchase of Godrej home appliances. As per the company, this plan is already being implemented since last Thursday. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the scheme, customers can get up to 26 percent discount and attractive gifts on the purchase of every Godrej product. The customers will be given a discount and 6 kg of Surf Excel Matic washing powder on the purchase of front load washing machine. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also, customers will get an attractive discount and 3 kg of Surf Excel Matic washing powder on the purchase of top load washing machine. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company informed that an attractive discount can be obtained on the purchase of semi-automatic washing machine and 2 kg of Surf Excel Matic washing powder while discounts will also be given for the purchase of microwave oven.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15620', 'image' => '20220828061951_Nmemonic-scaled-e1661514238476.jpg', 'article_date' => '2022-08-28 18:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15878', 'article_category_id' => '1', 'title' => 'Paicho Pasal to Export its Products to USA', 'sub_title' => '', 'summary' => 'August 28: Paicho Pasal Pvt Ltd, which processes and distributes the agricultural products of rural areas, is preparing to supply its products in different states of the USA.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">August 28: Paicho Pasal Pvt Ltd, which processes and distributes the agricultural products of rural areas, is preparing to supply its products in different states of the USA.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company plans to export its products to the United States with the aim of reaching the Nepali diaspora scattered around the world. New York-based Fancy House Inc has signed an agreement with Paicho Pasal to deliver the products under the brand of Paicho to the USA in collaboration with Nepal's Agni Exim Pvt Ltd.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Paicho's marketing manager Laxman Gaire said that it is a matter of pride for Nepalis to export products made in Nepal to the world market. “On top of that, due to our belief in Nepali products, we have been supplying Paicho products to Japan, Australia and many countries in Europe since the past,” said Gaire.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He said that the products are being delivered to the Nepali community living in the US due to the increasing demand for Nepali products.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company said that it is proud to process and export the agricultural products produced by the farmers of the hill and highland areas, keeping in mind the psychology and demand of the common consumers who are hungry for Nepali taste despite living abroad for a long time.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15619', 'image' => '20220828043531_1661504446.jpg', 'article_date' => '2022-08-28 16:34:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15877', 'article_category_id' => '1', 'title' => 'House Panel Tells Industrialists to Protest if Finance Minister doesn't Address their Problems', 'sub_title' => '', 'summary' => 'August 28: Bimal Prasad Srivastav, chairman of the Industry and Commerce and Labor and Consumer Welfare Committee of the House of Representatives, recently visited the Galvanized Iron (GI) wire and sanitary pad industries which were closed due to the unfair tax policy adopted by the government. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 28: Bimal Prasad Srivastav, chairman of the Industry and Commerce and Labor and Consumer Welfare Committee of the House of Representatives, recently visited the Galvanized Iron (GI) wire and sanitary pad industries which were closed due to the unfair tax policy adopted by the government. During a discussion programme held after the visit, Srivastav said that he would again instruct the finance minister to correct the discriminatory tax rate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also suggested the industrialists to take to the streets if the finance minister ignores the committee directive.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Shrivastav claimed that Finance Minister Janardan Sharma was reappointed by Prime Minister Sher Bahadur Deuba upon the recommendation of the CPN Maoist Centre for personal gains.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Was there no other honest person in the same party who deserved to be the finance minister of the country?'' said Srivastav. He made such remarks because he was dissatisfied with the finance minister, who changed the tax rate that benefitted some industries while it resulted in the closure of other industries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> Prakash Rasaili, a member of the committee, said that when he went to an industry where he saw flowers earlier, he found rust and spider webs now. He said that thousands of labourers lost their jobs due to the closure of GI wire and sanitary pad industries due to the unfair policies introduced by Finance Minister Sharma through the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rasaili said that the finance minister did not stop even when the parliamentary committee instructed the government to reduce the tax rate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"The policy came in favour of some industrialists and has played a game on the national economy."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Rasaili said that the finance minister ruined 22 iron industries by giving tax exemption on the import of sponge iron last year, and this year the sanitary pad and GI wire industry have been closed after the tax rate was changed. "This shows that the Minister of Finance is on the way to getting very good financial benefits," Rasaili said, adding, "No system can survive in a country where the economy is not strong." </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> He claimed that the country will lose Rs 5 billion in annual revenue, including Rs 1 billion from sanitary pads and Rs 4 billion from GI wire, due to the policy adopted by Finance Minister Sharma. However, the loss cannot be compensated by the import of GI wire and sanitary pads, Rasaili said. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Dozens of industries are closed, investment is at risk. More than two thousand labourers have become unemployed. However, the finance minister takes it for granted,” said Rasaili.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After a delegation of eight MPs of the House of Representatives visited the Sunsari Morang Industrial Corridor, Navin Rizal, president of the Morang Merchants Association, said during an interaction that since the assurance given by finance minister to correct the tax rates has not been implemented, there is no option than to take to the streets. He also said that due to Nepal's diplomatic weakness, India's Mirgunj Bridge could not be put into operation despite its construction. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15618', 'image' => '20220828033826_1661467686.Clipboard09.jpg', 'article_date' => '2022-08-28 15:37:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15876', 'article_category_id' => '1', 'title' => 'Big Merger: Five Cooperatives of Kathmandu Decide to Merge', 'sub_title' => '', 'summary' => 'August 28: With the rise in unhealthy competition among cooperatives due to numerical growth, the cooperatives have started opting for spontaneous integration (merger).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 28: With the rise in unhealthy competition among cooperatives due to numerical growth, the cooperatives have started opting for spontaneous integration (merger). Although the Department of Cooperatives had introduced the merger procedure in 2070, the cooperatives were skeptical about merger until now. However, the cooperatives have realized the need of merger in recent times. The wave of merger of cooperatives has started after it became difficult for them to survive in the competitive market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Recently, five cooperatives of Kathmandu have entered into an agreement to merge with each other. Idol Yamuna Multipurpose Cooperative, National Namobuddha Savings and Loan Cooperative, Citizen Welfare Multipurpose Cooperative, Satkar Savings and Loan Cooperative and Ghedung Multipurpose Cooperative Limited have entered into an agreement to merge on Saturday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">After the merger, the annual transaction of the organization will exceed Rs 9 billion and the savings will exceed Rs 5.637 billion. The loan investment of the organization will reach Rs 4. 99 billion. It was informed that the valuation of the total assets of the organization will reach Rs 7.58 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the agreement, the name of the cooperative after the merger will be 'National Idol Yamuna Savings and Loans Cooperative Limited'. The cooperatives have agreed that Gyan Bahadur Tamang will be the president of the organization and Kuyang Lama will be the executive head.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">After the merger, the share capital of the organization will be Rs 308.1 million, the number of members will be 35, 020 and the number of debtors will be 6,858.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The officials of the cooperatives believe that the merger will improve the institutional governance, reduce operational and other costs and enhance accountability and increase trust among the members.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15617', 'image' => '20220828024150_1661639098.Clipboard19.jpg', 'article_date' => '2022-08-28 14:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15875', 'article_category_id' => '1', 'title' => 'Round the Year Tourism Activities to Attract Foreign Tourists: Minister Shrestha ', 'sub_title' => '', 'summary' => 'August 28: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed the need for carrying out tourism activities 12 months a year to attract as many foreign tourists to the country as possible. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha has stressed the need for carrying out tourism activities 12 months a year to attract as many foreign tourists to the country as possible. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the country's economy would be boosted through tourism, the minister said, "Nepal has diverse climate and weather favourable to carry out tourism activities 12 months a year. To attract foreign tourists, there is a need to market the country's religious, cultural and heritage sites in the international level." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Shrestha made such remarks while addressing a meeting of the thematic committee on tourism at the federal, provincial and local levels organised on Saturday by the ministry itself. </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"">“All important tourist destinations in all seven provinces should be branded and sports tourism, medical tourism and education and culture tourism need to be prioritised and promoted,” he said. For tourism development, there should be coordination among the government at all three levels, added Minister Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Tourism is a vital base for the country's development. The country can attain prosperity by prioritising tourism sector as it helps create job opportunities and bring in foreign currency." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the Tourism Secretary Suresh Adhikari said the ministry had moved ahead with plans and programmes for policy reforms in line with the spirit and framework of federalism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">All three tiers of governments should come together to revive tourism sector marred by COVID-19, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Mayor of Pokhara Metropolitan City Dhan Raj Acharya demanded declaration of Pokhara as the tourist capital of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the joint secretary at the tourism ministry Tara Nath Adhikari and executive chief of the Nepal Tourism Board, Dr Dhananjaya Regmi gave a presentation on tourism activities. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15616', 'image' => '20220828021403_Tourist.jpg', 'article_date' => '2022-08-28 14:13:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15874', 'article_category_id' => '1', 'title' => '‘Ban on Import of Ten Items will be Lifted Soon’', 'sub_title' => '', 'summary' => 'August 28: Minister for Industry, Commerce and Supplies, Dilendra Prasad Badu informed that the ban imposed on the import of certain luxury items will be lifted as soon as possible.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 28: Minister for Industry, Commerce and Supplies, Dilendra Prasad Badu informed that the ban imposed on the import of certain luxury items will be lifted as soon as possible. The government has banned imports of ten items to prevent further decline in foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While addressing the opening session of the 42nd Annual General Meeting of the Nepal Foreign Trade Association (NFTA) on Friday, Minister Badu reiterated that the government banned the import of some luxury goods in order to preserve the foreign currency reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“As soon as there are signs of improvement in the economy, usual trade will continue. The government is always ready to address the demands of businessmen related to the import and export sector,” said Minister Badu.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Badu gave such an assurance in response to the demands made by other speakers during the programme to lift the ban on imports. Due to the decline in the foreign exchange reserves, the government had banned the import of 10 items including vehicles for private purposes and foreign liquor from April 26. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Minister Badu also said that the government is ready to resolve the problems of the export-import sector as per the suggestions of industrialists and added that he is expecting constructive suggestions in favor of a strong economy. He expressed his commitment to form a policy based on the opinions and suggestions received from the organizations related to the industrial and business sectors. In the same programme, former Minister of State for Industry, Commerce and Supplies, Motilal Dugad questioned the rationale behind banning imports, saying that all the goods that were banned from import were entering unhindered from illegal routes. He also requested the government to address the demands of industrialists who are known as the backbone of the economic sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Shekhar Golchha, president of the Federation of Nepalese Chamber of Commerce and Industry, said that although adverse conditions have been created due to the Covid-19 pandemic, there has been an increase in national and international investment in the country's industry and trade sector. Kamlesh Agrawal, senior vice president of Nepal Chamber of Commerce said that using monetary instruments to stop imports is not a solution to the problem. He also informed that import substitution will take time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Agrawal also expressed his displeasure with the limit set by the Nepal Rastra Bank on current capital. He argued that the policy of controlling economic activities will not allow the government to meet its revenue targets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">President of the NFTA, Sunil Kumar Bansal, expressed concern over the sluggish development and capital expenditure in the country, protracted liquidity crisis, increase in interest rates of banks and migration of labor force to foreign countries, and stressed the need for cooperation between the government and the private sector for a prosperous and strong economy. He also requested the government to reduce the customs duty, lift the ban on imports and maintain multiple rates on value addition. Binod Kumar Sethia, senior vice-president of the association, requested the government to trust the private sector and proceed in the direction of improving the country's economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15615', 'image' => '20220828122151_20220428025847_nepal-major-imports-update.jpg', 'article_date' => '2022-08-28 12:21:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15873', 'article_category_id' => '1', 'title' => 'Govt Urged to Curb Black Marketing ', 'sub_title' => '', 'summary' => 'August 28: Amid skyrocketing prices of daily essentials and fear for black marketeering, the Federation of Nepali Consumer Protection has asked the government to immediately control black marketeering, unusual price hike and supplies of sub-standard goods in the market. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 28: Amid skyrocketing prices of daily essentials and fear for black marketeering, the Federation of Nepali Consumer Protection has asked the government to immediately control black marketing, unusual price hike and supplies of sub-standard goods in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federation made such demands during a recent press conference, arguing that price hike and supplies of sub-standard goods have economic and health impacts on the general public. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairman of the federation Chandra Saud said Nepali consumers have been conned in the hands of black marketers, and asked the government to take steps against such ill-practices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior Vice-Chairman of the federation Indra Raj Bhattarai argued that the consumers themselves should be cautious to the unusual price hike and the government should book anyone for their involvement against consumers' rights. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Eleven associations working for the consumers' welfare and rights from all seven provinces are affiliated with the federation. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-28', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15614', 'image' => '20220828113339_market monitoring.jpg', 'article_date' => '2022-08-28 11:32:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15872', 'article_category_id' => '1', 'title' => 'Revenue Target Increases while Trade Volume Declines', 'sub_title' => '', 'summary' => 'August 26: Customs offices under the Ministry of Finance have increased the target of revenue collection in the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">August 26: Customs offices under the Ministry of Finance have increased the target of revenue collection in the current fiscal year. Although the revenue target for the current fiscal year has increased, the volume of foreign trade has been declining.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">As the volume of foreign trade has decreased, the officials of the Department of Customs are not confident that the revenue target will be met. Due to the tightening of imports to reduce the pressure on foreign exchange reserves, import business has declined obviousbly.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Concerned officials are expecting a decline in revenue collection from customs duty due to the decline in foreign trade. In such a situation, the target of the customs offices cannot be fulfilled, the officials argue.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Signs of this have already been seen in the first month of the current year at Birgunj Customs, which is the largest port in terms of import and export of the country. This customs could not collect revenue as per the target in the first month of this year, mid-July to mid-August. According to the data, the customs office collected about 15 percent less revenue than the target.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Chief Customs Officer Harihar Paudel informed that they had set a target of collecting Rs 15.20 billion in the first month of the current fiscal year but only Rs 12.98 billion were raised. The revenue target was not met due to the decrease in business.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">If this is the case, the target will not be fulfilled in any month of the year, Paudel told New Business Age. This year, both imports and exports from Birgunj Customs have decreased compared to last month. On the basis of prices, the total trade volume has decreased by 12 percent. Out of this, import has decreased by 5 percent and export by 54 percent, according to customs data.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Vehicles, fuel and industrial raw materials are mainly imported through Birgunj checkpoint. Due to the ban on vehicle import and banks stopping loans, even the vehicles imported under old LC have piled up at the customs.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">As refined oil is the main export, its export is affected due to the import policy adopted by India. Along with the decrease in oil exports, the import of its raw materials has also decreased. Substantial quantities of semi-processed oil of soybean, palm and sunflower used to come through this channel.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Arial,"sans-serif"">Birgunj Customs has set a target of collecting Rs 260 billion revenue for the current year. Last year, the customs office had a target of collecting Rs 203 billion and had collected Rs 1 billion more than the target. The target for the current year is 28 percent more than last year, said Paudel, head of Birgunj Customs.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '15613', 'image' => '20220826121120_1661487987.बीरगंज-भन्सार.jpg', 'article_date' => '2022-08-26 12:10:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15871', 'article_category_id' => '1', 'title' => 'Bangladesh to Purchase Electricity from Nepal within Three Months if India Agrees', 'sub_title' => '', 'summary' => 'August 26: Bangladesh has agreed to purchase 40 to 50 megawatts of electricity from Nepal within the next three months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 26: Bangladesh has agreed to purchase 40 to 50 megawatts of electricity from Nepal within the next three months. The decision was reached on Thursday during a meeting of the Secretary-level Joint Steering Committee (JSC) formed for energy cooperation between Nepal and Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since Indian land will be used to deliver Nepal's electricity to Bangladesh, it has been decided to settle this matter through a tripartite meeting between Nepal, India and Bangladesh. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During Thursday’s meeting, the Nepali delegation was led by Sushil Chandra Tiwari, secretary of the Ministry of Energy, Water Resources and Irrigation. The Bangladeshi delegation was led by Mohammad Habibur Rahman, secretary of the Ministry of Electricity, Energy and Mineral Resources.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Joint Secretary and Spokesperson of the Ministry of Energy, Madhu Bhetuwal, said that since the meeting concluded that up to 50 megawatts of high voltage direct current can be transmitted from Nepal to Bhedamara-HPDC structure in Bangladesh, it decided to hold a tripartite meeting within three months to finalize this matter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, a meeting will be held between the officials of Nepal Electricity Authority, Indian Electricity Trading Company and Bangladesh Power Development Board. There has been no breakthrough in electricity trade between Nepal and Bangladesh as India has so far refused to give permission. A senior official of the Ministry of Energy informed that the meeting also decided to persuade India to facilitate the electricity trade.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Joint company to build Sunkoshi-III</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the JSC meeting, Nepal and Bangladesh have agreed to form a joint venture company to build the 603 MW Sunkoshi-III reservoir-based hydropower project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Two weeks ago, the Ministry of Energy formally submitted a proposal with a feasibility study report for the construction of Sunkoshi-III. The spokesperson of the Ministry of Energy, Bhetuwal informed that the Bangladeshi authorities are ready to establish a joint venture company within four months after reviewing the feasibility study and environmental study report of the Sunkoshi-III project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“It has been agreed that the feasibility study report of the Sunkoshi-III project will be reviewed within 2 months of the approval of the environmental study report and then the process of establishing a joint venture company will be initiated,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">During a meeting held in August last year, Nepal had proposed to the Government of Bangladesh for the construction of Sunkoshi-III. A team of Bangladeshi officials visited the site of Sunkoshi-III last Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sunkoshi-III project is located in Ramechhap, Sindhuli, Sindhupalchok and Kavre. This is the largest reservoir-based hydropower project in Nepal. About 4224 hectares of land around Sunkoshi and Tamakoshi rivers will be used for the construction of this project. It is estimated that this project will cost Rs 1.59 billion.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15612', 'image' => '20220826120138_Flag-Pins-Bangladesh-Nepal.jpg', 'article_date' => '2022-08-26 12:00:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15870', 'article_category_id' => '266', 'title' => 'Nepal Life Insurance Company Organisers Leadership Excellence Award', 'sub_title' => '', 'summary' => 'August 26: Nepal Life Insurance Company concluded its Leadership Excellence Award Program. The company organized the event on August 21, 22 and 23 in Pokhara.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 26: Nepal Life Insurance Company concluded its Leadership Excellence Award Program. The company organized the event on August 21, 22 and 23 in Pokhara.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The program was inaugurated by the company's Chief Executive Officer (CEO) Pravin Raman Parajuli. CEO Parajuli reviewed the past achievements of the company and informed about the strategy to be implemented by the company in the current fiscal year. On the same occasion, he also unveiled the company's corporate video.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company also informed that two agents, who made special contribution to the company, were honored with Rs 100,000 each during the same programme.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15611', 'image' => '20220826113509_1661381305.4 NLIC.jpg', 'article_date' => '2022-08-26 11:34:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15869', 'article_category_id' => '266', 'title' => 'NMB Bank Announces Women-led and Women Only Branches in all Provinces', 'sub_title' => '', 'summary' => 'August 26: NMB Bank has announced woman led and women only branches in all provinces of Nepal wthe vision of empowering women. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">August 26: NMB Bank has announced woman led and women only branches in all provinces of Nepal wthe vision of empowering women. The announcement was made in a recent interactive programme where women from different areas who are actively working towards women empowerment shared their experiences.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a statement, the bank said sustainability has always been one of the key focus areas for NMB Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">“Gender equality and women empowerment is one of the goals in achieving a sustainable future. With 51.04% of women accounting for the total population of the nation, the bank believes empowering women to succeed as entrepreneurs and leaders would craft the makings of a truly sustainable Nepal,” the statement added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">The women-led branches of NMB Bank have been set up in Tankisinuwari of Province and Mahottaro of Madhes Province. Likewise, such branches have also been established in Balkhu of Bagmati Province, Chauthe of Gandaki Province, Bhalwari of Lumbini Province and Dhangadhi of Sudur Paschim Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt"><span style="font-family:"Arial","sans-serif"">NMB Bank, which has been awarded the prestigious Bank of the Year Asia 2021 by The Banker Magazine of London-based Financial Times, is currently providing its services through 201 branches, 138 ATMs and 11 extension counters.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15610', 'image' => '20220826113135_Picture.jpg', 'article_date' => '2022-08-26 11:30:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15868', 'article_category_id' => '1', 'title' => 'Petroleum Mine in Morang Turns into a Grazing Field', 'sub_title' => '', 'summary' => 'August 26: A petroleum mine found in Morang has been left abandoned by the concerned authorities.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 26: A petroleum mine found in Morang has been left abandoned by the concerned authorities. Although there is a petroleum mine in the country, the government has done anything significant for the proper utilization of the mine, reports the national news agency RSS. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal, which is highly dependent on foreign countries for petroleum products, has ten such mines of its own. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has already started exploring a petroleum mine in Dailekh since 2019 with financial and technical support from the Government of China. But the petroleum mine in Bahuni of Belbari Municipality-8 of Morang has turned into a grazing field for cattle, RSS further reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A building constructed for the exploration is in ruins. The raw materials brought for exploration have also been damaged. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A foreign private company in collaboration with the government had carried out exploration of the mine in Morang more than 34 years ago. However, the mine turned into a grazing field as the government could not give continuity to the exploration work, says a local Kul Bahadur Bhandari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The foreign company had excavated the ground up to three and a half kilometers in six months. However, there has been no progress since then even after thirty four years, says another local Yam Prasad Timilsina.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Department of Mines and Geology had acquired land from the locals for exploring the mine. But the land has turned into a deserted field due to the negligence of the government. </span></span></p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15609', 'image' => '20220826112242_Untitled.jpg', 'article_date' => '2022-08-26 11:21:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15867', 'article_category_id' => '1', 'title' => 'Microfinance Company Found Providing One Percent Interest on Deposits', 'sub_title' => '', 'summary' => 'August 26: Have you ever wondered how much interest would you get by depositing cash in banks and financial institutions at present? ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yadav Humagain</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 26: Have you ever wondered how much interest would you get by depositing cash in banks and financial institutions at present? Commercial banks are providing interest on deposits in double digit (as high as 11.3 percent). Development banks, finance companies and cooperatives give even higher interest than commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At a time when banks and financial institutions are competing with each other to increase interest rate to attract deposits, microfinance companies are found to have collected deposits by giving just one percent interest. The same microfinance companies are disbursing loans to the customers at 15 percent interest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the data of mid-April 2022 released by Nepal Rastra Bank, the average interest on optional savings provided by micro finance companies stood at 6.36 percent. Among the microfinance companies, NIC Asia Microfinance Company was found giving interest of 1 percent on deposits to its customers which is the lowest among all microfinance companies. Although some microfinance companies give interest between 10 to 15 percent, majority of them provide interest in single digit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, microfinance companies are found providing interest on compulsory savings at lower rate than the market rate. As per the data of the central bank, the average interest on compulsory savings of microfinance companies stood at 5.28 percent in mid-April 2022. Some microfinance companies had provided interest of 2 percent at that time. Only a handful of microfinance companies had provided interest in double digits for compulsory savings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The average interest on deposits of commercial banks is 7.41 percent as of mid-July this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President of Nepal Microfinance Bankers Association Prakash Raj Sharma insists that the interest provided by microfinance companies should be competitive. He says it is not right to give interest as low as 1 to 2 percent in the present context. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The interest rate of microfinance companies should be somewhere around that of commercial banks,” said Sharma, adding, “It is not fair to provide interest lower than the rate prevalent in the market.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-April this year, the total number of customers of microfinance companies has reached 57,72,000. Among them, the microfinance companies have provided loans of Rs 449 billion to around 32,47,000 customers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The microfinance companies have collected deposits worth Rs 112.91 including Rs 35.56 under the heading of compulsory savings and Rs 77.34 under optional savings till date. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Microfinance companies have been receiving the deprived sector lending of BFIs and then disbursing the amount among the people of the deprived sector who do not have access to banking system. Although the microfinance companies cannot collect deposits from the general public, they collect deposits from the debtors under the headings of compulsory and optional savings. There is also a mandatory provision of depositing money in microfinance companies in order to receive loans. Therefore, the borrowers are compelled to get low interest on deposits. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Microfinance Bankers Association has been demanding base rate and spread rate similar to that of commercial banks. President Sharma believes that this will help in proper management of interest rate.</span></span></p> ', 'published' => true, 'created' => '2022-08-26', 'modified' => '2022-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '15608', 'image' => '20220826104901_low-interest-rates.jpg', 'article_date' => '2022-08-26 10:48:20', '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
