December 24: The Central Bureau of Statistics (CBS) is making preparations to publish the report of the national census of local-level for the first…
December 24: The Central Bureau of Statistics (CBS) is making preparations to publish the report of the national census of local-level for the first…
December 24: Nepal Tourism Board (NTB) has brought an adventure cycling trail into operation in the Kathmandu…
December 24: The growth rate of life insurance business has been declining…
December 24: Nepal’s foreign trade has increased by 63 percent in the first five months of the current fiscal compared to the corresponding period of last fiscal year (FY…
December 23: The government has given a grace period of one month for disgruntled tax payers to withdraw cases filed for tax…
December 23: Power supply to the under-construction Gautam Buddha International Cricket Stadium has been cut off after it failed to pay electricity…
December 23: The import of electric vehicles (EVs) has taken a huge leap after the government lowered the customs…
December 23: The term of the National Reconstruction Authority (NRA), which has been managing the reconstruction of private houses, health posts and hospital buildings, public buildings and archeological heritage sites destroyed by the 2015 earthquake, is expiring on Friday, December…
December 23: Manakamana cable car, the first cable car of Nepal, has resumed its operation after…
December 23: The taskforce formed by the government to forge a consensus regarding the US-funded project, Millennium Challenge Corporation (MCC), held its first meeting on…
December 23: Nepal Rastra Bank, the central bank of Nepal, has taken measures to avert current liquidity crunch and reduce trade…
December 22: Chitwan Mid Town (CMT) Resort, established with investment of Rs 320 million with the joint venture of 62 people involved in various sectors, has come into…
December 22: Nepal Life Insurance Company has launched the campaign ‘Nepal Kai Number 1’ claiming the company to be the number one in the sector of life…
December 22: IME Life Insurance Company organized its annual ‘Business Excellence Awards, 2021’ in Kathmandu.…
December 22: The Chamber of Industries, Morang (CIM) has drawn the attention of Nepal Rastra Bank (NRB) citing that the current liquidity crisis in financial sector is having implications in the operation of business…
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 24: The Central Bureau of Statistics (CBS) is making preparations to publish the report of the national census of local-level for the first time. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Only district-level reports of census used to be published till the last census held in 2011 AD. Director of the Bureau, Dhundiraj Lamichhane, told RSS that the local-level statistics report was going to be published for the first time since the government adopted the state restructuring system. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">All the 77 districts have already sent the forms of population count of 2021 census to the centre. The CBS has made preparations to enter the details in computer till mid-January, 2022. The task of entering the details will be completed within six months. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lamicchane shared that the report would be made public in the beginning of the next fiscal year. The CBS is preparing to release separate census report of the centre, provinces, districts and local levels this year. This year, the national census was held from November 11 to 25.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The census is held once in every 10 years in Nepal. The first census was held 109 years back in 1968BS during the premiership of Chandra Shumsher Rana. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14281', 'image' => '20211224035346_20211111124948_20211109080004_20211108052804_National-Census-2021.jpg', 'article_date' => '2021-12-24 15:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14535', 'article_category_id' => '1', 'title' => 'Tourism Board Introduces Adventure Cycling Trail in Kathmandu Valley', 'sub_title' => '', 'summary' => 'December 24: Nepal Tourism Board (NTB) has brought an adventure cycling trail into operation in the Kathmandu Valley.', '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"">December 24: Nepal Tourism Board (NTB) has brought an adventure cycling trail into operation in the Kathmandu Valley. The 15-km cycling trail between Kirtipur and Chandragiri was constructed by the NTB with assistance from various donor agencies. It has come into operation from Thursday, December 23.</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 board, in collaboration with the United Nations Development Program (UNDP), constructed the trail connecting Kirtipur and Chandragiri municipalities under the Sustainable Tourism Project for Livelihood Rehabilitation. The trail, built in ward number 4, 7, 8 and 9 of Chandragiri Municipality and ward 4 of Kirtipur Municipality, runs from Bosandanda to Chandragiri Cable Car’s Base Station.</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 cycling trail was inaugurated by the former minister and MP Rajan KC on Thursday. Speaking on the occasion, KC said that the project, which was launched at a time when the tourism sector was in ruins due to the Covid-19, can provide short-term employment to the tourism workers and also help in the construction of tourist destinations in various other places.</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"">Chandra Rijal, vice-chairman of the Nepal Tourism Board, said that the board has been making relentless efforts to minimize the impacts of Covid-19 on the tourism sector and revive the tourism industry.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> He emphasized on the need to be active at the local level for sustainable management and operation of the structures built under this project. </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"">Mayor of Chandragiri Municipality Ghanshyam Giri said that the municipality has emphasized on the development of tourism infrastructure and promotion of religious and cultural tourism. On the occasion, Mayor of Kirtipur Municipality Ramesh Marhajan said that the ongoing activities would help revive tourism.</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 tourism board has invested US$ 1 million and the UNDP has spend</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> US</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">$ 1.5 million for the project. The project aims to provide relief to about 6,000 workers in the tourism sector by creating short-term employment. The board also aims to provide employment to more than 2,000 people in partnership with local levels across the country.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/Untitled%286%29.jpg" style="height:687px; width:800px" /></p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14280', 'image' => '20211224021708_FHSbVHJVEAAjyPn (1).jpg', 'article_date' => '2021-12-24 14:15:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14534', 'article_category_id' => '1', 'title' => 'Growth Rate of Life Insurance Business Declines ', 'sub_title' => '', 'summary' => 'December 24: The growth rate of life insurance business has been declining lately.', '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"">December 24: The growth rate of life insurance business has been declining lately. Life insurance business, which was booming even during the Covid-19 pandemic, has been decreasing since the first month of the current fiscal 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"">According to the data of the Insurance Board of Nepal, life insurance business is declining on the basis of monthly premium collection. Insurance premium of Rs 16.61 billion was collected in the first month of the current FY. The monthly premium has dropped to Rs 9.46 billion in November.. </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 overall business rate is also in the declining trend. The data of IBN shows that although the overall business is growing, its growth rate has been declining. </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 growth rate of the life insurance business was 27.38 percent last July. By November, it has been limited to about 17 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"">At present, there are 19 life insurance companies in Nepal. As of November, they have collected Rs 57.79 billion insurance premium, which is 16.78 percent more than the collection in the corresponding period of last year when Rs 49.49 billion premium was collected.</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"">Executive director of the Insurance Board Rajuraman Poudel said that the life insurance business has been declining lately. "In the past, the growth rate of the life insurance business was encouraging but it's not the same now," he said, adding, "Why this has happened is a matter of study." He says that the liquidity crisis and problems in Nepal’s economy might be the reason. </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"">Even the insurance companies are not satisfied with their business. They say that the business is not encouraging of late. They have expressed their concern over the contraction in growth rate of the business. </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 life insurance companies claim that the attraction towards life insurance has declined after the second wave of coronavirus. As people were in panic during the second wave, they had started getting insured for financial security. However, people have now started taking it lightly. As a result, the interest of people over life insurance has decreased. In addition, people's understanding of insurance has been clouded by the delay in settling the claims of Covid-19 insurance. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14279', 'image' => '20211224125532_20210723111545_1626997044.1.jpg', 'article_date' => '2021-12-24 12:54:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14533', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Ballooning despite Increase in Export', 'sub_title' => '', 'summary' => 'December 24: Nepal’s foreign trade has increased by 63 percent in the first five months of the current fiscal compared to the corresponding period of last fiscal year (FY 2020-21).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 24: Nepal’s foreign trade has increased by 63 percent in the first five months of the current fiscal compared to the corresponding period of last fiscal year (FY 2020-21).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, capital outflow of Rs 838.40 billion was recorded for importing goods while the total trade volume stood at Rs 941 billion, according to the Department of Customs. Nepal’s foreign trade during the corresponding period of last fiscal year was worth Rs 575 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The latest data issued by the Department of Customs show that the country’s import also increased by 59.55 percent this year compared to the previous year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepal’s export also rose to 105.61 percent in the review period. The total export of the country was worth Rs 50.05 billion till mid-December last year which has reached Rs 102 billion this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, despite the rise in export this year, the country’s trade deficit has further increased compared to last year. The country recorded a 54.7 percent rise in trade deficit which stands at Rs 735 billion in the first five months of the current fiscal year. Last year, the trade deficit was Rs 475 billion in the corresponding period. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, petroleum products formed a large part of Nepal’s import in the first five months of the current fiscal year. Among the sub-categories of petroleum products, diesel worth Rs 49.02 billion was imported till mid-December 2021. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, crude soybean oil comes second in terms of the highest proportion of import. Nepal’s entrepreneurs import crude soybean oil from different countries and export it to other countries after refining the product. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, around 980 million litres of soybean oil worth Rs 33.66 billion was imported in the country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Department, palm oil worth Rs 24.61 billion, petrol worth Rs 24.10 billion, LP gas worth Rs 23.11 billion and phone sets worth Rs 20.35 billion were also imported. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the exports section, soybean oil was the country’s main export product during the review period. As per the data of the Department of Customs, soybean oil worth Rs 30.55 billion was exported from Nepal followed by palm oil worth Rs 27.42 billion. <em>(With inputs from RSS) </em></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14278', 'image' => '20211224113150_Trade.jpg', 'article_date' => '2021-12-24 11:31:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14532', 'article_category_id' => '1', 'title' => 'Government Extends Deadline to Withdraw Tax Review Cases', 'sub_title' => '', 'summary' => 'December 23: The government has given a grace period of one month for disgruntled tax payers to withdraw cases filed for tax review.', '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"">December 23: The government has given a grace period of one month for disgruntled tax payers to withdraw cases filed for tax review. In doing so, the taxpayers will get waivers on fine as well as interest on taxes. </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 taxpayers who have applied for administrative review of tax assessment by various tax offices and filed cases in the court and revenue tribunal can withdraw the case until mid-January 2022 to benefit from the scheme. If the taxpayer withdraws the case within the given period, the interest, additional fee and penalty will be waived.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had introduced such a provision through the Financial Act. According to the Article 20 of the Act, there is a provision to waive the fees, additional charges and penalties if the taxpayers withdraw the cases of administrative review. </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"">A notice published on Nepal Gazette on December 15 reads 'the deadline has been extended to offer the waiver facility to the taxpayers as the service delivery has been hampered by the delayed appointment of chairperson in Revenue Tribunal in many areas.' </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 Inland Revenue Department, 1,205 applicants have registered for administrative reviews. According to Raju Prasad Pyakurel, information officer of the department, 94 applications have been withdrawn following the government notice. However, the number of cases pending in the revenue tribunals and courts is not known yet.</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"">Finance Minister Janardan Sharma has even instructed the revenue officials to publish the details of the tax dispute cases. He believes the Inland Revenue and the Revenue Investigation Department should make tax disputes cases public.</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 budget announcement of the current Fiscal Year, Income Tax Act 2058, Value Added Tax Act 2052 and Excise Duty Act 2058, provides fifty percent waiver on interest for the tax determined until the mid July 2021, if the taxpayers withdraw cases filed for administrative review.</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"">Similarly, additional fees, penalty and fines will be waived if the due amount determined until mid-July 2020 is paid till mid-January 2022.</span></span></span></span></p> <p><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14277', 'image' => '20211223040942_20210116081553_Clipboard36.jpg', 'article_date' => '2021-12-23 16:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14530', 'article_category_id' => '1', 'title' => 'NEA Cuts Power Supply to Int’l Cricket Stadium ', 'sub_title' => '', 'summary' => 'December 23: Power supply to the under-construction Gautam Buddha International Cricket Stadium has been cut off after it failed to pay electricity tariff. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 23: Power supply to the under-construction Gautam Buddha International Cricket Stadium has been cut off after it failed to pay electricity tariff. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction works of the stadium have been stagnated for the past five months. The Bharatpur Transmission Centre of Nepal Electricity Authority (NEA) on Wednesday cut off power supply to the stadium for not paying the bills. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Engineer at the transmission centre, Rajendra Poudel, the dues have reached Rs 887,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Dhurmus Suntali Foundation that spearheaded the construction works of the cricket stadium had walked away from their responsibility after facing financial crisis. The Foundation has urged Bharatpur Metropolis to take ownership of the stadium saying the Foundation has yet to clear off dues over Rs 170 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA has also cut off power supply to Mount Everest Brewery as it has yet to pay electricity tariff dues of over Rs 3.74 million. Along with this, the NEA has cut off the lines of 12 small firms and organization for not paying the electricity bills. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14276', 'image' => '20211223031018_maxresdefault (1).jpg', 'article_date' => '2021-12-23 15:09:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14529', 'article_category_id' => '1', 'title' => 'Imports of EVs Jump after Government Lowered Customs Duty', 'sub_title' => '', 'summary' => 'December 23: The import of electric vehicles (EVs) has taken a huge leap after the government lowered the customs duty.', '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"">December 23: The import of electric vehicles (EVs) has taken a huge leap after the government lowered the customs duty. The import of EVs has increased tremendously in the first five months of the current fiscal year 2078/79.</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 import of EVs has increased via the dry port of Birgunj. Balaram Bhandari, the customs officer at Birgunj Dry Port, informed that the import of EVs has increased after the government decided to adopt a policy to encourage the use of clean energy. Bhandari informed that 290 vehicles from various companies worth Rs 891.5 million were imported through the dry port. The data is of mid-July to mid-November.</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 customs office, 134 EVs worth Rs 439.3 million were imported from the dry port in the last fiscal year. During the review period, only eight such vehicles worth Rs 189 million were cleared through the customs.</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"">“In the current fiscal year, the government has reduced customs duty on imports of EVs and removed excise duty. Due to this reason, the import of EVs has surged in great numbers,” said Bhandari.</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 then Finance Minister Bishnu Poudel had reduced the customs duty on the import of electric vehicles while introducing the current year’s budget through an ordinance. Customs officials say that there has been an increase in import after the removal of excise duty on imports.</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"">Despite the increase in electricity production in the country, there was no consumption. Therefore, the decision to lower the customs duty on import of EVs was taken. The 80 percent customs duty in the previous fiscal year 2077/78 was reduced to 10 to 40 percent in the current fiscal 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"">In the previous fiscal year, the then Finance Minister Yuba Raj Khatiwada received heavy criticism for imposing high tariffs and excise duties that directly affected the import of the EVs.</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"">In the previous fiscal year, 30 percent excise duty was fixed for imports but this year's budget has removed the excise duty. At present, importers have to pay 10 to 40 percent customs duty and 13 percent value added tax depending on the capacity of the vehicle. The road improvement fee is 5 percent. Reduction in the excise duty rate has positively affected the import of EVs.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14275', 'image' => '20211223023600_20211103021336_CarPartsCom_EV_1200x628.jpg', 'article_date' => '2021-12-23 14:35:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14528', 'article_category_id' => '1', 'title' => 'NRA’s Term set to Expire on Friday', 'sub_title' => '', 'summary' => 'December 23: The term of the National Reconstruction Authority (NRA), which has been managing the reconstruction of private houses, health posts and hospital buildings, public buildings and archeological heritage sites destroyed by the 2015 earthquake, is expiring on Friday, December 24.', '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"">December 23: The term of the National Reconstruction Authority (NRA), which has been managing the reconstruction of private houses, health posts and hospital buildings, public buildings and archeological heritage sites destroyed by the 2015 earthquake, is expiring on Friday, December 24. The government had established the autonomous body on December 25, 2015 to carry out the reconstruction works. The government had extended the term of NRA in December 2020 for a one year period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During its six year term, NRA has completed of 75 percent of works including the reconstruction of private houses in 31 districts including the 14 most affected by the earthquake. </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"">Till the last fiscal year 2077/78, NRA spent a budget of Rs 381 billion for reconstruction. The Post Disaster Needs Assessment Report (PDNA) had estimated the need of Rs 938 billion investment for the post-earthquake reconstruction. However, the Post Disaster Recovery Framework (PDRF) had downsized the estimated cost to Rs 482 billion from Rs 938 billion. </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 Manohar Ghimire, joint spokesperson of NRA, the budget spent in the current fiscal year has not been included in the record books yet. He said that the details of the cost, expenditure and source of funding are yet to be collected. </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"">NRA has been handing over its works to the concerned agencies since mid-September. A meeting of NRA on Wednesday decided to hand over all of its responsibilities to the concerned bodies from now onward. The meeting chaired by Prime Minister Sher Bahadur Deuba decided to hand over all the responsibilities, assets and other works of reconstruction to other bodies on Wednesday, September 17.</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"">Deuba has instructed the concerned bodies to complete the remaining works on time. Similarly, he has also expressed his commitment not to allow budget shortage for the remaining reconstruction works.</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 NRA, the total number of beneficiaries in the list so far is 866,207 and the grant agreement has been reached with 827,340. Now, the NRA will be responsible for preparing the integrated financial statement of current and capital expenditure for the fiscal year 2078/079 and the work related to audit.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14274', 'image' => '20211223021108_20210628124301_tesXamd4TN210415090728.jpg', 'article_date' => '2021-12-23 14:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14531', 'article_category_id' => '1', 'title' => 'Manakamana Cable Car Resumes Operation ', 'sub_title' => '', 'summary' => 'December 23: Manakamana cable car, the first cable car of Nepal, has resumed its operation after maintenance. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 23: Manakamana cable car, the first cable car of Nepal, has resumed its operation after maintenance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The cable car remained closed for four days from last Sunday for carrying out necessary maintenance in gear box and tower. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to deputy general manager of Manakamana Darshan Pvt Ltd, Ujjwal Sherchan, the cable car service remained shut for four days on December 19-22 for fixing technical glitches. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that the cable car service has come into operation from December 23 after completing maintenance works. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The cable car is upgrading its existing analogue system to digital system as per its plan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14273', 'image' => '20211223031728_manakamana-Cablecar.jpg', 'article_date' => '2021-12-23 15:16:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14527', 'article_category_id' => '1', 'title' => 'Taskforce Starts Discussion to Forge Consensus on MCC', 'sub_title' => '', 'summary' => 'December 23: The taskforce formed by the government to forge a consensus regarding the US-funded project, Millennium Challenge Corporation (MCC), held its first meeting on Wednesday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 23: The taskforce formed by the government to forge a consensus regarding the US-funded project, Millennium Challenge Corporation (MCC), held its first meeting on Wednesday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the meeting reportedly held at the residence of CPN (Unified Socialist) leader Jhalanath Khanal in Dallu, Kathmandu, the taskforce members held preliminary discussion regarding endorsement of the MCC which has courted controversy in Nepal. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Leaders are divided over whether to endorse the grant assistance or not due to the some alleged objectionable provisions of the project. Even some ruling parties including CPN Maoist Centre and CPN Unified Socialist are not in favour of endorsing the MCC grant agreement in its present form. They have been demanding amendment to some provisions while the main opposition party CPN UML has been obstructing house proceedings.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The then government led by Nepali Congress had signed the grant agreement with the MCC in Washington in September 2017. As per the agreement, the United States had agreed to provide US$500 million in grants for two projects, and that the Government of Nepal would contribute $130 million for these projects. The fund would be utilized for road construction and repair and electricity production and construction of transmission lines.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister for Communications and Information Technology Gyanendra Bahadur Karki, who is also a taskforce member, said that discussions held on Wednesday were headed in a positive direction. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The ruling coalition had formed a three-member taskforce to solicit support from other political parties to endorse the MCC. The taskforce led by Khanal comprises of CPN (Maoist Center) leader Narayan Kaji Shrestha and Minister Karki. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The task force has been mandated to hold discussions with other political parties on the issues ranging from resuming the parliamentary procedure to advancing several agendas under-consideration in the parliament. </span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14272', 'image' => '20211223123002_20210905114326_20200704031812_MCC.jpg', 'article_date' => '2021-12-23 12:29:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14526', 'article_category_id' => '1', 'title' => 'Central Bank Zeroes in on Import Replacement and Export Promotion ', 'sub_title' => '', 'summary' => 'December 23: Nepal Rastra Bank, the central bank of Nepal, has taken measures to avert current liquidity crunch and reduce trade deficit. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 23: Nepal Rastra Bank, the central bank of Nepal, has taken measures to avert current liquidity crunch and reduce trade deficit. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During a discussion organized by NRB with economic journalists on Wednesday, NRB Governor Maha Prasad Adhikari clarified that the central bank has given high priority to replace imports with export promotion in order to fix the current problem. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He shared that liquidity flow of Rs 2,500 billion was made through permanent liquidity facility, Rs 69 billion through overnight repo, Rs 220 billion through repo and Rs 27 billion through direct purchase as of December 20.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“An arrangement has been made to keep loan deposit ratio at 90 percent till mid-July 2022 while re-financing facility of Rs 92 billion has been approved as of December 22 in the current fiscal year,” the governor informed. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In order to tame ballooning trade deficit, the central bank has placed different measures, including determining ceiling of foreign currency available for silver import, increment of one percent interest rate in the deposit of bank accounts of the people in foreign employment and arranging cent percent margin in the import of certain goods and commodities. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He further informed that an arrangement has been made for the Non-Resident Nepalis and their associations to open savings and deposit accounts in foreign currency. Among other measures in place are cut-off in the facility of foreign currency cash exchange, control in the unlawful import of gold and reduction in the ceiling of ‘non-deliverable derivate forward’ that can be kept in foreign countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The country is heading towards economic recovery in the current situation with full liberation from the COVID-19 pandemic, he said, adding the situation of trade deficit resulted from the rise in the import and reduction of remittance inflow. “All these happened in course of the economic revival,” he claimed. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The liquidity crunch has resulted due to the decline in deposits compared to the loan flow rate. Liquidity problems are recurring in Nepalese economy in the context when export is weak and dependency on import is on the rise,” the governor shared. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14271', 'image' => '20211223091128_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-23 09:10:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14525', 'article_category_id' => '266', 'title' => 'New Resort in Chitwan with Investment of Rs 320 Million comes into Operation', 'sub_title' => '', 'summary' => 'December 22: Chitwan Mid Town (CMT) Resort, established with investment of Rs 320 million with the joint venture of 62 people involved in various sectors, has come into operation.', '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"">December 22: Chitwan Mid Town (CMT) Resort, established with investment of Rs 320 million with the joint venture of 62 people involved in various sectors, has come into operation. The resort made an official announcement of its operation amid a press conference on Monday, December 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"">The construction of the resort commenced in the year 2019 and was completed recently. At the conference, chairman of the resort Bhesh Raj Duwadi informed that the resort has been brought into operation targeting different businesses of Bharatpur city and internal as well as external tourists.</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 chairman Duwadi, there are a total of four halls with one of the event halls with a seating capacity 2,500 and three other small halls. The resort has a cafeteria with a capacity to accommodate 100 people, a bar, a coffee shop, swimming pool and water fountains. </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"">Duwadi informed that this resort has introduced a kitchen with European technology for the first time in Chitwan, where cooking is done using electricity and steam. He said that a bus with a disco bar would come into operation in the coming days. Duwadi added that the resort has been brought into operation targeting various parties, seminars, gatherings and conventions in the region.</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"">There are 42 well-equipped rooms in the resort. In addition, there is an arrangement for a meeting hall with a capacity of 20 people on each floor. Speaking at the conference, Madan Ghimire, managing director of the resort, said that the services of the resort started as soon as the construction of the resort with earthquake-resistant iron pillars and structures was completed. According to Ghimire, 62 people have got direct employment here till date. He added that it will be increased to 100 in the near future.</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"">Spread over an area of one bigha, the resort is divided into three parts namely Chitwan Hall, Mid Hall and Town Hall. The Chitwan Hall has a capacity to accommodate 200 people, Mid Hall has a capacity of 700 people and Town Hall has a capacity of 2,000 people. Managing Director Ghimire said that the resort has made arrangements for short rest and nap for the passengers traveling through the highway.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14270', 'image' => '20211222052627_Untitled.jpg', 'article_date' => '2021-12-22 17:25:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14524', 'article_category_id' => '266', 'title' => 'Nepal Insurance Company launches ‘Nepal Kai Number 1’ Campaign', 'sub_title' => '', 'summary' => 'December 22: Nepal Life Insurance Company has launched the campaign ‘Nepal Kai Number 1’ claiming the company to be the number one in the sector of life insurance.', '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"">December 22: Nepal Life Insurance Company has launched the campaign ‘Nepal Kai Number 1’ claiming the company to be the number one in the sector of life insurance. The company has claimed that the majority of indicators have proven Nepal Life Insurance to be the best in the insurance sector.</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 company, till the end of the first quarter of fiscal year 2078/79, it has the highest life insurance fund of Rs 118.76 billion, the highest number of issued insurance premiums of Rs 2.98 million, the highest claim payment of Rs 40.50 billion and the highest paid-up capital of Rs 7.19 billion.</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"">Sushil Kumar Chaudhary, the acting chief executive officer of the company said that the 'Nepal Kai Number 1' campaign has been launched from December 21 to raise awareness among the people about the importance of life insurance.</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"">Acting CEO Chaudhary said, “We want to spread awareness among the general public about the importance and necessity of life insurance. We want everyone to know and see the benefits that life insurance provides for ensuring the future of themselves and those associated with them.”</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"">Chaudhary hoped that the initiated campaign would win the trust of all.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14269', 'image' => '20211222051117_jbb.jpg', 'article_date' => '2021-12-22 17:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14523', 'article_category_id' => '266', 'title' => 'IME Life Insurance organizes “Business Excellence Awards 2021”', 'sub_title' => '', 'summary' => 'December 22: IME Life Insurance Company organized its annual ‘Business Excellence Awards, 2021’ in Kathmandu. ', '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"">December 22: IME Life Insurance Company organized its annual ‘Business Excellence Awards, 2021’ in Kathmandu. The slogan for the program this year was “Hand in Hand for an Excellent Future”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the award, the insurance company honoured the best agents and agencies for performing excellent work in the fiscal year 2077/78. A total of eight agency managers, 32 agents qualified for MDRT and agents selected from different categories from among 24,500 agents were honored during the awards ceremony, according to the company.</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 company informed that more than 300 agents were present during the program. At the event, Manisha Koirala, the brand ambassador of the company, commented that such programs aid in motivating agents to perform actively in this sector.</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 program was organized with the goal of enhancing the capacity of agents, motivating them, and encouraging the agents.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14268', 'image' => '20211222050532_BEA-Group-Phddoto-1536x546.jpg', 'article_date' => '2021-12-22 17:04:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14522', 'article_category_id' => '1', 'title' => 'Liquidity Crisis having Implications on Business Sector: CIM', 'sub_title' => '', 'summary' => 'December 22: The Chamber of Industries, Morang (CIM) has drawn the attention of Nepal Rastra Bank (NRB) citing that the current liquidity crisis in financial sector is having implications in the operation of business sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Chamber of Industries, Morang (CIM) has drawn the attention of Nepal Rastra Bank (NRB) citing that the current liquidity crisis in financial sector is having implications in the operation of business sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Chamber Suyash Pyakurel and his delegation on Tuesday met with NRB Governor Maha Prasad Adhikari requesting for the central bank’s intervention in the crisis to build conducive atmosphere for trade and industrial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pyakurel apprised the governor that banks and financial institutions were finding hard to issue a letter of credit for importing industrial raw materials and they expressed fear that a day would come when they will have to suspend production in the lack of raw materials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the Governor Adhikari pledged to address the issues hampering to open the LC for the regular supplies of raw materials required for industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Responding to the delegation’s request for discouraging the import of luxury goods, the NRB Governor said the central bank would bring several fiscal measures into practice to save the nation’s economy from the impact of liquidity crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single digit interest rate in loans for productive sector, and the effective implementation of provisions of re-finance and soft loans were among the demands put forth by the delegation before the NRB Governor. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delegation comprised senior vice president Pradeep Murarka, vice-presidents Raj Kumar Golchha, Nanda Kishor Rathi and executive committee member Sushil Rijal among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14267', 'image' => '20211222045734_Chamber of industries morang new.jpg', 'article_date' => '2021-12-22 16:56:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14536', 'article_category_id' => '1', 'title' => 'CBS to Publish National Census Report of Local Levels for the First Time ', 'sub_title' => '', 'summary' => 'December 24: The Central Bureau of Statistics (CBS) is making preparations to publish the report of the national census of local-level for the first time. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 24: The Central Bureau of Statistics (CBS) is making preparations to publish the report of the national census of local-level for the first time. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Only district-level reports of census used to be published till the last census held in 2011 AD. Director of the Bureau, Dhundiraj Lamichhane, told RSS that the local-level statistics report was going to be published for the first time since the government adopted the state restructuring system. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">All the 77 districts have already sent the forms of population count of 2021 census to the centre. The CBS has made preparations to enter the details in computer till mid-January, 2022. The task of entering the details will be completed within six months. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lamicchane shared that the report would be made public in the beginning of the next fiscal year. The CBS is preparing to release separate census report of the centre, provinces, districts and local levels this year. This year, the national census was held from November 11 to 25.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The census is held once in every 10 years in Nepal. The first census was held 109 years back in 1968BS during the premiership of Chandra Shumsher Rana. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14281', 'image' => '20211224035346_20211111124948_20211109080004_20211108052804_National-Census-2021.jpg', 'article_date' => '2021-12-24 15:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14535', 'article_category_id' => '1', 'title' => 'Tourism Board Introduces Adventure Cycling Trail in Kathmandu Valley', 'sub_title' => '', 'summary' => 'December 24: Nepal Tourism Board (NTB) has brought an adventure cycling trail into operation in the Kathmandu Valley.', '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"">December 24: Nepal Tourism Board (NTB) has brought an adventure cycling trail into operation in the Kathmandu Valley. The 15-km cycling trail between Kirtipur and Chandragiri was constructed by the NTB with assistance from various donor agencies. It has come into operation from Thursday, December 23.</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 board, in collaboration with the United Nations Development Program (UNDP), constructed the trail connecting Kirtipur and Chandragiri municipalities under the Sustainable Tourism Project for Livelihood Rehabilitation. The trail, built in ward number 4, 7, 8 and 9 of Chandragiri Municipality and ward 4 of Kirtipur Municipality, runs from Bosandanda to Chandragiri Cable Car’s Base Station.</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 cycling trail was inaugurated by the former minister and MP Rajan KC on Thursday. Speaking on the occasion, KC said that the project, which was launched at a time when the tourism sector was in ruins due to the Covid-19, can provide short-term employment to the tourism workers and also help in the construction of tourist destinations in various other places.</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"">Chandra Rijal, vice-chairman of the Nepal Tourism Board, said that the board has been making relentless efforts to minimize the impacts of Covid-19 on the tourism sector and revive the tourism industry.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> He emphasized on the need to be active at the local level for sustainable management and operation of the structures built under this project. </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"">Mayor of Chandragiri Municipality Ghanshyam Giri said that the municipality has emphasized on the development of tourism infrastructure and promotion of religious and cultural tourism. On the occasion, Mayor of Kirtipur Municipality Ramesh Marhajan said that the ongoing activities would help revive tourism.</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 tourism board has invested US$ 1 million and the UNDP has spend</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> US</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">$ 1.5 million for the project. The project aims to provide relief to about 6,000 workers in the tourism sector by creating short-term employment. The board also aims to provide employment to more than 2,000 people in partnership with local levels across the country.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/Untitled%286%29.jpg" style="height:687px; width:800px" /></p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14280', 'image' => '20211224021708_FHSbVHJVEAAjyPn (1).jpg', 'article_date' => '2021-12-24 14:15:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14534', 'article_category_id' => '1', 'title' => 'Growth Rate of Life Insurance Business Declines ', 'sub_title' => '', 'summary' => 'December 24: The growth rate of life insurance business has been declining lately.', '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"">December 24: The growth rate of life insurance business has been declining lately. Life insurance business, which was booming even during the Covid-19 pandemic, has been decreasing since the first month of the current fiscal 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"">According to the data of the Insurance Board of Nepal, life insurance business is declining on the basis of monthly premium collection. Insurance premium of Rs 16.61 billion was collected in the first month of the current FY. The monthly premium has dropped to Rs 9.46 billion in November.. </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 overall business rate is also in the declining trend. The data of IBN shows that although the overall business is growing, its growth rate has been declining. </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 growth rate of the life insurance business was 27.38 percent last July. By November, it has been limited to about 17 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"">At present, there are 19 life insurance companies in Nepal. As of November, they have collected Rs 57.79 billion insurance premium, which is 16.78 percent more than the collection in the corresponding period of last year when Rs 49.49 billion premium was collected.</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"">Executive director of the Insurance Board Rajuraman Poudel said that the life insurance business has been declining lately. "In the past, the growth rate of the life insurance business was encouraging but it's not the same now," he said, adding, "Why this has happened is a matter of study." He says that the liquidity crisis and problems in Nepal’s economy might be the reason. </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"">Even the insurance companies are not satisfied with their business. They say that the business is not encouraging of late. They have expressed their concern over the contraction in growth rate of the business. </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 life insurance companies claim that the attraction towards life insurance has declined after the second wave of coronavirus. As people were in panic during the second wave, they had started getting insured for financial security. However, people have now started taking it lightly. As a result, the interest of people over life insurance has decreased. In addition, people's understanding of insurance has been clouded by the delay in settling the claims of Covid-19 insurance. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14279', 'image' => '20211224125532_20210723111545_1626997044.1.jpg', 'article_date' => '2021-12-24 12:54:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14533', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Ballooning despite Increase in Export', 'sub_title' => '', 'summary' => 'December 24: Nepal’s foreign trade has increased by 63 percent in the first five months of the current fiscal compared to the corresponding period of last fiscal year (FY 2020-21).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 24: Nepal’s foreign trade has increased by 63 percent in the first five months of the current fiscal compared to the corresponding period of last fiscal year (FY 2020-21).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, capital outflow of Rs 838.40 billion was recorded for importing goods while the total trade volume stood at Rs 941 billion, according to the Department of Customs. Nepal’s foreign trade during the corresponding period of last fiscal year was worth Rs 575 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The latest data issued by the Department of Customs show that the country’s import also increased by 59.55 percent this year compared to the previous year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepal’s export also rose to 105.61 percent in the review period. The total export of the country was worth Rs 50.05 billion till mid-December last year which has reached Rs 102 billion this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, despite the rise in export this year, the country’s trade deficit has further increased compared to last year. The country recorded a 54.7 percent rise in trade deficit which stands at Rs 735 billion in the first five months of the current fiscal year. Last year, the trade deficit was Rs 475 billion in the corresponding period. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, petroleum products formed a large part of Nepal’s import in the first five months of the current fiscal year. Among the sub-categories of petroleum products, diesel worth Rs 49.02 billion was imported till mid-December 2021. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, crude soybean oil comes second in terms of the highest proportion of import. Nepal’s entrepreneurs import crude soybean oil from different countries and export it to other countries after refining the product. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, around 980 million litres of soybean oil worth Rs 33.66 billion was imported in the country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Department, palm oil worth Rs 24.61 billion, petrol worth Rs 24.10 billion, LP gas worth Rs 23.11 billion and phone sets worth Rs 20.35 billion were also imported. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the exports section, soybean oil was the country’s main export product during the review period. As per the data of the Department of Customs, soybean oil worth Rs 30.55 billion was exported from Nepal followed by palm oil worth Rs 27.42 billion. <em>(With inputs from RSS) </em></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14278', 'image' => '20211224113150_Trade.jpg', 'article_date' => '2021-12-24 11:31:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14532', 'article_category_id' => '1', 'title' => 'Government Extends Deadline to Withdraw Tax Review Cases', 'sub_title' => '', 'summary' => 'December 23: The government has given a grace period of one month for disgruntled tax payers to withdraw cases filed for tax review.', '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"">December 23: The government has given a grace period of one month for disgruntled tax payers to withdraw cases filed for tax review. In doing so, the taxpayers will get waivers on fine as well as interest on taxes. </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 taxpayers who have applied for administrative review of tax assessment by various tax offices and filed cases in the court and revenue tribunal can withdraw the case until mid-January 2022 to benefit from the scheme. If the taxpayer withdraws the case within the given period, the interest, additional fee and penalty will be waived.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had introduced such a provision through the Financial Act. According to the Article 20 of the Act, there is a provision to waive the fees, additional charges and penalties if the taxpayers withdraw the cases of administrative review. </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"">A notice published on Nepal Gazette on December 15 reads 'the deadline has been extended to offer the waiver facility to the taxpayers as the service delivery has been hampered by the delayed appointment of chairperson in Revenue Tribunal in many areas.' </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 Inland Revenue Department, 1,205 applicants have registered for administrative reviews. According to Raju Prasad Pyakurel, information officer of the department, 94 applications have been withdrawn following the government notice. However, the number of cases pending in the revenue tribunals and courts is not known yet.</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"">Finance Minister Janardan Sharma has even instructed the revenue officials to publish the details of the tax dispute cases. He believes the Inland Revenue and the Revenue Investigation Department should make tax disputes cases public.</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 budget announcement of the current Fiscal Year, Income Tax Act 2058, Value Added Tax Act 2052 and Excise Duty Act 2058, provides fifty percent waiver on interest for the tax determined until the mid July 2021, if the taxpayers withdraw cases filed for administrative review.</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"">Similarly, additional fees, penalty and fines will be waived if the due amount determined until mid-July 2020 is paid till mid-January 2022.</span></span></span></span></p> <p><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14277', 'image' => '20211223040942_20210116081553_Clipboard36.jpg', 'article_date' => '2021-12-23 16:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14530', 'article_category_id' => '1', 'title' => 'NEA Cuts Power Supply to Int’l Cricket Stadium ', 'sub_title' => '', 'summary' => 'December 23: Power supply to the under-construction Gautam Buddha International Cricket Stadium has been cut off after it failed to pay electricity tariff. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 23: Power supply to the under-construction Gautam Buddha International Cricket Stadium has been cut off after it failed to pay electricity tariff. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction works of the stadium have been stagnated for the past five months. The Bharatpur Transmission Centre of Nepal Electricity Authority (NEA) on Wednesday cut off power supply to the stadium for not paying the bills. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Engineer at the transmission centre, Rajendra Poudel, the dues have reached Rs 887,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Dhurmus Suntali Foundation that spearheaded the construction works of the cricket stadium had walked away from their responsibility after facing financial crisis. The Foundation has urged Bharatpur Metropolis to take ownership of the stadium saying the Foundation has yet to clear off dues over Rs 170 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA has also cut off power supply to Mount Everest Brewery as it has yet to pay electricity tariff dues of over Rs 3.74 million. Along with this, the NEA has cut off the lines of 12 small firms and organization for not paying the electricity bills. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14276', 'image' => '20211223031018_maxresdefault (1).jpg', 'article_date' => '2021-12-23 15:09:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14529', 'article_category_id' => '1', 'title' => 'Imports of EVs Jump after Government Lowered Customs Duty', 'sub_title' => '', 'summary' => 'December 23: The import of electric vehicles (EVs) has taken a huge leap after the government lowered the customs duty.', '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"">December 23: The import of electric vehicles (EVs) has taken a huge leap after the government lowered the customs duty. The import of EVs has increased tremendously in the first five months of the current fiscal year 2078/79.</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 import of EVs has increased via the dry port of Birgunj. Balaram Bhandari, the customs officer at Birgunj Dry Port, informed that the import of EVs has increased after the government decided to adopt a policy to encourage the use of clean energy. Bhandari informed that 290 vehicles from various companies worth Rs 891.5 million were imported through the dry port. The data is of mid-July to mid-November.</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 customs office, 134 EVs worth Rs 439.3 million were imported from the dry port in the last fiscal year. During the review period, only eight such vehicles worth Rs 189 million were cleared through the customs.</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"">“In the current fiscal year, the government has reduced customs duty on imports of EVs and removed excise duty. Due to this reason, the import of EVs has surged in great numbers,” said Bhandari.</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 then Finance Minister Bishnu Poudel had reduced the customs duty on the import of electric vehicles while introducing the current year’s budget through an ordinance. Customs officials say that there has been an increase in import after the removal of excise duty on imports.</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"">Despite the increase in electricity production in the country, there was no consumption. Therefore, the decision to lower the customs duty on import of EVs was taken. The 80 percent customs duty in the previous fiscal year 2077/78 was reduced to 10 to 40 percent in the current fiscal 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"">In the previous fiscal year, the then Finance Minister Yuba Raj Khatiwada received heavy criticism for imposing high tariffs and excise duties that directly affected the import of the EVs.</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"">In the previous fiscal year, 30 percent excise duty was fixed for imports but this year's budget has removed the excise duty. At present, importers have to pay 10 to 40 percent customs duty and 13 percent value added tax depending on the capacity of the vehicle. The road improvement fee is 5 percent. Reduction in the excise duty rate has positively affected the import of EVs.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14275', 'image' => '20211223023600_20211103021336_CarPartsCom_EV_1200x628.jpg', 'article_date' => '2021-12-23 14:35:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14528', 'article_category_id' => '1', 'title' => 'NRA’s Term set to Expire on Friday', 'sub_title' => '', 'summary' => 'December 23: The term of the National Reconstruction Authority (NRA), which has been managing the reconstruction of private houses, health posts and hospital buildings, public buildings and archeological heritage sites destroyed by the 2015 earthquake, is expiring on Friday, December 24.', '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"">December 23: The term of the National Reconstruction Authority (NRA), which has been managing the reconstruction of private houses, health posts and hospital buildings, public buildings and archeological heritage sites destroyed by the 2015 earthquake, is expiring on Friday, December 24. The government had established the autonomous body on December 25, 2015 to carry out the reconstruction works. The government had extended the term of NRA in December 2020 for a one year period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During its six year term, NRA has completed of 75 percent of works including the reconstruction of private houses in 31 districts including the 14 most affected by the earthquake. </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"">Till the last fiscal year 2077/78, NRA spent a budget of Rs 381 billion for reconstruction. The Post Disaster Needs Assessment Report (PDNA) had estimated the need of Rs 938 billion investment for the post-earthquake reconstruction. However, the Post Disaster Recovery Framework (PDRF) had downsized the estimated cost to Rs 482 billion from Rs 938 billion. </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 Manohar Ghimire, joint spokesperson of NRA, the budget spent in the current fiscal year has not been included in the record books yet. He said that the details of the cost, expenditure and source of funding are yet to be collected. </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"">NRA has been handing over its works to the concerned agencies since mid-September. A meeting of NRA on Wednesday decided to hand over all of its responsibilities to the concerned bodies from now onward. The meeting chaired by Prime Minister Sher Bahadur Deuba decided to hand over all the responsibilities, assets and other works of reconstruction to other bodies on Wednesday, September 17.</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"">Deuba has instructed the concerned bodies to complete the remaining works on time. Similarly, he has also expressed his commitment not to allow budget shortage for the remaining reconstruction works.</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 NRA, the total number of beneficiaries in the list so far is 866,207 and the grant agreement has been reached with 827,340. Now, the NRA will be responsible for preparing the integrated financial statement of current and capital expenditure for the fiscal year 2078/079 and the work related to audit.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14274', 'image' => '20211223021108_20210628124301_tesXamd4TN210415090728.jpg', 'article_date' => '2021-12-23 14:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14531', 'article_category_id' => '1', 'title' => 'Manakamana Cable Car Resumes Operation ', 'sub_title' => '', 'summary' => 'December 23: Manakamana cable car, the first cable car of Nepal, has resumed its operation after maintenance. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 23: Manakamana cable car, the first cable car of Nepal, has resumed its operation after maintenance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The cable car remained closed for four days from last Sunday for carrying out necessary maintenance in gear box and tower. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to deputy general manager of Manakamana Darshan Pvt Ltd, Ujjwal Sherchan, the cable car service remained shut for four days on December 19-22 for fixing technical glitches. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that the cable car service has come into operation from December 23 after completing maintenance works. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The cable car is upgrading its existing analogue system to digital system as per its plan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14273', 'image' => '20211223031728_manakamana-Cablecar.jpg', 'article_date' => '2021-12-23 15:16:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14527', 'article_category_id' => '1', 'title' => 'Taskforce Starts Discussion to Forge Consensus on MCC', 'sub_title' => '', 'summary' => 'December 23: The taskforce formed by the government to forge a consensus regarding the US-funded project, Millennium Challenge Corporation (MCC), held its first meeting on Wednesday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 23: The taskforce formed by the government to forge a consensus regarding the US-funded project, Millennium Challenge Corporation (MCC), held its first meeting on Wednesday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the meeting reportedly held at the residence of CPN (Unified Socialist) leader Jhalanath Khanal in Dallu, Kathmandu, the taskforce members held preliminary discussion regarding endorsement of the MCC which has courted controversy in Nepal. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Leaders are divided over whether to endorse the grant assistance or not due to the some alleged objectionable provisions of the project. Even some ruling parties including CPN Maoist Centre and CPN Unified Socialist are not in favour of endorsing the MCC grant agreement in its present form. They have been demanding amendment to some provisions while the main opposition party CPN UML has been obstructing house proceedings.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The then government led by Nepali Congress had signed the grant agreement with the MCC in Washington in September 2017. As per the agreement, the United States had agreed to provide US$500 million in grants for two projects, and that the Government of Nepal would contribute $130 million for these projects. The fund would be utilized for road construction and repair and electricity production and construction of transmission lines.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister for Communications and Information Technology Gyanendra Bahadur Karki, who is also a taskforce member, said that discussions held on Wednesday were headed in a positive direction. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The ruling coalition had formed a three-member taskforce to solicit support from other political parties to endorse the MCC. The taskforce led by Khanal comprises of CPN (Maoist Center) leader Narayan Kaji Shrestha and Minister Karki. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The task force has been mandated to hold discussions with other political parties on the issues ranging from resuming the parliamentary procedure to advancing several agendas under-consideration in the parliament. </span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14272', 'image' => '20211223123002_20210905114326_20200704031812_MCC.jpg', 'article_date' => '2021-12-23 12:29:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14526', 'article_category_id' => '1', 'title' => 'Central Bank Zeroes in on Import Replacement and Export Promotion ', 'sub_title' => '', 'summary' => 'December 23: Nepal Rastra Bank, the central bank of Nepal, has taken measures to avert current liquidity crunch and reduce trade deficit. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 23: Nepal Rastra Bank, the central bank of Nepal, has taken measures to avert current liquidity crunch and reduce trade deficit. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During a discussion organized by NRB with economic journalists on Wednesday, NRB Governor Maha Prasad Adhikari clarified that the central bank has given high priority to replace imports with export promotion in order to fix the current problem. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He shared that liquidity flow of Rs 2,500 billion was made through permanent liquidity facility, Rs 69 billion through overnight repo, Rs 220 billion through repo and Rs 27 billion through direct purchase as of December 20.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“An arrangement has been made to keep loan deposit ratio at 90 percent till mid-July 2022 while re-financing facility of Rs 92 billion has been approved as of December 22 in the current fiscal year,” the governor informed. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In order to tame ballooning trade deficit, the central bank has placed different measures, including determining ceiling of foreign currency available for silver import, increment of one percent interest rate in the deposit of bank accounts of the people in foreign employment and arranging cent percent margin in the import of certain goods and commodities. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He further informed that an arrangement has been made for the Non-Resident Nepalis and their associations to open savings and deposit accounts in foreign currency. Among other measures in place are cut-off in the facility of foreign currency cash exchange, control in the unlawful import of gold and reduction in the ceiling of ‘non-deliverable derivate forward’ that can be kept in foreign countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The country is heading towards economic recovery in the current situation with full liberation from the COVID-19 pandemic, he said, adding the situation of trade deficit resulted from the rise in the import and reduction of remittance inflow. “All these happened in course of the economic revival,” he claimed. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The liquidity crunch has resulted due to the decline in deposits compared to the loan flow rate. Liquidity problems are recurring in Nepalese economy in the context when export is weak and dependency on import is on the rise,” the governor shared. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14271', 'image' => '20211223091128_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-23 09:10:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14525', 'article_category_id' => '266', 'title' => 'New Resort in Chitwan with Investment of Rs 320 Million comes into Operation', 'sub_title' => '', 'summary' => 'December 22: Chitwan Mid Town (CMT) Resort, established with investment of Rs 320 million with the joint venture of 62 people involved in various sectors, has come into operation.', '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"">December 22: Chitwan Mid Town (CMT) Resort, established with investment of Rs 320 million with the joint venture of 62 people involved in various sectors, has come into operation. The resort made an official announcement of its operation amid a press conference on Monday, December 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"">The construction of the resort commenced in the year 2019 and was completed recently. At the conference, chairman of the resort Bhesh Raj Duwadi informed that the resort has been brought into operation targeting different businesses of Bharatpur city and internal as well as external tourists.</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 chairman Duwadi, there are a total of four halls with one of the event halls with a seating capacity 2,500 and three other small halls. The resort has a cafeteria with a capacity to accommodate 100 people, a bar, a coffee shop, swimming pool and water fountains. </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"">Duwadi informed that this resort has introduced a kitchen with European technology for the first time in Chitwan, where cooking is done using electricity and steam. He said that a bus with a disco bar would come into operation in the coming days. Duwadi added that the resort has been brought into operation targeting various parties, seminars, gatherings and conventions in the region.</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"">There are 42 well-equipped rooms in the resort. In addition, there is an arrangement for a meeting hall with a capacity of 20 people on each floor. Speaking at the conference, Madan Ghimire, managing director of the resort, said that the services of the resort started as soon as the construction of the resort with earthquake-resistant iron pillars and structures was completed. According to Ghimire, 62 people have got direct employment here till date. He added that it will be increased to 100 in the near future.</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"">Spread over an area of one bigha, the resort is divided into three parts namely Chitwan Hall, Mid Hall and Town Hall. The Chitwan Hall has a capacity to accommodate 200 people, Mid Hall has a capacity of 700 people and Town Hall has a capacity of 2,000 people. Managing Director Ghimire said that the resort has made arrangements for short rest and nap for the passengers traveling through the highway.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14270', 'image' => '20211222052627_Untitled.jpg', 'article_date' => '2021-12-22 17:25:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14524', 'article_category_id' => '266', 'title' => 'Nepal Insurance Company launches ‘Nepal Kai Number 1’ Campaign', 'sub_title' => '', 'summary' => 'December 22: Nepal Life Insurance Company has launched the campaign ‘Nepal Kai Number 1’ claiming the company to be the number one in the sector of life insurance.', '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"">December 22: Nepal Life Insurance Company has launched the campaign ‘Nepal Kai Number 1’ claiming the company to be the number one in the sector of life insurance. The company has claimed that the majority of indicators have proven Nepal Life Insurance to be the best in the insurance sector.</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 company, till the end of the first quarter of fiscal year 2078/79, it has the highest life insurance fund of Rs 118.76 billion, the highest number of issued insurance premiums of Rs 2.98 million, the highest claim payment of Rs 40.50 billion and the highest paid-up capital of Rs 7.19 billion.</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"">Sushil Kumar Chaudhary, the acting chief executive officer of the company said that the 'Nepal Kai Number 1' campaign has been launched from December 21 to raise awareness among the people about the importance of life insurance.</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"">Acting CEO Chaudhary said, “We want to spread awareness among the general public about the importance and necessity of life insurance. We want everyone to know and see the benefits that life insurance provides for ensuring the future of themselves and those associated with them.”</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"">Chaudhary hoped that the initiated campaign would win the trust of all.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14269', 'image' => '20211222051117_jbb.jpg', 'article_date' => '2021-12-22 17:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14523', 'article_category_id' => '266', 'title' => 'IME Life Insurance organizes “Business Excellence Awards 2021”', 'sub_title' => '', 'summary' => 'December 22: IME Life Insurance Company organized its annual ‘Business Excellence Awards, 2021’ in Kathmandu. ', '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"">December 22: IME Life Insurance Company organized its annual ‘Business Excellence Awards, 2021’ in Kathmandu. The slogan for the program this year was “Hand in Hand for an Excellent Future”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the award, the insurance company honoured the best agents and agencies for performing excellent work in the fiscal year 2077/78. A total of eight agency managers, 32 agents qualified for MDRT and agents selected from different categories from among 24,500 agents were honored during the awards ceremony, according to the company.</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 company informed that more than 300 agents were present during the program. At the event, Manisha Koirala, the brand ambassador of the company, commented that such programs aid in motivating agents to perform actively in this sector.</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 program was organized with the goal of enhancing the capacity of agents, motivating them, and encouraging the agents.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14268', 'image' => '20211222050532_BEA-Group-Phddoto-1536x546.jpg', 'article_date' => '2021-12-22 17:04:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14522', 'article_category_id' => '1', 'title' => 'Liquidity Crisis having Implications on Business Sector: CIM', 'sub_title' => '', 'summary' => 'December 22: The Chamber of Industries, Morang (CIM) has drawn the attention of Nepal Rastra Bank (NRB) citing that the current liquidity crisis in financial sector is having implications in the operation of business sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Chamber of Industries, Morang (CIM) has drawn the attention of Nepal Rastra Bank (NRB) citing that the current liquidity crisis in financial sector is having implications in the operation of business sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Chamber Suyash Pyakurel and his delegation on Tuesday met with NRB Governor Maha Prasad Adhikari requesting for the central bank’s intervention in the crisis to build conducive atmosphere for trade and industrial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pyakurel apprised the governor that banks and financial institutions were finding hard to issue a letter of credit for importing industrial raw materials and they expressed fear that a day would come when they will have to suspend production in the lack of raw materials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the Governor Adhikari pledged to address the issues hampering to open the LC for the regular supplies of raw materials required for industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Responding to the delegation’s request for discouraging the import of luxury goods, the NRB Governor said the central bank would bring several fiscal measures into practice to save the nation’s economy from the impact of liquidity crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single digit interest rate in loans for productive sector, and the effective implementation of provisions of re-finance and soft loans were among the demands put forth by the delegation before the NRB Governor. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delegation comprised senior vice president Pradeep Murarka, vice-presidents Raj Kumar Golchha, Nanda Kishor Rathi and executive committee member Sushil Rijal among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14267', 'image' => '20211222045734_Chamber of industries morang new.jpg', 'article_date' => '2021-12-22 16:56:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14536', 'article_category_id' => '1', 'title' => 'CBS to Publish National Census Report of Local Levels for the First Time ', 'sub_title' => '', 'summary' => 'December 24: The Central Bureau of Statistics (CBS) is making preparations to publish the report of the national census of local-level for the first time. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 24: The Central Bureau of Statistics (CBS) is making preparations to publish the report of the national census of local-level for the first time. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Only district-level reports of census used to be published till the last census held in 2011 AD. Director of the Bureau, Dhundiraj Lamichhane, told RSS that the local-level statistics report was going to be published for the first time since the government adopted the state restructuring system. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">All the 77 districts have already sent the forms of population count of 2021 census to the centre. The CBS has made preparations to enter the details in computer till mid-January, 2022. The task of entering the details will be completed within six months. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lamicchane shared that the report would be made public in the beginning of the next fiscal year. The CBS is preparing to release separate census report of the centre, provinces, districts and local levels this year. This year, the national census was held from November 11 to 25.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The census is held once in every 10 years in Nepal. The first census was held 109 years back in 1968BS during the premiership of Chandra Shumsher Rana. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14281', 'image' => '20211224035346_20211111124948_20211109080004_20211108052804_National-Census-2021.jpg', 'article_date' => '2021-12-24 15:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14535', 'article_category_id' => '1', 'title' => 'Tourism Board Introduces Adventure Cycling Trail in Kathmandu Valley', 'sub_title' => '', 'summary' => 'December 24: Nepal Tourism Board (NTB) has brought an adventure cycling trail into operation in the Kathmandu Valley.', '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"">December 24: Nepal Tourism Board (NTB) has brought an adventure cycling trail into operation in the Kathmandu Valley. The 15-km cycling trail between Kirtipur and Chandragiri was constructed by the NTB with assistance from various donor agencies. It has come into operation from Thursday, December 23.</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 board, in collaboration with the United Nations Development Program (UNDP), constructed the trail connecting Kirtipur and Chandragiri municipalities under the Sustainable Tourism Project for Livelihood Rehabilitation. The trail, built in ward number 4, 7, 8 and 9 of Chandragiri Municipality and ward 4 of Kirtipur Municipality, runs from Bosandanda to Chandragiri Cable Car’s Base Station.</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 cycling trail was inaugurated by the former minister and MP Rajan KC on Thursday. Speaking on the occasion, KC said that the project, which was launched at a time when the tourism sector was in ruins due to the Covid-19, can provide short-term employment to the tourism workers and also help in the construction of tourist destinations in various other places.</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"">Chandra Rijal, vice-chairman of the Nepal Tourism Board, said that the board has been making relentless efforts to minimize the impacts of Covid-19 on the tourism sector and revive the tourism industry.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> He emphasized on the need to be active at the local level for sustainable management and operation of the structures built under this project. </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"">Mayor of Chandragiri Municipality Ghanshyam Giri said that the municipality has emphasized on the development of tourism infrastructure and promotion of religious and cultural tourism. On the occasion, Mayor of Kirtipur Municipality Ramesh Marhajan said that the ongoing activities would help revive tourism.</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 tourism board has invested US$ 1 million and the UNDP has spend</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> US</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">$ 1.5 million for the project. The project aims to provide relief to about 6,000 workers in the tourism sector by creating short-term employment. The board also aims to provide employment to more than 2,000 people in partnership with local levels across the country.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/Untitled%286%29.jpg" style="height:687px; width:800px" /></p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14280', 'image' => '20211224021708_FHSbVHJVEAAjyPn (1).jpg', 'article_date' => '2021-12-24 14:15:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14534', 'article_category_id' => '1', 'title' => 'Growth Rate of Life Insurance Business Declines ', 'sub_title' => '', 'summary' => 'December 24: The growth rate of life insurance business has been declining lately.', '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"">December 24: The growth rate of life insurance business has been declining lately. Life insurance business, which was booming even during the Covid-19 pandemic, has been decreasing since the first month of the current fiscal 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"">According to the data of the Insurance Board of Nepal, life insurance business is declining on the basis of monthly premium collection. Insurance premium of Rs 16.61 billion was collected in the first month of the current FY. The monthly premium has dropped to Rs 9.46 billion in November.. </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 overall business rate is also in the declining trend. The data of IBN shows that although the overall business is growing, its growth rate has been declining. </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 growth rate of the life insurance business was 27.38 percent last July. By November, it has been limited to about 17 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"">At present, there are 19 life insurance companies in Nepal. As of November, they have collected Rs 57.79 billion insurance premium, which is 16.78 percent more than the collection in the corresponding period of last year when Rs 49.49 billion premium was collected.</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"">Executive director of the Insurance Board Rajuraman Poudel said that the life insurance business has been declining lately. "In the past, the growth rate of the life insurance business was encouraging but it's not the same now," he said, adding, "Why this has happened is a matter of study." He says that the liquidity crisis and problems in Nepal’s economy might be the reason. </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"">Even the insurance companies are not satisfied with their business. They say that the business is not encouraging of late. They have expressed their concern over the contraction in growth rate of the business. </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 life insurance companies claim that the attraction towards life insurance has declined after the second wave of coronavirus. As people were in panic during the second wave, they had started getting insured for financial security. However, people have now started taking it lightly. As a result, the interest of people over life insurance has decreased. In addition, people's understanding of insurance has been clouded by the delay in settling the claims of Covid-19 insurance. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14279', 'image' => '20211224125532_20210723111545_1626997044.1.jpg', 'article_date' => '2021-12-24 12:54:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14533', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Ballooning despite Increase in Export', 'sub_title' => '', 'summary' => 'December 24: Nepal’s foreign trade has increased by 63 percent in the first five months of the current fiscal compared to the corresponding period of last fiscal year (FY 2020-21).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 24: Nepal’s foreign trade has increased by 63 percent in the first five months of the current fiscal compared to the corresponding period of last fiscal year (FY 2020-21).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, capital outflow of Rs 838.40 billion was recorded for importing goods while the total trade volume stood at Rs 941 billion, according to the Department of Customs. Nepal’s foreign trade during the corresponding period of last fiscal year was worth Rs 575 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The latest data issued by the Department of Customs show that the country’s import also increased by 59.55 percent this year compared to the previous year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepal’s export also rose to 105.61 percent in the review period. The total export of the country was worth Rs 50.05 billion till mid-December last year which has reached Rs 102 billion this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, despite the rise in export this year, the country’s trade deficit has further increased compared to last year. The country recorded a 54.7 percent rise in trade deficit which stands at Rs 735 billion in the first five months of the current fiscal year. Last year, the trade deficit was Rs 475 billion in the corresponding period. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, petroleum products formed a large part of Nepal’s import in the first five months of the current fiscal year. Among the sub-categories of petroleum products, diesel worth Rs 49.02 billion was imported till mid-December 2021. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, crude soybean oil comes second in terms of the highest proportion of import. Nepal’s entrepreneurs import crude soybean oil from different countries and export it to other countries after refining the product. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, around 980 million litres of soybean oil worth Rs 33.66 billion was imported in the country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Department, palm oil worth Rs 24.61 billion, petrol worth Rs 24.10 billion, LP gas worth Rs 23.11 billion and phone sets worth Rs 20.35 billion were also imported. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the exports section, soybean oil was the country’s main export product during the review period. As per the data of the Department of Customs, soybean oil worth Rs 30.55 billion was exported from Nepal followed by palm oil worth Rs 27.42 billion. <em>(With inputs from RSS) </em></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14278', 'image' => '20211224113150_Trade.jpg', 'article_date' => '2021-12-24 11:31:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14532', 'article_category_id' => '1', 'title' => 'Government Extends Deadline to Withdraw Tax Review Cases', 'sub_title' => '', 'summary' => 'December 23: The government has given a grace period of one month for disgruntled tax payers to withdraw cases filed for tax review.', '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"">December 23: The government has given a grace period of one month for disgruntled tax payers to withdraw cases filed for tax review. In doing so, the taxpayers will get waivers on fine as well as interest on taxes. </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 taxpayers who have applied for administrative review of tax assessment by various tax offices and filed cases in the court and revenue tribunal can withdraw the case until mid-January 2022 to benefit from the scheme. If the taxpayer withdraws the case within the given period, the interest, additional fee and penalty will be waived.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had introduced such a provision through the Financial Act. According to the Article 20 of the Act, there is a provision to waive the fees, additional charges and penalties if the taxpayers withdraw the cases of administrative review. </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"">A notice published on Nepal Gazette on December 15 reads 'the deadline has been extended to offer the waiver facility to the taxpayers as the service delivery has been hampered by the delayed appointment of chairperson in Revenue Tribunal in many areas.' </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 Inland Revenue Department, 1,205 applicants have registered for administrative reviews. According to Raju Prasad Pyakurel, information officer of the department, 94 applications have been withdrawn following the government notice. However, the number of cases pending in the revenue tribunals and courts is not known yet.</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"">Finance Minister Janardan Sharma has even instructed the revenue officials to publish the details of the tax dispute cases. He believes the Inland Revenue and the Revenue Investigation Department should make tax disputes cases public.</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 budget announcement of the current Fiscal Year, Income Tax Act 2058, Value Added Tax Act 2052 and Excise Duty Act 2058, provides fifty percent waiver on interest for the tax determined until the mid July 2021, if the taxpayers withdraw cases filed for administrative review.</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"">Similarly, additional fees, penalty and fines will be waived if the due amount determined until mid-July 2020 is paid till mid-January 2022.</span></span></span></span></p> <p><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14277', 'image' => '20211223040942_20210116081553_Clipboard36.jpg', 'article_date' => '2021-12-23 16:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14530', 'article_category_id' => '1', 'title' => 'NEA Cuts Power Supply to Int’l Cricket Stadium ', 'sub_title' => '', 'summary' => 'December 23: Power supply to the under-construction Gautam Buddha International Cricket Stadium has been cut off after it failed to pay electricity tariff. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 23: Power supply to the under-construction Gautam Buddha International Cricket Stadium has been cut off after it failed to pay electricity tariff. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction works of the stadium have been stagnated for the past five months. The Bharatpur Transmission Centre of Nepal Electricity Authority (NEA) on Wednesday cut off power supply to the stadium for not paying the bills. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Engineer at the transmission centre, Rajendra Poudel, the dues have reached Rs 887,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Dhurmus Suntali Foundation that spearheaded the construction works of the cricket stadium had walked away from their responsibility after facing financial crisis. The Foundation has urged Bharatpur Metropolis to take ownership of the stadium saying the Foundation has yet to clear off dues over Rs 170 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA has also cut off power supply to Mount Everest Brewery as it has yet to pay electricity tariff dues of over Rs 3.74 million. Along with this, the NEA has cut off the lines of 12 small firms and organization for not paying the electricity bills. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14276', 'image' => '20211223031018_maxresdefault (1).jpg', 'article_date' => '2021-12-23 15:09:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14529', 'article_category_id' => '1', 'title' => 'Imports of EVs Jump after Government Lowered Customs Duty', 'sub_title' => '', 'summary' => 'December 23: The import of electric vehicles (EVs) has taken a huge leap after the government lowered the customs duty.', '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"">December 23: The import of electric vehicles (EVs) has taken a huge leap after the government lowered the customs duty. The import of EVs has increased tremendously in the first five months of the current fiscal year 2078/79.</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 import of EVs has increased via the dry port of Birgunj. Balaram Bhandari, the customs officer at Birgunj Dry Port, informed that the import of EVs has increased after the government decided to adopt a policy to encourage the use of clean energy. Bhandari informed that 290 vehicles from various companies worth Rs 891.5 million were imported through the dry port. The data is of mid-July to mid-November.</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 customs office, 134 EVs worth Rs 439.3 million were imported from the dry port in the last fiscal year. During the review period, only eight such vehicles worth Rs 189 million were cleared through the customs.</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"">“In the current fiscal year, the government has reduced customs duty on imports of EVs and removed excise duty. Due to this reason, the import of EVs has surged in great numbers,” said Bhandari.</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 then Finance Minister Bishnu Poudel had reduced the customs duty on the import of electric vehicles while introducing the current year’s budget through an ordinance. Customs officials say that there has been an increase in import after the removal of excise duty on imports.</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"">Despite the increase in electricity production in the country, there was no consumption. Therefore, the decision to lower the customs duty on import of EVs was taken. The 80 percent customs duty in the previous fiscal year 2077/78 was reduced to 10 to 40 percent in the current fiscal 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"">In the previous fiscal year, the then Finance Minister Yuba Raj Khatiwada received heavy criticism for imposing high tariffs and excise duties that directly affected the import of the EVs.</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"">In the previous fiscal year, 30 percent excise duty was fixed for imports but this year's budget has removed the excise duty. At present, importers have to pay 10 to 40 percent customs duty and 13 percent value added tax depending on the capacity of the vehicle. The road improvement fee is 5 percent. Reduction in the excise duty rate has positively affected the import of EVs.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14275', 'image' => '20211223023600_20211103021336_CarPartsCom_EV_1200x628.jpg', 'article_date' => '2021-12-23 14:35:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14528', 'article_category_id' => '1', 'title' => 'NRA’s Term set to Expire on Friday', 'sub_title' => '', 'summary' => 'December 23: The term of the National Reconstruction Authority (NRA), which has been managing the reconstruction of private houses, health posts and hospital buildings, public buildings and archeological heritage sites destroyed by the 2015 earthquake, is expiring on Friday, December 24.', '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"">December 23: The term of the National Reconstruction Authority (NRA), which has been managing the reconstruction of private houses, health posts and hospital buildings, public buildings and archeological heritage sites destroyed by the 2015 earthquake, is expiring on Friday, December 24. The government had established the autonomous body on December 25, 2015 to carry out the reconstruction works. The government had extended the term of NRA in December 2020 for a one year period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During its six year term, NRA has completed of 75 percent of works including the reconstruction of private houses in 31 districts including the 14 most affected by the earthquake. </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"">Till the last fiscal year 2077/78, NRA spent a budget of Rs 381 billion for reconstruction. The Post Disaster Needs Assessment Report (PDNA) had estimated the need of Rs 938 billion investment for the post-earthquake reconstruction. However, the Post Disaster Recovery Framework (PDRF) had downsized the estimated cost to Rs 482 billion from Rs 938 billion. </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 Manohar Ghimire, joint spokesperson of NRA, the budget spent in the current fiscal year has not been included in the record books yet. He said that the details of the cost, expenditure and source of funding are yet to be collected. </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"">NRA has been handing over its works to the concerned agencies since mid-September. A meeting of NRA on Wednesday decided to hand over all of its responsibilities to the concerned bodies from now onward. The meeting chaired by Prime Minister Sher Bahadur Deuba decided to hand over all the responsibilities, assets and other works of reconstruction to other bodies on Wednesday, September 17.</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"">Deuba has instructed the concerned bodies to complete the remaining works on time. Similarly, he has also expressed his commitment not to allow budget shortage for the remaining reconstruction works.</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 NRA, the total number of beneficiaries in the list so far is 866,207 and the grant agreement has been reached with 827,340. Now, the NRA will be responsible for preparing the integrated financial statement of current and capital expenditure for the fiscal year 2078/079 and the work related to audit.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14274', 'image' => '20211223021108_20210628124301_tesXamd4TN210415090728.jpg', 'article_date' => '2021-12-23 14:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14531', 'article_category_id' => '1', 'title' => 'Manakamana Cable Car Resumes Operation ', 'sub_title' => '', 'summary' => 'December 23: Manakamana cable car, the first cable car of Nepal, has resumed its operation after maintenance. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 23: Manakamana cable car, the first cable car of Nepal, has resumed its operation after maintenance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The cable car remained closed for four days from last Sunday for carrying out necessary maintenance in gear box and tower. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to deputy general manager of Manakamana Darshan Pvt Ltd, Ujjwal Sherchan, the cable car service remained shut for four days on December 19-22 for fixing technical glitches. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that the cable car service has come into operation from December 23 after completing maintenance works. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The cable car is upgrading its existing analogue system to digital system as per its plan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14273', 'image' => '20211223031728_manakamana-Cablecar.jpg', 'article_date' => '2021-12-23 15:16:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14527', 'article_category_id' => '1', 'title' => 'Taskforce Starts Discussion to Forge Consensus on MCC', 'sub_title' => '', 'summary' => 'December 23: The taskforce formed by the government to forge a consensus regarding the US-funded project, Millennium Challenge Corporation (MCC), held its first meeting on Wednesday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 23: The taskforce formed by the government to forge a consensus regarding the US-funded project, Millennium Challenge Corporation (MCC), held its first meeting on Wednesday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the meeting reportedly held at the residence of CPN (Unified Socialist) leader Jhalanath Khanal in Dallu, Kathmandu, the taskforce members held preliminary discussion regarding endorsement of the MCC which has courted controversy in Nepal. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Leaders are divided over whether to endorse the grant assistance or not due to the some alleged objectionable provisions of the project. Even some ruling parties including CPN Maoist Centre and CPN Unified Socialist are not in favour of endorsing the MCC grant agreement in its present form. They have been demanding amendment to some provisions while the main opposition party CPN UML has been obstructing house proceedings.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The then government led by Nepali Congress had signed the grant agreement with the MCC in Washington in September 2017. As per the agreement, the United States had agreed to provide US$500 million in grants for two projects, and that the Government of Nepal would contribute $130 million for these projects. The fund would be utilized for road construction and repair and electricity production and construction of transmission lines.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister for Communications and Information Technology Gyanendra Bahadur Karki, who is also a taskforce member, said that discussions held on Wednesday were headed in a positive direction. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The ruling coalition had formed a three-member taskforce to solicit support from other political parties to endorse the MCC. The taskforce led by Khanal comprises of CPN (Maoist Center) leader Narayan Kaji Shrestha and Minister Karki. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The task force has been mandated to hold discussions with other political parties on the issues ranging from resuming the parliamentary procedure to advancing several agendas under-consideration in the parliament. </span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14272', 'image' => '20211223123002_20210905114326_20200704031812_MCC.jpg', 'article_date' => '2021-12-23 12:29:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14526', 'article_category_id' => '1', 'title' => 'Central Bank Zeroes in on Import Replacement and Export Promotion ', 'sub_title' => '', 'summary' => 'December 23: Nepal Rastra Bank, the central bank of Nepal, has taken measures to avert current liquidity crunch and reduce trade deficit. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 23: Nepal Rastra Bank, the central bank of Nepal, has taken measures to avert current liquidity crunch and reduce trade deficit. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During a discussion organized by NRB with economic journalists on Wednesday, NRB Governor Maha Prasad Adhikari clarified that the central bank has given high priority to replace imports with export promotion in order to fix the current problem. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He shared that liquidity flow of Rs 2,500 billion was made through permanent liquidity facility, Rs 69 billion through overnight repo, Rs 220 billion through repo and Rs 27 billion through direct purchase as of December 20.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“An arrangement has been made to keep loan deposit ratio at 90 percent till mid-July 2022 while re-financing facility of Rs 92 billion has been approved as of December 22 in the current fiscal year,” the governor informed. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In order to tame ballooning trade deficit, the central bank has placed different measures, including determining ceiling of foreign currency available for silver import, increment of one percent interest rate in the deposit of bank accounts of the people in foreign employment and arranging cent percent margin in the import of certain goods and commodities. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He further informed that an arrangement has been made for the Non-Resident Nepalis and their associations to open savings and deposit accounts in foreign currency. Among other measures in place are cut-off in the facility of foreign currency cash exchange, control in the unlawful import of gold and reduction in the ceiling of ‘non-deliverable derivate forward’ that can be kept in foreign countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The country is heading towards economic recovery in the current situation with full liberation from the COVID-19 pandemic, he said, adding the situation of trade deficit resulted from the rise in the import and reduction of remittance inflow. “All these happened in course of the economic revival,” he claimed. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The liquidity crunch has resulted due to the decline in deposits compared to the loan flow rate. Liquidity problems are recurring in Nepalese economy in the context when export is weak and dependency on import is on the rise,” the governor shared. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14271', 'image' => '20211223091128_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-23 09:10:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14525', 'article_category_id' => '266', 'title' => 'New Resort in Chitwan with Investment of Rs 320 Million comes into Operation', 'sub_title' => '', 'summary' => 'December 22: Chitwan Mid Town (CMT) Resort, established with investment of Rs 320 million with the joint venture of 62 people involved in various sectors, has come into operation.', '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"">December 22: Chitwan Mid Town (CMT) Resort, established with investment of Rs 320 million with the joint venture of 62 people involved in various sectors, has come into operation. The resort made an official announcement of its operation amid a press conference on Monday, December 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"">The construction of the resort commenced in the year 2019 and was completed recently. At the conference, chairman of the resort Bhesh Raj Duwadi informed that the resort has been brought into operation targeting different businesses of Bharatpur city and internal as well as external tourists.</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 chairman Duwadi, there are a total of four halls with one of the event halls with a seating capacity 2,500 and three other small halls. The resort has a cafeteria with a capacity to accommodate 100 people, a bar, a coffee shop, swimming pool and water fountains. </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"">Duwadi informed that this resort has introduced a kitchen with European technology for the first time in Chitwan, where cooking is done using electricity and steam. He said that a bus with a disco bar would come into operation in the coming days. Duwadi added that the resort has been brought into operation targeting various parties, seminars, gatherings and conventions in the region.</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"">There are 42 well-equipped rooms in the resort. In addition, there is an arrangement for a meeting hall with a capacity of 20 people on each floor. Speaking at the conference, Madan Ghimire, managing director of the resort, said that the services of the resort started as soon as the construction of the resort with earthquake-resistant iron pillars and structures was completed. According to Ghimire, 62 people have got direct employment here till date. He added that it will be increased to 100 in the near future.</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"">Spread over an area of one bigha, the resort is divided into three parts namely Chitwan Hall, Mid Hall and Town Hall. The Chitwan Hall has a capacity to accommodate 200 people, Mid Hall has a capacity of 700 people and Town Hall has a capacity of 2,000 people. Managing Director Ghimire said that the resort has made arrangements for short rest and nap for the passengers traveling through the highway.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14270', 'image' => '20211222052627_Untitled.jpg', 'article_date' => '2021-12-22 17:25:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14524', 'article_category_id' => '266', 'title' => 'Nepal Insurance Company launches ‘Nepal Kai Number 1’ Campaign', 'sub_title' => '', 'summary' => 'December 22: Nepal Life Insurance Company has launched the campaign ‘Nepal Kai Number 1’ claiming the company to be the number one in the sector of life insurance.', '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"">December 22: Nepal Life Insurance Company has launched the campaign ‘Nepal Kai Number 1’ claiming the company to be the number one in the sector of life insurance. The company has claimed that the majority of indicators have proven Nepal Life Insurance to be the best in the insurance sector.</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 company, till the end of the first quarter of fiscal year 2078/79, it has the highest life insurance fund of Rs 118.76 billion, the highest number of issued insurance premiums of Rs 2.98 million, the highest claim payment of Rs 40.50 billion and the highest paid-up capital of Rs 7.19 billion.</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"">Sushil Kumar Chaudhary, the acting chief executive officer of the company said that the 'Nepal Kai Number 1' campaign has been launched from December 21 to raise awareness among the people about the importance of life insurance.</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"">Acting CEO Chaudhary said, “We want to spread awareness among the general public about the importance and necessity of life insurance. We want everyone to know and see the benefits that life insurance provides for ensuring the future of themselves and those associated with them.”</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"">Chaudhary hoped that the initiated campaign would win the trust of all.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14269', 'image' => '20211222051117_jbb.jpg', 'article_date' => '2021-12-22 17:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14523', 'article_category_id' => '266', 'title' => 'IME Life Insurance organizes “Business Excellence Awards 2021”', 'sub_title' => '', 'summary' => 'December 22: IME Life Insurance Company organized its annual ‘Business Excellence Awards, 2021’ in Kathmandu. ', '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"">December 22: IME Life Insurance Company organized its annual ‘Business Excellence Awards, 2021’ in Kathmandu. The slogan for the program this year was “Hand in Hand for an Excellent Future”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the award, the insurance company honoured the best agents and agencies for performing excellent work in the fiscal year 2077/78. A total of eight agency managers, 32 agents qualified for MDRT and agents selected from different categories from among 24,500 agents were honored during the awards ceremony, according to the company.</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 company informed that more than 300 agents were present during the program. At the event, Manisha Koirala, the brand ambassador of the company, commented that such programs aid in motivating agents to perform actively in this sector.</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 program was organized with the goal of enhancing the capacity of agents, motivating them, and encouraging the agents.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14268', 'image' => '20211222050532_BEA-Group-Phddoto-1536x546.jpg', 'article_date' => '2021-12-22 17:04:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14522', 'article_category_id' => '1', 'title' => 'Liquidity Crisis having Implications on Business Sector: CIM', 'sub_title' => '', 'summary' => 'December 22: The Chamber of Industries, Morang (CIM) has drawn the attention of Nepal Rastra Bank (NRB) citing that the current liquidity crisis in financial sector is having implications in the operation of business sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Chamber of Industries, Morang (CIM) has drawn the attention of Nepal Rastra Bank (NRB) citing that the current liquidity crisis in financial sector is having implications in the operation of business sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Chamber Suyash Pyakurel and his delegation on Tuesday met with NRB Governor Maha Prasad Adhikari requesting for the central bank’s intervention in the crisis to build conducive atmosphere for trade and industrial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pyakurel apprised the governor that banks and financial institutions were finding hard to issue a letter of credit for importing industrial raw materials and they expressed fear that a day would come when they will have to suspend production in the lack of raw materials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the Governor Adhikari pledged to address the issues hampering to open the LC for the regular supplies of raw materials required for industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Responding to the delegation’s request for discouraging the import of luxury goods, the NRB Governor said the central bank would bring several fiscal measures into practice to save the nation’s economy from the impact of liquidity crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single digit interest rate in loans for productive sector, and the effective implementation of provisions of re-finance and soft loans were among the demands put forth by the delegation before the NRB Governor. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delegation comprised senior vice president Pradeep Murarka, vice-presidents Raj Kumar Golchha, Nanda Kishor Rathi and executive committee member Sushil Rijal among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14267', 'image' => '20211222045734_Chamber of industries morang new.jpg', 'article_date' => '2021-12-22 16:56:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14536', 'article_category_id' => '1', 'title' => 'CBS to Publish National Census Report of Local Levels for the First Time ', 'sub_title' => '', 'summary' => 'December 24: The Central Bureau of Statistics (CBS) is making preparations to publish the report of the national census of local-level for the first time. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 24: The Central Bureau of Statistics (CBS) is making preparations to publish the report of the national census of local-level for the first time. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Only district-level reports of census used to be published till the last census held in 2011 AD. Director of the Bureau, Dhundiraj Lamichhane, told RSS that the local-level statistics report was going to be published for the first time since the government adopted the state restructuring system. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">All the 77 districts have already sent the forms of population count of 2021 census to the centre. The CBS has made preparations to enter the details in computer till mid-January, 2022. The task of entering the details will be completed within six months. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Lamicchane shared that the report would be made public in the beginning of the next fiscal year. The CBS is preparing to release separate census report of the centre, provinces, districts and local levels this year. This year, the national census was held from November 11 to 25.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The census is held once in every 10 years in Nepal. The first census was held 109 years back in 1968BS during the premiership of Chandra Shumsher Rana. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14281', 'image' => '20211224035346_20211111124948_20211109080004_20211108052804_National-Census-2021.jpg', 'article_date' => '2021-12-24 15:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14535', 'article_category_id' => '1', 'title' => 'Tourism Board Introduces Adventure Cycling Trail in Kathmandu Valley', 'sub_title' => '', 'summary' => 'December 24: Nepal Tourism Board (NTB) has brought an adventure cycling trail into operation in the Kathmandu Valley.', '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"">December 24: Nepal Tourism Board (NTB) has brought an adventure cycling trail into operation in the Kathmandu Valley. The 15-km cycling trail between Kirtipur and Chandragiri was constructed by the NTB with assistance from various donor agencies. It has come into operation from Thursday, December 23.</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 board, in collaboration with the United Nations Development Program (UNDP), constructed the trail connecting Kirtipur and Chandragiri municipalities under the Sustainable Tourism Project for Livelihood Rehabilitation. The trail, built in ward number 4, 7, 8 and 9 of Chandragiri Municipality and ward 4 of Kirtipur Municipality, runs from Bosandanda to Chandragiri Cable Car’s Base Station.</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 cycling trail was inaugurated by the former minister and MP Rajan KC on Thursday. Speaking on the occasion, KC said that the project, which was launched at a time when the tourism sector was in ruins due to the Covid-19, can provide short-term employment to the tourism workers and also help in the construction of tourist destinations in various other places.</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"">Chandra Rijal, vice-chairman of the Nepal Tourism Board, said that the board has been making relentless efforts to minimize the impacts of Covid-19 on the tourism sector and revive the tourism industry.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> He emphasized on the need to be active at the local level for sustainable management and operation of the structures built under this project. </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"">Mayor of Chandragiri Municipality Ghanshyam Giri said that the municipality has emphasized on the development of tourism infrastructure and promotion of religious and cultural tourism. On the occasion, Mayor of Kirtipur Municipality Ramesh Marhajan said that the ongoing activities would help revive tourism.</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 tourism board has invested US$ 1 million and the UNDP has spend</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> US</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">$ 1.5 million for the project. The project aims to provide relief to about 6,000 workers in the tourism sector by creating short-term employment. The board also aims to provide employment to more than 2,000 people in partnership with local levels across the country.</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/Untitled%286%29.jpg" style="height:687px; width:800px" /></p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14280', 'image' => '20211224021708_FHSbVHJVEAAjyPn (1).jpg', 'article_date' => '2021-12-24 14:15:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14534', 'article_category_id' => '1', 'title' => 'Growth Rate of Life Insurance Business Declines ', 'sub_title' => '', 'summary' => 'December 24: The growth rate of life insurance business has been declining lately.', '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"">December 24: The growth rate of life insurance business has been declining lately. Life insurance business, which was booming even during the Covid-19 pandemic, has been decreasing since the first month of the current fiscal 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"">According to the data of the Insurance Board of Nepal, life insurance business is declining on the basis of monthly premium collection. Insurance premium of Rs 16.61 billion was collected in the first month of the current FY. The monthly premium has dropped to Rs 9.46 billion in November.. </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 overall business rate is also in the declining trend. The data of IBN shows that although the overall business is growing, its growth rate has been declining. </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 growth rate of the life insurance business was 27.38 percent last July. By November, it has been limited to about 17 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"">At present, there are 19 life insurance companies in Nepal. As of November, they have collected Rs 57.79 billion insurance premium, which is 16.78 percent more than the collection in the corresponding period of last year when Rs 49.49 billion premium was collected.</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"">Executive director of the Insurance Board Rajuraman Poudel said that the life insurance business has been declining lately. "In the past, the growth rate of the life insurance business was encouraging but it's not the same now," he said, adding, "Why this has happened is a matter of study." He says that the liquidity crisis and problems in Nepal’s economy might be the reason. </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"">Even the insurance companies are not satisfied with their business. They say that the business is not encouraging of late. They have expressed their concern over the contraction in growth rate of the business. </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 life insurance companies claim that the attraction towards life insurance has declined after the second wave of coronavirus. As people were in panic during the second wave, they had started getting insured for financial security. However, people have now started taking it lightly. As a result, the interest of people over life insurance has decreased. In addition, people's understanding of insurance has been clouded by the delay in settling the claims of Covid-19 insurance. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14279', 'image' => '20211224125532_20210723111545_1626997044.1.jpg', 'article_date' => '2021-12-24 12:54:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14533', 'article_category_id' => '1', 'title' => 'Nepal’s Trade Deficit Ballooning despite Increase in Export', 'sub_title' => '', 'summary' => 'December 24: Nepal’s foreign trade has increased by 63 percent in the first five months of the current fiscal compared to the corresponding period of last fiscal year (FY 2020-21).', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 24: Nepal’s foreign trade has increased by 63 percent in the first five months of the current fiscal compared to the corresponding period of last fiscal year (FY 2020-21).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, capital outflow of Rs 838.40 billion was recorded for importing goods while the total trade volume stood at Rs 941 billion, according to the Department of Customs. Nepal’s foreign trade during the corresponding period of last fiscal year was worth Rs 575 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The latest data issued by the Department of Customs show that the country’s import also increased by 59.55 percent this year compared to the previous year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepal’s export also rose to 105.61 percent in the review period. The total export of the country was worth Rs 50.05 billion till mid-December last year which has reached Rs 102 billion this year. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, despite the rise in export this year, the country’s trade deficit has further increased compared to last year. The country recorded a 54.7 percent rise in trade deficit which stands at Rs 735 billion in the first five months of the current fiscal year. Last year, the trade deficit was Rs 475 billion in the corresponding period. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the department, petroleum products formed a large part of Nepal’s import in the first five months of the current fiscal year. Among the sub-categories of petroleum products, diesel worth Rs 49.02 billion was imported till mid-December 2021. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Likewise, crude soybean oil comes second in terms of the highest proportion of import. Nepal’s entrepreneurs import crude soybean oil from different countries and export it to other countries after refining the product. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the review period, around 980 million litres of soybean oil worth Rs 33.66 billion was imported in the country. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Department, palm oil worth Rs 24.61 billion, petrol worth Rs 24.10 billion, LP gas worth Rs 23.11 billion and phone sets worth Rs 20.35 billion were also imported. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In the exports section, soybean oil was the country’s main export product during the review period. As per the data of the Department of Customs, soybean oil worth Rs 30.55 billion was exported from Nepal followed by palm oil worth Rs 27.42 billion. <em>(With inputs from RSS) </em></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-24', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14278', 'image' => '20211224113150_Trade.jpg', 'article_date' => '2021-12-24 11:31:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14532', 'article_category_id' => '1', 'title' => 'Government Extends Deadline to Withdraw Tax Review Cases', 'sub_title' => '', 'summary' => 'December 23: The government has given a grace period of one month for disgruntled tax payers to withdraw cases filed for tax review.', '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"">December 23: The government has given a grace period of one month for disgruntled tax payers to withdraw cases filed for tax review. In doing so, the taxpayers will get waivers on fine as well as interest on taxes. </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 taxpayers who have applied for administrative review of tax assessment by various tax offices and filed cases in the court and revenue tribunal can withdraw the case until mid-January 2022 to benefit from the scheme. If the taxpayer withdraws the case within the given period, the interest, additional fee and penalty will be waived.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had introduced such a provision through the Financial Act. According to the Article 20 of the Act, there is a provision to waive the fees, additional charges and penalties if the taxpayers withdraw the cases of administrative review. </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"">A notice published on Nepal Gazette on December 15 reads 'the deadline has been extended to offer the waiver facility to the taxpayers as the service delivery has been hampered by the delayed appointment of chairperson in Revenue Tribunal in many areas.' </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 Inland Revenue Department, 1,205 applicants have registered for administrative reviews. According to Raju Prasad Pyakurel, information officer of the department, 94 applications have been withdrawn following the government notice. However, the number of cases pending in the revenue tribunals and courts is not known yet.</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"">Finance Minister Janardan Sharma has even instructed the revenue officials to publish the details of the tax dispute cases. He believes the Inland Revenue and the Revenue Investigation Department should make tax disputes cases public.</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 budget announcement of the current Fiscal Year, Income Tax Act 2058, Value Added Tax Act 2052 and Excise Duty Act 2058, provides fifty percent waiver on interest for the tax determined until the mid July 2021, if the taxpayers withdraw cases filed for administrative review.</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"">Similarly, additional fees, penalty and fines will be waived if the due amount determined until mid-July 2020 is paid till mid-January 2022.</span></span></span></span></p> <p><br /> </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14277', 'image' => '20211223040942_20210116081553_Clipboard36.jpg', 'article_date' => '2021-12-23 16:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14530', 'article_category_id' => '1', 'title' => 'NEA Cuts Power Supply to Int’l Cricket Stadium ', 'sub_title' => '', 'summary' => 'December 23: Power supply to the under-construction Gautam Buddha International Cricket Stadium has been cut off after it failed to pay electricity tariff. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 23: Power supply to the under-construction Gautam Buddha International Cricket Stadium has been cut off after it failed to pay electricity tariff. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The construction works of the stadium have been stagnated for the past five months. The Bharatpur Transmission Centre of Nepal Electricity Authority (NEA) on Wednesday cut off power supply to the stadium for not paying the bills. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Engineer at the transmission centre, Rajendra Poudel, the dues have reached Rs 887,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Dhurmus Suntali Foundation that spearheaded the construction works of the cricket stadium had walked away from their responsibility after facing financial crisis. The Foundation has urged Bharatpur Metropolis to take ownership of the stadium saying the Foundation has yet to clear off dues over Rs 170 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA has also cut off power supply to Mount Everest Brewery as it has yet to pay electricity tariff dues of over Rs 3.74 million. Along with this, the NEA has cut off the lines of 12 small firms and organization for not paying the electricity bills. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-24', 'keywords' => '', 'description' => '', 'sortorder' => '14276', 'image' => '20211223031018_maxresdefault (1).jpg', 'article_date' => '2021-12-23 15:09:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14529', 'article_category_id' => '1', 'title' => 'Imports of EVs Jump after Government Lowered Customs Duty', 'sub_title' => '', 'summary' => 'December 23: The import of electric vehicles (EVs) has taken a huge leap after the government lowered the customs duty.', '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"">December 23: The import of electric vehicles (EVs) has taken a huge leap after the government lowered the customs duty. The import of EVs has increased tremendously in the first five months of the current fiscal year 2078/79.</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 import of EVs has increased via the dry port of Birgunj. Balaram Bhandari, the customs officer at Birgunj Dry Port, informed that the import of EVs has increased after the government decided to adopt a policy to encourage the use of clean energy. Bhandari informed that 290 vehicles from various companies worth Rs 891.5 million were imported through the dry port. The data is of mid-July to mid-November.</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 customs office, 134 EVs worth Rs 439.3 million were imported from the dry port in the last fiscal year. During the review period, only eight such vehicles worth Rs 189 million were cleared through the customs.</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"">“In the current fiscal year, the government has reduced customs duty on imports of EVs and removed excise duty. Due to this reason, the import of EVs has surged in great numbers,” said Bhandari.</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 then Finance Minister Bishnu Poudel had reduced the customs duty on the import of electric vehicles while introducing the current year’s budget through an ordinance. Customs officials say that there has been an increase in import after the removal of excise duty on imports.</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"">Despite the increase in electricity production in the country, there was no consumption. Therefore, the decision to lower the customs duty on import of EVs was taken. The 80 percent customs duty in the previous fiscal year 2077/78 was reduced to 10 to 40 percent in the current fiscal 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"">In the previous fiscal year, the then Finance Minister Yuba Raj Khatiwada received heavy criticism for imposing high tariffs and excise duties that directly affected the import of the EVs.</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"">In the previous fiscal year, 30 percent excise duty was fixed for imports but this year's budget has removed the excise duty. At present, importers have to pay 10 to 40 percent customs duty and 13 percent value added tax depending on the capacity of the vehicle. The road improvement fee is 5 percent. Reduction in the excise duty rate has positively affected the import of EVs.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14275', 'image' => '20211223023600_20211103021336_CarPartsCom_EV_1200x628.jpg', 'article_date' => '2021-12-23 14:35:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14528', 'article_category_id' => '1', 'title' => 'NRA’s Term set to Expire on Friday', 'sub_title' => '', 'summary' => 'December 23: The term of the National Reconstruction Authority (NRA), which has been managing the reconstruction of private houses, health posts and hospital buildings, public buildings and archeological heritage sites destroyed by the 2015 earthquake, is expiring on Friday, December 24.', '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"">December 23: The term of the National Reconstruction Authority (NRA), which has been managing the reconstruction of private houses, health posts and hospital buildings, public buildings and archeological heritage sites destroyed by the 2015 earthquake, is expiring on Friday, December 24. The government had established the autonomous body on December 25, 2015 to carry out the reconstruction works. The government had extended the term of NRA in December 2020 for a one year period.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During its six year term, NRA has completed of 75 percent of works including the reconstruction of private houses in 31 districts including the 14 most affected by the earthquake. </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"">Till the last fiscal year 2077/78, NRA spent a budget of Rs 381 billion for reconstruction. The Post Disaster Needs Assessment Report (PDNA) had estimated the need of Rs 938 billion investment for the post-earthquake reconstruction. However, the Post Disaster Recovery Framework (PDRF) had downsized the estimated cost to Rs 482 billion from Rs 938 billion. </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 Manohar Ghimire, joint spokesperson of NRA, the budget spent in the current fiscal year has not been included in the record books yet. He said that the details of the cost, expenditure and source of funding are yet to be collected. </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"">NRA has been handing over its works to the concerned agencies since mid-September. A meeting of NRA on Wednesday decided to hand over all of its responsibilities to the concerned bodies from now onward. The meeting chaired by Prime Minister Sher Bahadur Deuba decided to hand over all the responsibilities, assets and other works of reconstruction to other bodies on Wednesday, September 17.</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"">Deuba has instructed the concerned bodies to complete the remaining works on time. Similarly, he has also expressed his commitment not to allow budget shortage for the remaining reconstruction works.</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 NRA, the total number of beneficiaries in the list so far is 866,207 and the grant agreement has been reached with 827,340. Now, the NRA will be responsible for preparing the integrated financial statement of current and capital expenditure for the fiscal year 2078/079 and the work related to audit.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14274', 'image' => '20211223021108_20210628124301_tesXamd4TN210415090728.jpg', 'article_date' => '2021-12-23 14:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14531', 'article_category_id' => '1', 'title' => 'Manakamana Cable Car Resumes Operation ', 'sub_title' => '', 'summary' => 'December 23: Manakamana cable car, the first cable car of Nepal, has resumed its operation after maintenance. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 23: Manakamana cable car, the first cable car of Nepal, has resumed its operation after maintenance. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The cable car remained closed for four days from last Sunday for carrying out necessary maintenance in gear box and tower. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to deputy general manager of Manakamana Darshan Pvt Ltd, Ujjwal Sherchan, the cable car service remained shut for four days on December 19-22 for fixing technical glitches. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He further shared that the cable car service has come into operation from December 23 after completing maintenance works. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The cable car is upgrading its existing analogue system to digital system as per its plan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14273', 'image' => '20211223031728_manakamana-Cablecar.jpg', 'article_date' => '2021-12-23 15:16:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14527', 'article_category_id' => '1', 'title' => 'Taskforce Starts Discussion to Forge Consensus on MCC', 'sub_title' => '', 'summary' => 'December 23: The taskforce formed by the government to forge a consensus regarding the US-funded project, Millennium Challenge Corporation (MCC), held its first meeting on Wednesday.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 23: The taskforce formed by the government to forge a consensus regarding the US-funded project, Millennium Challenge Corporation (MCC), held its first meeting on Wednesday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the meeting reportedly held at the residence of CPN (Unified Socialist) leader Jhalanath Khanal in Dallu, Kathmandu, the taskforce members held preliminary discussion regarding endorsement of the MCC which has courted controversy in Nepal. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Leaders are divided over whether to endorse the grant assistance or not due to the some alleged objectionable provisions of the project. Even some ruling parties including CPN Maoist Centre and CPN Unified Socialist are not in favour of endorsing the MCC grant agreement in its present form. They have been demanding amendment to some provisions while the main opposition party CPN UML has been obstructing house proceedings.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The then government led by Nepali Congress had signed the grant agreement with the MCC in Washington in September 2017. As per the agreement, the United States had agreed to provide US$500 million in grants for two projects, and that the Government of Nepal would contribute $130 million for these projects. The fund would be utilized for road construction and repair and electricity production and construction of transmission lines.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister for Communications and Information Technology Gyanendra Bahadur Karki, who is also a taskforce member, said that discussions held on Wednesday were headed in a positive direction. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The ruling coalition had formed a three-member taskforce to solicit support from other political parties to endorse the MCC. The taskforce led by Khanal comprises of CPN (Maoist Center) leader Narayan Kaji Shrestha and Minister Karki. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The task force has been mandated to hold discussions with other political parties on the issues ranging from resuming the parliamentary procedure to advancing several agendas under-consideration in the parliament. </span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14272', 'image' => '20211223123002_20210905114326_20200704031812_MCC.jpg', 'article_date' => '2021-12-23 12:29:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14526', 'article_category_id' => '1', 'title' => 'Central Bank Zeroes in on Import Replacement and Export Promotion ', 'sub_title' => '', 'summary' => 'December 23: Nepal Rastra Bank, the central bank of Nepal, has taken measures to avert current liquidity crunch and reduce trade deficit. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 23: Nepal Rastra Bank, the central bank of Nepal, has taken measures to avert current liquidity crunch and reduce trade deficit. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During a discussion organized by NRB with economic journalists on Wednesday, NRB Governor Maha Prasad Adhikari clarified that the central bank has given high priority to replace imports with export promotion in order to fix the current problem. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He shared that liquidity flow of Rs 2,500 billion was made through permanent liquidity facility, Rs 69 billion through overnight repo, Rs 220 billion through repo and Rs 27 billion through direct purchase as of December 20.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“An arrangement has been made to keep loan deposit ratio at 90 percent till mid-July 2022 while re-financing facility of Rs 92 billion has been approved as of December 22 in the current fiscal year,” the governor informed. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">In order to tame ballooning trade deficit, the central bank has placed different measures, including determining ceiling of foreign currency available for silver import, increment of one percent interest rate in the deposit of bank accounts of the people in foreign employment and arranging cent percent margin in the import of certain goods and commodities. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">He further informed that an arrangement has been made for the Non-Resident Nepalis and their associations to open savings and deposit accounts in foreign currency. Among other measures in place are cut-off in the facility of foreign currency cash exchange, control in the unlawful import of gold and reduction in the ceiling of ‘non-deliverable derivate forward’ that can be kept in foreign countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The country is heading towards economic recovery in the current situation with full liberation from the COVID-19 pandemic, he said, adding the situation of trade deficit resulted from the rise in the import and reduction of remittance inflow. “All these happened in course of the economic revival,” he claimed. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“The liquidity crunch has resulted due to the decline in deposits compared to the loan flow rate. Liquidity problems are recurring in Nepalese economy in the context when export is weak and dependency on import is on the rise,” the governor shared. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-12-23', 'modified' => '2021-12-23', 'keywords' => '', 'description' => '', 'sortorder' => '14271', 'image' => '20211223091128_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-23 09:10:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14525', 'article_category_id' => '266', 'title' => 'New Resort in Chitwan with Investment of Rs 320 Million comes into Operation', 'sub_title' => '', 'summary' => 'December 22: Chitwan Mid Town (CMT) Resort, established with investment of Rs 320 million with the joint venture of 62 people involved in various sectors, has come into operation.', '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"">December 22: Chitwan Mid Town (CMT) Resort, established with investment of Rs 320 million with the joint venture of 62 people involved in various sectors, has come into operation. The resort made an official announcement of its operation amid a press conference on Monday, December 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"">The construction of the resort commenced in the year 2019 and was completed recently. At the conference, chairman of the resort Bhesh Raj Duwadi informed that the resort has been brought into operation targeting different businesses of Bharatpur city and internal as well as external tourists.</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 chairman Duwadi, there are a total of four halls with one of the event halls with a seating capacity 2,500 and three other small halls. The resort has a cafeteria with a capacity to accommodate 100 people, a bar, a coffee shop, swimming pool and water fountains. </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"">Duwadi informed that this resort has introduced a kitchen with European technology for the first time in Chitwan, where cooking is done using electricity and steam. He said that a bus with a disco bar would come into operation in the coming days. Duwadi added that the resort has been brought into operation targeting various parties, seminars, gatherings and conventions in the region.</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"">There are 42 well-equipped rooms in the resort. In addition, there is an arrangement for a meeting hall with a capacity of 20 people on each floor. Speaking at the conference, Madan Ghimire, managing director of the resort, said that the services of the resort started as soon as the construction of the resort with earthquake-resistant iron pillars and structures was completed. According to Ghimire, 62 people have got direct employment here till date. He added that it will be increased to 100 in the near future.</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"">Spread over an area of one bigha, the resort is divided into three parts namely Chitwan Hall, Mid Hall and Town Hall. The Chitwan Hall has a capacity to accommodate 200 people, Mid Hall has a capacity of 700 people and Town Hall has a capacity of 2,000 people. Managing Director Ghimire said that the resort has made arrangements for short rest and nap for the passengers traveling through the highway.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14270', 'image' => '20211222052627_Untitled.jpg', 'article_date' => '2021-12-22 17:25:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14524', 'article_category_id' => '266', 'title' => 'Nepal Insurance Company launches ‘Nepal Kai Number 1’ Campaign', 'sub_title' => '', 'summary' => 'December 22: Nepal Life Insurance Company has launched the campaign ‘Nepal Kai Number 1’ claiming the company to be the number one in the sector of life insurance.', '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"">December 22: Nepal Life Insurance Company has launched the campaign ‘Nepal Kai Number 1’ claiming the company to be the number one in the sector of life insurance. The company has claimed that the majority of indicators have proven Nepal Life Insurance to be the best in the insurance sector.</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 company, till the end of the first quarter of fiscal year 2078/79, it has the highest life insurance fund of Rs 118.76 billion, the highest number of issued insurance premiums of Rs 2.98 million, the highest claim payment of Rs 40.50 billion and the highest paid-up capital of Rs 7.19 billion.</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"">Sushil Kumar Chaudhary, the acting chief executive officer of the company said that the 'Nepal Kai Number 1' campaign has been launched from December 21 to raise awareness among the people about the importance of life insurance.</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"">Acting CEO Chaudhary said, “We want to spread awareness among the general public about the importance and necessity of life insurance. We want everyone to know and see the benefits that life insurance provides for ensuring the future of themselves and those associated with them.”</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"">Chaudhary hoped that the initiated campaign would win the trust of all.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14269', 'image' => '20211222051117_jbb.jpg', 'article_date' => '2021-12-22 17:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14523', 'article_category_id' => '266', 'title' => 'IME Life Insurance organizes “Business Excellence Awards 2021”', 'sub_title' => '', 'summary' => 'December 22: IME Life Insurance Company organized its annual ‘Business Excellence Awards, 2021’ in Kathmandu. ', '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"">December 22: IME Life Insurance Company organized its annual ‘Business Excellence Awards, 2021’ in Kathmandu. The slogan for the program this year was “Hand in Hand for an Excellent Future”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the award, the insurance company honoured the best agents and agencies for performing excellent work in the fiscal year 2077/78. A total of eight agency managers, 32 agents qualified for MDRT and agents selected from different categories from among 24,500 agents were honored during the awards ceremony, according to the company.</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 company informed that more than 300 agents were present during the program. At the event, Manisha Koirala, the brand ambassador of the company, commented that such programs aid in motivating agents to perform actively in this sector.</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 program was organized with the goal of enhancing the capacity of agents, motivating them, and encouraging the agents.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14268', 'image' => '20211222050532_BEA-Group-Phddoto-1536x546.jpg', 'article_date' => '2021-12-22 17:04:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14522', 'article_category_id' => '1', 'title' => 'Liquidity Crisis having Implications on Business Sector: CIM', 'sub_title' => '', 'summary' => 'December 22: The Chamber of Industries, Morang (CIM) has drawn the attention of Nepal Rastra Bank (NRB) citing that the current liquidity crisis in financial sector is having implications in the operation of business sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 22: The Chamber of Industries, Morang (CIM) has drawn the attention of Nepal Rastra Bank (NRB) citing that the current liquidity crisis in financial sector is having implications in the operation of business sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the Chamber Suyash Pyakurel and his delegation on Tuesday met with NRB Governor Maha Prasad Adhikari requesting for the central bank’s intervention in the crisis to build conducive atmosphere for trade and industrial sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pyakurel apprised the governor that banks and financial institutions were finding hard to issue a letter of credit for importing industrial raw materials and they expressed fear that a day would come when they will have to suspend production in the lack of raw materials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In response, the Governor Adhikari pledged to address the issues hampering to open the LC for the regular supplies of raw materials required for industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Responding to the delegation’s request for discouraging the import of luxury goods, the NRB Governor said the central bank would bring several fiscal measures into practice to save the nation’s economy from the impact of liquidity crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single digit interest rate in loans for productive sector, and the effective implementation of provisions of re-finance and soft loans were among the demands put forth by the delegation before the NRB Governor. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The delegation comprised senior vice president Pradeep Murarka, vice-presidents Raj Kumar Golchha, Nanda Kishor Rathi and executive committee member Sushil Rijal among others. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14267', 'image' => '20211222045734_Chamber of industries morang new.jpg', 'article_date' => '2021-12-22 16:56:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
