June 6: India has set up National Food Laboratory in the bordering Indian city of…
June 6: India has set up National Food Laboratory in the bordering Indian city of…
June 6: Nepal Electricity Authority (NEA) has started exporting electricity to India as domestic production has started to rise.…
June 6: Minister for Labor, Employment and Social Security Krishna Kumar Shrestha has directed the concerned officials and counselors in labour destination countries to address the grievances of Nepali migrant…
June 5: A study committee formed by Investment Board Nepal (IBN) has recommended constructing the West Seti Reservoir-based Hydro Power Project in Public-Private Partnership (PPP)…
June 5: Nepal Electricity Authority (NEA) has made arrangements to export 140 MW of electricity generated from the 144 MW Kaligandaki A Power House owned by the state-owned utility to India since Saturday…
June 5: Lawmakers have urged the government to immediately find out the reasons for the steep rise in market prices and stem out the…
June 5: Nepal Chamber of Commerce (NCC) is all set to organize the 'Nepal Chamber Expo-2022' at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from June 16 to…
June 5: Finance Minister Janardan Sharma has defended the budget announced for the upcoming fiscal year (FY 2022/23) after around a dozen programmes included in the budget courted…
June 5: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that a high-level committee would be formed to suggest ways for better managing the demand, supply and distribution chain of petroleum products and for handling economic impacts due to adjustment of prices of petroleum…
June 5: Finance Minister Janardan Sharma on Saturday said the government was clear on constructing the Nijgadh International Airport in…
June 3: Nepal’s sugar mills have increased the prices of sugar arbitrarily after India announced a ban on sugar…
June 3: Stakeholders have emphasized on the effective implementation of the budget presented in parliament for the Fiscal Year…
June 3: Leaders of the ruling parties have expressed their dissatisfaction over the increase in the size of the budget for the upcoming fiscal year 2022/23 unveiled by the government and the programmes included in…
June 3: The government has announced various energy-related programmes prioritizing electricity consumption in the upcoming fiscal…
June 3: A total of 190,739 tourists visited Nepal in the first five months of 2022, Nepal Tourism Board (NTB) said citing the data of the Department of…
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Nepal's Minister for Agriculture and Livestock Development, Mahendra Raya Yadav was also present during the inauguration of the food laboratory.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The laboratory has been set up by the Food Safety and Standards Authority of India (FSSAI). With the establishment of the laboratory, it will be easier for India to test the quality of various goods exported from Nepal. Nepali exporters had previously been demanding the establishment of such laboratory in Raxaul.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Exporter Suresh Rungata of Birgunj said that it will now be easier to test refined oil, semi-refined oil, food grains, leather and other goods exported from Nepal to India. Earlier, there was a compulsion to send the samples of such items to laboratories in Kolkata or Delhi for testing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to FSSAI, the laboratory is equipped with high technology and infrastructure. The laboratory set up at Raxaul will save time on sample testing for exports of Nepal's food and agricultural products. Establishment of this lab is expected to boost bilateral trade between Nepal and India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to FSSAI, the structure was set up to improve connectivity, trade and border infrastructure with Nepal in line with the ‘Neighbor First’ policy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15141', 'image' => '20220606021954_1654490533.रक्सौलमा खाद्य प्रयोगशाला.jpg', 'article_date' => '2022-06-06 14:18:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15398', 'article_category_id' => '1', 'title' => 'Nepal Compelled to Import Electricity even though it has Started Exporting Electricity to India', 'sub_title' => '', 'summary' => 'June 6: Nepal Electricity Authority (NEA) has started exporting electricity to India as domestic production has started to rise. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 6: Nepal Electricity Authority (NEA) has started exporting electricity to India as domestic production has started to rise. Although the NEA has been exporting surplus electricity to India, it is still compelled to import electricity from the neighbouring country.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA is still importing at least 60 MW of electricity from India daily. NEA has been importing electricity from the Tanakpur transmission line especially targeting the far western region. The number of power projects in the far west is low. However, the area has not been able to generate electricity as per the demand. NEA has not been able to supply electricity generated in other areas to the far west due to insufficient transmission lines. NEA spokesperson Suresh Bhattarai said that there is still an obligation to import electricity due to such technical problems.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Even if we start exporting electricity to India, we are still forced to import it due to technical problems," he said. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The far western region has not been able to generate electricity as per the demand,” he said, “So we are importing 50/60 MW electricity from Tanakpur even under normal conditions.” </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, this situation does not last long. Due to the increase in domestic production, the import of electricity will soon be stopped, he added.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA started exporting electricity to India from last Thursday with the increase in domestic production. NEA has been exporting 39 MW of electricity from Trishuli and Devighat hydropower projects. The Kaligandaki Hydropower Project, with a capacity of 144 MW, has been exporting an additional 140 MW of electricity since Saturday. NEA is exporting electricity to India at a maximum of Rs 19 (IRs 12) per unit.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the hydropower projects in Nepal are based on river flow system. Therefore, projects run at full capacity when the river overflows during the rainy season. When the production here is high, it can be exported to India. However, when the water level in the river decreases in winter, the production decreases. At that time, NEA has been meeting the demand by importing electricity from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In India, with more coal-based projects, electricity can be generated as needed at any time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, due to recent tensions between Russia and Ukraine, power generation in India is low due to a shortage of coal. As a result, the buying and selling of electricity in India is still costly. In such situation, NEA could not get enough electricity from the Indian market for half a month. At that time, NEA had even carried out load shedding here. Now there is no need for load shedding in the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15140', 'image' => '20220606013706_NEA.jpg', 'article_date' => '2022-06-06 13:36:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15397', 'article_category_id' => '1', 'title' => 'The Labor Minister Directs Concerned Bodies to Address the Complaints of Laborers. ', 'sub_title' => '', 'summary' => 'June 6: Minister for Labor, Employment and Social Security Krishna Kumar Shrestha has directed the concerned officials and counselors in labour destination countries to address the grievances of Nepali migrant workers.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">June 6: Minister for Labor, Employment and Social Security Krishna Kumar Shrestha has directed the concerned officials and counselors in labour destination countries to address the grievances of Nepali migrant workers. Minister Shrestha gave such instructions during an orientation held for the newly appointed counselors for Saudi Arabia, the United Arab Emirates, Bahrain and Qatar. He said that the grievances of Nepali workers in those countries were not addressed although they visited the embassy in the respective country to file complaints.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In addition to this, Minister Shrestha also said that the counselors should ensure the protection of the rights of the workers, rescue them in case of problems and help in resolving disputes between the employers and the workers. Moreover, Secretary at the Ministry Ek Narayan Aryal stressed on the need for counselors and labor associates to be aware of foreign laws and the issue of migrant workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the orientation, experts provided training on foreign employment management systems, labor immigration, bilateral labor agreement, labor diplomacy, and laws related to foreign employment. There is a legal provision to have a labor companion to assist the workers abroad. The ministry has appointed Devendra Karki as counselor in Riyadh, Saudi Arabia, and Deen Bandhu Subedi in the UAE, as well as Jamuna Kafle in Bahrain and Krishna Poudel in Qatar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, Minister Shrestha said that the social security fund needs to be restructured to increase the attraction of employers and contributors. Speaking at a discussion programme organized at the Ministry of Labor on the effective operation and management of the Social Security Fund, Minister Shrestha stressed on the need to increase the attraction of employers and workers towards the fund. He also said that the plan of the fund should be reviewed to increase the attraction of employers and contributors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Secretary of the Ministry Aryal said that the fund should give confidence to the employers and contributors that social security would be guaranteed. This, according to him, can be done by bringing attractive facilities and schemes. He said that new arrangements should be made for proper mobilization and investment of the money in the fund and management of the return from it. Social security expert Krishna Acharya said that the social security fund should bring attractive facilities and schemes to the employers and workers of small and medium enterprises. He suggested that the structural reforms of the fund and the mobilization and investment arrangements of the funds should also be reviewed. Stakeholders say that the contribution-based social security programme should be promoted in a way that benefits both the workers and the employers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15139', 'image' => '20220606122050_Nepal-workers-in-Qatar-Gulf.jpg', 'article_date' => '2022-06-06 12:19:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15396', 'article_category_id' => '1', 'title' => 'Study Committee Recommends West Seti Project to be Built on PPP Model', 'sub_title' => '', 'summary' => 'June 5: A study committee formed by Investment Board Nepal (IBN) has recommended constructing the West Seti Reservoir-based Hydro Power Project in Public-Private Partnership (PPP) model.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 5: A study committee formed by Investment Board Nepal (IBN) has recommended constructing the West Seti Reservoir-based Hydro Power Project in Public-Private Partnership (PPP) model.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">IBN had formed a committee to study the best modality of the project. The committee has recommended the board to build the project in the PPP model. Prime Minister Sher Bahadur Deuba, who is also the chairman of the board, had hinted at a public event last month that an Indian company would be allowed to build West Seti Hydro Power Project.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, the study committee chaired by National Planning Commission Vice-Chairman Biswanath Poudel submitted a report to the board with the conclusion that it would be better to build the project in the PPP model. It will be implemented after being passed by the board meeting of IBN.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">IBN spokesperson Amrit Lamsal said that the study committee has submitted the report with the conclusion that it would be better to build the West Seti project in the PPP model. He said that the report will be presented at the upcoming board meeting.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Studies have shown that it would be better to build the project in the PPP model,” he said, adding that if investors and promoters are not attracted, other models can also be considered. “Let's see what the board decides, then the construction work will move forward.”'</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The selected promoter company will also be able to review the capacity of the project. Earlier, a study conducted in 1997 had shown the capacity of the project to be 750 MW.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">It has been 25 years since the study was conducted. It is estimated that the previously determined production capacity may change during this period due to natural changes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Therefore, the company selected to build the project could conduct further study and review the capacity, said Lamsal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A new study by the board has shown that making the project a semi-reservoir will generate 615 MW of electricity. Spokesperson Lamsal said that the investment would be Rs 150 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This project was first discussed in 1980. At that time, a French company had shown the possibility of constructing a 37 MW capacity project in Baitadi. Ten years later, the government made it a national pride project. In the meantime, various studies were conducted on the project. In the end, the capacity was determined to be 750 MW.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The project was initially undertaken by an Australian company in 1994, which said after almost two decades that it could not proceed ahead with the project.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Then in 2068 BS, it was given to the Chinese company Three Gorges. Later, Three Gorges also withdrew from the project. The project, which has been in limbo since then, is now expected to go into construction.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15138', 'image' => '20220606022038_1654407288.seti.jpg', 'article_date' => '2022-06-05 18:34:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15395', 'article_category_id' => '1', 'title' => '140 MW Electricity from Kaligandaki Exported to India', 'sub_title' => '', 'summary' => 'June 5: Nepal Electricity Authority (NEA) has made arrangements to export 140 MW of electricity generated from the 144 MW Kaligandaki A Power House owned by the state-owned utility to India since Saturday night.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 5: Nepal Electricity Authority (NEA) has made arrangements to export 140 MW of electricity generated from the 144 MW Kaligandaki A Power House owned by the state-owned utility to India since Saturday night.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA has been exporting 37.7 MW of electricity daily to the Indian Energy Exchange (IEX) since Thursday from the electricity generated by Trishuli and Devighat hydropower plants. NEA informed that arrangements have been made to export 140 MW of electricity generated by Kaligandaki to India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA exported the surplus energy to India after the power house started operating in full capacity due to increased flow of water in the river with the onset of rainy season. NEA’s Executive Director Kul Man Ghising said that the average selling price of electricity exported now is NRs 11.2 per unit (IRs 7). </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The maximum rate is NRs 19 (IRs 12) per unit, minimum NRs 2.30 (IRs 1.49) and average is NRs 11.2 (IRs 7),” said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In IEX, 24 hours are divided into 96 parts of 15/15 minutes and electricity is traded at competitive rates fixed by the market. This causes price variation in each block.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the NEA, the maximum and minimum prices of electricity exported since Thursday is IRs 12 (NRs 19.2) per unit and IRs 2.49 (NRs 3.9) per unit, respectively. The average price of that day is IRs 6.72 (NRs 10.76) per unit. Nepal is allowed to sell up to 364 MW of electricity at competitive rates in the Indian Energy Exchange Market.</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' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15137', 'image' => '20220605061316_elec.jpg', 'article_date' => '2022-06-05 18:12:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15394', 'article_category_id' => '1', 'title' => 'Lawmakers Draw Government's Attention Towards Rising Inflation ', 'sub_title' => '', 'summary' => 'June 5: Lawmakers have urged the government to immediately find out the reasons for the steep rise in market prices and stem out the problem. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Lawmakers have urged the government to immediately find out the reasons for the steep rise in market prices and stem out the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the discussions on a proposal of urgent public importance related to the hike in the price of petroleum products during a session of the House of Representatives on Friday, the Members of Parliament (MPs) said that inflation has broken the back of the common man and has affected the daily life of the public. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Krishna Bhakta Pokharel said the general people were finding it hard to make ends meet due to the price hike. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">MP Pushpa Bhusal stressed on lessening the imports and increasing export for building a robust economy while Dila Sangraula drew the attention of the government to address the problem of rising market prices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former minister and MP Lal Babu Pandit accused the government of not carrying out market monitoring in an effective manner due to which the consumers are always at the receiving end. Narayan Prasad Khatiwada called on the government to bring effective plans for checking inflation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another MP Sher Bahadur Tamang stressed on the need of taking drastic measures to bring down the price of essential commodities including cooking oil for providing relief to the consumers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Samina Hussein demanded finding out the root cause of price hike to bring an effective plan for addressing it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CPN (UML) whip Bishal Bhattarai had presented the proposal of urgent public importance drawing the government's attention towards the steep rise in inflation as well as the market prices of essential commodities. He accused the government of failing to take any measures to discourage inflation and increasing the prices of petroleum products such as cooking gas, diesel, petrol and kerosene against provisions of automated price adjustment of fuels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the proposal claimed, the multi-dimensional impact of the rise of prices of petroleum products had not been analysed and the need for discussions with opposition and experts from relevant fields was ignored to assess ways for price adjustment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the Nepal’s constitution has guaranteed the citizens’ right to live with dignity, the price rise has made the livelihood of people with minimum and meagre income difficult,” the main opposition party said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"So it is imperative to come up with a clear draft promptly for reduction of the prices of petroleum products and thus to ensure the primary and most significant responsibility of the state which is to make the basic needs of the people addressed," the proposal reads. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The proposal was seconded by lawmakers Yagya Raj Sunuwar, Ganesh Kumar Pahadi and Rajendra Lingden. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15136', 'image' => '20220605121907_Parliament.jpg', 'article_date' => '2022-06-05 12:18:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15393', 'article_category_id' => '1', 'title' => 'Nepal Chamber Expo-2022 in mid-June ', 'sub_title' => '', 'summary' => 'June 5: Nepal Chamber of Commerce (NCC) is all set to organize the 'Nepal Chamber Expo-2022' at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from June 16 to 20. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Nepal Chamber of Commerce (NCC) is all set to organize the 'Nepal Chamber Expo-2022' at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from June 16 to 20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The expo is being held in collaboration with the Ministry of Commerce and the Trade and Export Promotion Center. </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 fifth edition of the expo will focus on business interaction, sharing information on import and export, and marketing of Nepali products.</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 NCC said that the expo is being organized to promote export and attract foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the NCC, priority will be given to increase public awareness about consumer interest in using quality goods while encouraging all the business community to promote exportable goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This is the fifth edition of the expo and Bangladesh is the 'partner country' of the fair. Accordingly, Bangladeshi industrialists and businessmen will participate in the fair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the organizers, there will be 150 stalls from home and abroad in the five-day fair. Goods produced in Nepal, India, Pakistan, Bangladesh and other countries will be displayed in the fair. </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15135', 'image' => '20220605120907_fff.jpg', 'article_date' => '2022-06-05 12:08:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15392', 'article_category_id' => '1', 'title' => 'Finance Minister Defends Budget', 'sub_title' => '', 'summary' => 'June 5: Finance Minister Janardan Sharma has defended the budget announced for the upcoming fiscal year (FY 2022/23) after around a dozen programmes included in the budget courted controversy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Finance Minister Janardan Sharma has defended the budget announced for the upcoming fiscal year (FY 2022/23) after around a dozen programmes included in the budget courted controversy.</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"">Members of Parliament have raised questions over the provision related to old-age allowance as well as hike in tax for import of electric vehicles and lowering of tax on sanitary pads among others.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government has been criticized for lowering the age bar for receiving old-age allowance from 70 years to 68 years at a time when it is struggling to manage resources for the budget. Finance Minister Sharma defended the move arguing that the average life expectancy of people from the backward communities is lower than that of the general population. According to him, the data collected for the 15<sup>th</sup> periodic plan of the government showed that the average life expectancy of Sudur Paschim and Karnali provinces is 67/68 years. Therefore, the government decided to grant old-age allowance to elderly citizens of 68 years and above. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma claimed that the government has not increased tax for importing electric vehicles. According to the minister, the government has not increased tax on 13 different models of electric vehicles of less than 100 kilowatt capacity. The import duty on electric vehicles of above 100 kiliwatts has been increased marginally, said Minister 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"">“An electric vehicles that costs Rs 6 million at present will cost Rs 6.8 million. We increased the tax marginally after it was found that the country has to spend more foreign currency for importing electric vehicles than the vehicles driven by fossil fuel,” said 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"">He argued that only well-off people purchase electric vehicles of more than 100 kilowatt capacity and an additional tax of Rs 800,000 to Rs 1 million will not be much of a burden to the affluent class of people. “The general public will not have to bear the brunt,” said 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"">Likewise, Minister Sharma said that the government decided to waive customs duty on sanitary pads upon the pressing demand from women.</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"">“Last year, women had protested demanding rebate on pink tax. So we waived the tax to fulfill the demand,” said 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"">He further said that the government had given concession on imports of raw materials in order to promote domestic industries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the budget for the next fiscal is only 9.86 per cent bigger in size compared to the budget of the current fiscal, he said it should not be labeled as ambitious. He argued that the budget has been formulated keeping in mind the main goal of the constitution and federalism. </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 finance minister said the budget included programmes as incentives to the agriculture sector, utilization of the uncultivated land and attracting the youths towards agriculture. In this connection, he mentioned about the contribution-based farmers welfare fund for drawing the farmers to agriculture and retaining them and the budget's emphasis on domestic production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget also incorporated topics as development of production-based industries and export promotion, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stressing that the nation's economy is on the road to recovery and that all sectors except tourism have come to their previous state, he said the revenue collection too was satisfactory. The finance minister also expressed his belief that the economic growth rate in the upcoming fiscal year would be eight per cent, mainly due to the investment made for promoting agriculture production and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He stated that the foreign assistance in the current fiscal year is encouraging and the basis for bringing in foreign investment next fiscal year has been prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister gave assurances that farmers will not be facing fertilizer shortage as budget would be managed as per the requirement. He said that adequate budget has been allocated for fertilizer and seed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He pledged that mega projects including Nijgadh International Airport would be started from this year. (With inputs from RSS)</span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15134', 'image' => '20220605115035_ROS_KTM-4187.jpg', 'article_date' => '2022-06-05 11:49:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15391', 'article_category_id' => '1', 'title' => 'Government to Form Committee to Systematise Supplies of Petroleum Products ', 'sub_title' => '', 'summary' => 'June 5: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that a high-level committee would be formed to suggest ways for better managing the demand, supply and distribution chain of petroleum products and for handling economic impacts due to adjustment of prices 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 5: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that a high-level committee would be formed to suggest ways for better managing the demand, supply and distribution chain of petroleum products and for handling economic impacts due to adjustment of prices of petroleum products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Responding to the issues raised during the deliberations on a proposal of urgent public importance relating to the reduction of prices of petroleum products in a meeting of the House of Representatives on June 3, the minister said it was decided to form the committee under the convenorship of National Planning Commission vice chair. The committee will advise the government on matters related to restructuring of Nepal Oil Corporation, use of green energy and involvement of private sector in the distribution of petroleum products and so on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that it was a compulsion for the government to hike the prices of petroleum products following its soaring prices in the international market due to the ongoing Russia-Ukraine war. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the minister, the price of petrol was reduced by Rs 10 per litre despite a loss of Rs 31 per litre as per the price list obtained by the NOC from its supplier on June 1.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The government is responsible for providing a relief to the consumers,” he said adding that the pricelist of petroleum products was adjusted twice a month not time and again as mentioned in the proposal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing the house session about the government's plan to launch the use of electric stove as a campaign, the minister assured of the effective implementation of the campaign. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15133', 'image' => '20220605110514_20220603081851_845791-fuel-istock-070819.jpg', 'article_date' => '2022-06-05 08:24:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15390', 'article_category_id' => '1', 'title' => 'Govt Clear on Building Nijgadh Int'l Airport: Finance Minister', 'sub_title' => '', 'summary' => 'June 5: Finance Minister Janardan Sharma on Saturday said the government was clear on constructing the Nijgadh International Airport in Bara. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Finance Minister Janardan Sharma on Saturday said the government was clear on constructing the Nijgadh International Airport in Bara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Construction of the project has come to a halt following a verdict of the Supreme Court. The apex court has ordered the government not to continue with the project. However, the finance minister insists that the project will move ahead.</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"">"Nijgadh airport should and will be constructed. This is my commitment. The incumbent government has accorded high priority to the project," he said while addressing the 46th annual general meeting of the Birgunj Chamber of Commerce and Industry in Birgunj. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project is needed not only as an alternative to the Tribhuvan International Airport, but for the entire economic development of the Madhes and the whole country, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There is an urgent need to construct the project and the Kathmandu-Tarai fast-track the Madhes Province with Kathmandu," he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On a different note, the minister said that the process of resuming operation of the <span style="font-family:"Arial Unicode MS","sans-serif"">Birgunj Sugar Industry has been initiated.</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 budget has programmes to resume operation of the industry. Such programmes have been made on the basis of a study carried out for six to seven months, added the minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that the voices of industrialists and entrepreneurs of Birgunj have been addressed through the government's policies and programmes for the next fiscal year (FY 2022/23). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, stating that Birgunj is a lifeline for trade, Finance Secretary Madhu Kumar Marasini said, "There have been efforts for self-reliance and industrializing industry and trade through the budget." -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15132', 'image' => '20220605082424_Environment (4).jpg', 'article_date' => '2022-06-05 08:23:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15389', 'article_category_id' => '1', 'title' => 'Sugar Industrialists Increase Price of Sugar Arbitrarily ', 'sub_title' => '', 'summary' => 'June 3: Nepal’s sugar mills have increased the prices of sugar arbitrarily after India announced a ban on sugar exports. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">June 3: Nepal’s sugar mills have increased the prices of sugar arbitrarily after India announced a ban on sugar exports. A year ago, the factory price of sugar was Rs 85 per kg including value added tax (VAT). Today, the factory price has been raised to Rs 90 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Birendra Kumar Sah, the marketing manager of Eastern Sugar Mill, said that currently they are selling sugar at Rs 90 per kg including VAT. Sah further added that a year ago the factory price of sugar was Rs 85 per kg but depending on the market conditions, the prices may fluctuate. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had banned Letter of Credit (LC) for sugar imports after the emergence of domestic sugar industries. India, on the other hand, has decided to ban sugar exports to Nepal for two months for food security reasons. Sugar importers have accused the sugar mills of increasing the price of sugar by Rs 5 per kg after India imposed such ban.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">They accused the government of giving undue favour to the sugar mills. They further claimed that the government had fixed the price of sugarcane but did not fix the price of sugar. This has given opportunity to the sugar mills to form a cartel depending on the market conditions. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Navratan Luniya, a sugar importer who has been working in the sugar industry for two decades, warned that the price of sugar would go up to Rs 100 per kg after July as the government did not allow him to open an LC to import sugar. Nepal's production is enough to sustaine the local demand for only five months and the rest has to be imported, he further added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Additionally, Luniya claimed that the government had stopped opening LC for importing sugar, but there is still a large quantity of sugar being smuggled into Nepal. In India, sugar is available for Rs 56 per kg. The retail price of sugar in Nepal is Rs 90. As the margin of profit per kg of sugar is Rs 34 per kg, a large quantity of sugar is entering Nepal illegally through the open border, said Luniya. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another businessman, Jeevan Rijal, said that the government has been unjust to the consumers by allowing the industrialists to do whatever they want. "By opening an LC and bringing sugar, consumers would get sugar at around Rs 10 less than what the sugar mills are currently offering." At present, the industrialists have set their own prices, added Rijal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The annual consumption of sugar in Nepal is 250,000 tons. Domestic industries produce 100,000 tons. The remaining 150,000 tonnes of sugar is supplied through imports. The production of Nepal's industries lasts about 5 months. Rijal said that they have to meet the demand for the remaining seven months through imports.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15131', 'image' => '20220603040024_sugar.jpg', 'article_date' => '2022-06-03 15:59:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15388', 'article_category_id' => '1', 'title' => 'Stakeholders Stress on Effective Implementation of Budget', 'sub_title' => '', 'summary' => 'June 3: Stakeholders have emphasized on the effective implementation of the budget presented in parliament for the Fiscal Year 2022/23.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: Stakeholders have emphasized on the effective implementation of the budget presented in parliament for the Fiscal Year 2022/23. Speaking at an interaction organized jointly by the Nepal Economic Association, the Confederation of Banks and Financial Institutions Nepal (CBFIN) and the Ministry of Finance in Kathmandu on Thursday, the stakeholders stressed that implementation of budget is essential for building a self-reliant economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Senior economist and President of Nepal Economic Association Prof. Dr. Bishwambher Pyakuryal presented a paper on budget at the interaction. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Even if the budget looks positive overall, there will be difficulties in achieving the revenue target set by the government, which might further increase inflation and public debt,” said Pyakurel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist Dr Poshraj Pandey said that the budget is promising only by its looks. Senior economist Prof Dr Govindra Nepal said that the budget is inclusive and transformative. In addition, he pointed out the need for in-depth study for the implementation of various programmes and projects.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">CBFIN chairman Pawan Kumar Golyan said the budget is focused on agriculture, production, employment, import substitution and building a self-reliant economy. However, he said that no concrete plan is formulated yet to solve the problem of liquidity crisis. He said that some of the tax exemptions have raised suspicions that they are promoting imports rather than exports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Secretary Madhu Kumar Marasini said that despite the pressure on the economy, the budget has been kept within the limits. He remarked, “Despite the budget being a political-economic document, it also carries some goals. But in our country, which is rich in natural resources and has immense potential, the implementation of the issues directed by the budget will help in economic prosperity.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Senior Advisor to the Ministry of Finance Dr Surendra Upreti said that the budget came up with the expectations and needs of the general public and all stakeholders. He said, “As the budget empowers the state and local bodies with a large amount of financial transfers, it will be implemented effectively."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Finance Minister Janardan Sharma said that the budget covers the desires and demands of all. “This budget is yours as it has been formulated on the basis of suggestions, needs, expectations and recommendations received through discussions and interactions with all stakeholders. I have only presented it as a representative. Now let's all take ownership and move towards implementation with commitment.” He urged all parties to support the country's goal of building a self-reliant and socialism-oriented economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15130', 'image' => '20220603032519_budget new.jpg', 'article_date' => '2022-06-03 15:24:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15387', 'article_category_id' => '1', 'title' => 'Ruling Parties Unhappy with Budget', 'sub_title' => '', 'summary' => 'June 3: Leaders of the ruling parties have expressed their dissatisfaction over the increase in the size of the budget for the upcoming fiscal year 2022/23 unveiled by the government and the programmes included in it.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: Leaders of the ruling parties have expressed their dissatisfaction over the increase in the size of the budget for the upcoming fiscal year 2022/23 unveiled by the government and the programmes included in it. The government presented the budget for the upcoming fiscal year by increasing the size by one and a half billion rupees as compared to the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In a meeting of the federal parliament held on Thursday, lawmaker of the ruling Nepali Congress Gagan Thapa asked the finance minister the reason for increasing the size of the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thapa said that although the principles adopted by the government and its priorities included in budget were reasonable, he raised questions regarding the government’s ability to spend and resource management for the budget. He stated that the increase in the size of the budget raised questions in its implementation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Last year's budget is yet to be spent. What is the basis for spending the increased budget?” said Thapa. The government has allocated capital expenditure of Rs. 380.38 billion for the upcoming fiscal year. Out of Rs 378 billion allocated in the current fiscal year, only 33 percent has been spent so far. Thapa also demanded an answer from the Finance Minister over resource management. Thapa questioned the basis of foreign grants.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“This year, Rs 24 billion out of Rs 63 billion was received. What is the basis for receiving Rs 55 in the upcoming fiscal year? What is the basis of transparency in budget implementation?” he questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thapa, who is also a former health minister, criticized the government for not understanding the works related to insurance and said that it has plans to hand over the insurance sector to the companies. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Participating in the discussion on the budget, an MP from the main opposition CPN (UML) and former foreign minister Pradip Gyawali also questioned the budget brought by the government. Gyawali suggested the government and the leaders of the ruling parties not to pursue big plans to meet political ends. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“You are saying that you will increase foreign investment, but your actions are constantly discouraging foreign investors. MCC was the centre of conflict until recently, but you still passed the MCC, and I thank you for that,” said Gyawali. According to him, those who come to invest in Nepal aim to make profit. So, the investment environment should not be disturbed by making the foreign investment policy unstable.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15129', 'image' => '20220603020242_RS_KTM-20220524_163359.jpg', 'article_date' => '2022-06-03 14:01:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15386', 'article_category_id' => '1', 'title' => 'Increasing Electricity Consumption in Top Priority of Government', 'sub_title' => '', 'summary' => 'June 3: The government has announced various energy-related programmes prioritizing electricity consumption in the upcoming fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: The government has announced various energy-related programmes prioritizing electricity consumption in the upcoming fiscal year. Despite the increase in power generation, the government could not come up with a specific plan to increase energy consumption. However, the government has announced various programmes to increase electricity consumption through the budget for the upcoming fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has allocated budget for various programmes to increase power generation, develop electricity-related infrastructure, and expand the scope of electricity trade. The government has adopted a policy to increase electricity consumption in industries, households, transportation, and the public sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government also plans to increase the use of electric vehicles. The budget mentions that the transport service of big cities will be gradually converted into electronic system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget addressed the installation of charging stations in 50 places through the country. Charging stations will also be set up at petrol pumps. It is mentioned in the budget that the private sector will be encouraged to do so.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget also mentions that the kitchens of domestic households and public organisations will be converted into electric kitchen. For this, a campaign called 'Leave LP Gas: Connect Electricity' will be launched.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, it is mentioned in the budget that the subsidy being given for LP gas will be gradually reduced, and the subsidy will be given for the use of electricity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has announced the use of electric stoves in place of LP gas cylinders from Singha Durbar premises within this summer. The government has announced plans to make all public offices and residences in the metropolis and sub-metropolis LP gas-free within the next three months.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government plans to reduce the use of LP gas and petroleum products in the Kathmandu Valley by strengthening the power distribution infrastructure within three years. In addition, it is mentioned in the budget that public bodies will be required to purchase electric vehicles.The government has brought a program to gradually replace the traditional brick kilns with electric brick kilns.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, an arrangement has been made to give 15 per cent discount to the industries consuming electricity worth Rs 100 million per month. It is mentioned in the budget that electricity will be provided for irrigation facility at subsidized rate to make the country self-reliant in agriculture.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget aims to increase per capita electricity consumption to 400 kWh annually by increasing energy consumption in domestic, industrial, transport, agriculture and irrigation sectors next year. At present, the per capita, electricity consumption is 325 kWh. The government has announced plans to provide access to electricity to all citizens in the next two years.</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></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15128', 'image' => '20220603115109_elec.jpg', 'article_date' => '2022-06-03 11:50:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15385', 'article_category_id' => '1', 'title' => '190K Tourists Visited Nepal in First Five Months of 2022 ', 'sub_title' => '', 'summary' => 'June 3: A total of 190,739 tourists visited Nepal in the first five months of 2022, Nepal Tourism Board (NTB) said citing the data of the Department of Immigration. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 3: A total of 190,739 tourists visited Nepal in the first five months of 2022, Nepal Tourism Board (NTB) said citing the data of the Department of Immigration. </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 board, the number of tourists visiting Nepal during last month (May) was 53,608 while the number of visitors in the previous month (April) was 58,384.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director of Nepal Tourism Board Maniraj Lamichhane said that the tourism industry of the country has recovered by almost 75 per cent compared to the period of COVID-19 outbreak. Tourism industry in the country witnessed a severe blow due to the impacts of the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director Lamichhane, the country has witnessed a positive growth in arrival of tourists from Bangladesh and Europe that led to the recovery of tourism industry. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15127', 'image' => '20220603082629_20220530105125_Tourist.jpg', 'article_date' => '2022-06-03 08:24:39', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15399', 'article_category_id' => '1', 'title' => 'Food Lab set up in Raxaul', 'sub_title' => '', 'summary' => 'June 6: India has set up National Food Laboratory in the bordering Indian city of Raxaul.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 6: India has set up National Food Laboratory in the bordering Indian city of Raxaul.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Indian Minister for Health and Family Welfare, Dr Mansukh Mandaviya inaugurated the laboratory on Sunday. Nepal's Minister for Agriculture and Livestock Development, Mahendra Raya Yadav was also present during the inauguration of the food laboratory.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The laboratory has been set up by the Food Safety and Standards Authority of India (FSSAI). With the establishment of the laboratory, it will be easier for India to test the quality of various goods exported from Nepal. Nepali exporters had previously been demanding the establishment of such laboratory in Raxaul.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Exporter Suresh Rungata of Birgunj said that it will now be easier to test refined oil, semi-refined oil, food grains, leather and other goods exported from Nepal to India. Earlier, there was a compulsion to send the samples of such items to laboratories in Kolkata or Delhi for testing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to FSSAI, the laboratory is equipped with high technology and infrastructure. The laboratory set up at Raxaul will save time on sample testing for exports of Nepal's food and agricultural products. Establishment of this lab is expected to boost bilateral trade between Nepal and India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to FSSAI, the structure was set up to improve connectivity, trade and border infrastructure with Nepal in line with the ‘Neighbor First’ policy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15141', 'image' => '20220606021954_1654490533.रक्सौलमा खाद्य प्रयोगशाला.jpg', 'article_date' => '2022-06-06 14:18:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15398', 'article_category_id' => '1', 'title' => 'Nepal Compelled to Import Electricity even though it has Started Exporting Electricity to India', 'sub_title' => '', 'summary' => 'June 6: Nepal Electricity Authority (NEA) has started exporting electricity to India as domestic production has started to rise. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 6: Nepal Electricity Authority (NEA) has started exporting electricity to India as domestic production has started to rise. Although the NEA has been exporting surplus electricity to India, it is still compelled to import electricity from the neighbouring country.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA is still importing at least 60 MW of electricity from India daily. NEA has been importing electricity from the Tanakpur transmission line especially targeting the far western region. The number of power projects in the far west is low. However, the area has not been able to generate electricity as per the demand. NEA has not been able to supply electricity generated in other areas to the far west due to insufficient transmission lines. NEA spokesperson Suresh Bhattarai said that there is still an obligation to import electricity due to such technical problems.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Even if we start exporting electricity to India, we are still forced to import it due to technical problems," he said. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The far western region has not been able to generate electricity as per the demand,” he said, “So we are importing 50/60 MW electricity from Tanakpur even under normal conditions.” </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, this situation does not last long. Due to the increase in domestic production, the import of electricity will soon be stopped, he added.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA started exporting electricity to India from last Thursday with the increase in domestic production. NEA has been exporting 39 MW of electricity from Trishuli and Devighat hydropower projects. The Kaligandaki Hydropower Project, with a capacity of 144 MW, has been exporting an additional 140 MW of electricity since Saturday. NEA is exporting electricity to India at a maximum of Rs 19 (IRs 12) per unit.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the hydropower projects in Nepal are based on river flow system. Therefore, projects run at full capacity when the river overflows during the rainy season. When the production here is high, it can be exported to India. However, when the water level in the river decreases in winter, the production decreases. At that time, NEA has been meeting the demand by importing electricity from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In India, with more coal-based projects, electricity can be generated as needed at any time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, due to recent tensions between Russia and Ukraine, power generation in India is low due to a shortage of coal. As a result, the buying and selling of electricity in India is still costly. In such situation, NEA could not get enough electricity from the Indian market for half a month. At that time, NEA had even carried out load shedding here. Now there is no need for load shedding in the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15140', 'image' => '20220606013706_NEA.jpg', 'article_date' => '2022-06-06 13:36:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15397', 'article_category_id' => '1', 'title' => 'The Labor Minister Directs Concerned Bodies to Address the Complaints of Laborers. ', 'sub_title' => '', 'summary' => 'June 6: Minister for Labor, Employment and Social Security Krishna Kumar Shrestha has directed the concerned officials and counselors in labour destination countries to address the grievances of Nepali migrant workers.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">June 6: Minister for Labor, Employment and Social Security Krishna Kumar Shrestha has directed the concerned officials and counselors in labour destination countries to address the grievances of Nepali migrant workers. Minister Shrestha gave such instructions during an orientation held for the newly appointed counselors for Saudi Arabia, the United Arab Emirates, Bahrain and Qatar. He said that the grievances of Nepali workers in those countries were not addressed although they visited the embassy in the respective country to file complaints.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In addition to this, Minister Shrestha also said that the counselors should ensure the protection of the rights of the workers, rescue them in case of problems and help in resolving disputes between the employers and the workers. Moreover, Secretary at the Ministry Ek Narayan Aryal stressed on the need for counselors and labor associates to be aware of foreign laws and the issue of migrant workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the orientation, experts provided training on foreign employment management systems, labor immigration, bilateral labor agreement, labor diplomacy, and laws related to foreign employment. There is a legal provision to have a labor companion to assist the workers abroad. The ministry has appointed Devendra Karki as counselor in Riyadh, Saudi Arabia, and Deen Bandhu Subedi in the UAE, as well as Jamuna Kafle in Bahrain and Krishna Poudel in Qatar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, Minister Shrestha said that the social security fund needs to be restructured to increase the attraction of employers and contributors. Speaking at a discussion programme organized at the Ministry of Labor on the effective operation and management of the Social Security Fund, Minister Shrestha stressed on the need to increase the attraction of employers and workers towards the fund. He also said that the plan of the fund should be reviewed to increase the attraction of employers and contributors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Secretary of the Ministry Aryal said that the fund should give confidence to the employers and contributors that social security would be guaranteed. This, according to him, can be done by bringing attractive facilities and schemes. He said that new arrangements should be made for proper mobilization and investment of the money in the fund and management of the return from it. Social security expert Krishna Acharya said that the social security fund should bring attractive facilities and schemes to the employers and workers of small and medium enterprises. He suggested that the structural reforms of the fund and the mobilization and investment arrangements of the funds should also be reviewed. Stakeholders say that the contribution-based social security programme should be promoted in a way that benefits both the workers and the employers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15139', 'image' => '20220606122050_Nepal-workers-in-Qatar-Gulf.jpg', 'article_date' => '2022-06-06 12:19:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15396', 'article_category_id' => '1', 'title' => 'Study Committee Recommends West Seti Project to be Built on PPP Model', 'sub_title' => '', 'summary' => 'June 5: A study committee formed by Investment Board Nepal (IBN) has recommended constructing the West Seti Reservoir-based Hydro Power Project in Public-Private Partnership (PPP) model.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 5: A study committee formed by Investment Board Nepal (IBN) has recommended constructing the West Seti Reservoir-based Hydro Power Project in Public-Private Partnership (PPP) model.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">IBN had formed a committee to study the best modality of the project. The committee has recommended the board to build the project in the PPP model. Prime Minister Sher Bahadur Deuba, who is also the chairman of the board, had hinted at a public event last month that an Indian company would be allowed to build West Seti Hydro Power Project.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, the study committee chaired by National Planning Commission Vice-Chairman Biswanath Poudel submitted a report to the board with the conclusion that it would be better to build the project in the PPP model. It will be implemented after being passed by the board meeting of IBN.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">IBN spokesperson Amrit Lamsal said that the study committee has submitted the report with the conclusion that it would be better to build the West Seti project in the PPP model. He said that the report will be presented at the upcoming board meeting.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Studies have shown that it would be better to build the project in the PPP model,” he said, adding that if investors and promoters are not attracted, other models can also be considered. “Let's see what the board decides, then the construction work will move forward.”'</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The selected promoter company will also be able to review the capacity of the project. Earlier, a study conducted in 1997 had shown the capacity of the project to be 750 MW.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">It has been 25 years since the study was conducted. It is estimated that the previously determined production capacity may change during this period due to natural changes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Therefore, the company selected to build the project could conduct further study and review the capacity, said Lamsal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A new study by the board has shown that making the project a semi-reservoir will generate 615 MW of electricity. Spokesperson Lamsal said that the investment would be Rs 150 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This project was first discussed in 1980. At that time, a French company had shown the possibility of constructing a 37 MW capacity project in Baitadi. Ten years later, the government made it a national pride project. In the meantime, various studies were conducted on the project. In the end, the capacity was determined to be 750 MW.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The project was initially undertaken by an Australian company in 1994, which said after almost two decades that it could not proceed ahead with the project.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Then in 2068 BS, it was given to the Chinese company Three Gorges. Later, Three Gorges also withdrew from the project. The project, which has been in limbo since then, is now expected to go into construction.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15138', 'image' => '20220606022038_1654407288.seti.jpg', 'article_date' => '2022-06-05 18:34:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15395', 'article_category_id' => '1', 'title' => '140 MW Electricity from Kaligandaki Exported to India', 'sub_title' => '', 'summary' => 'June 5: Nepal Electricity Authority (NEA) has made arrangements to export 140 MW of electricity generated from the 144 MW Kaligandaki A Power House owned by the state-owned utility to India since Saturday night.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 5: Nepal Electricity Authority (NEA) has made arrangements to export 140 MW of electricity generated from the 144 MW Kaligandaki A Power House owned by the state-owned utility to India since Saturday night.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA has been exporting 37.7 MW of electricity daily to the Indian Energy Exchange (IEX) since Thursday from the electricity generated by Trishuli and Devighat hydropower plants. NEA informed that arrangements have been made to export 140 MW of electricity generated by Kaligandaki to India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA exported the surplus energy to India after the power house started operating in full capacity due to increased flow of water in the river with the onset of rainy season. NEA’s Executive Director Kul Man Ghising said that the average selling price of electricity exported now is NRs 11.2 per unit (IRs 7). </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The maximum rate is NRs 19 (IRs 12) per unit, minimum NRs 2.30 (IRs 1.49) and average is NRs 11.2 (IRs 7),” said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In IEX, 24 hours are divided into 96 parts of 15/15 minutes and electricity is traded at competitive rates fixed by the market. This causes price variation in each block.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the NEA, the maximum and minimum prices of electricity exported since Thursday is IRs 12 (NRs 19.2) per unit and IRs 2.49 (NRs 3.9) per unit, respectively. The average price of that day is IRs 6.72 (NRs 10.76) per unit. Nepal is allowed to sell up to 364 MW of electricity at competitive rates in the Indian Energy Exchange Market.</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' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15137', 'image' => '20220605061316_elec.jpg', 'article_date' => '2022-06-05 18:12:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15394', 'article_category_id' => '1', 'title' => 'Lawmakers Draw Government's Attention Towards Rising Inflation ', 'sub_title' => '', 'summary' => 'June 5: Lawmakers have urged the government to immediately find out the reasons for the steep rise in market prices and stem out the problem. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Lawmakers have urged the government to immediately find out the reasons for the steep rise in market prices and stem out the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the discussions on a proposal of urgent public importance related to the hike in the price of petroleum products during a session of the House of Representatives on Friday, the Members of Parliament (MPs) said that inflation has broken the back of the common man and has affected the daily life of the public. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Krishna Bhakta Pokharel said the general people were finding it hard to make ends meet due to the price hike. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">MP Pushpa Bhusal stressed on lessening the imports and increasing export for building a robust economy while Dila Sangraula drew the attention of the government to address the problem of rising market prices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former minister and MP Lal Babu Pandit accused the government of not carrying out market monitoring in an effective manner due to which the consumers are always at the receiving end. Narayan Prasad Khatiwada called on the government to bring effective plans for checking inflation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another MP Sher Bahadur Tamang stressed on the need of taking drastic measures to bring down the price of essential commodities including cooking oil for providing relief to the consumers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Samina Hussein demanded finding out the root cause of price hike to bring an effective plan for addressing it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CPN (UML) whip Bishal Bhattarai had presented the proposal of urgent public importance drawing the government's attention towards the steep rise in inflation as well as the market prices of essential commodities. He accused the government of failing to take any measures to discourage inflation and increasing the prices of petroleum products such as cooking gas, diesel, petrol and kerosene against provisions of automated price adjustment of fuels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the proposal claimed, the multi-dimensional impact of the rise of prices of petroleum products had not been analysed and the need for discussions with opposition and experts from relevant fields was ignored to assess ways for price adjustment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the Nepal’s constitution has guaranteed the citizens’ right to live with dignity, the price rise has made the livelihood of people with minimum and meagre income difficult,” the main opposition party said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"So it is imperative to come up with a clear draft promptly for reduction of the prices of petroleum products and thus to ensure the primary and most significant responsibility of the state which is to make the basic needs of the people addressed," the proposal reads. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The proposal was seconded by lawmakers Yagya Raj Sunuwar, Ganesh Kumar Pahadi and Rajendra Lingden. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15136', 'image' => '20220605121907_Parliament.jpg', 'article_date' => '2022-06-05 12:18:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15393', 'article_category_id' => '1', 'title' => 'Nepal Chamber Expo-2022 in mid-June ', 'sub_title' => '', 'summary' => 'June 5: Nepal Chamber of Commerce (NCC) is all set to organize the 'Nepal Chamber Expo-2022' at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from June 16 to 20. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Nepal Chamber of Commerce (NCC) is all set to organize the 'Nepal Chamber Expo-2022' at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from June 16 to 20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The expo is being held in collaboration with the Ministry of Commerce and the Trade and Export Promotion Center. </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 fifth edition of the expo will focus on business interaction, sharing information on import and export, and marketing of Nepali products.</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 NCC said that the expo is being organized to promote export and attract foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the NCC, priority will be given to increase public awareness about consumer interest in using quality goods while encouraging all the business community to promote exportable goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This is the fifth edition of the expo and Bangladesh is the 'partner country' of the fair. Accordingly, Bangladeshi industrialists and businessmen will participate in the fair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the organizers, there will be 150 stalls from home and abroad in the five-day fair. Goods produced in Nepal, India, Pakistan, Bangladesh and other countries will be displayed in the fair. </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15135', 'image' => '20220605120907_fff.jpg', 'article_date' => '2022-06-05 12:08:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15392', 'article_category_id' => '1', 'title' => 'Finance Minister Defends Budget', 'sub_title' => '', 'summary' => 'June 5: Finance Minister Janardan Sharma has defended the budget announced for the upcoming fiscal year (FY 2022/23) after around a dozen programmes included in the budget courted controversy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Finance Minister Janardan Sharma has defended the budget announced for the upcoming fiscal year (FY 2022/23) after around a dozen programmes included in the budget courted controversy.</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"">Members of Parliament have raised questions over the provision related to old-age allowance as well as hike in tax for import of electric vehicles and lowering of tax on sanitary pads among others.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government has been criticized for lowering the age bar for receiving old-age allowance from 70 years to 68 years at a time when it is struggling to manage resources for the budget. Finance Minister Sharma defended the move arguing that the average life expectancy of people from the backward communities is lower than that of the general population. According to him, the data collected for the 15<sup>th</sup> periodic plan of the government showed that the average life expectancy of Sudur Paschim and Karnali provinces is 67/68 years. Therefore, the government decided to grant old-age allowance to elderly citizens of 68 years and above. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma claimed that the government has not increased tax for importing electric vehicles. According to the minister, the government has not increased tax on 13 different models of electric vehicles of less than 100 kilowatt capacity. The import duty on electric vehicles of above 100 kiliwatts has been increased marginally, said Minister 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"">“An electric vehicles that costs Rs 6 million at present will cost Rs 6.8 million. We increased the tax marginally after it was found that the country has to spend more foreign currency for importing electric vehicles than the vehicles driven by fossil fuel,” said 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"">He argued that only well-off people purchase electric vehicles of more than 100 kilowatt capacity and an additional tax of Rs 800,000 to Rs 1 million will not be much of a burden to the affluent class of people. “The general public will not have to bear the brunt,” said 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"">Likewise, Minister Sharma said that the government decided to waive customs duty on sanitary pads upon the pressing demand from women.</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"">“Last year, women had protested demanding rebate on pink tax. So we waived the tax to fulfill the demand,” said 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"">He further said that the government had given concession on imports of raw materials in order to promote domestic industries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the budget for the next fiscal is only 9.86 per cent bigger in size compared to the budget of the current fiscal, he said it should not be labeled as ambitious. He argued that the budget has been formulated keeping in mind the main goal of the constitution and federalism. </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 finance minister said the budget included programmes as incentives to the agriculture sector, utilization of the uncultivated land and attracting the youths towards agriculture. In this connection, he mentioned about the contribution-based farmers welfare fund for drawing the farmers to agriculture and retaining them and the budget's emphasis on domestic production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget also incorporated topics as development of production-based industries and export promotion, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stressing that the nation's economy is on the road to recovery and that all sectors except tourism have come to their previous state, he said the revenue collection too was satisfactory. The finance minister also expressed his belief that the economic growth rate in the upcoming fiscal year would be eight per cent, mainly due to the investment made for promoting agriculture production and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He stated that the foreign assistance in the current fiscal year is encouraging and the basis for bringing in foreign investment next fiscal year has been prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister gave assurances that farmers will not be facing fertilizer shortage as budget would be managed as per the requirement. He said that adequate budget has been allocated for fertilizer and seed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He pledged that mega projects including Nijgadh International Airport would be started from this year. (With inputs from RSS)</span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15134', 'image' => '20220605115035_ROS_KTM-4187.jpg', 'article_date' => '2022-06-05 11:49:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15391', 'article_category_id' => '1', 'title' => 'Government to Form Committee to Systematise Supplies of Petroleum Products ', 'sub_title' => '', 'summary' => 'June 5: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that a high-level committee would be formed to suggest ways for better managing the demand, supply and distribution chain of petroleum products and for handling economic impacts due to adjustment of prices 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 5: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that a high-level committee would be formed to suggest ways for better managing the demand, supply and distribution chain of petroleum products and for handling economic impacts due to adjustment of prices of petroleum products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Responding to the issues raised during the deliberations on a proposal of urgent public importance relating to the reduction of prices of petroleum products in a meeting of the House of Representatives on June 3, the minister said it was decided to form the committee under the convenorship of National Planning Commission vice chair. The committee will advise the government on matters related to restructuring of Nepal Oil Corporation, use of green energy and involvement of private sector in the distribution of petroleum products and so on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that it was a compulsion for the government to hike the prices of petroleum products following its soaring prices in the international market due to the ongoing Russia-Ukraine war. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the minister, the price of petrol was reduced by Rs 10 per litre despite a loss of Rs 31 per litre as per the price list obtained by the NOC from its supplier on June 1.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The government is responsible for providing a relief to the consumers,” he said adding that the pricelist of petroleum products was adjusted twice a month not time and again as mentioned in the proposal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing the house session about the government's plan to launch the use of electric stove as a campaign, the minister assured of the effective implementation of the campaign. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15133', 'image' => '20220605110514_20220603081851_845791-fuel-istock-070819.jpg', 'article_date' => '2022-06-05 08:24:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15390', 'article_category_id' => '1', 'title' => 'Govt Clear on Building Nijgadh Int'l Airport: Finance Minister', 'sub_title' => '', 'summary' => 'June 5: Finance Minister Janardan Sharma on Saturday said the government was clear on constructing the Nijgadh International Airport in Bara. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Finance Minister Janardan Sharma on Saturday said the government was clear on constructing the Nijgadh International Airport in Bara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Construction of the project has come to a halt following a verdict of the Supreme Court. The apex court has ordered the government not to continue with the project. However, the finance minister insists that the project will move ahead.</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"">"Nijgadh airport should and will be constructed. This is my commitment. The incumbent government has accorded high priority to the project," he said while addressing the 46th annual general meeting of the Birgunj Chamber of Commerce and Industry in Birgunj. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project is needed not only as an alternative to the Tribhuvan International Airport, but for the entire economic development of the Madhes and the whole country, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There is an urgent need to construct the project and the Kathmandu-Tarai fast-track the Madhes Province with Kathmandu," he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On a different note, the minister said that the process of resuming operation of the <span style="font-family:"Arial Unicode MS","sans-serif"">Birgunj Sugar Industry has been initiated.</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 budget has programmes to resume operation of the industry. Such programmes have been made on the basis of a study carried out for six to seven months, added the minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that the voices of industrialists and entrepreneurs of Birgunj have been addressed through the government's policies and programmes for the next fiscal year (FY 2022/23). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, stating that Birgunj is a lifeline for trade, Finance Secretary Madhu Kumar Marasini said, "There have been efforts for self-reliance and industrializing industry and trade through the budget." -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15132', 'image' => '20220605082424_Environment (4).jpg', 'article_date' => '2022-06-05 08:23:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15389', 'article_category_id' => '1', 'title' => 'Sugar Industrialists Increase Price of Sugar Arbitrarily ', 'sub_title' => '', 'summary' => 'June 3: Nepal’s sugar mills have increased the prices of sugar arbitrarily after India announced a ban on sugar exports. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">June 3: Nepal’s sugar mills have increased the prices of sugar arbitrarily after India announced a ban on sugar exports. A year ago, the factory price of sugar was Rs 85 per kg including value added tax (VAT). Today, the factory price has been raised to Rs 90 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Birendra Kumar Sah, the marketing manager of Eastern Sugar Mill, said that currently they are selling sugar at Rs 90 per kg including VAT. Sah further added that a year ago the factory price of sugar was Rs 85 per kg but depending on the market conditions, the prices may fluctuate. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had banned Letter of Credit (LC) for sugar imports after the emergence of domestic sugar industries. India, on the other hand, has decided to ban sugar exports to Nepal for two months for food security reasons. Sugar importers have accused the sugar mills of increasing the price of sugar by Rs 5 per kg after India imposed such ban.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">They accused the government of giving undue favour to the sugar mills. They further claimed that the government had fixed the price of sugarcane but did not fix the price of sugar. This has given opportunity to the sugar mills to form a cartel depending on the market conditions. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Navratan Luniya, a sugar importer who has been working in the sugar industry for two decades, warned that the price of sugar would go up to Rs 100 per kg after July as the government did not allow him to open an LC to import sugar. Nepal's production is enough to sustaine the local demand for only five months and the rest has to be imported, he further added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Additionally, Luniya claimed that the government had stopped opening LC for importing sugar, but there is still a large quantity of sugar being smuggled into Nepal. In India, sugar is available for Rs 56 per kg. The retail price of sugar in Nepal is Rs 90. As the margin of profit per kg of sugar is Rs 34 per kg, a large quantity of sugar is entering Nepal illegally through the open border, said Luniya. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another businessman, Jeevan Rijal, said that the government has been unjust to the consumers by allowing the industrialists to do whatever they want. "By opening an LC and bringing sugar, consumers would get sugar at around Rs 10 less than what the sugar mills are currently offering." At present, the industrialists have set their own prices, added Rijal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The annual consumption of sugar in Nepal is 250,000 tons. Domestic industries produce 100,000 tons. The remaining 150,000 tonnes of sugar is supplied through imports. The production of Nepal's industries lasts about 5 months. Rijal said that they have to meet the demand for the remaining seven months through imports.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15131', 'image' => '20220603040024_sugar.jpg', 'article_date' => '2022-06-03 15:59:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15388', 'article_category_id' => '1', 'title' => 'Stakeholders Stress on Effective Implementation of Budget', 'sub_title' => '', 'summary' => 'June 3: Stakeholders have emphasized on the effective implementation of the budget presented in parliament for the Fiscal Year 2022/23.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: Stakeholders have emphasized on the effective implementation of the budget presented in parliament for the Fiscal Year 2022/23. Speaking at an interaction organized jointly by the Nepal Economic Association, the Confederation of Banks and Financial Institutions Nepal (CBFIN) and the Ministry of Finance in Kathmandu on Thursday, the stakeholders stressed that implementation of budget is essential for building a self-reliant economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Senior economist and President of Nepal Economic Association Prof. Dr. Bishwambher Pyakuryal presented a paper on budget at the interaction. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Even if the budget looks positive overall, there will be difficulties in achieving the revenue target set by the government, which might further increase inflation and public debt,” said Pyakurel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist Dr Poshraj Pandey said that the budget is promising only by its looks. Senior economist Prof Dr Govindra Nepal said that the budget is inclusive and transformative. In addition, he pointed out the need for in-depth study for the implementation of various programmes and projects.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">CBFIN chairman Pawan Kumar Golyan said the budget is focused on agriculture, production, employment, import substitution and building a self-reliant economy. However, he said that no concrete plan is formulated yet to solve the problem of liquidity crisis. He said that some of the tax exemptions have raised suspicions that they are promoting imports rather than exports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Secretary Madhu Kumar Marasini said that despite the pressure on the economy, the budget has been kept within the limits. He remarked, “Despite the budget being a political-economic document, it also carries some goals. But in our country, which is rich in natural resources and has immense potential, the implementation of the issues directed by the budget will help in economic prosperity.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Senior Advisor to the Ministry of Finance Dr Surendra Upreti said that the budget came up with the expectations and needs of the general public and all stakeholders. He said, “As the budget empowers the state and local bodies with a large amount of financial transfers, it will be implemented effectively."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Finance Minister Janardan Sharma said that the budget covers the desires and demands of all. “This budget is yours as it has been formulated on the basis of suggestions, needs, expectations and recommendations received through discussions and interactions with all stakeholders. I have only presented it as a representative. Now let's all take ownership and move towards implementation with commitment.” He urged all parties to support the country's goal of building a self-reliant and socialism-oriented economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15130', 'image' => '20220603032519_budget new.jpg', 'article_date' => '2022-06-03 15:24:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15387', 'article_category_id' => '1', 'title' => 'Ruling Parties Unhappy with Budget', 'sub_title' => '', 'summary' => 'June 3: Leaders of the ruling parties have expressed their dissatisfaction over the increase in the size of the budget for the upcoming fiscal year 2022/23 unveiled by the government and the programmes included in it.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: Leaders of the ruling parties have expressed their dissatisfaction over the increase in the size of the budget for the upcoming fiscal year 2022/23 unveiled by the government and the programmes included in it. The government presented the budget for the upcoming fiscal year by increasing the size by one and a half billion rupees as compared to the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In a meeting of the federal parliament held on Thursday, lawmaker of the ruling Nepali Congress Gagan Thapa asked the finance minister the reason for increasing the size of the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thapa said that although the principles adopted by the government and its priorities included in budget were reasonable, he raised questions regarding the government’s ability to spend and resource management for the budget. He stated that the increase in the size of the budget raised questions in its implementation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Last year's budget is yet to be spent. What is the basis for spending the increased budget?” said Thapa. The government has allocated capital expenditure of Rs. 380.38 billion for the upcoming fiscal year. Out of Rs 378 billion allocated in the current fiscal year, only 33 percent has been spent so far. Thapa also demanded an answer from the Finance Minister over resource management. Thapa questioned the basis of foreign grants.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“This year, Rs 24 billion out of Rs 63 billion was received. What is the basis for receiving Rs 55 in the upcoming fiscal year? What is the basis of transparency in budget implementation?” he questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thapa, who is also a former health minister, criticized the government for not understanding the works related to insurance and said that it has plans to hand over the insurance sector to the companies. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Participating in the discussion on the budget, an MP from the main opposition CPN (UML) and former foreign minister Pradip Gyawali also questioned the budget brought by the government. Gyawali suggested the government and the leaders of the ruling parties not to pursue big plans to meet political ends. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“You are saying that you will increase foreign investment, but your actions are constantly discouraging foreign investors. MCC was the centre of conflict until recently, but you still passed the MCC, and I thank you for that,” said Gyawali. According to him, those who come to invest in Nepal aim to make profit. So, the investment environment should not be disturbed by making the foreign investment policy unstable.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15129', 'image' => '20220603020242_RS_KTM-20220524_163359.jpg', 'article_date' => '2022-06-03 14:01:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15386', 'article_category_id' => '1', 'title' => 'Increasing Electricity Consumption in Top Priority of Government', 'sub_title' => '', 'summary' => 'June 3: The government has announced various energy-related programmes prioritizing electricity consumption in the upcoming fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: The government has announced various energy-related programmes prioritizing electricity consumption in the upcoming fiscal year. Despite the increase in power generation, the government could not come up with a specific plan to increase energy consumption. However, the government has announced various programmes to increase electricity consumption through the budget for the upcoming fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has allocated budget for various programmes to increase power generation, develop electricity-related infrastructure, and expand the scope of electricity trade. The government has adopted a policy to increase electricity consumption in industries, households, transportation, and the public sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government also plans to increase the use of electric vehicles. The budget mentions that the transport service of big cities will be gradually converted into electronic system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget addressed the installation of charging stations in 50 places through the country. Charging stations will also be set up at petrol pumps. It is mentioned in the budget that the private sector will be encouraged to do so.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget also mentions that the kitchens of domestic households and public organisations will be converted into electric kitchen. For this, a campaign called 'Leave LP Gas: Connect Electricity' will be launched.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, it is mentioned in the budget that the subsidy being given for LP gas will be gradually reduced, and the subsidy will be given for the use of electricity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has announced the use of electric stoves in place of LP gas cylinders from Singha Durbar premises within this summer. The government has announced plans to make all public offices and residences in the metropolis and sub-metropolis LP gas-free within the next three months.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government plans to reduce the use of LP gas and petroleum products in the Kathmandu Valley by strengthening the power distribution infrastructure within three years. In addition, it is mentioned in the budget that public bodies will be required to purchase electric vehicles.The government has brought a program to gradually replace the traditional brick kilns with electric brick kilns.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, an arrangement has been made to give 15 per cent discount to the industries consuming electricity worth Rs 100 million per month. It is mentioned in the budget that electricity will be provided for irrigation facility at subsidized rate to make the country self-reliant in agriculture.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget aims to increase per capita electricity consumption to 400 kWh annually by increasing energy consumption in domestic, industrial, transport, agriculture and irrigation sectors next year. At present, the per capita, electricity consumption is 325 kWh. The government has announced plans to provide access to electricity to all citizens in the next two years.</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></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15128', 'image' => '20220603115109_elec.jpg', 'article_date' => '2022-06-03 11:50:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15385', 'article_category_id' => '1', 'title' => '190K Tourists Visited Nepal in First Five Months of 2022 ', 'sub_title' => '', 'summary' => 'June 3: A total of 190,739 tourists visited Nepal in the first five months of 2022, Nepal Tourism Board (NTB) said citing the data of the Department of Immigration. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 3: A total of 190,739 tourists visited Nepal in the first five months of 2022, Nepal Tourism Board (NTB) said citing the data of the Department of Immigration. </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 board, the number of tourists visiting Nepal during last month (May) was 53,608 while the number of visitors in the previous month (April) was 58,384.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director of Nepal Tourism Board Maniraj Lamichhane said that the tourism industry of the country has recovered by almost 75 per cent compared to the period of COVID-19 outbreak. Tourism industry in the country witnessed a severe blow due to the impacts of the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director Lamichhane, the country has witnessed a positive growth in arrival of tourists from Bangladesh and Europe that led to the recovery of tourism industry. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15127', 'image' => '20220603082629_20220530105125_Tourist.jpg', 'article_date' => '2022-06-03 08:24:39', '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' => '15399', 'article_category_id' => '1', 'title' => 'Food Lab set up in Raxaul', 'sub_title' => '', 'summary' => 'June 6: India has set up National Food Laboratory in the bordering Indian city of Raxaul.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 6: India has set up National Food Laboratory in the bordering Indian city of Raxaul.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Indian Minister for Health and Family Welfare, Dr Mansukh Mandaviya inaugurated the laboratory on Sunday. Nepal's Minister for Agriculture and Livestock Development, Mahendra Raya Yadav was also present during the inauguration of the food laboratory.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The laboratory has been set up by the Food Safety and Standards Authority of India (FSSAI). With the establishment of the laboratory, it will be easier for India to test the quality of various goods exported from Nepal. Nepali exporters had previously been demanding the establishment of such laboratory in Raxaul.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Exporter Suresh Rungata of Birgunj said that it will now be easier to test refined oil, semi-refined oil, food grains, leather and other goods exported from Nepal to India. Earlier, there was a compulsion to send the samples of such items to laboratories in Kolkata or Delhi for testing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to FSSAI, the laboratory is equipped with high technology and infrastructure. The laboratory set up at Raxaul will save time on sample testing for exports of Nepal's food and agricultural products. Establishment of this lab is expected to boost bilateral trade between Nepal and India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to FSSAI, the structure was set up to improve connectivity, trade and border infrastructure with Nepal in line with the ‘Neighbor First’ policy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15141', 'image' => '20220606021954_1654490533.रक्सौलमा खाद्य प्रयोगशाला.jpg', 'article_date' => '2022-06-06 14:18:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15398', 'article_category_id' => '1', 'title' => 'Nepal Compelled to Import Electricity even though it has Started Exporting Electricity to India', 'sub_title' => '', 'summary' => 'June 6: Nepal Electricity Authority (NEA) has started exporting electricity to India as domestic production has started to rise. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 6: Nepal Electricity Authority (NEA) has started exporting electricity to India as domestic production has started to rise. Although the NEA has been exporting surplus electricity to India, it is still compelled to import electricity from the neighbouring country.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA is still importing at least 60 MW of electricity from India daily. NEA has been importing electricity from the Tanakpur transmission line especially targeting the far western region. The number of power projects in the far west is low. However, the area has not been able to generate electricity as per the demand. NEA has not been able to supply electricity generated in other areas to the far west due to insufficient transmission lines. NEA spokesperson Suresh Bhattarai said that there is still an obligation to import electricity due to such technical problems.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Even if we start exporting electricity to India, we are still forced to import it due to technical problems," he said. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The far western region has not been able to generate electricity as per the demand,” he said, “So we are importing 50/60 MW electricity from Tanakpur even under normal conditions.” </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, this situation does not last long. Due to the increase in domestic production, the import of electricity will soon be stopped, he added.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA started exporting electricity to India from last Thursday with the increase in domestic production. NEA has been exporting 39 MW of electricity from Trishuli and Devighat hydropower projects. The Kaligandaki Hydropower Project, with a capacity of 144 MW, has been exporting an additional 140 MW of electricity since Saturday. NEA is exporting electricity to India at a maximum of Rs 19 (IRs 12) per unit.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the hydropower projects in Nepal are based on river flow system. Therefore, projects run at full capacity when the river overflows during the rainy season. When the production here is high, it can be exported to India. However, when the water level in the river decreases in winter, the production decreases. At that time, NEA has been meeting the demand by importing electricity from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In India, with more coal-based projects, electricity can be generated as needed at any time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, due to recent tensions between Russia and Ukraine, power generation in India is low due to a shortage of coal. As a result, the buying and selling of electricity in India is still costly. In such situation, NEA could not get enough electricity from the Indian market for half a month. At that time, NEA had even carried out load shedding here. Now there is no need for load shedding in the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15140', 'image' => '20220606013706_NEA.jpg', 'article_date' => '2022-06-06 13:36:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15397', 'article_category_id' => '1', 'title' => 'The Labor Minister Directs Concerned Bodies to Address the Complaints of Laborers. ', 'sub_title' => '', 'summary' => 'June 6: Minister for Labor, Employment and Social Security Krishna Kumar Shrestha has directed the concerned officials and counselors in labour destination countries to address the grievances of Nepali migrant workers.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">June 6: Minister for Labor, Employment and Social Security Krishna Kumar Shrestha has directed the concerned officials and counselors in labour destination countries to address the grievances of Nepali migrant workers. Minister Shrestha gave such instructions during an orientation held for the newly appointed counselors for Saudi Arabia, the United Arab Emirates, Bahrain and Qatar. He said that the grievances of Nepali workers in those countries were not addressed although they visited the embassy in the respective country to file complaints.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In addition to this, Minister Shrestha also said that the counselors should ensure the protection of the rights of the workers, rescue them in case of problems and help in resolving disputes between the employers and the workers. Moreover, Secretary at the Ministry Ek Narayan Aryal stressed on the need for counselors and labor associates to be aware of foreign laws and the issue of migrant workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the orientation, experts provided training on foreign employment management systems, labor immigration, bilateral labor agreement, labor diplomacy, and laws related to foreign employment. There is a legal provision to have a labor companion to assist the workers abroad. The ministry has appointed Devendra Karki as counselor in Riyadh, Saudi Arabia, and Deen Bandhu Subedi in the UAE, as well as Jamuna Kafle in Bahrain and Krishna Poudel in Qatar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, Minister Shrestha said that the social security fund needs to be restructured to increase the attraction of employers and contributors. Speaking at a discussion programme organized at the Ministry of Labor on the effective operation and management of the Social Security Fund, Minister Shrestha stressed on the need to increase the attraction of employers and workers towards the fund. He also said that the plan of the fund should be reviewed to increase the attraction of employers and contributors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Secretary of the Ministry Aryal said that the fund should give confidence to the employers and contributors that social security would be guaranteed. This, according to him, can be done by bringing attractive facilities and schemes. He said that new arrangements should be made for proper mobilization and investment of the money in the fund and management of the return from it. Social security expert Krishna Acharya said that the social security fund should bring attractive facilities and schemes to the employers and workers of small and medium enterprises. He suggested that the structural reforms of the fund and the mobilization and investment arrangements of the funds should also be reviewed. Stakeholders say that the contribution-based social security programme should be promoted in a way that benefits both the workers and the employers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15139', 'image' => '20220606122050_Nepal-workers-in-Qatar-Gulf.jpg', 'article_date' => '2022-06-06 12:19:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15396', 'article_category_id' => '1', 'title' => 'Study Committee Recommends West Seti Project to be Built on PPP Model', 'sub_title' => '', 'summary' => 'June 5: A study committee formed by Investment Board Nepal (IBN) has recommended constructing the West Seti Reservoir-based Hydro Power Project in Public-Private Partnership (PPP) model.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 5: A study committee formed by Investment Board Nepal (IBN) has recommended constructing the West Seti Reservoir-based Hydro Power Project in Public-Private Partnership (PPP) model.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">IBN had formed a committee to study the best modality of the project. The committee has recommended the board to build the project in the PPP model. Prime Minister Sher Bahadur Deuba, who is also the chairman of the board, had hinted at a public event last month that an Indian company would be allowed to build West Seti Hydro Power Project.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, the study committee chaired by National Planning Commission Vice-Chairman Biswanath Poudel submitted a report to the board with the conclusion that it would be better to build the project in the PPP model. It will be implemented after being passed by the board meeting of IBN.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">IBN spokesperson Amrit Lamsal said that the study committee has submitted the report with the conclusion that it would be better to build the West Seti project in the PPP model. He said that the report will be presented at the upcoming board meeting.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Studies have shown that it would be better to build the project in the PPP model,” he said, adding that if investors and promoters are not attracted, other models can also be considered. “Let's see what the board decides, then the construction work will move forward.”'</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The selected promoter company will also be able to review the capacity of the project. Earlier, a study conducted in 1997 had shown the capacity of the project to be 750 MW.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">It has been 25 years since the study was conducted. It is estimated that the previously determined production capacity may change during this period due to natural changes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Therefore, the company selected to build the project could conduct further study and review the capacity, said Lamsal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A new study by the board has shown that making the project a semi-reservoir will generate 615 MW of electricity. Spokesperson Lamsal said that the investment would be Rs 150 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This project was first discussed in 1980. At that time, a French company had shown the possibility of constructing a 37 MW capacity project in Baitadi. Ten years later, the government made it a national pride project. In the meantime, various studies were conducted on the project. In the end, the capacity was determined to be 750 MW.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The project was initially undertaken by an Australian company in 1994, which said after almost two decades that it could not proceed ahead with the project.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Then in 2068 BS, it was given to the Chinese company Three Gorges. Later, Three Gorges also withdrew from the project. The project, which has been in limbo since then, is now expected to go into construction.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15138', 'image' => '20220606022038_1654407288.seti.jpg', 'article_date' => '2022-06-05 18:34:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15395', 'article_category_id' => '1', 'title' => '140 MW Electricity from Kaligandaki Exported to India', 'sub_title' => '', 'summary' => 'June 5: Nepal Electricity Authority (NEA) has made arrangements to export 140 MW of electricity generated from the 144 MW Kaligandaki A Power House owned by the state-owned utility to India since Saturday night.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 5: Nepal Electricity Authority (NEA) has made arrangements to export 140 MW of electricity generated from the 144 MW Kaligandaki A Power House owned by the state-owned utility to India since Saturday night.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA has been exporting 37.7 MW of electricity daily to the Indian Energy Exchange (IEX) since Thursday from the electricity generated by Trishuli and Devighat hydropower plants. NEA informed that arrangements have been made to export 140 MW of electricity generated by Kaligandaki to India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA exported the surplus energy to India after the power house started operating in full capacity due to increased flow of water in the river with the onset of rainy season. NEA’s Executive Director Kul Man Ghising said that the average selling price of electricity exported now is NRs 11.2 per unit (IRs 7). </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The maximum rate is NRs 19 (IRs 12) per unit, minimum NRs 2.30 (IRs 1.49) and average is NRs 11.2 (IRs 7),” said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In IEX, 24 hours are divided into 96 parts of 15/15 minutes and electricity is traded at competitive rates fixed by the market. This causes price variation in each block.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the NEA, the maximum and minimum prices of electricity exported since Thursday is IRs 12 (NRs 19.2) per unit and IRs 2.49 (NRs 3.9) per unit, respectively. The average price of that day is IRs 6.72 (NRs 10.76) per unit. Nepal is allowed to sell up to 364 MW of electricity at competitive rates in the Indian Energy Exchange Market.</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' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15137', 'image' => '20220605061316_elec.jpg', 'article_date' => '2022-06-05 18:12:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15394', 'article_category_id' => '1', 'title' => 'Lawmakers Draw Government's Attention Towards Rising Inflation ', 'sub_title' => '', 'summary' => 'June 5: Lawmakers have urged the government to immediately find out the reasons for the steep rise in market prices and stem out the problem. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Lawmakers have urged the government to immediately find out the reasons for the steep rise in market prices and stem out the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the discussions on a proposal of urgent public importance related to the hike in the price of petroleum products during a session of the House of Representatives on Friday, the Members of Parliament (MPs) said that inflation has broken the back of the common man and has affected the daily life of the public. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Krishna Bhakta Pokharel said the general people were finding it hard to make ends meet due to the price hike. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">MP Pushpa Bhusal stressed on lessening the imports and increasing export for building a robust economy while Dila Sangraula drew the attention of the government to address the problem of rising market prices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former minister and MP Lal Babu Pandit accused the government of not carrying out market monitoring in an effective manner due to which the consumers are always at the receiving end. Narayan Prasad Khatiwada called on the government to bring effective plans for checking inflation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another MP Sher Bahadur Tamang stressed on the need of taking drastic measures to bring down the price of essential commodities including cooking oil for providing relief to the consumers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Samina Hussein demanded finding out the root cause of price hike to bring an effective plan for addressing it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CPN (UML) whip Bishal Bhattarai had presented the proposal of urgent public importance drawing the government's attention towards the steep rise in inflation as well as the market prices of essential commodities. He accused the government of failing to take any measures to discourage inflation and increasing the prices of petroleum products such as cooking gas, diesel, petrol and kerosene against provisions of automated price adjustment of fuels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the proposal claimed, the multi-dimensional impact of the rise of prices of petroleum products had not been analysed and the need for discussions with opposition and experts from relevant fields was ignored to assess ways for price adjustment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the Nepal’s constitution has guaranteed the citizens’ right to live with dignity, the price rise has made the livelihood of people with minimum and meagre income difficult,” the main opposition party said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"So it is imperative to come up with a clear draft promptly for reduction of the prices of petroleum products and thus to ensure the primary and most significant responsibility of the state which is to make the basic needs of the people addressed," the proposal reads. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The proposal was seconded by lawmakers Yagya Raj Sunuwar, Ganesh Kumar Pahadi and Rajendra Lingden. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15136', 'image' => '20220605121907_Parliament.jpg', 'article_date' => '2022-06-05 12:18:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15393', 'article_category_id' => '1', 'title' => 'Nepal Chamber Expo-2022 in mid-June ', 'sub_title' => '', 'summary' => 'June 5: Nepal Chamber of Commerce (NCC) is all set to organize the 'Nepal Chamber Expo-2022' at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from June 16 to 20. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Nepal Chamber of Commerce (NCC) is all set to organize the 'Nepal Chamber Expo-2022' at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from June 16 to 20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The expo is being held in collaboration with the Ministry of Commerce and the Trade and Export Promotion Center. </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 fifth edition of the expo will focus on business interaction, sharing information on import and export, and marketing of Nepali products.</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 NCC said that the expo is being organized to promote export and attract foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the NCC, priority will be given to increase public awareness about consumer interest in using quality goods while encouraging all the business community to promote exportable goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This is the fifth edition of the expo and Bangladesh is the 'partner country' of the fair. Accordingly, Bangladeshi industrialists and businessmen will participate in the fair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the organizers, there will be 150 stalls from home and abroad in the five-day fair. Goods produced in Nepal, India, Pakistan, Bangladesh and other countries will be displayed in the fair. </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15135', 'image' => '20220605120907_fff.jpg', 'article_date' => '2022-06-05 12:08:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15392', 'article_category_id' => '1', 'title' => 'Finance Minister Defends Budget', 'sub_title' => '', 'summary' => 'June 5: Finance Minister Janardan Sharma has defended the budget announced for the upcoming fiscal year (FY 2022/23) after around a dozen programmes included in the budget courted controversy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Finance Minister Janardan Sharma has defended the budget announced for the upcoming fiscal year (FY 2022/23) after around a dozen programmes included in the budget courted controversy.</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"">Members of Parliament have raised questions over the provision related to old-age allowance as well as hike in tax for import of electric vehicles and lowering of tax on sanitary pads among others.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government has been criticized for lowering the age bar for receiving old-age allowance from 70 years to 68 years at a time when it is struggling to manage resources for the budget. Finance Minister Sharma defended the move arguing that the average life expectancy of people from the backward communities is lower than that of the general population. According to him, the data collected for the 15<sup>th</sup> periodic plan of the government showed that the average life expectancy of Sudur Paschim and Karnali provinces is 67/68 years. Therefore, the government decided to grant old-age allowance to elderly citizens of 68 years and above. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma claimed that the government has not increased tax for importing electric vehicles. According to the minister, the government has not increased tax on 13 different models of electric vehicles of less than 100 kilowatt capacity. The import duty on electric vehicles of above 100 kiliwatts has been increased marginally, said Minister 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"">“An electric vehicles that costs Rs 6 million at present will cost Rs 6.8 million. We increased the tax marginally after it was found that the country has to spend more foreign currency for importing electric vehicles than the vehicles driven by fossil fuel,” said 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"">He argued that only well-off people purchase electric vehicles of more than 100 kilowatt capacity and an additional tax of Rs 800,000 to Rs 1 million will not be much of a burden to the affluent class of people. “The general public will not have to bear the brunt,” said 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"">Likewise, Minister Sharma said that the government decided to waive customs duty on sanitary pads upon the pressing demand from women.</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"">“Last year, women had protested demanding rebate on pink tax. So we waived the tax to fulfill the demand,” said 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"">He further said that the government had given concession on imports of raw materials in order to promote domestic industries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the budget for the next fiscal is only 9.86 per cent bigger in size compared to the budget of the current fiscal, he said it should not be labeled as ambitious. He argued that the budget has been formulated keeping in mind the main goal of the constitution and federalism. </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 finance minister said the budget included programmes as incentives to the agriculture sector, utilization of the uncultivated land and attracting the youths towards agriculture. In this connection, he mentioned about the contribution-based farmers welfare fund for drawing the farmers to agriculture and retaining them and the budget's emphasis on domestic production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget also incorporated topics as development of production-based industries and export promotion, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stressing that the nation's economy is on the road to recovery and that all sectors except tourism have come to their previous state, he said the revenue collection too was satisfactory. The finance minister also expressed his belief that the economic growth rate in the upcoming fiscal year would be eight per cent, mainly due to the investment made for promoting agriculture production and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He stated that the foreign assistance in the current fiscal year is encouraging and the basis for bringing in foreign investment next fiscal year has been prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister gave assurances that farmers will not be facing fertilizer shortage as budget would be managed as per the requirement. He said that adequate budget has been allocated for fertilizer and seed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He pledged that mega projects including Nijgadh International Airport would be started from this year. (With inputs from RSS)</span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15134', 'image' => '20220605115035_ROS_KTM-4187.jpg', 'article_date' => '2022-06-05 11:49:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15391', 'article_category_id' => '1', 'title' => 'Government to Form Committee to Systematise Supplies of Petroleum Products ', 'sub_title' => '', 'summary' => 'June 5: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that a high-level committee would be formed to suggest ways for better managing the demand, supply and distribution chain of petroleum products and for handling economic impacts due to adjustment of prices 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 5: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that a high-level committee would be formed to suggest ways for better managing the demand, supply and distribution chain of petroleum products and for handling economic impacts due to adjustment of prices of petroleum products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Responding to the issues raised during the deliberations on a proposal of urgent public importance relating to the reduction of prices of petroleum products in a meeting of the House of Representatives on June 3, the minister said it was decided to form the committee under the convenorship of National Planning Commission vice chair. The committee will advise the government on matters related to restructuring of Nepal Oil Corporation, use of green energy and involvement of private sector in the distribution of petroleum products and so on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that it was a compulsion for the government to hike the prices of petroleum products following its soaring prices in the international market due to the ongoing Russia-Ukraine war. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the minister, the price of petrol was reduced by Rs 10 per litre despite a loss of Rs 31 per litre as per the price list obtained by the NOC from its supplier on June 1.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The government is responsible for providing a relief to the consumers,” he said adding that the pricelist of petroleum products was adjusted twice a month not time and again as mentioned in the proposal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing the house session about the government's plan to launch the use of electric stove as a campaign, the minister assured of the effective implementation of the campaign. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15133', 'image' => '20220605110514_20220603081851_845791-fuel-istock-070819.jpg', 'article_date' => '2022-06-05 08:24:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15390', 'article_category_id' => '1', 'title' => 'Govt Clear on Building Nijgadh Int'l Airport: Finance Minister', 'sub_title' => '', 'summary' => 'June 5: Finance Minister Janardan Sharma on Saturday said the government was clear on constructing the Nijgadh International Airport in Bara. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Finance Minister Janardan Sharma on Saturday said the government was clear on constructing the Nijgadh International Airport in Bara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Construction of the project has come to a halt following a verdict of the Supreme Court. The apex court has ordered the government not to continue with the project. However, the finance minister insists that the project will move ahead.</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"">"Nijgadh airport should and will be constructed. This is my commitment. The incumbent government has accorded high priority to the project," he said while addressing the 46th annual general meeting of the Birgunj Chamber of Commerce and Industry in Birgunj. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project is needed not only as an alternative to the Tribhuvan International Airport, but for the entire economic development of the Madhes and the whole country, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There is an urgent need to construct the project and the Kathmandu-Tarai fast-track the Madhes Province with Kathmandu," he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On a different note, the minister said that the process of resuming operation of the <span style="font-family:"Arial Unicode MS","sans-serif"">Birgunj Sugar Industry has been initiated.</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 budget has programmes to resume operation of the industry. Such programmes have been made on the basis of a study carried out for six to seven months, added the minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that the voices of industrialists and entrepreneurs of Birgunj have been addressed through the government's policies and programmes for the next fiscal year (FY 2022/23). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, stating that Birgunj is a lifeline for trade, Finance Secretary Madhu Kumar Marasini said, "There have been efforts for self-reliance and industrializing industry and trade through the budget." -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15132', 'image' => '20220605082424_Environment (4).jpg', 'article_date' => '2022-06-05 08:23:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15389', 'article_category_id' => '1', 'title' => 'Sugar Industrialists Increase Price of Sugar Arbitrarily ', 'sub_title' => '', 'summary' => 'June 3: Nepal’s sugar mills have increased the prices of sugar arbitrarily after India announced a ban on sugar exports. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">June 3: Nepal’s sugar mills have increased the prices of sugar arbitrarily after India announced a ban on sugar exports. A year ago, the factory price of sugar was Rs 85 per kg including value added tax (VAT). Today, the factory price has been raised to Rs 90 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Birendra Kumar Sah, the marketing manager of Eastern Sugar Mill, said that currently they are selling sugar at Rs 90 per kg including VAT. Sah further added that a year ago the factory price of sugar was Rs 85 per kg but depending on the market conditions, the prices may fluctuate. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had banned Letter of Credit (LC) for sugar imports after the emergence of domestic sugar industries. India, on the other hand, has decided to ban sugar exports to Nepal for two months for food security reasons. Sugar importers have accused the sugar mills of increasing the price of sugar by Rs 5 per kg after India imposed such ban.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">They accused the government of giving undue favour to the sugar mills. They further claimed that the government had fixed the price of sugarcane but did not fix the price of sugar. This has given opportunity to the sugar mills to form a cartel depending on the market conditions. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Navratan Luniya, a sugar importer who has been working in the sugar industry for two decades, warned that the price of sugar would go up to Rs 100 per kg after July as the government did not allow him to open an LC to import sugar. Nepal's production is enough to sustaine the local demand for only five months and the rest has to be imported, he further added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Additionally, Luniya claimed that the government had stopped opening LC for importing sugar, but there is still a large quantity of sugar being smuggled into Nepal. In India, sugar is available for Rs 56 per kg. The retail price of sugar in Nepal is Rs 90. As the margin of profit per kg of sugar is Rs 34 per kg, a large quantity of sugar is entering Nepal illegally through the open border, said Luniya. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another businessman, Jeevan Rijal, said that the government has been unjust to the consumers by allowing the industrialists to do whatever they want. "By opening an LC and bringing sugar, consumers would get sugar at around Rs 10 less than what the sugar mills are currently offering." At present, the industrialists have set their own prices, added Rijal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The annual consumption of sugar in Nepal is 250,000 tons. Domestic industries produce 100,000 tons. The remaining 150,000 tonnes of sugar is supplied through imports. The production of Nepal's industries lasts about 5 months. Rijal said that they have to meet the demand for the remaining seven months through imports.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15131', 'image' => '20220603040024_sugar.jpg', 'article_date' => '2022-06-03 15:59:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15388', 'article_category_id' => '1', 'title' => 'Stakeholders Stress on Effective Implementation of Budget', 'sub_title' => '', 'summary' => 'June 3: Stakeholders have emphasized on the effective implementation of the budget presented in parliament for the Fiscal Year 2022/23.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: Stakeholders have emphasized on the effective implementation of the budget presented in parliament for the Fiscal Year 2022/23. Speaking at an interaction organized jointly by the Nepal Economic Association, the Confederation of Banks and Financial Institutions Nepal (CBFIN) and the Ministry of Finance in Kathmandu on Thursday, the stakeholders stressed that implementation of budget is essential for building a self-reliant economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Senior economist and President of Nepal Economic Association Prof. Dr. Bishwambher Pyakuryal presented a paper on budget at the interaction. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Even if the budget looks positive overall, there will be difficulties in achieving the revenue target set by the government, which might further increase inflation and public debt,” said Pyakurel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist Dr Poshraj Pandey said that the budget is promising only by its looks. Senior economist Prof Dr Govindra Nepal said that the budget is inclusive and transformative. In addition, he pointed out the need for in-depth study for the implementation of various programmes and projects.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">CBFIN chairman Pawan Kumar Golyan said the budget is focused on agriculture, production, employment, import substitution and building a self-reliant economy. However, he said that no concrete plan is formulated yet to solve the problem of liquidity crisis. He said that some of the tax exemptions have raised suspicions that they are promoting imports rather than exports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Secretary Madhu Kumar Marasini said that despite the pressure on the economy, the budget has been kept within the limits. He remarked, “Despite the budget being a political-economic document, it also carries some goals. But in our country, which is rich in natural resources and has immense potential, the implementation of the issues directed by the budget will help in economic prosperity.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Senior Advisor to the Ministry of Finance Dr Surendra Upreti said that the budget came up with the expectations and needs of the general public and all stakeholders. He said, “As the budget empowers the state and local bodies with a large amount of financial transfers, it will be implemented effectively."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Finance Minister Janardan Sharma said that the budget covers the desires and demands of all. “This budget is yours as it has been formulated on the basis of suggestions, needs, expectations and recommendations received through discussions and interactions with all stakeholders. I have only presented it as a representative. Now let's all take ownership and move towards implementation with commitment.” He urged all parties to support the country's goal of building a self-reliant and socialism-oriented economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15130', 'image' => '20220603032519_budget new.jpg', 'article_date' => '2022-06-03 15:24:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15387', 'article_category_id' => '1', 'title' => 'Ruling Parties Unhappy with Budget', 'sub_title' => '', 'summary' => 'June 3: Leaders of the ruling parties have expressed their dissatisfaction over the increase in the size of the budget for the upcoming fiscal year 2022/23 unveiled by the government and the programmes included in it.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: Leaders of the ruling parties have expressed their dissatisfaction over the increase in the size of the budget for the upcoming fiscal year 2022/23 unveiled by the government and the programmes included in it. The government presented the budget for the upcoming fiscal year by increasing the size by one and a half billion rupees as compared to the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In a meeting of the federal parliament held on Thursday, lawmaker of the ruling Nepali Congress Gagan Thapa asked the finance minister the reason for increasing the size of the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thapa said that although the principles adopted by the government and its priorities included in budget were reasonable, he raised questions regarding the government’s ability to spend and resource management for the budget. He stated that the increase in the size of the budget raised questions in its implementation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Last year's budget is yet to be spent. What is the basis for spending the increased budget?” said Thapa. The government has allocated capital expenditure of Rs. 380.38 billion for the upcoming fiscal year. Out of Rs 378 billion allocated in the current fiscal year, only 33 percent has been spent so far. Thapa also demanded an answer from the Finance Minister over resource management. Thapa questioned the basis of foreign grants.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“This year, Rs 24 billion out of Rs 63 billion was received. What is the basis for receiving Rs 55 in the upcoming fiscal year? What is the basis of transparency in budget implementation?” he questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thapa, who is also a former health minister, criticized the government for not understanding the works related to insurance and said that it has plans to hand over the insurance sector to the companies. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Participating in the discussion on the budget, an MP from the main opposition CPN (UML) and former foreign minister Pradip Gyawali also questioned the budget brought by the government. Gyawali suggested the government and the leaders of the ruling parties not to pursue big plans to meet political ends. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“You are saying that you will increase foreign investment, but your actions are constantly discouraging foreign investors. MCC was the centre of conflict until recently, but you still passed the MCC, and I thank you for that,” said Gyawali. According to him, those who come to invest in Nepal aim to make profit. So, the investment environment should not be disturbed by making the foreign investment policy unstable.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15129', 'image' => '20220603020242_RS_KTM-20220524_163359.jpg', 'article_date' => '2022-06-03 14:01:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15386', 'article_category_id' => '1', 'title' => 'Increasing Electricity Consumption in Top Priority of Government', 'sub_title' => '', 'summary' => 'June 3: The government has announced various energy-related programmes prioritizing electricity consumption in the upcoming fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: The government has announced various energy-related programmes prioritizing electricity consumption in the upcoming fiscal year. Despite the increase in power generation, the government could not come up with a specific plan to increase energy consumption. However, the government has announced various programmes to increase electricity consumption through the budget for the upcoming fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has allocated budget for various programmes to increase power generation, develop electricity-related infrastructure, and expand the scope of electricity trade. The government has adopted a policy to increase electricity consumption in industries, households, transportation, and the public sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government also plans to increase the use of electric vehicles. The budget mentions that the transport service of big cities will be gradually converted into electronic system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget addressed the installation of charging stations in 50 places through the country. Charging stations will also be set up at petrol pumps. It is mentioned in the budget that the private sector will be encouraged to do so.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget also mentions that the kitchens of domestic households and public organisations will be converted into electric kitchen. For this, a campaign called 'Leave LP Gas: Connect Electricity' will be launched.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, it is mentioned in the budget that the subsidy being given for LP gas will be gradually reduced, and the subsidy will be given for the use of electricity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has announced the use of electric stoves in place of LP gas cylinders from Singha Durbar premises within this summer. The government has announced plans to make all public offices and residences in the metropolis and sub-metropolis LP gas-free within the next three months.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government plans to reduce the use of LP gas and petroleum products in the Kathmandu Valley by strengthening the power distribution infrastructure within three years. In addition, it is mentioned in the budget that public bodies will be required to purchase electric vehicles.The government has brought a program to gradually replace the traditional brick kilns with electric brick kilns.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, an arrangement has been made to give 15 per cent discount to the industries consuming electricity worth Rs 100 million per month. It is mentioned in the budget that electricity will be provided for irrigation facility at subsidized rate to make the country self-reliant in agriculture.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget aims to increase per capita electricity consumption to 400 kWh annually by increasing energy consumption in domestic, industrial, transport, agriculture and irrigation sectors next year. At present, the per capita, electricity consumption is 325 kWh. The government has announced plans to provide access to electricity to all citizens in the next two years.</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></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15128', 'image' => '20220603115109_elec.jpg', 'article_date' => '2022-06-03 11:50:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15385', 'article_category_id' => '1', 'title' => '190K Tourists Visited Nepal in First Five Months of 2022 ', 'sub_title' => '', 'summary' => 'June 3: A total of 190,739 tourists visited Nepal in the first five months of 2022, Nepal Tourism Board (NTB) said citing the data of the Department of Immigration. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 3: A total of 190,739 tourists visited Nepal in the first five months of 2022, Nepal Tourism Board (NTB) said citing the data of the Department of Immigration. </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 board, the number of tourists visiting Nepal during last month (May) was 53,608 while the number of visitors in the previous month (April) was 58,384.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director of Nepal Tourism Board Maniraj Lamichhane said that the tourism industry of the country has recovered by almost 75 per cent compared to the period of COVID-19 outbreak. Tourism industry in the country witnessed a severe blow due to the impacts of the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director Lamichhane, the country has witnessed a positive growth in arrival of tourists from Bangladesh and Europe that led to the recovery of tourism industry. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15127', 'image' => '20220603082629_20220530105125_Tourist.jpg', 'article_date' => '2022-06-03 08:24:39', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15399', 'article_category_id' => '1', 'title' => 'Food Lab set up in Raxaul', 'sub_title' => '', 'summary' => 'June 6: India has set up National Food Laboratory in the bordering Indian city of Raxaul.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 6: India has set up National Food Laboratory in the bordering Indian city of Raxaul.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Indian Minister for Health and Family Welfare, Dr Mansukh Mandaviya inaugurated the laboratory on Sunday. Nepal's Minister for Agriculture and Livestock Development, Mahendra Raya Yadav was also present during the inauguration of the food laboratory.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The laboratory has been set up by the Food Safety and Standards Authority of India (FSSAI). With the establishment of the laboratory, it will be easier for India to test the quality of various goods exported from Nepal. Nepali exporters had previously been demanding the establishment of such laboratory in Raxaul.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Exporter Suresh Rungata of Birgunj said that it will now be easier to test refined oil, semi-refined oil, food grains, leather and other goods exported from Nepal to India. Earlier, there was a compulsion to send the samples of such items to laboratories in Kolkata or Delhi for testing.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to FSSAI, the laboratory is equipped with high technology and infrastructure. The laboratory set up at Raxaul will save time on sample testing for exports of Nepal's food and agricultural products. Establishment of this lab is expected to boost bilateral trade between Nepal and India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to FSSAI, the structure was set up to improve connectivity, trade and border infrastructure with Nepal in line with the ‘Neighbor First’ policy.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15141', 'image' => '20220606021954_1654490533.रक्सौलमा खाद्य प्रयोगशाला.jpg', 'article_date' => '2022-06-06 14:18:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15398', 'article_category_id' => '1', 'title' => 'Nepal Compelled to Import Electricity even though it has Started Exporting Electricity to India', 'sub_title' => '', 'summary' => 'June 6: Nepal Electricity Authority (NEA) has started exporting electricity to India as domestic production has started to rise. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 6: Nepal Electricity Authority (NEA) has started exporting electricity to India as domestic production has started to rise. Although the NEA has been exporting surplus electricity to India, it is still compelled to import electricity from the neighbouring country.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA is still importing at least 60 MW of electricity from India daily. NEA has been importing electricity from the Tanakpur transmission line especially targeting the far western region. The number of power projects in the far west is low. However, the area has not been able to generate electricity as per the demand. NEA has not been able to supply electricity generated in other areas to the far west due to insufficient transmission lines. NEA spokesperson Suresh Bhattarai said that there is still an obligation to import electricity due to such technical problems.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Even if we start exporting electricity to India, we are still forced to import it due to technical problems," he said. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The far western region has not been able to generate electricity as per the demand,” he said, “So we are importing 50/60 MW electricity from Tanakpur even under normal conditions.” </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, this situation does not last long. Due to the increase in domestic production, the import of electricity will soon be stopped, he added.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA started exporting electricity to India from last Thursday with the increase in domestic production. NEA has been exporting 39 MW of electricity from Trishuli and Devighat hydropower projects. The Kaligandaki Hydropower Project, with a capacity of 144 MW, has been exporting an additional 140 MW of electricity since Saturday. NEA is exporting electricity to India at a maximum of Rs 19 (IRs 12) per unit.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Most of the hydropower projects in Nepal are based on river flow system. Therefore, projects run at full capacity when the river overflows during the rainy season. When the production here is high, it can be exported to India. However, when the water level in the river decreases in winter, the production decreases. At that time, NEA has been meeting the demand by importing electricity from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In India, with more coal-based projects, electricity can be generated as needed at any time.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, due to recent tensions between Russia and Ukraine, power generation in India is low due to a shortage of coal. As a result, the buying and selling of electricity in India is still costly. In such situation, NEA could not get enough electricity from the Indian market for half a month. At that time, NEA had even carried out load shedding here. Now there is no need for load shedding in the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15140', 'image' => '20220606013706_NEA.jpg', 'article_date' => '2022-06-06 13:36:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15397', 'article_category_id' => '1', 'title' => 'The Labor Minister Directs Concerned Bodies to Address the Complaints of Laborers. ', 'sub_title' => '', 'summary' => 'June 6: Minister for Labor, Employment and Social Security Krishna Kumar Shrestha has directed the concerned officials and counselors in labour destination countries to address the grievances of Nepali migrant workers.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">June 6: Minister for Labor, Employment and Social Security Krishna Kumar Shrestha has directed the concerned officials and counselors in labour destination countries to address the grievances of Nepali migrant workers. Minister Shrestha gave such instructions during an orientation held for the newly appointed counselors for Saudi Arabia, the United Arab Emirates, Bahrain and Qatar. He said that the grievances of Nepali workers in those countries were not addressed although they visited the embassy in the respective country to file complaints.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In addition to this, Minister Shrestha also said that the counselors should ensure the protection of the rights of the workers, rescue them in case of problems and help in resolving disputes between the employers and the workers. Moreover, Secretary at the Ministry Ek Narayan Aryal stressed on the need for counselors and labor associates to be aware of foreign laws and the issue of migrant workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the orientation, experts provided training on foreign employment management systems, labor immigration, bilateral labor agreement, labor diplomacy, and laws related to foreign employment. There is a legal provision to have a labor companion to assist the workers abroad. The ministry has appointed Devendra Karki as counselor in Riyadh, Saudi Arabia, and Deen Bandhu Subedi in the UAE, as well as Jamuna Kafle in Bahrain and Krishna Poudel in Qatar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, Minister Shrestha said that the social security fund needs to be restructured to increase the attraction of employers and contributors. Speaking at a discussion programme organized at the Ministry of Labor on the effective operation and management of the Social Security Fund, Minister Shrestha stressed on the need to increase the attraction of employers and workers towards the fund. He also said that the plan of the fund should be reviewed to increase the attraction of employers and contributors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Secretary of the Ministry Aryal said that the fund should give confidence to the employers and contributors that social security would be guaranteed. This, according to him, can be done by bringing attractive facilities and schemes. He said that new arrangements should be made for proper mobilization and investment of the money in the fund and management of the return from it. Social security expert Krishna Acharya said that the social security fund should bring attractive facilities and schemes to the employers and workers of small and medium enterprises. He suggested that the structural reforms of the fund and the mobilization and investment arrangements of the funds should also be reviewed. Stakeholders say that the contribution-based social security programme should be promoted in a way that benefits both the workers and the employers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-06', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15139', 'image' => '20220606122050_Nepal-workers-in-Qatar-Gulf.jpg', 'article_date' => '2022-06-06 12:19:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15396', 'article_category_id' => '1', 'title' => 'Study Committee Recommends West Seti Project to be Built on PPP Model', 'sub_title' => '', 'summary' => 'June 5: A study committee formed by Investment Board Nepal (IBN) has recommended constructing the West Seti Reservoir-based Hydro Power Project in Public-Private Partnership (PPP) model.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 5: A study committee formed by Investment Board Nepal (IBN) has recommended constructing the West Seti Reservoir-based Hydro Power Project in Public-Private Partnership (PPP) model.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">IBN had formed a committee to study the best modality of the project. The committee has recommended the board to build the project in the PPP model. Prime Minister Sher Bahadur Deuba, who is also the chairman of the board, had hinted at a public event last month that an Indian company would be allowed to build West Seti Hydro Power Project.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, the study committee chaired by National Planning Commission Vice-Chairman Biswanath Poudel submitted a report to the board with the conclusion that it would be better to build the project in the PPP model. It will be implemented after being passed by the board meeting of IBN.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">IBN spokesperson Amrit Lamsal said that the study committee has submitted the report with the conclusion that it would be better to build the West Seti project in the PPP model. He said that the report will be presented at the upcoming board meeting.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Studies have shown that it would be better to build the project in the PPP model,” he said, adding that if investors and promoters are not attracted, other models can also be considered. “Let's see what the board decides, then the construction work will move forward.”'</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The selected promoter company will also be able to review the capacity of the project. Earlier, a study conducted in 1997 had shown the capacity of the project to be 750 MW.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">It has been 25 years since the study was conducted. It is estimated that the previously determined production capacity may change during this period due to natural changes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Therefore, the company selected to build the project could conduct further study and review the capacity, said Lamsal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A new study by the board has shown that making the project a semi-reservoir will generate 615 MW of electricity. Spokesperson Lamsal said that the investment would be Rs 150 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This project was first discussed in 1980. At that time, a French company had shown the possibility of constructing a 37 MW capacity project in Baitadi. Ten years later, the government made it a national pride project. In the meantime, various studies were conducted on the project. In the end, the capacity was determined to be 750 MW.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The project was initially undertaken by an Australian company in 1994, which said after almost two decades that it could not proceed ahead with the project.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Then in 2068 BS, it was given to the Chinese company Three Gorges. Later, Three Gorges also withdrew from the project. The project, which has been in limbo since then, is now expected to go into construction.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-06', 'keywords' => '', 'description' => '', 'sortorder' => '15138', 'image' => '20220606022038_1654407288.seti.jpg', 'article_date' => '2022-06-05 18:34:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15395', 'article_category_id' => '1', 'title' => '140 MW Electricity from Kaligandaki Exported to India', 'sub_title' => '', 'summary' => 'June 5: Nepal Electricity Authority (NEA) has made arrangements to export 140 MW of electricity generated from the 144 MW Kaligandaki A Power House owned by the state-owned utility to India since Saturday night.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 5: Nepal Electricity Authority (NEA) has made arrangements to export 140 MW of electricity generated from the 144 MW Kaligandaki A Power House owned by the state-owned utility to India since Saturday night.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NEA has been exporting 37.7 MW of electricity daily to the Indian Energy Exchange (IEX) since Thursday from the electricity generated by Trishuli and Devighat hydropower plants. NEA informed that arrangements have been made to export 140 MW of electricity generated by Kaligandaki to India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NEA exported the surplus energy to India after the power house started operating in full capacity due to increased flow of water in the river with the onset of rainy season. NEA’s Executive Director Kul Man Ghising said that the average selling price of electricity exported now is NRs 11.2 per unit (IRs 7). </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The maximum rate is NRs 19 (IRs 12) per unit, minimum NRs 2.30 (IRs 1.49) and average is NRs 11.2 (IRs 7),” said Ghising.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In IEX, 24 hours are divided into 96 parts of 15/15 minutes and electricity is traded at competitive rates fixed by the market. This causes price variation in each block.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the NEA, the maximum and minimum prices of electricity exported since Thursday is IRs 12 (NRs 19.2) per unit and IRs 2.49 (NRs 3.9) per unit, respectively. The average price of that day is IRs 6.72 (NRs 10.76) per unit. Nepal is allowed to sell up to 364 MW of electricity at competitive rates in the Indian Energy Exchange Market.</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' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15137', 'image' => '20220605061316_elec.jpg', 'article_date' => '2022-06-05 18:12:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15394', 'article_category_id' => '1', 'title' => 'Lawmakers Draw Government's Attention Towards Rising Inflation ', 'sub_title' => '', 'summary' => 'June 5: Lawmakers have urged the government to immediately find out the reasons for the steep rise in market prices and stem out the problem. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Lawmakers have urged the government to immediately find out the reasons for the steep rise in market prices and stem out the problem. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the discussions on a proposal of urgent public importance related to the hike in the price of petroleum products during a session of the House of Representatives on Friday, the Members of Parliament (MPs) said that inflation has broken the back of the common man and has affected the daily life of the public. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmaker Krishna Bhakta Pokharel said the general people were finding it hard to make ends meet due to the price hike. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">MP Pushpa Bhusal stressed on lessening the imports and increasing export for building a robust economy while Dila Sangraula drew the attention of the government to address the problem of rising market prices. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former minister and MP Lal Babu Pandit accused the government of not carrying out market monitoring in an effective manner due to which the consumers are always at the receiving end. Narayan Prasad Khatiwada called on the government to bring effective plans for checking inflation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another MP Sher Bahadur Tamang stressed on the need of taking drastic measures to bring down the price of essential commodities including cooking oil for providing relief to the consumers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Samina Hussein demanded finding out the root cause of price hike to bring an effective plan for addressing it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CPN (UML) whip Bishal Bhattarai had presented the proposal of urgent public importance drawing the government's attention towards the steep rise in inflation as well as the market prices of essential commodities. He accused the government of failing to take any measures to discourage inflation and increasing the prices of petroleum products such as cooking gas, diesel, petrol and kerosene against provisions of automated price adjustment of fuels. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the proposal claimed, the multi-dimensional impact of the rise of prices of petroleum products had not been analysed and the need for discussions with opposition and experts from relevant fields was ignored to assess ways for price adjustment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Though the Nepal’s constitution has guaranteed the citizens’ right to live with dignity, the price rise has made the livelihood of people with minimum and meagre income difficult,” the main opposition party said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"So it is imperative to come up with a clear draft promptly for reduction of the prices of petroleum products and thus to ensure the primary and most significant responsibility of the state which is to make the basic needs of the people addressed," the proposal reads. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The proposal was seconded by lawmakers Yagya Raj Sunuwar, Ganesh Kumar Pahadi and Rajendra Lingden. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15136', 'image' => '20220605121907_Parliament.jpg', 'article_date' => '2022-06-05 12:18:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15393', 'article_category_id' => '1', 'title' => 'Nepal Chamber Expo-2022 in mid-June ', 'sub_title' => '', 'summary' => 'June 5: Nepal Chamber of Commerce (NCC) is all set to organize the 'Nepal Chamber Expo-2022' at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from June 16 to 20. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Nepal Chamber of Commerce (NCC) is all set to organize the 'Nepal Chamber Expo-2022' at the Exhibition Hall in Bhrikuti Mandap, Kathmandu from June 16 to 20. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The expo is being held in collaboration with the Ministry of Commerce and the Trade and Export Promotion Center. </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 fifth edition of the expo will focus on business interaction, sharing information on import and export, and marketing of Nepali products.</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 NCC said that the expo is being organized to promote export and attract foreign investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the NCC, priority will be given to increase public awareness about consumer interest in using quality goods while encouraging all the business community to promote exportable goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This is the fifth edition of the expo and Bangladesh is the 'partner country' of the fair. Accordingly, Bangladeshi industrialists and businessmen will participate in the fair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the organizers, there will be 150 stalls from home and abroad in the five-day fair. Goods produced in Nepal, India, Pakistan, Bangladesh and other countries will be displayed in the fair. </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15135', 'image' => '20220605120907_fff.jpg', 'article_date' => '2022-06-05 12:08:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15392', 'article_category_id' => '1', 'title' => 'Finance Minister Defends Budget', 'sub_title' => '', 'summary' => 'June 5: Finance Minister Janardan Sharma has defended the budget announced for the upcoming fiscal year (FY 2022/23) after around a dozen programmes included in the budget courted controversy.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Finance Minister Janardan Sharma has defended the budget announced for the upcoming fiscal year (FY 2022/23) after around a dozen programmes included in the budget courted controversy.</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"">Members of Parliament have raised questions over the provision related to old-age allowance as well as hike in tax for import of electric vehicles and lowering of tax on sanitary pads among others.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government has been criticized for lowering the age bar for receiving old-age allowance from 70 years to 68 years at a time when it is struggling to manage resources for the budget. Finance Minister Sharma defended the move arguing that the average life expectancy of people from the backward communities is lower than that of the general population. According to him, the data collected for the 15<sup>th</sup> periodic plan of the government showed that the average life expectancy of Sudur Paschim and Karnali provinces is 67/68 years. Therefore, the government decided to grant old-age allowance to elderly citizens of 68 years and above. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma claimed that the government has not increased tax for importing electric vehicles. According to the minister, the government has not increased tax on 13 different models of electric vehicles of less than 100 kilowatt capacity. The import duty on electric vehicles of above 100 kiliwatts has been increased marginally, said Minister 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"">“An electric vehicles that costs Rs 6 million at present will cost Rs 6.8 million. We increased the tax marginally after it was found that the country has to spend more foreign currency for importing electric vehicles than the vehicles driven by fossil fuel,” said 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"">He argued that only well-off people purchase electric vehicles of more than 100 kilowatt capacity and an additional tax of Rs 800,000 to Rs 1 million will not be much of a burden to the affluent class of people. “The general public will not have to bear the brunt,” said 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"">Likewise, Minister Sharma said that the government decided to waive customs duty on sanitary pads upon the pressing demand from women.</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"">“Last year, women had protested demanding rebate on pink tax. So we waived the tax to fulfill the demand,” said 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"">He further said that the government had given concession on imports of raw materials in order to promote domestic industries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the budget for the next fiscal is only 9.86 per cent bigger in size compared to the budget of the current fiscal, he said it should not be labeled as ambitious. He argued that the budget has been formulated keeping in mind the main goal of the constitution and federalism. </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 finance minister said the budget included programmes as incentives to the agriculture sector, utilization of the uncultivated land and attracting the youths towards agriculture. In this connection, he mentioned about the contribution-based farmers welfare fund for drawing the farmers to agriculture and retaining them and the budget's emphasis on domestic production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget also incorporated topics as development of production-based industries and export promotion, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stressing that the nation's economy is on the road to recovery and that all sectors except tourism have come to their previous state, he said the revenue collection too was satisfactory. The finance minister also expressed his belief that the economic growth rate in the upcoming fiscal year would be eight per cent, mainly due to the investment made for promoting agriculture production and tourism. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He stated that the foreign assistance in the current fiscal year is encouraging and the basis for bringing in foreign investment next fiscal year has been prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister gave assurances that farmers will not be facing fertilizer shortage as budget would be managed as per the requirement. He said that adequate budget has been allocated for fertilizer and seed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He pledged that mega projects including Nijgadh International Airport would be started from this year. (With inputs from RSS)</span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15134', 'image' => '20220605115035_ROS_KTM-4187.jpg', 'article_date' => '2022-06-05 11:49:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15391', 'article_category_id' => '1', 'title' => 'Government to Form Committee to Systematise Supplies of Petroleum Products ', 'sub_title' => '', 'summary' => 'June 5: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that a high-level committee would be formed to suggest ways for better managing the demand, supply and distribution chain of petroleum products and for handling economic impacts due to adjustment of prices 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 5: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that a high-level committee would be formed to suggest ways for better managing the demand, supply and distribution chain of petroleum products and for handling economic impacts due to adjustment of prices of petroleum products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Responding to the issues raised during the deliberations on a proposal of urgent public importance relating to the reduction of prices of petroleum products in a meeting of the House of Representatives on June 3, the minister said it was decided to form the committee under the convenorship of National Planning Commission vice chair. The committee will advise the government on matters related to restructuring of Nepal Oil Corporation, use of green energy and involvement of private sector in the distribution of petroleum products and so on. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that it was a compulsion for the government to hike the prices of petroleum products following its soaring prices in the international market due to the ongoing Russia-Ukraine war. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the minister, the price of petrol was reduced by Rs 10 per litre despite a loss of Rs 31 per litre as per the price list obtained by the NOC from its supplier on June 1.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The government is responsible for providing a relief to the consumers,” he said adding that the pricelist of petroleum products was adjusted twice a month not time and again as mentioned in the proposal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Informing the house session about the government's plan to launch the use of electric stove as a campaign, the minister assured of the effective implementation of the campaign. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15133', 'image' => '20220605110514_20220603081851_845791-fuel-istock-070819.jpg', 'article_date' => '2022-06-05 08:24:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15390', 'article_category_id' => '1', 'title' => 'Govt Clear on Building Nijgadh Int'l Airport: Finance Minister', 'sub_title' => '', 'summary' => 'June 5: Finance Minister Janardan Sharma on Saturday said the government was clear on constructing the Nijgadh International Airport in Bara. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 5: Finance Minister Janardan Sharma on Saturday said the government was clear on constructing the Nijgadh International Airport in Bara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Construction of the project has come to a halt following a verdict of the Supreme Court. The apex court has ordered the government not to continue with the project. However, the finance minister insists that the project will move ahead.</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"">"Nijgadh airport should and will be constructed. This is my commitment. The incumbent government has accorded high priority to the project," he said while addressing the 46th annual general meeting of the Birgunj Chamber of Commerce and Industry in Birgunj. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project is needed not only as an alternative to the Tribhuvan International Airport, but for the entire economic development of the Madhes and the whole country, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There is an urgent need to construct the project and the Kathmandu-Tarai fast-track the Madhes Province with Kathmandu," he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">On a different note, the minister said that the process of resuming operation of the <span style="font-family:"Arial Unicode MS","sans-serif"">Birgunj Sugar Industry has been initiated.</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 budget has programmes to resume operation of the industry. Such programmes have been made on the basis of a study carried out for six to seven months, added the minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that the voices of industrialists and entrepreneurs of Birgunj have been addressed through the government's policies and programmes for the next fiscal year (FY 2022/23). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, stating that Birgunj is a lifeline for trade, Finance Secretary Madhu Kumar Marasini said, "There have been efforts for self-reliance and industrializing industry and trade through the budget." -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-05', 'modified' => '2022-06-05', 'keywords' => '', 'description' => '', 'sortorder' => '15132', 'image' => '20220605082424_Environment (4).jpg', 'article_date' => '2022-06-05 08:23:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15389', 'article_category_id' => '1', 'title' => 'Sugar Industrialists Increase Price of Sugar Arbitrarily ', 'sub_title' => '', 'summary' => 'June 3: Nepal’s sugar mills have increased the prices of sugar arbitrarily after India announced a ban on sugar exports. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">June 3: Nepal’s sugar mills have increased the prices of sugar arbitrarily after India announced a ban on sugar exports. A year ago, the factory price of sugar was Rs 85 per kg including value added tax (VAT). Today, the factory price has been raised to Rs 90 per kg. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Birendra Kumar Sah, the marketing manager of Eastern Sugar Mill, said that currently they are selling sugar at Rs 90 per kg including VAT. Sah further added that a year ago the factory price of sugar was Rs 85 per kg but depending on the market conditions, the prices may fluctuate. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had banned Letter of Credit (LC) for sugar imports after the emergence of domestic sugar industries. India, on the other hand, has decided to ban sugar exports to Nepal for two months for food security reasons. Sugar importers have accused the sugar mills of increasing the price of sugar by Rs 5 per kg after India imposed such ban.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">They accused the government of giving undue favour to the sugar mills. They further claimed that the government had fixed the price of sugarcane but did not fix the price of sugar. This has given opportunity to the sugar mills to form a cartel depending on the market conditions. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Navratan Luniya, a sugar importer who has been working in the sugar industry for two decades, warned that the price of sugar would go up to Rs 100 per kg after July as the government did not allow him to open an LC to import sugar. Nepal's production is enough to sustaine the local demand for only five months and the rest has to be imported, he further added. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Additionally, Luniya claimed that the government had stopped opening LC for importing sugar, but there is still a large quantity of sugar being smuggled into Nepal. In India, sugar is available for Rs 56 per kg. The retail price of sugar in Nepal is Rs 90. As the margin of profit per kg of sugar is Rs 34 per kg, a large quantity of sugar is entering Nepal illegally through the open border, said Luniya. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another businessman, Jeevan Rijal, said that the government has been unjust to the consumers by allowing the industrialists to do whatever they want. "By opening an LC and bringing sugar, consumers would get sugar at around Rs 10 less than what the sugar mills are currently offering." At present, the industrialists have set their own prices, added Rijal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The annual consumption of sugar in Nepal is 250,000 tons. Domestic industries produce 100,000 tons. The remaining 150,000 tonnes of sugar is supplied through imports. The production of Nepal's industries lasts about 5 months. Rijal said that they have to meet the demand for the remaining seven months through imports.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15131', 'image' => '20220603040024_sugar.jpg', 'article_date' => '2022-06-03 15:59:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15388', 'article_category_id' => '1', 'title' => 'Stakeholders Stress on Effective Implementation of Budget', 'sub_title' => '', 'summary' => 'June 3: Stakeholders have emphasized on the effective implementation of the budget presented in parliament for the Fiscal Year 2022/23.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: Stakeholders have emphasized on the effective implementation of the budget presented in parliament for the Fiscal Year 2022/23. Speaking at an interaction organized jointly by the Nepal Economic Association, the Confederation of Banks and Financial Institutions Nepal (CBFIN) and the Ministry of Finance in Kathmandu on Thursday, the stakeholders stressed that implementation of budget is essential for building a self-reliant economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Senior economist and President of Nepal Economic Association Prof. Dr. Bishwambher Pyakuryal presented a paper on budget at the interaction. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Even if the budget looks positive overall, there will be difficulties in achieving the revenue target set by the government, which might further increase inflation and public debt,” said Pyakurel.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Economist Dr Poshraj Pandey said that the budget is promising only by its looks. Senior economist Prof Dr Govindra Nepal said that the budget is inclusive and transformative. In addition, he pointed out the need for in-depth study for the implementation of various programmes and projects.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">CBFIN chairman Pawan Kumar Golyan said the budget is focused on agriculture, production, employment, import substitution and building a self-reliant economy. However, he said that no concrete plan is formulated yet to solve the problem of liquidity crisis. He said that some of the tax exemptions have raised suspicions that they are promoting imports rather than exports.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Secretary Madhu Kumar Marasini said that despite the pressure on the economy, the budget has been kept within the limits. He remarked, “Despite the budget being a political-economic document, it also carries some goals. But in our country, which is rich in natural resources and has immense potential, the implementation of the issues directed by the budget will help in economic prosperity.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Senior Advisor to the Ministry of Finance Dr Surendra Upreti said that the budget came up with the expectations and needs of the general public and all stakeholders. He said, “As the budget empowers the state and local bodies with a large amount of financial transfers, it will be implemented effectively."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Speaking on the occasion, Finance Minister Janardan Sharma said that the budget covers the desires and demands of all. “This budget is yours as it has been formulated on the basis of suggestions, needs, expectations and recommendations received through discussions and interactions with all stakeholders. I have only presented it as a representative. Now let's all take ownership and move towards implementation with commitment.” He urged all parties to support the country's goal of building a self-reliant and socialism-oriented economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15130', 'image' => '20220603032519_budget new.jpg', 'article_date' => '2022-06-03 15:24:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15387', 'article_category_id' => '1', 'title' => 'Ruling Parties Unhappy with Budget', 'sub_title' => '', 'summary' => 'June 3: Leaders of the ruling parties have expressed their dissatisfaction over the increase in the size of the budget for the upcoming fiscal year 2022/23 unveiled by the government and the programmes included in it.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: Leaders of the ruling parties have expressed their dissatisfaction over the increase in the size of the budget for the upcoming fiscal year 2022/23 unveiled by the government and the programmes included in it. The government presented the budget for the upcoming fiscal year by increasing the size by one and a half billion rupees as compared to the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In a meeting of the federal parliament held on Thursday, lawmaker of the ruling Nepali Congress Gagan Thapa asked the finance minister the reason for increasing the size of the budget. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thapa said that although the principles adopted by the government and its priorities included in budget were reasonable, he raised questions regarding the government’s ability to spend and resource management for the budget. He stated that the increase in the size of the budget raised questions in its implementation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“Last year's budget is yet to be spent. What is the basis for spending the increased budget?” said Thapa. The government has allocated capital expenditure of Rs. 380.38 billion for the upcoming fiscal year. Out of Rs 378 billion allocated in the current fiscal year, only 33 percent has been spent so far. Thapa also demanded an answer from the Finance Minister over resource management. Thapa questioned the basis of foreign grants.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“This year, Rs 24 billion out of Rs 63 billion was received. What is the basis for receiving Rs 55 in the upcoming fiscal year? What is the basis of transparency in budget implementation?” he questioned.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thapa, who is also a former health minister, criticized the government for not understanding the works related to insurance and said that it has plans to hand over the insurance sector to the companies. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Participating in the discussion on the budget, an MP from the main opposition CPN (UML) and former foreign minister Pradip Gyawali also questioned the budget brought by the government. Gyawali suggested the government and the leaders of the ruling parties not to pursue big plans to meet political ends. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“You are saying that you will increase foreign investment, but your actions are constantly discouraging foreign investors. MCC was the centre of conflict until recently, but you still passed the MCC, and I thank you for that,” said Gyawali. According to him, those who come to invest in Nepal aim to make profit. So, the investment environment should not be disturbed by making the foreign investment policy unstable.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15129', 'image' => '20220603020242_RS_KTM-20220524_163359.jpg', 'article_date' => '2022-06-03 14:01:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15386', 'article_category_id' => '1', 'title' => 'Increasing Electricity Consumption in Top Priority of Government', 'sub_title' => '', 'summary' => 'June 3: The government has announced various energy-related programmes prioritizing electricity consumption in the upcoming fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">June 3: The government has announced various energy-related programmes prioritizing electricity consumption in the upcoming fiscal year. Despite the increase in power generation, the government could not come up with a specific plan to increase energy consumption. However, the government has announced various programmes to increase electricity consumption through the budget for the upcoming fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has allocated budget for various programmes to increase power generation, develop electricity-related infrastructure, and expand the scope of electricity trade. The government has adopted a policy to increase electricity consumption in industries, households, transportation, and the public sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government also plans to increase the use of electric vehicles. The budget mentions that the transport service of big cities will be gradually converted into electronic system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget addressed the installation of charging stations in 50 places through the country. Charging stations will also be set up at petrol pumps. It is mentioned in the budget that the private sector will be encouraged to do so.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget also mentions that the kitchens of domestic households and public organisations will be converted into electric kitchen. For this, a campaign called 'Leave LP Gas: Connect Electricity' will be launched.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, it is mentioned in the budget that the subsidy being given for LP gas will be gradually reduced, and the subsidy will be given for the use of electricity.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has announced the use of electric stoves in place of LP gas cylinders from Singha Durbar premises within this summer. The government has announced plans to make all public offices and residences in the metropolis and sub-metropolis LP gas-free within the next three months.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government plans to reduce the use of LP gas and petroleum products in the Kathmandu Valley by strengthening the power distribution infrastructure within three years. In addition, it is mentioned in the budget that public bodies will be required to purchase electric vehicles.The government has brought a program to gradually replace the traditional brick kilns with electric brick kilns.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, an arrangement has been made to give 15 per cent discount to the industries consuming electricity worth Rs 100 million per month. It is mentioned in the budget that electricity will be provided for irrigation facility at subsidized rate to make the country self-reliant in agriculture.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The budget aims to increase per capita electricity consumption to 400 kWh annually by increasing energy consumption in domestic, industrial, transport, agriculture and irrigation sectors next year. At present, the per capita, electricity consumption is 325 kWh. The government has announced plans to provide access to electricity to all citizens in the next two years.</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></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15128', 'image' => '20220603115109_elec.jpg', 'article_date' => '2022-06-03 11:50:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15385', 'article_category_id' => '1', 'title' => '190K Tourists Visited Nepal in First Five Months of 2022 ', 'sub_title' => '', 'summary' => 'June 3: A total of 190,739 tourists visited Nepal in the first five months of 2022, Nepal Tourism Board (NTB) said citing the data of the Department of Immigration. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 3: A total of 190,739 tourists visited Nepal in the first five months of 2022, Nepal Tourism Board (NTB) said citing the data of the Department of Immigration. </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 board, the number of tourists visiting Nepal during last month (May) was 53,608 while the number of visitors in the previous month (April) was 58,384.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director of Nepal Tourism Board Maniraj Lamichhane said that the tourism industry of the country has recovered by almost 75 per cent compared to the period of COVID-19 outbreak. Tourism industry in the country witnessed a severe blow due to the impacts of the pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director Lamichhane, the country has witnessed a positive growth in arrival of tourists from Bangladesh and Europe that led to the recovery of tourism industry. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-06-03', 'modified' => '2022-06-03', 'keywords' => '', 'description' => '', 'sortorder' => '15127', 'image' => '20220603082629_20220530105125_Tourist.jpg', 'article_date' => '2022-06-03 08:24:39', '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
