March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. …
March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. …
March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small…
March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point.…
March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year.…
March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five…
March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in…
March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent…
March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section.…
March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the…
March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. …
March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount.…
March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking…
March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9).…
March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of…
March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department registered the writ petition at the High Court Patan on Friday (March 11) demanding clearance of over Rs 7.436 billion from the Balaju-based company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case was filed against the board of directors of Bottlers' Nepal, its managing director and 17 authorized persons mainly responsible for financial transaction and audit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charge sheet has noted that the company was involved in evading tax by not completing the process on payment of capital gains tax. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14660', 'image' => '20220313012008_tax-evasionn.jpg', 'article_date' => '2022-03-13 13:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14918', 'article_category_id' => '1', 'title' => 'Federation of Nepal Cottage and Small Industries gets New Leadership', 'sub_title' => '', 'summary' => 'March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to this, Singh has already taken upon the roles of senior vice president, founding member, acting president and other responsibilities of the federation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Bahadur Kandel has been selected as the senior vice president of the association by the 25th National General Convention of the federation and the 22nd National Women Entrepreneurs Conference organized in Birgunj.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Purna Bahadur Bhandari from small enterprise, Prakash Rawal from small industries, Chandan Krishna Shrestha from small industries, Mukesh Upadhyay from international relations, Shova Gurung from women’s quota, Mohan Katuwal from commodities, Shanta Baskota Koirala from associates, Satya Narayan Prajapati from cooperatives, Harihar Thapa from agriculture and Rajendra Man Shrestha from tourism have been selected as vice presidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Moreover, the federation informed that Dambar Prasad Regmi has been elected as general secretary, Achyut Pandey as treasurer, and Deepak Bahadur Budha as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the deputy treasurers include Bhesh Raj Pandey (cooperative), Mahendra Bahadur Chitrakar (commodity), Rudra Prasad Neupane (associate), and Gyan Bahadur Khadka alongside 80 new members.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A new executive committee of the women entrepreneur committee of the federation has been elected under the chairmanship of Roshni Upadhyaya. The committee consists of 14 members which includes Rita Awal as senior vice president, Krishna Kumari Pathak as vice president for business, Tara Acharya as vice president for organization, Dr Soni Mahato as general secretary, Meena Tamang as treasurer, and Deepa Shakya as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Newly elected chairperson Singh said that she would work for the rights and interests of small, home-based and small-scale industrialists while upholding the dignity of the federation.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14659', 'image' => '20220313043305_17629812_1215515445183982_5951300167011014903_n.jpg', 'article_date' => '2022-03-13 16:32:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14916', 'article_category_id' => '1', 'title' => 'China Agrees to Increase Trade Volume with Nepal', 'sub_title' => '', 'summary' => 'March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. According to the District Administration Office, Rasuwa, the two sides reached an agreement to increase the supply of Chinese goods during a recent virtual meeting between the border officials of Rasuwa and Jilung Province in Kerung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such initiative was taken by the Chief District Officer of Rasuwa Nawaraj Jaisi, who urged his Chinese counterparts to meet the demand of the Nepalese market as Covid-19 cases have declined significantly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CDO Jaisi reportedly said that the two countries have agreed to allow 14 containers carrying goods into Rasuwagadhi on a daily basis soon. Currently, nine containers of goods are being imported into Nepal every day from this customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali importers and businessmen are said to be happy with the decision to increase the volume of goods from China, the state-owned national news agency RSS reported.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14658', 'image' => '20220313113823_Nepal-china-trade.jpg', 'article_date' => '2022-03-13 11:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14915', 'article_category_id' => '1', 'title' => 'Most of the Macroconomic Indicators Negative: NRB Report', 'sub_title' => '', 'summary' => 'March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. The Current Macroeconomic and Financial Situation Report of the first seven months of FY 2021/22 published by Nepal Rastra Bank (NRB) on Friday shows that majority of the indicators are negative.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s imports in the first seven months of the current fiscal year stands at Rs 1147 billion which is an increase of 42.8 percent compared to the corresponding period of the last fiscal year. Nepal’s imports had increased by 0.1 percent during the corresponding period of last year, according to the NRB report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economists say that the people will ultimately have to bear the consequences as Nepal’s economy is driven by imports. Economist Dr Resham Thapa says that the country’s overall economy is slipping behind.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“All the economic indicators of the last seven months are negative,” said Thapa, adding, “This will directly impact the general public. Inflation is also more than last year. The indicators clearly show that inflation is going to further rise in the near future.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank’s report, Gross foreign exchange reserves decreased 16.2 percent to Rs 1173.02 billion in mid-February 2022 from Rs 1399.03 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s foreign exchange reserves are enough for imports of goods and services for the next six months. However, economists argue that the country’s foreign exchange reserves are not what they seem to be due to the increase in prices of gold, petroleum products and the rate of US dollars. Thapa argues that Nepal has failed to capitalize on the rise in US dollar because its economy is import-oriented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 17.7 percent to Rs 1024.60 billion in mid-February 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 3.9 percent to Rs 148.42 billion in mid-February 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 24.2 percent in mid-February 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Balance of Payments (BOP) remained at a deficit of Rs 247.03 billion in the review period against a surplus of Rs 97.36 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inflow of remittance decreased 4.9 percent to Rs 540.12 billion in the review period against an increase of 10.9 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The year-on-year consumer price inflation stood at 5.97 percent in the seventh month of FY 2021/22 compared to 2.70 percent a year ago. Food and beverage inflation stood at 6.00 percent whereas non-food and service inflation stood at 5.96 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current account remained at a deficit of Rs 413.86 billion in the review period compared to a deficit of Rs 104.39 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts argue that the impact of Russia-Ukraine war that broke on February 24 has already affected Nepal’s market but the central bank’s report does not show the impact of war.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14657', 'image' => '20220311064519_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-11 18:44:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14913', 'article_category_id' => '1', 'title' => 'Concept of Fertiliser Plant Limited to Papers', 'sub_title' => '', 'summary' => 'March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years. With Nepal consuming 750,000 to 800,000 metric tons of fertiliser every year, it is said that the fertiliser coming from India will be insufficient.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has been importing fertiliser from different countries since many years. However, farmers are always suffering due to the scarcity of the fertiliser. Although it is necessary to establish a chemical fertiliser factory in the country, no work has been done in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has plans to set up a factory in the country. However, all the plans are limited to paper works. A study conducted by the Government of Nepal suggests that Rs 130 billion is required initially to set up the factory and an additional investment of Rs 22.13 billion is required for operation of the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, chairperson of Seed Entrepreneurs’ Association of Nepal (SEAN) said that once the factory is established, Nepal will require around Rs 100 billion budget to produce 840 metric tons of fertilisers on a daily basis. Nepal has not been able to manage natural gas, which is the most important requirement for the production of fertiliser. He is of the view that before establishing the factory, the government should plan for the regular supply of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the study by the Investment Board Nepal, around 550 megawatts of electricity is required if electricity is used instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Joint Secretary at the Ministry of Agriculture and Livestock Development Prakash Kumar Sanjel, says that the topic of establishing such factory is a complex issue at the moment as the regular supply of gas is required.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He estimates that it will take at least five years to open the factory as the government is conducting study at the moment. However, he said that establishing the factory is an excellent alternative to end the dependency of the country on neighboring countries for fertilizer. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14656', 'image' => '20220311060319_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2022-03-11 18:00:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14914', 'article_category_id' => '1', 'title' => 'Japan Provides Grant Assistance for Improvement of Water Supply in Biratnagar ', 'sub_title' => '', 'summary' => 'March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan’s Ambassador to Nepal, Kikuta Yutaka, and Secretary at the Ministry of Finance, Madhu Kumar Marasini, signed notes to this effect on March 10. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another Grant Agreement for implementing the project was signed by Chief Representative of JICA Nepal, Okubo Akimitsu, and Joint Secretary at the International Economic Cooperation and Coordination Division of the Ministry of Finance, Ishwori Prasad Aryal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project aims to enhance the living standard for the people of Biratnagar City by renovating and expanding the water supply facilities, thereby broadening the water supply area in Biratnagar City. At present, people in Biratnagar have to depend on shallow wells to get water for daily household use and have been affected by shortage of safe drinking water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project will contribute to improving “access to stable supply of water” for about 100,000 people by constructing new deep wells and water purification facilities. Furthermore, some of the existing facilities would also be renovated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ambassador Kikuta stated that the Government of Japan has been providing multifaceted assistance for the betterment of the living standard of Nepali citizens, adding that Japan extended multiple support, including timely vaccine support to prevent and control the COVID-19. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Japan has extended financial support for economic stabilization and development of post COVID-19 Nepal in January. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This time, our assistance is providing safe water which is of vital importance for human life,” Ambassador Kikuta further said adding that this support would be effectively utilized to upgrade living standards in Biratnagar city. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Japan is committed to extending all possible assistance to Nepal in its endeavor for nation building and strengthening the friendly relationship between the peoples of Japan and Nepal," the Japanese Ambassador</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Secretary Marasini on the behalf of the Government of Nepal thanked the Japanese government for its continued support in Nepal's socio-economic development endeavours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14655', 'image' => '20220311061622_1646947747.Clipboard07.jpg', 'article_date' => '2022-03-11 18:15:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14912', 'article_category_id' => '1', 'title' => 'Maintenance of Flood-Ravaged Melamchi Project 60 Percent Complete', 'sub_title' => '', 'summary' => 'March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete. Padam Bahadur Kunwar, divisional engineer of the Melamchi Water Supply Development Board informed that they are preparing to supply water to the Kathmandu Valley by mid-April temporarily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the Chinese contractor Sino Hydro has already completed 60 percent of the work of clearing off the river debris with the help of the Nepalese Army.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kunwar informed that the repair work has reached the final stage as only gates 1, 9 and 38 of Melamchi river will be used to supply water to Kathmandu temporarily. As there occurs some technical glitches on hydraulic systems in gate number 38, its maintenance is also underway, he further shared. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board says that water can be supplied to Kathmandu by mid-April as the clearing of flood and landslide debris at the source of water is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has been a decades-long dream of Kathmandu denizens to have access to water being supplied from Melamchi. Right when the dream was about to be fulfilled, it got further postponed due to the damage caused by the floods and landslides on June 15. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board aims to distribute 170 million liters of water daily in the Kathmandu Valley by next April. However, Kunwar said that the tunnel would have to be shut down for another four months as soon as it starts raining.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He shared that the Asian Development Bank is also carrying out a study on landslide prevention and control in the project site. Stating that 60,000 metric tons of debris has been removed from the tunnel, he said blasting-related task has also come to a final stage. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14654', 'image' => '20220311030754_ETShVBWUcAALuqj.jpg', 'article_date' => '2022-03-11 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14911', 'article_category_id' => '1', 'title' => 'Nepal-China Interstate Transmission Line to cost Rs 10 billion on Nepal’s Side', 'sub_title' => '', 'summary' => 'March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. A team from the Nepal Electricity Authority (NEA) had studied the feasibility of the transmission line to be built in the Nepal section. The team has studied and submitted its report to the NEA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chief of Nepal-China Interstate Transmission Line Project Komal Nath Atreya confirmed that the feasibility study of the project has been completed. The study also showed that it is possible to build a Nepal-China interstate transmission line.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The study has shown the possibility of a transmission line. The work of Environmental Impact Assessment and Detailed Project Report (DPR) is now underway,” he said. The Environmental Impact Assessment will start from the first week of April, and the NEA will make the DPR jointly with China. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the work of environmental impact assessment will be completed within seven months. For the DPR, an agreement between China and Nepal will be signed this month (March).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line of the Nepal section will be of a 400 kV circuit, it will have 207 towers, which will cost Rs 10 billion to build, said Atreya. He said that the length of the transmission line in Nepal will be of 70 kilometers. The total length of the transmission line will be 149 kilometers. On the Chinese side, the length of the transmission line will be 79 kilometers. After the operation, the transmission line will import and export 3,000 MW of electricity between Nepal and China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The study suggests that the transmission line of the Nepal section can be made through two different routes. It has been stated that a transmission line can be constructed from Ratmate to Kerung through Chileme Hub. Similarly, the study has also suggested that a transmission line can be constructed from Ratmate to Kerung via Langtang National Park.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the transmission line from Chilime Hub will cost more. However, technically, it seems to be appropriate to build a transmission line from this route. However, the construction of a transmission line passing through a national park, even if it is easy, is not suitable. Therefore, there is a plan to build a transmission line from the route of Chilime Hub, said Atreya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China is also working to build transmission lines in some parts of its territory. Convert station will be built in Kerung (towards China). It will then be connected to a substation in Jirong County, China, within 79 kilometers of Kerung trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line will be connected to the substation to be built under the MCC project in Ratmate. The proposed substation at Ratmate will be connected to all the transmission systems of Nepal. It will also have connections to the international transmission line to India. In such case, Nepal can become a transit point for trilateral electricity trade between Nepal, India, and China, the study shows.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14653', 'image' => '20220311025357_Transmission.jpg', 'article_date' => '2022-03-11 14:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14910', 'article_category_id' => '1', 'title' => 'Finance Minister Tells Investment Board to Creating its Own Fund for Big Projects', 'sub_title' => '', 'summary' => 'March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He made such remark during the seventh meeting of the Monitoring and Facilitation Committee of the IBN on Thursday (March 10). Speaking on the occasion, Minister Sharma said that the ministry is ready to provide necessary support if the board moves ahead for capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The board’s nature is to wait for investment and then act according to the demands of the investors. This nature of work will not be acceptable anymore,” said Minister Sharma, adding, "IBN should pay attention to investing in big projects by creating capital of its own. We can discuss how we can help set up such fund." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma, who is also the vice-chairperson of the board, advised the IBN to build capital fund for export-oriented projects by holding discussion with the private sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He urged the IBN to take initiative for the investment in projects capable of contributing significantly to the gross domestic project (GDP) and capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the Investment Board had presented work progress of Arun III Hydropower Project and its subordinate projects, Logistic Project, Kaptad Integrated Tourism Development Programme, Tamor Water Reservoir Hydropower Project, Upper Marsyangdi Hydropower Project, Vehicle Manufacturing and Assembling Plant and Huaxin Cement Project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Finance Minister Sharma expressed dissatisfaction over the non-implementation of Investment Board's decision of providing one-stop service to large foreign investors. He was of the view that all foreign investors must be treated equally. The Finance Minister insisted on doing away with the conventional development approach and moving ahead with new perspectives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">IBN Chief Executive Officer Sushil Bhatta highlighted the need of a policy-level decision to come up with special provisions regarding the selection of site for the construction of production-based industries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that although they received a proposal for establishing an automotive industry from a South Korean company, the project could not progress ahead due to the site selection issue. “Therefore, special provisions through policy-level decision are needed to establish industries through the board,” he concluded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14652', 'image' => '20220311125832_fin min sharma.jpg', 'article_date' => '2022-03-11 12:57:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14909', 'article_category_id' => '1', 'title' => 'Promotion of Small Industries Vital for Economic Stability: PM Deuba', 'sub_title' => '', 'summary' => 'March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prime minister was of the view that the country’s development cannot be realized unless such industries are promoted and developed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the 25th National General Convention of Nepal Federation of Small and Cottage Industries in Birgunj on Thursday, PM Deuba said that the government is ready to facilitate the development of small and cottage industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PM Deuba added that the government would take initiative to elevate the status of the small and cottage industries in the country which have been severely affected by the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic prosperity is possible only through sustainable development,” said PM Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to PM Deuba, the government is committed to revitalize the economy that has been battered by the Covid-19 crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There is no option but to step up national production to reduce the trade deficit,” he said, adding government is committed to promoting private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also stressed the need for collaboration between the federal, provincial and local levels to create employment opportunities for hundreds of thousands Nepalis within the country and to contribute to the gross domestic production. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14651', 'image' => '20220311115453_BKM_PARSA_PMDEUBA.jpg', 'article_date' => '2022-03-11 11:53:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14908', 'article_category_id' => '1', 'title' => 'Government Unable to Claim Rs 24 Billion from Donors due to its Own Weaknesses', 'sub_title' => '', 'summary' => 'March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. According to the Financial Comptroller General’s Office, the government is yet to receive almost Rs 25 billion pledged by the donors due to the incompetence of its mechanism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-February in the current fiscal year, the government is yet to receive refunds worth Rs 11.56 billion in grants and Rs 12.36 billion in loans from the donor agencies. The date of the Financial Comptroller General’s Office show that the government is yet to claim refunds of Rs 23.93 billion in total in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision for the government to seek refund from the donors and keep a record of the due amount. The government itself has to bear the cost of development projects built with donors’ assistance and later claim the refund from the donors. The amount refunded by the donors is deposited in the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Financial Comptroller General’s Office, the Ministry of Finance is yet to collect the maximum amount from the donors among all government bodies. It is yet to receive refund of Rs 15.91 billion. Likewise, the provincial governments are also yet to get refund of Rs 6.17 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision to reclaim the amount from the donors by filling up a form not later than 45 days. Those who do not seek the refund is subject to punishment, according to the work procedure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Looking at the figures of the last five years, there seems to have been an improvement in collection of dues from the donors. In fiscal year 2073/74, the government was yet to collect Rs 42.95 billion from the donors but this year such amount is Rs 23.93 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The donor agencies release the funds on the basis of the actual expenses incurred in the projects. However, they have been reluctant to release the amount because the government bodies do not show the actual expenses. However, there has been some improvement in such trend, says Deputy Financial Comptroller General Navaraj Dhungana.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Assistant Financial Comptroller General Krishna Prasad Acharya says that the situation seems to have improved because the donors provided more than the pledged amount during the Covid-19 pandemic. According to him, the problems in refund has surfaced because the donors were unable to monitor the projects and the works remained stalled resulting in the delay in claiming the refund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former secretary Kishor Thapa says that the government does not make the claims with audit report on time after the completion of the projects. Another problem, according to Thapa, is the appointment of new project chiefs frequently for development projects and the delay in completion of works. </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14650', 'image' => '20220310062541_BidKIr1CAAEJcjw.jpg', 'article_date' => '2022-03-10 18:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14907', 'article_category_id' => '1', 'title' => 'Government and NRB ‘Responsible’ for Liquidity Crisis ', 'sub_title' => '', 'summary' => 'March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at a program titled 'BizTalk' organised at Morang Trade Association on Tuesday, economist Dr Bhesh Prasad Dhamala said that the government was responsible for the brain drain which in turn was affecting production due to lack of manpower. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The rise in bank’s interest rates has affected production adversely," he said, adding, "The economic prosperity of the country cannot be achieved by forcing the country's skilled human resources to search for greener pastures abroad." He emphasized the need to reduce taxes and to discourage tax increment under new headings if the government is to keep the economy afloat. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Professor Dr PK Jha remarked that Nepal's economic policy is becoming tougher. Stating that most of the allocated budget is spent in unproductive sector, he opined that the government must step up investment in productive sector. Furthermore, he said that NRB was also to blame for the liquidity crisis in the market. Stating that entrepreneurship is the backbone of sustainable development, he said that entrepreneurship should be institutionalized using new technologies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The budget cannot be implemented in the right place just by shouting slogans, the budget must be fully implemented for the purpose it was announced," he said. Moreover, Dr Jha said that although the government was aware of the current situation of the industry, trade and business sector, it hasn’t done any concrete work for their revival. He stressed on the need for the government to formulate policies for the development of entrepreneurship in the interest of industrialists and traders. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Another economist Professor Dr Bedraj Acharya said that priority should be given to the use of raw materials based on local resources in order to utilize domestic funds within the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14649', 'image' => '20220310042841_1646860563.5.jpg', 'article_date' => '2022-03-10 16:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14905', 'article_category_id' => '1', 'title' => 'Price of Eggs Goes Up', 'sub_title' => '', 'summary' => 'March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). ', '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"">March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). The price of eggs has now increased to Rs 395 per crate for big-sized eggs and Rs 365 per crate for medium-sized eggs. Earlier, the price of big-sized egg was Rs 365 per crate and the price of medium-sized eggs was Rs 335 per crate. According to the increased price, the factory price per egg is Rs 13.16 but the consumer price has been fixed at Rs 16 per piece.</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 rising price of eggs consumed on a daily basis has benefited middlemen and traders more than the poultry farmers. Even though the price has gone up, the amount received by the farmers is only Rs 13.16 per egg. The consumer price has been fixed at Rs 16 by adding the transportation charge. </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"">Although the association has fixed the new retail price of Rs 16, the traders were found charging up to Rs 17 from the consumers when the gate price of eggs was Rs 12.16. Now that the association has set the consumer price at Rs 16, traders can charge consumers between Rs 18 to Rs 19.</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"">Chairman of the Nepal Egg Producers' Association Shivaram KC said that the price received by the farmers was not much more than their production cost. According to him, if the price is to be adjusted in such a way that the poultry farmers can make a profit, then the gate price of egg should be raised to Rs 15 which would increase the price of eggs to Rs 450 per crate.</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"">According to the association, the demand for eggs has increased in Nepal recently and the price had to be increased due to the decline in production. Apart from this, the association has said that the rise in price of raw material for poultry feed has affected the price of eggs. </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"">Earlier, 3.8 million eggs were produced per day in Nepal, but now the production has been reduced to 3.4 million, according to the association. Due to the increase in the price of grains, most of the farmers have not been able to raise chickens. The decline in poultry farming has led to a decline in production of eggs.</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 price of soybean, the main raw material of poultry feed, has gone up by Rs 55 per kg and maize by Rs 10 per kg in a year. Recently, Chinese businessmen have increased their consumption of raw materials including soybeans, which has led to shortage in other countries. Rabin Puri, president of the Grain Industries Association, said that the price may have gone up due to the same reason.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14648', 'image' => '20220310025726_egg.jpg', 'article_date' => '2022-03-10 14:56:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14906', 'article_category_id' => '1', 'title' => 'Entrepreneur Hira Lal Kedia No More', 'sub_title' => '', 'summary' => 'March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87. He died while undergoing treatment at HAMS Hospital in Kathmandu on Tuesday night, according to his nephew Pradip Kedia. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Kedia, who had been suffering from diabetes since a long time, was recently been diagnosed with pneumonia. Family members have stated that he died due to pneumonia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Late Kedia's body was brought to his hometown Birgunj on Wednesday. Nephew Pradip Kedia informed that the last rights of the dead body was to be performed in Bagmati of Sarlahi district on Wednesday (March 9) itself. Hira Lal Kedia had been leading the Kedia Organisation after the death of Shankar Lal Kedia, the founder of the business group.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from business, late Kedia was also active in social works. Social organizations and the state have also given various honors to Kedia for his contribution in the field of industry, trade and social services.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14647', 'image' => '20220310031230_17y - Copy.jpg', 'article_date' => '2022-03-10 15:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14904', 'article_category_id' => '1', 'title' => 'Price of Gold Drops by Rs 3,500 per 11 Grams Today', 'sub_title' => '', 'summary' => 'March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has been adjusted at Rs 102,000 on Thursday. The precious yellow metal was traded for Rs 105,500 per tola on Wednesday, which was an all-time highest price in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation the price of silver has decreased by Rs 45 per tola on Thursday as compared to the previous trading day. Silver is being traded for Rs 1,405 per tola as of March 10, stated the federation’s website. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14646', 'image' => '20220310011833_gold.jpg', 'article_date' => '2022-03-10 13:16:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department registered the writ petition at the High Court Patan on Friday (March 11) demanding clearance of over Rs 7.436 billion from the Balaju-based company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case was filed against the board of directors of Bottlers' Nepal, its managing director and 17 authorized persons mainly responsible for financial transaction and audit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charge sheet has noted that the company was involved in evading tax by not completing the process on payment of capital gains tax. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14660', 'image' => '20220313012008_tax-evasionn.jpg', 'article_date' => '2022-03-13 13:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14918', 'article_category_id' => '1', 'title' => 'Federation of Nepal Cottage and Small Industries gets New Leadership', 'sub_title' => '', 'summary' => 'March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to this, Singh has already taken upon the roles of senior vice president, founding member, acting president and other responsibilities of the federation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Bahadur Kandel has been selected as the senior vice president of the association by the 25th National General Convention of the federation and the 22nd National Women Entrepreneurs Conference organized in Birgunj.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Purna Bahadur Bhandari from small enterprise, Prakash Rawal from small industries, Chandan Krishna Shrestha from small industries, Mukesh Upadhyay from international relations, Shova Gurung from women’s quota, Mohan Katuwal from commodities, Shanta Baskota Koirala from associates, Satya Narayan Prajapati from cooperatives, Harihar Thapa from agriculture and Rajendra Man Shrestha from tourism have been selected as vice presidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Moreover, the federation informed that Dambar Prasad Regmi has been elected as general secretary, Achyut Pandey as treasurer, and Deepak Bahadur Budha as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the deputy treasurers include Bhesh Raj Pandey (cooperative), Mahendra Bahadur Chitrakar (commodity), Rudra Prasad Neupane (associate), and Gyan Bahadur Khadka alongside 80 new members.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A new executive committee of the women entrepreneur committee of the federation has been elected under the chairmanship of Roshni Upadhyaya. The committee consists of 14 members which includes Rita Awal as senior vice president, Krishna Kumari Pathak as vice president for business, Tara Acharya as vice president for organization, Dr Soni Mahato as general secretary, Meena Tamang as treasurer, and Deepa Shakya as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Newly elected chairperson Singh said that she would work for the rights and interests of small, home-based and small-scale industrialists while upholding the dignity of the federation.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14659', 'image' => '20220313043305_17629812_1215515445183982_5951300167011014903_n.jpg', 'article_date' => '2022-03-13 16:32:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14916', 'article_category_id' => '1', 'title' => 'China Agrees to Increase Trade Volume with Nepal', 'sub_title' => '', 'summary' => 'March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. According to the District Administration Office, Rasuwa, the two sides reached an agreement to increase the supply of Chinese goods during a recent virtual meeting between the border officials of Rasuwa and Jilung Province in Kerung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such initiative was taken by the Chief District Officer of Rasuwa Nawaraj Jaisi, who urged his Chinese counterparts to meet the demand of the Nepalese market as Covid-19 cases have declined significantly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CDO Jaisi reportedly said that the two countries have agreed to allow 14 containers carrying goods into Rasuwagadhi on a daily basis soon. Currently, nine containers of goods are being imported into Nepal every day from this customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali importers and businessmen are said to be happy with the decision to increase the volume of goods from China, the state-owned national news agency RSS reported.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14658', 'image' => '20220313113823_Nepal-china-trade.jpg', 'article_date' => '2022-03-13 11:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14915', 'article_category_id' => '1', 'title' => 'Most of the Macroconomic Indicators Negative: NRB Report', 'sub_title' => '', 'summary' => 'March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. The Current Macroeconomic and Financial Situation Report of the first seven months of FY 2021/22 published by Nepal Rastra Bank (NRB) on Friday shows that majority of the indicators are negative.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s imports in the first seven months of the current fiscal year stands at Rs 1147 billion which is an increase of 42.8 percent compared to the corresponding period of the last fiscal year. Nepal’s imports had increased by 0.1 percent during the corresponding period of last year, according to the NRB report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economists say that the people will ultimately have to bear the consequences as Nepal’s economy is driven by imports. Economist Dr Resham Thapa says that the country’s overall economy is slipping behind.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“All the economic indicators of the last seven months are negative,” said Thapa, adding, “This will directly impact the general public. Inflation is also more than last year. The indicators clearly show that inflation is going to further rise in the near future.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank’s report, Gross foreign exchange reserves decreased 16.2 percent to Rs 1173.02 billion in mid-February 2022 from Rs 1399.03 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s foreign exchange reserves are enough for imports of goods and services for the next six months. However, economists argue that the country’s foreign exchange reserves are not what they seem to be due to the increase in prices of gold, petroleum products and the rate of US dollars. Thapa argues that Nepal has failed to capitalize on the rise in US dollar because its economy is import-oriented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 17.7 percent to Rs 1024.60 billion in mid-February 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 3.9 percent to Rs 148.42 billion in mid-February 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 24.2 percent in mid-February 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Balance of Payments (BOP) remained at a deficit of Rs 247.03 billion in the review period against a surplus of Rs 97.36 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inflow of remittance decreased 4.9 percent to Rs 540.12 billion in the review period against an increase of 10.9 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The year-on-year consumer price inflation stood at 5.97 percent in the seventh month of FY 2021/22 compared to 2.70 percent a year ago. Food and beverage inflation stood at 6.00 percent whereas non-food and service inflation stood at 5.96 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current account remained at a deficit of Rs 413.86 billion in the review period compared to a deficit of Rs 104.39 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts argue that the impact of Russia-Ukraine war that broke on February 24 has already affected Nepal’s market but the central bank’s report does not show the impact of war.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14657', 'image' => '20220311064519_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-11 18:44:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14913', 'article_category_id' => '1', 'title' => 'Concept of Fertiliser Plant Limited to Papers', 'sub_title' => '', 'summary' => 'March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years. With Nepal consuming 750,000 to 800,000 metric tons of fertiliser every year, it is said that the fertiliser coming from India will be insufficient.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has been importing fertiliser from different countries since many years. However, farmers are always suffering due to the scarcity of the fertiliser. Although it is necessary to establish a chemical fertiliser factory in the country, no work has been done in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has plans to set up a factory in the country. However, all the plans are limited to paper works. A study conducted by the Government of Nepal suggests that Rs 130 billion is required initially to set up the factory and an additional investment of Rs 22.13 billion is required for operation of the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, chairperson of Seed Entrepreneurs’ Association of Nepal (SEAN) said that once the factory is established, Nepal will require around Rs 100 billion budget to produce 840 metric tons of fertilisers on a daily basis. Nepal has not been able to manage natural gas, which is the most important requirement for the production of fertiliser. He is of the view that before establishing the factory, the government should plan for the regular supply of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the study by the Investment Board Nepal, around 550 megawatts of electricity is required if electricity is used instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Joint Secretary at the Ministry of Agriculture and Livestock Development Prakash Kumar Sanjel, says that the topic of establishing such factory is a complex issue at the moment as the regular supply of gas is required.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He estimates that it will take at least five years to open the factory as the government is conducting study at the moment. However, he said that establishing the factory is an excellent alternative to end the dependency of the country on neighboring countries for fertilizer. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14656', 'image' => '20220311060319_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2022-03-11 18:00:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14914', 'article_category_id' => '1', 'title' => 'Japan Provides Grant Assistance for Improvement of Water Supply in Biratnagar ', 'sub_title' => '', 'summary' => 'March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan’s Ambassador to Nepal, Kikuta Yutaka, and Secretary at the Ministry of Finance, Madhu Kumar Marasini, signed notes to this effect on March 10. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another Grant Agreement for implementing the project was signed by Chief Representative of JICA Nepal, Okubo Akimitsu, and Joint Secretary at the International Economic Cooperation and Coordination Division of the Ministry of Finance, Ishwori Prasad Aryal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project aims to enhance the living standard for the people of Biratnagar City by renovating and expanding the water supply facilities, thereby broadening the water supply area in Biratnagar City. At present, people in Biratnagar have to depend on shallow wells to get water for daily household use and have been affected by shortage of safe drinking water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project will contribute to improving “access to stable supply of water” for about 100,000 people by constructing new deep wells and water purification facilities. Furthermore, some of the existing facilities would also be renovated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ambassador Kikuta stated that the Government of Japan has been providing multifaceted assistance for the betterment of the living standard of Nepali citizens, adding that Japan extended multiple support, including timely vaccine support to prevent and control the COVID-19. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Japan has extended financial support for economic stabilization and development of post COVID-19 Nepal in January. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This time, our assistance is providing safe water which is of vital importance for human life,” Ambassador Kikuta further said adding that this support would be effectively utilized to upgrade living standards in Biratnagar city. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Japan is committed to extending all possible assistance to Nepal in its endeavor for nation building and strengthening the friendly relationship between the peoples of Japan and Nepal," the Japanese Ambassador</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Secretary Marasini on the behalf of the Government of Nepal thanked the Japanese government for its continued support in Nepal's socio-economic development endeavours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14655', 'image' => '20220311061622_1646947747.Clipboard07.jpg', 'article_date' => '2022-03-11 18:15:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14912', 'article_category_id' => '1', 'title' => 'Maintenance of Flood-Ravaged Melamchi Project 60 Percent Complete', 'sub_title' => '', 'summary' => 'March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete. Padam Bahadur Kunwar, divisional engineer of the Melamchi Water Supply Development Board informed that they are preparing to supply water to the Kathmandu Valley by mid-April temporarily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the Chinese contractor Sino Hydro has already completed 60 percent of the work of clearing off the river debris with the help of the Nepalese Army.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kunwar informed that the repair work has reached the final stage as only gates 1, 9 and 38 of Melamchi river will be used to supply water to Kathmandu temporarily. As there occurs some technical glitches on hydraulic systems in gate number 38, its maintenance is also underway, he further shared. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board says that water can be supplied to Kathmandu by mid-April as the clearing of flood and landslide debris at the source of water is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has been a decades-long dream of Kathmandu denizens to have access to water being supplied from Melamchi. Right when the dream was about to be fulfilled, it got further postponed due to the damage caused by the floods and landslides on June 15. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board aims to distribute 170 million liters of water daily in the Kathmandu Valley by next April. However, Kunwar said that the tunnel would have to be shut down for another four months as soon as it starts raining.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He shared that the Asian Development Bank is also carrying out a study on landslide prevention and control in the project site. Stating that 60,000 metric tons of debris has been removed from the tunnel, he said blasting-related task has also come to a final stage. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14654', 'image' => '20220311030754_ETShVBWUcAALuqj.jpg', 'article_date' => '2022-03-11 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14911', 'article_category_id' => '1', 'title' => 'Nepal-China Interstate Transmission Line to cost Rs 10 billion on Nepal’s Side', 'sub_title' => '', 'summary' => 'March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. A team from the Nepal Electricity Authority (NEA) had studied the feasibility of the transmission line to be built in the Nepal section. The team has studied and submitted its report to the NEA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chief of Nepal-China Interstate Transmission Line Project Komal Nath Atreya confirmed that the feasibility study of the project has been completed. The study also showed that it is possible to build a Nepal-China interstate transmission line.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The study has shown the possibility of a transmission line. The work of Environmental Impact Assessment and Detailed Project Report (DPR) is now underway,” he said. The Environmental Impact Assessment will start from the first week of April, and the NEA will make the DPR jointly with China. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the work of environmental impact assessment will be completed within seven months. For the DPR, an agreement between China and Nepal will be signed this month (March).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line of the Nepal section will be of a 400 kV circuit, it will have 207 towers, which will cost Rs 10 billion to build, said Atreya. He said that the length of the transmission line in Nepal will be of 70 kilometers. The total length of the transmission line will be 149 kilometers. On the Chinese side, the length of the transmission line will be 79 kilometers. After the operation, the transmission line will import and export 3,000 MW of electricity between Nepal and China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The study suggests that the transmission line of the Nepal section can be made through two different routes. It has been stated that a transmission line can be constructed from Ratmate to Kerung through Chileme Hub. Similarly, the study has also suggested that a transmission line can be constructed from Ratmate to Kerung via Langtang National Park.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the transmission line from Chilime Hub will cost more. However, technically, it seems to be appropriate to build a transmission line from this route. However, the construction of a transmission line passing through a national park, even if it is easy, is not suitable. Therefore, there is a plan to build a transmission line from the route of Chilime Hub, said Atreya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China is also working to build transmission lines in some parts of its territory. Convert station will be built in Kerung (towards China). It will then be connected to a substation in Jirong County, China, within 79 kilometers of Kerung trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line will be connected to the substation to be built under the MCC project in Ratmate. The proposed substation at Ratmate will be connected to all the transmission systems of Nepal. It will also have connections to the international transmission line to India. In such case, Nepal can become a transit point for trilateral electricity trade between Nepal, India, and China, the study shows.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14653', 'image' => '20220311025357_Transmission.jpg', 'article_date' => '2022-03-11 14:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14910', 'article_category_id' => '1', 'title' => 'Finance Minister Tells Investment Board to Creating its Own Fund for Big Projects', 'sub_title' => '', 'summary' => 'March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He made such remark during the seventh meeting of the Monitoring and Facilitation Committee of the IBN on Thursday (March 10). Speaking on the occasion, Minister Sharma said that the ministry is ready to provide necessary support if the board moves ahead for capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The board’s nature is to wait for investment and then act according to the demands of the investors. This nature of work will not be acceptable anymore,” said Minister Sharma, adding, "IBN should pay attention to investing in big projects by creating capital of its own. We can discuss how we can help set up such fund." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma, who is also the vice-chairperson of the board, advised the IBN to build capital fund for export-oriented projects by holding discussion with the private sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He urged the IBN to take initiative for the investment in projects capable of contributing significantly to the gross domestic project (GDP) and capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the Investment Board had presented work progress of Arun III Hydropower Project and its subordinate projects, Logistic Project, Kaptad Integrated Tourism Development Programme, Tamor Water Reservoir Hydropower Project, Upper Marsyangdi Hydropower Project, Vehicle Manufacturing and Assembling Plant and Huaxin Cement Project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Finance Minister Sharma expressed dissatisfaction over the non-implementation of Investment Board's decision of providing one-stop service to large foreign investors. He was of the view that all foreign investors must be treated equally. The Finance Minister insisted on doing away with the conventional development approach and moving ahead with new perspectives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">IBN Chief Executive Officer Sushil Bhatta highlighted the need of a policy-level decision to come up with special provisions regarding the selection of site for the construction of production-based industries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that although they received a proposal for establishing an automotive industry from a South Korean company, the project could not progress ahead due to the site selection issue. “Therefore, special provisions through policy-level decision are needed to establish industries through the board,” he concluded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14652', 'image' => '20220311125832_fin min sharma.jpg', 'article_date' => '2022-03-11 12:57:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14909', 'article_category_id' => '1', 'title' => 'Promotion of Small Industries Vital for Economic Stability: PM Deuba', 'sub_title' => '', 'summary' => 'March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prime minister was of the view that the country’s development cannot be realized unless such industries are promoted and developed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the 25th National General Convention of Nepal Federation of Small and Cottage Industries in Birgunj on Thursday, PM Deuba said that the government is ready to facilitate the development of small and cottage industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PM Deuba added that the government would take initiative to elevate the status of the small and cottage industries in the country which have been severely affected by the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic prosperity is possible only through sustainable development,” said PM Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to PM Deuba, the government is committed to revitalize the economy that has been battered by the Covid-19 crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There is no option but to step up national production to reduce the trade deficit,” he said, adding government is committed to promoting private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also stressed the need for collaboration between the federal, provincial and local levels to create employment opportunities for hundreds of thousands Nepalis within the country and to contribute to the gross domestic production. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14651', 'image' => '20220311115453_BKM_PARSA_PMDEUBA.jpg', 'article_date' => '2022-03-11 11:53:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14908', 'article_category_id' => '1', 'title' => 'Government Unable to Claim Rs 24 Billion from Donors due to its Own Weaknesses', 'sub_title' => '', 'summary' => 'March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. According to the Financial Comptroller General’s Office, the government is yet to receive almost Rs 25 billion pledged by the donors due to the incompetence of its mechanism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-February in the current fiscal year, the government is yet to receive refunds worth Rs 11.56 billion in grants and Rs 12.36 billion in loans from the donor agencies. The date of the Financial Comptroller General’s Office show that the government is yet to claim refunds of Rs 23.93 billion in total in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision for the government to seek refund from the donors and keep a record of the due amount. The government itself has to bear the cost of development projects built with donors’ assistance and later claim the refund from the donors. The amount refunded by the donors is deposited in the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Financial Comptroller General’s Office, the Ministry of Finance is yet to collect the maximum amount from the donors among all government bodies. It is yet to receive refund of Rs 15.91 billion. Likewise, the provincial governments are also yet to get refund of Rs 6.17 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision to reclaim the amount from the donors by filling up a form not later than 45 days. Those who do not seek the refund is subject to punishment, according to the work procedure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Looking at the figures of the last five years, there seems to have been an improvement in collection of dues from the donors. In fiscal year 2073/74, the government was yet to collect Rs 42.95 billion from the donors but this year such amount is Rs 23.93 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The donor agencies release the funds on the basis of the actual expenses incurred in the projects. However, they have been reluctant to release the amount because the government bodies do not show the actual expenses. However, there has been some improvement in such trend, says Deputy Financial Comptroller General Navaraj Dhungana.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Assistant Financial Comptroller General Krishna Prasad Acharya says that the situation seems to have improved because the donors provided more than the pledged amount during the Covid-19 pandemic. According to him, the problems in refund has surfaced because the donors were unable to monitor the projects and the works remained stalled resulting in the delay in claiming the refund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former secretary Kishor Thapa says that the government does not make the claims with audit report on time after the completion of the projects. Another problem, according to Thapa, is the appointment of new project chiefs frequently for development projects and the delay in completion of works. </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14650', 'image' => '20220310062541_BidKIr1CAAEJcjw.jpg', 'article_date' => '2022-03-10 18:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14907', 'article_category_id' => '1', 'title' => 'Government and NRB ‘Responsible’ for Liquidity Crisis ', 'sub_title' => '', 'summary' => 'March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at a program titled 'BizTalk' organised at Morang Trade Association on Tuesday, economist Dr Bhesh Prasad Dhamala said that the government was responsible for the brain drain which in turn was affecting production due to lack of manpower. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The rise in bank’s interest rates has affected production adversely," he said, adding, "The economic prosperity of the country cannot be achieved by forcing the country's skilled human resources to search for greener pastures abroad." He emphasized the need to reduce taxes and to discourage tax increment under new headings if the government is to keep the economy afloat. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Professor Dr PK Jha remarked that Nepal's economic policy is becoming tougher. Stating that most of the allocated budget is spent in unproductive sector, he opined that the government must step up investment in productive sector. Furthermore, he said that NRB was also to blame for the liquidity crisis in the market. Stating that entrepreneurship is the backbone of sustainable development, he said that entrepreneurship should be institutionalized using new technologies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The budget cannot be implemented in the right place just by shouting slogans, the budget must be fully implemented for the purpose it was announced," he said. Moreover, Dr Jha said that although the government was aware of the current situation of the industry, trade and business sector, it hasn’t done any concrete work for their revival. He stressed on the need for the government to formulate policies for the development of entrepreneurship in the interest of industrialists and traders. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Another economist Professor Dr Bedraj Acharya said that priority should be given to the use of raw materials based on local resources in order to utilize domestic funds within the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14649', 'image' => '20220310042841_1646860563.5.jpg', 'article_date' => '2022-03-10 16:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14905', 'article_category_id' => '1', 'title' => 'Price of Eggs Goes Up', 'sub_title' => '', 'summary' => 'March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). ', '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"">March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). The price of eggs has now increased to Rs 395 per crate for big-sized eggs and Rs 365 per crate for medium-sized eggs. Earlier, the price of big-sized egg was Rs 365 per crate and the price of medium-sized eggs was Rs 335 per crate. According to the increased price, the factory price per egg is Rs 13.16 but the consumer price has been fixed at Rs 16 per piece.</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 rising price of eggs consumed on a daily basis has benefited middlemen and traders more than the poultry farmers. Even though the price has gone up, the amount received by the farmers is only Rs 13.16 per egg. The consumer price has been fixed at Rs 16 by adding the transportation charge. </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"">Although the association has fixed the new retail price of Rs 16, the traders were found charging up to Rs 17 from the consumers when the gate price of eggs was Rs 12.16. Now that the association has set the consumer price at Rs 16, traders can charge consumers between Rs 18 to Rs 19.</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"">Chairman of the Nepal Egg Producers' Association Shivaram KC said that the price received by the farmers was not much more than their production cost. According to him, if the price is to be adjusted in such a way that the poultry farmers can make a profit, then the gate price of egg should be raised to Rs 15 which would increase the price of eggs to Rs 450 per crate.</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"">According to the association, the demand for eggs has increased in Nepal recently and the price had to be increased due to the decline in production. Apart from this, the association has said that the rise in price of raw material for poultry feed has affected the price of eggs. </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"">Earlier, 3.8 million eggs were produced per day in Nepal, but now the production has been reduced to 3.4 million, according to the association. Due to the increase in the price of grains, most of the farmers have not been able to raise chickens. The decline in poultry farming has led to a decline in production of eggs.</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 price of soybean, the main raw material of poultry feed, has gone up by Rs 55 per kg and maize by Rs 10 per kg in a year. Recently, Chinese businessmen have increased their consumption of raw materials including soybeans, which has led to shortage in other countries. Rabin Puri, president of the Grain Industries Association, said that the price may have gone up due to the same reason.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14648', 'image' => '20220310025726_egg.jpg', 'article_date' => '2022-03-10 14:56:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14906', 'article_category_id' => '1', 'title' => 'Entrepreneur Hira Lal Kedia No More', 'sub_title' => '', 'summary' => 'March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87. He died while undergoing treatment at HAMS Hospital in Kathmandu on Tuesday night, according to his nephew Pradip Kedia. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Kedia, who had been suffering from diabetes since a long time, was recently been diagnosed with pneumonia. Family members have stated that he died due to pneumonia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Late Kedia's body was brought to his hometown Birgunj on Wednesday. Nephew Pradip Kedia informed that the last rights of the dead body was to be performed in Bagmati of Sarlahi district on Wednesday (March 9) itself. Hira Lal Kedia had been leading the Kedia Organisation after the death of Shankar Lal Kedia, the founder of the business group.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from business, late Kedia was also active in social works. Social organizations and the state have also given various honors to Kedia for his contribution in the field of industry, trade and social services.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14647', 'image' => '20220310031230_17y - Copy.jpg', 'article_date' => '2022-03-10 15:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14904', 'article_category_id' => '1', 'title' => 'Price of Gold Drops by Rs 3,500 per 11 Grams Today', 'sub_title' => '', 'summary' => 'March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has been adjusted at Rs 102,000 on Thursday. The precious yellow metal was traded for Rs 105,500 per tola on Wednesday, which was an all-time highest price in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation the price of silver has decreased by Rs 45 per tola on Thursday as compared to the previous trading day. Silver is being traded for Rs 1,405 per tola as of March 10, stated the federation’s website. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14646', 'image' => '20220310011833_gold.jpg', 'article_date' => '2022-03-10 13:16:35', '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' => '14917', 'article_category_id' => '1', 'title' => 'DRI Drags Bottlers' Nepal into Court, Demands Clearance of Rs 7.5 Billion ', 'sub_title' => '', 'summary' => 'March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department registered the writ petition at the High Court Patan on Friday (March 11) demanding clearance of over Rs 7.436 billion from the Balaju-based company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case was filed against the board of directors of Bottlers' Nepal, its managing director and 17 authorized persons mainly responsible for financial transaction and audit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charge sheet has noted that the company was involved in evading tax by not completing the process on payment of capital gains tax. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14660', 'image' => '20220313012008_tax-evasionn.jpg', 'article_date' => '2022-03-13 13:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14918', 'article_category_id' => '1', 'title' => 'Federation of Nepal Cottage and Small Industries gets New Leadership', 'sub_title' => '', 'summary' => 'March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to this, Singh has already taken upon the roles of senior vice president, founding member, acting president and other responsibilities of the federation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Bahadur Kandel has been selected as the senior vice president of the association by the 25th National General Convention of the federation and the 22nd National Women Entrepreneurs Conference organized in Birgunj.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Purna Bahadur Bhandari from small enterprise, Prakash Rawal from small industries, Chandan Krishna Shrestha from small industries, Mukesh Upadhyay from international relations, Shova Gurung from women’s quota, Mohan Katuwal from commodities, Shanta Baskota Koirala from associates, Satya Narayan Prajapati from cooperatives, Harihar Thapa from agriculture and Rajendra Man Shrestha from tourism have been selected as vice presidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Moreover, the federation informed that Dambar Prasad Regmi has been elected as general secretary, Achyut Pandey as treasurer, and Deepak Bahadur Budha as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the deputy treasurers include Bhesh Raj Pandey (cooperative), Mahendra Bahadur Chitrakar (commodity), Rudra Prasad Neupane (associate), and Gyan Bahadur Khadka alongside 80 new members.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A new executive committee of the women entrepreneur committee of the federation has been elected under the chairmanship of Roshni Upadhyaya. The committee consists of 14 members which includes Rita Awal as senior vice president, Krishna Kumari Pathak as vice president for business, Tara Acharya as vice president for organization, Dr Soni Mahato as general secretary, Meena Tamang as treasurer, and Deepa Shakya as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Newly elected chairperson Singh said that she would work for the rights and interests of small, home-based and small-scale industrialists while upholding the dignity of the federation.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14659', 'image' => '20220313043305_17629812_1215515445183982_5951300167011014903_n.jpg', 'article_date' => '2022-03-13 16:32:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14916', 'article_category_id' => '1', 'title' => 'China Agrees to Increase Trade Volume with Nepal', 'sub_title' => '', 'summary' => 'March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. According to the District Administration Office, Rasuwa, the two sides reached an agreement to increase the supply of Chinese goods during a recent virtual meeting between the border officials of Rasuwa and Jilung Province in Kerung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such initiative was taken by the Chief District Officer of Rasuwa Nawaraj Jaisi, who urged his Chinese counterparts to meet the demand of the Nepalese market as Covid-19 cases have declined significantly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CDO Jaisi reportedly said that the two countries have agreed to allow 14 containers carrying goods into Rasuwagadhi on a daily basis soon. Currently, nine containers of goods are being imported into Nepal every day from this customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali importers and businessmen are said to be happy with the decision to increase the volume of goods from China, the state-owned national news agency RSS reported.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14658', 'image' => '20220313113823_Nepal-china-trade.jpg', 'article_date' => '2022-03-13 11:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14915', 'article_category_id' => '1', 'title' => 'Most of the Macroconomic Indicators Negative: NRB Report', 'sub_title' => '', 'summary' => 'March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. The Current Macroeconomic and Financial Situation Report of the first seven months of FY 2021/22 published by Nepal Rastra Bank (NRB) on Friday shows that majority of the indicators are negative.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s imports in the first seven months of the current fiscal year stands at Rs 1147 billion which is an increase of 42.8 percent compared to the corresponding period of the last fiscal year. Nepal’s imports had increased by 0.1 percent during the corresponding period of last year, according to the NRB report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economists say that the people will ultimately have to bear the consequences as Nepal’s economy is driven by imports. Economist Dr Resham Thapa says that the country’s overall economy is slipping behind.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“All the economic indicators of the last seven months are negative,” said Thapa, adding, “This will directly impact the general public. Inflation is also more than last year. The indicators clearly show that inflation is going to further rise in the near future.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank’s report, Gross foreign exchange reserves decreased 16.2 percent to Rs 1173.02 billion in mid-February 2022 from Rs 1399.03 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s foreign exchange reserves are enough for imports of goods and services for the next six months. However, economists argue that the country’s foreign exchange reserves are not what they seem to be due to the increase in prices of gold, petroleum products and the rate of US dollars. Thapa argues that Nepal has failed to capitalize on the rise in US dollar because its economy is import-oriented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 17.7 percent to Rs 1024.60 billion in mid-February 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 3.9 percent to Rs 148.42 billion in mid-February 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 24.2 percent in mid-February 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Balance of Payments (BOP) remained at a deficit of Rs 247.03 billion in the review period against a surplus of Rs 97.36 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inflow of remittance decreased 4.9 percent to Rs 540.12 billion in the review period against an increase of 10.9 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The year-on-year consumer price inflation stood at 5.97 percent in the seventh month of FY 2021/22 compared to 2.70 percent a year ago. Food and beverage inflation stood at 6.00 percent whereas non-food and service inflation stood at 5.96 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current account remained at a deficit of Rs 413.86 billion in the review period compared to a deficit of Rs 104.39 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts argue that the impact of Russia-Ukraine war that broke on February 24 has already affected Nepal’s market but the central bank’s report does not show the impact of war.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14657', 'image' => '20220311064519_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-11 18:44:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14913', 'article_category_id' => '1', 'title' => 'Concept of Fertiliser Plant Limited to Papers', 'sub_title' => '', 'summary' => 'March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years. With Nepal consuming 750,000 to 800,000 metric tons of fertiliser every year, it is said that the fertiliser coming from India will be insufficient.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has been importing fertiliser from different countries since many years. However, farmers are always suffering due to the scarcity of the fertiliser. Although it is necessary to establish a chemical fertiliser factory in the country, no work has been done in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has plans to set up a factory in the country. However, all the plans are limited to paper works. A study conducted by the Government of Nepal suggests that Rs 130 billion is required initially to set up the factory and an additional investment of Rs 22.13 billion is required for operation of the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, chairperson of Seed Entrepreneurs’ Association of Nepal (SEAN) said that once the factory is established, Nepal will require around Rs 100 billion budget to produce 840 metric tons of fertilisers on a daily basis. Nepal has not been able to manage natural gas, which is the most important requirement for the production of fertiliser. He is of the view that before establishing the factory, the government should plan for the regular supply of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the study by the Investment Board Nepal, around 550 megawatts of electricity is required if electricity is used instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Joint Secretary at the Ministry of Agriculture and Livestock Development Prakash Kumar Sanjel, says that the topic of establishing such factory is a complex issue at the moment as the regular supply of gas is required.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He estimates that it will take at least five years to open the factory as the government is conducting study at the moment. However, he said that establishing the factory is an excellent alternative to end the dependency of the country on neighboring countries for fertilizer. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14656', 'image' => '20220311060319_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2022-03-11 18:00:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14914', 'article_category_id' => '1', 'title' => 'Japan Provides Grant Assistance for Improvement of Water Supply in Biratnagar ', 'sub_title' => '', 'summary' => 'March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan’s Ambassador to Nepal, Kikuta Yutaka, and Secretary at the Ministry of Finance, Madhu Kumar Marasini, signed notes to this effect on March 10. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another Grant Agreement for implementing the project was signed by Chief Representative of JICA Nepal, Okubo Akimitsu, and Joint Secretary at the International Economic Cooperation and Coordination Division of the Ministry of Finance, Ishwori Prasad Aryal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project aims to enhance the living standard for the people of Biratnagar City by renovating and expanding the water supply facilities, thereby broadening the water supply area in Biratnagar City. At present, people in Biratnagar have to depend on shallow wells to get water for daily household use and have been affected by shortage of safe drinking water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project will contribute to improving “access to stable supply of water” for about 100,000 people by constructing new deep wells and water purification facilities. Furthermore, some of the existing facilities would also be renovated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ambassador Kikuta stated that the Government of Japan has been providing multifaceted assistance for the betterment of the living standard of Nepali citizens, adding that Japan extended multiple support, including timely vaccine support to prevent and control the COVID-19. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Japan has extended financial support for economic stabilization and development of post COVID-19 Nepal in January. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This time, our assistance is providing safe water which is of vital importance for human life,” Ambassador Kikuta further said adding that this support would be effectively utilized to upgrade living standards in Biratnagar city. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Japan is committed to extending all possible assistance to Nepal in its endeavor for nation building and strengthening the friendly relationship between the peoples of Japan and Nepal," the Japanese Ambassador</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Secretary Marasini on the behalf of the Government of Nepal thanked the Japanese government for its continued support in Nepal's socio-economic development endeavours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14655', 'image' => '20220311061622_1646947747.Clipboard07.jpg', 'article_date' => '2022-03-11 18:15:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14912', 'article_category_id' => '1', 'title' => 'Maintenance of Flood-Ravaged Melamchi Project 60 Percent Complete', 'sub_title' => '', 'summary' => 'March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete. Padam Bahadur Kunwar, divisional engineer of the Melamchi Water Supply Development Board informed that they are preparing to supply water to the Kathmandu Valley by mid-April temporarily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the Chinese contractor Sino Hydro has already completed 60 percent of the work of clearing off the river debris with the help of the Nepalese Army.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kunwar informed that the repair work has reached the final stage as only gates 1, 9 and 38 of Melamchi river will be used to supply water to Kathmandu temporarily. As there occurs some technical glitches on hydraulic systems in gate number 38, its maintenance is also underway, he further shared. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board says that water can be supplied to Kathmandu by mid-April as the clearing of flood and landslide debris at the source of water is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has been a decades-long dream of Kathmandu denizens to have access to water being supplied from Melamchi. Right when the dream was about to be fulfilled, it got further postponed due to the damage caused by the floods and landslides on June 15. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board aims to distribute 170 million liters of water daily in the Kathmandu Valley by next April. However, Kunwar said that the tunnel would have to be shut down for another four months as soon as it starts raining.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He shared that the Asian Development Bank is also carrying out a study on landslide prevention and control in the project site. Stating that 60,000 metric tons of debris has been removed from the tunnel, he said blasting-related task has also come to a final stage. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14654', 'image' => '20220311030754_ETShVBWUcAALuqj.jpg', 'article_date' => '2022-03-11 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14911', 'article_category_id' => '1', 'title' => 'Nepal-China Interstate Transmission Line to cost Rs 10 billion on Nepal’s Side', 'sub_title' => '', 'summary' => 'March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. A team from the Nepal Electricity Authority (NEA) had studied the feasibility of the transmission line to be built in the Nepal section. The team has studied and submitted its report to the NEA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chief of Nepal-China Interstate Transmission Line Project Komal Nath Atreya confirmed that the feasibility study of the project has been completed. The study also showed that it is possible to build a Nepal-China interstate transmission line.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The study has shown the possibility of a transmission line. The work of Environmental Impact Assessment and Detailed Project Report (DPR) is now underway,” he said. The Environmental Impact Assessment will start from the first week of April, and the NEA will make the DPR jointly with China. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the work of environmental impact assessment will be completed within seven months. For the DPR, an agreement between China and Nepal will be signed this month (March).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line of the Nepal section will be of a 400 kV circuit, it will have 207 towers, which will cost Rs 10 billion to build, said Atreya. He said that the length of the transmission line in Nepal will be of 70 kilometers. The total length of the transmission line will be 149 kilometers. On the Chinese side, the length of the transmission line will be 79 kilometers. After the operation, the transmission line will import and export 3,000 MW of electricity between Nepal and China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The study suggests that the transmission line of the Nepal section can be made through two different routes. It has been stated that a transmission line can be constructed from Ratmate to Kerung through Chileme Hub. Similarly, the study has also suggested that a transmission line can be constructed from Ratmate to Kerung via Langtang National Park.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the transmission line from Chilime Hub will cost more. However, technically, it seems to be appropriate to build a transmission line from this route. However, the construction of a transmission line passing through a national park, even if it is easy, is not suitable. Therefore, there is a plan to build a transmission line from the route of Chilime Hub, said Atreya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China is also working to build transmission lines in some parts of its territory. Convert station will be built in Kerung (towards China). It will then be connected to a substation in Jirong County, China, within 79 kilometers of Kerung trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line will be connected to the substation to be built under the MCC project in Ratmate. The proposed substation at Ratmate will be connected to all the transmission systems of Nepal. It will also have connections to the international transmission line to India. In such case, Nepal can become a transit point for trilateral electricity trade between Nepal, India, and China, the study shows.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14653', 'image' => '20220311025357_Transmission.jpg', 'article_date' => '2022-03-11 14:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14910', 'article_category_id' => '1', 'title' => 'Finance Minister Tells Investment Board to Creating its Own Fund for Big Projects', 'sub_title' => '', 'summary' => 'March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He made such remark during the seventh meeting of the Monitoring and Facilitation Committee of the IBN on Thursday (March 10). Speaking on the occasion, Minister Sharma said that the ministry is ready to provide necessary support if the board moves ahead for capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The board’s nature is to wait for investment and then act according to the demands of the investors. This nature of work will not be acceptable anymore,” said Minister Sharma, adding, "IBN should pay attention to investing in big projects by creating capital of its own. We can discuss how we can help set up such fund." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma, who is also the vice-chairperson of the board, advised the IBN to build capital fund for export-oriented projects by holding discussion with the private sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He urged the IBN to take initiative for the investment in projects capable of contributing significantly to the gross domestic project (GDP) and capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the Investment Board had presented work progress of Arun III Hydropower Project and its subordinate projects, Logistic Project, Kaptad Integrated Tourism Development Programme, Tamor Water Reservoir Hydropower Project, Upper Marsyangdi Hydropower Project, Vehicle Manufacturing and Assembling Plant and Huaxin Cement Project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Finance Minister Sharma expressed dissatisfaction over the non-implementation of Investment Board's decision of providing one-stop service to large foreign investors. He was of the view that all foreign investors must be treated equally. The Finance Minister insisted on doing away with the conventional development approach and moving ahead with new perspectives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">IBN Chief Executive Officer Sushil Bhatta highlighted the need of a policy-level decision to come up with special provisions regarding the selection of site for the construction of production-based industries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that although they received a proposal for establishing an automotive industry from a South Korean company, the project could not progress ahead due to the site selection issue. “Therefore, special provisions through policy-level decision are needed to establish industries through the board,” he concluded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14652', 'image' => '20220311125832_fin min sharma.jpg', 'article_date' => '2022-03-11 12:57:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14909', 'article_category_id' => '1', 'title' => 'Promotion of Small Industries Vital for Economic Stability: PM Deuba', 'sub_title' => '', 'summary' => 'March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prime minister was of the view that the country’s development cannot be realized unless such industries are promoted and developed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the 25th National General Convention of Nepal Federation of Small and Cottage Industries in Birgunj on Thursday, PM Deuba said that the government is ready to facilitate the development of small and cottage industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PM Deuba added that the government would take initiative to elevate the status of the small and cottage industries in the country which have been severely affected by the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic prosperity is possible only through sustainable development,” said PM Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to PM Deuba, the government is committed to revitalize the economy that has been battered by the Covid-19 crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There is no option but to step up national production to reduce the trade deficit,” he said, adding government is committed to promoting private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also stressed the need for collaboration between the federal, provincial and local levels to create employment opportunities for hundreds of thousands Nepalis within the country and to contribute to the gross domestic production. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14651', 'image' => '20220311115453_BKM_PARSA_PMDEUBA.jpg', 'article_date' => '2022-03-11 11:53:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14908', 'article_category_id' => '1', 'title' => 'Government Unable to Claim Rs 24 Billion from Donors due to its Own Weaknesses', 'sub_title' => '', 'summary' => 'March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. According to the Financial Comptroller General’s Office, the government is yet to receive almost Rs 25 billion pledged by the donors due to the incompetence of its mechanism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-February in the current fiscal year, the government is yet to receive refunds worth Rs 11.56 billion in grants and Rs 12.36 billion in loans from the donor agencies. The date of the Financial Comptroller General’s Office show that the government is yet to claim refunds of Rs 23.93 billion in total in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision for the government to seek refund from the donors and keep a record of the due amount. The government itself has to bear the cost of development projects built with donors’ assistance and later claim the refund from the donors. The amount refunded by the donors is deposited in the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Financial Comptroller General’s Office, the Ministry of Finance is yet to collect the maximum amount from the donors among all government bodies. It is yet to receive refund of Rs 15.91 billion. Likewise, the provincial governments are also yet to get refund of Rs 6.17 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision to reclaim the amount from the donors by filling up a form not later than 45 days. Those who do not seek the refund is subject to punishment, according to the work procedure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Looking at the figures of the last five years, there seems to have been an improvement in collection of dues from the donors. In fiscal year 2073/74, the government was yet to collect Rs 42.95 billion from the donors but this year such amount is Rs 23.93 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The donor agencies release the funds on the basis of the actual expenses incurred in the projects. However, they have been reluctant to release the amount because the government bodies do not show the actual expenses. However, there has been some improvement in such trend, says Deputy Financial Comptroller General Navaraj Dhungana.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Assistant Financial Comptroller General Krishna Prasad Acharya says that the situation seems to have improved because the donors provided more than the pledged amount during the Covid-19 pandemic. According to him, the problems in refund has surfaced because the donors were unable to monitor the projects and the works remained stalled resulting in the delay in claiming the refund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former secretary Kishor Thapa says that the government does not make the claims with audit report on time after the completion of the projects. Another problem, according to Thapa, is the appointment of new project chiefs frequently for development projects and the delay in completion of works. </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14650', 'image' => '20220310062541_BidKIr1CAAEJcjw.jpg', 'article_date' => '2022-03-10 18:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14907', 'article_category_id' => '1', 'title' => 'Government and NRB ‘Responsible’ for Liquidity Crisis ', 'sub_title' => '', 'summary' => 'March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at a program titled 'BizTalk' organised at Morang Trade Association on Tuesday, economist Dr Bhesh Prasad Dhamala said that the government was responsible for the brain drain which in turn was affecting production due to lack of manpower. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The rise in bank’s interest rates has affected production adversely," he said, adding, "The economic prosperity of the country cannot be achieved by forcing the country's skilled human resources to search for greener pastures abroad." He emphasized the need to reduce taxes and to discourage tax increment under new headings if the government is to keep the economy afloat. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Professor Dr PK Jha remarked that Nepal's economic policy is becoming tougher. Stating that most of the allocated budget is spent in unproductive sector, he opined that the government must step up investment in productive sector. Furthermore, he said that NRB was also to blame for the liquidity crisis in the market. Stating that entrepreneurship is the backbone of sustainable development, he said that entrepreneurship should be institutionalized using new technologies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The budget cannot be implemented in the right place just by shouting slogans, the budget must be fully implemented for the purpose it was announced," he said. Moreover, Dr Jha said that although the government was aware of the current situation of the industry, trade and business sector, it hasn’t done any concrete work for their revival. He stressed on the need for the government to formulate policies for the development of entrepreneurship in the interest of industrialists and traders. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Another economist Professor Dr Bedraj Acharya said that priority should be given to the use of raw materials based on local resources in order to utilize domestic funds within the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14649', 'image' => '20220310042841_1646860563.5.jpg', 'article_date' => '2022-03-10 16:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14905', 'article_category_id' => '1', 'title' => 'Price of Eggs Goes Up', 'sub_title' => '', 'summary' => 'March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). ', '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"">March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). The price of eggs has now increased to Rs 395 per crate for big-sized eggs and Rs 365 per crate for medium-sized eggs. Earlier, the price of big-sized egg was Rs 365 per crate and the price of medium-sized eggs was Rs 335 per crate. According to the increased price, the factory price per egg is Rs 13.16 but the consumer price has been fixed at Rs 16 per piece.</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 rising price of eggs consumed on a daily basis has benefited middlemen and traders more than the poultry farmers. Even though the price has gone up, the amount received by the farmers is only Rs 13.16 per egg. The consumer price has been fixed at Rs 16 by adding the transportation charge. </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"">Although the association has fixed the new retail price of Rs 16, the traders were found charging up to Rs 17 from the consumers when the gate price of eggs was Rs 12.16. Now that the association has set the consumer price at Rs 16, traders can charge consumers between Rs 18 to Rs 19.</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"">Chairman of the Nepal Egg Producers' Association Shivaram KC said that the price received by the farmers was not much more than their production cost. According to him, if the price is to be adjusted in such a way that the poultry farmers can make a profit, then the gate price of egg should be raised to Rs 15 which would increase the price of eggs to Rs 450 per crate.</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"">According to the association, the demand for eggs has increased in Nepal recently and the price had to be increased due to the decline in production. Apart from this, the association has said that the rise in price of raw material for poultry feed has affected the price of eggs. </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"">Earlier, 3.8 million eggs were produced per day in Nepal, but now the production has been reduced to 3.4 million, according to the association. Due to the increase in the price of grains, most of the farmers have not been able to raise chickens. The decline in poultry farming has led to a decline in production of eggs.</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 price of soybean, the main raw material of poultry feed, has gone up by Rs 55 per kg and maize by Rs 10 per kg in a year. Recently, Chinese businessmen have increased their consumption of raw materials including soybeans, which has led to shortage in other countries. Rabin Puri, president of the Grain Industries Association, said that the price may have gone up due to the same reason.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14648', 'image' => '20220310025726_egg.jpg', 'article_date' => '2022-03-10 14:56:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14906', 'article_category_id' => '1', 'title' => 'Entrepreneur Hira Lal Kedia No More', 'sub_title' => '', 'summary' => 'March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87. He died while undergoing treatment at HAMS Hospital in Kathmandu on Tuesday night, according to his nephew Pradip Kedia. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Kedia, who had been suffering from diabetes since a long time, was recently been diagnosed with pneumonia. Family members have stated that he died due to pneumonia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Late Kedia's body was brought to his hometown Birgunj on Wednesday. Nephew Pradip Kedia informed that the last rights of the dead body was to be performed in Bagmati of Sarlahi district on Wednesday (March 9) itself. Hira Lal Kedia had been leading the Kedia Organisation after the death of Shankar Lal Kedia, the founder of the business group.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from business, late Kedia was also active in social works. Social organizations and the state have also given various honors to Kedia for his contribution in the field of industry, trade and social services.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14647', 'image' => '20220310031230_17y - Copy.jpg', 'article_date' => '2022-03-10 15:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14904', 'article_category_id' => '1', 'title' => 'Price of Gold Drops by Rs 3,500 per 11 Grams Today', 'sub_title' => '', 'summary' => 'March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has been adjusted at Rs 102,000 on Thursday. The precious yellow metal was traded for Rs 105,500 per tola on Wednesday, which was an all-time highest price in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation the price of silver has decreased by Rs 45 per tola on Thursday as compared to the previous trading day. Silver is being traded for Rs 1,405 per tola as of March 10, stated the federation’s website. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14646', 'image' => '20220310011833_gold.jpg', 'article_date' => '2022-03-10 13:16:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department registered the writ petition at the High Court Patan on Friday (March 11) demanding clearance of over Rs 7.436 billion from the Balaju-based company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case was filed against the board of directors of Bottlers' Nepal, its managing director and 17 authorized persons mainly responsible for financial transaction and audit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charge sheet has noted that the company was involved in evading tax by not completing the process on payment of capital gains tax. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14660', 'image' => '20220313012008_tax-evasionn.jpg', 'article_date' => '2022-03-13 13:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14918', 'article_category_id' => '1', 'title' => 'Federation of Nepal Cottage and Small Industries gets New Leadership', 'sub_title' => '', 'summary' => 'March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to this, Singh has already taken upon the roles of senior vice president, founding member, acting president and other responsibilities of the federation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Bahadur Kandel has been selected as the senior vice president of the association by the 25th National General Convention of the federation and the 22nd National Women Entrepreneurs Conference organized in Birgunj.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Purna Bahadur Bhandari from small enterprise, Prakash Rawal from small industries, Chandan Krishna Shrestha from small industries, Mukesh Upadhyay from international relations, Shova Gurung from women’s quota, Mohan Katuwal from commodities, Shanta Baskota Koirala from associates, Satya Narayan Prajapati from cooperatives, Harihar Thapa from agriculture and Rajendra Man Shrestha from tourism have been selected as vice presidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Moreover, the federation informed that Dambar Prasad Regmi has been elected as general secretary, Achyut Pandey as treasurer, and Deepak Bahadur Budha as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the deputy treasurers include Bhesh Raj Pandey (cooperative), Mahendra Bahadur Chitrakar (commodity), Rudra Prasad Neupane (associate), and Gyan Bahadur Khadka alongside 80 new members.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A new executive committee of the women entrepreneur committee of the federation has been elected under the chairmanship of Roshni Upadhyaya. The committee consists of 14 members which includes Rita Awal as senior vice president, Krishna Kumari Pathak as vice president for business, Tara Acharya as vice president for organization, Dr Soni Mahato as general secretary, Meena Tamang as treasurer, and Deepa Shakya as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Newly elected chairperson Singh said that she would work for the rights and interests of small, home-based and small-scale industrialists while upholding the dignity of the federation.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14659', 'image' => '20220313043305_17629812_1215515445183982_5951300167011014903_n.jpg', 'article_date' => '2022-03-13 16:32:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14916', 'article_category_id' => '1', 'title' => 'China Agrees to Increase Trade Volume with Nepal', 'sub_title' => '', 'summary' => 'March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. According to the District Administration Office, Rasuwa, the two sides reached an agreement to increase the supply of Chinese goods during a recent virtual meeting between the border officials of Rasuwa and Jilung Province in Kerung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such initiative was taken by the Chief District Officer of Rasuwa Nawaraj Jaisi, who urged his Chinese counterparts to meet the demand of the Nepalese market as Covid-19 cases have declined significantly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CDO Jaisi reportedly said that the two countries have agreed to allow 14 containers carrying goods into Rasuwagadhi on a daily basis soon. Currently, nine containers of goods are being imported into Nepal every day from this customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali importers and businessmen are said to be happy with the decision to increase the volume of goods from China, the state-owned national news agency RSS reported.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14658', 'image' => '20220313113823_Nepal-china-trade.jpg', 'article_date' => '2022-03-13 11:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14915', 'article_category_id' => '1', 'title' => 'Most of the Macroconomic Indicators Negative: NRB Report', 'sub_title' => '', 'summary' => 'March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. The Current Macroeconomic and Financial Situation Report of the first seven months of FY 2021/22 published by Nepal Rastra Bank (NRB) on Friday shows that majority of the indicators are negative.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s imports in the first seven months of the current fiscal year stands at Rs 1147 billion which is an increase of 42.8 percent compared to the corresponding period of the last fiscal year. Nepal’s imports had increased by 0.1 percent during the corresponding period of last year, according to the NRB report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economists say that the people will ultimately have to bear the consequences as Nepal’s economy is driven by imports. Economist Dr Resham Thapa says that the country’s overall economy is slipping behind.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“All the economic indicators of the last seven months are negative,” said Thapa, adding, “This will directly impact the general public. Inflation is also more than last year. The indicators clearly show that inflation is going to further rise in the near future.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank’s report, Gross foreign exchange reserves decreased 16.2 percent to Rs 1173.02 billion in mid-February 2022 from Rs 1399.03 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s foreign exchange reserves are enough for imports of goods and services for the next six months. However, economists argue that the country’s foreign exchange reserves are not what they seem to be due to the increase in prices of gold, petroleum products and the rate of US dollars. Thapa argues that Nepal has failed to capitalize on the rise in US dollar because its economy is import-oriented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 17.7 percent to Rs 1024.60 billion in mid-February 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 3.9 percent to Rs 148.42 billion in mid-February 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 24.2 percent in mid-February 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Balance of Payments (BOP) remained at a deficit of Rs 247.03 billion in the review period against a surplus of Rs 97.36 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inflow of remittance decreased 4.9 percent to Rs 540.12 billion in the review period against an increase of 10.9 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The year-on-year consumer price inflation stood at 5.97 percent in the seventh month of FY 2021/22 compared to 2.70 percent a year ago. Food and beverage inflation stood at 6.00 percent whereas non-food and service inflation stood at 5.96 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current account remained at a deficit of Rs 413.86 billion in the review period compared to a deficit of Rs 104.39 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts argue that the impact of Russia-Ukraine war that broke on February 24 has already affected Nepal’s market but the central bank’s report does not show the impact of war.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14657', 'image' => '20220311064519_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-11 18:44:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14913', 'article_category_id' => '1', 'title' => 'Concept of Fertiliser Plant Limited to Papers', 'sub_title' => '', 'summary' => 'March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years. With Nepal consuming 750,000 to 800,000 metric tons of fertiliser every year, it is said that the fertiliser coming from India will be insufficient.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has been importing fertiliser from different countries since many years. However, farmers are always suffering due to the scarcity of the fertiliser. Although it is necessary to establish a chemical fertiliser factory in the country, no work has been done in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has plans to set up a factory in the country. However, all the plans are limited to paper works. A study conducted by the Government of Nepal suggests that Rs 130 billion is required initially to set up the factory and an additional investment of Rs 22.13 billion is required for operation of the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, chairperson of Seed Entrepreneurs’ Association of Nepal (SEAN) said that once the factory is established, Nepal will require around Rs 100 billion budget to produce 840 metric tons of fertilisers on a daily basis. Nepal has not been able to manage natural gas, which is the most important requirement for the production of fertiliser. He is of the view that before establishing the factory, the government should plan for the regular supply of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the study by the Investment Board Nepal, around 550 megawatts of electricity is required if electricity is used instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Joint Secretary at the Ministry of Agriculture and Livestock Development Prakash Kumar Sanjel, says that the topic of establishing such factory is a complex issue at the moment as the regular supply of gas is required.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He estimates that it will take at least five years to open the factory as the government is conducting study at the moment. However, he said that establishing the factory is an excellent alternative to end the dependency of the country on neighboring countries for fertilizer. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14656', 'image' => '20220311060319_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2022-03-11 18:00:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14914', 'article_category_id' => '1', 'title' => 'Japan Provides Grant Assistance for Improvement of Water Supply in Biratnagar ', 'sub_title' => '', 'summary' => 'March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan’s Ambassador to Nepal, Kikuta Yutaka, and Secretary at the Ministry of Finance, Madhu Kumar Marasini, signed notes to this effect on March 10. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another Grant Agreement for implementing the project was signed by Chief Representative of JICA Nepal, Okubo Akimitsu, and Joint Secretary at the International Economic Cooperation and Coordination Division of the Ministry of Finance, Ishwori Prasad Aryal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project aims to enhance the living standard for the people of Biratnagar City by renovating and expanding the water supply facilities, thereby broadening the water supply area in Biratnagar City. At present, people in Biratnagar have to depend on shallow wells to get water for daily household use and have been affected by shortage of safe drinking water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project will contribute to improving “access to stable supply of water” for about 100,000 people by constructing new deep wells and water purification facilities. Furthermore, some of the existing facilities would also be renovated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ambassador Kikuta stated that the Government of Japan has been providing multifaceted assistance for the betterment of the living standard of Nepali citizens, adding that Japan extended multiple support, including timely vaccine support to prevent and control the COVID-19. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Japan has extended financial support for economic stabilization and development of post COVID-19 Nepal in January. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This time, our assistance is providing safe water which is of vital importance for human life,” Ambassador Kikuta further said adding that this support would be effectively utilized to upgrade living standards in Biratnagar city. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Japan is committed to extending all possible assistance to Nepal in its endeavor for nation building and strengthening the friendly relationship between the peoples of Japan and Nepal," the Japanese Ambassador</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Secretary Marasini on the behalf of the Government of Nepal thanked the Japanese government for its continued support in Nepal's socio-economic development endeavours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14655', 'image' => '20220311061622_1646947747.Clipboard07.jpg', 'article_date' => '2022-03-11 18:15:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14912', 'article_category_id' => '1', 'title' => 'Maintenance of Flood-Ravaged Melamchi Project 60 Percent Complete', 'sub_title' => '', 'summary' => 'March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete. Padam Bahadur Kunwar, divisional engineer of the Melamchi Water Supply Development Board informed that they are preparing to supply water to the Kathmandu Valley by mid-April temporarily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the Chinese contractor Sino Hydro has already completed 60 percent of the work of clearing off the river debris with the help of the Nepalese Army.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kunwar informed that the repair work has reached the final stage as only gates 1, 9 and 38 of Melamchi river will be used to supply water to Kathmandu temporarily. As there occurs some technical glitches on hydraulic systems in gate number 38, its maintenance is also underway, he further shared. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board says that water can be supplied to Kathmandu by mid-April as the clearing of flood and landslide debris at the source of water is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has been a decades-long dream of Kathmandu denizens to have access to water being supplied from Melamchi. Right when the dream was about to be fulfilled, it got further postponed due to the damage caused by the floods and landslides on June 15. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board aims to distribute 170 million liters of water daily in the Kathmandu Valley by next April. However, Kunwar said that the tunnel would have to be shut down for another four months as soon as it starts raining.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He shared that the Asian Development Bank is also carrying out a study on landslide prevention and control in the project site. Stating that 60,000 metric tons of debris has been removed from the tunnel, he said blasting-related task has also come to a final stage. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14654', 'image' => '20220311030754_ETShVBWUcAALuqj.jpg', 'article_date' => '2022-03-11 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14911', 'article_category_id' => '1', 'title' => 'Nepal-China Interstate Transmission Line to cost Rs 10 billion on Nepal’s Side', 'sub_title' => '', 'summary' => 'March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. A team from the Nepal Electricity Authority (NEA) had studied the feasibility of the transmission line to be built in the Nepal section. The team has studied and submitted its report to the NEA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chief of Nepal-China Interstate Transmission Line Project Komal Nath Atreya confirmed that the feasibility study of the project has been completed. The study also showed that it is possible to build a Nepal-China interstate transmission line.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The study has shown the possibility of a transmission line. The work of Environmental Impact Assessment and Detailed Project Report (DPR) is now underway,” he said. The Environmental Impact Assessment will start from the first week of April, and the NEA will make the DPR jointly with China. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the work of environmental impact assessment will be completed within seven months. For the DPR, an agreement between China and Nepal will be signed this month (March).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line of the Nepal section will be of a 400 kV circuit, it will have 207 towers, which will cost Rs 10 billion to build, said Atreya. He said that the length of the transmission line in Nepal will be of 70 kilometers. The total length of the transmission line will be 149 kilometers. On the Chinese side, the length of the transmission line will be 79 kilometers. After the operation, the transmission line will import and export 3,000 MW of electricity between Nepal and China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The study suggests that the transmission line of the Nepal section can be made through two different routes. It has been stated that a transmission line can be constructed from Ratmate to Kerung through Chileme Hub. Similarly, the study has also suggested that a transmission line can be constructed from Ratmate to Kerung via Langtang National Park.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the transmission line from Chilime Hub will cost more. However, technically, it seems to be appropriate to build a transmission line from this route. However, the construction of a transmission line passing through a national park, even if it is easy, is not suitable. Therefore, there is a plan to build a transmission line from the route of Chilime Hub, said Atreya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China is also working to build transmission lines in some parts of its territory. Convert station will be built in Kerung (towards China). It will then be connected to a substation in Jirong County, China, within 79 kilometers of Kerung trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line will be connected to the substation to be built under the MCC project in Ratmate. The proposed substation at Ratmate will be connected to all the transmission systems of Nepal. It will also have connections to the international transmission line to India. In such case, Nepal can become a transit point for trilateral electricity trade between Nepal, India, and China, the study shows.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14653', 'image' => '20220311025357_Transmission.jpg', 'article_date' => '2022-03-11 14:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14910', 'article_category_id' => '1', 'title' => 'Finance Minister Tells Investment Board to Creating its Own Fund for Big Projects', 'sub_title' => '', 'summary' => 'March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He made such remark during the seventh meeting of the Monitoring and Facilitation Committee of the IBN on Thursday (March 10). Speaking on the occasion, Minister Sharma said that the ministry is ready to provide necessary support if the board moves ahead for capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The board’s nature is to wait for investment and then act according to the demands of the investors. This nature of work will not be acceptable anymore,” said Minister Sharma, adding, "IBN should pay attention to investing in big projects by creating capital of its own. We can discuss how we can help set up such fund." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma, who is also the vice-chairperson of the board, advised the IBN to build capital fund for export-oriented projects by holding discussion with the private sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He urged the IBN to take initiative for the investment in projects capable of contributing significantly to the gross domestic project (GDP) and capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the Investment Board had presented work progress of Arun III Hydropower Project and its subordinate projects, Logistic Project, Kaptad Integrated Tourism Development Programme, Tamor Water Reservoir Hydropower Project, Upper Marsyangdi Hydropower Project, Vehicle Manufacturing and Assembling Plant and Huaxin Cement Project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Finance Minister Sharma expressed dissatisfaction over the non-implementation of Investment Board's decision of providing one-stop service to large foreign investors. He was of the view that all foreign investors must be treated equally. The Finance Minister insisted on doing away with the conventional development approach and moving ahead with new perspectives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">IBN Chief Executive Officer Sushil Bhatta highlighted the need of a policy-level decision to come up with special provisions regarding the selection of site for the construction of production-based industries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that although they received a proposal for establishing an automotive industry from a South Korean company, the project could not progress ahead due to the site selection issue. “Therefore, special provisions through policy-level decision are needed to establish industries through the board,” he concluded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14652', 'image' => '20220311125832_fin min sharma.jpg', 'article_date' => '2022-03-11 12:57:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14909', 'article_category_id' => '1', 'title' => 'Promotion of Small Industries Vital for Economic Stability: PM Deuba', 'sub_title' => '', 'summary' => 'March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prime minister was of the view that the country’s development cannot be realized unless such industries are promoted and developed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the 25th National General Convention of Nepal Federation of Small and Cottage Industries in Birgunj on Thursday, PM Deuba said that the government is ready to facilitate the development of small and cottage industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PM Deuba added that the government would take initiative to elevate the status of the small and cottage industries in the country which have been severely affected by the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic prosperity is possible only through sustainable development,” said PM Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to PM Deuba, the government is committed to revitalize the economy that has been battered by the Covid-19 crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There is no option but to step up national production to reduce the trade deficit,” he said, adding government is committed to promoting private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also stressed the need for collaboration between the federal, provincial and local levels to create employment opportunities for hundreds of thousands Nepalis within the country and to contribute to the gross domestic production. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14651', 'image' => '20220311115453_BKM_PARSA_PMDEUBA.jpg', 'article_date' => '2022-03-11 11:53:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14908', 'article_category_id' => '1', 'title' => 'Government Unable to Claim Rs 24 Billion from Donors due to its Own Weaknesses', 'sub_title' => '', 'summary' => 'March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. According to the Financial Comptroller General’s Office, the government is yet to receive almost Rs 25 billion pledged by the donors due to the incompetence of its mechanism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-February in the current fiscal year, the government is yet to receive refunds worth Rs 11.56 billion in grants and Rs 12.36 billion in loans from the donor agencies. The date of the Financial Comptroller General’s Office show that the government is yet to claim refunds of Rs 23.93 billion in total in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision for the government to seek refund from the donors and keep a record of the due amount. The government itself has to bear the cost of development projects built with donors’ assistance and later claim the refund from the donors. The amount refunded by the donors is deposited in the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Financial Comptroller General’s Office, the Ministry of Finance is yet to collect the maximum amount from the donors among all government bodies. It is yet to receive refund of Rs 15.91 billion. Likewise, the provincial governments are also yet to get refund of Rs 6.17 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision to reclaim the amount from the donors by filling up a form not later than 45 days. Those who do not seek the refund is subject to punishment, according to the work procedure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Looking at the figures of the last five years, there seems to have been an improvement in collection of dues from the donors. In fiscal year 2073/74, the government was yet to collect Rs 42.95 billion from the donors but this year such amount is Rs 23.93 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The donor agencies release the funds on the basis of the actual expenses incurred in the projects. However, they have been reluctant to release the amount because the government bodies do not show the actual expenses. However, there has been some improvement in such trend, says Deputy Financial Comptroller General Navaraj Dhungana.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Assistant Financial Comptroller General Krishna Prasad Acharya says that the situation seems to have improved because the donors provided more than the pledged amount during the Covid-19 pandemic. According to him, the problems in refund has surfaced because the donors were unable to monitor the projects and the works remained stalled resulting in the delay in claiming the refund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former secretary Kishor Thapa says that the government does not make the claims with audit report on time after the completion of the projects. Another problem, according to Thapa, is the appointment of new project chiefs frequently for development projects and the delay in completion of works. </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14650', 'image' => '20220310062541_BidKIr1CAAEJcjw.jpg', 'article_date' => '2022-03-10 18:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14907', 'article_category_id' => '1', 'title' => 'Government and NRB ‘Responsible’ for Liquidity Crisis ', 'sub_title' => '', 'summary' => 'March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at a program titled 'BizTalk' organised at Morang Trade Association on Tuesday, economist Dr Bhesh Prasad Dhamala said that the government was responsible for the brain drain which in turn was affecting production due to lack of manpower. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The rise in bank’s interest rates has affected production adversely," he said, adding, "The economic prosperity of the country cannot be achieved by forcing the country's skilled human resources to search for greener pastures abroad." He emphasized the need to reduce taxes and to discourage tax increment under new headings if the government is to keep the economy afloat. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Professor Dr PK Jha remarked that Nepal's economic policy is becoming tougher. Stating that most of the allocated budget is spent in unproductive sector, he opined that the government must step up investment in productive sector. Furthermore, he said that NRB was also to blame for the liquidity crisis in the market. Stating that entrepreneurship is the backbone of sustainable development, he said that entrepreneurship should be institutionalized using new technologies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The budget cannot be implemented in the right place just by shouting slogans, the budget must be fully implemented for the purpose it was announced," he said. Moreover, Dr Jha said that although the government was aware of the current situation of the industry, trade and business sector, it hasn’t done any concrete work for their revival. He stressed on the need for the government to formulate policies for the development of entrepreneurship in the interest of industrialists and traders. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Another economist Professor Dr Bedraj Acharya said that priority should be given to the use of raw materials based on local resources in order to utilize domestic funds within the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14649', 'image' => '20220310042841_1646860563.5.jpg', 'article_date' => '2022-03-10 16:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14905', 'article_category_id' => '1', 'title' => 'Price of Eggs Goes Up', 'sub_title' => '', 'summary' => 'March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). ', '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"">March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). The price of eggs has now increased to Rs 395 per crate for big-sized eggs and Rs 365 per crate for medium-sized eggs. Earlier, the price of big-sized egg was Rs 365 per crate and the price of medium-sized eggs was Rs 335 per crate. According to the increased price, the factory price per egg is Rs 13.16 but the consumer price has been fixed at Rs 16 per piece.</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 rising price of eggs consumed on a daily basis has benefited middlemen and traders more than the poultry farmers. Even though the price has gone up, the amount received by the farmers is only Rs 13.16 per egg. The consumer price has been fixed at Rs 16 by adding the transportation charge. </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"">Although the association has fixed the new retail price of Rs 16, the traders were found charging up to Rs 17 from the consumers when the gate price of eggs was Rs 12.16. Now that the association has set the consumer price at Rs 16, traders can charge consumers between Rs 18 to Rs 19.</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"">Chairman of the Nepal Egg Producers' Association Shivaram KC said that the price received by the farmers was not much more than their production cost. According to him, if the price is to be adjusted in such a way that the poultry farmers can make a profit, then the gate price of egg should be raised to Rs 15 which would increase the price of eggs to Rs 450 per crate.</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"">According to the association, the demand for eggs has increased in Nepal recently and the price had to be increased due to the decline in production. Apart from this, the association has said that the rise in price of raw material for poultry feed has affected the price of eggs. </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"">Earlier, 3.8 million eggs were produced per day in Nepal, but now the production has been reduced to 3.4 million, according to the association. Due to the increase in the price of grains, most of the farmers have not been able to raise chickens. The decline in poultry farming has led to a decline in production of eggs.</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 price of soybean, the main raw material of poultry feed, has gone up by Rs 55 per kg and maize by Rs 10 per kg in a year. Recently, Chinese businessmen have increased their consumption of raw materials including soybeans, which has led to shortage in other countries. Rabin Puri, president of the Grain Industries Association, said that the price may have gone up due to the same reason.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14648', 'image' => '20220310025726_egg.jpg', 'article_date' => '2022-03-10 14:56:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14906', 'article_category_id' => '1', 'title' => 'Entrepreneur Hira Lal Kedia No More', 'sub_title' => '', 'summary' => 'March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87. He died while undergoing treatment at HAMS Hospital in Kathmandu on Tuesday night, according to his nephew Pradip Kedia. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Kedia, who had been suffering from diabetes since a long time, was recently been diagnosed with pneumonia. Family members have stated that he died due to pneumonia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Late Kedia's body was brought to his hometown Birgunj on Wednesday. Nephew Pradip Kedia informed that the last rights of the dead body was to be performed in Bagmati of Sarlahi district on Wednesday (March 9) itself. Hira Lal Kedia had been leading the Kedia Organisation after the death of Shankar Lal Kedia, the founder of the business group.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from business, late Kedia was also active in social works. Social organizations and the state have also given various honors to Kedia for his contribution in the field of industry, trade and social services.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14647', 'image' => '20220310031230_17y - Copy.jpg', 'article_date' => '2022-03-10 15:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14904', 'article_category_id' => '1', 'title' => 'Price of Gold Drops by Rs 3,500 per 11 Grams Today', 'sub_title' => '', 'summary' => 'March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has been adjusted at Rs 102,000 on Thursday. The precious yellow metal was traded for Rs 105,500 per tola on Wednesday, which was an all-time highest price in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation the price of silver has decreased by Rs 45 per tola on Thursday as compared to the previous trading day. Silver is being traded for Rs 1,405 per tola as of March 10, stated the federation’s website. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14646', 'image' => '20220310011833_gold.jpg', 'article_date' => '2022-03-10 13:16:35', '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
