July 31: The Chitwan National Park has distributed more than Rs 30 million as relief for the people affected by wildlife in the last fiscal…
July 31: The Chitwan National Park has distributed more than Rs 30 million as relief for the people affected by wildlife in the last fiscal…
July 31: Nepal Rastra Bank (NRB) and the Government of Nepal has imposed restrictions since last winter in order to minimize the impact of Nepal’s trade deficit on foreign exchange…
July 31: Stakeholders have expressed solidarity with the programmes announced by the government for the revival of the tourism sector.…
July 31: Rainfall is likely to continue in most parts of the country until Tuesday.…
July 31: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said the Nepal Oil Corporation (NOC) will not be…
July 31: The funds maintained by security forces have around Rs 75…
July 31: The parliamentary special probe committee has given ‘clean chit’ to the then finance minister Janardan Sharma in a case related to his alleged involvement in changing the tax rates under the influence of unauthorised…
July 29: Stock brokers and investors have expressed mixed reactions to the policies and programmes of announced by the Securities Board of Nepal…
July 29: An aircraft of Yeti Airlines that took off from Pokhara to Kathmandu this morning (Friday) made a safe landing back in Pokhara six minutes later following a technical…
July 29: Securities Board of Nepal (SEBON) has announced its plan to add stock brokers in the secondary market due to excessive rise in the number of transactions.…
July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term…
July 29: A parliamentary committee has concluded that most of the national pride projects have become…
July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on…
July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of…
July 28: After studying up to a certain level, a person desires for…
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The total relief distribution amounted to Rs 30.473 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the national park office, relief of Rs 20.20 million was distributed to the families of people who lost their lives due to the attack of wild animals during the review period. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, as per the information provided by the park officials, Rs 2,911,000 was distributed to the families of seriously injured people and Rs 537,000 to the families of people who suffered minor injuries. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the park, Rs 1,782,000 was distributed to the families who suffered loss of livestock, Rs 54,000 to the families whose stored grain was damaged, Rs 147,000 to the families who lost their houses and Rs 3,399,000 to the families who lost their crops. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As informed by the office, during the review year period, 22 people died in the attacks of wild animals, 24 people were seriously injured and 29 people were slightly injured. Other incidents involved 148 cases of livestock damage, 6 cases of stored grain damage, 19 cases of household damage and 476 cases of crop damage.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Prasad Tiwari, the information officer of the national park, said that the incidents of wildlife attacks and damage increased last year as compared to the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Recently, it seems that there has been an increase in incidents of damages caused by wild animals. Increase in wildlife population has also resulted in encroachment of human settlements,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari informed that there has been an increase in relief distribution along with increased cases last year. He also informed that human damages occurred in the main area of the park as well, however, there is a provision to distribute relief only in cases of damage caused by wild animals outside the main area. He said that some of the victims’ families are in the process of receiving relief and only those who have completed the process are provided with relief.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15457', 'image' => '20220731055215_National-Park.jpg', 'article_date' => '2022-07-31 17:51:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15715', 'article_category_id' => '1', 'title' => 'Has Restrictions Reduced Imports of Banned Goods?', 'sub_title' => '', 'summary' => 'July 31: Nepal Rastra Bank (NRB) and the Government of Nepal has imposed restrictions since last winter in order to minimize the impact of Nepal’s trade deficit on foreign exchange reserves.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">July 31: Nepal Rastra Bank (NRB) and the Government of Nepal has imposed restrictions since last winter in order to minimize the impact of Nepal’s trade deficit on foreign exchange reserves. After the foreign exchange reserves started declining, the central bank issued a quota system on import of silver on November 29, 2021 restricting the import of silver worth more than USD 3500 at a time.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three weeks later, the NRB introduced a provision on December 20 requiring 50 to cent percent cash margin for importing goods under 20 different harmonic codes. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The central bank also lowered the limit on imports through document against payment (DAP), document against assessment (DAA) and TT. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">One month later, the central bank added 27 more items to the list of goods that require 50 to 100 percent cash margin for imports. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">After these steps failed to discourage imports, the central bank in early April issued a verbal directive to the commercial banks not to open LC for the import of luxury items such as vehicles for private use and liquor.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On top of it, the Ministry of Industry, Commerce and Supplies issued a notice in the Nepal Gazette on April 26 banning the import of certain goods till the end of the last fiscal year (FY 2021/22). Those goods included vehicles for private use, motorcycle of more than 250 cc capacity, smartphones worth more than USD 600, television sets of 32 inches and above, playing cards, diamonds, ready-made liquor, chips such as Lays and Kurkure, toys and tobacco products. The ban on imports of those products was later extended till August 30. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It seems that the government tried to restrict the imports of the same goods towards the end of the fiscal year that were imported without any hindrance during the start of the last fiscal year. Those ten goods were completely banned in the last two and a half months of the last fiscal year. Despite the ban, the import of three of the ten items have declined while the import of the remaining seven items has increased instead, according to the date released by the Department of Customs.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, the import of chips such as Lays and Kurkure, playing cards and vehicles of more than 250 cc capacity has declined. On the other hand import of products such as liquor, tobacco products, smartphones, toys, diamond, vehicles and television sets has increased. </span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15456', 'image' => '20220731054110_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-31 17:40:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15714', 'article_category_id' => '1', 'title' => 'Government Plans to Develop Hill Stations, Open New Peaks under Tourism Revival Plan', 'sub_title' => '', 'summary' => 'July 31: Stakeholders have expressed solidarity with the programmes announced by the government for the revival of the tourism sector. ', 'content' => '<p><span style="font-size:16px">July 31: Stakeholders have expressed solidarity with the programmes announced by the government for the revival of the tourism sector. They had been demanding government intervention in revitalizing the tourism sector that has been badly affected by the coronavirus pandemic.</span></p> <p><span style="font-size:16px">The government is now preparing to announce the Tourism Decade.</span></p> <p><span style="font-size:16px">The government will be making necessary preparations till the end of 2022 in order to announce the Tourism decade from 2023 to 2033, informed Hom Prasad Luitel, joint secretary at the Ministry of Culture, Tourism and Civil Aviation.</span></p> <p><span style="font-size:16px">“This year is about to end and so we will make necessary preparations to announce the Tourism Decade,” said Luitel, adding, “We will first plan what we will be doing throughout the next decade and then make an announcement next year.”</span></p> <p><span style="font-size:16px">The government has also included development of hill station in its plan. According to Luitel, the ministry has written a letter to the Nepal Tourism Board to prepare a plan to develop hill station and submit it within a week. He said that the NTB itself will prepare a separate plan for the development of hill station.</span></p> <p><span style="font-size:16px">The government is planning to conduct a feasibility study about developing hill stations in Pathibhara, Shey Phoksundo, Khaptad and Rara in collaboration with the provinces, local governments and private sector in line with the principle of diversification of tourism sector.</span></p> <p><span style="font-size:16px">Private sector stakeholders say that they are ready to invest if the government prepares necessary infrastructures needed for developing hill stations.</span></p> <p><span style="font-size:16px">Hoteliers of Kathmandu are also ready to invest in hill stations. One of the hoteliers told New Business Age that they are ready to invest if the government sets up infrastructures such as roads, electricity and drinking water facility.</span></p> <p><span style="font-size:16px">The arrival of tourists in Nepal had declined by percent in 2020 compared to 2019. Nevertheless, the arrival of tourists has started improving since the beginning of 2022.</span></p> <p><span style="font-size:16px">The tourism ministry has prepared a 58-point plan to revive the tourism industry and is working accordingly to implement it.</span></p> <p><span style="font-size:16px">Senior Vice President of the Hotel Association of Nepal Binayak Shah says that the government’s announcement of plans to revive the tourism sector is a positive step.</span></p> <p><span style="font-size:16px">“There was a need of a clear roadmap to revive the tourism sector and we wanted government’s cooperation in this regard,” said Shah, adding that they had given suggestions to the government about it. He further said that the government’s tourism revival plan should not be focused on garnering support for the upcoming election.</span></p> <p><span style="font-size:16px">He says that the plan of announcing the Tourism Decade is an ambitious plan. He says that government announces plans but the implementation part is mostly weak.</span></p> <p><span style="font-size:16px">The ministry has also announced to open new peaks for expedition under its tourism revival plan. So far, the government has opened peaks for expedition. As per the plan, government is preparing to open additional peaks between 5,800 meters and 8,000 meters. Neema Nuru Sherpa, president of Nepal Mountaineering Association, says that this decision has opened new avenues in the tourism sector.</span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15455', 'image' => '20220731034205_Tourist Arrival (1).jpeg', 'article_date' => '2022-07-31 15:40:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15713', 'article_category_id' => '1', 'title' => 'Chances of Rainfall till Tuesday ', 'sub_title' => '', 'summary' => 'July 31: Rainfall is likely to continue in most parts of the country until Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Rainfall is likely to continue in most parts of the country until Tuesday. Due to the active monsoon system, there is a chance of light to moderate rainfall with thunder and lightning in many parts of the country till Tuesday, said meteorologist at the Department of Hydrology and Meteorology Heera Bhattarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Bhattarai, there is possibility of heavy rain in one or two places of Province 1, Bagmati Province, Gandaki Province and Lumbini Province. Monsoon in likely to become more active in the east for the next three days, added Bhattarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, there is partial to moderate rainfall in few places of Province 1 while there is light to moderate rain with thunder/lightning in Bagmati, Gandaki and Lumbini provinces.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the night, the weather will be cloudy in the mountainous areas of the country, partially cloudy in the rest of the country. Furthermore, there will be light to moderate rainfall with thunder and lightning in few places of the hill areas of the country and heavy rain in one or two places of Madhes province. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15454', 'image' => '20220731023730_weather (1).jpg', 'article_date' => '2022-07-31 14:36:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15712', 'article_category_id' => '1', 'title' => 'NOC will not be Privatized: Minister Badu', 'sub_title' => '', 'summary' => 'July 31: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said the Nepal Oil Corporation (NOC) will not be privatized. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said the Nepal Oil Corporation (NOC) will not be privatized. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized on the occasion of the 27th annual general assembly of Nepal LP Gas Association on Saturday, Minister Badu said the NOC is supplying petroleum products with the assistance of the private sector and it will not be privatized. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the tax imposed on petroleum products has been reduced realizing the government's responsibility, Minister Badu, said reforms in the NOC was needed even by reducing its unnecessary expenses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu said that the government was ready to address the issues faced by the private sector and assured that he was working to resolve the private sector's problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting Chief of the Confederation of Nepalese Industries Krishna Adhikari, Senior Vice-President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) Dinesh Shrestha and other speakers expressed their opinions on different issues economy including the role of the private sector for the economic development, government policy on reducing consumption of petroleum products among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15453', 'image' => '20220731021855_nocc.jpg', 'article_date' => '2022-07-31 14:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15711', 'article_category_id' => '1', 'title' => 'Rs 75 Billion in Welfare Funds of Security Forces', 'sub_title' => '', 'summary' => 'July 31: The funds maintained by security forces have around Rs 75 billion.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 31: The funds maintained by security forces have around Rs 75 billion. The welfare funds of the Nepalese Army, Nepal Police among other security agencies have such a huge fund which is not invested anywhere.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The security agencies are unable to mobilize the fund even during the time of financial crisis because of a provision that does not allow the security forces to invest the fund in profit-generating ventures.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The size of army’s welfare fund, which was established years ago with just Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">12. 4 million, has currently expanded to Rs 69 billion. Out of the total amount, Rs 62 billion has been deposited in various banks. The Army Act has a provision under which the national army itself cannot invest its funds in profit-generating business.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Therefore, the army which has been paying an annual tax of Rs 500 million has not invested its money in any business, informed any army source. Next year, the army’s welfare fund will get an additional fund of Rs 20 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalese Army has invested around Rs 6 billion to operate medical college, school, petrol stations and drinking water for the army in line with the Army Act.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Around Rs 900,000 generated from such non-profit business is used for the welfare of the families of serving and retired army personnel.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Around 5,400 army personnel deployed in 12 different missions of the United Nations bring around USD 150 million back to Nepal each year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The recent report of the Auditor General states that the army’s petrol station and fair-price shops operated under the welfare fund do not go through annual audit. The report also suggests that the income generated from the fund should be invested in productive sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepalese Army Spokesperson Brigadier General Narayan Silwal says that the army has been investing the money of the welfare fund in necessary areas in line with the Army Act.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The army is ready to invest in the productive sector if the government amends the law,” said Silwal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Nepal Police also has its welfare fund worth around Rs 3.61 billion. This amount is also yet to be invested in productive sector. The fund is deposited in bank and the police force reaps the benefit of interest.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Armed Police Force also had established its fund almost two decades ago. The welfare fund of APF has around Rs Rs 2 billion. This amount is also not invested anywhere.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although efforts have been made to bring these funds in the capital market, it has not been possible so far.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15452', 'image' => '20220731113758_army.jpg', 'article_date' => '2022-07-31 11:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15710', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Gives ‘Clean Chit’ to Janardan Sharma', 'sub_title' => 'The Probe Committee Finds no Entry of Unauthorized Person to Fix Tax Rate in Budget ', 'summary' => 'July 31: The parliamentary special probe committee has given ‘clean chit’ to the then finance minister Janardan Sharma in a case related to his alleged involvement in changing the tax rates under the influence of unauthorised persons.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The parliamentary special probe committee has given ‘clean chit’ to the then finance minister Janardan Sharma in a case related to his alleged involvement in changing the tax rates under the influence of unauthorised persons.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The parliamentary committee formed to investigate the allegation has finally presented its report to the House of Representatives (HoR). </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Presenting the report in the lower house meeting on Friday, the committee chairperson Laxman Lal Karna said that the committee did not find the entry of unauthorized person in the finance ministry to change the tax rate. The committee shared the finding after studying the CCTV footage and analyzing the ministry's response and documents and discussion with the finance ministry officials, the state-owned national news agency RSS reported. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The probe committee did not find the entry of authorized person to fix the tax rate. As there is a dedicated thematic committee to study the impacts of changes in tax rate, this special committee does not need to devote further time in this matter," the report concluded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee had inspected CCTV installation and its recording at the ministry and sent the CCTV footages to the digital forensic lab of the Nepal Police for its recovery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was prepared based on documents received from the ministry, talks with office bearers, the report and details recovered from the CCTV footages and other evidences received from the Nepal Police, said Karna. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee was initially provided 10 days for the investigation and later the deadline was extended by a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The then finance minister Janardan Sharma had resigned from his post following the formation of the parliamentary probe committee. Sharma was accused of bringing unauthorized person to the ministry to influence the tax rate on the eve of the budget announcement. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15451', 'image' => '20220731110219_finnnnn.jpg', 'article_date' => '2022-07-31 11:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15709', 'article_category_id' => '1', 'title' => 'Brokers and Investors Give Mixed Reaction to SEBON Programmes', 'sub_title' => '', 'summary' => 'July 29: Stock brokers and investors have expressed mixed reactions to the policies and programmes of announced by the Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: Stock brokers and investors have expressed mixed reactions to the policies and programmes of announced by the Securities Board of Nepal (SEBON). </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Tara Prasad Phullel, vice president of the Share Investors Association, said that although many old points have been repeated in the policies and programmes for the current fiscal year, he said he is confident that those objectives will be accomplished this year. He said that the old plans have been repeated because they are needed now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He expects that the policies and programmes will be implemented without any obstacle as the SEBON chairman has already done important works for the development and expansion of the capital market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> “Even though the programmes and policies are overall good, the issue of broker license is still not clear,” said Phullel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Santosh Mainali, president of the Stock Brokers Association, said that the policies and programmes are generally good, but the issue of adding brokers is unclear. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“When the president said that the capital structure will be based on the number of licenses, it is not clear whether the NEPSE’s system supports a large number of brokers or not,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He said that the issue of giving approval to existing brokers for branch expansion and provision of sub-broker services is not mentioned this year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15450', 'image' => '20220729053845_sebon.jpg', 'article_date' => '2022-07-29 17:38:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15708', 'article_category_id' => '1', 'title' => 'Yeti Airlines Aircraft makes Safe Landing after Engine Malfunction', 'sub_title' => '', 'summary' => 'July 29: An aircraft of Yeti Airlines that took off from Pokhara to Kathmandu this morning (Friday) made a safe landing back in Pokhara six minutes later following a technical problem.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 29: An aircraft of Yeti Airlines that took off from Pokhara to Kathmandu this morning (Friday) made a safe landing back in Pokhara six minutes later following a technical problem.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the aircraft returned back to Pokhara after its engine malfunctioned.</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"">Dev Raj Subedi, information officer of Pokhara Airport, told RSS that the aircraft with call sign '9-NANG' returned safely to Pokhara six minutes after take-off. According to Subedi, the aircraft carrying 45 passengers had left Pokhara at 8:45 am. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15449', 'image' => '20220729052841_31534744547_53f0fff7b5_b.jpg', 'article_date' => '2022-07-29 17:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15707', 'article_category_id' => '1', 'title' => 'SEBON Introduces New Policies and Programmes', 'sub_title' => '', 'summary' => 'July 29: Securities Board of Nepal (SEBON) has announced its plan to add stock brokers in the secondary market due to excessive rise in the number of transactions. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: Securities Board of Nepal (SEBON) has announced its plan to add stock brokers in the secondary market due to excessive rise in the number of transactions. The board made such announcement while unveiling its policies and programmes for the current fiscal year (FY 2022/23) on Thursday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">With the scope of the secondary market widening, chairman of the board Ramesh Kumar Hamal said that SEBON took a decision to this effect considering the need to increase the number of securities brokers and services and facilities.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board has made preparations to issue three types of broker licenses. Based on the services provided by the broker company, the board has plans to issue new broker licenses to companies with paid-up capital ranging from Rs 200 million to 1.5 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He argued that the board arranged capital structure as an opportunity to the stock brokers, who were demanding an increase in their scope of work. Hamal expressed that more capital is needed to increase the scope of work and seeing the profit that the current brokers is earning, there should be no problem. He says that the current broker can choose the path of merger to solve the problem related to the capital expansion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Many points of the policies and programs are just repetition of the past policies. In the past, there was a matter of giving broker license to bank subsidiaries. This year, it seems that anyone who meets the capital structure and the prescribed criteria set by the board will get a license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">There is also a plan to list commercially successful companies in the secondary market. In addition, there are plans to include public limited companies with capital of Rs 1 billion or more in the secondary market. The ASBA and C-ASBA system will be improved so that Nepalese employed abroad can apply for IPO.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board said that the policies, procedures and technology necessary to bring other companies to the securities market will be arranged. Hamal said that the secondary market transaction will be made completely based on electronic technology to facilitate linking the transaction system with the bank and Demat accounts of the investors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the board, to operate the book building system in a sustainable and transparent manner, the internationally used automated electronic auction system will be prepared and established companies will be introduced in the securities market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the board, the regulations related to the warehouses for the operation of the commodity exchange market, the regulations related to commodity trading brokers and market makers, and the regulations related to clearance and settlement, which have been in the board's plan for a long time, will be prepared this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board has a policy of allowing entrepreneurs and innovators who do not have enough capital to mobilize capital and professional knowledge through private equity and venture capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The issue of coordinating and facilitating the development of the automatic trading system of government bonds has also been given continuity in the new policies and programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the new policy, the work of the board will be made high-tech and information technology-friendly in order to provide speedy service. There is a plan to make the supervision system agile through artificial intelligence and discourage manipulation and unfair activities in the market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15448', 'image' => '20220729040434_Sebonnn.jpg', 'article_date' => '2022-07-29 16:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15706', 'article_category_id' => '1', 'title' => 'Interest on Repo Increases to 8.5 Percent', 'sub_title' => '', 'summary' => 'July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period. After the implementation of the new policy rate by the Nepal Rastra Bank, the interest rate of inter-bank transaction and repo as well as the discount rate of treasury bills have also increased.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Banks have offered interest up to 8.55 per cent for the repurchase agreement (repo) issued by Nepal Rastra Bank on Thursday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Banks have bid as much as Rs 60 billion for a repo of Rs 30 billion. Out of the 87 bids from 21 institutions, the minimum interest rate was 8.2 per cent, and the average interest rate was 8.38 per cent, said NRB Spokesperson Dr Gunakar Bhatt.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the last fiscal year, Nepal Rastra Bank issued repo worth Rs 70 billion three times. Back then, the banks had offered a maximum interest rate of 4.8 per cent only. In the current fiscal year, the NRB has introduced a policy of tightening credit by increasing interest rates. In the monetary policy, the bank rate has been increased by 1.5 percentage points to 8.5 per cent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The deadline for standing liquidity facility (SLF) taken by banks for liquidity management has also been reduced by 2 days and is now fixed at 5 days. Similarly, the policy rate has increased from 5.5 per cent to 7 per cent, and the deposit collection rate has increased from 4 per cent to 5.5 per cent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although NRB has not issued instructions to implement these provisions, it has already increased the interest rate, which has affected the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Even though the NRB has increased the policy rate, the interest rate of inter-bank transactions has also reached 8.48 per cent. The interbank rate was less than 7 per cent until the central bank increased the policy rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, there was a provision to change the policy rate only after the NRB issued a directive, but this year it has already been implemented before issuing such directive. Spokesperson Bhatt said that the policy rate announced by the NRB through the monetary policy has already been implemented by the concerned department.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15447', 'image' => '20220729030330_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-29 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15704', 'article_category_id' => '1', 'title' => 'National Pride Projects Lack Clear Modality: Parliamentary Committee', 'sub_title' => '', 'summary' => 'July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic. The National Interest Coordination Committee of the upper house reached such conclusion based on a recent study conducted by the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The study report states that most of the national pride projects are in problem because of lack of preparedness while announcing the project as well as lack of clear modality in implementing those projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the report, the National Planning Commission must take into consideration the topics such as strategic development and fiscal, technical and managerial issues while announcing national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The parliamentary committee report has also pointed out the need to take into consideration the assessment of financial and social aspects and environmental impact assessment along with employment opportunities, poverty alleviation, inclusion and end of discrimination among other issues while preparing the base for a national pride project.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Dil Kumari Rawal Thapa said that the study team found that the NPC did not have any clear basis while selecting national pride projects. As a result, even the projects without any preliminary feasibility report have been included as national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The report has suggested the government to ensure that the design of the national pride projects maintains balance between development and environment and causes minimal damage to the forest areas. </span></span></p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15446', 'image' => '20220729094952_nepal-parl.jpg', 'article_date' => '2022-07-29 09:49:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15705', 'article_category_id' => '1', 'title' => 'US Assistant Secretary Lu in a ‘Meaningful’ Visit to Nepal', 'sub_title' => '', 'summary' => 'July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday for a tow-day visit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the first highly-ranked diplomat of the USA to visit Nepal five weeks after the Government of Nepal decided not to proceed ahead with the State Partnership Programme (SPP) of the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu’s visit is considered to be ‘meaningful’ in this context.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The senior official of the USA visited Nepal via New Delhi at a time when Prime Minister Sher Bahadur Deuba’s US visit has become uncertain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu, who is in charge of the South and Central Asia Affairs, is scheduled to meet Prime Minister Sher Bahadur Deuba and Minister for Foreign Affairs Dr Narayan Khadka today (July 29). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prime Minister Deuba was preparing to visit the USA between mid-July to the end of July but the visit was put on hold after the government decided not to move ahead with the SPP project. The USA is reportedly in favour of implementing the SPP in Nepal to counter the growing influence of China. It has been learnt that the USA is annoyed with Nepal’s decision not to forward the SPP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the Council of Ministers had decided not to endorse the SPP, the government has not written any official letter to the US government in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is believed that Lu will discuss this issue with PM Deuba as well as his stalled visit to the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the US embassy in Nepal has said that Lu is in a routine visit to this region. A statement issued by the US embassy says that Lu will be handing over the Award for Corporate Excellence Purnaa, a U.S. manufacturing company in Nepal that promotes ethical manufacturing by empowering traditionally marginalized people and survivors of exploitation. Assistant Secretary Lu will also meet with business, civil society, and government leaders during his two-day visit, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the same official who had warned top leaders of Nepal in February that the US government will review its relation with Nepal of the Millennium Challenge Corporation (MCC) is not endorsed by parliament. Prior to that, he had visited Nepal in November and set the deadline of February 8 for endorsing the MCC grant agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15445', 'image' => '20220729101815_AS-Donald-Lu-1.jpg', 'article_date' => '2022-07-29 10:17:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15703', 'article_category_id' => '1', 'title' => 'Government to Re-operate Biratnagar Jute Mills', 'sub_title' => 'Feasibility Study underway to Re-operate Janakpur Cigarette Factory: Minister Badu ', 'summary' => 'July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu made such remarks after an on-site visit to the Biratnagar Jute Mills, which is currently shut down. Prior to this, two former industry ministers had also made such commitment but failed to do so. </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"">Back in 2018, the then Industry Minister Matrika Prasad Yadav had also visited Biratnagar Jute Mills on May 5 and pledged to reopen the defunct industry. Before that, the then Industry Minister Mahesh Basnet had also made the same announcement. However, Nilhari Kafle, who was appointed the chairman of the mill by Basnet, was dragged into a controversy and subsequently stepped down. </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"">Minister Badu has once again assured to operate the mill along with Janakpur Cigarette Factory, Nepal Metal Industry, Gorakhali Rubber Industry, Hetauda Textile, Birgunj Sugar Mill among other sick industries.</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"">Badu said that the government is conducting feasibility study to revive Janakpur Cigarette Factory. </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"">Talking to media persons after monitoring the factory that is defunct at present, Minister Badu informed that the government would take decision after conducting studies on modalities to re-operate sick industries across the country. </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"">Minister Badu said he was making on-site visit of the factory as a part of the government's plan to re-operate sick industries. The government, he added, aimed to reduce trade deficit by substituting imports in collaboration with the private sector. He added that the government intends to increase productivity and create job opportunities through this initiative. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that he arrived in Janakpur to take stock of the “once very famous factory” and the condition of its machineries as well as its assets. </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"">He was accompanied by Minister for Physical Infrastructure Development of Madhesh Province Ram Saroj Yadav and provincial government's employees among others. </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"">Minister Badu and provincial ministers also discussed ways to re-operate the Janakpur Cigarette Factory. (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15444', 'image' => '20220728031527_1476600216_jute_mills_vCafOj3vah..jpg', 'article_date' => '2022-07-28 15:14:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15702', 'article_category_id' => '1', 'title' => 'Promoting Handicraft Products Gives Self-Satisfaction to Archana Singh', 'sub_title' => '', 'summary' => 'July 28: After studying up to a certain level, a person desires for job.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 28: After studying up to a certain level, a person desires for job. Nobody tends to waver from the job if it is attractively paid, is safe and is associated with an international organisation. There are hardly any people who leave such jobs and opt for other professions. However, Archana Singh, owner of Craftmandu Handicraft is one of such rare figures.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Singh was working in the UNODC, a United Nations agency on drugs and crime reduction. Singh was the programme coordinator for Nepal in that organisation. However, she gave up the job and got into the field of handicraft. She feels that she is better known by the handicraft business than by her UN job. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“I get self-satisfaction from it. Here, I have been able to contribute something for others,” says Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">She worked for UNODC and ILO for about 16 years. After that, thinking that he should to do something by herself, she chose handicraft, an area of her interest since her childhood. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“When I joined, I did not have much knowledge about handicrafts, but I left my job and came here because it was an area of my interest since childhood,” she said. Her family and relatives did not like her decision to quit her job. But when the handicraft business got better, everyone encouraged her to work towards her interest. She says it is easy to achieve more success in business with the encouragement of family and society.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Singh says that because of the urge to do something in the field of handicrafts, her interest towards job started fading. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“There was no risk in the job. I was paid monthly. But I chose this profession to fulfil my desire to do something in the field of handicrafts.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">When she started a new venture, it was very challenging to compete with established businessmen years ago. However, she kept marching forward. Singh says that although she does not produce, she buys and sells the products of other women and street children and supports such entrepreneurs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">She said that after completing her master's degree in international development from America, she came back to do something in her country. She shared, “Despite coming here and working in various organizations for years, the dream of promoting Nepali products by working in the handicraft sector did not leave my mind.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Today she is established as a successful woman entrepreneur. Singh herself also paints and makes pots. She said that she only promotes Nepali products while combining her dream and business. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">At her Craftmandu Handicraft in Jhamsikhel, Lalitpur, children's clothes, kurtas, pashminas, gift items, cups, hand-painted cards, leather bags, purses, chocolates, silver items are sold. She says that before the earthquake and the Covid-19 pandemic, about 80 percent of the customers were foreigners, but now, the number of foreign customers has declined.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15443', 'image' => '20220728022352_936448_5129363.jpg', 'article_date' => '2022-07-28 14:23:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15716', 'article_category_id' => '1', 'title' => 'Chitwan National Park Distributes Rs 30 Million as Relief for People affected by Wildlife', 'sub_title' => '', 'summary' => 'July 31: The Chitwan National Park has distributed more than Rs 30 million as relief for the people affected by wildlife in the last fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 31: The Chitwan National Park has distributed more than Rs 30 million as relief for the people affected by wildlife in the last fiscal year. The total relief distribution amounted to Rs 30.473 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the national park office, relief of Rs 20.20 million was distributed to the families of people who lost their lives due to the attack of wild animals during the review period. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, as per the information provided by the park officials, Rs 2,911,000 was distributed to the families of seriously injured people and Rs 537,000 to the families of people who suffered minor injuries. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the park, Rs 1,782,000 was distributed to the families who suffered loss of livestock, Rs 54,000 to the families whose stored grain was damaged, Rs 147,000 to the families who lost their houses and Rs 3,399,000 to the families who lost their crops. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As informed by the office, during the review year period, 22 people died in the attacks of wild animals, 24 people were seriously injured and 29 people were slightly injured. Other incidents involved 148 cases of livestock damage, 6 cases of stored grain damage, 19 cases of household damage and 476 cases of crop damage.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Prasad Tiwari, the information officer of the national park, said that the incidents of wildlife attacks and damage increased last year as compared to the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Recently, it seems that there has been an increase in incidents of damages caused by wild animals. Increase in wildlife population has also resulted in encroachment of human settlements,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari informed that there has been an increase in relief distribution along with increased cases last year. He also informed that human damages occurred in the main area of the park as well, however, there is a provision to distribute relief only in cases of damage caused by wild animals outside the main area. He said that some of the victims’ families are in the process of receiving relief and only those who have completed the process are provided with relief.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15457', 'image' => '20220731055215_National-Park.jpg', 'article_date' => '2022-07-31 17:51:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15715', 'article_category_id' => '1', 'title' => 'Has Restrictions Reduced Imports of Banned Goods?', 'sub_title' => '', 'summary' => 'July 31: Nepal Rastra Bank (NRB) and the Government of Nepal has imposed restrictions since last winter in order to minimize the impact of Nepal’s trade deficit on foreign exchange reserves.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">July 31: Nepal Rastra Bank (NRB) and the Government of Nepal has imposed restrictions since last winter in order to minimize the impact of Nepal’s trade deficit on foreign exchange reserves. After the foreign exchange reserves started declining, the central bank issued a quota system on import of silver on November 29, 2021 restricting the import of silver worth more than USD 3500 at a time.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three weeks later, the NRB introduced a provision on December 20 requiring 50 to cent percent cash margin for importing goods under 20 different harmonic codes. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The central bank also lowered the limit on imports through document against payment (DAP), document against assessment (DAA) and TT. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">One month later, the central bank added 27 more items to the list of goods that require 50 to 100 percent cash margin for imports. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">After these steps failed to discourage imports, the central bank in early April issued a verbal directive to the commercial banks not to open LC for the import of luxury items such as vehicles for private use and liquor.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On top of it, the Ministry of Industry, Commerce and Supplies issued a notice in the Nepal Gazette on April 26 banning the import of certain goods till the end of the last fiscal year (FY 2021/22). Those goods included vehicles for private use, motorcycle of more than 250 cc capacity, smartphones worth more than USD 600, television sets of 32 inches and above, playing cards, diamonds, ready-made liquor, chips such as Lays and Kurkure, toys and tobacco products. The ban on imports of those products was later extended till August 30. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It seems that the government tried to restrict the imports of the same goods towards the end of the fiscal year that were imported without any hindrance during the start of the last fiscal year. Those ten goods were completely banned in the last two and a half months of the last fiscal year. Despite the ban, the import of three of the ten items have declined while the import of the remaining seven items has increased instead, according to the date released by the Department of Customs.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, the import of chips such as Lays and Kurkure, playing cards and vehicles of more than 250 cc capacity has declined. On the other hand import of products such as liquor, tobacco products, smartphones, toys, diamond, vehicles and television sets has increased. </span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15456', 'image' => '20220731054110_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-31 17:40:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15714', 'article_category_id' => '1', 'title' => 'Government Plans to Develop Hill Stations, Open New Peaks under Tourism Revival Plan', 'sub_title' => '', 'summary' => 'July 31: Stakeholders have expressed solidarity with the programmes announced by the government for the revival of the tourism sector. ', 'content' => '<p><span style="font-size:16px">July 31: Stakeholders have expressed solidarity with the programmes announced by the government for the revival of the tourism sector. They had been demanding government intervention in revitalizing the tourism sector that has been badly affected by the coronavirus pandemic.</span></p> <p><span style="font-size:16px">The government is now preparing to announce the Tourism Decade.</span></p> <p><span style="font-size:16px">The government will be making necessary preparations till the end of 2022 in order to announce the Tourism decade from 2023 to 2033, informed Hom Prasad Luitel, joint secretary at the Ministry of Culture, Tourism and Civil Aviation.</span></p> <p><span style="font-size:16px">“This year is about to end and so we will make necessary preparations to announce the Tourism Decade,” said Luitel, adding, “We will first plan what we will be doing throughout the next decade and then make an announcement next year.”</span></p> <p><span style="font-size:16px">The government has also included development of hill station in its plan. According to Luitel, the ministry has written a letter to the Nepal Tourism Board to prepare a plan to develop hill station and submit it within a week. He said that the NTB itself will prepare a separate plan for the development of hill station.</span></p> <p><span style="font-size:16px">The government is planning to conduct a feasibility study about developing hill stations in Pathibhara, Shey Phoksundo, Khaptad and Rara in collaboration with the provinces, local governments and private sector in line with the principle of diversification of tourism sector.</span></p> <p><span style="font-size:16px">Private sector stakeholders say that they are ready to invest if the government prepares necessary infrastructures needed for developing hill stations.</span></p> <p><span style="font-size:16px">Hoteliers of Kathmandu are also ready to invest in hill stations. One of the hoteliers told New Business Age that they are ready to invest if the government sets up infrastructures such as roads, electricity and drinking water facility.</span></p> <p><span style="font-size:16px">The arrival of tourists in Nepal had declined by percent in 2020 compared to 2019. Nevertheless, the arrival of tourists has started improving since the beginning of 2022.</span></p> <p><span style="font-size:16px">The tourism ministry has prepared a 58-point plan to revive the tourism industry and is working accordingly to implement it.</span></p> <p><span style="font-size:16px">Senior Vice President of the Hotel Association of Nepal Binayak Shah says that the government’s announcement of plans to revive the tourism sector is a positive step.</span></p> <p><span style="font-size:16px">“There was a need of a clear roadmap to revive the tourism sector and we wanted government’s cooperation in this regard,” said Shah, adding that they had given suggestions to the government about it. He further said that the government’s tourism revival plan should not be focused on garnering support for the upcoming election.</span></p> <p><span style="font-size:16px">He says that the plan of announcing the Tourism Decade is an ambitious plan. He says that government announces plans but the implementation part is mostly weak.</span></p> <p><span style="font-size:16px">The ministry has also announced to open new peaks for expedition under its tourism revival plan. So far, the government has opened peaks for expedition. As per the plan, government is preparing to open additional peaks between 5,800 meters and 8,000 meters. Neema Nuru Sherpa, president of Nepal Mountaineering Association, says that this decision has opened new avenues in the tourism sector.</span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15455', 'image' => '20220731034205_Tourist Arrival (1).jpeg', 'article_date' => '2022-07-31 15:40:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15713', 'article_category_id' => '1', 'title' => 'Chances of Rainfall till Tuesday ', 'sub_title' => '', 'summary' => 'July 31: Rainfall is likely to continue in most parts of the country until Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Rainfall is likely to continue in most parts of the country until Tuesday. Due to the active monsoon system, there is a chance of light to moderate rainfall with thunder and lightning in many parts of the country till Tuesday, said meteorologist at the Department of Hydrology and Meteorology Heera Bhattarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Bhattarai, there is possibility of heavy rain in one or two places of Province 1, Bagmati Province, Gandaki Province and Lumbini Province. Monsoon in likely to become more active in the east for the next three days, added Bhattarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, there is partial to moderate rainfall in few places of Province 1 while there is light to moderate rain with thunder/lightning in Bagmati, Gandaki and Lumbini provinces.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the night, the weather will be cloudy in the mountainous areas of the country, partially cloudy in the rest of the country. Furthermore, there will be light to moderate rainfall with thunder and lightning in few places of the hill areas of the country and heavy rain in one or two places of Madhes province. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15454', 'image' => '20220731023730_weather (1).jpg', 'article_date' => '2022-07-31 14:36:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15712', 'article_category_id' => '1', 'title' => 'NOC will not be Privatized: Minister Badu', 'sub_title' => '', 'summary' => 'July 31: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said the Nepal Oil Corporation (NOC) will not be privatized. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said the Nepal Oil Corporation (NOC) will not be privatized. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized on the occasion of the 27th annual general assembly of Nepal LP Gas Association on Saturday, Minister Badu said the NOC is supplying petroleum products with the assistance of the private sector and it will not be privatized. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the tax imposed on petroleum products has been reduced realizing the government's responsibility, Minister Badu, said reforms in the NOC was needed even by reducing its unnecessary expenses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu said that the government was ready to address the issues faced by the private sector and assured that he was working to resolve the private sector's problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting Chief of the Confederation of Nepalese Industries Krishna Adhikari, Senior Vice-President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) Dinesh Shrestha and other speakers expressed their opinions on different issues economy including the role of the private sector for the economic development, government policy on reducing consumption of petroleum products among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15453', 'image' => '20220731021855_nocc.jpg', 'article_date' => '2022-07-31 14:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15711', 'article_category_id' => '1', 'title' => 'Rs 75 Billion in Welfare Funds of Security Forces', 'sub_title' => '', 'summary' => 'July 31: The funds maintained by security forces have around Rs 75 billion.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 31: The funds maintained by security forces have around Rs 75 billion. The welfare funds of the Nepalese Army, Nepal Police among other security agencies have such a huge fund which is not invested anywhere.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The security agencies are unable to mobilize the fund even during the time of financial crisis because of a provision that does not allow the security forces to invest the fund in profit-generating ventures.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The size of army’s welfare fund, which was established years ago with just Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">12. 4 million, has currently expanded to Rs 69 billion. Out of the total amount, Rs 62 billion has been deposited in various banks. The Army Act has a provision under which the national army itself cannot invest its funds in profit-generating business.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Therefore, the army which has been paying an annual tax of Rs 500 million has not invested its money in any business, informed any army source. Next year, the army’s welfare fund will get an additional fund of Rs 20 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalese Army has invested around Rs 6 billion to operate medical college, school, petrol stations and drinking water for the army in line with the Army Act.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Around Rs 900,000 generated from such non-profit business is used for the welfare of the families of serving and retired army personnel.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Around 5,400 army personnel deployed in 12 different missions of the United Nations bring around USD 150 million back to Nepal each year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The recent report of the Auditor General states that the army’s petrol station and fair-price shops operated under the welfare fund do not go through annual audit. The report also suggests that the income generated from the fund should be invested in productive sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepalese Army Spokesperson Brigadier General Narayan Silwal says that the army has been investing the money of the welfare fund in necessary areas in line with the Army Act.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The army is ready to invest in the productive sector if the government amends the law,” said Silwal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Nepal Police also has its welfare fund worth around Rs 3.61 billion. This amount is also yet to be invested in productive sector. The fund is deposited in bank and the police force reaps the benefit of interest.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Armed Police Force also had established its fund almost two decades ago. The welfare fund of APF has around Rs Rs 2 billion. This amount is also not invested anywhere.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although efforts have been made to bring these funds in the capital market, it has not been possible so far.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15452', 'image' => '20220731113758_army.jpg', 'article_date' => '2022-07-31 11:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15710', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Gives ‘Clean Chit’ to Janardan Sharma', 'sub_title' => 'The Probe Committee Finds no Entry of Unauthorized Person to Fix Tax Rate in Budget ', 'summary' => 'July 31: The parliamentary special probe committee has given ‘clean chit’ to the then finance minister Janardan Sharma in a case related to his alleged involvement in changing the tax rates under the influence of unauthorised persons.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The parliamentary special probe committee has given ‘clean chit’ to the then finance minister Janardan Sharma in a case related to his alleged involvement in changing the tax rates under the influence of unauthorised persons.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The parliamentary committee formed to investigate the allegation has finally presented its report to the House of Representatives (HoR). </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Presenting the report in the lower house meeting on Friday, the committee chairperson Laxman Lal Karna said that the committee did not find the entry of unauthorized person in the finance ministry to change the tax rate. The committee shared the finding after studying the CCTV footage and analyzing the ministry's response and documents and discussion with the finance ministry officials, the state-owned national news agency RSS reported. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The probe committee did not find the entry of authorized person to fix the tax rate. As there is a dedicated thematic committee to study the impacts of changes in tax rate, this special committee does not need to devote further time in this matter," the report concluded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee had inspected CCTV installation and its recording at the ministry and sent the CCTV footages to the digital forensic lab of the Nepal Police for its recovery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was prepared based on documents received from the ministry, talks with office bearers, the report and details recovered from the CCTV footages and other evidences received from the Nepal Police, said Karna. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee was initially provided 10 days for the investigation and later the deadline was extended by a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The then finance minister Janardan Sharma had resigned from his post following the formation of the parliamentary probe committee. Sharma was accused of bringing unauthorized person to the ministry to influence the tax rate on the eve of the budget announcement. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15451', 'image' => '20220731110219_finnnnn.jpg', 'article_date' => '2022-07-31 11:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15709', 'article_category_id' => '1', 'title' => 'Brokers and Investors Give Mixed Reaction to SEBON Programmes', 'sub_title' => '', 'summary' => 'July 29: Stock brokers and investors have expressed mixed reactions to the policies and programmes of announced by the Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: Stock brokers and investors have expressed mixed reactions to the policies and programmes of announced by the Securities Board of Nepal (SEBON). </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Tara Prasad Phullel, vice president of the Share Investors Association, said that although many old points have been repeated in the policies and programmes for the current fiscal year, he said he is confident that those objectives will be accomplished this year. He said that the old plans have been repeated because they are needed now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He expects that the policies and programmes will be implemented without any obstacle as the SEBON chairman has already done important works for the development and expansion of the capital market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> “Even though the programmes and policies are overall good, the issue of broker license is still not clear,” said Phullel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Santosh Mainali, president of the Stock Brokers Association, said that the policies and programmes are generally good, but the issue of adding brokers is unclear. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“When the president said that the capital structure will be based on the number of licenses, it is not clear whether the NEPSE’s system supports a large number of brokers or not,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He said that the issue of giving approval to existing brokers for branch expansion and provision of sub-broker services is not mentioned this year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15450', 'image' => '20220729053845_sebon.jpg', 'article_date' => '2022-07-29 17:38:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15708', 'article_category_id' => '1', 'title' => 'Yeti Airlines Aircraft makes Safe Landing after Engine Malfunction', 'sub_title' => '', 'summary' => 'July 29: An aircraft of Yeti Airlines that took off from Pokhara to Kathmandu this morning (Friday) made a safe landing back in Pokhara six minutes later following a technical problem.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 29: An aircraft of Yeti Airlines that took off from Pokhara to Kathmandu this morning (Friday) made a safe landing back in Pokhara six minutes later following a technical problem.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the aircraft returned back to Pokhara after its engine malfunctioned.</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"">Dev Raj Subedi, information officer of Pokhara Airport, told RSS that the aircraft with call sign '9-NANG' returned safely to Pokhara six minutes after take-off. According to Subedi, the aircraft carrying 45 passengers had left Pokhara at 8:45 am. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15449', 'image' => '20220729052841_31534744547_53f0fff7b5_b.jpg', 'article_date' => '2022-07-29 17:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15707', 'article_category_id' => '1', 'title' => 'SEBON Introduces New Policies and Programmes', 'sub_title' => '', 'summary' => 'July 29: Securities Board of Nepal (SEBON) has announced its plan to add stock brokers in the secondary market due to excessive rise in the number of transactions. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: Securities Board of Nepal (SEBON) has announced its plan to add stock brokers in the secondary market due to excessive rise in the number of transactions. The board made such announcement while unveiling its policies and programmes for the current fiscal year (FY 2022/23) on Thursday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">With the scope of the secondary market widening, chairman of the board Ramesh Kumar Hamal said that SEBON took a decision to this effect considering the need to increase the number of securities brokers and services and facilities.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board has made preparations to issue three types of broker licenses. Based on the services provided by the broker company, the board has plans to issue new broker licenses to companies with paid-up capital ranging from Rs 200 million to 1.5 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He argued that the board arranged capital structure as an opportunity to the stock brokers, who were demanding an increase in their scope of work. Hamal expressed that more capital is needed to increase the scope of work and seeing the profit that the current brokers is earning, there should be no problem. He says that the current broker can choose the path of merger to solve the problem related to the capital expansion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Many points of the policies and programs are just repetition of the past policies. In the past, there was a matter of giving broker license to bank subsidiaries. This year, it seems that anyone who meets the capital structure and the prescribed criteria set by the board will get a license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">There is also a plan to list commercially successful companies in the secondary market. In addition, there are plans to include public limited companies with capital of Rs 1 billion or more in the secondary market. The ASBA and C-ASBA system will be improved so that Nepalese employed abroad can apply for IPO.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board said that the policies, procedures and technology necessary to bring other companies to the securities market will be arranged. Hamal said that the secondary market transaction will be made completely based on electronic technology to facilitate linking the transaction system with the bank and Demat accounts of the investors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the board, to operate the book building system in a sustainable and transparent manner, the internationally used automated electronic auction system will be prepared and established companies will be introduced in the securities market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the board, the regulations related to the warehouses for the operation of the commodity exchange market, the regulations related to commodity trading brokers and market makers, and the regulations related to clearance and settlement, which have been in the board's plan for a long time, will be prepared this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board has a policy of allowing entrepreneurs and innovators who do not have enough capital to mobilize capital and professional knowledge through private equity and venture capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The issue of coordinating and facilitating the development of the automatic trading system of government bonds has also been given continuity in the new policies and programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the new policy, the work of the board will be made high-tech and information technology-friendly in order to provide speedy service. There is a plan to make the supervision system agile through artificial intelligence and discourage manipulation and unfair activities in the market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15448', 'image' => '20220729040434_Sebonnn.jpg', 'article_date' => '2022-07-29 16:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15706', 'article_category_id' => '1', 'title' => 'Interest on Repo Increases to 8.5 Percent', 'sub_title' => '', 'summary' => 'July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period. After the implementation of the new policy rate by the Nepal Rastra Bank, the interest rate of inter-bank transaction and repo as well as the discount rate of treasury bills have also increased.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Banks have offered interest up to 8.55 per cent for the repurchase agreement (repo) issued by Nepal Rastra Bank on Thursday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Banks have bid as much as Rs 60 billion for a repo of Rs 30 billion. Out of the 87 bids from 21 institutions, the minimum interest rate was 8.2 per cent, and the average interest rate was 8.38 per cent, said NRB Spokesperson Dr Gunakar Bhatt.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the last fiscal year, Nepal Rastra Bank issued repo worth Rs 70 billion three times. Back then, the banks had offered a maximum interest rate of 4.8 per cent only. In the current fiscal year, the NRB has introduced a policy of tightening credit by increasing interest rates. In the monetary policy, the bank rate has been increased by 1.5 percentage points to 8.5 per cent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The deadline for standing liquidity facility (SLF) taken by banks for liquidity management has also been reduced by 2 days and is now fixed at 5 days. Similarly, the policy rate has increased from 5.5 per cent to 7 per cent, and the deposit collection rate has increased from 4 per cent to 5.5 per cent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although NRB has not issued instructions to implement these provisions, it has already increased the interest rate, which has affected the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Even though the NRB has increased the policy rate, the interest rate of inter-bank transactions has also reached 8.48 per cent. The interbank rate was less than 7 per cent until the central bank increased the policy rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, there was a provision to change the policy rate only after the NRB issued a directive, but this year it has already been implemented before issuing such directive. Spokesperson Bhatt said that the policy rate announced by the NRB through the monetary policy has already been implemented by the concerned department.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15447', 'image' => '20220729030330_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-29 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15704', 'article_category_id' => '1', 'title' => 'National Pride Projects Lack Clear Modality: Parliamentary Committee', 'sub_title' => '', 'summary' => 'July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic. The National Interest Coordination Committee of the upper house reached such conclusion based on a recent study conducted by the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The study report states that most of the national pride projects are in problem because of lack of preparedness while announcing the project as well as lack of clear modality in implementing those projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the report, the National Planning Commission must take into consideration the topics such as strategic development and fiscal, technical and managerial issues while announcing national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The parliamentary committee report has also pointed out the need to take into consideration the assessment of financial and social aspects and environmental impact assessment along with employment opportunities, poverty alleviation, inclusion and end of discrimination among other issues while preparing the base for a national pride project.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Dil Kumari Rawal Thapa said that the study team found that the NPC did not have any clear basis while selecting national pride projects. As a result, even the projects without any preliminary feasibility report have been included as national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The report has suggested the government to ensure that the design of the national pride projects maintains balance between development and environment and causes minimal damage to the forest areas. </span></span></p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15446', 'image' => '20220729094952_nepal-parl.jpg', 'article_date' => '2022-07-29 09:49:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15705', 'article_category_id' => '1', 'title' => 'US Assistant Secretary Lu in a ‘Meaningful’ Visit to Nepal', 'sub_title' => '', 'summary' => 'July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday for a tow-day visit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the first highly-ranked diplomat of the USA to visit Nepal five weeks after the Government of Nepal decided not to proceed ahead with the State Partnership Programme (SPP) of the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu’s visit is considered to be ‘meaningful’ in this context.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The senior official of the USA visited Nepal via New Delhi at a time when Prime Minister Sher Bahadur Deuba’s US visit has become uncertain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu, who is in charge of the South and Central Asia Affairs, is scheduled to meet Prime Minister Sher Bahadur Deuba and Minister for Foreign Affairs Dr Narayan Khadka today (July 29). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prime Minister Deuba was preparing to visit the USA between mid-July to the end of July but the visit was put on hold after the government decided not to move ahead with the SPP project. The USA is reportedly in favour of implementing the SPP in Nepal to counter the growing influence of China. It has been learnt that the USA is annoyed with Nepal’s decision not to forward the SPP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the Council of Ministers had decided not to endorse the SPP, the government has not written any official letter to the US government in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is believed that Lu will discuss this issue with PM Deuba as well as his stalled visit to the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the US embassy in Nepal has said that Lu is in a routine visit to this region. A statement issued by the US embassy says that Lu will be handing over the Award for Corporate Excellence Purnaa, a U.S. manufacturing company in Nepal that promotes ethical manufacturing by empowering traditionally marginalized people and survivors of exploitation. Assistant Secretary Lu will also meet with business, civil society, and government leaders during his two-day visit, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the same official who had warned top leaders of Nepal in February that the US government will review its relation with Nepal of the Millennium Challenge Corporation (MCC) is not endorsed by parliament. Prior to that, he had visited Nepal in November and set the deadline of February 8 for endorsing the MCC grant agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15445', 'image' => '20220729101815_AS-Donald-Lu-1.jpg', 'article_date' => '2022-07-29 10:17:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15703', 'article_category_id' => '1', 'title' => 'Government to Re-operate Biratnagar Jute Mills', 'sub_title' => 'Feasibility Study underway to Re-operate Janakpur Cigarette Factory: Minister Badu ', 'summary' => 'July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu made such remarks after an on-site visit to the Biratnagar Jute Mills, which is currently shut down. Prior to this, two former industry ministers had also made such commitment but failed to do so. </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"">Back in 2018, the then Industry Minister Matrika Prasad Yadav had also visited Biratnagar Jute Mills on May 5 and pledged to reopen the defunct industry. Before that, the then Industry Minister Mahesh Basnet had also made the same announcement. However, Nilhari Kafle, who was appointed the chairman of the mill by Basnet, was dragged into a controversy and subsequently stepped down. </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"">Minister Badu has once again assured to operate the mill along with Janakpur Cigarette Factory, Nepal Metal Industry, Gorakhali Rubber Industry, Hetauda Textile, Birgunj Sugar Mill among other sick industries.</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"">Badu said that the government is conducting feasibility study to revive Janakpur Cigarette Factory. </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"">Talking to media persons after monitoring the factory that is defunct at present, Minister Badu informed that the government would take decision after conducting studies on modalities to re-operate sick industries across the country. </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"">Minister Badu said he was making on-site visit of the factory as a part of the government's plan to re-operate sick industries. The government, he added, aimed to reduce trade deficit by substituting imports in collaboration with the private sector. He added that the government intends to increase productivity and create job opportunities through this initiative. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that he arrived in Janakpur to take stock of the “once very famous factory” and the condition of its machineries as well as its assets. </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"">He was accompanied by Minister for Physical Infrastructure Development of Madhesh Province Ram Saroj Yadav and provincial government's employees among others. </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"">Minister Badu and provincial ministers also discussed ways to re-operate the Janakpur Cigarette Factory. (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15444', 'image' => '20220728031527_1476600216_jute_mills_vCafOj3vah..jpg', 'article_date' => '2022-07-28 15:14:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15702', 'article_category_id' => '1', 'title' => 'Promoting Handicraft Products Gives Self-Satisfaction to Archana Singh', 'sub_title' => '', 'summary' => 'July 28: After studying up to a certain level, a person desires for job.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 28: After studying up to a certain level, a person desires for job. Nobody tends to waver from the job if it is attractively paid, is safe and is associated with an international organisation. There are hardly any people who leave such jobs and opt for other professions. However, Archana Singh, owner of Craftmandu Handicraft is one of such rare figures.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Singh was working in the UNODC, a United Nations agency on drugs and crime reduction. Singh was the programme coordinator for Nepal in that organisation. However, she gave up the job and got into the field of handicraft. She feels that she is better known by the handicraft business than by her UN job. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“I get self-satisfaction from it. Here, I have been able to contribute something for others,” says Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">She worked for UNODC and ILO for about 16 years. After that, thinking that he should to do something by herself, she chose handicraft, an area of her interest since her childhood. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“When I joined, I did not have much knowledge about handicrafts, but I left my job and came here because it was an area of my interest since childhood,” she said. Her family and relatives did not like her decision to quit her job. But when the handicraft business got better, everyone encouraged her to work towards her interest. She says it is easy to achieve more success in business with the encouragement of family and society.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Singh says that because of the urge to do something in the field of handicrafts, her interest towards job started fading. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“There was no risk in the job. I was paid monthly. But I chose this profession to fulfil my desire to do something in the field of handicrafts.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">When she started a new venture, it was very challenging to compete with established businessmen years ago. However, she kept marching forward. Singh says that although she does not produce, she buys and sells the products of other women and street children and supports such entrepreneurs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">She said that after completing her master's degree in international development from America, she came back to do something in her country. She shared, “Despite coming here and working in various organizations for years, the dream of promoting Nepali products by working in the handicraft sector did not leave my mind.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Today she is established as a successful woman entrepreneur. Singh herself also paints and makes pots. She said that she only promotes Nepali products while combining her dream and business. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">At her Craftmandu Handicraft in Jhamsikhel, Lalitpur, children's clothes, kurtas, pashminas, gift items, cups, hand-painted cards, leather bags, purses, chocolates, silver items are sold. She says that before the earthquake and the Covid-19 pandemic, about 80 percent of the customers were foreigners, but now, the number of foreign customers has declined.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15443', 'image' => '20220728022352_936448_5129363.jpg', 'article_date' => '2022-07-28 14:23:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15716', 'article_category_id' => '1', 'title' => 'Chitwan National Park Distributes Rs 30 Million as Relief for People affected by Wildlife', 'sub_title' => '', 'summary' => 'July 31: The Chitwan National Park has distributed more than Rs 30 million as relief for the people affected by wildlife in the last fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 31: The Chitwan National Park has distributed more than Rs 30 million as relief for the people affected by wildlife in the last fiscal year. The total relief distribution amounted to Rs 30.473 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the national park office, relief of Rs 20.20 million was distributed to the families of people who lost their lives due to the attack of wild animals during the review period. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, as per the information provided by the park officials, Rs 2,911,000 was distributed to the families of seriously injured people and Rs 537,000 to the families of people who suffered minor injuries. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the park, Rs 1,782,000 was distributed to the families who suffered loss of livestock, Rs 54,000 to the families whose stored grain was damaged, Rs 147,000 to the families who lost their houses and Rs 3,399,000 to the families who lost their crops. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As informed by the office, during the review year period, 22 people died in the attacks of wild animals, 24 people were seriously injured and 29 people were slightly injured. Other incidents involved 148 cases of livestock damage, 6 cases of stored grain damage, 19 cases of household damage and 476 cases of crop damage.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Prasad Tiwari, the information officer of the national park, said that the incidents of wildlife attacks and damage increased last year as compared to the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Recently, it seems that there has been an increase in incidents of damages caused by wild animals. Increase in wildlife population has also resulted in encroachment of human settlements,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari informed that there has been an increase in relief distribution along with increased cases last year. He also informed that human damages occurred in the main area of the park as well, however, there is a provision to distribute relief only in cases of damage caused by wild animals outside the main area. He said that some of the victims’ families are in the process of receiving relief and only those who have completed the process are provided with relief.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15457', 'image' => '20220731055215_National-Park.jpg', 'article_date' => '2022-07-31 17:51:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15715', 'article_category_id' => '1', 'title' => 'Has Restrictions Reduced Imports of Banned Goods?', 'sub_title' => '', 'summary' => 'July 31: Nepal Rastra Bank (NRB) and the Government of Nepal has imposed restrictions since last winter in order to minimize the impact of Nepal’s trade deficit on foreign exchange reserves.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">July 31: Nepal Rastra Bank (NRB) and the Government of Nepal has imposed restrictions since last winter in order to minimize the impact of Nepal’s trade deficit on foreign exchange reserves. After the foreign exchange reserves started declining, the central bank issued a quota system on import of silver on November 29, 2021 restricting the import of silver worth more than USD 3500 at a time.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three weeks later, the NRB introduced a provision on December 20 requiring 50 to cent percent cash margin for importing goods under 20 different harmonic codes. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The central bank also lowered the limit on imports through document against payment (DAP), document against assessment (DAA) and TT. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">One month later, the central bank added 27 more items to the list of goods that require 50 to 100 percent cash margin for imports. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">After these steps failed to discourage imports, the central bank in early April issued a verbal directive to the commercial banks not to open LC for the import of luxury items such as vehicles for private use and liquor.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On top of it, the Ministry of Industry, Commerce and Supplies issued a notice in the Nepal Gazette on April 26 banning the import of certain goods till the end of the last fiscal year (FY 2021/22). Those goods included vehicles for private use, motorcycle of more than 250 cc capacity, smartphones worth more than USD 600, television sets of 32 inches and above, playing cards, diamonds, ready-made liquor, chips such as Lays and Kurkure, toys and tobacco products. The ban on imports of those products was later extended till August 30. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It seems that the government tried to restrict the imports of the same goods towards the end of the fiscal year that were imported without any hindrance during the start of the last fiscal year. Those ten goods were completely banned in the last two and a half months of the last fiscal year. Despite the ban, the import of three of the ten items have declined while the import of the remaining seven items has increased instead, according to the date released by the Department of Customs.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, the import of chips such as Lays and Kurkure, playing cards and vehicles of more than 250 cc capacity has declined. On the other hand import of products such as liquor, tobacco products, smartphones, toys, diamond, vehicles and television sets has increased. </span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15456', 'image' => '20220731054110_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-31 17:40:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15714', 'article_category_id' => '1', 'title' => 'Government Plans to Develop Hill Stations, Open New Peaks under Tourism Revival Plan', 'sub_title' => '', 'summary' => 'July 31: Stakeholders have expressed solidarity with the programmes announced by the government for the revival of the tourism sector. ', 'content' => '<p><span style="font-size:16px">July 31: Stakeholders have expressed solidarity with the programmes announced by the government for the revival of the tourism sector. They had been demanding government intervention in revitalizing the tourism sector that has been badly affected by the coronavirus pandemic.</span></p> <p><span style="font-size:16px">The government is now preparing to announce the Tourism Decade.</span></p> <p><span style="font-size:16px">The government will be making necessary preparations till the end of 2022 in order to announce the Tourism decade from 2023 to 2033, informed Hom Prasad Luitel, joint secretary at the Ministry of Culture, Tourism and Civil Aviation.</span></p> <p><span style="font-size:16px">“This year is about to end and so we will make necessary preparations to announce the Tourism Decade,” said Luitel, adding, “We will first plan what we will be doing throughout the next decade and then make an announcement next year.”</span></p> <p><span style="font-size:16px">The government has also included development of hill station in its plan. According to Luitel, the ministry has written a letter to the Nepal Tourism Board to prepare a plan to develop hill station and submit it within a week. He said that the NTB itself will prepare a separate plan for the development of hill station.</span></p> <p><span style="font-size:16px">The government is planning to conduct a feasibility study about developing hill stations in Pathibhara, Shey Phoksundo, Khaptad and Rara in collaboration with the provinces, local governments and private sector in line with the principle of diversification of tourism sector.</span></p> <p><span style="font-size:16px">Private sector stakeholders say that they are ready to invest if the government prepares necessary infrastructures needed for developing hill stations.</span></p> <p><span style="font-size:16px">Hoteliers of Kathmandu are also ready to invest in hill stations. One of the hoteliers told New Business Age that they are ready to invest if the government sets up infrastructures such as roads, electricity and drinking water facility.</span></p> <p><span style="font-size:16px">The arrival of tourists in Nepal had declined by percent in 2020 compared to 2019. Nevertheless, the arrival of tourists has started improving since the beginning of 2022.</span></p> <p><span style="font-size:16px">The tourism ministry has prepared a 58-point plan to revive the tourism industry and is working accordingly to implement it.</span></p> <p><span style="font-size:16px">Senior Vice President of the Hotel Association of Nepal Binayak Shah says that the government’s announcement of plans to revive the tourism sector is a positive step.</span></p> <p><span style="font-size:16px">“There was a need of a clear roadmap to revive the tourism sector and we wanted government’s cooperation in this regard,” said Shah, adding that they had given suggestions to the government about it. He further said that the government’s tourism revival plan should not be focused on garnering support for the upcoming election.</span></p> <p><span style="font-size:16px">He says that the plan of announcing the Tourism Decade is an ambitious plan. He says that government announces plans but the implementation part is mostly weak.</span></p> <p><span style="font-size:16px">The ministry has also announced to open new peaks for expedition under its tourism revival plan. So far, the government has opened peaks for expedition. As per the plan, government is preparing to open additional peaks between 5,800 meters and 8,000 meters. Neema Nuru Sherpa, president of Nepal Mountaineering Association, says that this decision has opened new avenues in the tourism sector.</span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15455', 'image' => '20220731034205_Tourist Arrival (1).jpeg', 'article_date' => '2022-07-31 15:40:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15713', 'article_category_id' => '1', 'title' => 'Chances of Rainfall till Tuesday ', 'sub_title' => '', 'summary' => 'July 31: Rainfall is likely to continue in most parts of the country until Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Rainfall is likely to continue in most parts of the country until Tuesday. Due to the active monsoon system, there is a chance of light to moderate rainfall with thunder and lightning in many parts of the country till Tuesday, said meteorologist at the Department of Hydrology and Meteorology Heera Bhattarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Bhattarai, there is possibility of heavy rain in one or two places of Province 1, Bagmati Province, Gandaki Province and Lumbini Province. Monsoon in likely to become more active in the east for the next three days, added Bhattarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, there is partial to moderate rainfall in few places of Province 1 while there is light to moderate rain with thunder/lightning in Bagmati, Gandaki and Lumbini provinces.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the night, the weather will be cloudy in the mountainous areas of the country, partially cloudy in the rest of the country. Furthermore, there will be light to moderate rainfall with thunder and lightning in few places of the hill areas of the country and heavy rain in one or two places of Madhes province. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15454', 'image' => '20220731023730_weather (1).jpg', 'article_date' => '2022-07-31 14:36:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15712', 'article_category_id' => '1', 'title' => 'NOC will not be Privatized: Minister Badu', 'sub_title' => '', 'summary' => 'July 31: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said the Nepal Oil Corporation (NOC) will not be privatized. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said the Nepal Oil Corporation (NOC) will not be privatized. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized on the occasion of the 27th annual general assembly of Nepal LP Gas Association on Saturday, Minister Badu said the NOC is supplying petroleum products with the assistance of the private sector and it will not be privatized. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the tax imposed on petroleum products has been reduced realizing the government's responsibility, Minister Badu, said reforms in the NOC was needed even by reducing its unnecessary expenses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu said that the government was ready to address the issues faced by the private sector and assured that he was working to resolve the private sector's problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting Chief of the Confederation of Nepalese Industries Krishna Adhikari, Senior Vice-President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) Dinesh Shrestha and other speakers expressed their opinions on different issues economy including the role of the private sector for the economic development, government policy on reducing consumption of petroleum products among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15453', 'image' => '20220731021855_nocc.jpg', 'article_date' => '2022-07-31 14:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15711', 'article_category_id' => '1', 'title' => 'Rs 75 Billion in Welfare Funds of Security Forces', 'sub_title' => '', 'summary' => 'July 31: The funds maintained by security forces have around Rs 75 billion.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 31: The funds maintained by security forces have around Rs 75 billion. The welfare funds of the Nepalese Army, Nepal Police among other security agencies have such a huge fund which is not invested anywhere.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The security agencies are unable to mobilize the fund even during the time of financial crisis because of a provision that does not allow the security forces to invest the fund in profit-generating ventures.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The size of army’s welfare fund, which was established years ago with just Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">12. 4 million, has currently expanded to Rs 69 billion. Out of the total amount, Rs 62 billion has been deposited in various banks. The Army Act has a provision under which the national army itself cannot invest its funds in profit-generating business.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Therefore, the army which has been paying an annual tax of Rs 500 million has not invested its money in any business, informed any army source. Next year, the army’s welfare fund will get an additional fund of Rs 20 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalese Army has invested around Rs 6 billion to operate medical college, school, petrol stations and drinking water for the army in line with the Army Act.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Around Rs 900,000 generated from such non-profit business is used for the welfare of the families of serving and retired army personnel.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Around 5,400 army personnel deployed in 12 different missions of the United Nations bring around USD 150 million back to Nepal each year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The recent report of the Auditor General states that the army’s petrol station and fair-price shops operated under the welfare fund do not go through annual audit. The report also suggests that the income generated from the fund should be invested in productive sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepalese Army Spokesperson Brigadier General Narayan Silwal says that the army has been investing the money of the welfare fund in necessary areas in line with the Army Act.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The army is ready to invest in the productive sector if the government amends the law,” said Silwal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Nepal Police also has its welfare fund worth around Rs 3.61 billion. This amount is also yet to be invested in productive sector. The fund is deposited in bank and the police force reaps the benefit of interest.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Armed Police Force also had established its fund almost two decades ago. The welfare fund of APF has around Rs Rs 2 billion. This amount is also not invested anywhere.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although efforts have been made to bring these funds in the capital market, it has not been possible so far.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15452', 'image' => '20220731113758_army.jpg', 'article_date' => '2022-07-31 11:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15710', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Gives ‘Clean Chit’ to Janardan Sharma', 'sub_title' => 'The Probe Committee Finds no Entry of Unauthorized Person to Fix Tax Rate in Budget ', 'summary' => 'July 31: The parliamentary special probe committee has given ‘clean chit’ to the then finance minister Janardan Sharma in a case related to his alleged involvement in changing the tax rates under the influence of unauthorised persons.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The parliamentary special probe committee has given ‘clean chit’ to the then finance minister Janardan Sharma in a case related to his alleged involvement in changing the tax rates under the influence of unauthorised persons.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The parliamentary committee formed to investigate the allegation has finally presented its report to the House of Representatives (HoR). </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Presenting the report in the lower house meeting on Friday, the committee chairperson Laxman Lal Karna said that the committee did not find the entry of unauthorized person in the finance ministry to change the tax rate. The committee shared the finding after studying the CCTV footage and analyzing the ministry's response and documents and discussion with the finance ministry officials, the state-owned national news agency RSS reported. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The probe committee did not find the entry of authorized person to fix the tax rate. As there is a dedicated thematic committee to study the impacts of changes in tax rate, this special committee does not need to devote further time in this matter," the report concluded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee had inspected CCTV installation and its recording at the ministry and sent the CCTV footages to the digital forensic lab of the Nepal Police for its recovery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was prepared based on documents received from the ministry, talks with office bearers, the report and details recovered from the CCTV footages and other evidences received from the Nepal Police, said Karna. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee was initially provided 10 days for the investigation and later the deadline was extended by a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The then finance minister Janardan Sharma had resigned from his post following the formation of the parliamentary probe committee. Sharma was accused of bringing unauthorized person to the ministry to influence the tax rate on the eve of the budget announcement. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15451', 'image' => '20220731110219_finnnnn.jpg', 'article_date' => '2022-07-31 11:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15709', 'article_category_id' => '1', 'title' => 'Brokers and Investors Give Mixed Reaction to SEBON Programmes', 'sub_title' => '', 'summary' => 'July 29: Stock brokers and investors have expressed mixed reactions to the policies and programmes of announced by the Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: Stock brokers and investors have expressed mixed reactions to the policies and programmes of announced by the Securities Board of Nepal (SEBON). </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Tara Prasad Phullel, vice president of the Share Investors Association, said that although many old points have been repeated in the policies and programmes for the current fiscal year, he said he is confident that those objectives will be accomplished this year. He said that the old plans have been repeated because they are needed now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He expects that the policies and programmes will be implemented without any obstacle as the SEBON chairman has already done important works for the development and expansion of the capital market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> “Even though the programmes and policies are overall good, the issue of broker license is still not clear,” said Phullel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Santosh Mainali, president of the Stock Brokers Association, said that the policies and programmes are generally good, but the issue of adding brokers is unclear. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“When the president said that the capital structure will be based on the number of licenses, it is not clear whether the NEPSE’s system supports a large number of brokers or not,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He said that the issue of giving approval to existing brokers for branch expansion and provision of sub-broker services is not mentioned this year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15450', 'image' => '20220729053845_sebon.jpg', 'article_date' => '2022-07-29 17:38:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15708', 'article_category_id' => '1', 'title' => 'Yeti Airlines Aircraft makes Safe Landing after Engine Malfunction', 'sub_title' => '', 'summary' => 'July 29: An aircraft of Yeti Airlines that took off from Pokhara to Kathmandu this morning (Friday) made a safe landing back in Pokhara six minutes later following a technical problem.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 29: An aircraft of Yeti Airlines that took off from Pokhara to Kathmandu this morning (Friday) made a safe landing back in Pokhara six minutes later following a technical problem.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the aircraft returned back to Pokhara after its engine malfunctioned.</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"">Dev Raj Subedi, information officer of Pokhara Airport, told RSS that the aircraft with call sign '9-NANG' returned safely to Pokhara six minutes after take-off. According to Subedi, the aircraft carrying 45 passengers had left Pokhara at 8:45 am. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15449', 'image' => '20220729052841_31534744547_53f0fff7b5_b.jpg', 'article_date' => '2022-07-29 17:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15707', 'article_category_id' => '1', 'title' => 'SEBON Introduces New Policies and Programmes', 'sub_title' => '', 'summary' => 'July 29: Securities Board of Nepal (SEBON) has announced its plan to add stock brokers in the secondary market due to excessive rise in the number of transactions. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: Securities Board of Nepal (SEBON) has announced its plan to add stock brokers in the secondary market due to excessive rise in the number of transactions. The board made such announcement while unveiling its policies and programmes for the current fiscal year (FY 2022/23) on Thursday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">With the scope of the secondary market widening, chairman of the board Ramesh Kumar Hamal said that SEBON took a decision to this effect considering the need to increase the number of securities brokers and services and facilities.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board has made preparations to issue three types of broker licenses. Based on the services provided by the broker company, the board has plans to issue new broker licenses to companies with paid-up capital ranging from Rs 200 million to 1.5 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He argued that the board arranged capital structure as an opportunity to the stock brokers, who were demanding an increase in their scope of work. Hamal expressed that more capital is needed to increase the scope of work and seeing the profit that the current brokers is earning, there should be no problem. He says that the current broker can choose the path of merger to solve the problem related to the capital expansion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Many points of the policies and programs are just repetition of the past policies. In the past, there was a matter of giving broker license to bank subsidiaries. This year, it seems that anyone who meets the capital structure and the prescribed criteria set by the board will get a license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">There is also a plan to list commercially successful companies in the secondary market. In addition, there are plans to include public limited companies with capital of Rs 1 billion or more in the secondary market. The ASBA and C-ASBA system will be improved so that Nepalese employed abroad can apply for IPO.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board said that the policies, procedures and technology necessary to bring other companies to the securities market will be arranged. Hamal said that the secondary market transaction will be made completely based on electronic technology to facilitate linking the transaction system with the bank and Demat accounts of the investors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the board, to operate the book building system in a sustainable and transparent manner, the internationally used automated electronic auction system will be prepared and established companies will be introduced in the securities market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the board, the regulations related to the warehouses for the operation of the commodity exchange market, the regulations related to commodity trading brokers and market makers, and the regulations related to clearance and settlement, which have been in the board's plan for a long time, will be prepared this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board has a policy of allowing entrepreneurs and innovators who do not have enough capital to mobilize capital and professional knowledge through private equity and venture capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The issue of coordinating and facilitating the development of the automatic trading system of government bonds has also been given continuity in the new policies and programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the new policy, the work of the board will be made high-tech and information technology-friendly in order to provide speedy service. There is a plan to make the supervision system agile through artificial intelligence and discourage manipulation and unfair activities in the market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15448', 'image' => '20220729040434_Sebonnn.jpg', 'article_date' => '2022-07-29 16:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15706', 'article_category_id' => '1', 'title' => 'Interest on Repo Increases to 8.5 Percent', 'sub_title' => '', 'summary' => 'July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period. After the implementation of the new policy rate by the Nepal Rastra Bank, the interest rate of inter-bank transaction and repo as well as the discount rate of treasury bills have also increased.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Banks have offered interest up to 8.55 per cent for the repurchase agreement (repo) issued by Nepal Rastra Bank on Thursday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Banks have bid as much as Rs 60 billion for a repo of Rs 30 billion. Out of the 87 bids from 21 institutions, the minimum interest rate was 8.2 per cent, and the average interest rate was 8.38 per cent, said NRB Spokesperson Dr Gunakar Bhatt.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the last fiscal year, Nepal Rastra Bank issued repo worth Rs 70 billion three times. Back then, the banks had offered a maximum interest rate of 4.8 per cent only. In the current fiscal year, the NRB has introduced a policy of tightening credit by increasing interest rates. In the monetary policy, the bank rate has been increased by 1.5 percentage points to 8.5 per cent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The deadline for standing liquidity facility (SLF) taken by banks for liquidity management has also been reduced by 2 days and is now fixed at 5 days. Similarly, the policy rate has increased from 5.5 per cent to 7 per cent, and the deposit collection rate has increased from 4 per cent to 5.5 per cent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although NRB has not issued instructions to implement these provisions, it has already increased the interest rate, which has affected the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Even though the NRB has increased the policy rate, the interest rate of inter-bank transactions has also reached 8.48 per cent. The interbank rate was less than 7 per cent until the central bank increased the policy rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, there was a provision to change the policy rate only after the NRB issued a directive, but this year it has already been implemented before issuing such directive. Spokesperson Bhatt said that the policy rate announced by the NRB through the monetary policy has already been implemented by the concerned department.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15447', 'image' => '20220729030330_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-29 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15704', 'article_category_id' => '1', 'title' => 'National Pride Projects Lack Clear Modality: Parliamentary Committee', 'sub_title' => '', 'summary' => 'July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic. The National Interest Coordination Committee of the upper house reached such conclusion based on a recent study conducted by the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The study report states that most of the national pride projects are in problem because of lack of preparedness while announcing the project as well as lack of clear modality in implementing those projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the report, the National Planning Commission must take into consideration the topics such as strategic development and fiscal, technical and managerial issues while announcing national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The parliamentary committee report has also pointed out the need to take into consideration the assessment of financial and social aspects and environmental impact assessment along with employment opportunities, poverty alleviation, inclusion and end of discrimination among other issues while preparing the base for a national pride project.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Dil Kumari Rawal Thapa said that the study team found that the NPC did not have any clear basis while selecting national pride projects. As a result, even the projects without any preliminary feasibility report have been included as national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The report has suggested the government to ensure that the design of the national pride projects maintains balance between development and environment and causes minimal damage to the forest areas. </span></span></p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15446', 'image' => '20220729094952_nepal-parl.jpg', 'article_date' => '2022-07-29 09:49:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15705', 'article_category_id' => '1', 'title' => 'US Assistant Secretary Lu in a ‘Meaningful’ Visit to Nepal', 'sub_title' => '', 'summary' => 'July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday for a tow-day visit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the first highly-ranked diplomat of the USA to visit Nepal five weeks after the Government of Nepal decided not to proceed ahead with the State Partnership Programme (SPP) of the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu’s visit is considered to be ‘meaningful’ in this context.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The senior official of the USA visited Nepal via New Delhi at a time when Prime Minister Sher Bahadur Deuba’s US visit has become uncertain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu, who is in charge of the South and Central Asia Affairs, is scheduled to meet Prime Minister Sher Bahadur Deuba and Minister for Foreign Affairs Dr Narayan Khadka today (July 29). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prime Minister Deuba was preparing to visit the USA between mid-July to the end of July but the visit was put on hold after the government decided not to move ahead with the SPP project. The USA is reportedly in favour of implementing the SPP in Nepal to counter the growing influence of China. It has been learnt that the USA is annoyed with Nepal’s decision not to forward the SPP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the Council of Ministers had decided not to endorse the SPP, the government has not written any official letter to the US government in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is believed that Lu will discuss this issue with PM Deuba as well as his stalled visit to the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the US embassy in Nepal has said that Lu is in a routine visit to this region. A statement issued by the US embassy says that Lu will be handing over the Award for Corporate Excellence Purnaa, a U.S. manufacturing company in Nepal that promotes ethical manufacturing by empowering traditionally marginalized people and survivors of exploitation. Assistant Secretary Lu will also meet with business, civil society, and government leaders during his two-day visit, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the same official who had warned top leaders of Nepal in February that the US government will review its relation with Nepal of the Millennium Challenge Corporation (MCC) is not endorsed by parliament. Prior to that, he had visited Nepal in November and set the deadline of February 8 for endorsing the MCC grant agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15445', 'image' => '20220729101815_AS-Donald-Lu-1.jpg', 'article_date' => '2022-07-29 10:17:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15703', 'article_category_id' => '1', 'title' => 'Government to Re-operate Biratnagar Jute Mills', 'sub_title' => 'Feasibility Study underway to Re-operate Janakpur Cigarette Factory: Minister Badu ', 'summary' => 'July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu made such remarks after an on-site visit to the Biratnagar Jute Mills, which is currently shut down. Prior to this, two former industry ministers had also made such commitment but failed to do so. </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"">Back in 2018, the then Industry Minister Matrika Prasad Yadav had also visited Biratnagar Jute Mills on May 5 and pledged to reopen the defunct industry. Before that, the then Industry Minister Mahesh Basnet had also made the same announcement. However, Nilhari Kafle, who was appointed the chairman of the mill by Basnet, was dragged into a controversy and subsequently stepped down. </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"">Minister Badu has once again assured to operate the mill along with Janakpur Cigarette Factory, Nepal Metal Industry, Gorakhali Rubber Industry, Hetauda Textile, Birgunj Sugar Mill among other sick industries.</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"">Badu said that the government is conducting feasibility study to revive Janakpur Cigarette Factory. </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"">Talking to media persons after monitoring the factory that is defunct at present, Minister Badu informed that the government would take decision after conducting studies on modalities to re-operate sick industries across the country. </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"">Minister Badu said he was making on-site visit of the factory as a part of the government's plan to re-operate sick industries. The government, he added, aimed to reduce trade deficit by substituting imports in collaboration with the private sector. He added that the government intends to increase productivity and create job opportunities through this initiative. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that he arrived in Janakpur to take stock of the “once very famous factory” and the condition of its machineries as well as its assets. </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"">He was accompanied by Minister for Physical Infrastructure Development of Madhesh Province Ram Saroj Yadav and provincial government's employees among others. </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"">Minister Badu and provincial ministers also discussed ways to re-operate the Janakpur Cigarette Factory. (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15444', 'image' => '20220728031527_1476600216_jute_mills_vCafOj3vah..jpg', 'article_date' => '2022-07-28 15:14:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15702', 'article_category_id' => '1', 'title' => 'Promoting Handicraft Products Gives Self-Satisfaction to Archana Singh', 'sub_title' => '', 'summary' => 'July 28: After studying up to a certain level, a person desires for job.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 28: After studying up to a certain level, a person desires for job. Nobody tends to waver from the job if it is attractively paid, is safe and is associated with an international organisation. There are hardly any people who leave such jobs and opt for other professions. However, Archana Singh, owner of Craftmandu Handicraft is one of such rare figures.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Singh was working in the UNODC, a United Nations agency on drugs and crime reduction. Singh was the programme coordinator for Nepal in that organisation. However, she gave up the job and got into the field of handicraft. She feels that she is better known by the handicraft business than by her UN job. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“I get self-satisfaction from it. Here, I have been able to contribute something for others,” says Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">She worked for UNODC and ILO for about 16 years. After that, thinking that he should to do something by herself, she chose handicraft, an area of her interest since her childhood. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“When I joined, I did not have much knowledge about handicrafts, but I left my job and came here because it was an area of my interest since childhood,” she said. Her family and relatives did not like her decision to quit her job. But when the handicraft business got better, everyone encouraged her to work towards her interest. She says it is easy to achieve more success in business with the encouragement of family and society.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Singh says that because of the urge to do something in the field of handicrafts, her interest towards job started fading. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“There was no risk in the job. I was paid monthly. But I chose this profession to fulfil my desire to do something in the field of handicrafts.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">When she started a new venture, it was very challenging to compete with established businessmen years ago. However, she kept marching forward. Singh says that although she does not produce, she buys and sells the products of other women and street children and supports such entrepreneurs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">She said that after completing her master's degree in international development from America, she came back to do something in her country. She shared, “Despite coming here and working in various organizations for years, the dream of promoting Nepali products by working in the handicraft sector did not leave my mind.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Today she is established as a successful woman entrepreneur. Singh herself also paints and makes pots. She said that she only promotes Nepali products while combining her dream and business. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">At her Craftmandu Handicraft in Jhamsikhel, Lalitpur, children's clothes, kurtas, pashminas, gift items, cups, hand-painted cards, leather bags, purses, chocolates, silver items are sold. She says that before the earthquake and the Covid-19 pandemic, about 80 percent of the customers were foreigners, but now, the number of foreign customers has declined.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15443', 'image' => '20220728022352_936448_5129363.jpg', 'article_date' => '2022-07-28 14:23:12', '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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The total relief distribution amounted to Rs 30.473 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the national park office, relief of Rs 20.20 million was distributed to the families of people who lost their lives due to the attack of wild animals during the review period. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, as per the information provided by the park officials, Rs 2,911,000 was distributed to the families of seriously injured people and Rs 537,000 to the families of people who suffered minor injuries. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the park, Rs 1,782,000 was distributed to the families who suffered loss of livestock, Rs 54,000 to the families whose stored grain was damaged, Rs 147,000 to the families who lost their houses and Rs 3,399,000 to the families who lost their crops. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As informed by the office, during the review year period, 22 people died in the attacks of wild animals, 24 people were seriously injured and 29 people were slightly injured. Other incidents involved 148 cases of livestock damage, 6 cases of stored grain damage, 19 cases of household damage and 476 cases of crop damage.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Prasad Tiwari, the information officer of the national park, said that the incidents of wildlife attacks and damage increased last year as compared to the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“Recently, it seems that there has been an increase in incidents of damages caused by wild animals. Increase in wildlife population has also resulted in encroachment of human settlements,” he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Tiwari informed that there has been an increase in relief distribution along with increased cases last year. He also informed that human damages occurred in the main area of the park as well, however, there is a provision to distribute relief only in cases of damage caused by wild animals outside the main area. He said that some of the victims’ families are in the process of receiving relief and only those who have completed the process are provided with relief.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15457', 'image' => '20220731055215_National-Park.jpg', 'article_date' => '2022-07-31 17:51:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15715', 'article_category_id' => '1', 'title' => 'Has Restrictions Reduced Imports of Banned Goods?', 'sub_title' => '', 'summary' => 'July 31: Nepal Rastra Bank (NRB) and the Government of Nepal has imposed restrictions since last winter in order to minimize the impact of Nepal’s trade deficit on foreign exchange reserves.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">July 31: Nepal Rastra Bank (NRB) and the Government of Nepal has imposed restrictions since last winter in order to minimize the impact of Nepal’s trade deficit on foreign exchange reserves. After the foreign exchange reserves started declining, the central bank issued a quota system on import of silver on November 29, 2021 restricting the import of silver worth more than USD 3500 at a time.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Three weeks later, the NRB introduced a provision on December 20 requiring 50 to cent percent cash margin for importing goods under 20 different harmonic codes. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The central bank also lowered the limit on imports through document against payment (DAP), document against assessment (DAA) and TT. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">One month later, the central bank added 27 more items to the list of goods that require 50 to 100 percent cash margin for imports. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">After these steps failed to discourage imports, the central bank in early April issued a verbal directive to the commercial banks not to open LC for the import of luxury items such as vehicles for private use and liquor.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On top of it, the Ministry of Industry, Commerce and Supplies issued a notice in the Nepal Gazette on April 26 banning the import of certain goods till the end of the last fiscal year (FY 2021/22). Those goods included vehicles for private use, motorcycle of more than 250 cc capacity, smartphones worth more than USD 600, television sets of 32 inches and above, playing cards, diamonds, ready-made liquor, chips such as Lays and Kurkure, toys and tobacco products. The ban on imports of those products was later extended till August 30. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">It seems that the government tried to restrict the imports of the same goods towards the end of the fiscal year that were imported without any hindrance during the start of the last fiscal year. Those ten goods were completely banned in the last two and a half months of the last fiscal year. Despite the ban, the import of three of the ten items have declined while the import of the remaining seven items has increased instead, according to the date released by the Department of Customs.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, the import of chips such as Lays and Kurkure, playing cards and vehicles of more than 250 cc capacity has declined. On the other hand import of products such as liquor, tobacco products, smartphones, toys, diamond, vehicles and television sets has increased. </span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15456', 'image' => '20220731054110_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-31 17:40:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15714', 'article_category_id' => '1', 'title' => 'Government Plans to Develop Hill Stations, Open New Peaks under Tourism Revival Plan', 'sub_title' => '', 'summary' => 'July 31: Stakeholders have expressed solidarity with the programmes announced by the government for the revival of the tourism sector. ', 'content' => '<p><span style="font-size:16px">July 31: Stakeholders have expressed solidarity with the programmes announced by the government for the revival of the tourism sector. They had been demanding government intervention in revitalizing the tourism sector that has been badly affected by the coronavirus pandemic.</span></p> <p><span style="font-size:16px">The government is now preparing to announce the Tourism Decade.</span></p> <p><span style="font-size:16px">The government will be making necessary preparations till the end of 2022 in order to announce the Tourism decade from 2023 to 2033, informed Hom Prasad Luitel, joint secretary at the Ministry of Culture, Tourism and Civil Aviation.</span></p> <p><span style="font-size:16px">“This year is about to end and so we will make necessary preparations to announce the Tourism Decade,” said Luitel, adding, “We will first plan what we will be doing throughout the next decade and then make an announcement next year.”</span></p> <p><span style="font-size:16px">The government has also included development of hill station in its plan. According to Luitel, the ministry has written a letter to the Nepal Tourism Board to prepare a plan to develop hill station and submit it within a week. He said that the NTB itself will prepare a separate plan for the development of hill station.</span></p> <p><span style="font-size:16px">The government is planning to conduct a feasibility study about developing hill stations in Pathibhara, Shey Phoksundo, Khaptad and Rara in collaboration with the provinces, local governments and private sector in line with the principle of diversification of tourism sector.</span></p> <p><span style="font-size:16px">Private sector stakeholders say that they are ready to invest if the government prepares necessary infrastructures needed for developing hill stations.</span></p> <p><span style="font-size:16px">Hoteliers of Kathmandu are also ready to invest in hill stations. One of the hoteliers told New Business Age that they are ready to invest if the government sets up infrastructures such as roads, electricity and drinking water facility.</span></p> <p><span style="font-size:16px">The arrival of tourists in Nepal had declined by percent in 2020 compared to 2019. Nevertheless, the arrival of tourists has started improving since the beginning of 2022.</span></p> <p><span style="font-size:16px">The tourism ministry has prepared a 58-point plan to revive the tourism industry and is working accordingly to implement it.</span></p> <p><span style="font-size:16px">Senior Vice President of the Hotel Association of Nepal Binayak Shah says that the government’s announcement of plans to revive the tourism sector is a positive step.</span></p> <p><span style="font-size:16px">“There was a need of a clear roadmap to revive the tourism sector and we wanted government’s cooperation in this regard,” said Shah, adding that they had given suggestions to the government about it. He further said that the government’s tourism revival plan should not be focused on garnering support for the upcoming election.</span></p> <p><span style="font-size:16px">He says that the plan of announcing the Tourism Decade is an ambitious plan. He says that government announces plans but the implementation part is mostly weak.</span></p> <p><span style="font-size:16px">The ministry has also announced to open new peaks for expedition under its tourism revival plan. So far, the government has opened peaks for expedition. As per the plan, government is preparing to open additional peaks between 5,800 meters and 8,000 meters. Neema Nuru Sherpa, president of Nepal Mountaineering Association, says that this decision has opened new avenues in the tourism sector.</span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15455', 'image' => '20220731034205_Tourist Arrival (1).jpeg', 'article_date' => '2022-07-31 15:40:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15713', 'article_category_id' => '1', 'title' => 'Chances of Rainfall till Tuesday ', 'sub_title' => '', 'summary' => 'July 31: Rainfall is likely to continue in most parts of the country until Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Rainfall is likely to continue in most parts of the country until Tuesday. Due to the active monsoon system, there is a chance of light to moderate rainfall with thunder and lightning in many parts of the country till Tuesday, said meteorologist at the Department of Hydrology and Meteorology Heera Bhattarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Bhattarai, there is possibility of heavy rain in one or two places of Province 1, Bagmati Province, Gandaki Province and Lumbini Province. Monsoon in likely to become more active in the east for the next three days, added Bhattarai. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, there is partial to moderate rainfall in few places of Province 1 while there is light to moderate rain with thunder/lightning in Bagmati, Gandaki and Lumbini provinces.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the night, the weather will be cloudy in the mountainous areas of the country, partially cloudy in the rest of the country. Furthermore, there will be light to moderate rainfall with thunder and lightning in few places of the hill areas of the country and heavy rain in one or two places of Madhes province. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15454', 'image' => '20220731023730_weather (1).jpg', 'article_date' => '2022-07-31 14:36:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15712', 'article_category_id' => '1', 'title' => 'NOC will not be Privatized: Minister Badu', 'sub_title' => '', 'summary' => 'July 31: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said the Nepal Oil Corporation (NOC) will not be privatized. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said the Nepal Oil Corporation (NOC) will not be privatized. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organized on the occasion of the 27th annual general assembly of Nepal LP Gas Association on Saturday, Minister Badu said the NOC is supplying petroleum products with the assistance of the private sector and it will not be privatized. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the tax imposed on petroleum products has been reduced realizing the government's responsibility, Minister Badu, said reforms in the NOC was needed even by reducing its unnecessary expenses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu said that the government was ready to address the issues faced by the private sector and assured that he was working to resolve the private sector's problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting Chief of the Confederation of Nepalese Industries Krishna Adhikari, Senior Vice-President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) Dinesh Shrestha and other speakers expressed their opinions on different issues economy including the role of the private sector for the economic development, government policy on reducing consumption of petroleum products among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15453', 'image' => '20220731021855_nocc.jpg', 'article_date' => '2022-07-31 14:18:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15711', 'article_category_id' => '1', 'title' => 'Rs 75 Billion in Welfare Funds of Security Forces', 'sub_title' => '', 'summary' => 'July 31: The funds maintained by security forces have around Rs 75 billion.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 31: The funds maintained by security forces have around Rs 75 billion. The welfare funds of the Nepalese Army, Nepal Police among other security agencies have such a huge fund which is not invested anywhere.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The security agencies are unable to mobilize the fund even during the time of financial crisis because of a provision that does not allow the security forces to invest the fund in profit-generating ventures.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The size of army’s welfare fund, which was established years ago with just Rs </span><span style="font-family:"Arial Unicode MS","sans-serif"">12. 4 million, has currently expanded to Rs 69 billion. Out of the total amount, Rs 62 billion has been deposited in various banks. The Army Act has a provision under which the national army itself cannot invest its funds in profit-generating business.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Therefore, the army which has been paying an annual tax of Rs 500 million has not invested its money in any business, informed any army source. Next year, the army’s welfare fund will get an additional fund of Rs 20 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalese Army has invested around Rs 6 billion to operate medical college, school, petrol stations and drinking water for the army in line with the Army Act.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Around Rs 900,000 generated from such non-profit business is used for the welfare of the families of serving and retired army personnel.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Around 5,400 army personnel deployed in 12 different missions of the United Nations bring around USD 150 million back to Nepal each year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The recent report of the Auditor General states that the army’s petrol station and fair-price shops operated under the welfare fund do not go through annual audit. The report also suggests that the income generated from the fund should be invested in productive sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepalese Army Spokesperson Brigadier General Narayan Silwal says that the army has been investing the money of the welfare fund in necessary areas in line with the Army Act.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The army is ready to invest in the productive sector if the government amends the law,” said Silwal.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Nepal Police also has its welfare fund worth around Rs 3.61 billion. This amount is also yet to be invested in productive sector. The fund is deposited in bank and the police force reaps the benefit of interest.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Armed Police Force also had established its fund almost two decades ago. The welfare fund of APF has around Rs Rs 2 billion. This amount is also not invested anywhere.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although efforts have been made to bring these funds in the capital market, it has not been possible so far.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15452', 'image' => '20220731113758_army.jpg', 'article_date' => '2022-07-31 11:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15710', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Gives ‘Clean Chit’ to Janardan Sharma', 'sub_title' => 'The Probe Committee Finds no Entry of Unauthorized Person to Fix Tax Rate in Budget ', 'summary' => 'July 31: The parliamentary special probe committee has given ‘clean chit’ to the then finance minister Janardan Sharma in a case related to his alleged involvement in changing the tax rates under the influence of unauthorised persons.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 31: The parliamentary special probe committee has given ‘clean chit’ to the then finance minister Janardan Sharma in a case related to his alleged involvement in changing the tax rates under the influence of unauthorised persons.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The parliamentary committee formed to investigate the allegation has finally presented its report to the House of Representatives (HoR). </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Presenting the report in the lower house meeting on Friday, the committee chairperson Laxman Lal Karna said that the committee did not find the entry of unauthorized person in the finance ministry to change the tax rate. The committee shared the finding after studying the CCTV footage and analyzing the ministry's response and documents and discussion with the finance ministry officials, the state-owned national news agency RSS reported. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The probe committee did not find the entry of authorized person to fix the tax rate. As there is a dedicated thematic committee to study the impacts of changes in tax rate, this special committee does not need to devote further time in this matter," the report concluded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee had inspected CCTV installation and its recording at the ministry and sent the CCTV footages to the digital forensic lab of the Nepal Police for its recovery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was prepared based on documents received from the ministry, talks with office bearers, the report and details recovered from the CCTV footages and other evidences received from the Nepal Police, said Karna. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee was initially provided 10 days for the investigation and later the deadline was extended by a week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The then finance minister Janardan Sharma had resigned from his post following the formation of the parliamentary probe committee. Sharma was accused of bringing unauthorized person to the ministry to influence the tax rate on the eve of the budget announcement. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-07-31', 'modified' => '2022-07-31', 'keywords' => '', 'description' => '', 'sortorder' => '15451', 'image' => '20220731110219_finnnnn.jpg', 'article_date' => '2022-07-31 11:01:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15709', 'article_category_id' => '1', 'title' => 'Brokers and Investors Give Mixed Reaction to SEBON Programmes', 'sub_title' => '', 'summary' => 'July 29: Stock brokers and investors have expressed mixed reactions to the policies and programmes of announced by the Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: Stock brokers and investors have expressed mixed reactions to the policies and programmes of announced by the Securities Board of Nepal (SEBON). </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Tara Prasad Phullel, vice president of the Share Investors Association, said that although many old points have been repeated in the policies and programmes for the current fiscal year, he said he is confident that those objectives will be accomplished this year. He said that the old plans have been repeated because they are needed now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He expects that the policies and programmes will be implemented without any obstacle as the SEBON chairman has already done important works for the development and expansion of the capital market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> “Even though the programmes and policies are overall good, the issue of broker license is still not clear,” said Phullel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Santosh Mainali, president of the Stock Brokers Association, said that the policies and programmes are generally good, but the issue of adding brokers is unclear. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“When the president said that the capital structure will be based on the number of licenses, it is not clear whether the NEPSE’s system supports a large number of brokers or not,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He said that the issue of giving approval to existing brokers for branch expansion and provision of sub-broker services is not mentioned this year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15450', 'image' => '20220729053845_sebon.jpg', 'article_date' => '2022-07-29 17:38:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15708', 'article_category_id' => '1', 'title' => 'Yeti Airlines Aircraft makes Safe Landing after Engine Malfunction', 'sub_title' => '', 'summary' => 'July 29: An aircraft of Yeti Airlines that took off from Pokhara to Kathmandu this morning (Friday) made a safe landing back in Pokhara six minutes later following a technical problem.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 29: An aircraft of Yeti Airlines that took off from Pokhara to Kathmandu this morning (Friday) made a safe landing back in Pokhara six minutes later following a technical problem.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the aircraft returned back to Pokhara after its engine malfunctioned.</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"">Dev Raj Subedi, information officer of Pokhara Airport, told RSS that the aircraft with call sign '9-NANG' returned safely to Pokhara six minutes after take-off. According to Subedi, the aircraft carrying 45 passengers had left Pokhara at 8:45 am. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15449', 'image' => '20220729052841_31534744547_53f0fff7b5_b.jpg', 'article_date' => '2022-07-29 17:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15707', 'article_category_id' => '1', 'title' => 'SEBON Introduces New Policies and Programmes', 'sub_title' => '', 'summary' => 'July 29: Securities Board of Nepal (SEBON) has announced its plan to add stock brokers in the secondary market due to excessive rise in the number of transactions. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: Securities Board of Nepal (SEBON) has announced its plan to add stock brokers in the secondary market due to excessive rise in the number of transactions. The board made such announcement while unveiling its policies and programmes for the current fiscal year (FY 2022/23) on Thursday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">With the scope of the secondary market widening, chairman of the board Ramesh Kumar Hamal said that SEBON took a decision to this effect considering the need to increase the number of securities brokers and services and facilities.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board has made preparations to issue three types of broker licenses. Based on the services provided by the broker company, the board has plans to issue new broker licenses to companies with paid-up capital ranging from Rs 200 million to 1.5 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">He argued that the board arranged capital structure as an opportunity to the stock brokers, who were demanding an increase in their scope of work. Hamal expressed that more capital is needed to increase the scope of work and seeing the profit that the current brokers is earning, there should be no problem. He says that the current broker can choose the path of merger to solve the problem related to the capital expansion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Many points of the policies and programs are just repetition of the past policies. In the past, there was a matter of giving broker license to bank subsidiaries. This year, it seems that anyone who meets the capital structure and the prescribed criteria set by the board will get a license.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">There is also a plan to list commercially successful companies in the secondary market. In addition, there are plans to include public limited companies with capital of Rs 1 billion or more in the secondary market. The ASBA and C-ASBA system will be improved so that Nepalese employed abroad can apply for IPO.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board said that the policies, procedures and technology necessary to bring other companies to the securities market will be arranged. Hamal said that the secondary market transaction will be made completely based on electronic technology to facilitate linking the transaction system with the bank and Demat accounts of the investors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the board, to operate the book building system in a sustainable and transparent manner, the internationally used automated electronic auction system will be prepared and established companies will be introduced in the securities market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the board, the regulations related to the warehouses for the operation of the commodity exchange market, the regulations related to commodity trading brokers and market makers, and the regulations related to clearance and settlement, which have been in the board's plan for a long time, will be prepared this year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The board has a policy of allowing entrepreneurs and innovators who do not have enough capital to mobilize capital and professional knowledge through private equity and venture capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The issue of coordinating and facilitating the development of the automatic trading system of government bonds has also been given continuity in the new policies and programmes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the new policy, the work of the board will be made high-tech and information technology-friendly in order to provide speedy service. There is a plan to make the supervision system agile through artificial intelligence and discourage manipulation and unfair activities in the market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15448', 'image' => '20220729040434_Sebonnn.jpg', 'article_date' => '2022-07-29 16:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15706', 'article_category_id' => '1', 'title' => 'Interest on Repo Increases to 8.5 Percent', 'sub_title' => '', 'summary' => 'July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period. After the implementation of the new policy rate by the Nepal Rastra Bank, the interest rate of inter-bank transaction and repo as well as the discount rate of treasury bills have also increased.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Banks have offered interest up to 8.55 per cent for the repurchase agreement (repo) issued by Nepal Rastra Bank on Thursday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Banks have bid as much as Rs 60 billion for a repo of Rs 30 billion. Out of the 87 bids from 21 institutions, the minimum interest rate was 8.2 per cent, and the average interest rate was 8.38 per cent, said NRB Spokesperson Dr Gunakar Bhatt.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the last fiscal year, Nepal Rastra Bank issued repo worth Rs 70 billion three times. Back then, the banks had offered a maximum interest rate of 4.8 per cent only. In the current fiscal year, the NRB has introduced a policy of tightening credit by increasing interest rates. In the monetary policy, the bank rate has been increased by 1.5 percentage points to 8.5 per cent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The deadline for standing liquidity facility (SLF) taken by banks for liquidity management has also been reduced by 2 days and is now fixed at 5 days. Similarly, the policy rate has increased from 5.5 per cent to 7 per cent, and the deposit collection rate has increased from 4 per cent to 5.5 per cent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although NRB has not issued instructions to implement these provisions, it has already increased the interest rate, which has affected the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Even though the NRB has increased the policy rate, the interest rate of inter-bank transactions has also reached 8.48 per cent. The interbank rate was less than 7 per cent until the central bank increased the policy rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, there was a provision to change the policy rate only after the NRB issued a directive, but this year it has already been implemented before issuing such directive. Spokesperson Bhatt said that the policy rate announced by the NRB through the monetary policy has already been implemented by the concerned department.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15447', 'image' => '20220729030330_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-29 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15704', 'article_category_id' => '1', 'title' => 'National Pride Projects Lack Clear Modality: Parliamentary Committee', 'sub_title' => '', 'summary' => 'July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic. The National Interest Coordination Committee of the upper house reached such conclusion based on a recent study conducted by the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The study report states that most of the national pride projects are in problem because of lack of preparedness while announcing the project as well as lack of clear modality in implementing those projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the report, the National Planning Commission must take into consideration the topics such as strategic development and fiscal, technical and managerial issues while announcing national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The parliamentary committee report has also pointed out the need to take into consideration the assessment of financial and social aspects and environmental impact assessment along with employment opportunities, poverty alleviation, inclusion and end of discrimination among other issues while preparing the base for a national pride project.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Dil Kumari Rawal Thapa said that the study team found that the NPC did not have any clear basis while selecting national pride projects. As a result, even the projects without any preliminary feasibility report have been included as national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The report has suggested the government to ensure that the design of the national pride projects maintains balance between development and environment and causes minimal damage to the forest areas. </span></span></p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15446', 'image' => '20220729094952_nepal-parl.jpg', 'article_date' => '2022-07-29 09:49:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15705', 'article_category_id' => '1', 'title' => 'US Assistant Secretary Lu in a ‘Meaningful’ Visit to Nepal', 'sub_title' => '', 'summary' => 'July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday for a tow-day visit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the first highly-ranked diplomat of the USA to visit Nepal five weeks after the Government of Nepal decided not to proceed ahead with the State Partnership Programme (SPP) of the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu’s visit is considered to be ‘meaningful’ in this context.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The senior official of the USA visited Nepal via New Delhi at a time when Prime Minister Sher Bahadur Deuba’s US visit has become uncertain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu, who is in charge of the South and Central Asia Affairs, is scheduled to meet Prime Minister Sher Bahadur Deuba and Minister for Foreign Affairs Dr Narayan Khadka today (July 29). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prime Minister Deuba was preparing to visit the USA between mid-July to the end of July but the visit was put on hold after the government decided not to move ahead with the SPP project. The USA is reportedly in favour of implementing the SPP in Nepal to counter the growing influence of China. It has been learnt that the USA is annoyed with Nepal’s decision not to forward the SPP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the Council of Ministers had decided not to endorse the SPP, the government has not written any official letter to the US government in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is believed that Lu will discuss this issue with PM Deuba as well as his stalled visit to the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the US embassy in Nepal has said that Lu is in a routine visit to this region. A statement issued by the US embassy says that Lu will be handing over the Award for Corporate Excellence Purnaa, a U.S. manufacturing company in Nepal that promotes ethical manufacturing by empowering traditionally marginalized people and survivors of exploitation. Assistant Secretary Lu will also meet with business, civil society, and government leaders during his two-day visit, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the same official who had warned top leaders of Nepal in February that the US government will review its relation with Nepal of the Millennium Challenge Corporation (MCC) is not endorsed by parliament. Prior to that, he had visited Nepal in November and set the deadline of February 8 for endorsing the MCC grant agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15445', 'image' => '20220729101815_AS-Donald-Lu-1.jpg', 'article_date' => '2022-07-29 10:17:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15703', 'article_category_id' => '1', 'title' => 'Government to Re-operate Biratnagar Jute Mills', 'sub_title' => 'Feasibility Study underway to Re-operate Janakpur Cigarette Factory: Minister Badu ', 'summary' => 'July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu made such remarks after an on-site visit to the Biratnagar Jute Mills, which is currently shut down. Prior to this, two former industry ministers had also made such commitment but failed to do so. </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"">Back in 2018, the then Industry Minister Matrika Prasad Yadav had also visited Biratnagar Jute Mills on May 5 and pledged to reopen the defunct industry. Before that, the then Industry Minister Mahesh Basnet had also made the same announcement. However, Nilhari Kafle, who was appointed the chairman of the mill by Basnet, was dragged into a controversy and subsequently stepped down. </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"">Minister Badu has once again assured to operate the mill along with Janakpur Cigarette Factory, Nepal Metal Industry, Gorakhali Rubber Industry, Hetauda Textile, Birgunj Sugar Mill among other sick industries.</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"">Badu said that the government is conducting feasibility study to revive Janakpur Cigarette Factory. </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"">Talking to media persons after monitoring the factory that is defunct at present, Minister Badu informed that the government would take decision after conducting studies on modalities to re-operate sick industries across the country. </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"">Minister Badu said he was making on-site visit of the factory as a part of the government's plan to re-operate sick industries. The government, he added, aimed to reduce trade deficit by substituting imports in collaboration with the private sector. He added that the government intends to increase productivity and create job opportunities through this initiative. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that he arrived in Janakpur to take stock of the “once very famous factory” and the condition of its machineries as well as its assets. </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"">He was accompanied by Minister for Physical Infrastructure Development of Madhesh Province Ram Saroj Yadav and provincial government's employees among others. </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"">Minister Badu and provincial ministers also discussed ways to re-operate the Janakpur Cigarette Factory. (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15444', 'image' => '20220728031527_1476600216_jute_mills_vCafOj3vah..jpg', 'article_date' => '2022-07-28 15:14:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15702', 'article_category_id' => '1', 'title' => 'Promoting Handicraft Products Gives Self-Satisfaction to Archana Singh', 'sub_title' => '', 'summary' => 'July 28: After studying up to a certain level, a person desires for job.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 28: After studying up to a certain level, a person desires for job. Nobody tends to waver from the job if it is attractively paid, is safe and is associated with an international organisation. There are hardly any people who leave such jobs and opt for other professions. However, Archana Singh, owner of Craftmandu Handicraft is one of such rare figures.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Singh was working in the UNODC, a United Nations agency on drugs and crime reduction. Singh was the programme coordinator for Nepal in that organisation. However, she gave up the job and got into the field of handicraft. She feels that she is better known by the handicraft business than by her UN job. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“I get self-satisfaction from it. Here, I have been able to contribute something for others,” says Singh.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">She worked for UNODC and ILO for about 16 years. After that, thinking that he should to do something by herself, she chose handicraft, an area of her interest since her childhood. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“When I joined, I did not have much knowledge about handicrafts, but I left my job and came here because it was an area of my interest since childhood,” she said. Her family and relatives did not like her decision to quit her job. But when the handicraft business got better, everyone encouraged her to work towards her interest. She says it is easy to achieve more success in business with the encouragement of family and society.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Singh says that because of the urge to do something in the field of handicrafts, her interest towards job started fading. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“There was no risk in the job. I was paid monthly. But I chose this profession to fulfil my desire to do something in the field of handicrafts.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">When she started a new venture, it was very challenging to compete with established businessmen years ago. However, she kept marching forward. Singh says that although she does not produce, she buys and sells the products of other women and street children and supports such entrepreneurs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">She said that after completing her master's degree in international development from America, she came back to do something in her country. She shared, “Despite coming here and working in various organizations for years, the dream of promoting Nepali products by working in the handicraft sector did not leave my mind.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Today she is established as a successful woman entrepreneur. Singh herself also paints and makes pots. She said that she only promotes Nepali products while combining her dream and business. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">At her Craftmandu Handicraft in Jhamsikhel, Lalitpur, children's clothes, kurtas, pashminas, gift items, cups, hand-painted cards, leather bags, purses, chocolates, silver items are sold. She says that before the earthquake and the Covid-19 pandemic, about 80 percent of the customers were foreigners, but now, the number of foreign customers has declined.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15443', 'image' => '20220728022352_936448_5129363.jpg', 'article_date' => '2022-07-28 14:23:12', '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
