January 5: The Development and Technology Committee of the House of Representatives has raised concerns over the revision of criteria for the appointment of the managing director of Nepal…
January 5: The Development and Technology Committee of the House of Representatives has raised concerns over the revision of criteria for the appointment of the managing director of Nepal…
January 4: Nepal Oil Corporation (NOC) has been determining the consumer prices of petroleum products after including the costs under 9 different…
January 4: Muktinath Bikas Bank has entered its 16th year of operation. On the occasion of its anniversary, the bank inaugurated 32 branch offices at once from the central office…
January 4: Jitpur-Simara Sub Metropolitan City has launched a campaign to remove the production unit of Jagdamba Steels in the Birgunj-Pathlaiya Industrial…
January 4: Finance Minister and Vice-Chairperson of Investment Board Nepal, Janardan Sharma, on Monday inaugurated the investor desk established at the office of the Investment Board…
January 4: The price of poultry feed has skyrocketed due to increase in the prices of raw materials such as maize, soybeans and feed…
January 4: The shortage of chemical fertilizers, a perennial problem faced by farmers, is not likely to end anytime soon.…
January 4: Nepal Rastra Bank (NRB) has instructed finance institutions with cross-holdings to initiate the process of merger or…
January 4: Nepal Rastra Bank (NRB) has allowed commercial banks dealing with government expenditure to consider 80 percent of the reserve funds of local levels as deposits.…
January 3: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has set Vision 2030 with the objective of supporting the overall development of the country from the banking sector.…
January 3: The work of upgrading Biratnagar Airport to a regional airport has been delayed due to the failure on part of the federal government to release the allocated…
January 3: Secretary at the Ministry of Industry, Commerce, and Supplies Dinesh Bhattarai has admitted that the automatic pricing system introduced for the price adjustment of petroleum products has not been fully implemented.…
January 3: The production of paddy, which is the major crop produced in Nepal, has declined by 8.74 percent this…
January 3: The arrival of tourists in Nepal declined in 2021 compared to the previous year.…
January 3: Farmers across the country have been struggling to get chemical fertilizer during planting season since a long time as a state-owned company has been found involved in financial irregularities while importing chemical fertilizers in collusion with the…
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The new directive has also changed the age limit to 56 years from 58 years. The lawmakers raised questions over the change of criteria exactly one month before the appointment of the managing director.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Lawmakers said that the government cannot change the criteria suddenly with vested interest. Ganesh Pahadi said that the directive was suddenly changed to appoint a particular person the government wanted to. The amended provisions of age limit and experience requirement are testament to it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kalyani Khadka, chairperson of the committee, said that the government should always give priority the employees working in the organization for the top post. Baikuntha Aryal, secretary at the Ministry of Communications and Information Technology, clarified that the criteria has been changed to reduce the age limit so that the appointed person can work for the entire term of four years</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said the appointment process will be done through open competition so it doesn't justify the claims that the employees of the company are being sidelined. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee has directed the government to amend the directive only when it is in the interest of the organization. Minister for Communications Gyanendra Bahadur Karki was summoned to the meeting but he didn't attend it. His absence raised suspicions among the lawmakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee has also directed the government to submit an action plan to make the internet service affordable. Nepal Telecom had submitted an action plan to expand the 4G service to all local levels in the previous fiscal year, but it is yet to expand the service in 43 districts. Pointing to NT's poor performance in infrastructure development, the committee has also directed NT to build the infrastructure recruiting qualified human resources.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-05', 'modified' => '2022-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '14342', 'image' => '20220105123229_Parliament.jpg', 'article_date' => '2022-01-05 12:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14598', 'article_category_id' => '1', 'title' => 'NOC Determines Fuel Price by Including Costs under 9 Different Headings ', 'sub_title' => '', 'summary' => 'January 4: Nepal Oil Corporation (NOC) has been determining the consumer prices of petroleum products after including the costs under 9 different headings.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Nepal Oil Corporation (NOC) has been determining the consumer prices of petroleum products after including the costs under 9 different headings.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the NOC, customs duty, road maintenance and improvement tax, infrastructure development tax, value-added tax (VAT), various other taxes under the heading of environment, transportation cost of tanker from Indian Oil Corporation's depot to NOC depot and insurance expenses, technical loss, corporation's administrative expenses, and dealers' commission among others are added to determine the fuel prices for the consumers.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nagendra Shah, acting deputy executive director of NOC, said that the consumer price is determined only after adding the costs under these headings. NOC has to pay Rs 25 per liter for customs duty on petrol, Rs 4 per liter for road maintenance fee, Rs 10 per liter for infrastructure development tax, Rs 1.36 for price stabilization fund and Rs 1.50 for environment fee. Similarly, value-added tax (VAT) is Rs 15.65. The total taxes that NOC pays for a litre of petrol is Rs 57.73 per liter. Considering the volume of petrol imported, NOC has to pay Rs 680 million per month as </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Likewise, NOC pays Rs 40.41 per liter under the same headings for a litre of diesel. The monthly taxes for diesel is Rs 820 million. Similarly, the NOC has to pay Rs 20.30 for a liter of kerosene or Rs 30 million per month, Rs 40 million per month for aviation fuel, and Rs 2.30 billion per month for cooking gas (LPG).</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NOC has been paying Rs 12 billion to the government. As per the price list of IOC, NOC purchases petrol at Rs 76.48 per litre and adds the taxes of Rs 57.73 and other costs and sells petrol at Rs 136 per litre. Similarly, it distributes diesel at Rs 119 per litre after purchasing it for Rs 73.68 per litre from India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shah argues that the cost incurred by NOC is more than the current market price of petroleum products. He argues that petrol costs Rs 146.50 per litre and diesel Rs 123.545 per litre.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NOC says that the biggest loss is from the sales of cooking gas. The corporation has been incurring a monthly loss of Rs 2.30 billion on cooking gas at the rate of Rs 647 per cylinder.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14341', 'image' => '20220104033329_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2022-01-04 15:32:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14597', 'article_category_id' => '218', 'title' => 'Muktinath Bikas Bank opens 32 branch offices at once', 'sub_title' => '', 'summary' => 'January 4: Muktinath Bikas Bank has entered its 16th year of operation. On the occasion of its anniversary, the bank inaugurated 32 branch offices at once from the central office digitally.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Muktinath Bikas Bank has entered its 16</span><sup><span style="font-family:"Times New Roman","serif"">th</span></sup><span style="font-family:"Times New Roman","serif""> year of operation. On the occasion of its anniversary, the bank inaugurated 32 branch offices at once from the central office digitally.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank has added four branches in Province 1, three branches in Province 2, thirteen branches in Bagmati Province, two branches in Gandaki Province, five branches in Lumbini Province and two branches in Far-Western Province. The chairperson of the bank, Bharatraj Dhakal inaugurated the new branch offices.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chairperson Dhakal informed that Muktinath Bikas Bank has been providing modern banking facilities alongside contributing to the economy of the country through different financial and non-financial services. Current directors, former directors, founding shareholders and senior officials of the bank, and branch managers were present at the inauguration ceremony.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank informed that it organized various programs under corporate social responsibilities in the regional and branch offices of all the seven states. The bank distributed stationery and furniture to schools, food and clothes to various orphanages and old age homes, dustbin to various places, and conducted financial literacy and digital banking literacy programs. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank stated that the regional offices and central offices organized blood donation programs on the occasion. To encourage digital transactions, the bank's ATM card can be used to withdraw money free of charge from any other bank's ATM connected to the Visa network across Nepal.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14340', 'image' => '20220104030943_MNBBL_16.jpg', 'article_date' => '2022-01-04 15:07:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14596', 'article_category_id' => '1', 'title' => 'Conflict between Locals and Industry Increasing along Birgunj-Pathlaiya Industrial Corridor', 'sub_title' => '', 'summary' => 'January 4: Jitpur-Simara Sub Metropolitan City has launched a campaign to remove the production unit of Jagdamba Steels in the Birgunj-Pathlaiya Industrial Corridor.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Jitpur-Simara Sub Metropolitan City has launched a campaign to remove the production unit of Jagdamba Steels in the Birgunj-Pathlaiya Industrial Corridor.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""> Mayor of the sub-metropolis Krishna Poudel has taken such initiative stating that Jagdamba Steels has spread pollution and created risk of accidents among the locals. The locals have protested time and again against the careless attitude of Jagdamba Steels regarding pollution control.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">They claim that due to the industry becoming irresponsible in occupational safety, accidents occur time and again and the locals are at the frontline of risk. Conflicts between the industry and locals in the corridor have escalated greatly.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">An all-party meeting chaired by Mayor Poudel a few days ago after repeated incidents of conflict between the industry and the locals concluded that the kiln to melt scrap iron would not be allowed to operate there. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The industry has been producing billets by melting scrap iron collected from the local market. Initiatives will be taken through the local administration to relocate the kiln’s smelting furnace within a year. The locals have complained that the industry has not complied with its pollution control commitments.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The locals have repeatedly locked the gates of the industry in protest. In the past, the industry had agreed to operate under the control of the local administration. The locals have been saying that the industry has not complied with the agreement as well.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mayor Poudel stated that the risk of accidents has increased as the industry's gas plants are connected to the settlement. An ultimatum has been given to move the gas plant within the main premises of the industry within three months.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A few days ago, a group of locals had entered the industry and vandalized the property saying that the gas plant was leaking. The industry said that it incurred damages worth millions of rupees due to the vandalism.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The locals have complained that the industry has given priority to Indian citizens in employment while putting the locals at risk of pollution and industrial accidents. The all-party meeting has also decided to give priority to locals for employment.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The meeting demanded that the industry should immediately provide regular employment to at least 60 people. According to the industry management, about 1000 workers are directly and indirectly working in various production units of the industrial complex. It has also been demanded to maintain adequate greenery inside and outside the factory for the management of noise and vibration generated during the operation of the industry and for the control of pollution.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The industry has also been accused of encroaching on public land. The meeting has decided to take initiative to conserve such land. The meeting has also asked the company to make parking arrangements in the industrial premises saying that the risk of road accidents has increased while parking the vehicles on the main highway. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14339', 'image' => '20220104025928_1641187747.Gas Jagadamba.jpg', 'article_date' => '2022-01-04 14:58:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14593', 'article_category_id' => '1', 'title' => 'IBN Sets Up Investor Desk', 'sub_title' => '', 'summary' => 'January 4: Finance Minister and Vice-Chairperson of Investment Board Nepal, Janardan Sharma, on Monday inaugurated the investor desk established at the office of the Investment Board Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 4: Finance Minister and Vice-Chairperson of Investment Board Nepal, Janardan Sharma, on Monday inaugurated the investor desk established at the office of the Investment Board Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Details of investment potential as well as projects incorporated in project bank and necessary online services are available at the desk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating the government is committed to create investment-friendly environment in Nepal, Minister Sharma called investors to invest in Nepal without any doubt. He assured that the government is ready to provide facilities as far as the law allows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A press release issued by IBN Spokesperson Surendra Poudel reads that Minister Sharma urged the developers to complete the projects as soon as possible, saying there is immense potential of investment in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urging the developers to inform the government about the problems surfaced in project implementation on time, he said that the investor desk would provide updated information about every aspect of investment in Nepal by providing all necessary information to the investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chief Executive Officer of IBN, Sushil Bhatta, shared that the desk was established with an objective of providing information about investment opportunity in Nepal and making facilitation more effective. He added that the desk would help in providing services from a single point. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14338', 'image' => '20220104122047_20210823044910_MG_3290.jpg', 'article_date' => '2022-01-04 12:19:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14594', 'article_category_id' => '1', 'title' => 'Rise in Prices of Raw Materials Increases Price of Poultry Feed ', 'sub_title' => '', 'summary' => 'January 4: The price of poultry feed has skyrocketed due to increase in the prices of raw materials such as maize, soybeans and feed supplements.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: The price of poultry feed has skyrocketed due to increase in the prices of raw materials such as maize, soybeans and feed supplements. As the price of such commodities has increased in the international market, the price of poultry feed has also increased in the Nepali market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Nepal Grain Industries Association has stated that the price has been increased by Rs 6 per kg. President of the association, Rabin Puri informed that the price of B-0 poultry feed has been fixed at Rs 84 per kg and B-1 at Rs 82 per kg. Accordingly, the price of B-2 grain has been fixed at Rs 80 per kg and B-3 grain at Rs 78 per kg. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, the impact of the Covid-19 pandemic on the world economy has led to increase in the price of all the raw materials used to make poultry feeds as well as vitamins and medicines by 25 to 30 percent. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the last one year, the price of soybean has increased by Rs 55 per kg from Rs 50 per kg to Rs 105 per kg. Likewise, the price of maize has also increased by Rs 10 per kg. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to traders, the recent rise in consumption of raw materials including soybeans by the Chinese traders might have led to a shortage in other countries. About 80 percent of the maize and about 99 percent of the soybean required for grain production in Nepal are imported from countries including the United States, Brazil and India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The price of chicken has also gone up as the price of grains has been steadily rising. Jung Bahadur BC, president of National Meat Entrepreneurs Association said that the price of chicken meat has gone up from Rs 330 per kg to Rs 345 per kg. However, based on the increase in the price of grains, the farmers are of the view that the price of chicken meat should be around Rs 400 per kg. Stakeholders point out that small farmers are most affected by skyrocketing grain prices. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14337', 'image' => '20220104122813_20211007112611_20210803125226_product-jpeg-500x500.jpg', 'article_date' => '2022-01-04 12:27:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14595', 'article_category_id' => '1', 'title' => 'Shortage of Chemical Fertilizers unlikely to be Resolved Soon', 'sub_title' => '', 'summary' => 'January 4: The shortage of chemical fertilizers, a perennial problem faced by farmers, is not likely to end anytime soon. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: The shortage of chemical fertilizers, a perennial problem faced by farmers, is not likely to end anytime soon. The Ministry of Agriculture and Livestock has completed a global tender and purchase agreement, but fertilizers will not be imported soon due to the shortage in the international market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">To resolve the problem of fertilizer shortage which is plaguing the farmers every season, the government has increased the budget allocation significantly this year. However, there has not been enough supply of chemical fertilizers.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the current fiscal year, more than Rs 27 billion has been allocated to procure chemical fertilizers against Rs 12 billion in 2020/21. According to the ministry, 420,000 metric tons of chemical fertilizers were purchased in the previous year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the ministry has increased the budget to purchase fertilizers, it is not an easy task to import the fertilizers. According to the ministry, the volume of fertilizer subsidy has also increased significantly this year compared to last year. The government had provided a subsidy of Rs 29.55 per kg for urea in the last fiscal year while it is providing a subsidy of Rs 100.13 per kg this year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, the government had provided a subsidy of Rs 67.71 per kg last year which has increased to Rs 11.90 per kg. Farmers will get a subsidy of Rs 70.41 per kg this year for Potassium, up from Rs 6.83 per kg. The Agriculture Inputs Company Limited and the Salt Trading Corporation Limited will import and distribute subsidized chemical fertilizers in the current fiscal year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The warehouses of these two companies currently have 10,500 metric tonnes of urea, 1,200 metric tonnes of Diammonium Phosphate (DAP) and about 500 metric tonnes of Potassium in stock. The current stock of fertilisers is not possible to meet the demand in the coming days. In the next three months, the ministry needs to supply at least 75,000 metric tons in the market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although both the companies have completed the procurement process to supply 150,000 metric tonnes of fertilizers in the market, the import process has been halted due to unfavorable circumstances in the international market, said a senior official of the Ministry of Agriculture and Livestock Development (MoALD). Agriculture Minister Mahindra Ray Yadav has expressed commitment to provide fertilizers to the farmers within the next four months.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a press briefing on January 1, he said that the import of fertilizers has been halted due to the shortage in the international market itself. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the MoALD, about 1.2 million tons of chemical fertilizer is required annually. Paddy plantation alone requires 4,48,067 tons of fertilizer, while 311,686 tonnes is needed for maize cultivation and 155,736 tonnes for wheat. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14336', 'image' => '20220104123705_20210526042706_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2022-01-04 12:36:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14592', 'article_category_id' => '1', 'title' => 'Institutions with Cross-Holdings Instructed to go for Merger ', 'sub_title' => '', 'summary' => 'January 4: Nepal Rastra Bank (NRB) has instructed finance institutions with cross-holdings to initiate the process of merger or acquisition.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">January 4: Nepal Rastra Bank (NRB) has instructed finance institutions with cross-holdings to initiate the process of merger or acquisition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Issuing a circular on Monday (January 3), the Department of Bank and Financial institutions of NRB directed the financial institutions willing to go for a merger to submit a plan of action within July 15. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank has directed the institutions having cross holding of shares over 10 percent to opt for merger or acquisition in order to reduce the number of microfinance institutions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The arrangement will be applicable for the microfinance institutions set up by the commercial banks, development banks and finance companies as promoter shareholders. <em>(With inputs from RSS) </em></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14335', 'image' => '20220104114416_20161206024918_merger.jpg', 'article_date' => '2022-01-04 11:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14591', 'article_category_id' => '1', 'title' => 'Banking System to get Cash Flow of 80 Percent from Local Levels' Reserve Fund', 'sub_title' => '', 'summary' => 'January 4: Nepal Rastra Bank (NRB) has allowed commercial banks dealing with government expenditure to consider 80 percent of the reserve funds of local levels as deposits. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">January 4: Nepal Rastra Bank (NRB) has allowed commercial banks dealing with government expenditure to consider 80 percent of the reserve funds of local levels as deposits. However, the concerned banks can consider such funds as deposits only till the end of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank made such arrangements by issuing a circular on Monday, January 3. Prior to this, commercial banks could consider up to 50 percent of the reserve fund as deposits. NRB has increased the ceiling for the current fiscal year. As per the new directive, an additional 30 percent of the reserve fund of local levels will now flow to the banking system. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank issued the new directive taking into consideration the liquidity crunch faced by the banks. Bankers expect this to ease the liquidity crisis to some extent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the instructions of NRB, commercial banks can invest the reserve fund in productive sector. However, they are not allowed to invest the amount from the reserve fund on import and commercial purpose.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The Ministry of Finance had made an arrangement in mid-December allowing commercial banks to mobilize up to 80 percent of the reserve fund of local levels. The central bank has issued a circular on January 3 for the implementation of the arrangement made by the Ministry of Finance. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14334', 'image' => '20220104113330_20220104075732_20210805024909_2021030802161.jpg', 'article_date' => '2022-01-04 11:32:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14589', 'article_category_id' => '1', 'title' => 'CBFIN Unveils Vision 2030', 'sub_title' => '', 'summary' => 'January 3: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has set Vision 2030 with the objective of supporting the overall development of the country from the banking sector. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 3: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has set Vision 2030 with the objective of supporting the overall development of the country from the banking sector. According to CBFIN, the Vision 2030 aims to make the banking sector a major partner in the overall development of the country.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CBFIN conducted a study on the difficulties and challenges of the banking sector. Based on the same study, CBFIN has prepared a report with recommendations for the development of the banking sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The report has been submitted to the Governor of Nepal Rastra Bank, Maha Prasad Adhikari. CBFIN Chairman Pawan Golyan announced during the general assembly of CBFIN on Friday that the report has been submitted to the Governor. The banking sector is contributing in various aspects including increasing economic growth rate, increasing economic activities, increasing GDP, developing the private sector and teaching banking habits, added Golyan.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The banking sector will continue to make such contributions in the days to come. However, CBFIN says that Vision 2030 has been brought to make the banking sector a major driver of economic development.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Vision 2030 envisages building strong infrastructure for risk management, increasing deposits and credit in a balanced and sustainable manner, and developing strong information technology infrastructure. CBFIN aims to have branches and liaison offices of Nepali banks in at least 10 countries by 2030.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> <span style="font-family:"Arial","sans-serif"">Similarly, Vision 2030 also mentions about contributing to the development of the country by giving priority to green financing and small and medium enterprise loans. CBFIN also promotes process automation and paperless banking.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NRB data till 2077 BS shows that 39 percent Nepalis still do not have access to banking. Therefore, the goal is to provide banking access to all Nepalis, promote digital banking, reduce usage of cheques and move towards paperless banking, said CBFIN.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">At present, human life is becoming more difficult from the point of view of a healthy environment due to industrialization, use of plastic products, environmental degradation, increasing urbanization etc.</span> <span style="font-family:"Arial","sans-serif"">Therefore, CBFIN says that a special target has been set for green finance. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The report has also given some suggestions to NRB to solve the problem seen in the banking sector.</span></span></span><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14332', 'image' => '20220103032645_Banks.jpg', 'article_date' => '2022-01-03 15:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14588', 'article_category_id' => '1', 'title' => 'Upgrading Biratnagar Airport Delayed as Federal Government Fails to Release Budget', 'sub_title' => '', 'summary' => 'January 3: The work of upgrading Biratnagar Airport to a regional airport has been delayed due to the failure on part of the federal government to release the allocated budget.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 3: The work of upgrading Biratnagar Airport to a regional airport has been delayed due to the failure on part of the federal government to release the allocated budget. The central government did not release the allocated budget of Rs 8 billion in the fiscal year 2077/78 for upgrading the airport. Due to this, Rs 7 billion to be released by the provincial government and Rs 2 billion by the Biratnagar Metropolitan City were withheld.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">This is the reason why the compensation could not be distributed to the locals whose land has been held for acquisition for the last one and a half years. However, the government of Province 1 and the Biratnagar metropolis are now ready to release the allocated budget. Chief Minister Rajendra Rai and Mayor of the Biratnagar Metropolitan City Bhim Parajuli have reassured that the work of upgrading of Biratnagar Airport will commence after the provincial government and the metropolitan city release the budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Mayor Parajuli said that the Biratnagar Airport will not be relocated out the city under any circumstances. He added that the work of upgrading Biratnagar Airport into a regional airport will be carried out by allocating a budget of Rs 2 billion in the upcoming fiscal year. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Stating that the government has moved ahead with the plan as there is a need for a regional airport, CM Rai said that the state would allocate 40 percent of the budget after the federal government provides 50 percent of the budget. Regarding the inability of Province 1 to reap the expected benefits from the tourism sector despite having five mountains above 8,000 meters, Chief Minister Rai emphasized on the need to make Biratnagar Airport as the base for of ‘mountain flight’.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif""> Mayor of the Biratnagar Metropolitan City, Parajuli expressed commitment that the Biratnagar Metropolitan City would provide 10 percent of the budget if the federal government releases 50 percent budget and the province allocates 40 percent of the budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Biratnagar Airport, established in 1958, is considered to be the oldest airport among the domestic airports. A master plan has been prepared to expand the airport which is 1,500 meters long and 20 meters wide and make it 3,000 meters long and 30 meters wide.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14331', 'image' => '20220103024002_1641167736.Clipboard10.jpg', 'article_date' => '2022-01-03 14:39:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14587', 'article_category_id' => '1', 'title' => 'Supplies Secretary Admits Failure to Implement Automatic Pricing Mechanism of Fuel', 'sub_title' => '', 'summary' => 'January 3: Secretary at the Ministry of Industry, Commerce, and Supplies Dinesh Bhattarai has admitted that the automatic pricing system introduced for the price adjustment of petroleum products has not been fully implemented. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 3: Secretary at the Ministry of Industry, Commerce, and Supplies Dinesh Bhattarai has admitted that the automatic pricing system introduced for the price adjustment of petroleum products has not been fully implemented. Bhattarai made such a remark during an interaction program on 'Easy Supply of Petroleum Products and Automatic Pricing System' held in Kathmandu on Sunday in collaboration between the ministry and the Society of Economic Journalists of Nepal (SEJON).</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 had in September 2014 introduced a policy to adjust the price of petrol, diesel, and other fuel every 15 days in accordance to the international price. As per the policy, the Nepal Oil Corporation (NOC) has been adjusting the fuel price according to the price list sent by the Indian Oil Corporation (IOC) on the 1st and 16th of each month.</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"">Bhattarai said that there is general opposition to the policy for not adjusting the price even if it went down. He said prices were being raised without burdening other dimensions of the economy. "By mobilizing the money in the price stabilization fund, the price of fuel that has gone up for some time can be reduced. Long-term solutions need to be implemented," he said. </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"">Similarly, General Manager of Nepal Oil Corporation Surendra Kumar Poudel said that the implementation of an automatic pricing system would lead to high losses in some cases, and there could be problems due to lack of preparedness. He said that preparations have also been made to mobilize the amount of price stabilization funds.</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"">NOC had set up such a fund to prevent consumers from being overburdened by the automatic pricing system. Rs 15.34 billion has been deposited in this fund.</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"">Poudel also said that the quality of fuel available in Nepal and India is the same. He also informed that a lab is being set up at Sinamangal in Kathmandu for testing the quality of fuel.</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"">Likewise, Nagendra Shah, acting deputy managing director of the NOC, said that the price has gone up due to various taxes levied in Nepal. However, he said that the price of fuel is cheaper in Nepal than in India. Presenting a working paper, he said that the NOC is now at a loss due to cooking gas rather than petrol and diesel. He informed that NOC has incurred a loss of Rs 2.30 billion in cooking gas (LPG) at present.</span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14330', 'image' => '20220103021238_20211030080715_202609_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2022-01-03 14:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14586', 'article_category_id' => '1', 'title' => 'Paddy Production Declines by 8.74 percent ', 'sub_title' => '', 'summary' => 'January 3: The production of paddy, which is the major crop produced in Nepal, has declined by 8.74 percent this year.', '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"">January 3: The production of paddy, which is the major crop produced in Nepal, has declined by 8.74 percent this year. The paddy production has decreased due to the damage caused by the unseasonal rainfall as well as strong winds across the country from October 17 to 20. </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"">Organising a press conference on Sunday, the Ministry of Agriculture and Livestock Development informed that paddy production has declined this year. As per the data collected by the ministry from across the country, the production of paddy in the current fiscal year has been found to be the lowest in the last five years. </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 data provided by the Ministry, 5.62 million metric tons of paddy was produced in 1.47 million hectares of land in the Fiscal Year 2077/78. In the current fiscal year, 5.13 million metric tons of paddy has already been produced in the same area. This is 8.74 percent less than the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, in FY 2074/75, 5.15 million metric tons of paddy was produced. Likewise, the production of paddy in FY 2075/76 was 5.61 million metric tons and 5.55 million metric tons in FY 2076/77. </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"">Spokesperson at the ministry Prakash Kumar Sanjel said that although the area of paddy production has increased by about 4,000 hectares as compared to last FY, productivity has also declined by 9.09 percent due to unseasonal rains and has remained at 3.47 metric tons per hectare. </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 him, the overall national paddy production has declined due to heavy losses in Kailali, Kanchanpur, Bardiya, Banke and Kapilvastu districts of the Far-western and Lumbini province due to unseasonal rains. Paddy production in the Far western Province has declined by 31.49 percent and in Lumbini Province by 18.38 percent. </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 statistics of paddy production shows that the paddy production in other provinces except Gandaki has remained negative as compared to last year. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14329', 'image' => '20220103122426_20210512035550_20181125011444_pady-1024x682.jpg', 'article_date' => '2022-01-03 12:23:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14585', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Declines in 2021 ', 'sub_title' => '', 'summary' => 'January 3: The arrival of tourists in Nepal declined in 2021 compared to the previous year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 3: The arrival of tourists in Nepal declined in 2021 compared to the previous year. According to Nepal Tourism Board (NTB), a total of 150,962 foreign tourists arrived in Nepal during 2021 against the arrival of 230,000 foreign tourists in 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NTB informed that the tourist arrival in 2020 is 25 percent less than the number of tourist visiting Nepal through air and roadways in 2020. The decline in arrival of tourists is largely attributed to restrictions in movements of people in foreign countries and also at home due to the outbreak of the second wave of COVID-19 across the world. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Board's Director Mani Lamicchane shared that over 230,000 foreign tourists had visited Nepal in 2020 while 1.19 million tourists had arrived here in 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Indian tourists constituted the highest number of foreign tourists with 64,673 visitors followed by 22,853 American tourists in 2021. Likewise, 8,680 British nationals, 6,196 Chinese and 5,044 Bangladeshi citizens had visited Nepal during the review period, according to NTB. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14328', 'image' => '20220103082122_20210901125523_Tourist.jpg', 'article_date' => '2022-01-03 08:20:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14584', 'article_category_id' => '1', 'title' => 'Govt Body Involved in Financial irregularities while Importing Fertilizer: CIAA', 'sub_title' => '', 'summary' => 'January 3: Farmers across the country have been struggling to get chemical fertilizer during planting season since a long time as a state-owned company has been found involved in financial irregularities while importing chemical fertilizers in collusion with the suppliers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 3: Farmers across the country have been struggling to get chemical fertilizer during planting season since a long time as a state-owned company has been found involved in financial irregularities while importing chemical fertilizers in collusion with the suppliers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Agriculture Inputs Company Ltd is the authorized government body to supply fertilizers to the farmers at subsidized rates. But the company itself is involved in irregularities, according to the Commission for the Investigation of Abuse of Authority (CIAA).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a case filed against the company officials by the CIAA, the company was found importing sub standard chemical fertilizers. The CIAA investigation showed that the company under the Ministry of Agriculture and Livestock Development failed to meet the standard criteria while importing Diammonium Phosphate (DAP) fertilizer in the last fiscal year (FY 2020/21). The officials are accused of embezzling a huge amount of money by purchasing sub-standard fertilizer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company had allegedly asked Nepal Environmental and Scientific Service Pvt Ltd to prepare a report against competitive bids, the state-owned national news agency RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the CIAA charge-sheet, the imported chemical fertilizer failed to meet the quality and standard set by quality control and metrology departments of the government. The company also made payment of Rs 1.53 billion by preparing a fake report, the CIAA further accused. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA has filed the case against Managing Director of the Agriculture Inputs Company, Netra Bahadur Bhandari, Manager Bishnu Prasad Pokhrel, Assistant Manager Durga Prasad Pande, Deputy Manager Puskar Dip Budha and has demanded the recovery of Rs 1.53 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, a case has also been filed against the supplier Binit Joshi of Joshi Biz House Pvt at the Special Court demanding recovery of the embezzled amount. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA also filed the cases against Managing Director at Nepal Environmental and Scientific Service Pvt Ltd, Salil Devkota, Lab Director Sunil Babu Khatri and others involved in preparing in fake reports. </span></span></p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14327', 'image' => '20220103081519_CIAA.jpg', 'article_date' => '2022-01-03 08:14:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14600', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Concerned over Revision of Criteria to Appoint MD of Nepal Telecom', 'sub_title' => '', 'summary' => 'January 5: The Development and Technology Committee of the House of Representatives has raised concerns over the revision of criteria for the appointment of the managing director of Nepal Telecom.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 5: The Development and Technology Committee of the House of Representatives has raised concerns over the revision of criteria for the appointment of the managing director of Nepal Telecom.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Communications and Information Technology has amended the directive on appointment of managing director of Nepal Telecom (NT) to select the managing director through open competition.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The amended directive has increased the three-year tenure of Nepal Telecom’s MD to four years, monthly salary from Rs 200,000 to Rs 250,000 in addition to a monthly rent of Rs 60,000. The new directive has also changed the age limit to 56 years from 58 years. The lawmakers raised questions over the change of criteria exactly one month before the appointment of the managing director.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Lawmakers said that the government cannot change the criteria suddenly with vested interest. Ganesh Pahadi said that the directive was suddenly changed to appoint a particular person the government wanted to. The amended provisions of age limit and experience requirement are testament to it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kalyani Khadka, chairperson of the committee, said that the government should always give priority the employees working in the organization for the top post. Baikuntha Aryal, secretary at the Ministry of Communications and Information Technology, clarified that the criteria has been changed to reduce the age limit so that the appointed person can work for the entire term of four years</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said the appointment process will be done through open competition so it doesn't justify the claims that the employees of the company are being sidelined. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee has directed the government to amend the directive only when it is in the interest of the organization. Minister for Communications Gyanendra Bahadur Karki was summoned to the meeting but he didn't attend it. His absence raised suspicions among the lawmakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee has also directed the government to submit an action plan to make the internet service affordable. Nepal Telecom had submitted an action plan to expand the 4G service to all local levels in the previous fiscal year, but it is yet to expand the service in 43 districts. Pointing to NT's poor performance in infrastructure development, the committee has also directed NT to build the infrastructure recruiting qualified human resources.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-05', 'modified' => '2022-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '14342', 'image' => '20220105123229_Parliament.jpg', 'article_date' => '2022-01-05 12:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14598', 'article_category_id' => '1', 'title' => 'NOC Determines Fuel Price by Including Costs under 9 Different Headings ', 'sub_title' => '', 'summary' => 'January 4: Nepal Oil Corporation (NOC) has been determining the consumer prices of petroleum products after including the costs under 9 different headings.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Nepal Oil Corporation (NOC) has been determining the consumer prices of petroleum products after including the costs under 9 different headings.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the NOC, customs duty, road maintenance and improvement tax, infrastructure development tax, value-added tax (VAT), various other taxes under the heading of environment, transportation cost of tanker from Indian Oil Corporation's depot to NOC depot and insurance expenses, technical loss, corporation's administrative expenses, and dealers' commission among others are added to determine the fuel prices for the consumers.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nagendra Shah, acting deputy executive director of NOC, said that the consumer price is determined only after adding the costs under these headings. NOC has to pay Rs 25 per liter for customs duty on petrol, Rs 4 per liter for road maintenance fee, Rs 10 per liter for infrastructure development tax, Rs 1.36 for price stabilization fund and Rs 1.50 for environment fee. Similarly, value-added tax (VAT) is Rs 15.65. The total taxes that NOC pays for a litre of petrol is Rs 57.73 per liter. Considering the volume of petrol imported, NOC has to pay Rs 680 million per month as </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Likewise, NOC pays Rs 40.41 per liter under the same headings for a litre of diesel. The monthly taxes for diesel is Rs 820 million. Similarly, the NOC has to pay Rs 20.30 for a liter of kerosene or Rs 30 million per month, Rs 40 million per month for aviation fuel, and Rs 2.30 billion per month for cooking gas (LPG).</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NOC has been paying Rs 12 billion to the government. As per the price list of IOC, NOC purchases petrol at Rs 76.48 per litre and adds the taxes of Rs 57.73 and other costs and sells petrol at Rs 136 per litre. Similarly, it distributes diesel at Rs 119 per litre after purchasing it for Rs 73.68 per litre from India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shah argues that the cost incurred by NOC is more than the current market price of petroleum products. He argues that petrol costs Rs 146.50 per litre and diesel Rs 123.545 per litre.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NOC says that the biggest loss is from the sales of cooking gas. The corporation has been incurring a monthly loss of Rs 2.30 billion on cooking gas at the rate of Rs 647 per cylinder.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14341', 'image' => '20220104033329_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2022-01-04 15:32:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14597', 'article_category_id' => '218', 'title' => 'Muktinath Bikas Bank opens 32 branch offices at once', 'sub_title' => '', 'summary' => 'January 4: Muktinath Bikas Bank has entered its 16th year of operation. On the occasion of its anniversary, the bank inaugurated 32 branch offices at once from the central office digitally.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Muktinath Bikas Bank has entered its 16</span><sup><span style="font-family:"Times New Roman","serif"">th</span></sup><span style="font-family:"Times New Roman","serif""> year of operation. On the occasion of its anniversary, the bank inaugurated 32 branch offices at once from the central office digitally.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank has added four branches in Province 1, three branches in Province 2, thirteen branches in Bagmati Province, two branches in Gandaki Province, five branches in Lumbini Province and two branches in Far-Western Province. The chairperson of the bank, Bharatraj Dhakal inaugurated the new branch offices.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chairperson Dhakal informed that Muktinath Bikas Bank has been providing modern banking facilities alongside contributing to the economy of the country through different financial and non-financial services. Current directors, former directors, founding shareholders and senior officials of the bank, and branch managers were present at the inauguration ceremony.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank informed that it organized various programs under corporate social responsibilities in the regional and branch offices of all the seven states. The bank distributed stationery and furniture to schools, food and clothes to various orphanages and old age homes, dustbin to various places, and conducted financial literacy and digital banking literacy programs. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank stated that the regional offices and central offices organized blood donation programs on the occasion. To encourage digital transactions, the bank's ATM card can be used to withdraw money free of charge from any other bank's ATM connected to the Visa network across Nepal.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14340', 'image' => '20220104030943_MNBBL_16.jpg', 'article_date' => '2022-01-04 15:07:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14596', 'article_category_id' => '1', 'title' => 'Conflict between Locals and Industry Increasing along Birgunj-Pathlaiya Industrial Corridor', 'sub_title' => '', 'summary' => 'January 4: Jitpur-Simara Sub Metropolitan City has launched a campaign to remove the production unit of Jagdamba Steels in the Birgunj-Pathlaiya Industrial Corridor.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Jitpur-Simara Sub Metropolitan City has launched a campaign to remove the production unit of Jagdamba Steels in the Birgunj-Pathlaiya Industrial Corridor.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""> Mayor of the sub-metropolis Krishna Poudel has taken such initiative stating that Jagdamba Steels has spread pollution and created risk of accidents among the locals. The locals have protested time and again against the careless attitude of Jagdamba Steels regarding pollution control.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">They claim that due to the industry becoming irresponsible in occupational safety, accidents occur time and again and the locals are at the frontline of risk. Conflicts between the industry and locals in the corridor have escalated greatly.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">An all-party meeting chaired by Mayor Poudel a few days ago after repeated incidents of conflict between the industry and the locals concluded that the kiln to melt scrap iron would not be allowed to operate there. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The industry has been producing billets by melting scrap iron collected from the local market. Initiatives will be taken through the local administration to relocate the kiln’s smelting furnace within a year. The locals have complained that the industry has not complied with its pollution control commitments.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The locals have repeatedly locked the gates of the industry in protest. In the past, the industry had agreed to operate under the control of the local administration. The locals have been saying that the industry has not complied with the agreement as well.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mayor Poudel stated that the risk of accidents has increased as the industry's gas plants are connected to the settlement. An ultimatum has been given to move the gas plant within the main premises of the industry within three months.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A few days ago, a group of locals had entered the industry and vandalized the property saying that the gas plant was leaking. The industry said that it incurred damages worth millions of rupees due to the vandalism.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The locals have complained that the industry has given priority to Indian citizens in employment while putting the locals at risk of pollution and industrial accidents. The all-party meeting has also decided to give priority to locals for employment.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The meeting demanded that the industry should immediately provide regular employment to at least 60 people. According to the industry management, about 1000 workers are directly and indirectly working in various production units of the industrial complex. It has also been demanded to maintain adequate greenery inside and outside the factory for the management of noise and vibration generated during the operation of the industry and for the control of pollution.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The industry has also been accused of encroaching on public land. The meeting has decided to take initiative to conserve such land. The meeting has also asked the company to make parking arrangements in the industrial premises saying that the risk of road accidents has increased while parking the vehicles on the main highway. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14339', 'image' => '20220104025928_1641187747.Gas Jagadamba.jpg', 'article_date' => '2022-01-04 14:58:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14593', 'article_category_id' => '1', 'title' => 'IBN Sets Up Investor Desk', 'sub_title' => '', 'summary' => 'January 4: Finance Minister and Vice-Chairperson of Investment Board Nepal, Janardan Sharma, on Monday inaugurated the investor desk established at the office of the Investment Board Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 4: Finance Minister and Vice-Chairperson of Investment Board Nepal, Janardan Sharma, on Monday inaugurated the investor desk established at the office of the Investment Board Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Details of investment potential as well as projects incorporated in project bank and necessary online services are available at the desk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating the government is committed to create investment-friendly environment in Nepal, Minister Sharma called investors to invest in Nepal without any doubt. He assured that the government is ready to provide facilities as far as the law allows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A press release issued by IBN Spokesperson Surendra Poudel reads that Minister Sharma urged the developers to complete the projects as soon as possible, saying there is immense potential of investment in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urging the developers to inform the government about the problems surfaced in project implementation on time, he said that the investor desk would provide updated information about every aspect of investment in Nepal by providing all necessary information to the investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chief Executive Officer of IBN, Sushil Bhatta, shared that the desk was established with an objective of providing information about investment opportunity in Nepal and making facilitation more effective. He added that the desk would help in providing services from a single point. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14338', 'image' => '20220104122047_20210823044910_MG_3290.jpg', 'article_date' => '2022-01-04 12:19:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14594', 'article_category_id' => '1', 'title' => 'Rise in Prices of Raw Materials Increases Price of Poultry Feed ', 'sub_title' => '', 'summary' => 'January 4: The price of poultry feed has skyrocketed due to increase in the prices of raw materials such as maize, soybeans and feed supplements.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: The price of poultry feed has skyrocketed due to increase in the prices of raw materials such as maize, soybeans and feed supplements. As the price of such commodities has increased in the international market, the price of poultry feed has also increased in the Nepali market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Nepal Grain Industries Association has stated that the price has been increased by Rs 6 per kg. President of the association, Rabin Puri informed that the price of B-0 poultry feed has been fixed at Rs 84 per kg and B-1 at Rs 82 per kg. Accordingly, the price of B-2 grain has been fixed at Rs 80 per kg and B-3 grain at Rs 78 per kg. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, the impact of the Covid-19 pandemic on the world economy has led to increase in the price of all the raw materials used to make poultry feeds as well as vitamins and medicines by 25 to 30 percent. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the last one year, the price of soybean has increased by Rs 55 per kg from Rs 50 per kg to Rs 105 per kg. Likewise, the price of maize has also increased by Rs 10 per kg. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to traders, the recent rise in consumption of raw materials including soybeans by the Chinese traders might have led to a shortage in other countries. About 80 percent of the maize and about 99 percent of the soybean required for grain production in Nepal are imported from countries including the United States, Brazil and India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The price of chicken has also gone up as the price of grains has been steadily rising. Jung Bahadur BC, president of National Meat Entrepreneurs Association said that the price of chicken meat has gone up from Rs 330 per kg to Rs 345 per kg. However, based on the increase in the price of grains, the farmers are of the view that the price of chicken meat should be around Rs 400 per kg. Stakeholders point out that small farmers are most affected by skyrocketing grain prices. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14337', 'image' => '20220104122813_20211007112611_20210803125226_product-jpeg-500x500.jpg', 'article_date' => '2022-01-04 12:27:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14595', 'article_category_id' => '1', 'title' => 'Shortage of Chemical Fertilizers unlikely to be Resolved Soon', 'sub_title' => '', 'summary' => 'January 4: The shortage of chemical fertilizers, a perennial problem faced by farmers, is not likely to end anytime soon. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: The shortage of chemical fertilizers, a perennial problem faced by farmers, is not likely to end anytime soon. The Ministry of Agriculture and Livestock has completed a global tender and purchase agreement, but fertilizers will not be imported soon due to the shortage in the international market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">To resolve the problem of fertilizer shortage which is plaguing the farmers every season, the government has increased the budget allocation significantly this year. However, there has not been enough supply of chemical fertilizers.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the current fiscal year, more than Rs 27 billion has been allocated to procure chemical fertilizers against Rs 12 billion in 2020/21. According to the ministry, 420,000 metric tons of chemical fertilizers were purchased in the previous year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the ministry has increased the budget to purchase fertilizers, it is not an easy task to import the fertilizers. According to the ministry, the volume of fertilizer subsidy has also increased significantly this year compared to last year. The government had provided a subsidy of Rs 29.55 per kg for urea in the last fiscal year while it is providing a subsidy of Rs 100.13 per kg this year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, the government had provided a subsidy of Rs 67.71 per kg last year which has increased to Rs 11.90 per kg. Farmers will get a subsidy of Rs 70.41 per kg this year for Potassium, up from Rs 6.83 per kg. The Agriculture Inputs Company Limited and the Salt Trading Corporation Limited will import and distribute subsidized chemical fertilizers in the current fiscal year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The warehouses of these two companies currently have 10,500 metric tonnes of urea, 1,200 metric tonnes of Diammonium Phosphate (DAP) and about 500 metric tonnes of Potassium in stock. The current stock of fertilisers is not possible to meet the demand in the coming days. In the next three months, the ministry needs to supply at least 75,000 metric tons in the market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although both the companies have completed the procurement process to supply 150,000 metric tonnes of fertilizers in the market, the import process has been halted due to unfavorable circumstances in the international market, said a senior official of the Ministry of Agriculture and Livestock Development (MoALD). Agriculture Minister Mahindra Ray Yadav has expressed commitment to provide fertilizers to the farmers within the next four months.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a press briefing on January 1, he said that the import of fertilizers has been halted due to the shortage in the international market itself. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the MoALD, about 1.2 million tons of chemical fertilizer is required annually. Paddy plantation alone requires 4,48,067 tons of fertilizer, while 311,686 tonnes is needed for maize cultivation and 155,736 tonnes for wheat. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14336', 'image' => '20220104123705_20210526042706_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2022-01-04 12:36:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14592', 'article_category_id' => '1', 'title' => 'Institutions with Cross-Holdings Instructed to go for Merger ', 'sub_title' => '', 'summary' => 'January 4: Nepal Rastra Bank (NRB) has instructed finance institutions with cross-holdings to initiate the process of merger or acquisition.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">January 4: Nepal Rastra Bank (NRB) has instructed finance institutions with cross-holdings to initiate the process of merger or acquisition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Issuing a circular on Monday (January 3), the Department of Bank and Financial institutions of NRB directed the financial institutions willing to go for a merger to submit a plan of action within July 15. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank has directed the institutions having cross holding of shares over 10 percent to opt for merger or acquisition in order to reduce the number of microfinance institutions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The arrangement will be applicable for the microfinance institutions set up by the commercial banks, development banks and finance companies as promoter shareholders. <em>(With inputs from RSS) </em></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14335', 'image' => '20220104114416_20161206024918_merger.jpg', 'article_date' => '2022-01-04 11:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14591', 'article_category_id' => '1', 'title' => 'Banking System to get Cash Flow of 80 Percent from Local Levels' Reserve Fund', 'sub_title' => '', 'summary' => 'January 4: Nepal Rastra Bank (NRB) has allowed commercial banks dealing with government expenditure to consider 80 percent of the reserve funds of local levels as deposits. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">January 4: Nepal Rastra Bank (NRB) has allowed commercial banks dealing with government expenditure to consider 80 percent of the reserve funds of local levels as deposits. However, the concerned banks can consider such funds as deposits only till the end of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank made such arrangements by issuing a circular on Monday, January 3. Prior to this, commercial banks could consider up to 50 percent of the reserve fund as deposits. NRB has increased the ceiling for the current fiscal year. As per the new directive, an additional 30 percent of the reserve fund of local levels will now flow to the banking system. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank issued the new directive taking into consideration the liquidity crunch faced by the banks. Bankers expect this to ease the liquidity crisis to some extent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the instructions of NRB, commercial banks can invest the reserve fund in productive sector. However, they are not allowed to invest the amount from the reserve fund on import and commercial purpose.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The Ministry of Finance had made an arrangement in mid-December allowing commercial banks to mobilize up to 80 percent of the reserve fund of local levels. The central bank has issued a circular on January 3 for the implementation of the arrangement made by the Ministry of Finance. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14334', 'image' => '20220104113330_20220104075732_20210805024909_2021030802161.jpg', 'article_date' => '2022-01-04 11:32:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14589', 'article_category_id' => '1', 'title' => 'CBFIN Unveils Vision 2030', 'sub_title' => '', 'summary' => 'January 3: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has set Vision 2030 with the objective of supporting the overall development of the country from the banking sector. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 3: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has set Vision 2030 with the objective of supporting the overall development of the country from the banking sector. According to CBFIN, the Vision 2030 aims to make the banking sector a major partner in the overall development of the country.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CBFIN conducted a study on the difficulties and challenges of the banking sector. Based on the same study, CBFIN has prepared a report with recommendations for the development of the banking sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The report has been submitted to the Governor of Nepal Rastra Bank, Maha Prasad Adhikari. CBFIN Chairman Pawan Golyan announced during the general assembly of CBFIN on Friday that the report has been submitted to the Governor. The banking sector is contributing in various aspects including increasing economic growth rate, increasing economic activities, increasing GDP, developing the private sector and teaching banking habits, added Golyan.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The banking sector will continue to make such contributions in the days to come. However, CBFIN says that Vision 2030 has been brought to make the banking sector a major driver of economic development.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Vision 2030 envisages building strong infrastructure for risk management, increasing deposits and credit in a balanced and sustainable manner, and developing strong information technology infrastructure. CBFIN aims to have branches and liaison offices of Nepali banks in at least 10 countries by 2030.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> <span style="font-family:"Arial","sans-serif"">Similarly, Vision 2030 also mentions about contributing to the development of the country by giving priority to green financing and small and medium enterprise loans. CBFIN also promotes process automation and paperless banking.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NRB data till 2077 BS shows that 39 percent Nepalis still do not have access to banking. Therefore, the goal is to provide banking access to all Nepalis, promote digital banking, reduce usage of cheques and move towards paperless banking, said CBFIN.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">At present, human life is becoming more difficult from the point of view of a healthy environment due to industrialization, use of plastic products, environmental degradation, increasing urbanization etc.</span> <span style="font-family:"Arial","sans-serif"">Therefore, CBFIN says that a special target has been set for green finance. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The report has also given some suggestions to NRB to solve the problem seen in the banking sector.</span></span></span><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14332', 'image' => '20220103032645_Banks.jpg', 'article_date' => '2022-01-03 15:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14588', 'article_category_id' => '1', 'title' => 'Upgrading Biratnagar Airport Delayed as Federal Government Fails to Release Budget', 'sub_title' => '', 'summary' => 'January 3: The work of upgrading Biratnagar Airport to a regional airport has been delayed due to the failure on part of the federal government to release the allocated budget.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 3: The work of upgrading Biratnagar Airport to a regional airport has been delayed due to the failure on part of the federal government to release the allocated budget. The central government did not release the allocated budget of Rs 8 billion in the fiscal year 2077/78 for upgrading the airport. Due to this, Rs 7 billion to be released by the provincial government and Rs 2 billion by the Biratnagar Metropolitan City were withheld.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">This is the reason why the compensation could not be distributed to the locals whose land has been held for acquisition for the last one and a half years. However, the government of Province 1 and the Biratnagar metropolis are now ready to release the allocated budget. Chief Minister Rajendra Rai and Mayor of the Biratnagar Metropolitan City Bhim Parajuli have reassured that the work of upgrading of Biratnagar Airport will commence after the provincial government and the metropolitan city release the budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Mayor Parajuli said that the Biratnagar Airport will not be relocated out the city under any circumstances. He added that the work of upgrading Biratnagar Airport into a regional airport will be carried out by allocating a budget of Rs 2 billion in the upcoming fiscal year. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Stating that the government has moved ahead with the plan as there is a need for a regional airport, CM Rai said that the state would allocate 40 percent of the budget after the federal government provides 50 percent of the budget. Regarding the inability of Province 1 to reap the expected benefits from the tourism sector despite having five mountains above 8,000 meters, Chief Minister Rai emphasized on the need to make Biratnagar Airport as the base for of ‘mountain flight’.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif""> Mayor of the Biratnagar Metropolitan City, Parajuli expressed commitment that the Biratnagar Metropolitan City would provide 10 percent of the budget if the federal government releases 50 percent budget and the province allocates 40 percent of the budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Biratnagar Airport, established in 1958, is considered to be the oldest airport among the domestic airports. A master plan has been prepared to expand the airport which is 1,500 meters long and 20 meters wide and make it 3,000 meters long and 30 meters wide.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14331', 'image' => '20220103024002_1641167736.Clipboard10.jpg', 'article_date' => '2022-01-03 14:39:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14587', 'article_category_id' => '1', 'title' => 'Supplies Secretary Admits Failure to Implement Automatic Pricing Mechanism of Fuel', 'sub_title' => '', 'summary' => 'January 3: Secretary at the Ministry of Industry, Commerce, and Supplies Dinesh Bhattarai has admitted that the automatic pricing system introduced for the price adjustment of petroleum products has not been fully implemented. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 3: Secretary at the Ministry of Industry, Commerce, and Supplies Dinesh Bhattarai has admitted that the automatic pricing system introduced for the price adjustment of petroleum products has not been fully implemented. Bhattarai made such a remark during an interaction program on 'Easy Supply of Petroleum Products and Automatic Pricing System' held in Kathmandu on Sunday in collaboration between the ministry and the Society of Economic Journalists of Nepal (SEJON).</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 had in September 2014 introduced a policy to adjust the price of petrol, diesel, and other fuel every 15 days in accordance to the international price. As per the policy, the Nepal Oil Corporation (NOC) has been adjusting the fuel price according to the price list sent by the Indian Oil Corporation (IOC) on the 1st and 16th of each month.</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"">Bhattarai said that there is general opposition to the policy for not adjusting the price even if it went down. He said prices were being raised without burdening other dimensions of the economy. "By mobilizing the money in the price stabilization fund, the price of fuel that has gone up for some time can be reduced. Long-term solutions need to be implemented," he said. </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"">Similarly, General Manager of Nepal Oil Corporation Surendra Kumar Poudel said that the implementation of an automatic pricing system would lead to high losses in some cases, and there could be problems due to lack of preparedness. He said that preparations have also been made to mobilize the amount of price stabilization funds.</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"">NOC had set up such a fund to prevent consumers from being overburdened by the automatic pricing system. Rs 15.34 billion has been deposited in this fund.</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"">Poudel also said that the quality of fuel available in Nepal and India is the same. He also informed that a lab is being set up at Sinamangal in Kathmandu for testing the quality of fuel.</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"">Likewise, Nagendra Shah, acting deputy managing director of the NOC, said that the price has gone up due to various taxes levied in Nepal. However, he said that the price of fuel is cheaper in Nepal than in India. Presenting a working paper, he said that the NOC is now at a loss due to cooking gas rather than petrol and diesel. He informed that NOC has incurred a loss of Rs 2.30 billion in cooking gas (LPG) at present.</span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14330', 'image' => '20220103021238_20211030080715_202609_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2022-01-03 14:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14586', 'article_category_id' => '1', 'title' => 'Paddy Production Declines by 8.74 percent ', 'sub_title' => '', 'summary' => 'January 3: The production of paddy, which is the major crop produced in Nepal, has declined by 8.74 percent this year.', '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"">January 3: The production of paddy, which is the major crop produced in Nepal, has declined by 8.74 percent this year. The paddy production has decreased due to the damage caused by the unseasonal rainfall as well as strong winds across the country from October 17 to 20. </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"">Organising a press conference on Sunday, the Ministry of Agriculture and Livestock Development informed that paddy production has declined this year. As per the data collected by the ministry from across the country, the production of paddy in the current fiscal year has been found to be the lowest in the last five years. </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 data provided by the Ministry, 5.62 million metric tons of paddy was produced in 1.47 million hectares of land in the Fiscal Year 2077/78. In the current fiscal year, 5.13 million metric tons of paddy has already been produced in the same area. This is 8.74 percent less than the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, in FY 2074/75, 5.15 million metric tons of paddy was produced. Likewise, the production of paddy in FY 2075/76 was 5.61 million metric tons and 5.55 million metric tons in FY 2076/77. </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"">Spokesperson at the ministry Prakash Kumar Sanjel said that although the area of paddy production has increased by about 4,000 hectares as compared to last FY, productivity has also declined by 9.09 percent due to unseasonal rains and has remained at 3.47 metric tons per hectare. </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 him, the overall national paddy production has declined due to heavy losses in Kailali, Kanchanpur, Bardiya, Banke and Kapilvastu districts of the Far-western and Lumbini province due to unseasonal rains. Paddy production in the Far western Province has declined by 31.49 percent and in Lumbini Province by 18.38 percent. </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 statistics of paddy production shows that the paddy production in other provinces except Gandaki has remained negative as compared to last year. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14329', 'image' => '20220103122426_20210512035550_20181125011444_pady-1024x682.jpg', 'article_date' => '2022-01-03 12:23:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14585', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Declines in 2021 ', 'sub_title' => '', 'summary' => 'January 3: The arrival of tourists in Nepal declined in 2021 compared to the previous year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 3: The arrival of tourists in Nepal declined in 2021 compared to the previous year. According to Nepal Tourism Board (NTB), a total of 150,962 foreign tourists arrived in Nepal during 2021 against the arrival of 230,000 foreign tourists in 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NTB informed that the tourist arrival in 2020 is 25 percent less than the number of tourist visiting Nepal through air and roadways in 2020. The decline in arrival of tourists is largely attributed to restrictions in movements of people in foreign countries and also at home due to the outbreak of the second wave of COVID-19 across the world. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Board's Director Mani Lamicchane shared that over 230,000 foreign tourists had visited Nepal in 2020 while 1.19 million tourists had arrived here in 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Indian tourists constituted the highest number of foreign tourists with 64,673 visitors followed by 22,853 American tourists in 2021. Likewise, 8,680 British nationals, 6,196 Chinese and 5,044 Bangladeshi citizens had visited Nepal during the review period, according to NTB. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14328', 'image' => '20220103082122_20210901125523_Tourist.jpg', 'article_date' => '2022-01-03 08:20:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14584', 'article_category_id' => '1', 'title' => 'Govt Body Involved in Financial irregularities while Importing Fertilizer: CIAA', 'sub_title' => '', 'summary' => 'January 3: Farmers across the country have been struggling to get chemical fertilizer during planting season since a long time as a state-owned company has been found involved in financial irregularities while importing chemical fertilizers in collusion with the suppliers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 3: Farmers across the country have been struggling to get chemical fertilizer during planting season since a long time as a state-owned company has been found involved in financial irregularities while importing chemical fertilizers in collusion with the suppliers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Agriculture Inputs Company Ltd is the authorized government body to supply fertilizers to the farmers at subsidized rates. But the company itself is involved in irregularities, according to the Commission for the Investigation of Abuse of Authority (CIAA).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a case filed against the company officials by the CIAA, the company was found importing sub standard chemical fertilizers. The CIAA investigation showed that the company under the Ministry of Agriculture and Livestock Development failed to meet the standard criteria while importing Diammonium Phosphate (DAP) fertilizer in the last fiscal year (FY 2020/21). The officials are accused of embezzling a huge amount of money by purchasing sub-standard fertilizer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company had allegedly asked Nepal Environmental and Scientific Service Pvt Ltd to prepare a report against competitive bids, the state-owned national news agency RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the CIAA charge-sheet, the imported chemical fertilizer failed to meet the quality and standard set by quality control and metrology departments of the government. The company also made payment of Rs 1.53 billion by preparing a fake report, the CIAA further accused. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA has filed the case against Managing Director of the Agriculture Inputs Company, Netra Bahadur Bhandari, Manager Bishnu Prasad Pokhrel, Assistant Manager Durga Prasad Pande, Deputy Manager Puskar Dip Budha and has demanded the recovery of Rs 1.53 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, a case has also been filed against the supplier Binit Joshi of Joshi Biz House Pvt at the Special Court demanding recovery of the embezzled amount. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA also filed the cases against Managing Director at Nepal Environmental and Scientific Service Pvt Ltd, Salil Devkota, Lab Director Sunil Babu Khatri and others involved in preparing in fake reports. </span></span></p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14327', 'image' => '20220103081519_CIAA.jpg', 'article_date' => '2022-01-03 08:14:46', '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' => '14600', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Concerned over Revision of Criteria to Appoint MD of Nepal Telecom', 'sub_title' => '', 'summary' => 'January 5: The Development and Technology Committee of the House of Representatives has raised concerns over the revision of criteria for the appointment of the managing director of Nepal Telecom.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 5: The Development and Technology Committee of the House of Representatives has raised concerns over the revision of criteria for the appointment of the managing director of Nepal Telecom.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Communications and Information Technology has amended the directive on appointment of managing director of Nepal Telecom (NT) to select the managing director through open competition.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The amended directive has increased the three-year tenure of Nepal Telecom’s MD to four years, monthly salary from Rs 200,000 to Rs 250,000 in addition to a monthly rent of Rs 60,000. The new directive has also changed the age limit to 56 years from 58 years. The lawmakers raised questions over the change of criteria exactly one month before the appointment of the managing director.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Lawmakers said that the government cannot change the criteria suddenly with vested interest. Ganesh Pahadi said that the directive was suddenly changed to appoint a particular person the government wanted to. The amended provisions of age limit and experience requirement are testament to it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kalyani Khadka, chairperson of the committee, said that the government should always give priority the employees working in the organization for the top post. Baikuntha Aryal, secretary at the Ministry of Communications and Information Technology, clarified that the criteria has been changed to reduce the age limit so that the appointed person can work for the entire term of four years</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said the appointment process will be done through open competition so it doesn't justify the claims that the employees of the company are being sidelined. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee has directed the government to amend the directive only when it is in the interest of the organization. Minister for Communications Gyanendra Bahadur Karki was summoned to the meeting but he didn't attend it. His absence raised suspicions among the lawmakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee has also directed the government to submit an action plan to make the internet service affordable. Nepal Telecom had submitted an action plan to expand the 4G service to all local levels in the previous fiscal year, but it is yet to expand the service in 43 districts. Pointing to NT's poor performance in infrastructure development, the committee has also directed NT to build the infrastructure recruiting qualified human resources.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-05', 'modified' => '2022-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '14342', 'image' => '20220105123229_Parliament.jpg', 'article_date' => '2022-01-05 12:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14598', 'article_category_id' => '1', 'title' => 'NOC Determines Fuel Price by Including Costs under 9 Different Headings ', 'sub_title' => '', 'summary' => 'January 4: Nepal Oil Corporation (NOC) has been determining the consumer prices of petroleum products after including the costs under 9 different headings.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Nepal Oil Corporation (NOC) has been determining the consumer prices of petroleum products after including the costs under 9 different headings.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the NOC, customs duty, road maintenance and improvement tax, infrastructure development tax, value-added tax (VAT), various other taxes under the heading of environment, transportation cost of tanker from Indian Oil Corporation's depot to NOC depot and insurance expenses, technical loss, corporation's administrative expenses, and dealers' commission among others are added to determine the fuel prices for the consumers.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nagendra Shah, acting deputy executive director of NOC, said that the consumer price is determined only after adding the costs under these headings. NOC has to pay Rs 25 per liter for customs duty on petrol, Rs 4 per liter for road maintenance fee, Rs 10 per liter for infrastructure development tax, Rs 1.36 for price stabilization fund and Rs 1.50 for environment fee. Similarly, value-added tax (VAT) is Rs 15.65. The total taxes that NOC pays for a litre of petrol is Rs 57.73 per liter. Considering the volume of petrol imported, NOC has to pay Rs 680 million per month as </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Likewise, NOC pays Rs 40.41 per liter under the same headings for a litre of diesel. The monthly taxes for diesel is Rs 820 million. Similarly, the NOC has to pay Rs 20.30 for a liter of kerosene or Rs 30 million per month, Rs 40 million per month for aviation fuel, and Rs 2.30 billion per month for cooking gas (LPG).</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NOC has been paying Rs 12 billion to the government. As per the price list of IOC, NOC purchases petrol at Rs 76.48 per litre and adds the taxes of Rs 57.73 and other costs and sells petrol at Rs 136 per litre. Similarly, it distributes diesel at Rs 119 per litre after purchasing it for Rs 73.68 per litre from India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shah argues that the cost incurred by NOC is more than the current market price of petroleum products. He argues that petrol costs Rs 146.50 per litre and diesel Rs 123.545 per litre.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NOC says that the biggest loss is from the sales of cooking gas. The corporation has been incurring a monthly loss of Rs 2.30 billion on cooking gas at the rate of Rs 647 per cylinder.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14341', 'image' => '20220104033329_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2022-01-04 15:32:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14597', 'article_category_id' => '218', 'title' => 'Muktinath Bikas Bank opens 32 branch offices at once', 'sub_title' => '', 'summary' => 'January 4: Muktinath Bikas Bank has entered its 16th year of operation. On the occasion of its anniversary, the bank inaugurated 32 branch offices at once from the central office digitally.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Muktinath Bikas Bank has entered its 16</span><sup><span style="font-family:"Times New Roman","serif"">th</span></sup><span style="font-family:"Times New Roman","serif""> year of operation. On the occasion of its anniversary, the bank inaugurated 32 branch offices at once from the central office digitally.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank has added four branches in Province 1, three branches in Province 2, thirteen branches in Bagmati Province, two branches in Gandaki Province, five branches in Lumbini Province and two branches in Far-Western Province. The chairperson of the bank, Bharatraj Dhakal inaugurated the new branch offices.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chairperson Dhakal informed that Muktinath Bikas Bank has been providing modern banking facilities alongside contributing to the economy of the country through different financial and non-financial services. Current directors, former directors, founding shareholders and senior officials of the bank, and branch managers were present at the inauguration ceremony.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank informed that it organized various programs under corporate social responsibilities in the regional and branch offices of all the seven states. The bank distributed stationery and furniture to schools, food and clothes to various orphanages and old age homes, dustbin to various places, and conducted financial literacy and digital banking literacy programs. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank stated that the regional offices and central offices organized blood donation programs on the occasion. To encourage digital transactions, the bank's ATM card can be used to withdraw money free of charge from any other bank's ATM connected to the Visa network across Nepal.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14340', 'image' => '20220104030943_MNBBL_16.jpg', 'article_date' => '2022-01-04 15:07:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14596', 'article_category_id' => '1', 'title' => 'Conflict between Locals and Industry Increasing along Birgunj-Pathlaiya Industrial Corridor', 'sub_title' => '', 'summary' => 'January 4: Jitpur-Simara Sub Metropolitan City has launched a campaign to remove the production unit of Jagdamba Steels in the Birgunj-Pathlaiya Industrial Corridor.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Jitpur-Simara Sub Metropolitan City has launched a campaign to remove the production unit of Jagdamba Steels in the Birgunj-Pathlaiya Industrial Corridor.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""> Mayor of the sub-metropolis Krishna Poudel has taken such initiative stating that Jagdamba Steels has spread pollution and created risk of accidents among the locals. The locals have protested time and again against the careless attitude of Jagdamba Steels regarding pollution control.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">They claim that due to the industry becoming irresponsible in occupational safety, accidents occur time and again and the locals are at the frontline of risk. Conflicts between the industry and locals in the corridor have escalated greatly.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">An all-party meeting chaired by Mayor Poudel a few days ago after repeated incidents of conflict between the industry and the locals concluded that the kiln to melt scrap iron would not be allowed to operate there. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The industry has been producing billets by melting scrap iron collected from the local market. Initiatives will be taken through the local administration to relocate the kiln’s smelting furnace within a year. The locals have complained that the industry has not complied with its pollution control commitments.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The locals have repeatedly locked the gates of the industry in protest. In the past, the industry had agreed to operate under the control of the local administration. The locals have been saying that the industry has not complied with the agreement as well.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mayor Poudel stated that the risk of accidents has increased as the industry's gas plants are connected to the settlement. An ultimatum has been given to move the gas plant within the main premises of the industry within three months.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A few days ago, a group of locals had entered the industry and vandalized the property saying that the gas plant was leaking. The industry said that it incurred damages worth millions of rupees due to the vandalism.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The locals have complained that the industry has given priority to Indian citizens in employment while putting the locals at risk of pollution and industrial accidents. The all-party meeting has also decided to give priority to locals for employment.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The meeting demanded that the industry should immediately provide regular employment to at least 60 people. According to the industry management, about 1000 workers are directly and indirectly working in various production units of the industrial complex. It has also been demanded to maintain adequate greenery inside and outside the factory for the management of noise and vibration generated during the operation of the industry and for the control of pollution.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The industry has also been accused of encroaching on public land. The meeting has decided to take initiative to conserve such land. The meeting has also asked the company to make parking arrangements in the industrial premises saying that the risk of road accidents has increased while parking the vehicles on the main highway. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14339', 'image' => '20220104025928_1641187747.Gas Jagadamba.jpg', 'article_date' => '2022-01-04 14:58:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14593', 'article_category_id' => '1', 'title' => 'IBN Sets Up Investor Desk', 'sub_title' => '', 'summary' => 'January 4: Finance Minister and Vice-Chairperson of Investment Board Nepal, Janardan Sharma, on Monday inaugurated the investor desk established at the office of the Investment Board Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 4: Finance Minister and Vice-Chairperson of Investment Board Nepal, Janardan Sharma, on Monday inaugurated the investor desk established at the office of the Investment Board Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Details of investment potential as well as projects incorporated in project bank and necessary online services are available at the desk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating the government is committed to create investment-friendly environment in Nepal, Minister Sharma called investors to invest in Nepal without any doubt. He assured that the government is ready to provide facilities as far as the law allows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A press release issued by IBN Spokesperson Surendra Poudel reads that Minister Sharma urged the developers to complete the projects as soon as possible, saying there is immense potential of investment in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urging the developers to inform the government about the problems surfaced in project implementation on time, he said that the investor desk would provide updated information about every aspect of investment in Nepal by providing all necessary information to the investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chief Executive Officer of IBN, Sushil Bhatta, shared that the desk was established with an objective of providing information about investment opportunity in Nepal and making facilitation more effective. He added that the desk would help in providing services from a single point. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14338', 'image' => '20220104122047_20210823044910_MG_3290.jpg', 'article_date' => '2022-01-04 12:19:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14594', 'article_category_id' => '1', 'title' => 'Rise in Prices of Raw Materials Increases Price of Poultry Feed ', 'sub_title' => '', 'summary' => 'January 4: The price of poultry feed has skyrocketed due to increase in the prices of raw materials such as maize, soybeans and feed supplements.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: The price of poultry feed has skyrocketed due to increase in the prices of raw materials such as maize, soybeans and feed supplements. As the price of such commodities has increased in the international market, the price of poultry feed has also increased in the Nepali market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Nepal Grain Industries Association has stated that the price has been increased by Rs 6 per kg. President of the association, Rabin Puri informed that the price of B-0 poultry feed has been fixed at Rs 84 per kg and B-1 at Rs 82 per kg. Accordingly, the price of B-2 grain has been fixed at Rs 80 per kg and B-3 grain at Rs 78 per kg. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, the impact of the Covid-19 pandemic on the world economy has led to increase in the price of all the raw materials used to make poultry feeds as well as vitamins and medicines by 25 to 30 percent. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the last one year, the price of soybean has increased by Rs 55 per kg from Rs 50 per kg to Rs 105 per kg. Likewise, the price of maize has also increased by Rs 10 per kg. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to traders, the recent rise in consumption of raw materials including soybeans by the Chinese traders might have led to a shortage in other countries. About 80 percent of the maize and about 99 percent of the soybean required for grain production in Nepal are imported from countries including the United States, Brazil and India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The price of chicken has also gone up as the price of grains has been steadily rising. Jung Bahadur BC, president of National Meat Entrepreneurs Association said that the price of chicken meat has gone up from Rs 330 per kg to Rs 345 per kg. However, based on the increase in the price of grains, the farmers are of the view that the price of chicken meat should be around Rs 400 per kg. Stakeholders point out that small farmers are most affected by skyrocketing grain prices. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14337', 'image' => '20220104122813_20211007112611_20210803125226_product-jpeg-500x500.jpg', 'article_date' => '2022-01-04 12:27:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14595', 'article_category_id' => '1', 'title' => 'Shortage of Chemical Fertilizers unlikely to be Resolved Soon', 'sub_title' => '', 'summary' => 'January 4: The shortage of chemical fertilizers, a perennial problem faced by farmers, is not likely to end anytime soon. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: The shortage of chemical fertilizers, a perennial problem faced by farmers, is not likely to end anytime soon. The Ministry of Agriculture and Livestock has completed a global tender and purchase agreement, but fertilizers will not be imported soon due to the shortage in the international market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">To resolve the problem of fertilizer shortage which is plaguing the farmers every season, the government has increased the budget allocation significantly this year. However, there has not been enough supply of chemical fertilizers.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the current fiscal year, more than Rs 27 billion has been allocated to procure chemical fertilizers against Rs 12 billion in 2020/21. According to the ministry, 420,000 metric tons of chemical fertilizers were purchased in the previous year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the ministry has increased the budget to purchase fertilizers, it is not an easy task to import the fertilizers. According to the ministry, the volume of fertilizer subsidy has also increased significantly this year compared to last year. The government had provided a subsidy of Rs 29.55 per kg for urea in the last fiscal year while it is providing a subsidy of Rs 100.13 per kg this year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, the government had provided a subsidy of Rs 67.71 per kg last year which has increased to Rs 11.90 per kg. Farmers will get a subsidy of Rs 70.41 per kg this year for Potassium, up from Rs 6.83 per kg. The Agriculture Inputs Company Limited and the Salt Trading Corporation Limited will import and distribute subsidized chemical fertilizers in the current fiscal year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The warehouses of these two companies currently have 10,500 metric tonnes of urea, 1,200 metric tonnes of Diammonium Phosphate (DAP) and about 500 metric tonnes of Potassium in stock. The current stock of fertilisers is not possible to meet the demand in the coming days. In the next three months, the ministry needs to supply at least 75,000 metric tons in the market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although both the companies have completed the procurement process to supply 150,000 metric tonnes of fertilizers in the market, the import process has been halted due to unfavorable circumstances in the international market, said a senior official of the Ministry of Agriculture and Livestock Development (MoALD). Agriculture Minister Mahindra Ray Yadav has expressed commitment to provide fertilizers to the farmers within the next four months.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a press briefing on January 1, he said that the import of fertilizers has been halted due to the shortage in the international market itself. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the MoALD, about 1.2 million tons of chemical fertilizer is required annually. Paddy plantation alone requires 4,48,067 tons of fertilizer, while 311,686 tonnes is needed for maize cultivation and 155,736 tonnes for wheat. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14336', 'image' => '20220104123705_20210526042706_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2022-01-04 12:36:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14592', 'article_category_id' => '1', 'title' => 'Institutions with Cross-Holdings Instructed to go for Merger ', 'sub_title' => '', 'summary' => 'January 4: Nepal Rastra Bank (NRB) has instructed finance institutions with cross-holdings to initiate the process of merger or acquisition.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">January 4: Nepal Rastra Bank (NRB) has instructed finance institutions with cross-holdings to initiate the process of merger or acquisition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Issuing a circular on Monday (January 3), the Department of Bank and Financial institutions of NRB directed the financial institutions willing to go for a merger to submit a plan of action within July 15. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank has directed the institutions having cross holding of shares over 10 percent to opt for merger or acquisition in order to reduce the number of microfinance institutions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The arrangement will be applicable for the microfinance institutions set up by the commercial banks, development banks and finance companies as promoter shareholders. <em>(With inputs from RSS) </em></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14335', 'image' => '20220104114416_20161206024918_merger.jpg', 'article_date' => '2022-01-04 11:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14591', 'article_category_id' => '1', 'title' => 'Banking System to get Cash Flow of 80 Percent from Local Levels' Reserve Fund', 'sub_title' => '', 'summary' => 'January 4: Nepal Rastra Bank (NRB) has allowed commercial banks dealing with government expenditure to consider 80 percent of the reserve funds of local levels as deposits. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">January 4: Nepal Rastra Bank (NRB) has allowed commercial banks dealing with government expenditure to consider 80 percent of the reserve funds of local levels as deposits. However, the concerned banks can consider such funds as deposits only till the end of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank made such arrangements by issuing a circular on Monday, January 3. Prior to this, commercial banks could consider up to 50 percent of the reserve fund as deposits. NRB has increased the ceiling for the current fiscal year. As per the new directive, an additional 30 percent of the reserve fund of local levels will now flow to the banking system. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank issued the new directive taking into consideration the liquidity crunch faced by the banks. Bankers expect this to ease the liquidity crisis to some extent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the instructions of NRB, commercial banks can invest the reserve fund in productive sector. However, they are not allowed to invest the amount from the reserve fund on import and commercial purpose.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The Ministry of Finance had made an arrangement in mid-December allowing commercial banks to mobilize up to 80 percent of the reserve fund of local levels. The central bank has issued a circular on January 3 for the implementation of the arrangement made by the Ministry of Finance. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14334', 'image' => '20220104113330_20220104075732_20210805024909_2021030802161.jpg', 'article_date' => '2022-01-04 11:32:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14589', 'article_category_id' => '1', 'title' => 'CBFIN Unveils Vision 2030', 'sub_title' => '', 'summary' => 'January 3: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has set Vision 2030 with the objective of supporting the overall development of the country from the banking sector. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 3: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has set Vision 2030 with the objective of supporting the overall development of the country from the banking sector. According to CBFIN, the Vision 2030 aims to make the banking sector a major partner in the overall development of the country.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CBFIN conducted a study on the difficulties and challenges of the banking sector. Based on the same study, CBFIN has prepared a report with recommendations for the development of the banking sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The report has been submitted to the Governor of Nepal Rastra Bank, Maha Prasad Adhikari. CBFIN Chairman Pawan Golyan announced during the general assembly of CBFIN on Friday that the report has been submitted to the Governor. The banking sector is contributing in various aspects including increasing economic growth rate, increasing economic activities, increasing GDP, developing the private sector and teaching banking habits, added Golyan.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The banking sector will continue to make such contributions in the days to come. However, CBFIN says that Vision 2030 has been brought to make the banking sector a major driver of economic development.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Vision 2030 envisages building strong infrastructure for risk management, increasing deposits and credit in a balanced and sustainable manner, and developing strong information technology infrastructure. CBFIN aims to have branches and liaison offices of Nepali banks in at least 10 countries by 2030.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> <span style="font-family:"Arial","sans-serif"">Similarly, Vision 2030 also mentions about contributing to the development of the country by giving priority to green financing and small and medium enterprise loans. CBFIN also promotes process automation and paperless banking.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NRB data till 2077 BS shows that 39 percent Nepalis still do not have access to banking. Therefore, the goal is to provide banking access to all Nepalis, promote digital banking, reduce usage of cheques and move towards paperless banking, said CBFIN.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">At present, human life is becoming more difficult from the point of view of a healthy environment due to industrialization, use of plastic products, environmental degradation, increasing urbanization etc.</span> <span style="font-family:"Arial","sans-serif"">Therefore, CBFIN says that a special target has been set for green finance. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The report has also given some suggestions to NRB to solve the problem seen in the banking sector.</span></span></span><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14332', 'image' => '20220103032645_Banks.jpg', 'article_date' => '2022-01-03 15:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14588', 'article_category_id' => '1', 'title' => 'Upgrading Biratnagar Airport Delayed as Federal Government Fails to Release Budget', 'sub_title' => '', 'summary' => 'January 3: The work of upgrading Biratnagar Airport to a regional airport has been delayed due to the failure on part of the federal government to release the allocated budget.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 3: The work of upgrading Biratnagar Airport to a regional airport has been delayed due to the failure on part of the federal government to release the allocated budget. The central government did not release the allocated budget of Rs 8 billion in the fiscal year 2077/78 for upgrading the airport. Due to this, Rs 7 billion to be released by the provincial government and Rs 2 billion by the Biratnagar Metropolitan City were withheld.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">This is the reason why the compensation could not be distributed to the locals whose land has been held for acquisition for the last one and a half years. However, the government of Province 1 and the Biratnagar metropolis are now ready to release the allocated budget. Chief Minister Rajendra Rai and Mayor of the Biratnagar Metropolitan City Bhim Parajuli have reassured that the work of upgrading of Biratnagar Airport will commence after the provincial government and the metropolitan city release the budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Mayor Parajuli said that the Biratnagar Airport will not be relocated out the city under any circumstances. He added that the work of upgrading Biratnagar Airport into a regional airport will be carried out by allocating a budget of Rs 2 billion in the upcoming fiscal year. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Stating that the government has moved ahead with the plan as there is a need for a regional airport, CM Rai said that the state would allocate 40 percent of the budget after the federal government provides 50 percent of the budget. Regarding the inability of Province 1 to reap the expected benefits from the tourism sector despite having five mountains above 8,000 meters, Chief Minister Rai emphasized on the need to make Biratnagar Airport as the base for of ‘mountain flight’.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif""> Mayor of the Biratnagar Metropolitan City, Parajuli expressed commitment that the Biratnagar Metropolitan City would provide 10 percent of the budget if the federal government releases 50 percent budget and the province allocates 40 percent of the budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Biratnagar Airport, established in 1958, is considered to be the oldest airport among the domestic airports. A master plan has been prepared to expand the airport which is 1,500 meters long and 20 meters wide and make it 3,000 meters long and 30 meters wide.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14331', 'image' => '20220103024002_1641167736.Clipboard10.jpg', 'article_date' => '2022-01-03 14:39:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14587', 'article_category_id' => '1', 'title' => 'Supplies Secretary Admits Failure to Implement Automatic Pricing Mechanism of Fuel', 'sub_title' => '', 'summary' => 'January 3: Secretary at the Ministry of Industry, Commerce, and Supplies Dinesh Bhattarai has admitted that the automatic pricing system introduced for the price adjustment of petroleum products has not been fully implemented. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 3: Secretary at the Ministry of Industry, Commerce, and Supplies Dinesh Bhattarai has admitted that the automatic pricing system introduced for the price adjustment of petroleum products has not been fully implemented. Bhattarai made such a remark during an interaction program on 'Easy Supply of Petroleum Products and Automatic Pricing System' held in Kathmandu on Sunday in collaboration between the ministry and the Society of Economic Journalists of Nepal (SEJON).</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 had in September 2014 introduced a policy to adjust the price of petrol, diesel, and other fuel every 15 days in accordance to the international price. As per the policy, the Nepal Oil Corporation (NOC) has been adjusting the fuel price according to the price list sent by the Indian Oil Corporation (IOC) on the 1st and 16th of each month.</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"">Bhattarai said that there is general opposition to the policy for not adjusting the price even if it went down. He said prices were being raised without burdening other dimensions of the economy. "By mobilizing the money in the price stabilization fund, the price of fuel that has gone up for some time can be reduced. Long-term solutions need to be implemented," he said. </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"">Similarly, General Manager of Nepal Oil Corporation Surendra Kumar Poudel said that the implementation of an automatic pricing system would lead to high losses in some cases, and there could be problems due to lack of preparedness. He said that preparations have also been made to mobilize the amount of price stabilization funds.</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"">NOC had set up such a fund to prevent consumers from being overburdened by the automatic pricing system. Rs 15.34 billion has been deposited in this fund.</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"">Poudel also said that the quality of fuel available in Nepal and India is the same. He also informed that a lab is being set up at Sinamangal in Kathmandu for testing the quality of fuel.</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"">Likewise, Nagendra Shah, acting deputy managing director of the NOC, said that the price has gone up due to various taxes levied in Nepal. However, he said that the price of fuel is cheaper in Nepal than in India. Presenting a working paper, he said that the NOC is now at a loss due to cooking gas rather than petrol and diesel. He informed that NOC has incurred a loss of Rs 2.30 billion in cooking gas (LPG) at present.</span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14330', 'image' => '20220103021238_20211030080715_202609_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2022-01-03 14:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14586', 'article_category_id' => '1', 'title' => 'Paddy Production Declines by 8.74 percent ', 'sub_title' => '', 'summary' => 'January 3: The production of paddy, which is the major crop produced in Nepal, has declined by 8.74 percent this year.', '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"">January 3: The production of paddy, which is the major crop produced in Nepal, has declined by 8.74 percent this year. The paddy production has decreased due to the damage caused by the unseasonal rainfall as well as strong winds across the country from October 17 to 20. </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"">Organising a press conference on Sunday, the Ministry of Agriculture and Livestock Development informed that paddy production has declined this year. As per the data collected by the ministry from across the country, the production of paddy in the current fiscal year has been found to be the lowest in the last five years. </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 data provided by the Ministry, 5.62 million metric tons of paddy was produced in 1.47 million hectares of land in the Fiscal Year 2077/78. In the current fiscal year, 5.13 million metric tons of paddy has already been produced in the same area. This is 8.74 percent less than the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, in FY 2074/75, 5.15 million metric tons of paddy was produced. Likewise, the production of paddy in FY 2075/76 was 5.61 million metric tons and 5.55 million metric tons in FY 2076/77. </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"">Spokesperson at the ministry Prakash Kumar Sanjel said that although the area of paddy production has increased by about 4,000 hectares as compared to last FY, productivity has also declined by 9.09 percent due to unseasonal rains and has remained at 3.47 metric tons per hectare. </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 him, the overall national paddy production has declined due to heavy losses in Kailali, Kanchanpur, Bardiya, Banke and Kapilvastu districts of the Far-western and Lumbini province due to unseasonal rains. Paddy production in the Far western Province has declined by 31.49 percent and in Lumbini Province by 18.38 percent. </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 statistics of paddy production shows that the paddy production in other provinces except Gandaki has remained negative as compared to last year. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14329', 'image' => '20220103122426_20210512035550_20181125011444_pady-1024x682.jpg', 'article_date' => '2022-01-03 12:23:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14585', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Declines in 2021 ', 'sub_title' => '', 'summary' => 'January 3: The arrival of tourists in Nepal declined in 2021 compared to the previous year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 3: The arrival of tourists in Nepal declined in 2021 compared to the previous year. According to Nepal Tourism Board (NTB), a total of 150,962 foreign tourists arrived in Nepal during 2021 against the arrival of 230,000 foreign tourists in 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NTB informed that the tourist arrival in 2020 is 25 percent less than the number of tourist visiting Nepal through air and roadways in 2020. The decline in arrival of tourists is largely attributed to restrictions in movements of people in foreign countries and also at home due to the outbreak of the second wave of COVID-19 across the world. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Board's Director Mani Lamicchane shared that over 230,000 foreign tourists had visited Nepal in 2020 while 1.19 million tourists had arrived here in 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Indian tourists constituted the highest number of foreign tourists with 64,673 visitors followed by 22,853 American tourists in 2021. Likewise, 8,680 British nationals, 6,196 Chinese and 5,044 Bangladeshi citizens had visited Nepal during the review period, according to NTB. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14328', 'image' => '20220103082122_20210901125523_Tourist.jpg', 'article_date' => '2022-01-03 08:20:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14584', 'article_category_id' => '1', 'title' => 'Govt Body Involved in Financial irregularities while Importing Fertilizer: CIAA', 'sub_title' => '', 'summary' => 'January 3: Farmers across the country have been struggling to get chemical fertilizer during planting season since a long time as a state-owned company has been found involved in financial irregularities while importing chemical fertilizers in collusion with the suppliers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 3: Farmers across the country have been struggling to get chemical fertilizer during planting season since a long time as a state-owned company has been found involved in financial irregularities while importing chemical fertilizers in collusion with the suppliers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Agriculture Inputs Company Ltd is the authorized government body to supply fertilizers to the farmers at subsidized rates. But the company itself is involved in irregularities, according to the Commission for the Investigation of Abuse of Authority (CIAA).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a case filed against the company officials by the CIAA, the company was found importing sub standard chemical fertilizers. The CIAA investigation showed that the company under the Ministry of Agriculture and Livestock Development failed to meet the standard criteria while importing Diammonium Phosphate (DAP) fertilizer in the last fiscal year (FY 2020/21). The officials are accused of embezzling a huge amount of money by purchasing sub-standard fertilizer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company had allegedly asked Nepal Environmental and Scientific Service Pvt Ltd to prepare a report against competitive bids, the state-owned national news agency RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the CIAA charge-sheet, the imported chemical fertilizer failed to meet the quality and standard set by quality control and metrology departments of the government. The company also made payment of Rs 1.53 billion by preparing a fake report, the CIAA further accused. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA has filed the case against Managing Director of the Agriculture Inputs Company, Netra Bahadur Bhandari, Manager Bishnu Prasad Pokhrel, Assistant Manager Durga Prasad Pande, Deputy Manager Puskar Dip Budha and has demanded the recovery of Rs 1.53 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, a case has also been filed against the supplier Binit Joshi of Joshi Biz House Pvt at the Special Court demanding recovery of the embezzled amount. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA also filed the cases against Managing Director at Nepal Environmental and Scientific Service Pvt Ltd, Salil Devkota, Lab Director Sunil Babu Khatri and others involved in preparing in fake reports. </span></span></p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14327', 'image' => '20220103081519_CIAA.jpg', 'article_date' => '2022-01-03 08:14:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14600', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Concerned over Revision of Criteria to Appoint MD of Nepal Telecom', 'sub_title' => '', 'summary' => 'January 5: The Development and Technology Committee of the House of Representatives has raised concerns over the revision of criteria for the appointment of the managing director of Nepal Telecom.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 5: The Development and Technology Committee of the House of Representatives has raised concerns over the revision of criteria for the appointment of the managing director of Nepal Telecom.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Ministry of Communications and Information Technology has amended the directive on appointment of managing director of Nepal Telecom (NT) to select the managing director through open competition.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The amended directive has increased the three-year tenure of Nepal Telecom’s MD to four years, monthly salary from Rs 200,000 to Rs 250,000 in addition to a monthly rent of Rs 60,000. The new directive has also changed the age limit to 56 years from 58 years. The lawmakers raised questions over the change of criteria exactly one month before the appointment of the managing director.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Lawmakers said that the government cannot change the criteria suddenly with vested interest. Ganesh Pahadi said that the directive was suddenly changed to appoint a particular person the government wanted to. The amended provisions of age limit and experience requirement are testament to it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kalyani Khadka, chairperson of the committee, said that the government should always give priority the employees working in the organization for the top post. Baikuntha Aryal, secretary at the Ministry of Communications and Information Technology, clarified that the criteria has been changed to reduce the age limit so that the appointed person can work for the entire term of four years</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said the appointment process will be done through open competition so it doesn't justify the claims that the employees of the company are being sidelined. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee has directed the government to amend the directive only when it is in the interest of the organization. Minister for Communications Gyanendra Bahadur Karki was summoned to the meeting but he didn't attend it. His absence raised suspicions among the lawmakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The committee has also directed the government to submit an action plan to make the internet service affordable. Nepal Telecom had submitted an action plan to expand the 4G service to all local levels in the previous fiscal year, but it is yet to expand the service in 43 districts. Pointing to NT's poor performance in infrastructure development, the committee has also directed NT to build the infrastructure recruiting qualified human resources.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-05', 'modified' => '2022-01-05', 'keywords' => '', 'description' => '', 'sortorder' => '14342', 'image' => '20220105123229_Parliament.jpg', 'article_date' => '2022-01-05 12:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14598', 'article_category_id' => '1', 'title' => 'NOC Determines Fuel Price by Including Costs under 9 Different Headings ', 'sub_title' => '', 'summary' => 'January 4: Nepal Oil Corporation (NOC) has been determining the consumer prices of petroleum products after including the costs under 9 different headings.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Nepal Oil Corporation (NOC) has been determining the consumer prices of petroleum products after including the costs under 9 different headings.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the NOC, customs duty, road maintenance and improvement tax, infrastructure development tax, value-added tax (VAT), various other taxes under the heading of environment, transportation cost of tanker from Indian Oil Corporation's depot to NOC depot and insurance expenses, technical loss, corporation's administrative expenses, and dealers' commission among others are added to determine the fuel prices for the consumers.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nagendra Shah, acting deputy executive director of NOC, said that the consumer price is determined only after adding the costs under these headings. NOC has to pay Rs 25 per liter for customs duty on petrol, Rs 4 per liter for road maintenance fee, Rs 10 per liter for infrastructure development tax, Rs 1.36 for price stabilization fund and Rs 1.50 for environment fee. Similarly, value-added tax (VAT) is Rs 15.65. The total taxes that NOC pays for a litre of petrol is Rs 57.73 per liter. Considering the volume of petrol imported, NOC has to pay Rs 680 million per month as </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Likewise, NOC pays Rs 40.41 per liter under the same headings for a litre of diesel. The monthly taxes for diesel is Rs 820 million. Similarly, the NOC has to pay Rs 20.30 for a liter of kerosene or Rs 30 million per month, Rs 40 million per month for aviation fuel, and Rs 2.30 billion per month for cooking gas (LPG).</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NOC has been paying Rs 12 billion to the government. As per the price list of IOC, NOC purchases petrol at Rs 76.48 per litre and adds the taxes of Rs 57.73 and other costs and sells petrol at Rs 136 per litre. Similarly, it distributes diesel at Rs 119 per litre after purchasing it for Rs 73.68 per litre from India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shah argues that the cost incurred by NOC is more than the current market price of petroleum products. He argues that petrol costs Rs 146.50 per litre and diesel Rs 123.545 per litre.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NOC says that the biggest loss is from the sales of cooking gas. The corporation has been incurring a monthly loss of Rs 2.30 billion on cooking gas at the rate of Rs 647 per cylinder.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14341', 'image' => '20220104033329_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2022-01-04 15:32:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14597', 'article_category_id' => '218', 'title' => 'Muktinath Bikas Bank opens 32 branch offices at once', 'sub_title' => '', 'summary' => 'January 4: Muktinath Bikas Bank has entered its 16th year of operation. On the occasion of its anniversary, the bank inaugurated 32 branch offices at once from the central office digitally.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Muktinath Bikas Bank has entered its 16</span><sup><span style="font-family:"Times New Roman","serif"">th</span></sup><span style="font-family:"Times New Roman","serif""> year of operation. On the occasion of its anniversary, the bank inaugurated 32 branch offices at once from the central office digitally.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank has added four branches in Province 1, three branches in Province 2, thirteen branches in Bagmati Province, two branches in Gandaki Province, five branches in Lumbini Province and two branches in Far-Western Province. The chairperson of the bank, Bharatraj Dhakal inaugurated the new branch offices.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chairperson Dhakal informed that Muktinath Bikas Bank has been providing modern banking facilities alongside contributing to the economy of the country through different financial and non-financial services. Current directors, former directors, founding shareholders and senior officials of the bank, and branch managers were present at the inauguration ceremony.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank informed that it organized various programs under corporate social responsibilities in the regional and branch offices of all the seven states. The bank distributed stationery and furniture to schools, food and clothes to various orphanages and old age homes, dustbin to various places, and conducted financial literacy and digital banking literacy programs. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The bank stated that the regional offices and central offices organized blood donation programs on the occasion. To encourage digital transactions, the bank's ATM card can be used to withdraw money free of charge from any other bank's ATM connected to the Visa network across Nepal.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14340', 'image' => '20220104030943_MNBBL_16.jpg', 'article_date' => '2022-01-04 15:07:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14596', 'article_category_id' => '1', 'title' => 'Conflict between Locals and Industry Increasing along Birgunj-Pathlaiya Industrial Corridor', 'sub_title' => '', 'summary' => 'January 4: Jitpur-Simara Sub Metropolitan City has launched a campaign to remove the production unit of Jagdamba Steels in the Birgunj-Pathlaiya Industrial Corridor.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: Jitpur-Simara Sub Metropolitan City has launched a campaign to remove the production unit of Jagdamba Steels in the Birgunj-Pathlaiya Industrial Corridor.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""> Mayor of the sub-metropolis Krishna Poudel has taken such initiative stating that Jagdamba Steels has spread pollution and created risk of accidents among the locals. The locals have protested time and again against the careless attitude of Jagdamba Steels regarding pollution control.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">They claim that due to the industry becoming irresponsible in occupational safety, accidents occur time and again and the locals are at the frontline of risk. Conflicts between the industry and locals in the corridor have escalated greatly.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">An all-party meeting chaired by Mayor Poudel a few days ago after repeated incidents of conflict between the industry and the locals concluded that the kiln to melt scrap iron would not be allowed to operate there. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The industry has been producing billets by melting scrap iron collected from the local market. Initiatives will be taken through the local administration to relocate the kiln’s smelting furnace within a year. The locals have complained that the industry has not complied with its pollution control commitments.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The locals have repeatedly locked the gates of the industry in protest. In the past, the industry had agreed to operate under the control of the local administration. The locals have been saying that the industry has not complied with the agreement as well.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Mayor Poudel stated that the risk of accidents has increased as the industry's gas plants are connected to the settlement. An ultimatum has been given to move the gas plant within the main premises of the industry within three months.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A few days ago, a group of locals had entered the industry and vandalized the property saying that the gas plant was leaking. The industry said that it incurred damages worth millions of rupees due to the vandalism.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The locals have complained that the industry has given priority to Indian citizens in employment while putting the locals at risk of pollution and industrial accidents. The all-party meeting has also decided to give priority to locals for employment.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The meeting demanded that the industry should immediately provide regular employment to at least 60 people. According to the industry management, about 1000 workers are directly and indirectly working in various production units of the industrial complex. It has also been demanded to maintain adequate greenery inside and outside the factory for the management of noise and vibration generated during the operation of the industry and for the control of pollution.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The industry has also been accused of encroaching on public land. The meeting has decided to take initiative to conserve such land. The meeting has also asked the company to make parking arrangements in the industrial premises saying that the risk of road accidents has increased while parking the vehicles on the main highway. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14339', 'image' => '20220104025928_1641187747.Gas Jagadamba.jpg', 'article_date' => '2022-01-04 14:58:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14593', 'article_category_id' => '1', 'title' => 'IBN Sets Up Investor Desk', 'sub_title' => '', 'summary' => 'January 4: Finance Minister and Vice-Chairperson of Investment Board Nepal, Janardan Sharma, on Monday inaugurated the investor desk established at the office of the Investment Board Nepal. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 4: Finance Minister and Vice-Chairperson of Investment Board Nepal, Janardan Sharma, on Monday inaugurated the investor desk established at the office of the Investment Board Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Details of investment potential as well as projects incorporated in project bank and necessary online services are available at the desk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating the government is committed to create investment-friendly environment in Nepal, Minister Sharma called investors to invest in Nepal without any doubt. He assured that the government is ready to provide facilities as far as the law allows. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A press release issued by IBN Spokesperson Surendra Poudel reads that Minister Sharma urged the developers to complete the projects as soon as possible, saying there is immense potential of investment in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Urging the developers to inform the government about the problems surfaced in project implementation on time, he said that the investor desk would provide updated information about every aspect of investment in Nepal by providing all necessary information to the investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chief Executive Officer of IBN, Sushil Bhatta, shared that the desk was established with an objective of providing information about investment opportunity in Nepal and making facilitation more effective. He added that the desk would help in providing services from a single point. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14338', 'image' => '20220104122047_20210823044910_MG_3290.jpg', 'article_date' => '2022-01-04 12:19:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14594', 'article_category_id' => '1', 'title' => 'Rise in Prices of Raw Materials Increases Price of Poultry Feed ', 'sub_title' => '', 'summary' => 'January 4: The price of poultry feed has skyrocketed due to increase in the prices of raw materials such as maize, soybeans and feed supplements.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: The price of poultry feed has skyrocketed due to increase in the prices of raw materials such as maize, soybeans and feed supplements. As the price of such commodities has increased in the international market, the price of poultry feed has also increased in the Nepali market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Nepal Grain Industries Association has stated that the price has been increased by Rs 6 per kg. President of the association, Rabin Puri informed that the price of B-0 poultry feed has been fixed at Rs 84 per kg and B-1 at Rs 82 per kg. Accordingly, the price of B-2 grain has been fixed at Rs 80 per kg and B-3 grain at Rs 78 per kg. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, the impact of the Covid-19 pandemic on the world economy has led to increase in the price of all the raw materials used to make poultry feeds as well as vitamins and medicines by 25 to 30 percent. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the last one year, the price of soybean has increased by Rs 55 per kg from Rs 50 per kg to Rs 105 per kg. Likewise, the price of maize has also increased by Rs 10 per kg. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to traders, the recent rise in consumption of raw materials including soybeans by the Chinese traders might have led to a shortage in other countries. About 80 percent of the maize and about 99 percent of the soybean required for grain production in Nepal are imported from countries including the United States, Brazil and India. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The price of chicken has also gone up as the price of grains has been steadily rising. Jung Bahadur BC, president of National Meat Entrepreneurs Association said that the price of chicken meat has gone up from Rs 330 per kg to Rs 345 per kg. However, based on the increase in the price of grains, the farmers are of the view that the price of chicken meat should be around Rs 400 per kg. Stakeholders point out that small farmers are most affected by skyrocketing grain prices. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14337', 'image' => '20220104122813_20211007112611_20210803125226_product-jpeg-500x500.jpg', 'article_date' => '2022-01-04 12:27:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14595', 'article_category_id' => '1', 'title' => 'Shortage of Chemical Fertilizers unlikely to be Resolved Soon', 'sub_title' => '', 'summary' => 'January 4: The shortage of chemical fertilizers, a perennial problem faced by farmers, is not likely to end anytime soon. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 4: The shortage of chemical fertilizers, a perennial problem faced by farmers, is not likely to end anytime soon. The Ministry of Agriculture and Livestock has completed a global tender and purchase agreement, but fertilizers will not be imported soon due to the shortage in the international market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">To resolve the problem of fertilizer shortage which is plaguing the farmers every season, the government has increased the budget allocation significantly this year. However, there has not been enough supply of chemical fertilizers.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the current fiscal year, more than Rs 27 billion has been allocated to procure chemical fertilizers against Rs 12 billion in 2020/21. According to the ministry, 420,000 metric tons of chemical fertilizers were purchased in the previous year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the ministry has increased the budget to purchase fertilizers, it is not an easy task to import the fertilizers. According to the ministry, the volume of fertilizer subsidy has also increased significantly this year compared to last year. The government had provided a subsidy of Rs 29.55 per kg for urea in the last fiscal year while it is providing a subsidy of Rs 100.13 per kg this year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Similarly, the government had provided a subsidy of Rs 67.71 per kg last year which has increased to Rs 11.90 per kg. Farmers will get a subsidy of Rs 70.41 per kg this year for Potassium, up from Rs 6.83 per kg. The Agriculture Inputs Company Limited and the Salt Trading Corporation Limited will import and distribute subsidized chemical fertilizers in the current fiscal year.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The warehouses of these two companies currently have 10,500 metric tonnes of urea, 1,200 metric tonnes of Diammonium Phosphate (DAP) and about 500 metric tonnes of Potassium in stock. The current stock of fertilisers is not possible to meet the demand in the coming days. In the next three months, the ministry needs to supply at least 75,000 metric tons in the market.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although both the companies have completed the procurement process to supply 150,000 metric tonnes of fertilizers in the market, the import process has been halted due to unfavorable circumstances in the international market, said a senior official of the Ministry of Agriculture and Livestock Development (MoALD). Agriculture Minister Mahindra Ray Yadav has expressed commitment to provide fertilizers to the farmers within the next four months.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a press briefing on January 1, he said that the import of fertilizers has been halted due to the shortage in the international market itself. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the MoALD, about 1.2 million tons of chemical fertilizer is required annually. Paddy plantation alone requires 4,48,067 tons of fertilizer, while 311,686 tonnes is needed for maize cultivation and 155,736 tonnes for wheat. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14336', 'image' => '20220104123705_20210526042706_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2022-01-04 12:36:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14592', 'article_category_id' => '1', 'title' => 'Institutions with Cross-Holdings Instructed to go for Merger ', 'sub_title' => '', 'summary' => 'January 4: Nepal Rastra Bank (NRB) has instructed finance institutions with cross-holdings to initiate the process of merger or acquisition.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">January 4: Nepal Rastra Bank (NRB) has instructed finance institutions with cross-holdings to initiate the process of merger or acquisition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Issuing a circular on Monday (January 3), the Department of Bank and Financial institutions of NRB directed the financial institutions willing to go for a merger to submit a plan of action within July 15. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank has directed the institutions having cross holding of shares over 10 percent to opt for merger or acquisition in order to reduce the number of microfinance institutions. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The arrangement will be applicable for the microfinance institutions set up by the commercial banks, development banks and finance companies as promoter shareholders. <em>(With inputs from RSS) </em></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14335', 'image' => '20220104114416_20161206024918_merger.jpg', 'article_date' => '2022-01-04 11:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14591', 'article_category_id' => '1', 'title' => 'Banking System to get Cash Flow of 80 Percent from Local Levels' Reserve Fund', 'sub_title' => '', 'summary' => 'January 4: Nepal Rastra Bank (NRB) has allowed commercial banks dealing with government expenditure to consider 80 percent of the reserve funds of local levels as deposits. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">January 4: Nepal Rastra Bank (NRB) has allowed commercial banks dealing with government expenditure to consider 80 percent of the reserve funds of local levels as deposits. However, the concerned banks can consider such funds as deposits only till the end of the current fiscal year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank made such arrangements by issuing a circular on Monday, January 3. Prior to this, commercial banks could consider up to 50 percent of the reserve fund as deposits. NRB has increased the ceiling for the current fiscal year. As per the new directive, an additional 30 percent of the reserve fund of local levels will now flow to the banking system. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The central bank issued the new directive taking into consideration the liquidity crunch faced by the banks. Bankers expect this to ease the liquidity crisis to some extent.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the instructions of NRB, commercial banks can invest the reserve fund in productive sector. However, they are not allowed to invest the amount from the reserve fund on import and commercial purpose.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">The Ministry of Finance had made an arrangement in mid-December allowing commercial banks to mobilize up to 80 percent of the reserve fund of local levels. The central bank has issued a circular on January 3 for the implementation of the arrangement made by the Ministry of Finance. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-04', 'modified' => '2022-01-04', 'keywords' => '', 'description' => '', 'sortorder' => '14334', 'image' => '20220104113330_20220104075732_20210805024909_2021030802161.jpg', 'article_date' => '2022-01-04 11:32:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14589', 'article_category_id' => '1', 'title' => 'CBFIN Unveils Vision 2030', 'sub_title' => '', 'summary' => 'January 3: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has set Vision 2030 with the objective of supporting the overall development of the country from the banking sector. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 3: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has set Vision 2030 with the objective of supporting the overall development of the country from the banking sector. According to CBFIN, the Vision 2030 aims to make the banking sector a major partner in the overall development of the country.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">CBFIN conducted a study on the difficulties and challenges of the banking sector. Based on the same study, CBFIN has prepared a report with recommendations for the development of the banking sector.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The report has been submitted to the Governor of Nepal Rastra Bank, Maha Prasad Adhikari. CBFIN Chairman Pawan Golyan announced during the general assembly of CBFIN on Friday that the report has been submitted to the Governor. The banking sector is contributing in various aspects including increasing economic growth rate, increasing economic activities, increasing GDP, developing the private sector and teaching banking habits, added Golyan.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The banking sector will continue to make such contributions in the days to come. However, CBFIN says that Vision 2030 has been brought to make the banking sector a major driver of economic development.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Vision 2030 envisages building strong infrastructure for risk management, increasing deposits and credit in a balanced and sustainable manner, and developing strong information technology infrastructure. CBFIN aims to have branches and liaison offices of Nepali banks in at least 10 countries by 2030.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> <span style="font-family:"Arial","sans-serif"">Similarly, Vision 2030 also mentions about contributing to the development of the country by giving priority to green financing and small and medium enterprise loans. CBFIN also promotes process automation and paperless banking.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">NRB data till 2077 BS shows that 39 percent Nepalis still do not have access to banking. Therefore, the goal is to provide banking access to all Nepalis, promote digital banking, reduce usage of cheques and move towards paperless banking, said CBFIN.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">At present, human life is becoming more difficult from the point of view of a healthy environment due to industrialization, use of plastic products, environmental degradation, increasing urbanization etc.</span> <span style="font-family:"Arial","sans-serif"">Therefore, CBFIN says that a special target has been set for green finance. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The report has also given some suggestions to NRB to solve the problem seen in the banking sector.</span></span></span><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14332', 'image' => '20220103032645_Banks.jpg', 'article_date' => '2022-01-03 15:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14588', 'article_category_id' => '1', 'title' => 'Upgrading Biratnagar Airport Delayed as Federal Government Fails to Release Budget', 'sub_title' => '', 'summary' => 'January 3: The work of upgrading Biratnagar Airport to a regional airport has been delayed due to the failure on part of the federal government to release the allocated budget.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">January 3: The work of upgrading Biratnagar Airport to a regional airport has been delayed due to the failure on part of the federal government to release the allocated budget. The central government did not release the allocated budget of Rs 8 billion in the fiscal year 2077/78 for upgrading the airport. Due to this, Rs 7 billion to be released by the provincial government and Rs 2 billion by the Biratnagar Metropolitan City were withheld.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">This is the reason why the compensation could not be distributed to the locals whose land has been held for acquisition for the last one and a half years. However, the government of Province 1 and the Biratnagar metropolis are now ready to release the allocated budget. Chief Minister Rajendra Rai and Mayor of the Biratnagar Metropolitan City Bhim Parajuli have reassured that the work of upgrading of Biratnagar Airport will commence after the provincial government and the metropolitan city release the budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Mayor Parajuli said that the Biratnagar Airport will not be relocated out the city under any circumstances. He added that the work of upgrading Biratnagar Airport into a regional airport will be carried out by allocating a budget of Rs 2 billion in the upcoming fiscal year. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Stating that the government has moved ahead with the plan as there is a need for a regional airport, CM Rai said that the state would allocate 40 percent of the budget after the federal government provides 50 percent of the budget. Regarding the inability of Province 1 to reap the expected benefits from the tourism sector despite having five mountains above 8,000 meters, Chief Minister Rai emphasized on the need to make Biratnagar Airport as the base for of ‘mountain flight’.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif""> Mayor of the Biratnagar Metropolitan City, Parajuli expressed commitment that the Biratnagar Metropolitan City would provide 10 percent of the budget if the federal government releases 50 percent budget and the province allocates 40 percent of the budget.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Biratnagar Airport, established in 1958, is considered to be the oldest airport among the domestic airports. A master plan has been prepared to expand the airport which is 1,500 meters long and 20 meters wide and make it 3,000 meters long and 30 meters wide.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14331', 'image' => '20220103024002_1641167736.Clipboard10.jpg', 'article_date' => '2022-01-03 14:39:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14587', 'article_category_id' => '1', 'title' => 'Supplies Secretary Admits Failure to Implement Automatic Pricing Mechanism of Fuel', 'sub_title' => '', 'summary' => 'January 3: Secretary at the Ministry of Industry, Commerce, and Supplies Dinesh Bhattarai has admitted that the automatic pricing system introduced for the price adjustment of petroleum products has not been fully implemented. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 3: Secretary at the Ministry of Industry, Commerce, and Supplies Dinesh Bhattarai has admitted that the automatic pricing system introduced for the price adjustment of petroleum products has not been fully implemented. Bhattarai made such a remark during an interaction program on 'Easy Supply of Petroleum Products and Automatic Pricing System' held in Kathmandu on Sunday in collaboration between the ministry and the Society of Economic Journalists of Nepal (SEJON).</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 had in September 2014 introduced a policy to adjust the price of petrol, diesel, and other fuel every 15 days in accordance to the international price. As per the policy, the Nepal Oil Corporation (NOC) has been adjusting the fuel price according to the price list sent by the Indian Oil Corporation (IOC) on the 1st and 16th of each month.</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"">Bhattarai said that there is general opposition to the policy for not adjusting the price even if it went down. He said prices were being raised without burdening other dimensions of the economy. "By mobilizing the money in the price stabilization fund, the price of fuel that has gone up for some time can be reduced. Long-term solutions need to be implemented," he said. </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"">Similarly, General Manager of Nepal Oil Corporation Surendra Kumar Poudel said that the implementation of an automatic pricing system would lead to high losses in some cases, and there could be problems due to lack of preparedness. He said that preparations have also been made to mobilize the amount of price stabilization funds.</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"">NOC had set up such a fund to prevent consumers from being overburdened by the automatic pricing system. Rs 15.34 billion has been deposited in this fund.</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"">Poudel also said that the quality of fuel available in Nepal and India is the same. He also informed that a lab is being set up at Sinamangal in Kathmandu for testing the quality of fuel.</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"">Likewise, Nagendra Shah, acting deputy managing director of the NOC, said that the price has gone up due to various taxes levied in Nepal. However, he said that the price of fuel is cheaper in Nepal than in India. Presenting a working paper, he said that the NOC is now at a loss due to cooking gas rather than petrol and diesel. He informed that NOC has incurred a loss of Rs 2.30 billion in cooking gas (LPG) at present.</span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14330', 'image' => '20220103021238_20211030080715_202609_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2022-01-03 14:10:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14586', 'article_category_id' => '1', 'title' => 'Paddy Production Declines by 8.74 percent ', 'sub_title' => '', 'summary' => 'January 3: The production of paddy, which is the major crop produced in Nepal, has declined by 8.74 percent this year.', '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"">January 3: The production of paddy, which is the major crop produced in Nepal, has declined by 8.74 percent this year. The paddy production has decreased due to the damage caused by the unseasonal rainfall as well as strong winds across the country from October 17 to 20. </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"">Organising a press conference on Sunday, the Ministry of Agriculture and Livestock Development informed that paddy production has declined this year. As per the data collected by the ministry from across the country, the production of paddy in the current fiscal year has been found to be the lowest in the last five years. </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 data provided by the Ministry, 5.62 million metric tons of paddy was produced in 1.47 million hectares of land in the Fiscal Year 2077/78. In the current fiscal year, 5.13 million metric tons of paddy has already been produced in the same area. This is 8.74 percent less than the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, in FY 2074/75, 5.15 million metric tons of paddy was produced. Likewise, the production of paddy in FY 2075/76 was 5.61 million metric tons and 5.55 million metric tons in FY 2076/77. </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"">Spokesperson at the ministry Prakash Kumar Sanjel said that although the area of paddy production has increased by about 4,000 hectares as compared to last FY, productivity has also declined by 9.09 percent due to unseasonal rains and has remained at 3.47 metric tons per hectare. </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 him, the overall national paddy production has declined due to heavy losses in Kailali, Kanchanpur, Bardiya, Banke and Kapilvastu districts of the Far-western and Lumbini province due to unseasonal rains. Paddy production in the Far western Province has declined by 31.49 percent and in Lumbini Province by 18.38 percent. </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 statistics of paddy production shows that the paddy production in other provinces except Gandaki has remained negative as compared to last year. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14329', 'image' => '20220103122426_20210512035550_20181125011444_pady-1024x682.jpg', 'article_date' => '2022-01-03 12:23:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14585', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Declines in 2021 ', 'sub_title' => '', 'summary' => 'January 3: The arrival of tourists in Nepal declined in 2021 compared to the previous year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 3: The arrival of tourists in Nepal declined in 2021 compared to the previous year. According to Nepal Tourism Board (NTB), a total of 150,962 foreign tourists arrived in Nepal during 2021 against the arrival of 230,000 foreign tourists in 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NTB informed that the tourist arrival in 2020 is 25 percent less than the number of tourist visiting Nepal through air and roadways in 2020. The decline in arrival of tourists is largely attributed to restrictions in movements of people in foreign countries and also at home due to the outbreak of the second wave of COVID-19 across the world. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Board's Director Mani Lamicchane shared that over 230,000 foreign tourists had visited Nepal in 2020 while 1.19 million tourists had arrived here in 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Indian tourists constituted the highest number of foreign tourists with 64,673 visitors followed by 22,853 American tourists in 2021. Likewise, 8,680 British nationals, 6,196 Chinese and 5,044 Bangladeshi citizens had visited Nepal during the review period, according to NTB. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14328', 'image' => '20220103082122_20210901125523_Tourist.jpg', 'article_date' => '2022-01-03 08:20:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14584', 'article_category_id' => '1', 'title' => 'Govt Body Involved in Financial irregularities while Importing Fertilizer: CIAA', 'sub_title' => '', 'summary' => 'January 3: Farmers across the country have been struggling to get chemical fertilizer during planting season since a long time as a state-owned company has been found involved in financial irregularities while importing chemical fertilizers in collusion with the suppliers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 3: Farmers across the country have been struggling to get chemical fertilizer during planting season since a long time as a state-owned company has been found involved in financial irregularities while importing chemical fertilizers in collusion with the suppliers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Agriculture Inputs Company Ltd is the authorized government body to supply fertilizers to the farmers at subsidized rates. But the company itself is involved in irregularities, according to the Commission for the Investigation of Abuse of Authority (CIAA).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a case filed against the company officials by the CIAA, the company was found importing sub standard chemical fertilizers. The CIAA investigation showed that the company under the Ministry of Agriculture and Livestock Development failed to meet the standard criteria while importing Diammonium Phosphate (DAP) fertilizer in the last fiscal year (FY 2020/21). The officials are accused of embezzling a huge amount of money by purchasing sub-standard fertilizer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company had allegedly asked Nepal Environmental and Scientific Service Pvt Ltd to prepare a report against competitive bids, the state-owned national news agency RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the CIAA charge-sheet, the imported chemical fertilizer failed to meet the quality and standard set by quality control and metrology departments of the government. The company also made payment of Rs 1.53 billion by preparing a fake report, the CIAA further accused. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA has filed the case against Managing Director of the Agriculture Inputs Company, Netra Bahadur Bhandari, Manager Bishnu Prasad Pokhrel, Assistant Manager Durga Prasad Pande, Deputy Manager Puskar Dip Budha and has demanded the recovery of Rs 1.53 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, a case has also been filed against the supplier Binit Joshi of Joshi Biz House Pvt at the Special Court demanding recovery of the embezzled amount. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA also filed the cases against Managing Director at Nepal Environmental and Scientific Service Pvt Ltd, Salil Devkota, Lab Director Sunil Babu Khatri and others involved in preparing in fake reports. </span></span></p> ', 'published' => true, 'created' => '2022-01-03', 'modified' => '2022-01-03', 'keywords' => '', 'description' => '', 'sortorder' => '14327', 'image' => '20220103081519_CIAA.jpg', 'article_date' => '2022-01-03 08:14:46', '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
