June 22: Airline companies operating domestic flights and helicopter service in Nepal have withdrawn their strike.…
June 22: Airline companies operating domestic flights and helicopter service in Nepal have withdrawn their strike.…
June 22: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has assured that the trading of shares of any company will not be halted due to merger and…
June 22: The policy adopted by the government to reduce imports after facing increasing pressure on the foreign exchange reserves has failed…
June 22: The Hotel Association Nepal (HAN) has submitted a 10-point suggestions to the central bank to be included in the monetary policy for the upcoming fiscal year.…
June 22: The country has recorded a trade deficit of Rs 1577 billion in the first 11 months of the current fiscal year, which is 25 per cent more compared to the last fiscal…
June 22: The Civil Aviation Authority of Nepal (CAAN) has made it clear that the forceful act of the airlines companies to suspend domestic flights from Wednesday is not…
June 21: The Airline Operators Association of Nepal (AOAN) has warned of suspending all domestic flights from June 22 if the government fails to address the long-term problems faced by the country’s aviation…
June 21: The Federation of Contractors Association of Nepal (FCAN), the umbrella body of construction entrepreneurs, has said that the construction industry is on the verge of coming to a standstill due to the excessive rise in the price of construction materials as a result of repeated price hikes of fuel.…
June 21: With the hike in fuel prices, transportation fare has also gone…
June 21: Nepal Oil Corporation (NOC) has decided not to sell petroleum products at a…
June 21: The Airline Operators Association of Nepal (AOAN) has increased the airfare for domestic flights citing the increase in price of petroleum…
June 21: Two more airline companies from abroad will be providing services from the Bhairahawa-based Gautam Buddha International…
June 21: The House of Representatives (HoR) meeting on Monday passed the ‘Financial Bill, 2079’ with majority…
June 21: The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loan from banks and financial institutions by accepting land in collateral.…
June 20: Lawmakers have expressed objection to the decision of Nepal Oil Corporation (NOC) to hike the price of petroleum…
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', 'content' => '<p><span style="font-size:18px">June 22: Airline companies operating domestic flights and helicopter service in Nepal have withdrawn their strike. The Airline Operators Association of Nepal (AOAN) had warned that the companies would suspend all flights if the Civil Aviation Authority of Nepal (CAAN) did not address their demands.</span></p> <p><span style="font-size:18px">However, the airline companies resumed service from 11 am on Wednesday fearing action from the government. But the airline operators' association said the strike has been postponed after the government expressed its commitment to resolve the issue. Yeti Airlines on Wednesday tweeted that all the postponed flights have been resumed.</span></p> <p><span style="font-size:18px">Due to the gravity of the issue, Prime Minister Sher Bahadur Deuba had held a meeting with Tourism Minister Prem Ale and CAAN Director-General Pradip Adhikari in Baluwatar to discuss the issue.</span></p> <p><span style="font-size:18px">During the discussion, the government decided to take initiative to revoke the license of the striking airline companies and arrest the protesters and take legal action against them.</span></p> <p><span style="font-size:18px">Earlier, the government had issued a warning that the operators of the airline companies would be arrested under the Emergency Services Act and their license revoked if they did not resume service taking into consideration the inconvenience it might cause to the general public.</span></p> <p><span style="font-size:18px">The government has placed the air service under essential service by publishing a notice in the Nepal Gazette on June 9. According to the notice, strikes are not allowed in sectors providing essential services, and violators could be prosecuted.</span></p> <p><span style="font-size:18px">The domestic airliners had announced a strike after CAAN decided to relocate 67 per cent of the existing aircraft and helicopters to airports outside the Kathmandu Valley for night stop.</span></p> <p><span style="font-size:18px">The Nepal Airlines Operators Association of Nepal, an umbrella organization of private airline operators, held a press conference on Tuesday and put forth the five-point demand. They had warned of suspending domestic flights from Wednesday if their demands were not addressed.</span></p> <p><span style="font-size:18px">CAAN, on the other hand, insisted that its decision will not be revoked. CAAN had decided to shift the parking base of helicopters and aircraft from Tribhuvan International Airport (TIA) to outside the Kathmandu Valley.</span></p> <p><span style="font-size:18px">As per the decision, helicopters and aircraft will be sent out of Kathmandu for night-stop parking and they are required to operate the first flight of the day from the base airport (stop area). <br /> According to the CAAN, the decision to shift the parking space was taken to reduce parking loads at TIA. In case of airlines companies, the decision shall come into effect from June 27 while the helicopters companies are required to implement it from June 21.</span></p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'flights, strike, airline, operators, Nepal, prime minister, tourism minister, CAAN, demand', 'description' => '', 'sortorder' => '15231', 'image' => '20220622065059_airraft.jpg', 'article_date' => '2022-06-22 18:48:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15488', 'article_category_id' => '1', 'title' => 'Shares Transaction of any Company will not be Blocked due to Merger and Acquisition', 'sub_title' => '', 'summary' => 'June 22: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has assured that the trading of shares of any company will not be halted due to merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">June 22: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has assured that the trading of shares of any company will not be halted due to merger and acquisition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a press conference held at the board on Tuesday, Chairman Hamal said that a law will be enacted to allow the trading of shares of companies going for merger and acquisition after mid-August.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"After mid-August, we will make arrangements so that the trading of shares of the company going for merger and acquisition will not be stopped. It is not appropriate to mortgage the assets of investors for years,” he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hamal expressed his commitment to implement this law. Stating that the governor was positive about the merger acquisition, he said that there should be no confusion regarding such issues. Hundreds of investors should not be saddened by the mistake made by one or two people, said Hamal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chairman Hamal said that the 19-point demand of the investors of share market will be addressed in a phase-wise manner. He also urged the agitating investors and brokers to withdraw their protests. According to Hamal, some of the demands of the protesters need to be addressed by the Nepal Rastra Bank and the Finance Ministry and the board is coordinating with them to resolve the problem.</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 also said that the investors need not worry about the bearish trend of the share market because it is mainly due to the liquidity crisis in the banking system at present. According to Hamal, the situation of share market in other countries is also similar to that of Nepal.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'share, transaction, liquidity, banking, merger, acquisition, NRB, Finance, Ministry', 'description' => '', 'sortorder' => '15230', 'image' => '20220622042335_share.jpg', 'article_date' => '2022-06-22 16:22:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15487', 'article_category_id' => '1', 'title' => 'Government’s Import Policy Fails', 'sub_title' => '', 'summary' => 'June 22: The policy adopted by the government to reduce imports after facing increasing pressure on the foreign exchange reserves has failed miserably.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 22: The policy adopted by the government to reduce imports after facing increasing pressure on the foreign exchange reserves has failed miserably.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Despite the government's policy of tightening the credit flow for import through Nepal Rastra Bank (NRB), banning the import of luxury goods through the Ministry of Supply and reducing the import of fuel by giving two days public holiday, the imports have increased instead of decreasing.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">According to the data published by the Department of Customs on Tuesday, the imports have increased by Rs 21 billion from mid-May to mid-June as compared to the previous month. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">NRB had introduced a policy to discourage imports from last December after the balance of payments deficit increased due to high imports while the foreign exchange reserves were declining. During mid-December, the central bank made provision for keeping cash margin while opening LC for import of 20 different types of goods including cosmetics and luxury goods. Similarly, the gold import quota was halved to 10 kg per day in the first week of March.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Similarly, the government banned the import of 10 different types of luxury goods on April 27. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The Ministry of Industry, Commerce and Supplies prohibited the imports of mobile sets worth more than USD 600, color televisions of over 32 inches, vehicles including jeep, cars and vans, and motorcycles of over 250 cc, food, liquor, crackers, chips, cigarettes and tobacco products, cards and toys till mid-July. Also, the government decided to give two days leave per week from mid-May to mid-June citing that it would reduce the consumption of petroleum products.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Imports did not decline even five months after the government adopted the policy to discourage imports. Imports fell by Rs 20 billion from mid-April to mid-May as compared to the previous month and were limited to Rs 137 billion. The imports of mid-April to mid-May are the lowest this year. The imports of mid-May to mid-June were about Rs 21 billion more than that of mid-April to mid-May. Figures from the department show that goods worth Rs 158 billion were imported in May.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Diesel, petrol, LPG and cast iron top the list of imports. Diesel was imported the most amounting to Rs 145.21 billion as of mid-June.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Soybean oil is Nepal’s prime export, whose export amounted to Rs 46.58 billion in the last 11 months. As Nepal imports the raw material required for soybean oil production, it is the fourth largest importer of crude soybean oil. Crude soybean oil worth Rs 53.25 billion was imported in the last 11 months, as per the customs data.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => '', 'description' => '', 'sortorder' => '15229', 'image' => '20220622023528_Trade.jpg', 'article_date' => '2022-06-22 14:34:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15486', 'article_category_id' => '1', 'title' => 'HAN Urges Central Bank to Increase Concessional Loan to Rs 500 Million', 'sub_title' => '', 'summary' => 'June 22: The Hotel Association Nepal (HAN) has submitted a 10-point suggestions to the central bank to be included in the monetary policy for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 22: The Hotel Association Nepal (HAN) has submitted a 10-point suggestions to the central bank to be included in the monetary policy for the upcoming fiscal year. HAN has suggested increasing the concessional loan from Rs 200 million to Rs 500 million and reducing the credit card fee from 3 percent to 1 percent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">HAN’s acting president Binayak Shah, general secretary Sajan Shakya and other officials met Governor of Nepal Rastra Bank Maha Prasad Adhikari and presented suggestions on monetary policy. On the occasion, Shah said that the tourism sector, especially the hotel industry, has been most affected by the Covid-19 pandemic and it is difficult to operate the hotels.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">He also said that the budget of the Fiscal Year 2022/23 does not address the problems of the tourism and hotel industry. Shah expressed confidence that the issues left out in the budget will be covered by the monetary policy. Stating that the financial condition of the hotel and tourism industry has not eased so far, HAN demanded arrangements for imposition of no penalty and interest till mid-July 2081 BS.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">HAN also suggested rescheduling the existing loans with an extension of at least 3 years. HAN requested that the interest on the rescheduled loan be repaid in installments for a period longer than mid-July. HAN demanded that the hotels should provide dollar prepaid cards in the name of the designated person and make arrangements for easy acceptance of Indian Rs 500 and Rs 2,000 notes as well.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'Hotel, concessional, loan, HAN, pandemic, Covid-19, tourism', 'description' => '', 'sortorder' => '15228', 'image' => '20220622013946_Hotel.jpg', 'article_date' => '2022-06-22 13:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15485', 'article_category_id' => '1', 'title' => 'Country’s Trade Deficit Reaches Rs 1577 Billion in 11 Months ', 'sub_title' => '', 'summary' => 'June 22: The country has recorded a trade deficit of Rs 1577 billion in the first 11 months of the current fiscal year, which is 25 per cent more compared to the last fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 22: The country has recorded a trade deficit of Rs 1577 billion in the first 11 months of the current fiscal year, which is 25 per cent more compared to the last fiscal year. </span></span></span><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, the country’s trade deficit was Rs 1262.11 billion in the same period of last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the review period, country’s foreign trade stood at Rs 1949 billion, which is 29.5 per cent more than the previous fiscal year. In the first 11 months of the current fiscal year, the country imported goods worth Rs 1763.22 billion against Rs 1383.36 billion in the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal exported goods worth Rs 185.83 billion in the first 11 months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the review period, Nepal imported petroleum products of Rs 267.3 billion. Among the petroleum products, diesel topped the import list at Rs 145.22 billion while cooking gas (LPG) worth Rs 59.16 billion was imported during the 11 months of the current fiscal year. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'Trade, deficit, import, export, Nepal, petroleum, diesel, customs, department, fiscal year', 'description' => '', 'sortorder' => '15227', 'image' => '20220622075829_trade_imbalance.jpg', 'article_date' => '2022-06-22 07:57:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15484', 'article_category_id' => '1', 'title' => ' Suspension of Domestic Flights Unacceptable: CAAN ', 'sub_title' => '', 'summary' => 'June 22: The Civil Aviation Authority of Nepal (CAAN) has made it clear that the forceful act of the airlines companies to suspend domestic flights from Wednesday is not acceptable. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 22: The Civil Aviation Authority of Nepal (CAAN) has made it clear that the forceful act of the airlines companies to suspend domestic flights from Wednesday is not acceptable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organizing a news conference on Tuesday, CAAN urged the airlines companies not to suspend the flights stating that its prior decisions were taken to lessen the existing pressure on Tribhuvan International Airport and for the strengthening of the aviation safety. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of CAAN Pradip Adhikari said the airlines companies are against its decision to shy away from their responsibility. He urged them to be responsible towards public service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The airline companies should be responsible in sensitive issue like aviation service. CAAN will not remain mute if people suffered from the strike,” Director General Adhikari added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the Airlines Operators Association of Nepal (AOAN) had warned to suspend all emergency and scheduled flights from Wednesday if CAAN was not ready to revoke its 'controversial' decision. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, standing firm on its ground, CAAN's Director General Adhikari insisted the airline companies should go to the particular sites for their night-stop where the airline companies received approval for their base during the time of acquiring Air Operator Certificate (AOC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Earlier, the CAAN had decided to shift the parking base of helicopters and aircraft from Tribhuvan International Airport (TIA) to outside the Kathmandu Valley. </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 decision, helicopters and aircraft will be sent out of Kathmandu for night-stop parking and they are required to operate the first flight of the day from the base airport (stop area). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the CAAN, the decision to shift the parking space was taken to reduce parking loads at TIA. In case of airlines companies, the decision shall come into effect from June 27 while the helicopters companies are required to implement it from June 21. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'flights, airline, companies, suspension, CAAN, domestic, airport', 'description' => '', 'sortorder' => '15226', 'image' => '20220622075703_caan.jpg', 'article_date' => '2022-06-22 07:56:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15483', 'article_category_id' => '1', 'title' => 'Airline Operators Warn of Suspending Flights from June 22', 'sub_title' => '', 'summary' => 'June 21: The Airline Operators Association of Nepal (AOAN) has warned of suspending all domestic flights from June 22 if the government fails to address the long-term problems faced by the country’s aviation sector.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 21: The Airline Operators Association of Nepal (AOAN) has warned of suspending all domestic flights from June 22 if the government fails to address the long-term problems faced by the country’s aviation sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The umbrella body of airline companies of Nepal has forwarded a 5-point demand to the government and urged it to address them immediately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The airline operators said that they will suspend flights if their demand is not addressed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Organising a press conference in the capital on Tuesday, AOAN unveiled the 5-point demand and warned of suspending all flights from Wednesday if the government fails to address them.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">One of the major demands of the association is to revoke the hike in passenger service charge, and other charges related to landing, parking, navigation among others provisioned in the Airport Service Charge Regulation 2078. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">AOAN has also demanded a permanent helipad for operating helicopter service at the Tribhuvan International Airport and space for a hangar for the repair and maintenance of aircraft.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The association has also demanded the government to take immediate steps to remove Nepal from the blacklist of European Union. AOAN has concluded that the EU’s decision to blacklist Nepal on the pretext of aviation safety has affected the tourism sector of the country.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15225', 'image' => '20220621065728_1655799740.1600647868.ghj.jpg', 'article_date' => '2022-06-21 18:56:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15482', 'article_category_id' => '1', 'title' => ''Fuel Price Hike Hits Construction Industry'', 'sub_title' => '', 'summary' => 'June 21: The Federation of Contractors Association of Nepal (FCAN), the umbrella body of construction entrepreneurs, has said that the construction industry is on the verge of coming to a standstill due to the excessive rise in the price of construction materials as a result of repeated price hikes of fuel. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">June 21: The Federation of Contractors Association of Nepal (FCAN), the umbrella body of construction entrepreneurs, has said that the construction industry is on the verge of coming to a standstill due to the excessive rise in the price of construction materials as a result of repeated price hikes of fuel. According to the federation, the recent price hike of Rs 21 per liter on petrol and Rs 27 per liter on diesel and kerosene will further affect the construction industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The federation said that projects of national pride and other vital construction projects are likely to be shut down due to sharp rise in fuel prices. The federation is of the view that the government's latest move reflects its indifference towards the construction industry as the government has not provided any relief to the construction businessmen despite the continuous rise in prices.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the federation, thousands of construction entrepreneurs, their families and millions of people dependent on the industry have been affected by the unpredictable rise in prices. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A statement issued by FCAN General Secretary Roshan Dahal on Monday states that the federation has been shocked by the sudden rise in prices at a time when the talks between the federation and stakeholders on price adjustment in accordance with the Public Procurement Act and regulations was underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FCAN has said that the rise in prices of fuel is affecting the overall development of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Meanwhile, the federation has accused the government of giving undue favour to the insurance companies by increasing the cost of infrastructure development through the provision made by the Insurance Directive-2078 BS. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15224', 'image' => '20220621063857_1655767050.Clipboard35.jpg', 'article_date' => '2022-06-21 18:38:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15481', 'article_category_id' => '1', 'title' => 'Transportation Charge Increases through Automatic Pricing Mechanism', 'sub_title' => '', 'summary' => 'June 21: With the hike in fuel prices, transportation fare has also gone up.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 21: With the hike in fuel prices, transportation fare has also gone up. The Department of Transport Management increased the transportation fares of land route while the Airline Operators Association of Nepal increased the fares of air transport. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The department informed that the fare of inter-state public transport has been increased in accordance to the automatic pricing mechanism. Under this system, when the price of fuel goes up or down by 5 percent, the fares can be adjusted accordingly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The department issued a statement on Monday announcing the increase in the fares of inter-state public transport by 5.30 percent. In the case of freighters, the fare has been increased by 6.94 percent for those traveling in the hill region and 7.7 percent for those traveling in the Terai. According to the department, the fare of vehicles operating on local routes remains the same.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Nepal Oil Corporation increased the prices of petrol, diesel and aviation fuel with effect from Sunday night. The corporation increased the price of petrol by Rs 21, diesel by Rs 27 and aviation fuel by Rs 19 per liter. The price of petrol went up to Rs 199 per liter, diesel to Rs 192 per liter and aviation fuel to Rs 185 per liter.</span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => 'Transportation fare, hike, petrol, fuel, automatic pricing mechanism', 'description' => '', 'sortorder' => '15223', 'image' => '20220621043154_Transport.jpg', 'article_date' => '2022-06-21 16:31:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15480', 'article_category_id' => '1', 'title' => 'NOC Decides not to Sell Fuel at a Loss', 'sub_title' => '', 'summary' => 'June 21: Nepal Oil Corporation (NOC) has decided not to sell petroleum products at a loss.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">June 21: Nepal Oil Corporation (NOC) has decided not to sell petroleum products at a loss. The state-owned NOC stated that such a decision was made since it cannot take any more losses. Until now, the corporation had been selling fuel at a lower price than the actual cost.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The corporation held a press conference at the Ministry of Industry, Commerce and Supplies on Monday and informed that it is no longer going sell petroleum products at a loss.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC officials said that the price of petroleum products was increased excessively on Sunday for the same purpose. The corporation increased the price of petrol by Rs 21 per liter and diesel by Rs 27 per liter. According to the NOC, it still has to purchase petrol at Rs 212.58 per liter and diesel at Rs 205.95 per liter. Therefore, the NOC is still incurring a loss of Rs 13.58 per liter on petrol and Rs 13.95 per liter on diesel. The corporation also informed that the price of petroleum products has been adjusted by reducing the infrastructure tax.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Earlier, NOC had been selling petrol at a loss of Rs 31.28 per liter and diesel at Rs 37.16 per liter.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The NOC stated that it needs to sell petroleum products at the cost price as it is no longer in a position to bear such excessive losses.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC also informed that a taskforce is being formed to study the price of unused gas. The corporation says further decisions will be made on the basis of the findings of the study.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC Executive Director Umesh Prasad Thani said that there is a high probability of fixing two different rates for cooking gas (liquefied petroleum gas). He said that the price of gas for household use and industrial purposes will be fixed differently. A taskforce led by the Director General of the Department of Quality Control and Measurement is studying this issue. The size and color of gas cylinders for household and industrial purposes will be made different.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => 'NOC, loss, fuel, petrol, diesel, LPG', 'description' => '', 'sortorder' => '15222', 'image' => '20220621025013_Petrol-Price-Increase.jpg', 'article_date' => '2022-06-21 14:48:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15479', 'article_category_id' => '1', 'title' => 'Aviation Fare Goes Up ', 'sub_title' => '', 'summary' => 'June 21: The Airline Operators Association of Nepal (AOAN) has increased the airfare for domestic flights citing the increase in price of petroleum products.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">June 21: The Airline Operators Association of Nepal (AOAN) has increased the airfare for domestic flights citing the increase in price of petroleum products. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Issuing a notice on Monday, the association said that the new airfare shall come into effect from Wednesday (June 22). <br /> AOAN said that the airfare for domestic flights has been increased by a minimum of Rs 170 to the maximum of Rs 840. <br /> As per the new price list, the airfare for Kathmandu-Dhangadhi flight has been increased by Rs 840. Tickets for the route will now cost Rs 16,805. This is the highest increase in fuel surcharge. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The fare of mountain flights from Kathmandu has been increased by Rs 655 per ticket, which will now cost Rs 14,720.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Likewise, the fare along Kathmandu-Nepalgunj rout has been increased by Rs 620 and is now fixed at Rs 13,815 per passenger. The fuel surcharge for Kathmandu-Bhadrapur flights has been increased by Rs 570. Similarly, the fare of Kathmandu-Biratnagar flights has been increased by Rs 455 and that of Kathmandu-Bhairahawa by Rs 395. Now, the Kathmandu-Simara flight is the cheapest flight from Kathmandu. The surcharge on this route has been increased by Rs 170.</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""><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The decision to hike the airfare comes after the state-owned Nepal Oil Corporation increased the price of aviation turbine fuel for domestic flights by Rs 19 per litre on Sunday. </span></span> </span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15221', 'image' => '20220621080526_B9C9CD73-A9C9-4291-A35E-759CE72B8838.jpeg', 'article_date' => '2022-06-21 08:02:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15477', 'article_category_id' => '1', 'title' => 'Two more International Airline Companies likely to Start Flights to Bhairahawa Airport soon', 'sub_title' => '', 'summary' => ' June 21: Two more airline companies from abroad will be providing services from the Bhairahawa-based Gautam Buddha International Airport.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: Two more airline companies from abroad will be providing services from the Bhairahawa-based Gautam Buddha International Airport. </span><span style="font-family:"Arial Unicode MS","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) said Air Arabia and the Fly Dubai have proceeded with rending their services from the airport that has been formally opened since May 16. Both the international airline companies are based in the United Arab Emirates (UAE). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN director general Pradip Adhikari said the companies have expressed interest for getting connected to the airport for commercial flights on a regular basis from Bhairahawa within the next two weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that the demand from Bhairahawa for flights towards labour destination countries is high. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Jazeera Airways that had launched regular flights three days a week to and from the airport since its inauguration ispreparing to provide its service throughout the week, according to the airport’s chief Govinda Prasad Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jazeera Airways charges Rs 33,000 as a minimum fare for a Kathmandu-Kuwait flight and a 20 percent discount is available on a two-way ticketing. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15220', 'image' => '20220621074316_FlyDubai-8_MAX_(30728990597).jpg', 'article_date' => '2022-06-21 07:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15476', 'article_category_id' => '1', 'title' => 'House of Representatives Passes Financial Bill with Majority Votes', 'sub_title' => ' MPs argue that income tax in Nepal was higher than that of neighbouring countries', 'summary' => 'June 21: The House of Representatives (HoR) meeting on Monday passed the ‘Financial Bill, 2079’ with majority votes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: The House of Representatives (HoR) meeting on Monday passed the ‘Financial Bill, 2079’ with majority votes. The bill was proposed for approval from the lower house by Finance Minister Janardan Sharma. </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"">Lawmakers during the House meeting had stressed on the need to reforms the existing tax system. They argued that that the taxpayers were facing additional burden as the ambit of tax remained unchanged. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations, lawmakers argued that income tax rate in Nepal was higher compared to neighbouring countries including India and Pakistan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also drew the government’s attention to higher tax on import of e-vehicles, terming it a contradictory move at a time when discussions were underway to increase power consumption. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers Bharat Shah, Metmani Chaudhary, Prakash Snehi, Dibya Mani Rajbhandari, Gajendra Bahadur Mahat, Gokul Banskota and others took part in the deliberation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Finance Minister Sharma said that mega industries are given subsidy on power tariffs so as to reduce trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Saying that some tax rates have been revised and subsidy is also given, the Finance Minister informed the House that tax rates on import of beetle nuts and peas have been increased to control smuggling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, taxes have been raised on goods that are hazardous to human health and also on luxury goods, according to the finance minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tax rates on steel and iron has not been changed by targeting any of the industrial group, Minister Sharma shared. He claimed that the budget was unveiled by keeping the interests of farmers, poor people, working class people and entrepreneurs at the centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15219', 'image' => '20220621074220_20220615014416_ROS_KTM-4187.jpg', 'article_date' => '2022-06-21 07:41:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15478', 'article_category_id' => '1', 'title' => 'SC Orders Government not to Implement its Decision to Restrict Loan Disbursement ', 'sub_title' => '', 'summary' => 'June 21: The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loan from banks and financial institutions by accepting land in collateral. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loan from banks and financial institutions by accepting land in collateral. The apex court order also overruled the government's decision to stop the sale of land plots without demarcation of land classified into different categories. </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"">It may be noted that the government had issued the Land Use Regulation 2022 recently classifying land into different categories, thereby preventing the sale of land plots before categorizing lands for different purpose.</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 Ministry of Land Management had written to its line agencies preventing the sale of land plots without determining the agricultural land and differentiating it from residential land. The government argued that it had issued the Land Use Regulation to protect the agricultural land where people are not allowed to build houses. This, however, has caused serious problems to the general public who need to acquire loans or to sell their land as the concerned bodies of the government are yet to demarcate the land. </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"">Acting on a writ petition filed at the Supreme Court, a single bench of Justice Ishwar Prasad Khatiwada issued such order stating that stopping the loan disbursement will have an unfitting impact on the citizens’ fundamental rights. </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 interim order, the government has been asked not to implement its decision until the case is settled. The SC order states that the provision of loan imbursement from the banks and financial institutions should not be stopped as the classification of land by the government is not likely to happen soon. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15218', 'image' => '20220621075738_20220527124927_Supreme Court.jpg', 'article_date' => '2022-06-21 07:56:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15475', 'article_category_id' => '1', 'title' => 'Lawmakers Decry Fuel Price Hike ', 'sub_title' => '', 'summary' => 'June 20: Lawmakers have expressed objection to the decision of Nepal Oil Corporation (NOC) to hike the price of petroleum products.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 20: Lawmakers have expressed objection to the decision of Nepal Oil Corporation (NOC) to hike the price of petroleum products. Speaking at a meeting of the House of Representatives on Monday, the MPs argued that the price was increased exorbitantly. NOC had announced a hike in the prices of fuel effective from June 20. With the latest price hike, a litre of petrol costs Rs 199. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the House meeting, the lawmakers said that the fuel price has been increased four times in the last one month alone, which has badly hit the daily life of the common man. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the start of the meeting, CPN(UML)'s Padma Aryal alleged the government of hiking the price of petroleum products to such an extent that it will 'break the back' of the people since it spurs market inflation due to the increase in the price of commodities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said the daily life of the people has been affected due to the frequent hike in the price of fuel. Aryal argued that the House session could not move ahead until the government furnished a justified explanation for the price hike. She also suspected of financial irregularities in the government's decision of installing the embossed number plate on vehicles. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-06-20', 'modified' => '2022-06-20', 'keywords' => 'Fuel, petrol, price hike, parliament, lawmakers, MPs', 'description' => '', 'sortorder' => '15217', 'image' => '20220620075904_Parliament.jpg', 'article_date' => '2022-06-20 19:58:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px">June 22: Airline companies operating domestic flights and helicopter service in Nepal have withdrawn their strike. The Airline Operators Association of Nepal (AOAN) had warned that the companies would suspend all flights if the Civil Aviation Authority of Nepal (CAAN) did not address their demands.</span></p> <p><span style="font-size:18px">However, the airline companies resumed service from 11 am on Wednesday fearing action from the government. But the airline operators' association said the strike has been postponed after the government expressed its commitment to resolve the issue. Yeti Airlines on Wednesday tweeted that all the postponed flights have been resumed.</span></p> <p><span style="font-size:18px">Due to the gravity of the issue, Prime Minister Sher Bahadur Deuba had held a meeting with Tourism Minister Prem Ale and CAAN Director-General Pradip Adhikari in Baluwatar to discuss the issue.</span></p> <p><span style="font-size:18px">During the discussion, the government decided to take initiative to revoke the license of the striking airline companies and arrest the protesters and take legal action against them.</span></p> <p><span style="font-size:18px">Earlier, the government had issued a warning that the operators of the airline companies would be arrested under the Emergency Services Act and their license revoked if they did not resume service taking into consideration the inconvenience it might cause to the general public.</span></p> <p><span style="font-size:18px">The government has placed the air service under essential service by publishing a notice in the Nepal Gazette on June 9. According to the notice, strikes are not allowed in sectors providing essential services, and violators could be prosecuted.</span></p> <p><span style="font-size:18px">The domestic airliners had announced a strike after CAAN decided to relocate 67 per cent of the existing aircraft and helicopters to airports outside the Kathmandu Valley for night stop.</span></p> <p><span style="font-size:18px">The Nepal Airlines Operators Association of Nepal, an umbrella organization of private airline operators, held a press conference on Tuesday and put forth the five-point demand. They had warned of suspending domestic flights from Wednesday if their demands were not addressed.</span></p> <p><span style="font-size:18px">CAAN, on the other hand, insisted that its decision will not be revoked. CAAN had decided to shift the parking base of helicopters and aircraft from Tribhuvan International Airport (TIA) to outside the Kathmandu Valley.</span></p> <p><span style="font-size:18px">As per the decision, helicopters and aircraft will be sent out of Kathmandu for night-stop parking and they are required to operate the first flight of the day from the base airport (stop area). <br /> According to the CAAN, the decision to shift the parking space was taken to reduce parking loads at TIA. In case of airlines companies, the decision shall come into effect from June 27 while the helicopters companies are required to implement it from June 21.</span></p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'flights, strike, airline, operators, Nepal, prime minister, tourism minister, CAAN, demand', 'description' => '', 'sortorder' => '15231', 'image' => '20220622065059_airraft.jpg', 'article_date' => '2022-06-22 18:48:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15488', 'article_category_id' => '1', 'title' => 'Shares Transaction of any Company will not be Blocked due to Merger and Acquisition', 'sub_title' => '', 'summary' => 'June 22: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has assured that the trading of shares of any company will not be halted due to merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">June 22: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has assured that the trading of shares of any company will not be halted due to merger and acquisition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a press conference held at the board on Tuesday, Chairman Hamal said that a law will be enacted to allow the trading of shares of companies going for merger and acquisition after mid-August.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"After mid-August, we will make arrangements so that the trading of shares of the company going for merger and acquisition will not be stopped. It is not appropriate to mortgage the assets of investors for years,” he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hamal expressed his commitment to implement this law. Stating that the governor was positive about the merger acquisition, he said that there should be no confusion regarding such issues. Hundreds of investors should not be saddened by the mistake made by one or two people, said Hamal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chairman Hamal said that the 19-point demand of the investors of share market will be addressed in a phase-wise manner. He also urged the agitating investors and brokers to withdraw their protests. According to Hamal, some of the demands of the protesters need to be addressed by the Nepal Rastra Bank and the Finance Ministry and the board is coordinating with them to resolve the problem.</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 also said that the investors need not worry about the bearish trend of the share market because it is mainly due to the liquidity crisis in the banking system at present. According to Hamal, the situation of share market in other countries is also similar to that of Nepal.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'share, transaction, liquidity, banking, merger, acquisition, NRB, Finance, Ministry', 'description' => '', 'sortorder' => '15230', 'image' => '20220622042335_share.jpg', 'article_date' => '2022-06-22 16:22:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15487', 'article_category_id' => '1', 'title' => 'Government’s Import Policy Fails', 'sub_title' => '', 'summary' => 'June 22: The policy adopted by the government to reduce imports after facing increasing pressure on the foreign exchange reserves has failed miserably.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 22: The policy adopted by the government to reduce imports after facing increasing pressure on the foreign exchange reserves has failed miserably.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Despite the government's policy of tightening the credit flow for import through Nepal Rastra Bank (NRB), banning the import of luxury goods through the Ministry of Supply and reducing the import of fuel by giving two days public holiday, the imports have increased instead of decreasing.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">According to the data published by the Department of Customs on Tuesday, the imports have increased by Rs 21 billion from mid-May to mid-June as compared to the previous month. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">NRB had introduced a policy to discourage imports from last December after the balance of payments deficit increased due to high imports while the foreign exchange reserves were declining. During mid-December, the central bank made provision for keeping cash margin while opening LC for import of 20 different types of goods including cosmetics and luxury goods. Similarly, the gold import quota was halved to 10 kg per day in the first week of March.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Similarly, the government banned the import of 10 different types of luxury goods on April 27. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The Ministry of Industry, Commerce and Supplies prohibited the imports of mobile sets worth more than USD 600, color televisions of over 32 inches, vehicles including jeep, cars and vans, and motorcycles of over 250 cc, food, liquor, crackers, chips, cigarettes and tobacco products, cards and toys till mid-July. Also, the government decided to give two days leave per week from mid-May to mid-June citing that it would reduce the consumption of petroleum products.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Imports did not decline even five months after the government adopted the policy to discourage imports. Imports fell by Rs 20 billion from mid-April to mid-May as compared to the previous month and were limited to Rs 137 billion. The imports of mid-April to mid-May are the lowest this year. The imports of mid-May to mid-June were about Rs 21 billion more than that of mid-April to mid-May. Figures from the department show that goods worth Rs 158 billion were imported in May.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Diesel, petrol, LPG and cast iron top the list of imports. Diesel was imported the most amounting to Rs 145.21 billion as of mid-June.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Soybean oil is Nepal’s prime export, whose export amounted to Rs 46.58 billion in the last 11 months. As Nepal imports the raw material required for soybean oil production, it is the fourth largest importer of crude soybean oil. Crude soybean oil worth Rs 53.25 billion was imported in the last 11 months, as per the customs data.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => '', 'description' => '', 'sortorder' => '15229', 'image' => '20220622023528_Trade.jpg', 'article_date' => '2022-06-22 14:34:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15486', 'article_category_id' => '1', 'title' => 'HAN Urges Central Bank to Increase Concessional Loan to Rs 500 Million', 'sub_title' => '', 'summary' => 'June 22: The Hotel Association Nepal (HAN) has submitted a 10-point suggestions to the central bank to be included in the monetary policy for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 22: The Hotel Association Nepal (HAN) has submitted a 10-point suggestions to the central bank to be included in the monetary policy for the upcoming fiscal year. HAN has suggested increasing the concessional loan from Rs 200 million to Rs 500 million and reducing the credit card fee from 3 percent to 1 percent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">HAN’s acting president Binayak Shah, general secretary Sajan Shakya and other officials met Governor of Nepal Rastra Bank Maha Prasad Adhikari and presented suggestions on monetary policy. On the occasion, Shah said that the tourism sector, especially the hotel industry, has been most affected by the Covid-19 pandemic and it is difficult to operate the hotels.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">He also said that the budget of the Fiscal Year 2022/23 does not address the problems of the tourism and hotel industry. Shah expressed confidence that the issues left out in the budget will be covered by the monetary policy. Stating that the financial condition of the hotel and tourism industry has not eased so far, HAN demanded arrangements for imposition of no penalty and interest till mid-July 2081 BS.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">HAN also suggested rescheduling the existing loans with an extension of at least 3 years. HAN requested that the interest on the rescheduled loan be repaid in installments for a period longer than mid-July. HAN demanded that the hotels should provide dollar prepaid cards in the name of the designated person and make arrangements for easy acceptance of Indian Rs 500 and Rs 2,000 notes as well.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'Hotel, concessional, loan, HAN, pandemic, Covid-19, tourism', 'description' => '', 'sortorder' => '15228', 'image' => '20220622013946_Hotel.jpg', 'article_date' => '2022-06-22 13:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15485', 'article_category_id' => '1', 'title' => 'Country’s Trade Deficit Reaches Rs 1577 Billion in 11 Months ', 'sub_title' => '', 'summary' => 'June 22: The country has recorded a trade deficit of Rs 1577 billion in the first 11 months of the current fiscal year, which is 25 per cent more compared to the last fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 22: The country has recorded a trade deficit of Rs 1577 billion in the first 11 months of the current fiscal year, which is 25 per cent more compared to the last fiscal year. </span></span></span><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, the country’s trade deficit was Rs 1262.11 billion in the same period of last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the review period, country’s foreign trade stood at Rs 1949 billion, which is 29.5 per cent more than the previous fiscal year. In the first 11 months of the current fiscal year, the country imported goods worth Rs 1763.22 billion against Rs 1383.36 billion in the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal exported goods worth Rs 185.83 billion in the first 11 months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the review period, Nepal imported petroleum products of Rs 267.3 billion. Among the petroleum products, diesel topped the import list at Rs 145.22 billion while cooking gas (LPG) worth Rs 59.16 billion was imported during the 11 months of the current fiscal year. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'Trade, deficit, import, export, Nepal, petroleum, diesel, customs, department, fiscal year', 'description' => '', 'sortorder' => '15227', 'image' => '20220622075829_trade_imbalance.jpg', 'article_date' => '2022-06-22 07:57:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15484', 'article_category_id' => '1', 'title' => ' Suspension of Domestic Flights Unacceptable: CAAN ', 'sub_title' => '', 'summary' => 'June 22: The Civil Aviation Authority of Nepal (CAAN) has made it clear that the forceful act of the airlines companies to suspend domestic flights from Wednesday is not acceptable. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 22: The Civil Aviation Authority of Nepal (CAAN) has made it clear that the forceful act of the airlines companies to suspend domestic flights from Wednesday is not acceptable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organizing a news conference on Tuesday, CAAN urged the airlines companies not to suspend the flights stating that its prior decisions were taken to lessen the existing pressure on Tribhuvan International Airport and for the strengthening of the aviation safety. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of CAAN Pradip Adhikari said the airlines companies are against its decision to shy away from their responsibility. He urged them to be responsible towards public service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The airline companies should be responsible in sensitive issue like aviation service. CAAN will not remain mute if people suffered from the strike,” Director General Adhikari added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the Airlines Operators Association of Nepal (AOAN) had warned to suspend all emergency and scheduled flights from Wednesday if CAAN was not ready to revoke its 'controversial' decision. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, standing firm on its ground, CAAN's Director General Adhikari insisted the airline companies should go to the particular sites for their night-stop where the airline companies received approval for their base during the time of acquiring Air Operator Certificate (AOC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Earlier, the CAAN had decided to shift the parking base of helicopters and aircraft from Tribhuvan International Airport (TIA) to outside the Kathmandu Valley. </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 decision, helicopters and aircraft will be sent out of Kathmandu for night-stop parking and they are required to operate the first flight of the day from the base airport (stop area). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the CAAN, the decision to shift the parking space was taken to reduce parking loads at TIA. In case of airlines companies, the decision shall come into effect from June 27 while the helicopters companies are required to implement it from June 21. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'flights, airline, companies, suspension, CAAN, domestic, airport', 'description' => '', 'sortorder' => '15226', 'image' => '20220622075703_caan.jpg', 'article_date' => '2022-06-22 07:56:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15483', 'article_category_id' => '1', 'title' => 'Airline Operators Warn of Suspending Flights from June 22', 'sub_title' => '', 'summary' => 'June 21: The Airline Operators Association of Nepal (AOAN) has warned of suspending all domestic flights from June 22 if the government fails to address the long-term problems faced by the country’s aviation sector.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 21: The Airline Operators Association of Nepal (AOAN) has warned of suspending all domestic flights from June 22 if the government fails to address the long-term problems faced by the country’s aviation sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The umbrella body of airline companies of Nepal has forwarded a 5-point demand to the government and urged it to address them immediately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The airline operators said that they will suspend flights if their demand is not addressed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Organising a press conference in the capital on Tuesday, AOAN unveiled the 5-point demand and warned of suspending all flights from Wednesday if the government fails to address them.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">One of the major demands of the association is to revoke the hike in passenger service charge, and other charges related to landing, parking, navigation among others provisioned in the Airport Service Charge Regulation 2078. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">AOAN has also demanded a permanent helipad for operating helicopter service at the Tribhuvan International Airport and space for a hangar for the repair and maintenance of aircraft.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The association has also demanded the government to take immediate steps to remove Nepal from the blacklist of European Union. AOAN has concluded that the EU’s decision to blacklist Nepal on the pretext of aviation safety has affected the tourism sector of the country.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15225', 'image' => '20220621065728_1655799740.1600647868.ghj.jpg', 'article_date' => '2022-06-21 18:56:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15482', 'article_category_id' => '1', 'title' => ''Fuel Price Hike Hits Construction Industry'', 'sub_title' => '', 'summary' => 'June 21: The Federation of Contractors Association of Nepal (FCAN), the umbrella body of construction entrepreneurs, has said that the construction industry is on the verge of coming to a standstill due to the excessive rise in the price of construction materials as a result of repeated price hikes of fuel. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">June 21: The Federation of Contractors Association of Nepal (FCAN), the umbrella body of construction entrepreneurs, has said that the construction industry is on the verge of coming to a standstill due to the excessive rise in the price of construction materials as a result of repeated price hikes of fuel. According to the federation, the recent price hike of Rs 21 per liter on petrol and Rs 27 per liter on diesel and kerosene will further affect the construction industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The federation said that projects of national pride and other vital construction projects are likely to be shut down due to sharp rise in fuel prices. The federation is of the view that the government's latest move reflects its indifference towards the construction industry as the government has not provided any relief to the construction businessmen despite the continuous rise in prices.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the federation, thousands of construction entrepreneurs, their families and millions of people dependent on the industry have been affected by the unpredictable rise in prices. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A statement issued by FCAN General Secretary Roshan Dahal on Monday states that the federation has been shocked by the sudden rise in prices at a time when the talks between the federation and stakeholders on price adjustment in accordance with the Public Procurement Act and regulations was underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FCAN has said that the rise in prices of fuel is affecting the overall development of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Meanwhile, the federation has accused the government of giving undue favour to the insurance companies by increasing the cost of infrastructure development through the provision made by the Insurance Directive-2078 BS. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15224', 'image' => '20220621063857_1655767050.Clipboard35.jpg', 'article_date' => '2022-06-21 18:38:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15481', 'article_category_id' => '1', 'title' => 'Transportation Charge Increases through Automatic Pricing Mechanism', 'sub_title' => '', 'summary' => 'June 21: With the hike in fuel prices, transportation fare has also gone up.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 21: With the hike in fuel prices, transportation fare has also gone up. The Department of Transport Management increased the transportation fares of land route while the Airline Operators Association of Nepal increased the fares of air transport. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The department informed that the fare of inter-state public transport has been increased in accordance to the automatic pricing mechanism. Under this system, when the price of fuel goes up or down by 5 percent, the fares can be adjusted accordingly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The department issued a statement on Monday announcing the increase in the fares of inter-state public transport by 5.30 percent. In the case of freighters, the fare has been increased by 6.94 percent for those traveling in the hill region and 7.7 percent for those traveling in the Terai. According to the department, the fare of vehicles operating on local routes remains the same.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Nepal Oil Corporation increased the prices of petrol, diesel and aviation fuel with effect from Sunday night. The corporation increased the price of petrol by Rs 21, diesel by Rs 27 and aviation fuel by Rs 19 per liter. The price of petrol went up to Rs 199 per liter, diesel to Rs 192 per liter and aviation fuel to Rs 185 per liter.</span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => 'Transportation fare, hike, petrol, fuel, automatic pricing mechanism', 'description' => '', 'sortorder' => '15223', 'image' => '20220621043154_Transport.jpg', 'article_date' => '2022-06-21 16:31:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15480', 'article_category_id' => '1', 'title' => 'NOC Decides not to Sell Fuel at a Loss', 'sub_title' => '', 'summary' => 'June 21: Nepal Oil Corporation (NOC) has decided not to sell petroleum products at a loss.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">June 21: Nepal Oil Corporation (NOC) has decided not to sell petroleum products at a loss. The state-owned NOC stated that such a decision was made since it cannot take any more losses. Until now, the corporation had been selling fuel at a lower price than the actual cost.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The corporation held a press conference at the Ministry of Industry, Commerce and Supplies on Monday and informed that it is no longer going sell petroleum products at a loss.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC officials said that the price of petroleum products was increased excessively on Sunday for the same purpose. The corporation increased the price of petrol by Rs 21 per liter and diesel by Rs 27 per liter. According to the NOC, it still has to purchase petrol at Rs 212.58 per liter and diesel at Rs 205.95 per liter. Therefore, the NOC is still incurring a loss of Rs 13.58 per liter on petrol and Rs 13.95 per liter on diesel. The corporation also informed that the price of petroleum products has been adjusted by reducing the infrastructure tax.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Earlier, NOC had been selling petrol at a loss of Rs 31.28 per liter and diesel at Rs 37.16 per liter.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The NOC stated that it needs to sell petroleum products at the cost price as it is no longer in a position to bear such excessive losses.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC also informed that a taskforce is being formed to study the price of unused gas. The corporation says further decisions will be made on the basis of the findings of the study.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC Executive Director Umesh Prasad Thani said that there is a high probability of fixing two different rates for cooking gas (liquefied petroleum gas). He said that the price of gas for household use and industrial purposes will be fixed differently. A taskforce led by the Director General of the Department of Quality Control and Measurement is studying this issue. The size and color of gas cylinders for household and industrial purposes will be made different.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => 'NOC, loss, fuel, petrol, diesel, LPG', 'description' => '', 'sortorder' => '15222', 'image' => '20220621025013_Petrol-Price-Increase.jpg', 'article_date' => '2022-06-21 14:48:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15479', 'article_category_id' => '1', 'title' => 'Aviation Fare Goes Up ', 'sub_title' => '', 'summary' => 'June 21: The Airline Operators Association of Nepal (AOAN) has increased the airfare for domestic flights citing the increase in price of petroleum products.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">June 21: The Airline Operators Association of Nepal (AOAN) has increased the airfare for domestic flights citing the increase in price of petroleum products. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Issuing a notice on Monday, the association said that the new airfare shall come into effect from Wednesday (June 22). <br /> AOAN said that the airfare for domestic flights has been increased by a minimum of Rs 170 to the maximum of Rs 840. <br /> As per the new price list, the airfare for Kathmandu-Dhangadhi flight has been increased by Rs 840. Tickets for the route will now cost Rs 16,805. This is the highest increase in fuel surcharge. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The fare of mountain flights from Kathmandu has been increased by Rs 655 per ticket, which will now cost Rs 14,720.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Likewise, the fare along Kathmandu-Nepalgunj rout has been increased by Rs 620 and is now fixed at Rs 13,815 per passenger. The fuel surcharge for Kathmandu-Bhadrapur flights has been increased by Rs 570. Similarly, the fare of Kathmandu-Biratnagar flights has been increased by Rs 455 and that of Kathmandu-Bhairahawa by Rs 395. Now, the Kathmandu-Simara flight is the cheapest flight from Kathmandu. The surcharge on this route has been increased by Rs 170.</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""><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The decision to hike the airfare comes after the state-owned Nepal Oil Corporation increased the price of aviation turbine fuel for domestic flights by Rs 19 per litre on Sunday. </span></span> </span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15221', 'image' => '20220621080526_B9C9CD73-A9C9-4291-A35E-759CE72B8838.jpeg', 'article_date' => '2022-06-21 08:02:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15477', 'article_category_id' => '1', 'title' => 'Two more International Airline Companies likely to Start Flights to Bhairahawa Airport soon', 'sub_title' => '', 'summary' => ' June 21: Two more airline companies from abroad will be providing services from the Bhairahawa-based Gautam Buddha International Airport.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: Two more airline companies from abroad will be providing services from the Bhairahawa-based Gautam Buddha International Airport. </span><span style="font-family:"Arial Unicode MS","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) said Air Arabia and the Fly Dubai have proceeded with rending their services from the airport that has been formally opened since May 16. Both the international airline companies are based in the United Arab Emirates (UAE). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN director general Pradip Adhikari said the companies have expressed interest for getting connected to the airport for commercial flights on a regular basis from Bhairahawa within the next two weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that the demand from Bhairahawa for flights towards labour destination countries is high. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Jazeera Airways that had launched regular flights three days a week to and from the airport since its inauguration ispreparing to provide its service throughout the week, according to the airport’s chief Govinda Prasad Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jazeera Airways charges Rs 33,000 as a minimum fare for a Kathmandu-Kuwait flight and a 20 percent discount is available on a two-way ticketing. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15220', 'image' => '20220621074316_FlyDubai-8_MAX_(30728990597).jpg', 'article_date' => '2022-06-21 07:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15476', 'article_category_id' => '1', 'title' => 'House of Representatives Passes Financial Bill with Majority Votes', 'sub_title' => ' MPs argue that income tax in Nepal was higher than that of neighbouring countries', 'summary' => 'June 21: The House of Representatives (HoR) meeting on Monday passed the ‘Financial Bill, 2079’ with majority votes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: The House of Representatives (HoR) meeting on Monday passed the ‘Financial Bill, 2079’ with majority votes. The bill was proposed for approval from the lower house by Finance Minister Janardan Sharma. </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"">Lawmakers during the House meeting had stressed on the need to reforms the existing tax system. They argued that that the taxpayers were facing additional burden as the ambit of tax remained unchanged. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations, lawmakers argued that income tax rate in Nepal was higher compared to neighbouring countries including India and Pakistan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also drew the government’s attention to higher tax on import of e-vehicles, terming it a contradictory move at a time when discussions were underway to increase power consumption. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers Bharat Shah, Metmani Chaudhary, Prakash Snehi, Dibya Mani Rajbhandari, Gajendra Bahadur Mahat, Gokul Banskota and others took part in the deliberation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Finance Minister Sharma said that mega industries are given subsidy on power tariffs so as to reduce trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Saying that some tax rates have been revised and subsidy is also given, the Finance Minister informed the House that tax rates on import of beetle nuts and peas have been increased to control smuggling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, taxes have been raised on goods that are hazardous to human health and also on luxury goods, according to the finance minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tax rates on steel and iron has not been changed by targeting any of the industrial group, Minister Sharma shared. He claimed that the budget was unveiled by keeping the interests of farmers, poor people, working class people and entrepreneurs at the centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15219', 'image' => '20220621074220_20220615014416_ROS_KTM-4187.jpg', 'article_date' => '2022-06-21 07:41:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15478', 'article_category_id' => '1', 'title' => 'SC Orders Government not to Implement its Decision to Restrict Loan Disbursement ', 'sub_title' => '', 'summary' => 'June 21: The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loan from banks and financial institutions by accepting land in collateral. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loan from banks and financial institutions by accepting land in collateral. The apex court order also overruled the government's decision to stop the sale of land plots without demarcation of land classified into different categories. </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"">It may be noted that the government had issued the Land Use Regulation 2022 recently classifying land into different categories, thereby preventing the sale of land plots before categorizing lands for different purpose.</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 Ministry of Land Management had written to its line agencies preventing the sale of land plots without determining the agricultural land and differentiating it from residential land. The government argued that it had issued the Land Use Regulation to protect the agricultural land where people are not allowed to build houses. This, however, has caused serious problems to the general public who need to acquire loans or to sell their land as the concerned bodies of the government are yet to demarcate the land. </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"">Acting on a writ petition filed at the Supreme Court, a single bench of Justice Ishwar Prasad Khatiwada issued such order stating that stopping the loan disbursement will have an unfitting impact on the citizens’ fundamental rights. </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 interim order, the government has been asked not to implement its decision until the case is settled. The SC order states that the provision of loan imbursement from the banks and financial institutions should not be stopped as the classification of land by the government is not likely to happen soon. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15218', 'image' => '20220621075738_20220527124927_Supreme Court.jpg', 'article_date' => '2022-06-21 07:56:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15475', 'article_category_id' => '1', 'title' => 'Lawmakers Decry Fuel Price Hike ', 'sub_title' => '', 'summary' => 'June 20: Lawmakers have expressed objection to the decision of Nepal Oil Corporation (NOC) to hike the price of petroleum products.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 20: Lawmakers have expressed objection to the decision of Nepal Oil Corporation (NOC) to hike the price of petroleum products. Speaking at a meeting of the House of Representatives on Monday, the MPs argued that the price was increased exorbitantly. NOC had announced a hike in the prices of fuel effective from June 20. With the latest price hike, a litre of petrol costs Rs 199. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the House meeting, the lawmakers said that the fuel price has been increased four times in the last one month alone, which has badly hit the daily life of the common man. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the start of the meeting, CPN(UML)'s Padma Aryal alleged the government of hiking the price of petroleum products to such an extent that it will 'break the back' of the people since it spurs market inflation due to the increase in the price of commodities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said the daily life of the people has been affected due to the frequent hike in the price of fuel. Aryal argued that the House session could not move ahead until the government furnished a justified explanation for the price hike. She also suspected of financial irregularities in the government's decision of installing the embossed number plate on vehicles. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-06-20', 'modified' => '2022-06-20', 'keywords' => 'Fuel, petrol, price hike, parliament, lawmakers, MPs', 'description' => '', 'sortorder' => '15217', 'image' => '20220620075904_Parliament.jpg', 'article_date' => '2022-06-20 19:58:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '15490', 'article_category_id' => '1', 'title' => 'Airline Operators withdraw Protest, Resume Flights ', 'sub_title' => '', 'summary' => 'June 22: Airline companies operating domestic flights and helicopter service in Nepal have withdrawn their strike. ', 'content' => '<p><span style="font-size:18px">June 22: Airline companies operating domestic flights and helicopter service in Nepal have withdrawn their strike. The Airline Operators Association of Nepal (AOAN) had warned that the companies would suspend all flights if the Civil Aviation Authority of Nepal (CAAN) did not address their demands.</span></p> <p><span style="font-size:18px">However, the airline companies resumed service from 11 am on Wednesday fearing action from the government. But the airline operators' association said the strike has been postponed after the government expressed its commitment to resolve the issue. Yeti Airlines on Wednesday tweeted that all the postponed flights have been resumed.</span></p> <p><span style="font-size:18px">Due to the gravity of the issue, Prime Minister Sher Bahadur Deuba had held a meeting with Tourism Minister Prem Ale and CAAN Director-General Pradip Adhikari in Baluwatar to discuss the issue.</span></p> <p><span style="font-size:18px">During the discussion, the government decided to take initiative to revoke the license of the striking airline companies and arrest the protesters and take legal action against them.</span></p> <p><span style="font-size:18px">Earlier, the government had issued a warning that the operators of the airline companies would be arrested under the Emergency Services Act and their license revoked if they did not resume service taking into consideration the inconvenience it might cause to the general public.</span></p> <p><span style="font-size:18px">The government has placed the air service under essential service by publishing a notice in the Nepal Gazette on June 9. According to the notice, strikes are not allowed in sectors providing essential services, and violators could be prosecuted.</span></p> <p><span style="font-size:18px">The domestic airliners had announced a strike after CAAN decided to relocate 67 per cent of the existing aircraft and helicopters to airports outside the Kathmandu Valley for night stop.</span></p> <p><span style="font-size:18px">The Nepal Airlines Operators Association of Nepal, an umbrella organization of private airline operators, held a press conference on Tuesday and put forth the five-point demand. They had warned of suspending domestic flights from Wednesday if their demands were not addressed.</span></p> <p><span style="font-size:18px">CAAN, on the other hand, insisted that its decision will not be revoked. CAAN had decided to shift the parking base of helicopters and aircraft from Tribhuvan International Airport (TIA) to outside the Kathmandu Valley.</span></p> <p><span style="font-size:18px">As per the decision, helicopters and aircraft will be sent out of Kathmandu for night-stop parking and they are required to operate the first flight of the day from the base airport (stop area). <br /> According to the CAAN, the decision to shift the parking space was taken to reduce parking loads at TIA. In case of airlines companies, the decision shall come into effect from June 27 while the helicopters companies are required to implement it from June 21.</span></p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'flights, strike, airline, operators, Nepal, prime minister, tourism minister, CAAN, demand', 'description' => '', 'sortorder' => '15231', 'image' => '20220622065059_airraft.jpg', 'article_date' => '2022-06-22 18:48:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15488', 'article_category_id' => '1', 'title' => 'Shares Transaction of any Company will not be Blocked due to Merger and Acquisition', 'sub_title' => '', 'summary' => 'June 22: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has assured that the trading of shares of any company will not be halted due to merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">June 22: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has assured that the trading of shares of any company will not be halted due to merger and acquisition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a press conference held at the board on Tuesday, Chairman Hamal said that a law will be enacted to allow the trading of shares of companies going for merger and acquisition after mid-August.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"After mid-August, we will make arrangements so that the trading of shares of the company going for merger and acquisition will not be stopped. It is not appropriate to mortgage the assets of investors for years,” he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hamal expressed his commitment to implement this law. Stating that the governor was positive about the merger acquisition, he said that there should be no confusion regarding such issues. Hundreds of investors should not be saddened by the mistake made by one or two people, said Hamal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chairman Hamal said that the 19-point demand of the investors of share market will be addressed in a phase-wise manner. He also urged the agitating investors and brokers to withdraw their protests. According to Hamal, some of the demands of the protesters need to be addressed by the Nepal Rastra Bank and the Finance Ministry and the board is coordinating with them to resolve the problem.</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 also said that the investors need not worry about the bearish trend of the share market because it is mainly due to the liquidity crisis in the banking system at present. According to Hamal, the situation of share market in other countries is also similar to that of Nepal.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'share, transaction, liquidity, banking, merger, acquisition, NRB, Finance, Ministry', 'description' => '', 'sortorder' => '15230', 'image' => '20220622042335_share.jpg', 'article_date' => '2022-06-22 16:22:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15487', 'article_category_id' => '1', 'title' => 'Government’s Import Policy Fails', 'sub_title' => '', 'summary' => 'June 22: The policy adopted by the government to reduce imports after facing increasing pressure on the foreign exchange reserves has failed miserably.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 22: The policy adopted by the government to reduce imports after facing increasing pressure on the foreign exchange reserves has failed miserably.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Despite the government's policy of tightening the credit flow for import through Nepal Rastra Bank (NRB), banning the import of luxury goods through the Ministry of Supply and reducing the import of fuel by giving two days public holiday, the imports have increased instead of decreasing.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">According to the data published by the Department of Customs on Tuesday, the imports have increased by Rs 21 billion from mid-May to mid-June as compared to the previous month. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">NRB had introduced a policy to discourage imports from last December after the balance of payments deficit increased due to high imports while the foreign exchange reserves were declining. During mid-December, the central bank made provision for keeping cash margin while opening LC for import of 20 different types of goods including cosmetics and luxury goods. Similarly, the gold import quota was halved to 10 kg per day in the first week of March.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Similarly, the government banned the import of 10 different types of luxury goods on April 27. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The Ministry of Industry, Commerce and Supplies prohibited the imports of mobile sets worth more than USD 600, color televisions of over 32 inches, vehicles including jeep, cars and vans, and motorcycles of over 250 cc, food, liquor, crackers, chips, cigarettes and tobacco products, cards and toys till mid-July. Also, the government decided to give two days leave per week from mid-May to mid-June citing that it would reduce the consumption of petroleum products.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Imports did not decline even five months after the government adopted the policy to discourage imports. Imports fell by Rs 20 billion from mid-April to mid-May as compared to the previous month and were limited to Rs 137 billion. The imports of mid-April to mid-May are the lowest this year. The imports of mid-May to mid-June were about Rs 21 billion more than that of mid-April to mid-May. Figures from the department show that goods worth Rs 158 billion were imported in May.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Diesel, petrol, LPG and cast iron top the list of imports. Diesel was imported the most amounting to Rs 145.21 billion as of mid-June.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Soybean oil is Nepal’s prime export, whose export amounted to Rs 46.58 billion in the last 11 months. As Nepal imports the raw material required for soybean oil production, it is the fourth largest importer of crude soybean oil. Crude soybean oil worth Rs 53.25 billion was imported in the last 11 months, as per the customs data.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => '', 'description' => '', 'sortorder' => '15229', 'image' => '20220622023528_Trade.jpg', 'article_date' => '2022-06-22 14:34:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15486', 'article_category_id' => '1', 'title' => 'HAN Urges Central Bank to Increase Concessional Loan to Rs 500 Million', 'sub_title' => '', 'summary' => 'June 22: The Hotel Association Nepal (HAN) has submitted a 10-point suggestions to the central bank to be included in the monetary policy for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 22: The Hotel Association Nepal (HAN) has submitted a 10-point suggestions to the central bank to be included in the monetary policy for the upcoming fiscal year. HAN has suggested increasing the concessional loan from Rs 200 million to Rs 500 million and reducing the credit card fee from 3 percent to 1 percent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">HAN’s acting president Binayak Shah, general secretary Sajan Shakya and other officials met Governor of Nepal Rastra Bank Maha Prasad Adhikari and presented suggestions on monetary policy. On the occasion, Shah said that the tourism sector, especially the hotel industry, has been most affected by the Covid-19 pandemic and it is difficult to operate the hotels.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">He also said that the budget of the Fiscal Year 2022/23 does not address the problems of the tourism and hotel industry. Shah expressed confidence that the issues left out in the budget will be covered by the monetary policy. Stating that the financial condition of the hotel and tourism industry has not eased so far, HAN demanded arrangements for imposition of no penalty and interest till mid-July 2081 BS.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">HAN also suggested rescheduling the existing loans with an extension of at least 3 years. HAN requested that the interest on the rescheduled loan be repaid in installments for a period longer than mid-July. HAN demanded that the hotels should provide dollar prepaid cards in the name of the designated person and make arrangements for easy acceptance of Indian Rs 500 and Rs 2,000 notes as well.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'Hotel, concessional, loan, HAN, pandemic, Covid-19, tourism', 'description' => '', 'sortorder' => '15228', 'image' => '20220622013946_Hotel.jpg', 'article_date' => '2022-06-22 13:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15485', 'article_category_id' => '1', 'title' => 'Country’s Trade Deficit Reaches Rs 1577 Billion in 11 Months ', 'sub_title' => '', 'summary' => 'June 22: The country has recorded a trade deficit of Rs 1577 billion in the first 11 months of the current fiscal year, which is 25 per cent more compared to the last fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 22: The country has recorded a trade deficit of Rs 1577 billion in the first 11 months of the current fiscal year, which is 25 per cent more compared to the last fiscal year. </span></span></span><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, the country’s trade deficit was Rs 1262.11 billion in the same period of last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the review period, country’s foreign trade stood at Rs 1949 billion, which is 29.5 per cent more than the previous fiscal year. In the first 11 months of the current fiscal year, the country imported goods worth Rs 1763.22 billion against Rs 1383.36 billion in the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal exported goods worth Rs 185.83 billion in the first 11 months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the review period, Nepal imported petroleum products of Rs 267.3 billion. Among the petroleum products, diesel topped the import list at Rs 145.22 billion while cooking gas (LPG) worth Rs 59.16 billion was imported during the 11 months of the current fiscal year. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'Trade, deficit, import, export, Nepal, petroleum, diesel, customs, department, fiscal year', 'description' => '', 'sortorder' => '15227', 'image' => '20220622075829_trade_imbalance.jpg', 'article_date' => '2022-06-22 07:57:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15484', 'article_category_id' => '1', 'title' => ' Suspension of Domestic Flights Unacceptable: CAAN ', 'sub_title' => '', 'summary' => 'June 22: The Civil Aviation Authority of Nepal (CAAN) has made it clear that the forceful act of the airlines companies to suspend domestic flights from Wednesday is not acceptable. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 22: The Civil Aviation Authority of Nepal (CAAN) has made it clear that the forceful act of the airlines companies to suspend domestic flights from Wednesday is not acceptable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organizing a news conference on Tuesday, CAAN urged the airlines companies not to suspend the flights stating that its prior decisions were taken to lessen the existing pressure on Tribhuvan International Airport and for the strengthening of the aviation safety. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of CAAN Pradip Adhikari said the airlines companies are against its decision to shy away from their responsibility. He urged them to be responsible towards public service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The airline companies should be responsible in sensitive issue like aviation service. CAAN will not remain mute if people suffered from the strike,” Director General Adhikari added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the Airlines Operators Association of Nepal (AOAN) had warned to suspend all emergency and scheduled flights from Wednesday if CAAN was not ready to revoke its 'controversial' decision. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, standing firm on its ground, CAAN's Director General Adhikari insisted the airline companies should go to the particular sites for their night-stop where the airline companies received approval for their base during the time of acquiring Air Operator Certificate (AOC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Earlier, the CAAN had decided to shift the parking base of helicopters and aircraft from Tribhuvan International Airport (TIA) to outside the Kathmandu Valley. </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 decision, helicopters and aircraft will be sent out of Kathmandu for night-stop parking and they are required to operate the first flight of the day from the base airport (stop area). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the CAAN, the decision to shift the parking space was taken to reduce parking loads at TIA. In case of airlines companies, the decision shall come into effect from June 27 while the helicopters companies are required to implement it from June 21. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'flights, airline, companies, suspension, CAAN, domestic, airport', 'description' => '', 'sortorder' => '15226', 'image' => '20220622075703_caan.jpg', 'article_date' => '2022-06-22 07:56:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15483', 'article_category_id' => '1', 'title' => 'Airline Operators Warn of Suspending Flights from June 22', 'sub_title' => '', 'summary' => 'June 21: The Airline Operators Association of Nepal (AOAN) has warned of suspending all domestic flights from June 22 if the government fails to address the long-term problems faced by the country’s aviation sector.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 21: The Airline Operators Association of Nepal (AOAN) has warned of suspending all domestic flights from June 22 if the government fails to address the long-term problems faced by the country’s aviation sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The umbrella body of airline companies of Nepal has forwarded a 5-point demand to the government and urged it to address them immediately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The airline operators said that they will suspend flights if their demand is not addressed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Organising a press conference in the capital on Tuesday, AOAN unveiled the 5-point demand and warned of suspending all flights from Wednesday if the government fails to address them.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">One of the major demands of the association is to revoke the hike in passenger service charge, and other charges related to landing, parking, navigation among others provisioned in the Airport Service Charge Regulation 2078. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">AOAN has also demanded a permanent helipad for operating helicopter service at the Tribhuvan International Airport and space for a hangar for the repair and maintenance of aircraft.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The association has also demanded the government to take immediate steps to remove Nepal from the blacklist of European Union. AOAN has concluded that the EU’s decision to blacklist Nepal on the pretext of aviation safety has affected the tourism sector of the country.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15225', 'image' => '20220621065728_1655799740.1600647868.ghj.jpg', 'article_date' => '2022-06-21 18:56:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15482', 'article_category_id' => '1', 'title' => ''Fuel Price Hike Hits Construction Industry'', 'sub_title' => '', 'summary' => 'June 21: The Federation of Contractors Association of Nepal (FCAN), the umbrella body of construction entrepreneurs, has said that the construction industry is on the verge of coming to a standstill due to the excessive rise in the price of construction materials as a result of repeated price hikes of fuel. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">June 21: The Federation of Contractors Association of Nepal (FCAN), the umbrella body of construction entrepreneurs, has said that the construction industry is on the verge of coming to a standstill due to the excessive rise in the price of construction materials as a result of repeated price hikes of fuel. According to the federation, the recent price hike of Rs 21 per liter on petrol and Rs 27 per liter on diesel and kerosene will further affect the construction industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The federation said that projects of national pride and other vital construction projects are likely to be shut down due to sharp rise in fuel prices. The federation is of the view that the government's latest move reflects its indifference towards the construction industry as the government has not provided any relief to the construction businessmen despite the continuous rise in prices.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the federation, thousands of construction entrepreneurs, their families and millions of people dependent on the industry have been affected by the unpredictable rise in prices. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A statement issued by FCAN General Secretary Roshan Dahal on Monday states that the federation has been shocked by the sudden rise in prices at a time when the talks between the federation and stakeholders on price adjustment in accordance with the Public Procurement Act and regulations was underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FCAN has said that the rise in prices of fuel is affecting the overall development of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Meanwhile, the federation has accused the government of giving undue favour to the insurance companies by increasing the cost of infrastructure development through the provision made by the Insurance Directive-2078 BS. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15224', 'image' => '20220621063857_1655767050.Clipboard35.jpg', 'article_date' => '2022-06-21 18:38:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15481', 'article_category_id' => '1', 'title' => 'Transportation Charge Increases through Automatic Pricing Mechanism', 'sub_title' => '', 'summary' => 'June 21: With the hike in fuel prices, transportation fare has also gone up.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 21: With the hike in fuel prices, transportation fare has also gone up. The Department of Transport Management increased the transportation fares of land route while the Airline Operators Association of Nepal increased the fares of air transport. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The department informed that the fare of inter-state public transport has been increased in accordance to the automatic pricing mechanism. Under this system, when the price of fuel goes up or down by 5 percent, the fares can be adjusted accordingly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The department issued a statement on Monday announcing the increase in the fares of inter-state public transport by 5.30 percent. In the case of freighters, the fare has been increased by 6.94 percent for those traveling in the hill region and 7.7 percent for those traveling in the Terai. According to the department, the fare of vehicles operating on local routes remains the same.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Nepal Oil Corporation increased the prices of petrol, diesel and aviation fuel with effect from Sunday night. The corporation increased the price of petrol by Rs 21, diesel by Rs 27 and aviation fuel by Rs 19 per liter. The price of petrol went up to Rs 199 per liter, diesel to Rs 192 per liter and aviation fuel to Rs 185 per liter.</span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => 'Transportation fare, hike, petrol, fuel, automatic pricing mechanism', 'description' => '', 'sortorder' => '15223', 'image' => '20220621043154_Transport.jpg', 'article_date' => '2022-06-21 16:31:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15480', 'article_category_id' => '1', 'title' => 'NOC Decides not to Sell Fuel at a Loss', 'sub_title' => '', 'summary' => 'June 21: Nepal Oil Corporation (NOC) has decided not to sell petroleum products at a loss.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">June 21: Nepal Oil Corporation (NOC) has decided not to sell petroleum products at a loss. The state-owned NOC stated that such a decision was made since it cannot take any more losses. Until now, the corporation had been selling fuel at a lower price than the actual cost.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The corporation held a press conference at the Ministry of Industry, Commerce and Supplies on Monday and informed that it is no longer going sell petroleum products at a loss.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC officials said that the price of petroleum products was increased excessively on Sunday for the same purpose. The corporation increased the price of petrol by Rs 21 per liter and diesel by Rs 27 per liter. According to the NOC, it still has to purchase petrol at Rs 212.58 per liter and diesel at Rs 205.95 per liter. Therefore, the NOC is still incurring a loss of Rs 13.58 per liter on petrol and Rs 13.95 per liter on diesel. The corporation also informed that the price of petroleum products has been adjusted by reducing the infrastructure tax.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Earlier, NOC had been selling petrol at a loss of Rs 31.28 per liter and diesel at Rs 37.16 per liter.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The NOC stated that it needs to sell petroleum products at the cost price as it is no longer in a position to bear such excessive losses.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC also informed that a taskforce is being formed to study the price of unused gas. The corporation says further decisions will be made on the basis of the findings of the study.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC Executive Director Umesh Prasad Thani said that there is a high probability of fixing two different rates for cooking gas (liquefied petroleum gas). He said that the price of gas for household use and industrial purposes will be fixed differently. A taskforce led by the Director General of the Department of Quality Control and Measurement is studying this issue. The size and color of gas cylinders for household and industrial purposes will be made different.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => 'NOC, loss, fuel, petrol, diesel, LPG', 'description' => '', 'sortorder' => '15222', 'image' => '20220621025013_Petrol-Price-Increase.jpg', 'article_date' => '2022-06-21 14:48:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15479', 'article_category_id' => '1', 'title' => 'Aviation Fare Goes Up ', 'sub_title' => '', 'summary' => 'June 21: The Airline Operators Association of Nepal (AOAN) has increased the airfare for domestic flights citing the increase in price of petroleum products.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">June 21: The Airline Operators Association of Nepal (AOAN) has increased the airfare for domestic flights citing the increase in price of petroleum products. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Issuing a notice on Monday, the association said that the new airfare shall come into effect from Wednesday (June 22). <br /> AOAN said that the airfare for domestic flights has been increased by a minimum of Rs 170 to the maximum of Rs 840. <br /> As per the new price list, the airfare for Kathmandu-Dhangadhi flight has been increased by Rs 840. Tickets for the route will now cost Rs 16,805. This is the highest increase in fuel surcharge. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The fare of mountain flights from Kathmandu has been increased by Rs 655 per ticket, which will now cost Rs 14,720.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Likewise, the fare along Kathmandu-Nepalgunj rout has been increased by Rs 620 and is now fixed at Rs 13,815 per passenger. The fuel surcharge for Kathmandu-Bhadrapur flights has been increased by Rs 570. Similarly, the fare of Kathmandu-Biratnagar flights has been increased by Rs 455 and that of Kathmandu-Bhairahawa by Rs 395. Now, the Kathmandu-Simara flight is the cheapest flight from Kathmandu. The surcharge on this route has been increased by Rs 170.</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""><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The decision to hike the airfare comes after the state-owned Nepal Oil Corporation increased the price of aviation turbine fuel for domestic flights by Rs 19 per litre on Sunday. </span></span> </span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15221', 'image' => '20220621080526_B9C9CD73-A9C9-4291-A35E-759CE72B8838.jpeg', 'article_date' => '2022-06-21 08:02:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15477', 'article_category_id' => '1', 'title' => 'Two more International Airline Companies likely to Start Flights to Bhairahawa Airport soon', 'sub_title' => '', 'summary' => ' June 21: Two more airline companies from abroad will be providing services from the Bhairahawa-based Gautam Buddha International Airport.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: Two more airline companies from abroad will be providing services from the Bhairahawa-based Gautam Buddha International Airport. </span><span style="font-family:"Arial Unicode MS","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) said Air Arabia and the Fly Dubai have proceeded with rending their services from the airport that has been formally opened since May 16. Both the international airline companies are based in the United Arab Emirates (UAE). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN director general Pradip Adhikari said the companies have expressed interest for getting connected to the airport for commercial flights on a regular basis from Bhairahawa within the next two weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that the demand from Bhairahawa for flights towards labour destination countries is high. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Jazeera Airways that had launched regular flights three days a week to and from the airport since its inauguration ispreparing to provide its service throughout the week, according to the airport’s chief Govinda Prasad Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jazeera Airways charges Rs 33,000 as a minimum fare for a Kathmandu-Kuwait flight and a 20 percent discount is available on a two-way ticketing. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15220', 'image' => '20220621074316_FlyDubai-8_MAX_(30728990597).jpg', 'article_date' => '2022-06-21 07:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15476', 'article_category_id' => '1', 'title' => 'House of Representatives Passes Financial Bill with Majority Votes', 'sub_title' => ' MPs argue that income tax in Nepal was higher than that of neighbouring countries', 'summary' => 'June 21: The House of Representatives (HoR) meeting on Monday passed the ‘Financial Bill, 2079’ with majority votes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: The House of Representatives (HoR) meeting on Monday passed the ‘Financial Bill, 2079’ with majority votes. The bill was proposed for approval from the lower house by Finance Minister Janardan Sharma. </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"">Lawmakers during the House meeting had stressed on the need to reforms the existing tax system. They argued that that the taxpayers were facing additional burden as the ambit of tax remained unchanged. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations, lawmakers argued that income tax rate in Nepal was higher compared to neighbouring countries including India and Pakistan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also drew the government’s attention to higher tax on import of e-vehicles, terming it a contradictory move at a time when discussions were underway to increase power consumption. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers Bharat Shah, Metmani Chaudhary, Prakash Snehi, Dibya Mani Rajbhandari, Gajendra Bahadur Mahat, Gokul Banskota and others took part in the deliberation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Finance Minister Sharma said that mega industries are given subsidy on power tariffs so as to reduce trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Saying that some tax rates have been revised and subsidy is also given, the Finance Minister informed the House that tax rates on import of beetle nuts and peas have been increased to control smuggling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, taxes have been raised on goods that are hazardous to human health and also on luxury goods, according to the finance minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tax rates on steel and iron has not been changed by targeting any of the industrial group, Minister Sharma shared. He claimed that the budget was unveiled by keeping the interests of farmers, poor people, working class people and entrepreneurs at the centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15219', 'image' => '20220621074220_20220615014416_ROS_KTM-4187.jpg', 'article_date' => '2022-06-21 07:41:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15478', 'article_category_id' => '1', 'title' => 'SC Orders Government not to Implement its Decision to Restrict Loan Disbursement ', 'sub_title' => '', 'summary' => 'June 21: The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loan from banks and financial institutions by accepting land in collateral. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loan from banks and financial institutions by accepting land in collateral. The apex court order also overruled the government's decision to stop the sale of land plots without demarcation of land classified into different categories. </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"">It may be noted that the government had issued the Land Use Regulation 2022 recently classifying land into different categories, thereby preventing the sale of land plots before categorizing lands for different purpose.</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 Ministry of Land Management had written to its line agencies preventing the sale of land plots without determining the agricultural land and differentiating it from residential land. The government argued that it had issued the Land Use Regulation to protect the agricultural land where people are not allowed to build houses. This, however, has caused serious problems to the general public who need to acquire loans or to sell their land as the concerned bodies of the government are yet to demarcate the land. </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"">Acting on a writ petition filed at the Supreme Court, a single bench of Justice Ishwar Prasad Khatiwada issued such order stating that stopping the loan disbursement will have an unfitting impact on the citizens’ fundamental rights. </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 interim order, the government has been asked not to implement its decision until the case is settled. The SC order states that the provision of loan imbursement from the banks and financial institutions should not be stopped as the classification of land by the government is not likely to happen soon. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15218', 'image' => '20220621075738_20220527124927_Supreme Court.jpg', 'article_date' => '2022-06-21 07:56:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15475', 'article_category_id' => '1', 'title' => 'Lawmakers Decry Fuel Price Hike ', 'sub_title' => '', 'summary' => 'June 20: Lawmakers have expressed objection to the decision of Nepal Oil Corporation (NOC) to hike the price of petroleum products.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 20: Lawmakers have expressed objection to the decision of Nepal Oil Corporation (NOC) to hike the price of petroleum products. Speaking at a meeting of the House of Representatives on Monday, the MPs argued that the price was increased exorbitantly. NOC had announced a hike in the prices of fuel effective from June 20. With the latest price hike, a litre of petrol costs Rs 199. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the House meeting, the lawmakers said that the fuel price has been increased four times in the last one month alone, which has badly hit the daily life of the common man. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the start of the meeting, CPN(UML)'s Padma Aryal alleged the government of hiking the price of petroleum products to such an extent that it will 'break the back' of the people since it spurs market inflation due to the increase in the price of commodities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said the daily life of the people has been affected due to the frequent hike in the price of fuel. Aryal argued that the House session could not move ahead until the government furnished a justified explanation for the price hike. She also suspected of financial irregularities in the government's decision of installing the embossed number plate on vehicles. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-06-20', 'modified' => '2022-06-20', 'keywords' => 'Fuel, petrol, price hike, parliament, lawmakers, MPs', 'description' => '', 'sortorder' => '15217', 'image' => '20220620075904_Parliament.jpg', 'article_date' => '2022-06-20 19:58:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px">June 22: Airline companies operating domestic flights and helicopter service in Nepal have withdrawn their strike. The Airline Operators Association of Nepal (AOAN) had warned that the companies would suspend all flights if the Civil Aviation Authority of Nepal (CAAN) did not address their demands.</span></p> <p><span style="font-size:18px">However, the airline companies resumed service from 11 am on Wednesday fearing action from the government. But the airline operators' association said the strike has been postponed after the government expressed its commitment to resolve the issue. Yeti Airlines on Wednesday tweeted that all the postponed flights have been resumed.</span></p> <p><span style="font-size:18px">Due to the gravity of the issue, Prime Minister Sher Bahadur Deuba had held a meeting with Tourism Minister Prem Ale and CAAN Director-General Pradip Adhikari in Baluwatar to discuss the issue.</span></p> <p><span style="font-size:18px">During the discussion, the government decided to take initiative to revoke the license of the striking airline companies and arrest the protesters and take legal action against them.</span></p> <p><span style="font-size:18px">Earlier, the government had issued a warning that the operators of the airline companies would be arrested under the Emergency Services Act and their license revoked if they did not resume service taking into consideration the inconvenience it might cause to the general public.</span></p> <p><span style="font-size:18px">The government has placed the air service under essential service by publishing a notice in the Nepal Gazette on June 9. According to the notice, strikes are not allowed in sectors providing essential services, and violators could be prosecuted.</span></p> <p><span style="font-size:18px">The domestic airliners had announced a strike after CAAN decided to relocate 67 per cent of the existing aircraft and helicopters to airports outside the Kathmandu Valley for night stop.</span></p> <p><span style="font-size:18px">The Nepal Airlines Operators Association of Nepal, an umbrella organization of private airline operators, held a press conference on Tuesday and put forth the five-point demand. They had warned of suspending domestic flights from Wednesday if their demands were not addressed.</span></p> <p><span style="font-size:18px">CAAN, on the other hand, insisted that its decision will not be revoked. CAAN had decided to shift the parking base of helicopters and aircraft from Tribhuvan International Airport (TIA) to outside the Kathmandu Valley.</span></p> <p><span style="font-size:18px">As per the decision, helicopters and aircraft will be sent out of Kathmandu for night-stop parking and they are required to operate the first flight of the day from the base airport (stop area). <br /> According to the CAAN, the decision to shift the parking space was taken to reduce parking loads at TIA. In case of airlines companies, the decision shall come into effect from June 27 while the helicopters companies are required to implement it from June 21.</span></p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'flights, strike, airline, operators, Nepal, prime minister, tourism minister, CAAN, demand', 'description' => '', 'sortorder' => '15231', 'image' => '20220622065059_airraft.jpg', 'article_date' => '2022-06-22 18:48:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15488', 'article_category_id' => '1', 'title' => 'Shares Transaction of any Company will not be Blocked due to Merger and Acquisition', 'sub_title' => '', 'summary' => 'June 22: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has assured that the trading of shares of any company will not be halted due to merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">June 22: Chairman of the Securities Board of Nepal (SEBON) Ramesh Kumar Hamal has assured that the trading of shares of any company will not be halted due to merger and acquisition.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Speaking at a press conference held at the board on Tuesday, Chairman Hamal said that a law will be enacted to allow the trading of shares of companies going for merger and acquisition after mid-August.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"After mid-August, we will make arrangements so that the trading of shares of the company going for merger and acquisition will not be stopped. It is not appropriate to mortgage the assets of investors for years,” he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hamal expressed his commitment to implement this law. Stating that the governor was positive about the merger acquisition, he said that there should be no confusion regarding such issues. Hundreds of investors should not be saddened by the mistake made by one or two people, said Hamal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Chairman Hamal said that the 19-point demand of the investors of share market will be addressed in a phase-wise manner. He also urged the agitating investors and brokers to withdraw their protests. According to Hamal, some of the demands of the protesters need to be addressed by the Nepal Rastra Bank and the Finance Ministry and the board is coordinating with them to resolve the problem.</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 also said that the investors need not worry about the bearish trend of the share market because it is mainly due to the liquidity crisis in the banking system at present. According to Hamal, the situation of share market in other countries is also similar to that of Nepal.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'share, transaction, liquidity, banking, merger, acquisition, NRB, Finance, Ministry', 'description' => '', 'sortorder' => '15230', 'image' => '20220622042335_share.jpg', 'article_date' => '2022-06-22 16:22:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15487', 'article_category_id' => '1', 'title' => 'Government’s Import Policy Fails', 'sub_title' => '', 'summary' => 'June 22: The policy adopted by the government to reduce imports after facing increasing pressure on the foreign exchange reserves has failed miserably.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 22: The policy adopted by the government to reduce imports after facing increasing pressure on the foreign exchange reserves has failed miserably.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Despite the government's policy of tightening the credit flow for import through Nepal Rastra Bank (NRB), banning the import of luxury goods through the Ministry of Supply and reducing the import of fuel by giving two days public holiday, the imports have increased instead of decreasing.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">According to the data published by the Department of Customs on Tuesday, the imports have increased by Rs 21 billion from mid-May to mid-June as compared to the previous month. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">NRB had introduced a policy to discourage imports from last December after the balance of payments deficit increased due to high imports while the foreign exchange reserves were declining. During mid-December, the central bank made provision for keeping cash margin while opening LC for import of 20 different types of goods including cosmetics and luxury goods. Similarly, the gold import quota was halved to 10 kg per day in the first week of March.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Similarly, the government banned the import of 10 different types of luxury goods on April 27. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The Ministry of Industry, Commerce and Supplies prohibited the imports of mobile sets worth more than USD 600, color televisions of over 32 inches, vehicles including jeep, cars and vans, and motorcycles of over 250 cc, food, liquor, crackers, chips, cigarettes and tobacco products, cards and toys till mid-July. Also, the government decided to give two days leave per week from mid-May to mid-June citing that it would reduce the consumption of petroleum products.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Imports did not decline even five months after the government adopted the policy to discourage imports. Imports fell by Rs 20 billion from mid-April to mid-May as compared to the previous month and were limited to Rs 137 billion. The imports of mid-April to mid-May are the lowest this year. The imports of mid-May to mid-June were about Rs 21 billion more than that of mid-April to mid-May. Figures from the department show that goods worth Rs 158 billion were imported in May.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Diesel, petrol, LPG and cast iron top the list of imports. Diesel was imported the most amounting to Rs 145.21 billion as of mid-June.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Soybean oil is Nepal’s prime export, whose export amounted to Rs 46.58 billion in the last 11 months. As Nepal imports the raw material required for soybean oil production, it is the fourth largest importer of crude soybean oil. Crude soybean oil worth Rs 53.25 billion was imported in the last 11 months, as per the customs data.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => '', 'description' => '', 'sortorder' => '15229', 'image' => '20220622023528_Trade.jpg', 'article_date' => '2022-06-22 14:34:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15486', 'article_category_id' => '1', 'title' => 'HAN Urges Central Bank to Increase Concessional Loan to Rs 500 Million', 'sub_title' => '', 'summary' => 'June 22: The Hotel Association Nepal (HAN) has submitted a 10-point suggestions to the central bank to be included in the monetary policy for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 22: The Hotel Association Nepal (HAN) has submitted a 10-point suggestions to the central bank to be included in the monetary policy for the upcoming fiscal year. HAN has suggested increasing the concessional loan from Rs 200 million to Rs 500 million and reducing the credit card fee from 3 percent to 1 percent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">HAN’s acting president Binayak Shah, general secretary Sajan Shakya and other officials met Governor of Nepal Rastra Bank Maha Prasad Adhikari and presented suggestions on monetary policy. On the occasion, Shah said that the tourism sector, especially the hotel industry, has been most affected by the Covid-19 pandemic and it is difficult to operate the hotels.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">He also said that the budget of the Fiscal Year 2022/23 does not address the problems of the tourism and hotel industry. Shah expressed confidence that the issues left out in the budget will be covered by the monetary policy. Stating that the financial condition of the hotel and tourism industry has not eased so far, HAN demanded arrangements for imposition of no penalty and interest till mid-July 2081 BS.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">HAN also suggested rescheduling the existing loans with an extension of at least 3 years. HAN requested that the interest on the rescheduled loan be repaid in installments for a period longer than mid-July. HAN demanded that the hotels should provide dollar prepaid cards in the name of the designated person and make arrangements for easy acceptance of Indian Rs 500 and Rs 2,000 notes as well.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'Hotel, concessional, loan, HAN, pandemic, Covid-19, tourism', 'description' => '', 'sortorder' => '15228', 'image' => '20220622013946_Hotel.jpg', 'article_date' => '2022-06-22 13:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15485', 'article_category_id' => '1', 'title' => 'Country’s Trade Deficit Reaches Rs 1577 Billion in 11 Months ', 'sub_title' => '', 'summary' => 'June 22: The country has recorded a trade deficit of Rs 1577 billion in the first 11 months of the current fiscal year, which is 25 per cent more compared to the last fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 22: The country has recorded a trade deficit of Rs 1577 billion in the first 11 months of the current fiscal year, which is 25 per cent more compared to the last fiscal year. </span></span></span><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, the country’s trade deficit was Rs 1262.11 billion in the same period of last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the review period, country’s foreign trade stood at Rs 1949 billion, which is 29.5 per cent more than the previous fiscal year. In the first 11 months of the current fiscal year, the country imported goods worth Rs 1763.22 billion against Rs 1383.36 billion in the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal exported goods worth Rs 185.83 billion in the first 11 months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the review period, Nepal imported petroleum products of Rs 267.3 billion. Among the petroleum products, diesel topped the import list at Rs 145.22 billion while cooking gas (LPG) worth Rs 59.16 billion was imported during the 11 months of the current fiscal year. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'Trade, deficit, import, export, Nepal, petroleum, diesel, customs, department, fiscal year', 'description' => '', 'sortorder' => '15227', 'image' => '20220622075829_trade_imbalance.jpg', 'article_date' => '2022-06-22 07:57:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15484', 'article_category_id' => '1', 'title' => ' Suspension of Domestic Flights Unacceptable: CAAN ', 'sub_title' => '', 'summary' => 'June 22: The Civil Aviation Authority of Nepal (CAAN) has made it clear that the forceful act of the airlines companies to suspend domestic flights from Wednesday is not acceptable. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 22: The Civil Aviation Authority of Nepal (CAAN) has made it clear that the forceful act of the airlines companies to suspend domestic flights from Wednesday is not acceptable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organizing a news conference on Tuesday, CAAN urged the airlines companies not to suspend the flights stating that its prior decisions were taken to lessen the existing pressure on Tribhuvan International Airport and for the strengthening of the aviation safety. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General of CAAN Pradip Adhikari said the airlines companies are against its decision to shy away from their responsibility. He urged them to be responsible towards public service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The airline companies should be responsible in sensitive issue like aviation service. CAAN will not remain mute if people suffered from the strike,” Director General Adhikari added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, the Airlines Operators Association of Nepal (AOAN) had warned to suspend all emergency and scheduled flights from Wednesday if CAAN was not ready to revoke its 'controversial' decision. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, standing firm on its ground, CAAN's Director General Adhikari insisted the airline companies should go to the particular sites for their night-stop where the airline companies received approval for their base during the time of acquiring Air Operator Certificate (AOC). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Earlier, the CAAN had decided to shift the parking base of helicopters and aircraft from Tribhuvan International Airport (TIA) to outside the Kathmandu Valley. </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 decision, helicopters and aircraft will be sent out of Kathmandu for night-stop parking and they are required to operate the first flight of the day from the base airport (stop area). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the CAAN, the decision to shift the parking space was taken to reduce parking loads at TIA. In case of airlines companies, the decision shall come into effect from June 27 while the helicopters companies are required to implement it from June 21. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-22', 'modified' => '2022-06-22', 'keywords' => 'flights, airline, companies, suspension, CAAN, domestic, airport', 'description' => '', 'sortorder' => '15226', 'image' => '20220622075703_caan.jpg', 'article_date' => '2022-06-22 07:56:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15483', 'article_category_id' => '1', 'title' => 'Airline Operators Warn of Suspending Flights from June 22', 'sub_title' => '', 'summary' => 'June 21: The Airline Operators Association of Nepal (AOAN) has warned of suspending all domestic flights from June 22 if the government fails to address the long-term problems faced by the country’s aviation sector.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">June 21: The Airline Operators Association of Nepal (AOAN) has warned of suspending all domestic flights from June 22 if the government fails to address the long-term problems faced by the country’s aviation sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The umbrella body of airline companies of Nepal has forwarded a 5-point demand to the government and urged it to address them immediately.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The airline operators said that they will suspend flights if their demand is not addressed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Organising a press conference in the capital on Tuesday, AOAN unveiled the 5-point demand and warned of suspending all flights from Wednesday if the government fails to address them.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">One of the major demands of the association is to revoke the hike in passenger service charge, and other charges related to landing, parking, navigation among others provisioned in the Airport Service Charge Regulation 2078. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">AOAN has also demanded a permanent helipad for operating helicopter service at the Tribhuvan International Airport and space for a hangar for the repair and maintenance of aircraft.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The association has also demanded the government to take immediate steps to remove Nepal from the blacklist of European Union. AOAN has concluded that the EU’s decision to blacklist Nepal on the pretext of aviation safety has affected the tourism sector of the country.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15225', 'image' => '20220621065728_1655799740.1600647868.ghj.jpg', 'article_date' => '2022-06-21 18:56:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15482', 'article_category_id' => '1', 'title' => ''Fuel Price Hike Hits Construction Industry'', 'sub_title' => '', 'summary' => 'June 21: The Federation of Contractors Association of Nepal (FCAN), the umbrella body of construction entrepreneurs, has said that the construction industry is on the verge of coming to a standstill due to the excessive rise in the price of construction materials as a result of repeated price hikes of fuel. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">June 21: The Federation of Contractors Association of Nepal (FCAN), the umbrella body of construction entrepreneurs, has said that the construction industry is on the verge of coming to a standstill due to the excessive rise in the price of construction materials as a result of repeated price hikes of fuel. According to the federation, the recent price hike of Rs 21 per liter on petrol and Rs 27 per liter on diesel and kerosene will further affect the construction industry. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The federation said that projects of national pride and other vital construction projects are likely to be shut down due to sharp rise in fuel prices. The federation is of the view that the government's latest move reflects its indifference towards the construction industry as the government has not provided any relief to the construction businessmen despite the continuous rise in prices.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to the federation, thousands of construction entrepreneurs, their families and millions of people dependent on the industry have been affected by the unpredictable rise in prices. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">A statement issued by FCAN General Secretary Roshan Dahal on Monday states that the federation has been shocked by the sudden rise in prices at a time when the talks between the federation and stakeholders on price adjustment in accordance with the Public Procurement Act and regulations was underway.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">FCAN has said that the rise in prices of fuel is affecting the overall development of the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Meanwhile, the federation has accused the government of giving undue favour to the insurance companies by increasing the cost of infrastructure development through the provision made by the Insurance Directive-2078 BS. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15224', 'image' => '20220621063857_1655767050.Clipboard35.jpg', 'article_date' => '2022-06-21 18:38:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15481', 'article_category_id' => '1', 'title' => 'Transportation Charge Increases through Automatic Pricing Mechanism', 'sub_title' => '', 'summary' => 'June 21: With the hike in fuel prices, transportation fare has also gone up.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">June 21: With the hike in fuel prices, transportation fare has also gone up. The Department of Transport Management increased the transportation fares of land route while the Airline Operators Association of Nepal increased the fares of air transport. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The department informed that the fare of inter-state public transport has been increased in accordance to the automatic pricing mechanism. Under this system, when the price of fuel goes up or down by 5 percent, the fares can be adjusted accordingly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">The department issued a statement on Monday announcing the increase in the fares of inter-state public transport by 5.30 percent. In the case of freighters, the fare has been increased by 6.94 percent for those traveling in the hill region and 7.7 percent for those traveling in the Terai. According to the department, the fare of vehicles operating on local routes remains the same.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt">Nepal Oil Corporation increased the prices of petrol, diesel and aviation fuel with effect from Sunday night. The corporation increased the price of petrol by Rs 21, diesel by Rs 27 and aviation fuel by Rs 19 per liter. The price of petrol went up to Rs 199 per liter, diesel to Rs 192 per liter and aviation fuel to Rs 185 per liter.</span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => 'Transportation fare, hike, petrol, fuel, automatic pricing mechanism', 'description' => '', 'sortorder' => '15223', 'image' => '20220621043154_Transport.jpg', 'article_date' => '2022-06-21 16:31:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15480', 'article_category_id' => '1', 'title' => 'NOC Decides not to Sell Fuel at a Loss', 'sub_title' => '', 'summary' => 'June 21: Nepal Oil Corporation (NOC) has decided not to sell petroleum products at a loss.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">June 21: Nepal Oil Corporation (NOC) has decided not to sell petroleum products at a loss. The state-owned NOC stated that such a decision was made since it cannot take any more losses. Until now, the corporation had been selling fuel at a lower price than the actual cost.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The corporation held a press conference at the Ministry of Industry, Commerce and Supplies on Monday and informed that it is no longer going sell petroleum products at a loss.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC officials said that the price of petroleum products was increased excessively on Sunday for the same purpose. The corporation increased the price of petrol by Rs 21 per liter and diesel by Rs 27 per liter. According to the NOC, it still has to purchase petrol at Rs 212.58 per liter and diesel at Rs 205.95 per liter. Therefore, the NOC is still incurring a loss of Rs 13.58 per liter on petrol and Rs 13.95 per liter on diesel. The corporation also informed that the price of petroleum products has been adjusted by reducing the infrastructure tax.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Earlier, NOC had been selling petrol at a loss of Rs 31.28 per liter and diesel at Rs 37.16 per liter.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The NOC stated that it needs to sell petroleum products at the cost price as it is no longer in a position to bear such excessive losses.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC also informed that a taskforce is being formed to study the price of unused gas. The corporation says further decisions will be made on the basis of the findings of the study.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">NOC Executive Director Umesh Prasad Thani said that there is a high probability of fixing two different rates for cooking gas (liquefied petroleum gas). He said that the price of gas for household use and industrial purposes will be fixed differently. A taskforce led by the Director General of the Department of Quality Control and Measurement is studying this issue. The size and color of gas cylinders for household and industrial purposes will be made different.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => 'NOC, loss, fuel, petrol, diesel, LPG', 'description' => '', 'sortorder' => '15222', 'image' => '20220621025013_Petrol-Price-Increase.jpg', 'article_date' => '2022-06-21 14:48:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15479', 'article_category_id' => '1', 'title' => 'Aviation Fare Goes Up ', 'sub_title' => '', 'summary' => 'June 21: The Airline Operators Association of Nepal (AOAN) has increased the airfare for domestic flights citing the increase in price of petroleum products.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">June 21: The Airline Operators Association of Nepal (AOAN) has increased the airfare for domestic flights citing the increase in price of petroleum products. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Issuing a notice on Monday, the association said that the new airfare shall come into effect from Wednesday (June 22). <br /> AOAN said that the airfare for domestic flights has been increased by a minimum of Rs 170 to the maximum of Rs 840. <br /> As per the new price list, the airfare for Kathmandu-Dhangadhi flight has been increased by Rs 840. Tickets for the route will now cost Rs 16,805. This is the highest increase in fuel surcharge. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The fare of mountain flights from Kathmandu has been increased by Rs 655 per ticket, which will now cost Rs 14,720.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Likewise, the fare along Kathmandu-Nepalgunj rout has been increased by Rs 620 and is now fixed at Rs 13,815 per passenger. The fuel surcharge for Kathmandu-Bhadrapur flights has been increased by Rs 570. Similarly, the fare of Kathmandu-Biratnagar flights has been increased by Rs 455 and that of Kathmandu-Bhairahawa by Rs 395. Now, the Kathmandu-Simara flight is the cheapest flight from Kathmandu. The surcharge on this route has been increased by Rs 170.</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""><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The decision to hike the airfare comes after the state-owned Nepal Oil Corporation increased the price of aviation turbine fuel for domestic flights by Rs 19 per litre on Sunday. </span></span> </span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15221', 'image' => '20220621080526_B9C9CD73-A9C9-4291-A35E-759CE72B8838.jpeg', 'article_date' => '2022-06-21 08:02:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15477', 'article_category_id' => '1', 'title' => 'Two more International Airline Companies likely to Start Flights to Bhairahawa Airport soon', 'sub_title' => '', 'summary' => ' June 21: Two more airline companies from abroad will be providing services from the Bhairahawa-based Gautam Buddha International Airport.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: Two more airline companies from abroad will be providing services from the Bhairahawa-based Gautam Buddha International Airport. </span><span style="font-family:"Arial Unicode MS","sans-serif"">The Civil Aviation Authority of Nepal (CAAN) said Air Arabia and the Fly Dubai have proceeded with rending their services from the airport that has been formally opened since May 16. Both the international airline companies are based in the United Arab Emirates (UAE). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN director general Pradip Adhikari said the companies have expressed interest for getting connected to the airport for commercial flights on a regular basis from Bhairahawa within the next two weeks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that the demand from Bhairahawa for flights towards labour destination countries is high. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Jazeera Airways that had launched regular flights three days a week to and from the airport since its inauguration ispreparing to provide its service throughout the week, according to the airport’s chief Govinda Prasad Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jazeera Airways charges Rs 33,000 as a minimum fare for a Kathmandu-Kuwait flight and a 20 percent discount is available on a two-way ticketing. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15220', 'image' => '20220621074316_FlyDubai-8_MAX_(30728990597).jpg', 'article_date' => '2022-06-21 07:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15476', 'article_category_id' => '1', 'title' => 'House of Representatives Passes Financial Bill with Majority Votes', 'sub_title' => ' MPs argue that income tax in Nepal was higher than that of neighbouring countries', 'summary' => 'June 21: The House of Representatives (HoR) meeting on Monday passed the ‘Financial Bill, 2079’ with majority votes.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: The House of Representatives (HoR) meeting on Monday passed the ‘Financial Bill, 2079’ with majority votes. The bill was proposed for approval from the lower house by Finance Minister Janardan Sharma. </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"">Lawmakers during the House meeting had stressed on the need to reforms the existing tax system. They argued that that the taxpayers were facing additional burden as the ambit of tax remained unchanged. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations, lawmakers argued that income tax rate in Nepal was higher compared to neighbouring countries including India and Pakistan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They also drew the government’s attention to higher tax on import of e-vehicles, terming it a contradictory move at a time when discussions were underway to increase power consumption. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers Bharat Shah, Metmani Chaudhary, Prakash Snehi, Dibya Mani Rajbhandari, Gajendra Bahadur Mahat, Gokul Banskota and others took part in the deliberation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Finance Minister Sharma said that mega industries are given subsidy on power tariffs so as to reduce trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Saying that some tax rates have been revised and subsidy is also given, the Finance Minister informed the House that tax rates on import of beetle nuts and peas have been increased to control smuggling. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, taxes have been raised on goods that are hazardous to human health and also on luxury goods, according to the finance minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tax rates on steel and iron has not been changed by targeting any of the industrial group, Minister Sharma shared. He claimed that the budget was unveiled by keeping the interests of farmers, poor people, working class people and entrepreneurs at the centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15219', 'image' => '20220621074220_20220615014416_ROS_KTM-4187.jpg', 'article_date' => '2022-06-21 07:41:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15478', 'article_category_id' => '1', 'title' => 'SC Orders Government not to Implement its Decision to Restrict Loan Disbursement ', 'sub_title' => '', 'summary' => 'June 21: The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loan from banks and financial institutions by accepting land in collateral. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 21: The Supreme Court (SC) on Monday issued an interim order in the name of the government not to implement its decision to stop issuing loan from banks and financial institutions by accepting land in collateral. The apex court order also overruled the government's decision to stop the sale of land plots without demarcation of land classified into different categories. </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"">It may be noted that the government had issued the Land Use Regulation 2022 recently classifying land into different categories, thereby preventing the sale of land plots before categorizing lands for different purpose.</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 Ministry of Land Management had written to its line agencies preventing the sale of land plots without determining the agricultural land and differentiating it from residential land. The government argued that it had issued the Land Use Regulation to protect the agricultural land where people are not allowed to build houses. This, however, has caused serious problems to the general public who need to acquire loans or to sell their land as the concerned bodies of the government are yet to demarcate the land. </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"">Acting on a writ petition filed at the Supreme Court, a single bench of Justice Ishwar Prasad Khatiwada issued such order stating that stopping the loan disbursement will have an unfitting impact on the citizens’ fundamental rights. </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 interim order, the government has been asked not to implement its decision until the case is settled. The SC order states that the provision of loan imbursement from the banks and financial institutions should not be stopped as the classification of land by the government is not likely to happen soon. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-21', 'modified' => '2022-06-21', 'keywords' => '', 'description' => '', 'sortorder' => '15218', 'image' => '20220621075738_20220527124927_Supreme Court.jpg', 'article_date' => '2022-06-21 07:56:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15475', 'article_category_id' => '1', 'title' => 'Lawmakers Decry Fuel Price Hike ', 'sub_title' => '', 'summary' => 'June 20: Lawmakers have expressed objection to the decision of Nepal Oil Corporation (NOC) to hike the price of petroleum products.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 20: Lawmakers have expressed objection to the decision of Nepal Oil Corporation (NOC) to hike the price of petroleum products. Speaking at a meeting of the House of Representatives on Monday, the MPs argued that the price was increased exorbitantly. NOC had announced a hike in the prices of fuel effective from June 20. With the latest price hike, a litre of petrol costs Rs 199. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at the House meeting, the lawmakers said that the fuel price has been increased four times in the last one month alone, which has badly hit the daily life of the common man. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At the start of the meeting, CPN(UML)'s Padma Aryal alleged the government of hiking the price of petroleum products to such an extent that it will 'break the back' of the people since it spurs market inflation due to the increase in the price of commodities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She said the daily life of the people has been affected due to the frequent hike in the price of fuel. Aryal argued that the House session could not move ahead until the government furnished a justified explanation for the price hike. She also suspected of financial irregularities in the government's decision of installing the embossed number plate on vehicles. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-06-20', 'modified' => '2022-06-20', 'keywords' => 'Fuel, petrol, price hike, parliament, lawmakers, MPs', 'description' => '', 'sortorder' => '15217', 'image' => '20220620075904_Parliament.jpg', 'article_date' => '2022-06-20 19:58:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
