July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August…
July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August…
July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy.…
July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY…
July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax…
July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the…
July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from…
July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive.…
July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All…
July 27: Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable…
July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare…
July 26: Locals in Rasuwa have started transporting food to arrange meals for the devotees who reach the holy shrine of Gosaikunda for the Janai purnima fair on August…
July 26: Centurion Hotel, a subsidiary of Century Group of Nepal, has signed an agreement with Radisson Hotel Group for establishing Radisson Biratnagar, an international upscale hotel in Province…
July 26: Nepal’s trade deficit increased by 23 percent during the last fiscal year despite measures taken by the government to restrict…
July 26: The completion of the Kathmandu-Tarai Expressway (Fast Track) project within the deadline remains…
July 26: Nepal Rastra Bank has released the results of Inflation Expectations Survey (IES) for the third quarter of the last fiscal year (FY 2021/22).…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15701', 'article_category_id' => '1', 'title' => 'PATA Nepal to Organise 'Nepal Sales Mission-2022' in Thailand ', 'sub_title' => '', 'summary' => 'July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. ', '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: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Sales Mission-2022 is going to be organised with the objective of helping the post COVID-19 tourism revival campaign. </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 PATA Nepal, 20 tourism entrepreneurs, affiliated with PATA Nepal, and professionals would participate in the mission going to be organised in collaboration with Nepal Airlines Corporation, Thai Travel Agents Association, SS Group Thailand and Jawalakhel Group of Industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, more than 40 stakeholders associated to the tourism sector including Thai Travel Agents and Tour Operators, media would also participate in the mission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s Ambassador to Thailand, Ganesh Prasad Dhakal, would be the chief guest of the Nepal Sales Mission where CEO of PATA International, Liz Ortiguera, would participate as the special guest and keynote speaker. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of PATA Nepal chapter, Bibhuti Chand Thakur, expressed the belief that the Nepal Sales Mission would be the best forum to promote tourism potential between Nepal and Thailand, with Gautam Buddha international Airport already in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepali delegation would also participate in the 'Sixth PATA Destination Marketing Forum' to be held in Thailand from August 2-4, reads a press statement issued by PATA Nepal on Wednesday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15442', 'image' => '20220728124411_PN-Nepal-Sales-Mission-2022-Thailand.jpg', 'article_date' => '2022-07-28 12:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15700', 'article_category_id' => '1', 'title' => 'Government to Adopt Trade Integration Strategy', 'sub_title' => '', 'summary' => 'July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. ', '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: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. The Ministry of Industry, Commerce and Supplies has initiated the process of taking suggestions from stakeholders to finalize the 'Nepal Trade Integration Strategy 2079'.</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"">While Nepal is preparing to be upgraded from underdeveloped to developing country in the next few years, the government is preparing an integrated strategy, considering opportunities and challenges. </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"">Such strategy is going to be formulated during the Fifteenth Development Plan (2077-2081) with the objective of building an independent and socialist-oriented economy.</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 preliminary strategy prepared by the government was discussed in Birgunj on Wednesday. The ministry said that the integrated strategy will be finalized after taking suggestions from stakeholders. The government prepared a draft of the strategy with the support of the European Union, Nepal Trade and Investment Program and the Investment Program Facility.</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"">An expert group led by former Finance Secretary Rameshwar Khanal prepared the draft of the strategy. Khanal informed that the strategy focuses on the issue of the impact on foreign trade and how to solve it when Nepal transitions to the list of developing countries.</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"">After Nepal's upgrade, there will be no significant difference in trade with India, says Khanal. Experts say that the main purpose of the strategy is to find solutions to challenges and opportunities in trade with the European Union and the United States. Currently, the ratio of gross domestic product (GDP) and foreign trade is 39.3 percent, and the target is to increase it to 55 percent.</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"">Khanal informed that the ratio of exports of goods and services to GDP is 6.61 percent and the goal is to increase it to 20 percent. The strategy also emphasizes on studying what goods are being imported by other countries and from where, in order to increase exports and the possibility of Nepal exporting such goods to those countries.</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 government is planning to strengthen economic diplomacy to increase exports. At present, diplomatic missions and ambassadors in various countries will be mobilized to attract export trade and investment.</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 government's policy is to build business-supporting infrastructure and strengthen food security. </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"">Pushpa Sharma, a member of the expert group, said that plans are being made to this end.</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"">Improving quality and industrial standards will also be emphasized. </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"">Another expert, Rojan Bajracharya, said that while modernizing the production process, import substitution and export enhancement will be carried out strategically.</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 Lath, president of Madhes Province chapter of FNCCI, said that the efficiency of the business strategy depends on its successful implementation. </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"">Subodh Kumar Gupta, president of Birganj Chamber of Commerce and Industry, Mohan Sharma, president of Jitpur-Simara Chamber of Commerce and Industry, leather industrialist Mohammad Junaid Iftkhan and others said that the business strategy should focus on reducing the cost of production. They claimed that unless the cost of domestic production is cheap, it cannot survive in the domestic market, let alone exports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15441', 'image' => '20220728124828_1658961573.Clipboard25.jpg', 'article_date' => '2022-07-28 12:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15699', 'article_category_id' => '1', 'title' => 'Nepal Imported 1,807 EVs during Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). ', '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: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the data unveiled by the Department of Customs, majority of EVs imported last year came from China. Altogether 823 such vehicles arrived here from China followed by 696 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 184 EVs were brought in Nepal from South Korea, 78 EVs were imported from Japan, 23 from the UK, one from France and the remaining from other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the EVs imported were of 100 kilowatt and 150-200 kilowatt in capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government in the budget of last fiscal year had announced concession in excise duty for the EVs following which encouraging number of EVs made its way to Nepal during last fiscal year compared to the previous fiscal year (FY 2020/21) during which only 261 EVs were imported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government collected over Rs 1.43 billion in revenue from the import of 1,807 EVs in the last fiscal year while over Rs 5 billion flew out of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15440', 'image' => '20220728075905_electricvehicle-1611985899.jpg', 'article_date' => '2022-07-28 07:58:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15698', 'article_category_id' => '1', 'title' => 'Industrialists Present their Problems before Industry Minister', 'sub_title' => '', 'summary' => 'July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During a meeting organized by the Morang Merchants Association, 76-year-old Agarwal told the minister either to correct the tax rates or tell them to jump in the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The iron industry, which I have been operating for 47 years, is now closed,” said Agarwal, adding that the government is punishing the industry without any fault.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Naveen Rijal, president of Morang Merchants Association, said that even though the people have established the system that the leaders wanted through the people’s movement, the politicians are failing to address their aspirations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While informing Minister Badu about the problems faced by the industrial sector due to Russia-Ukraine war, Rijal asked him to take diplomatic initiative for the operation of the Mirganj bridge. He said that the government should take the initiative to open trade with Bangladesh for the industrial development of eastern Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that due to the delay in operation of the Mirganj bridge, the price of every item is more by Rs 2 per kg as they have to travel 105 kilometers more to reach Sunsari's Bhantabari transit point. Rizal said that the government is not serious about the issue of GI wire, vegetable oil, and sanitary pads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pradeep Murarka, the acting president of the Chamber of Industry Morang, said that although India has completed all necessary processes to bring cargo train to the Integrated Check Post, the Nepali side has not done anything concrete to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhim Ghimire, president of Province chapter of the Confederation of Nepalese Industry, said that the interest of bank loans should be brought down to single digit, the insurance companies should stop carteling, and a special economic zone should be built on a PPP model on 600 bigha of land in Amduwa.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Another entrepreneur, Shankarlal Agarwal, demanded the government to implement its commitment. Tara Chand Khaitan, the former president of the Morang Merchants Association, demanded the revocation of the provision to renew the EXIM code to stop smuggling through the open border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hulas Wire’s Director Yukti Golcha, Union Vice President Bikas Begwani, Vice President Anil Sah, Gopal Aggarwal, Pawan Sharda, and Basudev Golyan informed the minister about the problems faced by the industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"For Nepali consumers, import can be substituted only by giving preference to Nepali products," Minister Badu said, adding, "The government itself will bring the sick industries back into operation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15439', 'image' => '20220727080824_1658875100.Clipboard19.jpg', 'article_date' => '2022-07-27 20:07:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15697', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Recovers CCTV Footage which is ‘Unclear’', 'sub_title' => '', 'summary' => 'July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.', '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 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.</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"">Nevertheless, the Parliamentary Special Investigation Committee discussed and analyzed the CCTV footage which it obtained with much difficulty. The committee also called experts from the Forensic Science Laboratory of the Nepal Police and held a discussion on Tuesday. According to sources, the footage of the night of May 2</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">8</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">, which was deleted from the CCTV, has been recovered but the scenes are not clear.</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"">After realizing that the CCTV footage is not clear, the committee called experts to discuss about it. In Tuesday's meeting, the committee members asked the experts about the degradation of the video quality. The sought explanation regarding the absence of date and inability to play 51 clips as a single video. According to one of the members of the investigation committee, the experts said it was due to technical reasons and too many system checks.</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"">Surendra Aryal, member secretary of the committee, said that the experts gave their opinion on the things that were not clear. In response to the question of what was seen on the CCTV, he said, “The CCTV showed what was supposed to be shown. Now everything will be included in the report.” According to Aryal, the committee will hold a meeting at 11 am on Wednesday and start writing the report. Aryal also said that the discussion will be continued and conclusion will be drawn based on not only CCTV footage but all other means of investigation as well. </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""> “CCTV is not the sole evidence. We have other tools as well to reach the truth Aryal 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""> According to sources, the CCTV footage was unable to give clear conclusion. There is a possibility that there may be differences of opinion among the committee members while writing the report. Sources claim that there may be differences between the MPs of the ruling parties and the opposition party UML regarding the conclusion. All the members of the committee agree that the deadline will not be extended again. The committee was initially given a deadline of 10 days, but later 7 days were extended. There are 2 days left for the extended deadline to expire.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15438', 'image' => '20220727050930_20220707122044_ROS_KTM-4187.jpg', 'article_date' => '2022-07-27 17:08:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15696', 'article_category_id' => '1', 'title' => 'Importers Express Concern over Ban on Import of Liquor', 'sub_title' => '', 'summary' => 'July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.', '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 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.</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 Nepal Liquor Importers Association held a press conference in the capital on Tuesday and said that the import of ready-made liquor will cost USD 15 per litre, but the same liquor when sold to foreigners in hotels, restaurants and bars can earn as much as USD 120 per litre.</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 importing liquor, an average of USD 15 is lost per litre. But when it is sold from hotels, restaurants and bars, it earns USD 120 per litre,” said Anil Kumar Agarwal, president of the association. </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"">Agarwal also presented the data that the import of ready-made liquor will result in an outflow of USD 1.2 million (Rs 1.5 billion) and the government will receive Rs 3.3 billion as revenue from it. He claimed that the government is encouraging illegal imports by banning the import of ready-made liquor. </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 Agarwal, the amount spent on the import of liquor is only 0.10 per cent of the total foreign exchange reserves spent on the import of various goods in a 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 government has banned the import of ready-made liquor since April 26. Due to the ban, the supply of foreign liquor from official channels has decreased, and fake goods of international brands have started to enter the market, according to the association.</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 general secretary of the association, Gaurav Sharda, accused the government for giving smugglers the favourable ground to import liquor illegally. According to him, alcohol is a high-taxed commodity, so there is a lot of profit in tax evasion, leading in increase of smuggling in the border areas.</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 when there was no ban on imports, we have seen that liquor was brought to Nepal from India by smugglers and sold," Sharda said adding.</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"">If one litre of liquor is imported by dogging the revenue, the profit is Rs 3,500. Last January, the police seized 216 cartons of foreign brand liquor illegally imported from India in Kapan, Baneshwar and other places in the 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"">Sharda asked the media to make news based on facts stating that wrong data is being propagated regarding the import of liquor. </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><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><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><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><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><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><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><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><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><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><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><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><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><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><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' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15437', 'image' => '20220727030007_liquor.jpg', 'article_date' => '2022-07-27 14:59:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15695', 'article_category_id' => '1', 'title' => 'Monetary Policy is Positive: CBFIN', 'sub_title' => '', 'summary' => 'July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive. ', 'content' => '<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""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive while acknowledging that the achievement of the set goals and implementation of some of the arrangements adopted by it to be challenging. The confederation stated that the monetary policy has tightened economic activities for the improvement of the current economic situation due to which the goals set by the monetary policy will be challenging to achieve.</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 confederation said that the monetary policy has adopted timely policies to maintain economic and financial stability and bring the declining economy back on track.</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"">CBFIN has appreciated the central bank for including suggestions such as classification of loans flowing from banks and financial institutions, maintaining different interest rates for loans going to the productive sector and trade, development of the productive sector and credit flow to the productive sector, special priority to export promotion in the monetary policy. Similarly, CBFIN said that the provision of discounts on various services such as remittances brought into the country through formal channels, and the necessary amendments to the Foreign Investment and Foreign Debt Management Regulations, 2078 are highly commendable.</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"">CBFIN expects that the existing arrangements related to remittances will be reviewed to widen the scope of remittances inflow into Nepal and bank accounts will be made mandatory for Nepalese going abroad to help improve foreign exchange reserves. Likewise, it also believes that the increase in access to credit for small, domestic, small and medium enterprises, the productive sector including agriculture, exports and the continuation of re-financing facility for the sectors most affected by the Covid-19 pandemic, and the system where bonds can be counted as deposits, will help in the promotion of the commercial sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15436', 'image' => '20220727022441_monetary policy.jpg', 'article_date' => '2022-07-27 14:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15694', 'article_category_id' => '1', 'title' => 'Government to Receive Grant of Rs 1.37 Billion for Drinking Water Project ', 'sub_title' => '', 'summary' => 'July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference at the Ministry of Communications and Information Technology on Tuesday to disclose the decisions of the cabinet meeting held on July 25, Communications Minister Gyanendra Bahadur Karki shared that the government whas decided to accept 10.5 million euros from the European Union for the drinking water project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to accept grant equivalent to Rs 950 million from the Swiss government for the implementation of quality technical and vocational education and training project in the first phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government also decided to form a high-level study and recommendation committee headed by the National Planning Commission (NPC) Vice-chair to furnish recommendation on immediate measures to be taken on management and reduction of import. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal will be receiving a grant assistance of Japanese yen 376 million (approximately Rs 350 million) from Japan for implementation of the Human Resource Development (JDS) Project in the year 2022/23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The both parties signed and exchanged the notes in this regard amidst a programme at the Ministry of Finance on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Madhu Kumar Marasini and Charge d’affaires ad interim of Japan to Nepal Tamura Takahiro signed the documents on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the same occasion, grant agreement to this effect was signed by joint-secretary Ishwori Prasad Aryal of International Economic Cooperation Coordination Division under the Ministry of Finance and Tanaka Tomoko, senior representative of JICA Nepal, the Ministry of Finance said in a press statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Japan has been providing such scholarship grant to the Government of Nepal in a phase-wise manner. Under the first phase of the project, 80 civil servants have already completed their Master’s Degree and returned home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This grant will be utilized to administer the scholarship programme, including for payment of the university tuition fee, living allowances, settlement allowances, insurances and other basic allowances as well as supply of educational materials for 22 candidates (20 for Master’s degree and 2 for PhD degree) to pursue their degrees in various universities in Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The scholarship provides opportunity of pursuing two years’ Master’s degree and three years PhD courses to young Nepalese civil servants who are academically sound and are motivated to be engaged in Nepal’s socio economic development after completion of their study in Japan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15435', 'image' => '20220727011256_CKK-KTM-MinisterKarkia.jpg', 'article_date' => '2022-07-27 13:12:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15693', 'article_category_id' => '1', 'title' => 'Policy Intervention Needed to Minimize Impact of Nepal’s LDC Graduation on Pharmaceutical Industry', 'sub_title' => '', 'summary' => 'July 27: Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">July 27: </span></span><span style="font-size:13.5pt">Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Speaking at a workshop on ‘Preparedness of Nepal’s pharmaceutical sector in the face of LDC graduation,’ the experts discussed the challenges Nepali pharmaceutical industry will face in the context of new intellectual property regime after Nepal’s graduation from LDC.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">The workshop was jointly organized by South Asia Watch on Trade, Economics and Environment (SAWTEE) and Third World Network (TWN) in Kathmandu on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">They identified the major policy and institutional challenges for the optimal use of Trade Related Aspects on Intellectual Property Rights (TRIPS) flexibilities, and suggested way forward during the workshop, SAWTEE said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Inaugurating the programme, Dr Paras Kharel, executive director of SAWTEE, began by emphasizing the flexibilities that Nepal receives as an LDC and the preparedness of the pharmaceutical sector for the challenges it may encounter after 2026. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Posh Raj Pandey, chairperson of SAWTEE, presented the findings of the draft report “Preparedness of Nepal’s Pharmaceutical sector to cope with the challenges of the country’s LDC graduation” jointly prepared by SAWTEE and TWN. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Pandey suggested that Nepal could still avail different flexibilities even after the graduation, immediately during the transition phase and later as a developing countries too while strengthening the capacity of domestic pharmaceutical manufacturers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Prajwal Jung Pandey, president of the Association of Pharmaceutical Producers of Nepal (APPON), stated that the patent registration process for pharmaceutical companies in Nepal is complex and cumbersome. He mentioned that Nepal has not been able to effectively grab the benefits provided to LDCs. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Shiva Prasad Shrestha, senior vice president of Nepal Medical Association, lamented that Nepal’s pharmaceutical companies are limited to producing basic drugs rather than complex and life-saving drugs. He also stated that unless the government accords effective protection to domestic producers, Nepal’s pharmaceutical sector will have a difficult time surviving. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">KM Gopakumar, senior research and legal advisor to TWN, emphasized that an apt policy response is needed to minimize the impacts of LDC graduation on domestic producers and to ensure access to medicine in an affordable way. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">While the draft law on intellectual property is generally in the right direction, there are rooms for improvements. Likewise, he highlighted the roles that government could play in strengthening the pharmaceutical sector, for instance through providing incentives such as tax breaks in the use of IP flexibilities, favoring domestic producers in procurement policy, providing R&D funds, and by ensuring that patents apply only to inventions, and not to discoveries.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">In the closing remarks, Bharat Bhattarai, director general of the Department of Drug Administration, stated that the government has acknowledged the need for policy reforms in the pharmaceutical sector and the findings of the study has been successful in providing robust policy recommendations. Bhattarai stressed that a holistic approach is needed among stakeholders to invigorate the pharmaceutical sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">According to SAWTEE, the workshop was attended by policy makers, experts from the pharmaceutical sector, medical professionals, representatives from academia, activists and civil society members. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'drugs, medicine, pharmaceutical, industry, LDC, graduation, Nepal', 'description' => '', 'sortorder' => '15434', 'image' => '20220727112621_drugs.jpg', 'article_date' => '2022-07-27 11:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15692', 'article_category_id' => '1', 'title' => 'Nepal Imports Ash worth Rs 2.37 Billion in One Year', 'sub_title' => '', 'summary' => 'July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash. However, the ash that Nepal imports is not made from burning wood.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Customs, Nepal imports four different kinds of ashes and none of them are prepared from burning wood. The department informed that the country imported ashes worth Rs 2.37 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The imported ashes include residual copper, residue of other elements, and ashes prepared from urban waste and sea weeds. The ashes are mainly used as industrial raw materials. They are used to prepare copper utensils and other metal artefacts as well as cement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal is currently able to produce only the ash prepared from urban waste with HS Code 26211000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'ash, import, industrial, raw, material, residue, residual, copper', 'description' => '', 'sortorder' => '15433', 'image' => '20220727105920_ash.jpg', 'article_date' => '2022-07-27 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15691', 'article_category_id' => '1', 'title' => 'Hoteliers Start Hoarding Food for Gosaikunda Fair', 'sub_title' => '', 'summary' => 'July 26: Locals in Rasuwa have started transporting food to arrange meals for the devotees who reach the holy shrine of Gosaikunda for the Janai purnima fair on August 12. ', '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 26: Locals in Rasuwa have started transporting food to arrange meals for the devotees who reach the holy shrine of Gosaikunda for the Janai purnima fair on August 12. </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"">Pasang Gyalpo Tamang, a businessman of Lauri Binayak, shared that the local hoteliers have starting hoarding food after the Gosainkunda Area Development Committee estimated that 15,000 devotees would attend the religious fair of Gosainkunda on the occasion of Janai Purnima on August 12.</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 hoteliers, there are 67 permanently built hotels and lodges in nine places along the route to Gosainkunda, including 43 in Dhunche, two in Tiwari Bagar, two in Khanti, one in Deurali, two in Dimsa, seven in Chandanbari, two in Cholangpati, three in Lauri Binayak and four in Gosaikunda. </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"">Ramcharan Gajurel, district president of the Hotel Association of Rasuwa, informed that pilgrims visiting Gosainkund will not have any problem with food and accommodation.</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 the same time, the Gosainkunda Area Development Committee has said that if there is a problem with accommodation, temporary shelters will be arranged for the travellers.</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"">Foodstuffs are being transported by porters as well as mules and horses and it is said that about 50 sacks of rice have reached Gosainkunda. Stating that more rice and other materials are being transported, hotelier Tamang estimated that 150 sacks of rice will be consumed in Gosaikunda during the fair.</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"">Businessmen say that arrangements have been made to provide materials such as noodles, biscuits, beaten rice, water, cashew nuts and almonds from the hotel for the Gosaikunda fair. Due to Covid-19, local hotels that could not see the crowd of passengers for two years are eager to welcome the devotees 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"">Sanjeev DM, president of the Gosainkunda Area Development Committee, said that devotees will reach Gosainkunda on August 7 to observe the fair, which starts on the day of Putrada Ekadashi (the 11<sup>th</sup> day of the waxing moon) on August 8 and ends on the full moon day on August 12. </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 Langtang National Park has requested the devotees who came to perform the pilgrimage not to destroy the vegetation and not to throw garbage recklessly.</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><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><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><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><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' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15432', 'image' => '20220726031810_image_processing20220416-4-1helmts.jpg', 'article_date' => '2022-07-26 15:17:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15690', 'article_category_id' => '266', 'title' => 'Centurion Hotel Signs pact with Radisson to set up a Five-Star Hotel ', 'sub_title' => '', 'summary' => 'July 26: Centurion Hotel, a subsidiary of Century Group of Nepal, has signed an agreement with Radisson Hotel Group for establishing Radisson Biratnagar, an international upscale hotel in Province 1.', '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 26: Centurion Hotel, a subsidiary of Century Group of Nepal, has signed an agreement with Radisson Hotel Group for establishing Radisson Biratnagar, an international upscale hotel in Province 1. </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"">Moti Lal Dugar, chairman of Century Group and Zubin Saxena, Radisson's managing director and vice president of operations in South Asia, signed the agreement amid a press conference held at Hotel Radisson Kathmandu on July 25. </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 new hotel with 140 rooms will be spread is spread across an area of 10,000 square meters. The hotel will have a movie hall, banquet, mall, casino, swimming pool, and gymnasium, KFC, Pizza Hut. Likewise, it will have two banquets of 10000 sq feet in size, the largest in the country. The will be built next to Bhatbhateni Supermarket and will be close to the airport and the Indian border. </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"">“We are delighted to have Radisson as our partner after successfully starting our journey in the hospitality business with Harrison Palace,” said Moti Lal Dugar, chairman of Century Group of companies. </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"">Dugad added that Biratnagar is the second largest city in Nepal in terms of urban development and they are going to open a hotel targeting both external and internal tourists visiting Province 1.</span></span><strong> </strong></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"">“Province 1 has world-famous mountains and religious sites, and Biratnagar is an economic hub. The city hosts numerous big business houses in Nepal, so the hotel will add international standard services to all the guests,” Dugar added. </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"">Upaul Majumdar, consultant of the project shared that he appreciates the owners for setting up a hotel on such a big scale in Nepal after successfully operating Harrison Palace. </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"">“Hotel Radisson is an international chain hotel providing the best services. I am thankful to Dugar for introducing a global brand in Biratnagar. Likewise, I am very glad to be associated with bringing a global brand to Biratnagar. This will add a lot to the potential of tourism in Nepal. Likewise, the hotel will provide good jobs to Nepali youth,” he added. </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"">Likewise, Zubin Saxena shared that Radisson has had its presence in Nepal for more than 2 decades and during this time the economy and tourism of the country have grown. </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 see Nepal in the next two decades as a developed economy nation and Radisson will be focused on adding 10-15 new hotels in the next five years. The hotels will be situated in all major strategic points,” he shared.</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><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15431', 'image' => '20220726025326_1658789296.Clipboard07.jpg', 'article_date' => '2022-07-26 14:52:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15689', 'article_category_id' => '1', 'title' => 'Government Measures Fail to Curb Imports', 'sub_title' => '', 'summary' => 'July 26: Nepal’s trade deficit increased by 23 percent during the last fiscal year despite measures taken by the government to restrict imports.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: Nepal’s trade deficit increased by 23 percent during the last fiscal year despite measures taken by the government to restrict imports. </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 Department of Customs, Nepal’s trade deficit has climbed to Rs 1720 billion. </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"">As per the data released by the Department of Customs on Monday, Nepal imported goods worth more than Rs 1,920.44 billion from different countries during the review year.</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 government had taken measures to restrict imports since last winter after excessive imports resulted in a decline in foreign exchange reserves.</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"">Nepal Rastra Bank (NRB) introduced a provision on December 20, 2021 requiring 50 percent cash margin for the import of goods and products under 20 different harmonic codes. Almost a month and a half later, the central bank increased the number of goods requiring cash margin for LC before they could be imported into the country. In March, the central bank officials informally instructed the CEOs of commercial banks not to open LCs for importing personal vehicles and luxury goods. </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"">As such measures failed to discourage imports, the Ministry of Industry, Commerce and Supplies issued a notice in the Nepal Gazette on April 26 banning the imports of 10 items including two wheelers above 250 cc, private vehicles, playing cards, readymade liquor among others. The ban on import of those ten items has been extended until August 30.</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 country’s exports also increased significantly during the last fiscal year. However, it too failed to reduce the trade deficit because the size of exports was negligible compared to the size of imports.</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"">Nepal’s exports increased last year by 41.74 percent compared to the pervious fiscal year. The total exports during the review year stood at Rs 203 billion.</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"">A large amount of Nepali currency went out of the country in a period of one year for the import of petroleum products. The cost of purchasing fuel has increased due to price hike and increase in consumption. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Data released by the Department of Customs shows that Nepal imported petroleum products worth Rs 320.32 billion from India in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The largest amount has been spent on importing diesel in the review year. Nepal spent over Rs 168.23 billion in diesel import in the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Rs 71.38 billion was spent on importing petrol, Rs 65.55 billion on import of cooking gas (LPG) and Rs 15.15 billion on import of aviation fuel in the review period. </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"">Looking at the data of the last five years, imports seems to have doubled during this period.</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"">Nepal had imported goods worth Rs 984 billion in the fiscal year 2016/17, which increased to Rs 1920 during the last fiscal year.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => 'import, goods, measures,, government, Nepal', 'description' => '', 'sortorder' => '15430', 'image' => '20220726012409_Birgunj.jpg', 'article_date' => '2022-07-26 13:23:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15688', 'article_category_id' => '1', 'title' => 'MPs Doubt Kathmandu-Tarai Expressway will be Completed within December 2024', 'sub_title' => '', 'summary' => 'July 26: The completion of the Kathmandu-Tarai Expressway (Fast Track) project within the deadline remains doubtful.', '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 26: The completion of the Kathmandu-Tarai Expressway (Fast Track) project within the deadline remains doubtful. Stakeholders have said that the basis for the completion of the project within December 2024 is not achievable. </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"">They argue that the contract management of the 72.5 km long expressway undertaken by the Nepalese Army has been delayed.</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"">During a discussion held at the Development and Technology Committee of the House of Representatives on Monday, lawmakers expressed doubts about the completion of the expressway on time. </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"">They expressed doubt stating that the contract management has not been done as per the first phase of the work schedule for fiscal year 2021/22 while there has been problems in acquisition of land in Khokana</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"">However, the army has claimed that the project will be completed by December 2024.</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"">Defense Secretary Kiran Raj Sharma expressed his commitment that the work will be completed on time. He has sought help from the committee to acquire 427 ropanis of lands in Khokna, which is the starting point of the expressway. </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"">Chairperson of the committee, Kalyani Kumari Khadka, said that although the progress of the last fiscal year was encouraging, the overall progress of the project was slow. She said that even after five years since handing over the project to the army, the progress has been slow. </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 no credibility that the expressway will be completed by December 2024. Even if the stakeholders claim it is possible, the schedule shows a solid foundation has not been built," she 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"">She added that the government has been suggested to make special arrangements for the national pride project compared to other projects, but the government has not shown any interest to address this issue.</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"">Khadka instructed all concerned parties to take immediate steps to make a solid schedule for the current fiscal year to complete the project on time.</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"">During the discussion, CPN-UML MP Ganesh Pahadi said that the contract management should have been completed according to last year's schedule, but it has not been completed yet. He suggested that a third party should be formed separately to monitor the expressway. He said that there is a risk that the cost will increase due to the delay in contract management.</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, another MP from UML, Padma Kumari Aryal, sarcastically said that there will come a day when the expressway will be called a 'slow track.</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"">Democratic Samajwadi Party MP Anil Kumar Jha said that despite handing over the expressway to the army, the work has not been done as expected. </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><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><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><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> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => 'Fast, track, land, acquisition, Khokana, Nepalese, Army, contract, management', 'description' => '', 'sortorder' => '15429', 'image' => '20220726124807_fast track.jpg', 'article_date' => '2022-07-26 12:46:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15687', 'article_category_id' => '1', 'title' => 'General Public Expecting Price Hike in Next Three Months: Inflation Expectation Survey', 'sub_title' => '', 'summary' => 'July 26: Nepal Rastra Bank has released the results of Inflation Expectations Survey (IES) for the third quarter of the last fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 26: Nepal Rastra Bank has released the results of Inflation Expectations Survey (IES) for the third quarter of the last fiscal year (FY 2021/22). According to the central bank, the survey was conducted from April 7 to April 12, 2022 among individual respondents from 24 market areas of twenty-one cities through field interviews. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The results are based on responses from 930 urban individuals, with additional 210 individuals in this survey compared to the number of individuals included in the previous survey. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the survey 92.5 percent of respondents expect price level to increase in the next three months. Likewise, 97.1 percent of respondents expect price level to increase over the next one year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The share of respondents expecting price increases at more than current rate in next three months has slightly increased from mid-January, 2022, while the share of respondents expecting price increase at more than current rate over the next one year has slightly decreased, the report states. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Likewise, the share of respondents expecting price increase in next three months across the entire listed product groups except real estate (housing) has increased from mid-January, 2022. Similarly, the share of respondents expecting price increase in one year ahead across food products has increased, while it has declined across the other product groups- non-food and services and real estate (housing) from mid-January, 2022.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The median inflation expectation for three months and one year ahead have been higher compared to mid-January, 2022. Median inflation expectations for three months and one year ahead stand at 10 percent and 14 percent respectively. The current median inflation perception is 12 percent. This shows that households expect inflation to decrease in the near term and increase in the medium term, the central bank said.</span></span></p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15428', 'image' => '20220726121005_Inflation.jpg', 'article_date' => '2022-07-26 12:09:17', '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' => '15701', 'article_category_id' => '1', 'title' => 'PATA Nepal to Organise 'Nepal Sales Mission-2022' in Thailand ', 'sub_title' => '', 'summary' => 'July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. ', '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: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Sales Mission-2022 is going to be organised with the objective of helping the post COVID-19 tourism revival campaign. </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 PATA Nepal, 20 tourism entrepreneurs, affiliated with PATA Nepal, and professionals would participate in the mission going to be organised in collaboration with Nepal Airlines Corporation, Thai Travel Agents Association, SS Group Thailand and Jawalakhel Group of Industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, more than 40 stakeholders associated to the tourism sector including Thai Travel Agents and Tour Operators, media would also participate in the mission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s Ambassador to Thailand, Ganesh Prasad Dhakal, would be the chief guest of the Nepal Sales Mission where CEO of PATA International, Liz Ortiguera, would participate as the special guest and keynote speaker. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of PATA Nepal chapter, Bibhuti Chand Thakur, expressed the belief that the Nepal Sales Mission would be the best forum to promote tourism potential between Nepal and Thailand, with Gautam Buddha international Airport already in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepali delegation would also participate in the 'Sixth PATA Destination Marketing Forum' to be held in Thailand from August 2-4, reads a press statement issued by PATA Nepal on Wednesday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15442', 'image' => '20220728124411_PN-Nepal-Sales-Mission-2022-Thailand.jpg', 'article_date' => '2022-07-28 12:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15700', 'article_category_id' => '1', 'title' => 'Government to Adopt Trade Integration Strategy', 'sub_title' => '', 'summary' => 'July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. ', '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: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. The Ministry of Industry, Commerce and Supplies has initiated the process of taking suggestions from stakeholders to finalize the 'Nepal Trade Integration Strategy 2079'.</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"">While Nepal is preparing to be upgraded from underdeveloped to developing country in the next few years, the government is preparing an integrated strategy, considering opportunities and challenges. </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"">Such strategy is going to be formulated during the Fifteenth Development Plan (2077-2081) with the objective of building an independent and socialist-oriented economy.</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 preliminary strategy prepared by the government was discussed in Birgunj on Wednesday. The ministry said that the integrated strategy will be finalized after taking suggestions from stakeholders. The government prepared a draft of the strategy with the support of the European Union, Nepal Trade and Investment Program and the Investment Program Facility.</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"">An expert group led by former Finance Secretary Rameshwar Khanal prepared the draft of the strategy. Khanal informed that the strategy focuses on the issue of the impact on foreign trade and how to solve it when Nepal transitions to the list of developing countries.</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"">After Nepal's upgrade, there will be no significant difference in trade with India, says Khanal. Experts say that the main purpose of the strategy is to find solutions to challenges and opportunities in trade with the European Union and the United States. Currently, the ratio of gross domestic product (GDP) and foreign trade is 39.3 percent, and the target is to increase it to 55 percent.</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"">Khanal informed that the ratio of exports of goods and services to GDP is 6.61 percent and the goal is to increase it to 20 percent. The strategy also emphasizes on studying what goods are being imported by other countries and from where, in order to increase exports and the possibility of Nepal exporting such goods to those countries.</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 government is planning to strengthen economic diplomacy to increase exports. At present, diplomatic missions and ambassadors in various countries will be mobilized to attract export trade and investment.</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 government's policy is to build business-supporting infrastructure and strengthen food security. </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"">Pushpa Sharma, a member of the expert group, said that plans are being made to this end.</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"">Improving quality and industrial standards will also be emphasized. </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"">Another expert, Rojan Bajracharya, said that while modernizing the production process, import substitution and export enhancement will be carried out strategically.</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 Lath, president of Madhes Province chapter of FNCCI, said that the efficiency of the business strategy depends on its successful implementation. </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"">Subodh Kumar Gupta, president of Birganj Chamber of Commerce and Industry, Mohan Sharma, president of Jitpur-Simara Chamber of Commerce and Industry, leather industrialist Mohammad Junaid Iftkhan and others said that the business strategy should focus on reducing the cost of production. They claimed that unless the cost of domestic production is cheap, it cannot survive in the domestic market, let alone exports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15441', 'image' => '20220728124828_1658961573.Clipboard25.jpg', 'article_date' => '2022-07-28 12:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15699', 'article_category_id' => '1', 'title' => 'Nepal Imported 1,807 EVs during Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). ', '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: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the data unveiled by the Department of Customs, majority of EVs imported last year came from China. Altogether 823 such vehicles arrived here from China followed by 696 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 184 EVs were brought in Nepal from South Korea, 78 EVs were imported from Japan, 23 from the UK, one from France and the remaining from other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the EVs imported were of 100 kilowatt and 150-200 kilowatt in capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government in the budget of last fiscal year had announced concession in excise duty for the EVs following which encouraging number of EVs made its way to Nepal during last fiscal year compared to the previous fiscal year (FY 2020/21) during which only 261 EVs were imported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government collected over Rs 1.43 billion in revenue from the import of 1,807 EVs in the last fiscal year while over Rs 5 billion flew out of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15440', 'image' => '20220728075905_electricvehicle-1611985899.jpg', 'article_date' => '2022-07-28 07:58:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15698', 'article_category_id' => '1', 'title' => 'Industrialists Present their Problems before Industry Minister', 'sub_title' => '', 'summary' => 'July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During a meeting organized by the Morang Merchants Association, 76-year-old Agarwal told the minister either to correct the tax rates or tell them to jump in the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The iron industry, which I have been operating for 47 years, is now closed,” said Agarwal, adding that the government is punishing the industry without any fault.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Naveen Rijal, president of Morang Merchants Association, said that even though the people have established the system that the leaders wanted through the people’s movement, the politicians are failing to address their aspirations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While informing Minister Badu about the problems faced by the industrial sector due to Russia-Ukraine war, Rijal asked him to take diplomatic initiative for the operation of the Mirganj bridge. He said that the government should take the initiative to open trade with Bangladesh for the industrial development of eastern Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that due to the delay in operation of the Mirganj bridge, the price of every item is more by Rs 2 per kg as they have to travel 105 kilometers more to reach Sunsari's Bhantabari transit point. Rizal said that the government is not serious about the issue of GI wire, vegetable oil, and sanitary pads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pradeep Murarka, the acting president of the Chamber of Industry Morang, said that although India has completed all necessary processes to bring cargo train to the Integrated Check Post, the Nepali side has not done anything concrete to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhim Ghimire, president of Province chapter of the Confederation of Nepalese Industry, said that the interest of bank loans should be brought down to single digit, the insurance companies should stop carteling, and a special economic zone should be built on a PPP model on 600 bigha of land in Amduwa.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Another entrepreneur, Shankarlal Agarwal, demanded the government to implement its commitment. Tara Chand Khaitan, the former president of the Morang Merchants Association, demanded the revocation of the provision to renew the EXIM code to stop smuggling through the open border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hulas Wire’s Director Yukti Golcha, Union Vice President Bikas Begwani, Vice President Anil Sah, Gopal Aggarwal, Pawan Sharda, and Basudev Golyan informed the minister about the problems faced by the industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"For Nepali consumers, import can be substituted only by giving preference to Nepali products," Minister Badu said, adding, "The government itself will bring the sick industries back into operation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15439', 'image' => '20220727080824_1658875100.Clipboard19.jpg', 'article_date' => '2022-07-27 20:07:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15697', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Recovers CCTV Footage which is ‘Unclear’', 'sub_title' => '', 'summary' => 'July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.', '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 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.</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"">Nevertheless, the Parliamentary Special Investigation Committee discussed and analyzed the CCTV footage which it obtained with much difficulty. The committee also called experts from the Forensic Science Laboratory of the Nepal Police and held a discussion on Tuesday. According to sources, the footage of the night of May 2</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">8</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">, which was deleted from the CCTV, has been recovered but the scenes are not clear.</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"">After realizing that the CCTV footage is not clear, the committee called experts to discuss about it. In Tuesday's meeting, the committee members asked the experts about the degradation of the video quality. The sought explanation regarding the absence of date and inability to play 51 clips as a single video. According to one of the members of the investigation committee, the experts said it was due to technical reasons and too many system checks.</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"">Surendra Aryal, member secretary of the committee, said that the experts gave their opinion on the things that were not clear. In response to the question of what was seen on the CCTV, he said, “The CCTV showed what was supposed to be shown. Now everything will be included in the report.” According to Aryal, the committee will hold a meeting at 11 am on Wednesday and start writing the report. Aryal also said that the discussion will be continued and conclusion will be drawn based on not only CCTV footage but all other means of investigation as well. </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""> “CCTV is not the sole evidence. We have other tools as well to reach the truth Aryal 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""> According to sources, the CCTV footage was unable to give clear conclusion. There is a possibility that there may be differences of opinion among the committee members while writing the report. Sources claim that there may be differences between the MPs of the ruling parties and the opposition party UML regarding the conclusion. All the members of the committee agree that the deadline will not be extended again. The committee was initially given a deadline of 10 days, but later 7 days were extended. There are 2 days left for the extended deadline to expire.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15438', 'image' => '20220727050930_20220707122044_ROS_KTM-4187.jpg', 'article_date' => '2022-07-27 17:08:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15696', 'article_category_id' => '1', 'title' => 'Importers Express Concern over Ban on Import of Liquor', 'sub_title' => '', 'summary' => 'July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.', '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 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.</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 Nepal Liquor Importers Association held a press conference in the capital on Tuesday and said that the import of ready-made liquor will cost USD 15 per litre, but the same liquor when sold to foreigners in hotels, restaurants and bars can earn as much as USD 120 per litre.</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 importing liquor, an average of USD 15 is lost per litre. But when it is sold from hotels, restaurants and bars, it earns USD 120 per litre,” said Anil Kumar Agarwal, president of the association. </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"">Agarwal also presented the data that the import of ready-made liquor will result in an outflow of USD 1.2 million (Rs 1.5 billion) and the government will receive Rs 3.3 billion as revenue from it. He claimed that the government is encouraging illegal imports by banning the import of ready-made liquor. </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 Agarwal, the amount spent on the import of liquor is only 0.10 per cent of the total foreign exchange reserves spent on the import of various goods in a 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 government has banned the import of ready-made liquor since April 26. Due to the ban, the supply of foreign liquor from official channels has decreased, and fake goods of international brands have started to enter the market, according to the association.</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 general secretary of the association, Gaurav Sharda, accused the government for giving smugglers the favourable ground to import liquor illegally. According to him, alcohol is a high-taxed commodity, so there is a lot of profit in tax evasion, leading in increase of smuggling in the border areas.</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 when there was no ban on imports, we have seen that liquor was brought to Nepal from India by smugglers and sold," Sharda said adding.</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"">If one litre of liquor is imported by dogging the revenue, the profit is Rs 3,500. Last January, the police seized 216 cartons of foreign brand liquor illegally imported from India in Kapan, Baneshwar and other places in the 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"">Sharda asked the media to make news based on facts stating that wrong data is being propagated regarding the import of liquor. </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><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><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><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><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><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><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><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><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><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><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><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><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><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><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' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15437', 'image' => '20220727030007_liquor.jpg', 'article_date' => '2022-07-27 14:59:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15695', 'article_category_id' => '1', 'title' => 'Monetary Policy is Positive: CBFIN', 'sub_title' => '', 'summary' => 'July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive. ', 'content' => '<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""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive while acknowledging that the achievement of the set goals and implementation of some of the arrangements adopted by it to be challenging. The confederation stated that the monetary policy has tightened economic activities for the improvement of the current economic situation due to which the goals set by the monetary policy will be challenging to achieve.</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 confederation said that the monetary policy has adopted timely policies to maintain economic and financial stability and bring the declining economy back on track.</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"">CBFIN has appreciated the central bank for including suggestions such as classification of loans flowing from banks and financial institutions, maintaining different interest rates for loans going to the productive sector and trade, development of the productive sector and credit flow to the productive sector, special priority to export promotion in the monetary policy. Similarly, CBFIN said that the provision of discounts on various services such as remittances brought into the country through formal channels, and the necessary amendments to the Foreign Investment and Foreign Debt Management Regulations, 2078 are highly commendable.</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"">CBFIN expects that the existing arrangements related to remittances will be reviewed to widen the scope of remittances inflow into Nepal and bank accounts will be made mandatory for Nepalese going abroad to help improve foreign exchange reserves. Likewise, it also believes that the increase in access to credit for small, domestic, small and medium enterprises, the productive sector including agriculture, exports and the continuation of re-financing facility for the sectors most affected by the Covid-19 pandemic, and the system where bonds can be counted as deposits, will help in the promotion of the commercial sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15436', 'image' => '20220727022441_monetary policy.jpg', 'article_date' => '2022-07-27 14:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15694', 'article_category_id' => '1', 'title' => 'Government to Receive Grant of Rs 1.37 Billion for Drinking Water Project ', 'sub_title' => '', 'summary' => 'July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference at the Ministry of Communications and Information Technology on Tuesday to disclose the decisions of the cabinet meeting held on July 25, Communications Minister Gyanendra Bahadur Karki shared that the government whas decided to accept 10.5 million euros from the European Union for the drinking water project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to accept grant equivalent to Rs 950 million from the Swiss government for the implementation of quality technical and vocational education and training project in the first phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government also decided to form a high-level study and recommendation committee headed by the National Planning Commission (NPC) Vice-chair to furnish recommendation on immediate measures to be taken on management and reduction of import. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal will be receiving a grant assistance of Japanese yen 376 million (approximately Rs 350 million) from Japan for implementation of the Human Resource Development (JDS) Project in the year 2022/23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The both parties signed and exchanged the notes in this regard amidst a programme at the Ministry of Finance on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Madhu Kumar Marasini and Charge d’affaires ad interim of Japan to Nepal Tamura Takahiro signed the documents on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the same occasion, grant agreement to this effect was signed by joint-secretary Ishwori Prasad Aryal of International Economic Cooperation Coordination Division under the Ministry of Finance and Tanaka Tomoko, senior representative of JICA Nepal, the Ministry of Finance said in a press statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Japan has been providing such scholarship grant to the Government of Nepal in a phase-wise manner. Under the first phase of the project, 80 civil servants have already completed their Master’s Degree and returned home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This grant will be utilized to administer the scholarship programme, including for payment of the university tuition fee, living allowances, settlement allowances, insurances and other basic allowances as well as supply of educational materials for 22 candidates (20 for Master’s degree and 2 for PhD degree) to pursue their degrees in various universities in Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The scholarship provides opportunity of pursuing two years’ Master’s degree and three years PhD courses to young Nepalese civil servants who are academically sound and are motivated to be engaged in Nepal’s socio economic development after completion of their study in Japan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15435', 'image' => '20220727011256_CKK-KTM-MinisterKarkia.jpg', 'article_date' => '2022-07-27 13:12:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15693', 'article_category_id' => '1', 'title' => 'Policy Intervention Needed to Minimize Impact of Nepal’s LDC Graduation on Pharmaceutical Industry', 'sub_title' => '', 'summary' => 'July 27: Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">July 27: </span></span><span style="font-size:13.5pt">Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Speaking at a workshop on ‘Preparedness of Nepal’s pharmaceutical sector in the face of LDC graduation,’ the experts discussed the challenges Nepali pharmaceutical industry will face in the context of new intellectual property regime after Nepal’s graduation from LDC.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">The workshop was jointly organized by South Asia Watch on Trade, Economics and Environment (SAWTEE) and Third World Network (TWN) in Kathmandu on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">They identified the major policy and institutional challenges for the optimal use of Trade Related Aspects on Intellectual Property Rights (TRIPS) flexibilities, and suggested way forward during the workshop, SAWTEE said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Inaugurating the programme, Dr Paras Kharel, executive director of SAWTEE, began by emphasizing the flexibilities that Nepal receives as an LDC and the preparedness of the pharmaceutical sector for the challenges it may encounter after 2026. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Posh Raj Pandey, chairperson of SAWTEE, presented the findings of the draft report “Preparedness of Nepal’s Pharmaceutical sector to cope with the challenges of the country’s LDC graduation” jointly prepared by SAWTEE and TWN. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Pandey suggested that Nepal could still avail different flexibilities even after the graduation, immediately during the transition phase and later as a developing countries too while strengthening the capacity of domestic pharmaceutical manufacturers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Prajwal Jung Pandey, president of the Association of Pharmaceutical Producers of Nepal (APPON), stated that the patent registration process for pharmaceutical companies in Nepal is complex and cumbersome. He mentioned that Nepal has not been able to effectively grab the benefits provided to LDCs. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Shiva Prasad Shrestha, senior vice president of Nepal Medical Association, lamented that Nepal’s pharmaceutical companies are limited to producing basic drugs rather than complex and life-saving drugs. He also stated that unless the government accords effective protection to domestic producers, Nepal’s pharmaceutical sector will have a difficult time surviving. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">KM Gopakumar, senior research and legal advisor to TWN, emphasized that an apt policy response is needed to minimize the impacts of LDC graduation on domestic producers and to ensure access to medicine in an affordable way. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">While the draft law on intellectual property is generally in the right direction, there are rooms for improvements. Likewise, he highlighted the roles that government could play in strengthening the pharmaceutical sector, for instance through providing incentives such as tax breaks in the use of IP flexibilities, favoring domestic producers in procurement policy, providing R&D funds, and by ensuring that patents apply only to inventions, and not to discoveries.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">In the closing remarks, Bharat Bhattarai, director general of the Department of Drug Administration, stated that the government has acknowledged the need for policy reforms in the pharmaceutical sector and the findings of the study has been successful in providing robust policy recommendations. Bhattarai stressed that a holistic approach is needed among stakeholders to invigorate the pharmaceutical sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">According to SAWTEE, the workshop was attended by policy makers, experts from the pharmaceutical sector, medical professionals, representatives from academia, activists and civil society members. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'drugs, medicine, pharmaceutical, industry, LDC, graduation, Nepal', 'description' => '', 'sortorder' => '15434', 'image' => '20220727112621_drugs.jpg', 'article_date' => '2022-07-27 11:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15692', 'article_category_id' => '1', 'title' => 'Nepal Imports Ash worth Rs 2.37 Billion in One Year', 'sub_title' => '', 'summary' => 'July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash. However, the ash that Nepal imports is not made from burning wood.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Customs, Nepal imports four different kinds of ashes and none of them are prepared from burning wood. The department informed that the country imported ashes worth Rs 2.37 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The imported ashes include residual copper, residue of other elements, and ashes prepared from urban waste and sea weeds. The ashes are mainly used as industrial raw materials. They are used to prepare copper utensils and other metal artefacts as well as cement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal is currently able to produce only the ash prepared from urban waste with HS Code 26211000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'ash, import, industrial, raw, material, residue, residual, copper', 'description' => '', 'sortorder' => '15433', 'image' => '20220727105920_ash.jpg', 'article_date' => '2022-07-27 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15691', 'article_category_id' => '1', 'title' => 'Hoteliers Start Hoarding Food for Gosaikunda Fair', 'sub_title' => '', 'summary' => 'July 26: Locals in Rasuwa have started transporting food to arrange meals for the devotees who reach the holy shrine of Gosaikunda for the Janai purnima fair on August 12. ', '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 26: Locals in Rasuwa have started transporting food to arrange meals for the devotees who reach the holy shrine of Gosaikunda for the Janai purnima fair on August 12. </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"">Pasang Gyalpo Tamang, a businessman of Lauri Binayak, shared that the local hoteliers have starting hoarding food after the Gosainkunda Area Development Committee estimated that 15,000 devotees would attend the religious fair of Gosainkunda on the occasion of Janai Purnima on August 12.</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 hoteliers, there are 67 permanently built hotels and lodges in nine places along the route to Gosainkunda, including 43 in Dhunche, two in Tiwari Bagar, two in Khanti, one in Deurali, two in Dimsa, seven in Chandanbari, two in Cholangpati, three in Lauri Binayak and four in Gosaikunda. </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"">Ramcharan Gajurel, district president of the Hotel Association of Rasuwa, informed that pilgrims visiting Gosainkund will not have any problem with food and accommodation.</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 the same time, the Gosainkunda Area Development Committee has said that if there is a problem with accommodation, temporary shelters will be arranged for the travellers.</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"">Foodstuffs are being transported by porters as well as mules and horses and it is said that about 50 sacks of rice have reached Gosainkunda. Stating that more rice and other materials are being transported, hotelier Tamang estimated that 150 sacks of rice will be consumed in Gosaikunda during the fair.</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"">Businessmen say that arrangements have been made to provide materials such as noodles, biscuits, beaten rice, water, cashew nuts and almonds from the hotel for the Gosaikunda fair. Due to Covid-19, local hotels that could not see the crowd of passengers for two years are eager to welcome the devotees 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"">Sanjeev DM, president of the Gosainkunda Area Development Committee, said that devotees will reach Gosainkunda on August 7 to observe the fair, which starts on the day of Putrada Ekadashi (the 11<sup>th</sup> day of the waxing moon) on August 8 and ends on the full moon day on August 12. </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 Langtang National Park has requested the devotees who came to perform the pilgrimage not to destroy the vegetation and not to throw garbage recklessly.</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><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><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><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><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' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15432', 'image' => '20220726031810_image_processing20220416-4-1helmts.jpg', 'article_date' => '2022-07-26 15:17:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15690', 'article_category_id' => '266', 'title' => 'Centurion Hotel Signs pact with Radisson to set up a Five-Star Hotel ', 'sub_title' => '', 'summary' => 'July 26: Centurion Hotel, a subsidiary of Century Group of Nepal, has signed an agreement with Radisson Hotel Group for establishing Radisson Biratnagar, an international upscale hotel in Province 1.', '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 26: Centurion Hotel, a subsidiary of Century Group of Nepal, has signed an agreement with Radisson Hotel Group for establishing Radisson Biratnagar, an international upscale hotel in Province 1. </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"">Moti Lal Dugar, chairman of Century Group and Zubin Saxena, Radisson's managing director and vice president of operations in South Asia, signed the agreement amid a press conference held at Hotel Radisson Kathmandu on July 25. </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 new hotel with 140 rooms will be spread is spread across an area of 10,000 square meters. The hotel will have a movie hall, banquet, mall, casino, swimming pool, and gymnasium, KFC, Pizza Hut. Likewise, it will have two banquets of 10000 sq feet in size, the largest in the country. The will be built next to Bhatbhateni Supermarket and will be close to the airport and the Indian border. </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"">“We are delighted to have Radisson as our partner after successfully starting our journey in the hospitality business with Harrison Palace,” said Moti Lal Dugar, chairman of Century Group of companies. </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"">Dugad added that Biratnagar is the second largest city in Nepal in terms of urban development and they are going to open a hotel targeting both external and internal tourists visiting Province 1.</span></span><strong> </strong></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"">“Province 1 has world-famous mountains and religious sites, and Biratnagar is an economic hub. The city hosts numerous big business houses in Nepal, so the hotel will add international standard services to all the guests,” Dugar added. </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"">Upaul Majumdar, consultant of the project shared that he appreciates the owners for setting up a hotel on such a big scale in Nepal after successfully operating Harrison Palace. </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"">“Hotel Radisson is an international chain hotel providing the best services. I am thankful to Dugar for introducing a global brand in Biratnagar. Likewise, I am very glad to be associated with bringing a global brand to Biratnagar. This will add a lot to the potential of tourism in Nepal. Likewise, the hotel will provide good jobs to Nepali youth,” he added. </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"">Likewise, Zubin Saxena shared that Radisson has had its presence in Nepal for more than 2 decades and during this time the economy and tourism of the country have grown. </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 see Nepal in the next two decades as a developed economy nation and Radisson will be focused on adding 10-15 new hotels in the next five years. The hotels will be situated in all major strategic points,” he shared.</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><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15431', 'image' => '20220726025326_1658789296.Clipboard07.jpg', 'article_date' => '2022-07-26 14:52:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15689', 'article_category_id' => '1', 'title' => 'Government Measures Fail to Curb Imports', 'sub_title' => '', 'summary' => 'July 26: Nepal’s trade deficit increased by 23 percent during the last fiscal year despite measures taken by the government to restrict imports.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: Nepal’s trade deficit increased by 23 percent during the last fiscal year despite measures taken by the government to restrict imports. </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 Department of Customs, Nepal’s trade deficit has climbed to Rs 1720 billion. </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"">As per the data released by the Department of Customs on Monday, Nepal imported goods worth more than Rs 1,920.44 billion from different countries during the review year.</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 government had taken measures to restrict imports since last winter after excessive imports resulted in a decline in foreign exchange reserves.</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"">Nepal Rastra Bank (NRB) introduced a provision on December 20, 2021 requiring 50 percent cash margin for the import of goods and products under 20 different harmonic codes. Almost a month and a half later, the central bank increased the number of goods requiring cash margin for LC before they could be imported into the country. In March, the central bank officials informally instructed the CEOs of commercial banks not to open LCs for importing personal vehicles and luxury goods. </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"">As such measures failed to discourage imports, the Ministry of Industry, Commerce and Supplies issued a notice in the Nepal Gazette on April 26 banning the imports of 10 items including two wheelers above 250 cc, private vehicles, playing cards, readymade liquor among others. The ban on import of those ten items has been extended until August 30.</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 country’s exports also increased significantly during the last fiscal year. However, it too failed to reduce the trade deficit because the size of exports was negligible compared to the size of imports.</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"">Nepal’s exports increased last year by 41.74 percent compared to the pervious fiscal year. The total exports during the review year stood at Rs 203 billion.</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"">A large amount of Nepali currency went out of the country in a period of one year for the import of petroleum products. The cost of purchasing fuel has increased due to price hike and increase in consumption. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Data released by the Department of Customs shows that Nepal imported petroleum products worth Rs 320.32 billion from India in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The largest amount has been spent on importing diesel in the review year. Nepal spent over Rs 168.23 billion in diesel import in the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Rs 71.38 billion was spent on importing petrol, Rs 65.55 billion on import of cooking gas (LPG) and Rs 15.15 billion on import of aviation fuel in the review period. </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"">Looking at the data of the last five years, imports seems to have doubled during this period.</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"">Nepal had imported goods worth Rs 984 billion in the fiscal year 2016/17, which increased to Rs 1920 during the last fiscal year.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => 'import, goods, measures,, government, Nepal', 'description' => '', 'sortorder' => '15430', 'image' => '20220726012409_Birgunj.jpg', 'article_date' => '2022-07-26 13:23:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15688', 'article_category_id' => '1', 'title' => 'MPs Doubt Kathmandu-Tarai Expressway will be Completed within December 2024', 'sub_title' => '', 'summary' => 'July 26: The completion of the Kathmandu-Tarai Expressway (Fast Track) project within the deadline remains doubtful.', '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 26: The completion of the Kathmandu-Tarai Expressway (Fast Track) project within the deadline remains doubtful. Stakeholders have said that the basis for the completion of the project within December 2024 is not achievable. </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"">They argue that the contract management of the 72.5 km long expressway undertaken by the Nepalese Army has been delayed.</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"">During a discussion held at the Development and Technology Committee of the House of Representatives on Monday, lawmakers expressed doubts about the completion of the expressway on time. </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"">They expressed doubt stating that the contract management has not been done as per the first phase of the work schedule for fiscal year 2021/22 while there has been problems in acquisition of land in Khokana</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"">However, the army has claimed that the project will be completed by December 2024.</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"">Defense Secretary Kiran Raj Sharma expressed his commitment that the work will be completed on time. He has sought help from the committee to acquire 427 ropanis of lands in Khokna, which is the starting point of the expressway. </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"">Chairperson of the committee, Kalyani Kumari Khadka, said that although the progress of the last fiscal year was encouraging, the overall progress of the project was slow. She said that even after five years since handing over the project to the army, the progress has been slow. </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 no credibility that the expressway will be completed by December 2024. Even if the stakeholders claim it is possible, the schedule shows a solid foundation has not been built," she 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"">She added that the government has been suggested to make special arrangements for the national pride project compared to other projects, but the government has not shown any interest to address this issue.</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"">Khadka instructed all concerned parties to take immediate steps to make a solid schedule for the current fiscal year to complete the project on time.</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"">During the discussion, CPN-UML MP Ganesh Pahadi said that the contract management should have been completed according to last year's schedule, but it has not been completed yet. He suggested that a third party should be formed separately to monitor the expressway. He said that there is a risk that the cost will increase due to the delay in contract management.</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, another MP from UML, Padma Kumari Aryal, sarcastically said that there will come a day when the expressway will be called a 'slow track.</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"">Democratic Samajwadi Party MP Anil Kumar Jha said that despite handing over the expressway to the army, the work has not been done as expected. </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><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><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><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> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => 'Fast, track, land, acquisition, Khokana, Nepalese, Army, contract, management', 'description' => '', 'sortorder' => '15429', 'image' => '20220726124807_fast track.jpg', 'article_date' => '2022-07-26 12:46:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15687', 'article_category_id' => '1', 'title' => 'General Public Expecting Price Hike in Next Three Months: Inflation Expectation Survey', 'sub_title' => '', 'summary' => 'July 26: Nepal Rastra Bank has released the results of Inflation Expectations Survey (IES) for the third quarter of the last fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 26: Nepal Rastra Bank has released the results of Inflation Expectations Survey (IES) for the third quarter of the last fiscal year (FY 2021/22). According to the central bank, the survey was conducted from April 7 to April 12, 2022 among individual respondents from 24 market areas of twenty-one cities through field interviews. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The results are based on responses from 930 urban individuals, with additional 210 individuals in this survey compared to the number of individuals included in the previous survey. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the survey 92.5 percent of respondents expect price level to increase in the next three months. Likewise, 97.1 percent of respondents expect price level to increase over the next one year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The share of respondents expecting price increases at more than current rate in next three months has slightly increased from mid-January, 2022, while the share of respondents expecting price increase at more than current rate over the next one year has slightly decreased, the report states. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Likewise, the share of respondents expecting price increase in next three months across the entire listed product groups except real estate (housing) has increased from mid-January, 2022. Similarly, the share of respondents expecting price increase in one year ahead across food products has increased, while it has declined across the other product groups- non-food and services and real estate (housing) from mid-January, 2022.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The median inflation expectation for three months and one year ahead have been higher compared to mid-January, 2022. Median inflation expectations for three months and one year ahead stand at 10 percent and 14 percent respectively. The current median inflation perception is 12 percent. This shows that households expect inflation to decrease in the near term and increase in the medium term, the central bank said.</span></span></p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15428', 'image' => '20220726121005_Inflation.jpg', 'article_date' => '2022-07-26 12:09:17', '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' => '15701', 'article_category_id' => '1', 'title' => 'PATA Nepal to Organise 'Nepal Sales Mission-2022' in Thailand ', 'sub_title' => '', 'summary' => 'July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. ', '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: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Sales Mission-2022 is going to be organised with the objective of helping the post COVID-19 tourism revival campaign. </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 PATA Nepal, 20 tourism entrepreneurs, affiliated with PATA Nepal, and professionals would participate in the mission going to be organised in collaboration with Nepal Airlines Corporation, Thai Travel Agents Association, SS Group Thailand and Jawalakhel Group of Industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, more than 40 stakeholders associated to the tourism sector including Thai Travel Agents and Tour Operators, media would also participate in the mission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s Ambassador to Thailand, Ganesh Prasad Dhakal, would be the chief guest of the Nepal Sales Mission where CEO of PATA International, Liz Ortiguera, would participate as the special guest and keynote speaker. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of PATA Nepal chapter, Bibhuti Chand Thakur, expressed the belief that the Nepal Sales Mission would be the best forum to promote tourism potential between Nepal and Thailand, with Gautam Buddha international Airport already in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepali delegation would also participate in the 'Sixth PATA Destination Marketing Forum' to be held in Thailand from August 2-4, reads a press statement issued by PATA Nepal on Wednesday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15442', 'image' => '20220728124411_PN-Nepal-Sales-Mission-2022-Thailand.jpg', 'article_date' => '2022-07-28 12:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15700', 'article_category_id' => '1', 'title' => 'Government to Adopt Trade Integration Strategy', 'sub_title' => '', 'summary' => 'July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. ', '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: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. The Ministry of Industry, Commerce and Supplies has initiated the process of taking suggestions from stakeholders to finalize the 'Nepal Trade Integration Strategy 2079'.</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"">While Nepal is preparing to be upgraded from underdeveloped to developing country in the next few years, the government is preparing an integrated strategy, considering opportunities and challenges. </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"">Such strategy is going to be formulated during the Fifteenth Development Plan (2077-2081) with the objective of building an independent and socialist-oriented economy.</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 preliminary strategy prepared by the government was discussed in Birgunj on Wednesday. The ministry said that the integrated strategy will be finalized after taking suggestions from stakeholders. The government prepared a draft of the strategy with the support of the European Union, Nepal Trade and Investment Program and the Investment Program Facility.</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"">An expert group led by former Finance Secretary Rameshwar Khanal prepared the draft of the strategy. Khanal informed that the strategy focuses on the issue of the impact on foreign trade and how to solve it when Nepal transitions to the list of developing countries.</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"">After Nepal's upgrade, there will be no significant difference in trade with India, says Khanal. Experts say that the main purpose of the strategy is to find solutions to challenges and opportunities in trade with the European Union and the United States. Currently, the ratio of gross domestic product (GDP) and foreign trade is 39.3 percent, and the target is to increase it to 55 percent.</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"">Khanal informed that the ratio of exports of goods and services to GDP is 6.61 percent and the goal is to increase it to 20 percent. The strategy also emphasizes on studying what goods are being imported by other countries and from where, in order to increase exports and the possibility of Nepal exporting such goods to those countries.</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 government is planning to strengthen economic diplomacy to increase exports. At present, diplomatic missions and ambassadors in various countries will be mobilized to attract export trade and investment.</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 government's policy is to build business-supporting infrastructure and strengthen food security. </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"">Pushpa Sharma, a member of the expert group, said that plans are being made to this end.</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"">Improving quality and industrial standards will also be emphasized. </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"">Another expert, Rojan Bajracharya, said that while modernizing the production process, import substitution and export enhancement will be carried out strategically.</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 Lath, president of Madhes Province chapter of FNCCI, said that the efficiency of the business strategy depends on its successful implementation. </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"">Subodh Kumar Gupta, president of Birganj Chamber of Commerce and Industry, Mohan Sharma, president of Jitpur-Simara Chamber of Commerce and Industry, leather industrialist Mohammad Junaid Iftkhan and others said that the business strategy should focus on reducing the cost of production. They claimed that unless the cost of domestic production is cheap, it cannot survive in the domestic market, let alone exports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15441', 'image' => '20220728124828_1658961573.Clipboard25.jpg', 'article_date' => '2022-07-28 12:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15699', 'article_category_id' => '1', 'title' => 'Nepal Imported 1,807 EVs during Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). ', '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: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the data unveiled by the Department of Customs, majority of EVs imported last year came from China. Altogether 823 such vehicles arrived here from China followed by 696 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 184 EVs were brought in Nepal from South Korea, 78 EVs were imported from Japan, 23 from the UK, one from France and the remaining from other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the EVs imported were of 100 kilowatt and 150-200 kilowatt in capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government in the budget of last fiscal year had announced concession in excise duty for the EVs following which encouraging number of EVs made its way to Nepal during last fiscal year compared to the previous fiscal year (FY 2020/21) during which only 261 EVs were imported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government collected over Rs 1.43 billion in revenue from the import of 1,807 EVs in the last fiscal year while over Rs 5 billion flew out of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15440', 'image' => '20220728075905_electricvehicle-1611985899.jpg', 'article_date' => '2022-07-28 07:58:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15698', 'article_category_id' => '1', 'title' => 'Industrialists Present their Problems before Industry Minister', 'sub_title' => '', 'summary' => 'July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During a meeting organized by the Morang Merchants Association, 76-year-old Agarwal told the minister either to correct the tax rates or tell them to jump in the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The iron industry, which I have been operating for 47 years, is now closed,” said Agarwal, adding that the government is punishing the industry without any fault.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Naveen Rijal, president of Morang Merchants Association, said that even though the people have established the system that the leaders wanted through the people’s movement, the politicians are failing to address their aspirations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While informing Minister Badu about the problems faced by the industrial sector due to Russia-Ukraine war, Rijal asked him to take diplomatic initiative for the operation of the Mirganj bridge. He said that the government should take the initiative to open trade with Bangladesh for the industrial development of eastern Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that due to the delay in operation of the Mirganj bridge, the price of every item is more by Rs 2 per kg as they have to travel 105 kilometers more to reach Sunsari's Bhantabari transit point. Rizal said that the government is not serious about the issue of GI wire, vegetable oil, and sanitary pads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pradeep Murarka, the acting president of the Chamber of Industry Morang, said that although India has completed all necessary processes to bring cargo train to the Integrated Check Post, the Nepali side has not done anything concrete to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhim Ghimire, president of Province chapter of the Confederation of Nepalese Industry, said that the interest of bank loans should be brought down to single digit, the insurance companies should stop carteling, and a special economic zone should be built on a PPP model on 600 bigha of land in Amduwa.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Another entrepreneur, Shankarlal Agarwal, demanded the government to implement its commitment. Tara Chand Khaitan, the former president of the Morang Merchants Association, demanded the revocation of the provision to renew the EXIM code to stop smuggling through the open border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hulas Wire’s Director Yukti Golcha, Union Vice President Bikas Begwani, Vice President Anil Sah, Gopal Aggarwal, Pawan Sharda, and Basudev Golyan informed the minister about the problems faced by the industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"For Nepali consumers, import can be substituted only by giving preference to Nepali products," Minister Badu said, adding, "The government itself will bring the sick industries back into operation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15439', 'image' => '20220727080824_1658875100.Clipboard19.jpg', 'article_date' => '2022-07-27 20:07:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15697', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Recovers CCTV Footage which is ‘Unclear’', 'sub_title' => '', 'summary' => 'July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.', '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 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.</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"">Nevertheless, the Parliamentary Special Investigation Committee discussed and analyzed the CCTV footage which it obtained with much difficulty. The committee also called experts from the Forensic Science Laboratory of the Nepal Police and held a discussion on Tuesday. According to sources, the footage of the night of May 2</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">8</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">, which was deleted from the CCTV, has been recovered but the scenes are not clear.</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"">After realizing that the CCTV footage is not clear, the committee called experts to discuss about it. In Tuesday's meeting, the committee members asked the experts about the degradation of the video quality. The sought explanation regarding the absence of date and inability to play 51 clips as a single video. According to one of the members of the investigation committee, the experts said it was due to technical reasons and too many system checks.</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"">Surendra Aryal, member secretary of the committee, said that the experts gave their opinion on the things that were not clear. In response to the question of what was seen on the CCTV, he said, “The CCTV showed what was supposed to be shown. Now everything will be included in the report.” According to Aryal, the committee will hold a meeting at 11 am on Wednesday and start writing the report. Aryal also said that the discussion will be continued and conclusion will be drawn based on not only CCTV footage but all other means of investigation as well. </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""> “CCTV is not the sole evidence. We have other tools as well to reach the truth Aryal 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""> According to sources, the CCTV footage was unable to give clear conclusion. There is a possibility that there may be differences of opinion among the committee members while writing the report. Sources claim that there may be differences between the MPs of the ruling parties and the opposition party UML regarding the conclusion. All the members of the committee agree that the deadline will not be extended again. The committee was initially given a deadline of 10 days, but later 7 days were extended. There are 2 days left for the extended deadline to expire.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15438', 'image' => '20220727050930_20220707122044_ROS_KTM-4187.jpg', 'article_date' => '2022-07-27 17:08:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15696', 'article_category_id' => '1', 'title' => 'Importers Express Concern over Ban on Import of Liquor', 'sub_title' => '', 'summary' => 'July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.', '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 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.</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 Nepal Liquor Importers Association held a press conference in the capital on Tuesday and said that the import of ready-made liquor will cost USD 15 per litre, but the same liquor when sold to foreigners in hotels, restaurants and bars can earn as much as USD 120 per litre.</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 importing liquor, an average of USD 15 is lost per litre. But when it is sold from hotels, restaurants and bars, it earns USD 120 per litre,” said Anil Kumar Agarwal, president of the association. </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"">Agarwal also presented the data that the import of ready-made liquor will result in an outflow of USD 1.2 million (Rs 1.5 billion) and the government will receive Rs 3.3 billion as revenue from it. He claimed that the government is encouraging illegal imports by banning the import of ready-made liquor. </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 Agarwal, the amount spent on the import of liquor is only 0.10 per cent of the total foreign exchange reserves spent on the import of various goods in a 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 government has banned the import of ready-made liquor since April 26. Due to the ban, the supply of foreign liquor from official channels has decreased, and fake goods of international brands have started to enter the market, according to the association.</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 general secretary of the association, Gaurav Sharda, accused the government for giving smugglers the favourable ground to import liquor illegally. According to him, alcohol is a high-taxed commodity, so there is a lot of profit in tax evasion, leading in increase of smuggling in the border areas.</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 when there was no ban on imports, we have seen that liquor was brought to Nepal from India by smugglers and sold," Sharda said adding.</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"">If one litre of liquor is imported by dogging the revenue, the profit is Rs 3,500. Last January, the police seized 216 cartons of foreign brand liquor illegally imported from India in Kapan, Baneshwar and other places in the 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"">Sharda asked the media to make news based on facts stating that wrong data is being propagated regarding the import of liquor. </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><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><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><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><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><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><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><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><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><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><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><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><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><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><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' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15437', 'image' => '20220727030007_liquor.jpg', 'article_date' => '2022-07-27 14:59:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15695', 'article_category_id' => '1', 'title' => 'Monetary Policy is Positive: CBFIN', 'sub_title' => '', 'summary' => 'July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive. ', 'content' => '<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""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive while acknowledging that the achievement of the set goals and implementation of some of the arrangements adopted by it to be challenging. The confederation stated that the monetary policy has tightened economic activities for the improvement of the current economic situation due to which the goals set by the monetary policy will be challenging to achieve.</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 confederation said that the monetary policy has adopted timely policies to maintain economic and financial stability and bring the declining economy back on track.</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"">CBFIN has appreciated the central bank for including suggestions such as classification of loans flowing from banks and financial institutions, maintaining different interest rates for loans going to the productive sector and trade, development of the productive sector and credit flow to the productive sector, special priority to export promotion in the monetary policy. Similarly, CBFIN said that the provision of discounts on various services such as remittances brought into the country through formal channels, and the necessary amendments to the Foreign Investment and Foreign Debt Management Regulations, 2078 are highly commendable.</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"">CBFIN expects that the existing arrangements related to remittances will be reviewed to widen the scope of remittances inflow into Nepal and bank accounts will be made mandatory for Nepalese going abroad to help improve foreign exchange reserves. Likewise, it also believes that the increase in access to credit for small, domestic, small and medium enterprises, the productive sector including agriculture, exports and the continuation of re-financing facility for the sectors most affected by the Covid-19 pandemic, and the system where bonds can be counted as deposits, will help in the promotion of the commercial sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15436', 'image' => '20220727022441_monetary policy.jpg', 'article_date' => '2022-07-27 14:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15694', 'article_category_id' => '1', 'title' => 'Government to Receive Grant of Rs 1.37 Billion for Drinking Water Project ', 'sub_title' => '', 'summary' => 'July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference at the Ministry of Communications and Information Technology on Tuesday to disclose the decisions of the cabinet meeting held on July 25, Communications Minister Gyanendra Bahadur Karki shared that the government whas decided to accept 10.5 million euros from the European Union for the drinking water project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to accept grant equivalent to Rs 950 million from the Swiss government for the implementation of quality technical and vocational education and training project in the first phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government also decided to form a high-level study and recommendation committee headed by the National Planning Commission (NPC) Vice-chair to furnish recommendation on immediate measures to be taken on management and reduction of import. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal will be receiving a grant assistance of Japanese yen 376 million (approximately Rs 350 million) from Japan for implementation of the Human Resource Development (JDS) Project in the year 2022/23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The both parties signed and exchanged the notes in this regard amidst a programme at the Ministry of Finance on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Madhu Kumar Marasini and Charge d’affaires ad interim of Japan to Nepal Tamura Takahiro signed the documents on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the same occasion, grant agreement to this effect was signed by joint-secretary Ishwori Prasad Aryal of International Economic Cooperation Coordination Division under the Ministry of Finance and Tanaka Tomoko, senior representative of JICA Nepal, the Ministry of Finance said in a press statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Japan has been providing such scholarship grant to the Government of Nepal in a phase-wise manner. Under the first phase of the project, 80 civil servants have already completed their Master’s Degree and returned home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This grant will be utilized to administer the scholarship programme, including for payment of the university tuition fee, living allowances, settlement allowances, insurances and other basic allowances as well as supply of educational materials for 22 candidates (20 for Master’s degree and 2 for PhD degree) to pursue their degrees in various universities in Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The scholarship provides opportunity of pursuing two years’ Master’s degree and three years PhD courses to young Nepalese civil servants who are academically sound and are motivated to be engaged in Nepal’s socio economic development after completion of their study in Japan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15435', 'image' => '20220727011256_CKK-KTM-MinisterKarkia.jpg', 'article_date' => '2022-07-27 13:12:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15693', 'article_category_id' => '1', 'title' => 'Policy Intervention Needed to Minimize Impact of Nepal’s LDC Graduation on Pharmaceutical Industry', 'sub_title' => '', 'summary' => 'July 27: Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">July 27: </span></span><span style="font-size:13.5pt">Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Speaking at a workshop on ‘Preparedness of Nepal’s pharmaceutical sector in the face of LDC graduation,’ the experts discussed the challenges Nepali pharmaceutical industry will face in the context of new intellectual property regime after Nepal’s graduation from LDC.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">The workshop was jointly organized by South Asia Watch on Trade, Economics and Environment (SAWTEE) and Third World Network (TWN) in Kathmandu on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">They identified the major policy and institutional challenges for the optimal use of Trade Related Aspects on Intellectual Property Rights (TRIPS) flexibilities, and suggested way forward during the workshop, SAWTEE said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Inaugurating the programme, Dr Paras Kharel, executive director of SAWTEE, began by emphasizing the flexibilities that Nepal receives as an LDC and the preparedness of the pharmaceutical sector for the challenges it may encounter after 2026. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Posh Raj Pandey, chairperson of SAWTEE, presented the findings of the draft report “Preparedness of Nepal’s Pharmaceutical sector to cope with the challenges of the country’s LDC graduation” jointly prepared by SAWTEE and TWN. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Pandey suggested that Nepal could still avail different flexibilities even after the graduation, immediately during the transition phase and later as a developing countries too while strengthening the capacity of domestic pharmaceutical manufacturers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Prajwal Jung Pandey, president of the Association of Pharmaceutical Producers of Nepal (APPON), stated that the patent registration process for pharmaceutical companies in Nepal is complex and cumbersome. He mentioned that Nepal has not been able to effectively grab the benefits provided to LDCs. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Shiva Prasad Shrestha, senior vice president of Nepal Medical Association, lamented that Nepal’s pharmaceutical companies are limited to producing basic drugs rather than complex and life-saving drugs. He also stated that unless the government accords effective protection to domestic producers, Nepal’s pharmaceutical sector will have a difficult time surviving. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">KM Gopakumar, senior research and legal advisor to TWN, emphasized that an apt policy response is needed to minimize the impacts of LDC graduation on domestic producers and to ensure access to medicine in an affordable way. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">While the draft law on intellectual property is generally in the right direction, there are rooms for improvements. Likewise, he highlighted the roles that government could play in strengthening the pharmaceutical sector, for instance through providing incentives such as tax breaks in the use of IP flexibilities, favoring domestic producers in procurement policy, providing R&D funds, and by ensuring that patents apply only to inventions, and not to discoveries.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">In the closing remarks, Bharat Bhattarai, director general of the Department of Drug Administration, stated that the government has acknowledged the need for policy reforms in the pharmaceutical sector and the findings of the study has been successful in providing robust policy recommendations. Bhattarai stressed that a holistic approach is needed among stakeholders to invigorate the pharmaceutical sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">According to SAWTEE, the workshop was attended by policy makers, experts from the pharmaceutical sector, medical professionals, representatives from academia, activists and civil society members. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'drugs, medicine, pharmaceutical, industry, LDC, graduation, Nepal', 'description' => '', 'sortorder' => '15434', 'image' => '20220727112621_drugs.jpg', 'article_date' => '2022-07-27 11:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15692', 'article_category_id' => '1', 'title' => 'Nepal Imports Ash worth Rs 2.37 Billion in One Year', 'sub_title' => '', 'summary' => 'July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash. However, the ash that Nepal imports is not made from burning wood.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Customs, Nepal imports four different kinds of ashes and none of them are prepared from burning wood. The department informed that the country imported ashes worth Rs 2.37 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The imported ashes include residual copper, residue of other elements, and ashes prepared from urban waste and sea weeds. The ashes are mainly used as industrial raw materials. They are used to prepare copper utensils and other metal artefacts as well as cement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal is currently able to produce only the ash prepared from urban waste with HS Code 26211000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'ash, import, industrial, raw, material, residue, residual, copper', 'description' => '', 'sortorder' => '15433', 'image' => '20220727105920_ash.jpg', 'article_date' => '2022-07-27 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15691', 'article_category_id' => '1', 'title' => 'Hoteliers Start Hoarding Food for Gosaikunda Fair', 'sub_title' => '', 'summary' => 'July 26: Locals in Rasuwa have started transporting food to arrange meals for the devotees who reach the holy shrine of Gosaikunda for the Janai purnima fair on August 12. ', '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 26: Locals in Rasuwa have started transporting food to arrange meals for the devotees who reach the holy shrine of Gosaikunda for the Janai purnima fair on August 12. </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"">Pasang Gyalpo Tamang, a businessman of Lauri Binayak, shared that the local hoteliers have starting hoarding food after the Gosainkunda Area Development Committee estimated that 15,000 devotees would attend the religious fair of Gosainkunda on the occasion of Janai Purnima on August 12.</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 hoteliers, there are 67 permanently built hotels and lodges in nine places along the route to Gosainkunda, including 43 in Dhunche, two in Tiwari Bagar, two in Khanti, one in Deurali, two in Dimsa, seven in Chandanbari, two in Cholangpati, three in Lauri Binayak and four in Gosaikunda. </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"">Ramcharan Gajurel, district president of the Hotel Association of Rasuwa, informed that pilgrims visiting Gosainkund will not have any problem with food and accommodation.</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 the same time, the Gosainkunda Area Development Committee has said that if there is a problem with accommodation, temporary shelters will be arranged for the travellers.</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"">Foodstuffs are being transported by porters as well as mules and horses and it is said that about 50 sacks of rice have reached Gosainkunda. Stating that more rice and other materials are being transported, hotelier Tamang estimated that 150 sacks of rice will be consumed in Gosaikunda during the fair.</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"">Businessmen say that arrangements have been made to provide materials such as noodles, biscuits, beaten rice, water, cashew nuts and almonds from the hotel for the Gosaikunda fair. Due to Covid-19, local hotels that could not see the crowd of passengers for two years are eager to welcome the devotees 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"">Sanjeev DM, president of the Gosainkunda Area Development Committee, said that devotees will reach Gosainkunda on August 7 to observe the fair, which starts on the day of Putrada Ekadashi (the 11<sup>th</sup> day of the waxing moon) on August 8 and ends on the full moon day on August 12. </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 Langtang National Park has requested the devotees who came to perform the pilgrimage not to destroy the vegetation and not to throw garbage recklessly.</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><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><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><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><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' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15432', 'image' => '20220726031810_image_processing20220416-4-1helmts.jpg', 'article_date' => '2022-07-26 15:17:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15690', 'article_category_id' => '266', 'title' => 'Centurion Hotel Signs pact with Radisson to set up a Five-Star Hotel ', 'sub_title' => '', 'summary' => 'July 26: Centurion Hotel, a subsidiary of Century Group of Nepal, has signed an agreement with Radisson Hotel Group for establishing Radisson Biratnagar, an international upscale hotel in Province 1.', '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 26: Centurion Hotel, a subsidiary of Century Group of Nepal, has signed an agreement with Radisson Hotel Group for establishing Radisson Biratnagar, an international upscale hotel in Province 1. </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"">Moti Lal Dugar, chairman of Century Group and Zubin Saxena, Radisson's managing director and vice president of operations in South Asia, signed the agreement amid a press conference held at Hotel Radisson Kathmandu on July 25. </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 new hotel with 140 rooms will be spread is spread across an area of 10,000 square meters. The hotel will have a movie hall, banquet, mall, casino, swimming pool, and gymnasium, KFC, Pizza Hut. Likewise, it will have two banquets of 10000 sq feet in size, the largest in the country. The will be built next to Bhatbhateni Supermarket and will be close to the airport and the Indian border. </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"">“We are delighted to have Radisson as our partner after successfully starting our journey in the hospitality business with Harrison Palace,” said Moti Lal Dugar, chairman of Century Group of companies. </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"">Dugad added that Biratnagar is the second largest city in Nepal in terms of urban development and they are going to open a hotel targeting both external and internal tourists visiting Province 1.</span></span><strong> </strong></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"">“Province 1 has world-famous mountains and religious sites, and Biratnagar is an economic hub. The city hosts numerous big business houses in Nepal, so the hotel will add international standard services to all the guests,” Dugar added. </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"">Upaul Majumdar, consultant of the project shared that he appreciates the owners for setting up a hotel on such a big scale in Nepal after successfully operating Harrison Palace. </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"">“Hotel Radisson is an international chain hotel providing the best services. I am thankful to Dugar for introducing a global brand in Biratnagar. Likewise, I am very glad to be associated with bringing a global brand to Biratnagar. This will add a lot to the potential of tourism in Nepal. Likewise, the hotel will provide good jobs to Nepali youth,” he added. </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"">Likewise, Zubin Saxena shared that Radisson has had its presence in Nepal for more than 2 decades and during this time the economy and tourism of the country have grown. </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 see Nepal in the next two decades as a developed economy nation and Radisson will be focused on adding 10-15 new hotels in the next five years. The hotels will be situated in all major strategic points,” he shared.</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><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15431', 'image' => '20220726025326_1658789296.Clipboard07.jpg', 'article_date' => '2022-07-26 14:52:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15689', 'article_category_id' => '1', 'title' => 'Government Measures Fail to Curb Imports', 'sub_title' => '', 'summary' => 'July 26: Nepal’s trade deficit increased by 23 percent during the last fiscal year despite measures taken by the government to restrict imports.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: Nepal’s trade deficit increased by 23 percent during the last fiscal year despite measures taken by the government to restrict imports. </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 Department of Customs, Nepal’s trade deficit has climbed to Rs 1720 billion. </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"">As per the data released by the Department of Customs on Monday, Nepal imported goods worth more than Rs 1,920.44 billion from different countries during the review year.</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 government had taken measures to restrict imports since last winter after excessive imports resulted in a decline in foreign exchange reserves.</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"">Nepal Rastra Bank (NRB) introduced a provision on December 20, 2021 requiring 50 percent cash margin for the import of goods and products under 20 different harmonic codes. Almost a month and a half later, the central bank increased the number of goods requiring cash margin for LC before they could be imported into the country. In March, the central bank officials informally instructed the CEOs of commercial banks not to open LCs for importing personal vehicles and luxury goods. </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"">As such measures failed to discourage imports, the Ministry of Industry, Commerce and Supplies issued a notice in the Nepal Gazette on April 26 banning the imports of 10 items including two wheelers above 250 cc, private vehicles, playing cards, readymade liquor among others. The ban on import of those ten items has been extended until August 30.</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 country’s exports also increased significantly during the last fiscal year. However, it too failed to reduce the trade deficit because the size of exports was negligible compared to the size of imports.</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"">Nepal’s exports increased last year by 41.74 percent compared to the pervious fiscal year. The total exports during the review year stood at Rs 203 billion.</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"">A large amount of Nepali currency went out of the country in a period of one year for the import of petroleum products. The cost of purchasing fuel has increased due to price hike and increase in consumption. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Data released by the Department of Customs shows that Nepal imported petroleum products worth Rs 320.32 billion from India in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The largest amount has been spent on importing diesel in the review year. Nepal spent over Rs 168.23 billion in diesel import in the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Rs 71.38 billion was spent on importing petrol, Rs 65.55 billion on import of cooking gas (LPG) and Rs 15.15 billion on import of aviation fuel in the review period. </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"">Looking at the data of the last five years, imports seems to have doubled during this period.</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"">Nepal had imported goods worth Rs 984 billion in the fiscal year 2016/17, which increased to Rs 1920 during the last fiscal year.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => 'import, goods, measures,, government, Nepal', 'description' => '', 'sortorder' => '15430', 'image' => '20220726012409_Birgunj.jpg', 'article_date' => '2022-07-26 13:23:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15688', 'article_category_id' => '1', 'title' => 'MPs Doubt Kathmandu-Tarai Expressway will be Completed within December 2024', 'sub_title' => '', 'summary' => 'July 26: The completion of the Kathmandu-Tarai Expressway (Fast Track) project within the deadline remains doubtful.', '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 26: The completion of the Kathmandu-Tarai Expressway (Fast Track) project within the deadline remains doubtful. Stakeholders have said that the basis for the completion of the project within December 2024 is not achievable. </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"">They argue that the contract management of the 72.5 km long expressway undertaken by the Nepalese Army has been delayed.</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"">During a discussion held at the Development and Technology Committee of the House of Representatives on Monday, lawmakers expressed doubts about the completion of the expressway on time. </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"">They expressed doubt stating that the contract management has not been done as per the first phase of the work schedule for fiscal year 2021/22 while there has been problems in acquisition of land in Khokana</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"">However, the army has claimed that the project will be completed by December 2024.</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"">Defense Secretary Kiran Raj Sharma expressed his commitment that the work will be completed on time. He has sought help from the committee to acquire 427 ropanis of lands in Khokna, which is the starting point of the expressway. </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"">Chairperson of the committee, Kalyani Kumari Khadka, said that although the progress of the last fiscal year was encouraging, the overall progress of the project was slow. She said that even after five years since handing over the project to the army, the progress has been slow. </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 no credibility that the expressway will be completed by December 2024. Even if the stakeholders claim it is possible, the schedule shows a solid foundation has not been built," she 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"">She added that the government has been suggested to make special arrangements for the national pride project compared to other projects, but the government has not shown any interest to address this issue.</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"">Khadka instructed all concerned parties to take immediate steps to make a solid schedule for the current fiscal year to complete the project on time.</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"">During the discussion, CPN-UML MP Ganesh Pahadi said that the contract management should have been completed according to last year's schedule, but it has not been completed yet. He suggested that a third party should be formed separately to monitor the expressway. He said that there is a risk that the cost will increase due to the delay in contract management.</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, another MP from UML, Padma Kumari Aryal, sarcastically said that there will come a day when the expressway will be called a 'slow track.</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"">Democratic Samajwadi Party MP Anil Kumar Jha said that despite handing over the expressway to the army, the work has not been done as expected. </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><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><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><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> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => 'Fast, track, land, acquisition, Khokana, Nepalese, Army, contract, management', 'description' => '', 'sortorder' => '15429', 'image' => '20220726124807_fast track.jpg', 'article_date' => '2022-07-26 12:46:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15687', 'article_category_id' => '1', 'title' => 'General Public Expecting Price Hike in Next Three Months: Inflation Expectation Survey', 'sub_title' => '', 'summary' => 'July 26: Nepal Rastra Bank has released the results of Inflation Expectations Survey (IES) for the third quarter of the last fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 26: Nepal Rastra Bank has released the results of Inflation Expectations Survey (IES) for the third quarter of the last fiscal year (FY 2021/22). According to the central bank, the survey was conducted from April 7 to April 12, 2022 among individual respondents from 24 market areas of twenty-one cities through field interviews. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The results are based on responses from 930 urban individuals, with additional 210 individuals in this survey compared to the number of individuals included in the previous survey. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the survey 92.5 percent of respondents expect price level to increase in the next three months. Likewise, 97.1 percent of respondents expect price level to increase over the next one year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The share of respondents expecting price increases at more than current rate in next three months has slightly increased from mid-January, 2022, while the share of respondents expecting price increase at more than current rate over the next one year has slightly decreased, the report states. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Likewise, the share of respondents expecting price increase in next three months across the entire listed product groups except real estate (housing) has increased from mid-January, 2022. Similarly, the share of respondents expecting price increase in one year ahead across food products has increased, while it has declined across the other product groups- non-food and services and real estate (housing) from mid-January, 2022.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The median inflation expectation for three months and one year ahead have been higher compared to mid-January, 2022. Median inflation expectations for three months and one year ahead stand at 10 percent and 14 percent respectively. The current median inflation perception is 12 percent. This shows that households expect inflation to decrease in the near term and increase in the medium term, the central bank said.</span></span></p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15428', 'image' => '20220726121005_Inflation.jpg', 'article_date' => '2022-07-26 12:09:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15701', 'article_category_id' => '1', 'title' => 'PATA Nepal to Organise 'Nepal Sales Mission-2022' in Thailand ', 'sub_title' => '', 'summary' => 'July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. ', '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: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Sales Mission-2022 is going to be organised with the objective of helping the post COVID-19 tourism revival campaign. </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 PATA Nepal, 20 tourism entrepreneurs, affiliated with PATA Nepal, and professionals would participate in the mission going to be organised in collaboration with Nepal Airlines Corporation, Thai Travel Agents Association, SS Group Thailand and Jawalakhel Group of Industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, more than 40 stakeholders associated to the tourism sector including Thai Travel Agents and Tour Operators, media would also participate in the mission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s Ambassador to Thailand, Ganesh Prasad Dhakal, would be the chief guest of the Nepal Sales Mission where CEO of PATA International, Liz Ortiguera, would participate as the special guest and keynote speaker. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of PATA Nepal chapter, Bibhuti Chand Thakur, expressed the belief that the Nepal Sales Mission would be the best forum to promote tourism potential between Nepal and Thailand, with Gautam Buddha international Airport already in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepali delegation would also participate in the 'Sixth PATA Destination Marketing Forum' to be held in Thailand from August 2-4, reads a press statement issued by PATA Nepal on Wednesday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15442', 'image' => '20220728124411_PN-Nepal-Sales-Mission-2022-Thailand.jpg', 'article_date' => '2022-07-28 12:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15700', 'article_category_id' => '1', 'title' => 'Government to Adopt Trade Integration Strategy', 'sub_title' => '', 'summary' => 'July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. ', '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: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. The Ministry of Industry, Commerce and Supplies has initiated the process of taking suggestions from stakeholders to finalize the 'Nepal Trade Integration Strategy 2079'.</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"">While Nepal is preparing to be upgraded from underdeveloped to developing country in the next few years, the government is preparing an integrated strategy, considering opportunities and challenges. </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"">Such strategy is going to be formulated during the Fifteenth Development Plan (2077-2081) with the objective of building an independent and socialist-oriented economy.</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 preliminary strategy prepared by the government was discussed in Birgunj on Wednesday. The ministry said that the integrated strategy will be finalized after taking suggestions from stakeholders. The government prepared a draft of the strategy with the support of the European Union, Nepal Trade and Investment Program and the Investment Program Facility.</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"">An expert group led by former Finance Secretary Rameshwar Khanal prepared the draft of the strategy. Khanal informed that the strategy focuses on the issue of the impact on foreign trade and how to solve it when Nepal transitions to the list of developing countries.</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"">After Nepal's upgrade, there will be no significant difference in trade with India, says Khanal. Experts say that the main purpose of the strategy is to find solutions to challenges and opportunities in trade with the European Union and the United States. Currently, the ratio of gross domestic product (GDP) and foreign trade is 39.3 percent, and the target is to increase it to 55 percent.</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"">Khanal informed that the ratio of exports of goods and services to GDP is 6.61 percent and the goal is to increase it to 20 percent. The strategy also emphasizes on studying what goods are being imported by other countries and from where, in order to increase exports and the possibility of Nepal exporting such goods to those countries.</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 government is planning to strengthen economic diplomacy to increase exports. At present, diplomatic missions and ambassadors in various countries will be mobilized to attract export trade and investment.</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 government's policy is to build business-supporting infrastructure and strengthen food security. </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"">Pushpa Sharma, a member of the expert group, said that plans are being made to this end.</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"">Improving quality and industrial standards will also be emphasized. </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"">Another expert, Rojan Bajracharya, said that while modernizing the production process, import substitution and export enhancement will be carried out strategically.</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 Lath, president of Madhes Province chapter of FNCCI, said that the efficiency of the business strategy depends on its successful implementation. </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"">Subodh Kumar Gupta, president of Birganj Chamber of Commerce and Industry, Mohan Sharma, president of Jitpur-Simara Chamber of Commerce and Industry, leather industrialist Mohammad Junaid Iftkhan and others said that the business strategy should focus on reducing the cost of production. They claimed that unless the cost of domestic production is cheap, it cannot survive in the domestic market, let alone exports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15441', 'image' => '20220728124828_1658961573.Clipboard25.jpg', 'article_date' => '2022-07-28 12:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15699', 'article_category_id' => '1', 'title' => 'Nepal Imported 1,807 EVs during Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). ', '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: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the data unveiled by the Department of Customs, majority of EVs imported last year came from China. Altogether 823 such vehicles arrived here from China followed by 696 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 184 EVs were brought in Nepal from South Korea, 78 EVs were imported from Japan, 23 from the UK, one from France and the remaining from other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the EVs imported were of 100 kilowatt and 150-200 kilowatt in capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government in the budget of last fiscal year had announced concession in excise duty for the EVs following which encouraging number of EVs made its way to Nepal during last fiscal year compared to the previous fiscal year (FY 2020/21) during which only 261 EVs were imported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government collected over Rs 1.43 billion in revenue from the import of 1,807 EVs in the last fiscal year while over Rs 5 billion flew out of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15440', 'image' => '20220728075905_electricvehicle-1611985899.jpg', 'article_date' => '2022-07-28 07:58:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15698', 'article_category_id' => '1', 'title' => 'Industrialists Present their Problems before Industry Minister', 'sub_title' => '', 'summary' => 'July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During a meeting organized by the Morang Merchants Association, 76-year-old Agarwal told the minister either to correct the tax rates or tell them to jump in the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The iron industry, which I have been operating for 47 years, is now closed,” said Agarwal, adding that the government is punishing the industry without any fault.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Naveen Rijal, president of Morang Merchants Association, said that even though the people have established the system that the leaders wanted through the people’s movement, the politicians are failing to address their aspirations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While informing Minister Badu about the problems faced by the industrial sector due to Russia-Ukraine war, Rijal asked him to take diplomatic initiative for the operation of the Mirganj bridge. He said that the government should take the initiative to open trade with Bangladesh for the industrial development of eastern Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that due to the delay in operation of the Mirganj bridge, the price of every item is more by Rs 2 per kg as they have to travel 105 kilometers more to reach Sunsari's Bhantabari transit point. Rizal said that the government is not serious about the issue of GI wire, vegetable oil, and sanitary pads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pradeep Murarka, the acting president of the Chamber of Industry Morang, said that although India has completed all necessary processes to bring cargo train to the Integrated Check Post, the Nepali side has not done anything concrete to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhim Ghimire, president of Province chapter of the Confederation of Nepalese Industry, said that the interest of bank loans should be brought down to single digit, the insurance companies should stop carteling, and a special economic zone should be built on a PPP model on 600 bigha of land in Amduwa.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Another entrepreneur, Shankarlal Agarwal, demanded the government to implement its commitment. Tara Chand Khaitan, the former president of the Morang Merchants Association, demanded the revocation of the provision to renew the EXIM code to stop smuggling through the open border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hulas Wire’s Director Yukti Golcha, Union Vice President Bikas Begwani, Vice President Anil Sah, Gopal Aggarwal, Pawan Sharda, and Basudev Golyan informed the minister about the problems faced by the industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"For Nepali consumers, import can be substituted only by giving preference to Nepali products," Minister Badu said, adding, "The government itself will bring the sick industries back into operation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15439', 'image' => '20220727080824_1658875100.Clipboard19.jpg', 'article_date' => '2022-07-27 20:07:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15697', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Recovers CCTV Footage which is ‘Unclear’', 'sub_title' => '', 'summary' => 'July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.', '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 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.</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"">Nevertheless, the Parliamentary Special Investigation Committee discussed and analyzed the CCTV footage which it obtained with much difficulty. The committee also called experts from the Forensic Science Laboratory of the Nepal Police and held a discussion on Tuesday. According to sources, the footage of the night of May 2</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">8</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">, which was deleted from the CCTV, has been recovered but the scenes are not clear.</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"">After realizing that the CCTV footage is not clear, the committee called experts to discuss about it. In Tuesday's meeting, the committee members asked the experts about the degradation of the video quality. The sought explanation regarding the absence of date and inability to play 51 clips as a single video. According to one of the members of the investigation committee, the experts said it was due to technical reasons and too many system checks.</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"">Surendra Aryal, member secretary of the committee, said that the experts gave their opinion on the things that were not clear. In response to the question of what was seen on the CCTV, he said, “The CCTV showed what was supposed to be shown. Now everything will be included in the report.” According to Aryal, the committee will hold a meeting at 11 am on Wednesday and start writing the report. Aryal also said that the discussion will be continued and conclusion will be drawn based on not only CCTV footage but all other means of investigation as well. </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""> “CCTV is not the sole evidence. We have other tools as well to reach the truth Aryal 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""> According to sources, the CCTV footage was unable to give clear conclusion. There is a possibility that there may be differences of opinion among the committee members while writing the report. Sources claim that there may be differences between the MPs of the ruling parties and the opposition party UML regarding the conclusion. All the members of the committee agree that the deadline will not be extended again. The committee was initially given a deadline of 10 days, but later 7 days were extended. There are 2 days left for the extended deadline to expire.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15438', 'image' => '20220727050930_20220707122044_ROS_KTM-4187.jpg', 'article_date' => '2022-07-27 17:08:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15696', 'article_category_id' => '1', 'title' => 'Importers Express Concern over Ban on Import of Liquor', 'sub_title' => '', 'summary' => 'July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.', '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 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.</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 Nepal Liquor Importers Association held a press conference in the capital on Tuesday and said that the import of ready-made liquor will cost USD 15 per litre, but the same liquor when sold to foreigners in hotels, restaurants and bars can earn as much as USD 120 per litre.</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 importing liquor, an average of USD 15 is lost per litre. But when it is sold from hotels, restaurants and bars, it earns USD 120 per litre,” said Anil Kumar Agarwal, president of the association. </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"">Agarwal also presented the data that the import of ready-made liquor will result in an outflow of USD 1.2 million (Rs 1.5 billion) and the government will receive Rs 3.3 billion as revenue from it. He claimed that the government is encouraging illegal imports by banning the import of ready-made liquor. </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 Agarwal, the amount spent on the import of liquor is only 0.10 per cent of the total foreign exchange reserves spent on the import of various goods in a 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 government has banned the import of ready-made liquor since April 26. Due to the ban, the supply of foreign liquor from official channels has decreased, and fake goods of international brands have started to enter the market, according to the association.</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 general secretary of the association, Gaurav Sharda, accused the government for giving smugglers the favourable ground to import liquor illegally. According to him, alcohol is a high-taxed commodity, so there is a lot of profit in tax evasion, leading in increase of smuggling in the border areas.</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 when there was no ban on imports, we have seen that liquor was brought to Nepal from India by smugglers and sold," Sharda said adding.</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"">If one litre of liquor is imported by dogging the revenue, the profit is Rs 3,500. Last January, the police seized 216 cartons of foreign brand liquor illegally imported from India in Kapan, Baneshwar and other places in the 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"">Sharda asked the media to make news based on facts stating that wrong data is being propagated regarding the import of liquor. </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><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><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><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><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><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><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><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><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><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><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><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><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><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><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' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15437', 'image' => '20220727030007_liquor.jpg', 'article_date' => '2022-07-27 14:59:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15695', 'article_category_id' => '1', 'title' => 'Monetary Policy is Positive: CBFIN', 'sub_title' => '', 'summary' => 'July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive. ', 'content' => '<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""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive while acknowledging that the achievement of the set goals and implementation of some of the arrangements adopted by it to be challenging. The confederation stated that the monetary policy has tightened economic activities for the improvement of the current economic situation due to which the goals set by the monetary policy will be challenging to achieve.</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 confederation said that the monetary policy has adopted timely policies to maintain economic and financial stability and bring the declining economy back on track.</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"">CBFIN has appreciated the central bank for including suggestions such as classification of loans flowing from banks and financial institutions, maintaining different interest rates for loans going to the productive sector and trade, development of the productive sector and credit flow to the productive sector, special priority to export promotion in the monetary policy. Similarly, CBFIN said that the provision of discounts on various services such as remittances brought into the country through formal channels, and the necessary amendments to the Foreign Investment and Foreign Debt Management Regulations, 2078 are highly commendable.</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"">CBFIN expects that the existing arrangements related to remittances will be reviewed to widen the scope of remittances inflow into Nepal and bank accounts will be made mandatory for Nepalese going abroad to help improve foreign exchange reserves. Likewise, it also believes that the increase in access to credit for small, domestic, small and medium enterprises, the productive sector including agriculture, exports and the continuation of re-financing facility for the sectors most affected by the Covid-19 pandemic, and the system where bonds can be counted as deposits, will help in the promotion of the commercial sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15436', 'image' => '20220727022441_monetary policy.jpg', 'article_date' => '2022-07-27 14:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15694', 'article_category_id' => '1', 'title' => 'Government to Receive Grant of Rs 1.37 Billion for Drinking Water Project ', 'sub_title' => '', 'summary' => 'July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference at the Ministry of Communications and Information Technology on Tuesday to disclose the decisions of the cabinet meeting held on July 25, Communications Minister Gyanendra Bahadur Karki shared that the government whas decided to accept 10.5 million euros from the European Union for the drinking water project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to accept grant equivalent to Rs 950 million from the Swiss government for the implementation of quality technical and vocational education and training project in the first phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government also decided to form a high-level study and recommendation committee headed by the National Planning Commission (NPC) Vice-chair to furnish recommendation on immediate measures to be taken on management and reduction of import. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal will be receiving a grant assistance of Japanese yen 376 million (approximately Rs 350 million) from Japan for implementation of the Human Resource Development (JDS) Project in the year 2022/23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The both parties signed and exchanged the notes in this regard amidst a programme at the Ministry of Finance on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Madhu Kumar Marasini and Charge d’affaires ad interim of Japan to Nepal Tamura Takahiro signed the documents on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the same occasion, grant agreement to this effect was signed by joint-secretary Ishwori Prasad Aryal of International Economic Cooperation Coordination Division under the Ministry of Finance and Tanaka Tomoko, senior representative of JICA Nepal, the Ministry of Finance said in a press statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Japan has been providing such scholarship grant to the Government of Nepal in a phase-wise manner. Under the first phase of the project, 80 civil servants have already completed their Master’s Degree and returned home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This grant will be utilized to administer the scholarship programme, including for payment of the university tuition fee, living allowances, settlement allowances, insurances and other basic allowances as well as supply of educational materials for 22 candidates (20 for Master’s degree and 2 for PhD degree) to pursue their degrees in various universities in Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The scholarship provides opportunity of pursuing two years’ Master’s degree and three years PhD courses to young Nepalese civil servants who are academically sound and are motivated to be engaged in Nepal’s socio economic development after completion of their study in Japan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15435', 'image' => '20220727011256_CKK-KTM-MinisterKarkia.jpg', 'article_date' => '2022-07-27 13:12:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15693', 'article_category_id' => '1', 'title' => 'Policy Intervention Needed to Minimize Impact of Nepal’s LDC Graduation on Pharmaceutical Industry', 'sub_title' => '', 'summary' => 'July 27: Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">July 27: </span></span><span style="font-size:13.5pt">Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Speaking at a workshop on ‘Preparedness of Nepal’s pharmaceutical sector in the face of LDC graduation,’ the experts discussed the challenges Nepali pharmaceutical industry will face in the context of new intellectual property regime after Nepal’s graduation from LDC.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">The workshop was jointly organized by South Asia Watch on Trade, Economics and Environment (SAWTEE) and Third World Network (TWN) in Kathmandu on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">They identified the major policy and institutional challenges for the optimal use of Trade Related Aspects on Intellectual Property Rights (TRIPS) flexibilities, and suggested way forward during the workshop, SAWTEE said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Inaugurating the programme, Dr Paras Kharel, executive director of SAWTEE, began by emphasizing the flexibilities that Nepal receives as an LDC and the preparedness of the pharmaceutical sector for the challenges it may encounter after 2026. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Posh Raj Pandey, chairperson of SAWTEE, presented the findings of the draft report “Preparedness of Nepal’s Pharmaceutical sector to cope with the challenges of the country’s LDC graduation” jointly prepared by SAWTEE and TWN. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Pandey suggested that Nepal could still avail different flexibilities even after the graduation, immediately during the transition phase and later as a developing countries too while strengthening the capacity of domestic pharmaceutical manufacturers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Prajwal Jung Pandey, president of the Association of Pharmaceutical Producers of Nepal (APPON), stated that the patent registration process for pharmaceutical companies in Nepal is complex and cumbersome. He mentioned that Nepal has not been able to effectively grab the benefits provided to LDCs. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Shiva Prasad Shrestha, senior vice president of Nepal Medical Association, lamented that Nepal’s pharmaceutical companies are limited to producing basic drugs rather than complex and life-saving drugs. He also stated that unless the government accords effective protection to domestic producers, Nepal’s pharmaceutical sector will have a difficult time surviving. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">KM Gopakumar, senior research and legal advisor to TWN, emphasized that an apt policy response is needed to minimize the impacts of LDC graduation on domestic producers and to ensure access to medicine in an affordable way. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">While the draft law on intellectual property is generally in the right direction, there are rooms for improvements. Likewise, he highlighted the roles that government could play in strengthening the pharmaceutical sector, for instance through providing incentives such as tax breaks in the use of IP flexibilities, favoring domestic producers in procurement policy, providing R&D funds, and by ensuring that patents apply only to inventions, and not to discoveries.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">In the closing remarks, Bharat Bhattarai, director general of the Department of Drug Administration, stated that the government has acknowledged the need for policy reforms in the pharmaceutical sector and the findings of the study has been successful in providing robust policy recommendations. Bhattarai stressed that a holistic approach is needed among stakeholders to invigorate the pharmaceutical sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">According to SAWTEE, the workshop was attended by policy makers, experts from the pharmaceutical sector, medical professionals, representatives from academia, activists and civil society members. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'drugs, medicine, pharmaceutical, industry, LDC, graduation, Nepal', 'description' => '', 'sortorder' => '15434', 'image' => '20220727112621_drugs.jpg', 'article_date' => '2022-07-27 11:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15692', 'article_category_id' => '1', 'title' => 'Nepal Imports Ash worth Rs 2.37 Billion in One Year', 'sub_title' => '', 'summary' => 'July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash. However, the ash that Nepal imports is not made from burning wood.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Customs, Nepal imports four different kinds of ashes and none of them are prepared from burning wood. The department informed that the country imported ashes worth Rs 2.37 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The imported ashes include residual copper, residue of other elements, and ashes prepared from urban waste and sea weeds. The ashes are mainly used as industrial raw materials. They are used to prepare copper utensils and other metal artefacts as well as cement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal is currently able to produce only the ash prepared from urban waste with HS Code 26211000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'ash, import, industrial, raw, material, residue, residual, copper', 'description' => '', 'sortorder' => '15433', 'image' => '20220727105920_ash.jpg', 'article_date' => '2022-07-27 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15691', 'article_category_id' => '1', 'title' => 'Hoteliers Start Hoarding Food for Gosaikunda Fair', 'sub_title' => '', 'summary' => 'July 26: Locals in Rasuwa have started transporting food to arrange meals for the devotees who reach the holy shrine of Gosaikunda for the Janai purnima fair on August 12. ', '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 26: Locals in Rasuwa have started transporting food to arrange meals for the devotees who reach the holy shrine of Gosaikunda for the Janai purnima fair on August 12. </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"">Pasang Gyalpo Tamang, a businessman of Lauri Binayak, shared that the local hoteliers have starting hoarding food after the Gosainkunda Area Development Committee estimated that 15,000 devotees would attend the religious fair of Gosainkunda on the occasion of Janai Purnima on August 12.</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 hoteliers, there are 67 permanently built hotels and lodges in nine places along the route to Gosainkunda, including 43 in Dhunche, two in Tiwari Bagar, two in Khanti, one in Deurali, two in Dimsa, seven in Chandanbari, two in Cholangpati, three in Lauri Binayak and four in Gosaikunda. </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"">Ramcharan Gajurel, district president of the Hotel Association of Rasuwa, informed that pilgrims visiting Gosainkund will not have any problem with food and accommodation.</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 the same time, the Gosainkunda Area Development Committee has said that if there is a problem with accommodation, temporary shelters will be arranged for the travellers.</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"">Foodstuffs are being transported by porters as well as mules and horses and it is said that about 50 sacks of rice have reached Gosainkunda. Stating that more rice and other materials are being transported, hotelier Tamang estimated that 150 sacks of rice will be consumed in Gosaikunda during the fair.</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"">Businessmen say that arrangements have been made to provide materials such as noodles, biscuits, beaten rice, water, cashew nuts and almonds from the hotel for the Gosaikunda fair. Due to Covid-19, local hotels that could not see the crowd of passengers for two years are eager to welcome the devotees 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"">Sanjeev DM, president of the Gosainkunda Area Development Committee, said that devotees will reach Gosainkunda on August 7 to observe the fair, which starts on the day of Putrada Ekadashi (the 11<sup>th</sup> day of the waxing moon) on August 8 and ends on the full moon day on August 12. </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 Langtang National Park has requested the devotees who came to perform the pilgrimage not to destroy the vegetation and not to throw garbage recklessly.</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><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><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><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><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' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15432', 'image' => '20220726031810_image_processing20220416-4-1helmts.jpg', 'article_date' => '2022-07-26 15:17:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15690', 'article_category_id' => '266', 'title' => 'Centurion Hotel Signs pact with Radisson to set up a Five-Star Hotel ', 'sub_title' => '', 'summary' => 'July 26: Centurion Hotel, a subsidiary of Century Group of Nepal, has signed an agreement with Radisson Hotel Group for establishing Radisson Biratnagar, an international upscale hotel in Province 1.', '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 26: Centurion Hotel, a subsidiary of Century Group of Nepal, has signed an agreement with Radisson Hotel Group for establishing Radisson Biratnagar, an international upscale hotel in Province 1. </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"">Moti Lal Dugar, chairman of Century Group and Zubin Saxena, Radisson's managing director and vice president of operations in South Asia, signed the agreement amid a press conference held at Hotel Radisson Kathmandu on July 25. </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 new hotel with 140 rooms will be spread is spread across an area of 10,000 square meters. The hotel will have a movie hall, banquet, mall, casino, swimming pool, and gymnasium, KFC, Pizza Hut. Likewise, it will have two banquets of 10000 sq feet in size, the largest in the country. The will be built next to Bhatbhateni Supermarket and will be close to the airport and the Indian border. </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"">“We are delighted to have Radisson as our partner after successfully starting our journey in the hospitality business with Harrison Palace,” said Moti Lal Dugar, chairman of Century Group of companies. </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"">Dugad added that Biratnagar is the second largest city in Nepal in terms of urban development and they are going to open a hotel targeting both external and internal tourists visiting Province 1.</span></span><strong> </strong></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"">“Province 1 has world-famous mountains and religious sites, and Biratnagar is an economic hub. The city hosts numerous big business houses in Nepal, so the hotel will add international standard services to all the guests,” Dugar added. </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"">Upaul Majumdar, consultant of the project shared that he appreciates the owners for setting up a hotel on such a big scale in Nepal after successfully operating Harrison Palace. </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"">“Hotel Radisson is an international chain hotel providing the best services. I am thankful to Dugar for introducing a global brand in Biratnagar. Likewise, I am very glad to be associated with bringing a global brand to Biratnagar. This will add a lot to the potential of tourism in Nepal. Likewise, the hotel will provide good jobs to Nepali youth,” he added. </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"">Likewise, Zubin Saxena shared that Radisson has had its presence in Nepal for more than 2 decades and during this time the economy and tourism of the country have grown. </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 see Nepal in the next two decades as a developed economy nation and Radisson will be focused on adding 10-15 new hotels in the next five years. The hotels will be situated in all major strategic points,” he shared.</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><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15431', 'image' => '20220726025326_1658789296.Clipboard07.jpg', 'article_date' => '2022-07-26 14:52:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15689', 'article_category_id' => '1', 'title' => 'Government Measures Fail to Curb Imports', 'sub_title' => '', 'summary' => 'July 26: Nepal’s trade deficit increased by 23 percent during the last fiscal year despite measures taken by the government to restrict imports.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 26: Nepal’s trade deficit increased by 23 percent during the last fiscal year despite measures taken by the government to restrict imports. </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 Department of Customs, Nepal’s trade deficit has climbed to Rs 1720 billion. </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"">As per the data released by the Department of Customs on Monday, Nepal imported goods worth more than Rs 1,920.44 billion from different countries during the review year.</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 government had taken measures to restrict imports since last winter after excessive imports resulted in a decline in foreign exchange reserves.</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"">Nepal Rastra Bank (NRB) introduced a provision on December 20, 2021 requiring 50 percent cash margin for the import of goods and products under 20 different harmonic codes. Almost a month and a half later, the central bank increased the number of goods requiring cash margin for LC before they could be imported into the country. In March, the central bank officials informally instructed the CEOs of commercial banks not to open LCs for importing personal vehicles and luxury goods. </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"">As such measures failed to discourage imports, the Ministry of Industry, Commerce and Supplies issued a notice in the Nepal Gazette on April 26 banning the imports of 10 items including two wheelers above 250 cc, private vehicles, playing cards, readymade liquor among others. The ban on import of those ten items has been extended until August 30.</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 country’s exports also increased significantly during the last fiscal year. However, it too failed to reduce the trade deficit because the size of exports was negligible compared to the size of imports.</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"">Nepal’s exports increased last year by 41.74 percent compared to the pervious fiscal year. The total exports during the review year stood at Rs 203 billion.</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"">A large amount of Nepali currency went out of the country in a period of one year for the import of petroleum products. The cost of purchasing fuel has increased due to price hike and increase in consumption. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Data released by the Department of Customs shows that Nepal imported petroleum products worth Rs 320.32 billion from India in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The largest amount has been spent on importing diesel in the review year. Nepal spent over Rs 168.23 billion in diesel import in the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Rs 71.38 billion was spent on importing petrol, Rs 65.55 billion on import of cooking gas (LPG) and Rs 15.15 billion on import of aviation fuel in the review period. </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"">Looking at the data of the last five years, imports seems to have doubled during this period.</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"">Nepal had imported goods worth Rs 984 billion in the fiscal year 2016/17, which increased to Rs 1920 during the last fiscal year.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => 'import, goods, measures,, government, Nepal', 'description' => '', 'sortorder' => '15430', 'image' => '20220726012409_Birgunj.jpg', 'article_date' => '2022-07-26 13:23:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15688', 'article_category_id' => '1', 'title' => 'MPs Doubt Kathmandu-Tarai Expressway will be Completed within December 2024', 'sub_title' => '', 'summary' => 'July 26: The completion of the Kathmandu-Tarai Expressway (Fast Track) project within the deadline remains doubtful.', '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 26: The completion of the Kathmandu-Tarai Expressway (Fast Track) project within the deadline remains doubtful. Stakeholders have said that the basis for the completion of the project within December 2024 is not achievable. </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"">They argue that the contract management of the 72.5 km long expressway undertaken by the Nepalese Army has been delayed.</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"">During a discussion held at the Development and Technology Committee of the House of Representatives on Monday, lawmakers expressed doubts about the completion of the expressway on time. </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"">They expressed doubt stating that the contract management has not been done as per the first phase of the work schedule for fiscal year 2021/22 while there has been problems in acquisition of land in Khokana</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"">However, the army has claimed that the project will be completed by December 2024.</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"">Defense Secretary Kiran Raj Sharma expressed his commitment that the work will be completed on time. He has sought help from the committee to acquire 427 ropanis of lands in Khokna, which is the starting point of the expressway. </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"">Chairperson of the committee, Kalyani Kumari Khadka, said that although the progress of the last fiscal year was encouraging, the overall progress of the project was slow. She said that even after five years since handing over the project to the army, the progress has been slow. </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 no credibility that the expressway will be completed by December 2024. Even if the stakeholders claim it is possible, the schedule shows a solid foundation has not been built," she 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"">She added that the government has been suggested to make special arrangements for the national pride project compared to other projects, but the government has not shown any interest to address this issue.</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"">Khadka instructed all concerned parties to take immediate steps to make a solid schedule for the current fiscal year to complete the project on time.</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"">During the discussion, CPN-UML MP Ganesh Pahadi said that the contract management should have been completed according to last year's schedule, but it has not been completed yet. He suggested that a third party should be formed separately to monitor the expressway. He said that there is a risk that the cost will increase due to the delay in contract management.</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, another MP from UML, Padma Kumari Aryal, sarcastically said that there will come a day when the expressway will be called a 'slow track.</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"">Democratic Samajwadi Party MP Anil Kumar Jha said that despite handing over the expressway to the army, the work has not been done as expected. </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><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><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><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> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => 'Fast, track, land, acquisition, Khokana, Nepalese, Army, contract, management', 'description' => '', 'sortorder' => '15429', 'image' => '20220726124807_fast track.jpg', 'article_date' => '2022-07-26 12:46:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15687', 'article_category_id' => '1', 'title' => 'General Public Expecting Price Hike in Next Three Months: Inflation Expectation Survey', 'sub_title' => '', 'summary' => 'July 26: Nepal Rastra Bank has released the results of Inflation Expectations Survey (IES) for the third quarter of the last fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 26: Nepal Rastra Bank has released the results of Inflation Expectations Survey (IES) for the third quarter of the last fiscal year (FY 2021/22). According to the central bank, the survey was conducted from April 7 to April 12, 2022 among individual respondents from 24 market areas of twenty-one cities through field interviews. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The results are based on responses from 930 urban individuals, with additional 210 individuals in this survey compared to the number of individuals included in the previous survey. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the survey 92.5 percent of respondents expect price level to increase in the next three months. Likewise, 97.1 percent of respondents expect price level to increase over the next one year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The share of respondents expecting price increases at more than current rate in next three months has slightly increased from mid-January, 2022, while the share of respondents expecting price increase at more than current rate over the next one year has slightly decreased, the report states. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Likewise, the share of respondents expecting price increase in next three months across the entire listed product groups except real estate (housing) has increased from mid-January, 2022. Similarly, the share of respondents expecting price increase in one year ahead across food products has increased, while it has declined across the other product groups- non-food and services and real estate (housing) from mid-January, 2022.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The median inflation expectation for three months and one year ahead have been higher compared to mid-January, 2022. Median inflation expectations for three months and one year ahead stand at 10 percent and 14 percent respectively. The current median inflation perception is 12 percent. This shows that households expect inflation to decrease in the near term and increase in the medium term, the central bank said.</span></span></p> ', 'published' => true, 'created' => '2022-07-26', 'modified' => '2022-07-26', 'keywords' => '', 'description' => '', 'sortorder' => '15428', 'image' => '20220726121005_Inflation.jpg', 'article_date' => '2022-07-26 12:09:17', '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
