December 22: Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale has said that state-owned Nepal Airlines Corporation (NAC) will not be…
December 22: Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale has said that state-owned Nepal Airlines Corporation (NAC) will not be…
December 22: Commercial banks listed in the Nepal Stock Exchange (NEPSE) have announced to pay dividend to investors from the last fiscal year's…
December 21: Radisson Hotel celebrated the Christmas Tree Lighting Ceremony on December 19 to welcome the holiday season of…
December 21: Nepal Rastra Bank (NRB) has made it mandatory to keep cash margin when opening letter of credit (LC) for importing luxury…
December 21: Hami Nepal, a youth-led non-profit organization, on Monday launched its website with the aim of maintaining transparency of the donated funds and all the expenses of the…
December 21: Nepal has received foreign investment commitment of Rs 30 billion in the first five months of the current fiscal year that began on July…
December 21: The production of mustard has increased in Chitwan district with the increase in area of…
December 21: Nepal's tourism promotion in China has been stalled since the past two years due to the Covid-19…
December 21: Minister for Education, Science and Technology Devendra Paudel has said it is high time for soul-searching on whether the skills and knowledge obtained from higher education have been limited to certificate in the context of…
December 21: The ownership transfer of fifty percent shares of Khimti Hydropower Project to the government has been delayed due to lack of consensus between the NEA and the promoter company.…
December 20: The entrepreneurs and businessmen of Biratnagar are obliged to pay taxes under different headings if they make profits above 20 percent.…
December 20: A fire that broke out in the sixth floor of a commercial complex at New Baneshwor, Kathmandu gutted properties worth over Rs 30.5 million on…
December 20: The registration of micro, cottage and small scale industries have increased across the country amid the covid-19…
December 20: Water supply in the Kathmandu Valley is less than one third of the demand.…
December 20: The demand for electricity has increased significantly in the domestic market, thanks to the effective policy of the government and practical action plan among other initiatives.…
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He also said that the Government of Nepal would assist NAC in adding new aircraft to its fleet. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During a meeting with NAC officials on Tuesday, Tourism Minister Ale said that the number of aircraft would be increased and the fares would be made competitive.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister Ale also directed officials of NAC to allocate at least 40 low-fare tickets for Nepali migrant workers going abroad for foreign employment. Currently, NAC has been offering 20 such seats to the migrant workers bound for foreign countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister Ale also asked the NAC team to prevent intermediaries from providing air tickets to the migrant workers at the NAC premises. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the interaction, secretary at the ministry, Maheshwor Neupane, instructed the NAC to concentrate on profit-making through maximum utilization of its available means, resources and human resources in line with business plan. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Yubaraj Adhikari, executive chairman of NAC, informed that the corporation has been granted permission to transport dangerous goods due to its safety commitments. He added that the NAC has gained worldwide recognition after bilateral agreements with international airliners to use NAC’s ticket for flights to Europe and other destinations. He also said that the corporation has helped expand the market of Nepali products in the international market by opening a sales center.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Stating that the regularity of flights has increased and the number of passengers has also reached 80 percent of the seating capacity, he said that the process of flying to Riyadh in the Middle East has also reached the final stage of agreement. (With inputs from RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14266', 'image' => '20211222044711_20211112081930_20210709080354_20180727021334_2.jpg', 'article_date' => '2021-12-22 16:46:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14519', 'article_category_id' => '1', 'title' => 'Commercial Banks listed in NEPSE Declare Dividends', 'sub_title' => '', 'summary' => 'December 22: Commercial banks listed in the Nepal Stock Exchange (NEPSE) have announced to pay dividend to investors from the last fiscal year's profit. ', '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: Commercial banks listed in the Nepal Stock Exchange (NEPSE) have announced to pay dividend to investors from the last fiscal year's profit. </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"">Out of the total 27 commercial banks of the country, 26 listed in NEPSE have declared dividend including cash and bonus shares from the distributable profit of the fiscal year 2077/78. Some of the declared dividends have been decided by the banks after holding general assembly and some of them are preparing for the general assembly to make the announcement. </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 figures made public so far, Nabil Bank is set to distribute the highest dividend comprising 33.6 percent bonus shares and 4.4 percent cash dividend. Similarly, Civil Bank will be giving away dividend of 5.26 percent on the basis of last year's distributable profit. The bank has stated that out of the declared dividend, five percent will be bonus shares and 0.26 per cent will be cash. </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 Himalayan Bank will award 21.38 percent bonus share and 4.62 percent cash dividend to its investors. Agriculture Development Bank has decided to distribute 21.0526 percent dividend with 20 percent bonus and 1.56 percent cash. Sanima Bank has announced 17 percent bonus and 0.8947 percent cash, Nepal Bank is giving 14 percent bonus and 3 percent cash, Prime Commercial Bank will give 16 percent bonus and 0.6313 percent cash. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Nepal Investment Bank has stated that it will distribute 16 percent dividend with 12.611 percent bonus and 3.389 percent cash and Citizens Bank will distribute 16 percent dividend with 12.913 bonus and 3.87 percent cash. </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 NMB Bank has offered its shareholders 12.5 per cent bonus shares and 3.3 per cent cash dividend, NIC Asia Bank will give 15 per cent bonus and 0.7895 per cent cash, Nepal Bangladesh Bank is proving 12 per cent bonus shares and 3 per cent cash. Siddhartha Bank will give 14.25 per cent bonus shares and 0.75 percent cash, Machhapuchche Bank has announced 14 percent dividend with 13.3 percent bonus and 0.7 percent cash, Bank of Kathmandu will provide 10 percent bonus and four percent cash. Global IME Bank has announced a 13.5 percent dividend with 10 percent bonus and 3.5 percent cash while Standard Chartered Bank has announced 13.6 percent dividend with 10 percent bonus and 3.6 percent cash. </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"">Prabhu Bank, Mega Bank, Laxmi Bank, Everest Bank, Kumari Bank, Nepal Credit and Commerce Bank (NCC), Sunrise Bank and Century Bank, Nepal SBI Bank have also announced dividend shares and cash bonus. </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"">Out of the declared dividend, the cash is deposited directly in the bank account while bonus shares will be entered into demat account provided by the investor. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14265', 'image' => '20211222104354_dividend.jpg', 'article_date' => '2021-12-22 10:43:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14517', 'article_category_id' => '266', 'title' => 'Radisson Hotel Marks Christmas Tree Lighting Ceremony', 'sub_title' => '', 'summary' => 'December 21: Radisson Hotel celebrated the Christmas Tree Lighting Ceremony on December 19 to welcome the holiday season of tourists.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 21: Radisson Hotel celebrated the Christmas Tree Lighting Ceremony on December 19 to welcome the holiday season of tourists. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subrata Banerjee, the general manager of Radisson Hotel, officiated the ceremony which was marked with Christmas carol played by professionals. Issuing a statement, the hotel said that the most anticipated moment of the ceremony was lighting the Christmas Tree. The honors were done by Alina B Novikova, spouse of Russian Ambassador to Nepal, the statement further said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Tree%20Lighting%202.jpeg" style="height:533px; width:800px" /></span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The special attractions of the ceremony included live Christmas carol along with display of ginger bread house, jingle bells, Christmas delicacies and Santa Claus spreading joy among all the invitees with other fun filled festive activities. According to the hotel, all of the attendees had a good time filled with joy at the ceremony.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Tree%20Lighting%204.jpeg" style="height:533px; width:800px" /></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14263', 'image' => '20211221083225_Tree lighting.jpeg', 'article_date' => '2021-12-21 20:30:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14520', 'article_category_id' => '1', 'title' => 'NRB Demands Cash Margin for Opening LC to Import Goods', 'sub_title' => '', 'summary' => 'December 21: Nepal Rastra Bank (NRB) has made it mandatory to keep cash margin when opening letter of credit (LC) for importing luxury goods.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 21: Nepal Rastra Bank (NRB) has made it mandatory to keep cash margin when opening letter of credit (LC) for importing luxury goods. Such measure was introduced to control the declining foreign exchange reserves. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB issued a directive for its own banking department, provincial offices, commercial banks and national level banks on December 20 and introduced the new provision. When banks open LC for the purpose of importing the goods, they need to take into consideration cash margin from the importer.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has implemented such provisions for the import of goods with various harmonic codes. When importing goods with harmonic codes 0907, 17, 22, 24, 3303, 3304, 3305, 44, 64, 65, 66, 67, 68, 69, 7010, 7106, 8703, 8711, 9403 and 9504.40.00 margin of fifty percent to cent percent should be available. Likewise, while importing items with codes from 8703 to 8711, fifty percent margin should be available.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has directed to keep a hundred percent cash margin on other items. NRB has introduced such provisions for the import of silver, motorcycles, vehicles, sugar, metal furniture, water, lead products, make-up and other items.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NRB interest can't be paid on such margin. Also, it has instructed that loans cannot be disbursed for the purpose of keeping margin amount. Banks are required to take margin amount at the time of opening the LC and the amount can be used to pay for imports.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This provision will not apply on imports of medical products. Similarly, this provision will not be applicable to the items imported by the government authorities, diplomatic missions and hospitals.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has made the new provision in view of the declining foreign exchange reserves. Lately, foreign exchange reserves have been steadily declining particularly through imports. As a result, the balance of payments has also incurred a loss of Rs 150 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Gunakar Bhatt, Spokesperson of NRB said the flow of foreign currencies is increasing with the increase in imports. This is having impact on foreign exchange reserves and the balance of payments. The recent decision has been taken to control imports. According to the central bank, this provision will be removed once the situation normalizes. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Some banks are already taking margins when opening LCs for import of various commodities. The central bank has introduced the provision in paper as a short term solution.</span></span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14262', 'image' => '20211222044615_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-22 16:45:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14516', 'article_category_id' => '266', 'title' => 'Hami Nepal Pledges to Maintain Transparency through its Website', 'sub_title' => '', 'summary' => 'December 21: Hami Nepal, a youth-led non-profit organization, on Monday launched its website with the aim of maintaining transparency of the donated funds and all the expenses of the organization.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">December 21: Hami Nepal, a youth-led non-profit organization, on Monday launched its website with the aim of maintaining transparency of the donated funds and all the expenses of the organization. According to a statement issued by Hami Nepal, the website was launched on the occasion of the first AGM of the organisation held at Hotel Badagaon in Bhaktapur.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">The statement further said that the main objective of the AGM was to pay respect to its volunteers and all the well-wishers who have been supporting them since their establishment in 2015. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"><img alt="" src="/app/webroot/userfiles/images/PIC%202.jpg" style="height:533px; width:800px" /></span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">President of the organization Sudan Gurung said that the purpose of the organization is to have a positive impact on society by “changing how we think about others and how we connect – changes that are more important than ever. Our group also serves as a voice for those who have no one else to speak for them.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">Gurung, on behalf of his entire team, expressed gratitude to all the donors and volunteers from all over the world who have shown endless support and love to make their vision a success.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"> “We believe that the website will help build more trust in our organization as it is a verifying platform for all the donors to keep track of their donations. It will also connect donors and the recipients directly,” said Gurung, adding, “Furthermore, the website will be a transparent platform where donors can check the status of past and ongoing projects.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">On the occasion, Hami Nepal honored the guests including Dr Sanduk Ruit (Chairman of Barbara Foundation), Deepak Bhatta (Chairman of Infinity Holdings), Upendra Hirawat (Director of Infinity Holdings), Sulav Agrawal (Vice Chairman of Shankar Group), Sahil Agrawal (Managing Director of Shanker Group), who have continuously helped the organization to reach its goals of selflessly serving the needy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"><img alt="" src="/app/webroot/userfiles/images/PIC%204.jpg" style="height:533px; width:800px" /></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14261', 'image' => '20211221051757_PIC 3.jpg', 'article_date' => '2021-12-21 17:15:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14515', 'article_category_id' => '1', 'title' => 'Nepal Receives Investment Pledges of Rs 30 Billion in Current FY', 'sub_title' => '', 'summary' => 'December 21: Nepal has received foreign investment commitment of Rs 30 billion in the first five months of the current fiscal year that began on July 16. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 21: Nepal has received foreign investment commitment of Rs 30 billion in the first five months of the current fiscal year that began on July 16. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the data unveiled by the Department of Industries, foreign investors have committed to invest around Rs 30 billion in 122 industries in the past five months (July 16 to December 7) of the current fiscal year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department’s information officer Gyanendra Parajuli said those industries have been registered under six different categories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The highest commitment is for the service-oriented sector as investors have pledged Rs 15.95 billion for 35 industries under this category. Towards the service sector, pledges have been received from China (Rs 600 million for four industries based on agriculture and forest products), from Netherlands (Rs 56 million for energy-based industry and Rs 450 million for four industries relating to information, communications and broadcasting service. Likewise, Rs 3.24 billion has been pledged for 19 production-based industries and Rs 9.55 billion for 55 tourism industries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China is the country that has pledged the highest investment (around 80 percent) in Nepal in the review period. China has pledged for investment of over Rs 23.64 billion in 102 industries. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14260', 'image' => '20211221045946_20210113033332_foreign-investment.jpg', 'article_date' => '2021-12-21 16:59:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14514', 'article_category_id' => '1', 'title' => 'Mustard Production Increasing in Chitwan District', 'sub_title' => '', 'summary' => 'December 21: The production of mustard has increased in Chitwan district with the increase in area of plantation.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: The production of mustard has increased in Chitwan district with the increase in area of plantation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the statistics of the Directorate of Agricultural Development, 12,180 metric tons of mustard was produced on 12,255 hectares of land in the fiscal year 2076/77. In the last fiscal year (FY 2077/78), a total of 12,218 metric tons of mustard was produced on 12,260 hectares of land.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As mustard has been planted in 12,270 hectares of land in the current fiscal year, the production is expected to increase this year as well. “The weather is favorable now, the mustard flowers are in good condition and there is no frost. It is likely that the production will increase,” said Yuvraj Pandey, head of the Directorate of Agricultural Development, Chitwan. Lately, farmers have been attracted towards mustard farming.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Madhav Poudel, information officer at the Prime Minister's Agriculture Modernization Project, Chitwan said that the increase in production was due to the increase in attraction towards mustard farming and the implementation of pocket and block programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“The demand and price of mustard has also increased,” he said, adding, “That is why the farmers have started cultivating mustard instead of other crops.” According to Poudel, a mustard block program has been introduced in Madi of the district this year. Poudel says that there will be an increase in production this year due to good flowering and good pollination.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the last few fiscal years, the area for mustard plantation was fluctuating which directly impacted mustard production. In the fiscal year 2074/75, mustard farming was done on 12,251 hectares of land while the production was 12,200 metric tons and in the fiscal year 2075/76, mustard was planted on 12,260 hectares of land with an output of 12,300 metric tons of mustard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The production of mustard planted in the district has been fluctuating. According to the Directorate of Agricultural Development, the production of mustard was fluctuating due to changes in irrigation, fertilizer and seasonal adaptations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Center, productivity per hectare is estimated to be 995.83 kg in fiscal year 2074/75, 1003.26 kg in FY 2075/76, 993.88 kg in FY 2076/77, 996.57 kg in FY 2077/78 and 1000 kg in the current Fiscal Year. It is estimated that 10 metric tons more will be produced this year as the area under mustard cultivation has increased by 10 hectares as compared to last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In Chitwan, mustard and sesame are planted in the category of oilseeds. Local as well as varieties of mustard are grown here. Oilseeds are planted in about 28 percent of the cultivable land in the district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14259', 'image' => '20211221011631_5632idea99mustard.jpg', 'article_date' => '2021-12-21 13:15:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14513', 'article_category_id' => '1', 'title' => 'Nepal's Tourism Promotion in China Stalled since Covid-19 Outbreak', 'sub_title' => '', 'summary' => 'December 21: Nepal's tourism promotion in China has been stalled since the past two years due to the Covid-19 outbreak.', '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 21: Nepal's tourism promotion in China has been stalled since the past two years due to the Covid-19 outbreak. Although the number of Chinese tourists visiting Nepal is the highest after Indian tourists, Nepal's tourism entrepreneurs have yet to conduct any publicity and marketing activities in China since the outbreak of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first week of November 2019, government officials and tourism entrepreneurs of Nepal were in China to promote the Visit Nepal 2020 campaign. Since then, Nepal has not made any promotion campaigns in China. Tourism entrepreneurs say they are yet to promote Nepali tourism in China due to the Covid-19 outbreak, lockdown, and restrictions. Strict policies in China have also affected promotion plans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sajan Shakya, general secretary of the Hotel Association of Nepal (HAN), said that he visited China for tourism promotion at the end of 2019 and is yet to make any further visit. He said that it is necessary to stress on publicity in China in the current market strategy. In the 'Nepal Tourism Statistics-2020' index, Myanmar has risen to the second position in 2020, surpassing China as the second-largest tourist destination in Nepal in 2019.</span></span></span></span></p> <p><span style="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 number of tourists coming from China has gradually increased since 2016. However, the number has dropped dramatically since 2020. Around 170,000 Chinese tourists visited Nepal in 2019 which declined to 19,000 in 2020. As of November 2021, altogether 3,239 Chinese tourists visited Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the number of tourists from other countries increased in 2021, arrival of Chinese tourists has not improved.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14258', 'image' => '20211221113521_20210629020224_20210402.jpg', 'article_date' => '2021-12-21 11:34:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14511', 'article_category_id' => '1', 'title' => 'Is Nepal's Education becoming Limited to Certificates? ', 'sub_title' => '', 'summary' => 'December 21: Minister for Education, Science and Technology Devendra Paudel has said it is high time for soul-searching on whether the skills and knowledge obtained from higher education have been limited to certificate in the context of Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 21: Minister for Education, Science and Technology Devendra Paudel has said it is high time for soul-searching on whether the skills and knowledge obtained from higher education have been limited to certificate in the context of Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Paudel made such remark while addressing the 47th Convocation Day of the University on Monday, December 20. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, he expressed concerns regarding brain-drain and said that the country's skilled human resources are compelled to go abroad seeking employment opportunities at a time when Nepal needs to bring the knowledge and experiences from across the world scenario into the country for the nation's development. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"I wonder whether it is the educational programmes and contents of our universities that are not matching the requirements of our life or is it that we only have confined the skills and knowledge we learned to certificate alone and failed to translate them into practice. It is time to ponder over this matter," the state-owned national news agency RSS quoted the education minister as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He suggested the graduates who have got their degrees to use the skills they have learned to bring about improvement in the society, by synchronizing the knowledge learned with the world scenario and local needs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Education Minister Paudel reportedly said that Nepal could not move forward on the path of development as per the expectation because the available means and resources at its disposal could not be utilized in a judicious manner in spite of its cultural, geographical and natural diversities and richness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Education Minister and TU Pro-Chancellor urged the TU, the country's biggest and oldest university, to address the issues of poverty and unemployment by providing a world-class education. He suggested the university to make its research institutions more effective. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, Education Minister Paudel underscored the need of linking education to skills and skills to production and employment to stop large amount of money going abroad in the name of higher and quality education. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14257', 'image' => '20211221081849_education.jpg', 'article_date' => '2021-12-21 08:18:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14512', 'article_category_id' => '1', 'title' => 'Ownership Transfer of Khimti Hydropower Project Delayed', 'sub_title' => '', 'summary' => 'December 21: The ownership transfer of fifty percent shares of Khimti Hydropower Project to the government has been delayed due to lack of consensus between the NEA and the promoter company. ', 'content' => '<p><span style="font-size:18px">December 21: The ownership transfer of fifty percent shares of Khimti Hydropower Project to the government has been delayed due to lack of consensus between the NEA and the promoter company. As per the agreement reached between the government and the promoter company, Himal Power, fifty percent shares of the project should be owned by Nepal Electricity Authority from July 11, 2020. However, the transfer has not taken place.</span></p> <p><span style="font-size:18px">The officials of the Ministry of Energy, Water Resources and Irrigation and NEA said that discussions are still underway for the transfer of share ownership. They have been in discussions with the promoter company for the last two years. However, no concrete decision has been made. </span></p> <p><span style="font-size:18px">Spokesperson of the Ministry and Joint Secretary Madhu Prasad Bhetuwal said that discussions are underway to transfer ownership of the Khimti project. Both the parties are yet to reach agreement on some issues. "Following the share transfer, the same company is required to take responsibility for the operation of the project which the company has objected to," he said. </span></p> <p><span style="font-size:18px">Meanwhile, Kulman Ghising, managing director of NEA, said that the process of share transfer has been delayed due to Himal Power Company. “We are negotiating on issues like PPA, but the delay is due to their side," he said.</span></p> <p><span style="font-size:18px">The COVID-19 pandemic has also delayed the transfer of ownership. Himal Power Company includes foreign investors, and the COVID-19 restrictions prevented physical meetings for a long time.</span></p> <p><span style="font-size:18px">Hydropower projects built by the private sector should be handed over to the government after a certain period of time. This is the first project being handed over to the government by the private sector so it is being looked upon with high priority.</span></p> <p><span style="font-size:18px">Bhetuwal also claimed the government is working on this issue giving due importance. "This is the first hydropower project being handed over to the government. So a wrong precedence should not be established,” he added. <br /> In order to complete the process of share transfer, it is necessary to establish a joint venture company owned by both the authority and the promoter company. Then the company will sign a power purchase agreement (PPA) with NEA. However, such joint company has yet to be established. Also, the two sides have not reached an agreement on PPA. However, both sides have agreed that the current PPA rate will be decided in terms of Nepali currency. The law forbids PPA of projects below 100 MW capacity in foreign currency. </span></p> <p><span style="font-size:18px">This is the first privately funded hydropower project with investment from companies including Butwal Power Company Limited of Nepal, Statkraft SF of Norway and Alstom Power S. <br /> An agreement was signed between the then government and the company to transfer 50 percent shares of the project to NEA after twenty years of production. After fifty years of operation of the project, NEA will have full ownership of the project.</span></p> <p><span style="font-size:18px">Currently, the project is being operated by signing an interim agreement between Himal Power and NEA. <br /> The interim agreement between NEA and Himal Power Company has been extended till mid-July 2022 as the transfer of ownership could not be completed on time. Ghising believes the transfer of ownership will be completed by mid-July.</span></p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14256', 'image' => '20211221112231_20210823010727_20210119023725_1611012723.Clipboard02.jpg', 'article_date' => '2021-12-21 11:21:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14509', 'article_category_id' => '1', 'title' => 'CNI Calls for Capping Profits of Banks', 'sub_title' => '', 'summary' => 'December 20: The entrepreneurs and businessmen of Biratnagar are obliged to pay taxes under different headings if they make profits above 20 percent. ', '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 20: The entrepreneurs and businessmen of Biratnagar are obliged to pay taxes under different headings if they make profits above 20 percent. Meanwhile, this policy is not applicable for banks. The banks can earn as much as they want and are exempt of paying extra taxes. The Confederation of Nepalese Industries (CNI) has called upon the concerned authorities to cap the profits made by the banks as well.</span></span></span></span></p> <p><span style="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 president of Province 1 chapter of CNI, Bhim Ghimire, along with other businessmen has warned the government that they will start protest if this unfair treatment continues. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> “We want to draw your attention to take the initiative to keep the banks’ interest rate unchanged from single digit and to keep the interest rate system stable and sustainable until the country's economic situation improves so as not to affect investors who have already invested in manufacturing industries and infrastructure projects,” said Ghimire.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ghimire accused that the banks are getting motivated to earn profits like businessmen instead of being a medium to uplift the nation's economy.</span></span></span></span></p> <p><span style="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 statement issued by the CNI says that the banks in Nepal have become profit-oriented just like the rich merchants of ancient period. The confederation has also stated that banks and financial institutions are the main reason for the economic turmoil and inability to build capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> “How long will the investors and the general public have to suffer due to the banks increasing interest rates showing the problem of lack of liquidity?” the statement said, adding, “We are beginning to realize that the industry is collapsing in the game of raising and lowering interest rates every month and that the government and the central bank are only taking care of the banks”.</span></span></span></span></p> <p><span style="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 industrialists have also demanded that the investors of banks and the investors of industries should be different. President Ghimire questioned that since the investors of banks as well as industries are the same, does the central bank have any idea about where and how the economic activities of the country is heading towards? “We want to make sure that the central bank and the government do not ignore this,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mahesh Jaju, senior advisor to the confederation, said that the banks have stopped opening LCs for foreign trade and imports. He claimed that the trade of the country would come to stand still and cause a problem in supply of materials due to this activity of the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We are appealing to the government to prevent the country's economy from coming to a standstill, otherwise we will be forced to protest on the streets,” said Jaju adding that this will cause a reduction of government revenue.</span></span></span></span></p> <p><span style="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 a recent press conference, Pawan Sarda, a member of the Constituent Assembly and former president of the Morang Trade Association and patron of CNI, said that there are problems occurring in imports of goods due to the banks. According to Sarda, the image of Nepali importers and exporters in international business has been tarnished due to the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“After submitting documents to open an LC of Rs 200 million, the banks are demanding a deposit of Rs 50 million in advance,” said Sarda with the adding, “If we had 50 million, why would we seek loan?” He said that if the banks were reluctant to open ASL for foreign trade for a long time, the industries would automatically close down due to the lack of raw materials.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14255', 'image' => '20211220045505_Banks.jpg', 'article_date' => '2021-12-20 16:54:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14510', 'article_category_id' => '1', 'title' => 'Fire Destroys Properties worth Rs 30.5 Million in Indreni Complex ', 'sub_title' => '', 'summary' => 'December 20: A fire that broke out in the sixth floor of a commercial complex at New Baneshwor, Kathmandu gutted properties worth over Rs 30.5 million on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 20: A fire that broke out in the sixth floor of a commercial complex at New Baneshwor, Kathmandu gutted properties worth over Rs 30.5 million on Monday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to a preliminary investigation of the police, the fire erupted due to electric short circuit in an inverter of a fitness and spa centre in the sixth floor of the Indreni complex. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">SP Dineshraj Mainali of the Metropolitan Police Range, Kathmandu, said the fire has been doused by five fire brigades called in from Kathmandu, Lalitpur and Bhaktapur. -- RSS </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14254', 'image' => '20211220085054_Untitled.jpg', 'article_date' => '2021-12-20 20:50:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14508', 'article_category_id' => '1', 'title' => 'Registration of SMEs Doubled in a Year ', 'sub_title' => '', 'summary' => 'December 20: The registration of micro, cottage and small scale industries have increased across the country amid the covid-19 pandemic.', '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 20: The registration of micro, cottage and small scale industries have increased across the country amid the covid-19 pandemic. According to the ‘Micro, Cottage and Small Industries Statistics 2020/21’ released by the Department of Industry a few days ago, the registration of such industries has increased significantly in the last fiscal year as compared to the previous year. The department also informed that the investment in SMEs have also increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statistics show that a total of 83,386 industries were registered in 77 districts during the review period, which is almost double the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The proposed total capital of the registered companies last year was Rs 185.20 billion and it is estimated that those industries will create employment for 311,693 people after they come into operation. </span></span></span></span></p> <p><span style="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 fiscal year 2076/77, a total of 45,854 industries were registered across the nation. Likewise, the proposed capital of all those industries was Rs 111.15 billion. These registered industries were expected to provide employment to 169,771 after their operation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Pushparaj Shivakoti, a statistics officer involved in writing the report, says that the number of registered industries has also increased as the number of youths who want to do something in the country has increased after the pandemic. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the statistics of the two fiscal years, the total number of micro, cottage and small industries has reached more than 487,000 so far. </span></span></span></span></p> <p><span style="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 highest number of such industries have been registered in Bagmati Province (32 percent) and the lowest in Karnali Province.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> As per the data of the department, only 5 percent micro, cottage and small industries have been registered in Karnali. Likewise, 17 percent of such industries are registered in Lumbini, The registration of such industries in Province 1 and Province 2 is 14 percent each while 11 percent of industries have been registered in Gandaki Province and 7 percent in Far Western Province.</span></span></span></span></p> <p><span style="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 small scale industries have been catagorised into eight different sections. Among them, manufacturing, agriculture and forestry, tourism and service sectors have the highest number of registered industries. </span></span></span></span></p> <p><span style="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 highest number of registered industries are service-oriented industries and the lowest is the IT industry. So far, 178,662 service-oriented industries have been registered. </span></span></span></span></p> <p><span style="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 department has included the registration from the fiscal year 2051/52 in this report. </span></span></span></span></p> <p><span style="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 Federation of Nepalese Chambers of Commerce and Industry, such industries have contributed about 22 percent to the gross domestic product (GDP) and there are more than 2.5 million entrepreneurs. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14253', 'image' => '20211220020347_20200923125807_1198.jpg', 'article_date' => '2021-12-20 14:02:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14507', 'article_category_id' => '1', 'title' => 'Water Supply in Kathmandu Valley Less than One Third of Demand ', 'sub_title' => '', 'summary' => 'December 20: Water supply in the Kathmandu Valley is less than one third of the demand. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 20: Water supply in the Kathmandu Valley is less than one third of the demand. The Kathmandu Upatyaka Khanepani Limited (KUKL) distributes around 130 million litres of water on a daily basis, despite the demand of around 430 million litres of water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The supply further goes down during the dry season in March, April and May as the distribution is around 110 million liters. During rainy season, the distribution reaches up to 160 million litres. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shortage of drinking water is a perennial issue in the Kathmandu Valley since a long time. The Valley denizens are forced to seek alternative sources for water for daily needs as the supply from the KUKL is insufficient. Sometimes, the distribution remains halted for many days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to KUKL, 237,000 taps have been fixed in the Valley. Water taps fixed illegally are also found in many areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Water from Sundarijal, Mahadevkhola, Nakhhu, Shesh Narayan, Hititole, Saatmul, Kuturi, Devaki, Basuki, Balkhu River, Muldole, Charghare, Bishnumati, Panchmane, Chhahare, and Alle is collected and distributed in the Kathmandu. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In some areas, underground water is supplied as water collected from natural resources is insufficient At present, underground water is pulled from around 80 locations for the distribution. The KUKL is preparing to add around 10 million of underground water in the supplies from this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A study shows that the demand for water increases by some 10 per cent each year in the Kathmandu Valley. Growing population, a rise in the physical construction works and drying natural water resources have posed challenges to the water supply system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Kathmandu Valley Water Supply Management Board and the KUKL have signed a 30-year agreement beginning from February 13, 2008. As per the agreement, the KUKL is responsible for water supply in the Valley. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14252', 'image' => '20211220110034_20210726100917_20200903113103_1599056781.jpg', 'article_date' => '2021-12-20 10:59:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14506', 'article_category_id' => '1', 'title' => 'Demand for Electricity Increasing Every Year: NEA', 'sub_title' => '', 'summary' => 'December 20: The demand for electricity has increased significantly in the domestic market, thanks to the effective policy of the government and practical action plan among other initiatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 20: The demand for electricity has increased significantly in the domestic market, thanks to the effective policy of the government and practical action plan among other initiatives. The demand for electricity has been increasing by 20 per cent every year on an average, according to Nepal Electricity Authority (NEA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The NEA informed that the internal demand for electricity has suddenly increased due to the steps taken to increase the electricity demand and the increase in cold weather. The peak demand for electricity this year has increased compared to the previous year and it is in the range of 300 megawatts. NEA has adopted the policy of promoting the use of electric appliances and to provide the required energy to the industries with the aim of increasing the domestic consumption of electricity following a surplus of electricity in the market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The big industries have been supplied with electricity as per their demand and this has helped enhance their production capacity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NEA has provided 30 megawatts of electricity to Hongshi Cement Industry, the largest cement factory in the country, since the second week of November. Another cement factory with Chinese investment, Huashin Cement Industry, has also taken 20 megawatts electricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Electricity demand capacity both in terms of megawatts and energy units is found increasing. For instance, the peak demand in the system on December 13 was 1,539 megawatts whereas the peak demand on the same day last year was 1,217 megawatts – an increase of 322 megawatts. On this basis, the peak demand for electricity has increased by 26.5 per cent this year compared to the demand on the same date last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In order to meet the peak demand for electricity on December 13, NEA had managed 540 megawatts of electricity from its power houses, 529 megawatts from the powerhouses of its subsidiary companies and 425 megawatts from the private sector power houses, and imported 25 megawatts from India. Four megawatts electricity was exported to India even during peak time on that date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, electricity demand has also increased suddenly in the Kathmandu Valley and surrounding regions where there is high electricity consumption. The peak demand in the Valley last year was 293 megawatts and it has gone up to 382 megawatts this year. This shows that the demand for electricity has increased notably in the Kathmandu Valley as well. The use of electric induction ovens has increased in the Valley. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the basis of the energy demand, the electricity consumption was 27.2 million units on December 13, which is 28.65 per cent more compared to 21.1 million units on the same day last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14251', 'image' => '20211220105149_NEA.jpg', 'article_date' => '2021-12-20 10:51:15', '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' => '14521', 'article_category_id' => '1', 'title' => 'Tourism Minister Scraps Decision to Privatize NAC', 'sub_title' => '', 'summary' => 'December 22: Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale has said that state-owned Nepal Airlines Corporation (NAC) will not be privatized.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 22: Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale has said that state-owned Nepal Airlines Corporation (NAC) will not be privatized. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Informing that it was a ministerial decision not to privatize the NAC, he expressed his commitment to enhance the national flag bearer of Nepal. He also said that the Government of Nepal would assist NAC in adding new aircraft to its fleet. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During a meeting with NAC officials on Tuesday, Tourism Minister Ale said that the number of aircraft would be increased and the fares would be made competitive.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister Ale also directed officials of NAC to allocate at least 40 low-fare tickets for Nepali migrant workers going abroad for foreign employment. Currently, NAC has been offering 20 such seats to the migrant workers bound for foreign countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister Ale also asked the NAC team to prevent intermediaries from providing air tickets to the migrant workers at the NAC premises. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the interaction, secretary at the ministry, Maheshwor Neupane, instructed the NAC to concentrate on profit-making through maximum utilization of its available means, resources and human resources in line with business plan. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Yubaraj Adhikari, executive chairman of NAC, informed that the corporation has been granted permission to transport dangerous goods due to its safety commitments. He added that the NAC has gained worldwide recognition after bilateral agreements with international airliners to use NAC’s ticket for flights to Europe and other destinations. He also said that the corporation has helped expand the market of Nepali products in the international market by opening a sales center.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Stating that the regularity of flights has increased and the number of passengers has also reached 80 percent of the seating capacity, he said that the process of flying to Riyadh in the Middle East has also reached the final stage of agreement. (With inputs from RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14266', 'image' => '20211222044711_20211112081930_20210709080354_20180727021334_2.jpg', 'article_date' => '2021-12-22 16:46:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14519', 'article_category_id' => '1', 'title' => 'Commercial Banks listed in NEPSE Declare Dividends', 'sub_title' => '', 'summary' => 'December 22: Commercial banks listed in the Nepal Stock Exchange (NEPSE) have announced to pay dividend to investors from the last fiscal year's profit. ', '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: Commercial banks listed in the Nepal Stock Exchange (NEPSE) have announced to pay dividend to investors from the last fiscal year's profit. </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"">Out of the total 27 commercial banks of the country, 26 listed in NEPSE have declared dividend including cash and bonus shares from the distributable profit of the fiscal year 2077/78. Some of the declared dividends have been decided by the banks after holding general assembly and some of them are preparing for the general assembly to make the announcement. </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 figures made public so far, Nabil Bank is set to distribute the highest dividend comprising 33.6 percent bonus shares and 4.4 percent cash dividend. Similarly, Civil Bank will be giving away dividend of 5.26 percent on the basis of last year's distributable profit. The bank has stated that out of the declared dividend, five percent will be bonus shares and 0.26 per cent will be cash. </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 Himalayan Bank will award 21.38 percent bonus share and 4.62 percent cash dividend to its investors. Agriculture Development Bank has decided to distribute 21.0526 percent dividend with 20 percent bonus and 1.56 percent cash. Sanima Bank has announced 17 percent bonus and 0.8947 percent cash, Nepal Bank is giving 14 percent bonus and 3 percent cash, Prime Commercial Bank will give 16 percent bonus and 0.6313 percent cash. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Nepal Investment Bank has stated that it will distribute 16 percent dividend with 12.611 percent bonus and 3.389 percent cash and Citizens Bank will distribute 16 percent dividend with 12.913 bonus and 3.87 percent cash. </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 NMB Bank has offered its shareholders 12.5 per cent bonus shares and 3.3 per cent cash dividend, NIC Asia Bank will give 15 per cent bonus and 0.7895 per cent cash, Nepal Bangladesh Bank is proving 12 per cent bonus shares and 3 per cent cash. Siddhartha Bank will give 14.25 per cent bonus shares and 0.75 percent cash, Machhapuchche Bank has announced 14 percent dividend with 13.3 percent bonus and 0.7 percent cash, Bank of Kathmandu will provide 10 percent bonus and four percent cash. Global IME Bank has announced a 13.5 percent dividend with 10 percent bonus and 3.5 percent cash while Standard Chartered Bank has announced 13.6 percent dividend with 10 percent bonus and 3.6 percent cash. </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"">Prabhu Bank, Mega Bank, Laxmi Bank, Everest Bank, Kumari Bank, Nepal Credit and Commerce Bank (NCC), Sunrise Bank and Century Bank, Nepal SBI Bank have also announced dividend shares and cash bonus. </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"">Out of the declared dividend, the cash is deposited directly in the bank account while bonus shares will be entered into demat account provided by the investor. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14265', 'image' => '20211222104354_dividend.jpg', 'article_date' => '2021-12-22 10:43:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14517', 'article_category_id' => '266', 'title' => 'Radisson Hotel Marks Christmas Tree Lighting Ceremony', 'sub_title' => '', 'summary' => 'December 21: Radisson Hotel celebrated the Christmas Tree Lighting Ceremony on December 19 to welcome the holiday season of tourists.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 21: Radisson Hotel celebrated the Christmas Tree Lighting Ceremony on December 19 to welcome the holiday season of tourists. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subrata Banerjee, the general manager of Radisson Hotel, officiated the ceremony which was marked with Christmas carol played by professionals. Issuing a statement, the hotel said that the most anticipated moment of the ceremony was lighting the Christmas Tree. The honors were done by Alina B Novikova, spouse of Russian Ambassador to Nepal, the statement further said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Tree%20Lighting%202.jpeg" style="height:533px; width:800px" /></span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The special attractions of the ceremony included live Christmas carol along with display of ginger bread house, jingle bells, Christmas delicacies and Santa Claus spreading joy among all the invitees with other fun filled festive activities. According to the hotel, all of the attendees had a good time filled with joy at the ceremony.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Tree%20Lighting%204.jpeg" style="height:533px; width:800px" /></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14263', 'image' => '20211221083225_Tree lighting.jpeg', 'article_date' => '2021-12-21 20:30:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14520', 'article_category_id' => '1', 'title' => 'NRB Demands Cash Margin for Opening LC to Import Goods', 'sub_title' => '', 'summary' => 'December 21: Nepal Rastra Bank (NRB) has made it mandatory to keep cash margin when opening letter of credit (LC) for importing luxury goods.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 21: Nepal Rastra Bank (NRB) has made it mandatory to keep cash margin when opening letter of credit (LC) for importing luxury goods. Such measure was introduced to control the declining foreign exchange reserves. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB issued a directive for its own banking department, provincial offices, commercial banks and national level banks on December 20 and introduced the new provision. When banks open LC for the purpose of importing the goods, they need to take into consideration cash margin from the importer.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has implemented such provisions for the import of goods with various harmonic codes. When importing goods with harmonic codes 0907, 17, 22, 24, 3303, 3304, 3305, 44, 64, 65, 66, 67, 68, 69, 7010, 7106, 8703, 8711, 9403 and 9504.40.00 margin of fifty percent to cent percent should be available. Likewise, while importing items with codes from 8703 to 8711, fifty percent margin should be available.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has directed to keep a hundred percent cash margin on other items. NRB has introduced such provisions for the import of silver, motorcycles, vehicles, sugar, metal furniture, water, lead products, make-up and other items.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NRB interest can't be paid on such margin. Also, it has instructed that loans cannot be disbursed for the purpose of keeping margin amount. Banks are required to take margin amount at the time of opening the LC and the amount can be used to pay for imports.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This provision will not apply on imports of medical products. Similarly, this provision will not be applicable to the items imported by the government authorities, diplomatic missions and hospitals.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has made the new provision in view of the declining foreign exchange reserves. Lately, foreign exchange reserves have been steadily declining particularly through imports. As a result, the balance of payments has also incurred a loss of Rs 150 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Gunakar Bhatt, Spokesperson of NRB said the flow of foreign currencies is increasing with the increase in imports. This is having impact on foreign exchange reserves and the balance of payments. The recent decision has been taken to control imports. According to the central bank, this provision will be removed once the situation normalizes. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Some banks are already taking margins when opening LCs for import of various commodities. The central bank has introduced the provision in paper as a short term solution.</span></span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14262', 'image' => '20211222044615_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-22 16:45:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14516', 'article_category_id' => '266', 'title' => 'Hami Nepal Pledges to Maintain Transparency through its Website', 'sub_title' => '', 'summary' => 'December 21: Hami Nepal, a youth-led non-profit organization, on Monday launched its website with the aim of maintaining transparency of the donated funds and all the expenses of the organization.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">December 21: Hami Nepal, a youth-led non-profit organization, on Monday launched its website with the aim of maintaining transparency of the donated funds and all the expenses of the organization. According to a statement issued by Hami Nepal, the website was launched on the occasion of the first AGM of the organisation held at Hotel Badagaon in Bhaktapur.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">The statement further said that the main objective of the AGM was to pay respect to its volunteers and all the well-wishers who have been supporting them since their establishment in 2015. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"><img alt="" src="/app/webroot/userfiles/images/PIC%202.jpg" style="height:533px; width:800px" /></span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">President of the organization Sudan Gurung said that the purpose of the organization is to have a positive impact on society by “changing how we think about others and how we connect – changes that are more important than ever. Our group also serves as a voice for those who have no one else to speak for them.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">Gurung, on behalf of his entire team, expressed gratitude to all the donors and volunteers from all over the world who have shown endless support and love to make their vision a success.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"> “We believe that the website will help build more trust in our organization as it is a verifying platform for all the donors to keep track of their donations. It will also connect donors and the recipients directly,” said Gurung, adding, “Furthermore, the website will be a transparent platform where donors can check the status of past and ongoing projects.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">On the occasion, Hami Nepal honored the guests including Dr Sanduk Ruit (Chairman of Barbara Foundation), Deepak Bhatta (Chairman of Infinity Holdings), Upendra Hirawat (Director of Infinity Holdings), Sulav Agrawal (Vice Chairman of Shankar Group), Sahil Agrawal (Managing Director of Shanker Group), who have continuously helped the organization to reach its goals of selflessly serving the needy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"><img alt="" src="/app/webroot/userfiles/images/PIC%204.jpg" style="height:533px; width:800px" /></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14261', 'image' => '20211221051757_PIC 3.jpg', 'article_date' => '2021-12-21 17:15:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14515', 'article_category_id' => '1', 'title' => 'Nepal Receives Investment Pledges of Rs 30 Billion in Current FY', 'sub_title' => '', 'summary' => 'December 21: Nepal has received foreign investment commitment of Rs 30 billion in the first five months of the current fiscal year that began on July 16. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 21: Nepal has received foreign investment commitment of Rs 30 billion in the first five months of the current fiscal year that began on July 16. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the data unveiled by the Department of Industries, foreign investors have committed to invest around Rs 30 billion in 122 industries in the past five months (July 16 to December 7) of the current fiscal year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department’s information officer Gyanendra Parajuli said those industries have been registered under six different categories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The highest commitment is for the service-oriented sector as investors have pledged Rs 15.95 billion for 35 industries under this category. Towards the service sector, pledges have been received from China (Rs 600 million for four industries based on agriculture and forest products), from Netherlands (Rs 56 million for energy-based industry and Rs 450 million for four industries relating to information, communications and broadcasting service. Likewise, Rs 3.24 billion has been pledged for 19 production-based industries and Rs 9.55 billion for 55 tourism industries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China is the country that has pledged the highest investment (around 80 percent) in Nepal in the review period. China has pledged for investment of over Rs 23.64 billion in 102 industries. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14260', 'image' => '20211221045946_20210113033332_foreign-investment.jpg', 'article_date' => '2021-12-21 16:59:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14514', 'article_category_id' => '1', 'title' => 'Mustard Production Increasing in Chitwan District', 'sub_title' => '', 'summary' => 'December 21: The production of mustard has increased in Chitwan district with the increase in area of plantation.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: The production of mustard has increased in Chitwan district with the increase in area of plantation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the statistics of the Directorate of Agricultural Development, 12,180 metric tons of mustard was produced on 12,255 hectares of land in the fiscal year 2076/77. In the last fiscal year (FY 2077/78), a total of 12,218 metric tons of mustard was produced on 12,260 hectares of land.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As mustard has been planted in 12,270 hectares of land in the current fiscal year, the production is expected to increase this year as well. “The weather is favorable now, the mustard flowers are in good condition and there is no frost. It is likely that the production will increase,” said Yuvraj Pandey, head of the Directorate of Agricultural Development, Chitwan. Lately, farmers have been attracted towards mustard farming.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Madhav Poudel, information officer at the Prime Minister's Agriculture Modernization Project, Chitwan said that the increase in production was due to the increase in attraction towards mustard farming and the implementation of pocket and block programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“The demand and price of mustard has also increased,” he said, adding, “That is why the farmers have started cultivating mustard instead of other crops.” According to Poudel, a mustard block program has been introduced in Madi of the district this year. Poudel says that there will be an increase in production this year due to good flowering and good pollination.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the last few fiscal years, the area for mustard plantation was fluctuating which directly impacted mustard production. In the fiscal year 2074/75, mustard farming was done on 12,251 hectares of land while the production was 12,200 metric tons and in the fiscal year 2075/76, mustard was planted on 12,260 hectares of land with an output of 12,300 metric tons of mustard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The production of mustard planted in the district has been fluctuating. According to the Directorate of Agricultural Development, the production of mustard was fluctuating due to changes in irrigation, fertilizer and seasonal adaptations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Center, productivity per hectare is estimated to be 995.83 kg in fiscal year 2074/75, 1003.26 kg in FY 2075/76, 993.88 kg in FY 2076/77, 996.57 kg in FY 2077/78 and 1000 kg in the current Fiscal Year. It is estimated that 10 metric tons more will be produced this year as the area under mustard cultivation has increased by 10 hectares as compared to last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In Chitwan, mustard and sesame are planted in the category of oilseeds. Local as well as varieties of mustard are grown here. Oilseeds are planted in about 28 percent of the cultivable land in the district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14259', 'image' => '20211221011631_5632idea99mustard.jpg', 'article_date' => '2021-12-21 13:15:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14513', 'article_category_id' => '1', 'title' => 'Nepal's Tourism Promotion in China Stalled since Covid-19 Outbreak', 'sub_title' => '', 'summary' => 'December 21: Nepal's tourism promotion in China has been stalled since the past two years due to the Covid-19 outbreak.', '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 21: Nepal's tourism promotion in China has been stalled since the past two years due to the Covid-19 outbreak. Although the number of Chinese tourists visiting Nepal is the highest after Indian tourists, Nepal's tourism entrepreneurs have yet to conduct any publicity and marketing activities in China since the outbreak of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first week of November 2019, government officials and tourism entrepreneurs of Nepal were in China to promote the Visit Nepal 2020 campaign. Since then, Nepal has not made any promotion campaigns in China. Tourism entrepreneurs say they are yet to promote Nepali tourism in China due to the Covid-19 outbreak, lockdown, and restrictions. Strict policies in China have also affected promotion plans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sajan Shakya, general secretary of the Hotel Association of Nepal (HAN), said that he visited China for tourism promotion at the end of 2019 and is yet to make any further visit. He said that it is necessary to stress on publicity in China in the current market strategy. In the 'Nepal Tourism Statistics-2020' index, Myanmar has risen to the second position in 2020, surpassing China as the second-largest tourist destination in Nepal in 2019.</span></span></span></span></p> <p><span style="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 number of tourists coming from China has gradually increased since 2016. However, the number has dropped dramatically since 2020. Around 170,000 Chinese tourists visited Nepal in 2019 which declined to 19,000 in 2020. As of November 2021, altogether 3,239 Chinese tourists visited Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the number of tourists from other countries increased in 2021, arrival of Chinese tourists has not improved.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14258', 'image' => '20211221113521_20210629020224_20210402.jpg', 'article_date' => '2021-12-21 11:34:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14511', 'article_category_id' => '1', 'title' => 'Is Nepal's Education becoming Limited to Certificates? ', 'sub_title' => '', 'summary' => 'December 21: Minister for Education, Science and Technology Devendra Paudel has said it is high time for soul-searching on whether the skills and knowledge obtained from higher education have been limited to certificate in the context of Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 21: Minister for Education, Science and Technology Devendra Paudel has said it is high time for soul-searching on whether the skills and knowledge obtained from higher education have been limited to certificate in the context of Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Paudel made such remark while addressing the 47th Convocation Day of the University on Monday, December 20. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, he expressed concerns regarding brain-drain and said that the country's skilled human resources are compelled to go abroad seeking employment opportunities at a time when Nepal needs to bring the knowledge and experiences from across the world scenario into the country for the nation's development. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"I wonder whether it is the educational programmes and contents of our universities that are not matching the requirements of our life or is it that we only have confined the skills and knowledge we learned to certificate alone and failed to translate them into practice. It is time to ponder over this matter," the state-owned national news agency RSS quoted the education minister as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He suggested the graduates who have got their degrees to use the skills they have learned to bring about improvement in the society, by synchronizing the knowledge learned with the world scenario and local needs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Education Minister Paudel reportedly said that Nepal could not move forward on the path of development as per the expectation because the available means and resources at its disposal could not be utilized in a judicious manner in spite of its cultural, geographical and natural diversities and richness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Education Minister and TU Pro-Chancellor urged the TU, the country's biggest and oldest university, to address the issues of poverty and unemployment by providing a world-class education. He suggested the university to make its research institutions more effective. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, Education Minister Paudel underscored the need of linking education to skills and skills to production and employment to stop large amount of money going abroad in the name of higher and quality education. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14257', 'image' => '20211221081849_education.jpg', 'article_date' => '2021-12-21 08:18:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14512', 'article_category_id' => '1', 'title' => 'Ownership Transfer of Khimti Hydropower Project Delayed', 'sub_title' => '', 'summary' => 'December 21: The ownership transfer of fifty percent shares of Khimti Hydropower Project to the government has been delayed due to lack of consensus between the NEA and the promoter company. ', 'content' => '<p><span style="font-size:18px">December 21: The ownership transfer of fifty percent shares of Khimti Hydropower Project to the government has been delayed due to lack of consensus between the NEA and the promoter company. As per the agreement reached between the government and the promoter company, Himal Power, fifty percent shares of the project should be owned by Nepal Electricity Authority from July 11, 2020. However, the transfer has not taken place.</span></p> <p><span style="font-size:18px">The officials of the Ministry of Energy, Water Resources and Irrigation and NEA said that discussions are still underway for the transfer of share ownership. They have been in discussions with the promoter company for the last two years. However, no concrete decision has been made. </span></p> <p><span style="font-size:18px">Spokesperson of the Ministry and Joint Secretary Madhu Prasad Bhetuwal said that discussions are underway to transfer ownership of the Khimti project. Both the parties are yet to reach agreement on some issues. "Following the share transfer, the same company is required to take responsibility for the operation of the project which the company has objected to," he said. </span></p> <p><span style="font-size:18px">Meanwhile, Kulman Ghising, managing director of NEA, said that the process of share transfer has been delayed due to Himal Power Company. “We are negotiating on issues like PPA, but the delay is due to their side," he said.</span></p> <p><span style="font-size:18px">The COVID-19 pandemic has also delayed the transfer of ownership. Himal Power Company includes foreign investors, and the COVID-19 restrictions prevented physical meetings for a long time.</span></p> <p><span style="font-size:18px">Hydropower projects built by the private sector should be handed over to the government after a certain period of time. This is the first project being handed over to the government by the private sector so it is being looked upon with high priority.</span></p> <p><span style="font-size:18px">Bhetuwal also claimed the government is working on this issue giving due importance. "This is the first hydropower project being handed over to the government. So a wrong precedence should not be established,” he added. <br /> In order to complete the process of share transfer, it is necessary to establish a joint venture company owned by both the authority and the promoter company. Then the company will sign a power purchase agreement (PPA) with NEA. However, such joint company has yet to be established. Also, the two sides have not reached an agreement on PPA. However, both sides have agreed that the current PPA rate will be decided in terms of Nepali currency. The law forbids PPA of projects below 100 MW capacity in foreign currency. </span></p> <p><span style="font-size:18px">This is the first privately funded hydropower project with investment from companies including Butwal Power Company Limited of Nepal, Statkraft SF of Norway and Alstom Power S. <br /> An agreement was signed between the then government and the company to transfer 50 percent shares of the project to NEA after twenty years of production. After fifty years of operation of the project, NEA will have full ownership of the project.</span></p> <p><span style="font-size:18px">Currently, the project is being operated by signing an interim agreement between Himal Power and NEA. <br /> The interim agreement between NEA and Himal Power Company has been extended till mid-July 2022 as the transfer of ownership could not be completed on time. Ghising believes the transfer of ownership will be completed by mid-July.</span></p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14256', 'image' => '20211221112231_20210823010727_20210119023725_1611012723.Clipboard02.jpg', 'article_date' => '2021-12-21 11:21:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14509', 'article_category_id' => '1', 'title' => 'CNI Calls for Capping Profits of Banks', 'sub_title' => '', 'summary' => 'December 20: The entrepreneurs and businessmen of Biratnagar are obliged to pay taxes under different headings if they make profits above 20 percent. ', '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 20: The entrepreneurs and businessmen of Biratnagar are obliged to pay taxes under different headings if they make profits above 20 percent. Meanwhile, this policy is not applicable for banks. The banks can earn as much as they want and are exempt of paying extra taxes. The Confederation of Nepalese Industries (CNI) has called upon the concerned authorities to cap the profits made by the banks as well.</span></span></span></span></p> <p><span style="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 president of Province 1 chapter of CNI, Bhim Ghimire, along with other businessmen has warned the government that they will start protest if this unfair treatment continues. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> “We want to draw your attention to take the initiative to keep the banks’ interest rate unchanged from single digit and to keep the interest rate system stable and sustainable until the country's economic situation improves so as not to affect investors who have already invested in manufacturing industries and infrastructure projects,” said Ghimire.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ghimire accused that the banks are getting motivated to earn profits like businessmen instead of being a medium to uplift the nation's economy.</span></span></span></span></p> <p><span style="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 statement issued by the CNI says that the banks in Nepal have become profit-oriented just like the rich merchants of ancient period. The confederation has also stated that banks and financial institutions are the main reason for the economic turmoil and inability to build capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> “How long will the investors and the general public have to suffer due to the banks increasing interest rates showing the problem of lack of liquidity?” the statement said, adding, “We are beginning to realize that the industry is collapsing in the game of raising and lowering interest rates every month and that the government and the central bank are only taking care of the banks”.</span></span></span></span></p> <p><span style="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 industrialists have also demanded that the investors of banks and the investors of industries should be different. President Ghimire questioned that since the investors of banks as well as industries are the same, does the central bank have any idea about where and how the economic activities of the country is heading towards? “We want to make sure that the central bank and the government do not ignore this,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mahesh Jaju, senior advisor to the confederation, said that the banks have stopped opening LCs for foreign trade and imports. He claimed that the trade of the country would come to stand still and cause a problem in supply of materials due to this activity of the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We are appealing to the government to prevent the country's economy from coming to a standstill, otherwise we will be forced to protest on the streets,” said Jaju adding that this will cause a reduction of government revenue.</span></span></span></span></p> <p><span style="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 a recent press conference, Pawan Sarda, a member of the Constituent Assembly and former president of the Morang Trade Association and patron of CNI, said that there are problems occurring in imports of goods due to the banks. According to Sarda, the image of Nepali importers and exporters in international business has been tarnished due to the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“After submitting documents to open an LC of Rs 200 million, the banks are demanding a deposit of Rs 50 million in advance,” said Sarda with the adding, “If we had 50 million, why would we seek loan?” He said that if the banks were reluctant to open ASL for foreign trade for a long time, the industries would automatically close down due to the lack of raw materials.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14255', 'image' => '20211220045505_Banks.jpg', 'article_date' => '2021-12-20 16:54:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14510', 'article_category_id' => '1', 'title' => 'Fire Destroys Properties worth Rs 30.5 Million in Indreni Complex ', 'sub_title' => '', 'summary' => 'December 20: A fire that broke out in the sixth floor of a commercial complex at New Baneshwor, Kathmandu gutted properties worth over Rs 30.5 million on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 20: A fire that broke out in the sixth floor of a commercial complex at New Baneshwor, Kathmandu gutted properties worth over Rs 30.5 million on Monday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to a preliminary investigation of the police, the fire erupted due to electric short circuit in an inverter of a fitness and spa centre in the sixth floor of the Indreni complex. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">SP Dineshraj Mainali of the Metropolitan Police Range, Kathmandu, said the fire has been doused by five fire brigades called in from Kathmandu, Lalitpur and Bhaktapur. -- RSS </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14254', 'image' => '20211220085054_Untitled.jpg', 'article_date' => '2021-12-20 20:50:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14508', 'article_category_id' => '1', 'title' => 'Registration of SMEs Doubled in a Year ', 'sub_title' => '', 'summary' => 'December 20: The registration of micro, cottage and small scale industries have increased across the country amid the covid-19 pandemic.', '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 20: The registration of micro, cottage and small scale industries have increased across the country amid the covid-19 pandemic. According to the ‘Micro, Cottage and Small Industries Statistics 2020/21’ released by the Department of Industry a few days ago, the registration of such industries has increased significantly in the last fiscal year as compared to the previous year. The department also informed that the investment in SMEs have also increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statistics show that a total of 83,386 industries were registered in 77 districts during the review period, which is almost double the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The proposed total capital of the registered companies last year was Rs 185.20 billion and it is estimated that those industries will create employment for 311,693 people after they come into operation. </span></span></span></span></p> <p><span style="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 fiscal year 2076/77, a total of 45,854 industries were registered across the nation. Likewise, the proposed capital of all those industries was Rs 111.15 billion. These registered industries were expected to provide employment to 169,771 after their operation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Pushparaj Shivakoti, a statistics officer involved in writing the report, says that the number of registered industries has also increased as the number of youths who want to do something in the country has increased after the pandemic. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the statistics of the two fiscal years, the total number of micro, cottage and small industries has reached more than 487,000 so far. </span></span></span></span></p> <p><span style="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 highest number of such industries have been registered in Bagmati Province (32 percent) and the lowest in Karnali Province.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> As per the data of the department, only 5 percent micro, cottage and small industries have been registered in Karnali. Likewise, 17 percent of such industries are registered in Lumbini, The registration of such industries in Province 1 and Province 2 is 14 percent each while 11 percent of industries have been registered in Gandaki Province and 7 percent in Far Western Province.</span></span></span></span></p> <p><span style="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 small scale industries have been catagorised into eight different sections. Among them, manufacturing, agriculture and forestry, tourism and service sectors have the highest number of registered industries. </span></span></span></span></p> <p><span style="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 highest number of registered industries are service-oriented industries and the lowest is the IT industry. So far, 178,662 service-oriented industries have been registered. </span></span></span></span></p> <p><span style="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 department has included the registration from the fiscal year 2051/52 in this report. </span></span></span></span></p> <p><span style="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 Federation of Nepalese Chambers of Commerce and Industry, such industries have contributed about 22 percent to the gross domestic product (GDP) and there are more than 2.5 million entrepreneurs. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14253', 'image' => '20211220020347_20200923125807_1198.jpg', 'article_date' => '2021-12-20 14:02:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14507', 'article_category_id' => '1', 'title' => 'Water Supply in Kathmandu Valley Less than One Third of Demand ', 'sub_title' => '', 'summary' => 'December 20: Water supply in the Kathmandu Valley is less than one third of the demand. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 20: Water supply in the Kathmandu Valley is less than one third of the demand. The Kathmandu Upatyaka Khanepani Limited (KUKL) distributes around 130 million litres of water on a daily basis, despite the demand of around 430 million litres of water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The supply further goes down during the dry season in March, April and May as the distribution is around 110 million liters. During rainy season, the distribution reaches up to 160 million litres. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shortage of drinking water is a perennial issue in the Kathmandu Valley since a long time. The Valley denizens are forced to seek alternative sources for water for daily needs as the supply from the KUKL is insufficient. Sometimes, the distribution remains halted for many days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to KUKL, 237,000 taps have been fixed in the Valley. Water taps fixed illegally are also found in many areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Water from Sundarijal, Mahadevkhola, Nakhhu, Shesh Narayan, Hititole, Saatmul, Kuturi, Devaki, Basuki, Balkhu River, Muldole, Charghare, Bishnumati, Panchmane, Chhahare, and Alle is collected and distributed in the Kathmandu. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In some areas, underground water is supplied as water collected from natural resources is insufficient At present, underground water is pulled from around 80 locations for the distribution. The KUKL is preparing to add around 10 million of underground water in the supplies from this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A study shows that the demand for water increases by some 10 per cent each year in the Kathmandu Valley. Growing population, a rise in the physical construction works and drying natural water resources have posed challenges to the water supply system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Kathmandu Valley Water Supply Management Board and the KUKL have signed a 30-year agreement beginning from February 13, 2008. As per the agreement, the KUKL is responsible for water supply in the Valley. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14252', 'image' => '20211220110034_20210726100917_20200903113103_1599056781.jpg', 'article_date' => '2021-12-20 10:59:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14506', 'article_category_id' => '1', 'title' => 'Demand for Electricity Increasing Every Year: NEA', 'sub_title' => '', 'summary' => 'December 20: The demand for electricity has increased significantly in the domestic market, thanks to the effective policy of the government and practical action plan among other initiatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 20: The demand for electricity has increased significantly in the domestic market, thanks to the effective policy of the government and practical action plan among other initiatives. The demand for electricity has been increasing by 20 per cent every year on an average, according to Nepal Electricity Authority (NEA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The NEA informed that the internal demand for electricity has suddenly increased due to the steps taken to increase the electricity demand and the increase in cold weather. The peak demand for electricity this year has increased compared to the previous year and it is in the range of 300 megawatts. NEA has adopted the policy of promoting the use of electric appliances and to provide the required energy to the industries with the aim of increasing the domestic consumption of electricity following a surplus of electricity in the market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The big industries have been supplied with electricity as per their demand and this has helped enhance their production capacity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NEA has provided 30 megawatts of electricity to Hongshi Cement Industry, the largest cement factory in the country, since the second week of November. Another cement factory with Chinese investment, Huashin Cement Industry, has also taken 20 megawatts electricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Electricity demand capacity both in terms of megawatts and energy units is found increasing. For instance, the peak demand in the system on December 13 was 1,539 megawatts whereas the peak demand on the same day last year was 1,217 megawatts – an increase of 322 megawatts. On this basis, the peak demand for electricity has increased by 26.5 per cent this year compared to the demand on the same date last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In order to meet the peak demand for electricity on December 13, NEA had managed 540 megawatts of electricity from its power houses, 529 megawatts from the powerhouses of its subsidiary companies and 425 megawatts from the private sector power houses, and imported 25 megawatts from India. Four megawatts electricity was exported to India even during peak time on that date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, electricity demand has also increased suddenly in the Kathmandu Valley and surrounding regions where there is high electricity consumption. The peak demand in the Valley last year was 293 megawatts and it has gone up to 382 megawatts this year. This shows that the demand for electricity has increased notably in the Kathmandu Valley as well. The use of electric induction ovens has increased in the Valley. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the basis of the energy demand, the electricity consumption was 27.2 million units on December 13, which is 28.65 per cent more compared to 21.1 million units on the same day last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14251', 'image' => '20211220105149_NEA.jpg', 'article_date' => '2021-12-20 10:51:15', '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' => '14521', 'article_category_id' => '1', 'title' => 'Tourism Minister Scraps Decision to Privatize NAC', 'sub_title' => '', 'summary' => 'December 22: Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale has said that state-owned Nepal Airlines Corporation (NAC) will not be privatized.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 22: Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale has said that state-owned Nepal Airlines Corporation (NAC) will not be privatized. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Informing that it was a ministerial decision not to privatize the NAC, he expressed his commitment to enhance the national flag bearer of Nepal. He also said that the Government of Nepal would assist NAC in adding new aircraft to its fleet. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During a meeting with NAC officials on Tuesday, Tourism Minister Ale said that the number of aircraft would be increased and the fares would be made competitive.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister Ale also directed officials of NAC to allocate at least 40 low-fare tickets for Nepali migrant workers going abroad for foreign employment. Currently, NAC has been offering 20 such seats to the migrant workers bound for foreign countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister Ale also asked the NAC team to prevent intermediaries from providing air tickets to the migrant workers at the NAC premises. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the interaction, secretary at the ministry, Maheshwor Neupane, instructed the NAC to concentrate on profit-making through maximum utilization of its available means, resources and human resources in line with business plan. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Yubaraj Adhikari, executive chairman of NAC, informed that the corporation has been granted permission to transport dangerous goods due to its safety commitments. He added that the NAC has gained worldwide recognition after bilateral agreements with international airliners to use NAC’s ticket for flights to Europe and other destinations. He also said that the corporation has helped expand the market of Nepali products in the international market by opening a sales center.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Stating that the regularity of flights has increased and the number of passengers has also reached 80 percent of the seating capacity, he said that the process of flying to Riyadh in the Middle East has also reached the final stage of agreement. (With inputs from RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14266', 'image' => '20211222044711_20211112081930_20210709080354_20180727021334_2.jpg', 'article_date' => '2021-12-22 16:46:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14519', 'article_category_id' => '1', 'title' => 'Commercial Banks listed in NEPSE Declare Dividends', 'sub_title' => '', 'summary' => 'December 22: Commercial banks listed in the Nepal Stock Exchange (NEPSE) have announced to pay dividend to investors from the last fiscal year's profit. ', '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: Commercial banks listed in the Nepal Stock Exchange (NEPSE) have announced to pay dividend to investors from the last fiscal year's profit. </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"">Out of the total 27 commercial banks of the country, 26 listed in NEPSE have declared dividend including cash and bonus shares from the distributable profit of the fiscal year 2077/78. Some of the declared dividends have been decided by the banks after holding general assembly and some of them are preparing for the general assembly to make the announcement. </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 figures made public so far, Nabil Bank is set to distribute the highest dividend comprising 33.6 percent bonus shares and 4.4 percent cash dividend. Similarly, Civil Bank will be giving away dividend of 5.26 percent on the basis of last year's distributable profit. The bank has stated that out of the declared dividend, five percent will be bonus shares and 0.26 per cent will be cash. </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 Himalayan Bank will award 21.38 percent bonus share and 4.62 percent cash dividend to its investors. Agriculture Development Bank has decided to distribute 21.0526 percent dividend with 20 percent bonus and 1.56 percent cash. Sanima Bank has announced 17 percent bonus and 0.8947 percent cash, Nepal Bank is giving 14 percent bonus and 3 percent cash, Prime Commercial Bank will give 16 percent bonus and 0.6313 percent cash. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Nepal Investment Bank has stated that it will distribute 16 percent dividend with 12.611 percent bonus and 3.389 percent cash and Citizens Bank will distribute 16 percent dividend with 12.913 bonus and 3.87 percent cash. </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 NMB Bank has offered its shareholders 12.5 per cent bonus shares and 3.3 per cent cash dividend, NIC Asia Bank will give 15 per cent bonus and 0.7895 per cent cash, Nepal Bangladesh Bank is proving 12 per cent bonus shares and 3 per cent cash. Siddhartha Bank will give 14.25 per cent bonus shares and 0.75 percent cash, Machhapuchche Bank has announced 14 percent dividend with 13.3 percent bonus and 0.7 percent cash, Bank of Kathmandu will provide 10 percent bonus and four percent cash. Global IME Bank has announced a 13.5 percent dividend with 10 percent bonus and 3.5 percent cash while Standard Chartered Bank has announced 13.6 percent dividend with 10 percent bonus and 3.6 percent cash. </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"">Prabhu Bank, Mega Bank, Laxmi Bank, Everest Bank, Kumari Bank, Nepal Credit and Commerce Bank (NCC), Sunrise Bank and Century Bank, Nepal SBI Bank have also announced dividend shares and cash bonus. </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"">Out of the declared dividend, the cash is deposited directly in the bank account while bonus shares will be entered into demat account provided by the investor. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14265', 'image' => '20211222104354_dividend.jpg', 'article_date' => '2021-12-22 10:43:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14517', 'article_category_id' => '266', 'title' => 'Radisson Hotel Marks Christmas Tree Lighting Ceremony', 'sub_title' => '', 'summary' => 'December 21: Radisson Hotel celebrated the Christmas Tree Lighting Ceremony on December 19 to welcome the holiday season of tourists.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 21: Radisson Hotel celebrated the Christmas Tree Lighting Ceremony on December 19 to welcome the holiday season of tourists. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subrata Banerjee, the general manager of Radisson Hotel, officiated the ceremony which was marked with Christmas carol played by professionals. Issuing a statement, the hotel said that the most anticipated moment of the ceremony was lighting the Christmas Tree. The honors were done by Alina B Novikova, spouse of Russian Ambassador to Nepal, the statement further said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Tree%20Lighting%202.jpeg" style="height:533px; width:800px" /></span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The special attractions of the ceremony included live Christmas carol along with display of ginger bread house, jingle bells, Christmas delicacies and Santa Claus spreading joy among all the invitees with other fun filled festive activities. According to the hotel, all of the attendees had a good time filled with joy at the ceremony.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Tree%20Lighting%204.jpeg" style="height:533px; width:800px" /></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14263', 'image' => '20211221083225_Tree lighting.jpeg', 'article_date' => '2021-12-21 20:30:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14520', 'article_category_id' => '1', 'title' => 'NRB Demands Cash Margin for Opening LC to Import Goods', 'sub_title' => '', 'summary' => 'December 21: Nepal Rastra Bank (NRB) has made it mandatory to keep cash margin when opening letter of credit (LC) for importing luxury goods.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 21: Nepal Rastra Bank (NRB) has made it mandatory to keep cash margin when opening letter of credit (LC) for importing luxury goods. Such measure was introduced to control the declining foreign exchange reserves. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB issued a directive for its own banking department, provincial offices, commercial banks and national level banks on December 20 and introduced the new provision. When banks open LC for the purpose of importing the goods, they need to take into consideration cash margin from the importer.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has implemented such provisions for the import of goods with various harmonic codes. When importing goods with harmonic codes 0907, 17, 22, 24, 3303, 3304, 3305, 44, 64, 65, 66, 67, 68, 69, 7010, 7106, 8703, 8711, 9403 and 9504.40.00 margin of fifty percent to cent percent should be available. Likewise, while importing items with codes from 8703 to 8711, fifty percent margin should be available.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has directed to keep a hundred percent cash margin on other items. NRB has introduced such provisions for the import of silver, motorcycles, vehicles, sugar, metal furniture, water, lead products, make-up and other items.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NRB interest can't be paid on such margin. Also, it has instructed that loans cannot be disbursed for the purpose of keeping margin amount. Banks are required to take margin amount at the time of opening the LC and the amount can be used to pay for imports.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This provision will not apply on imports of medical products. Similarly, this provision will not be applicable to the items imported by the government authorities, diplomatic missions and hospitals.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has made the new provision in view of the declining foreign exchange reserves. Lately, foreign exchange reserves have been steadily declining particularly through imports. As a result, the balance of payments has also incurred a loss of Rs 150 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Gunakar Bhatt, Spokesperson of NRB said the flow of foreign currencies is increasing with the increase in imports. This is having impact on foreign exchange reserves and the balance of payments. The recent decision has been taken to control imports. According to the central bank, this provision will be removed once the situation normalizes. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Some banks are already taking margins when opening LCs for import of various commodities. The central bank has introduced the provision in paper as a short term solution.</span></span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14262', 'image' => '20211222044615_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-22 16:45:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14516', 'article_category_id' => '266', 'title' => 'Hami Nepal Pledges to Maintain Transparency through its Website', 'sub_title' => '', 'summary' => 'December 21: Hami Nepal, a youth-led non-profit organization, on Monday launched its website with the aim of maintaining transparency of the donated funds and all the expenses of the organization.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">December 21: Hami Nepal, a youth-led non-profit organization, on Monday launched its website with the aim of maintaining transparency of the donated funds and all the expenses of the organization. According to a statement issued by Hami Nepal, the website was launched on the occasion of the first AGM of the organisation held at Hotel Badagaon in Bhaktapur.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">The statement further said that the main objective of the AGM was to pay respect to its volunteers and all the well-wishers who have been supporting them since their establishment in 2015. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"><img alt="" src="/app/webroot/userfiles/images/PIC%202.jpg" style="height:533px; width:800px" /></span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">President of the organization Sudan Gurung said that the purpose of the organization is to have a positive impact on society by “changing how we think about others and how we connect – changes that are more important than ever. Our group also serves as a voice for those who have no one else to speak for them.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">Gurung, on behalf of his entire team, expressed gratitude to all the donors and volunteers from all over the world who have shown endless support and love to make their vision a success.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"> “We believe that the website will help build more trust in our organization as it is a verifying platform for all the donors to keep track of their donations. It will also connect donors and the recipients directly,” said Gurung, adding, “Furthermore, the website will be a transparent platform where donors can check the status of past and ongoing projects.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">On the occasion, Hami Nepal honored the guests including Dr Sanduk Ruit (Chairman of Barbara Foundation), Deepak Bhatta (Chairman of Infinity Holdings), Upendra Hirawat (Director of Infinity Holdings), Sulav Agrawal (Vice Chairman of Shankar Group), Sahil Agrawal (Managing Director of Shanker Group), who have continuously helped the organization to reach its goals of selflessly serving the needy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"><img alt="" src="/app/webroot/userfiles/images/PIC%204.jpg" style="height:533px; width:800px" /></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14261', 'image' => '20211221051757_PIC 3.jpg', 'article_date' => '2021-12-21 17:15:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14515', 'article_category_id' => '1', 'title' => 'Nepal Receives Investment Pledges of Rs 30 Billion in Current FY', 'sub_title' => '', 'summary' => 'December 21: Nepal has received foreign investment commitment of Rs 30 billion in the first five months of the current fiscal year that began on July 16. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 21: Nepal has received foreign investment commitment of Rs 30 billion in the first five months of the current fiscal year that began on July 16. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the data unveiled by the Department of Industries, foreign investors have committed to invest around Rs 30 billion in 122 industries in the past five months (July 16 to December 7) of the current fiscal year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department’s information officer Gyanendra Parajuli said those industries have been registered under six different categories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The highest commitment is for the service-oriented sector as investors have pledged Rs 15.95 billion for 35 industries under this category. Towards the service sector, pledges have been received from China (Rs 600 million for four industries based on agriculture and forest products), from Netherlands (Rs 56 million for energy-based industry and Rs 450 million for four industries relating to information, communications and broadcasting service. Likewise, Rs 3.24 billion has been pledged for 19 production-based industries and Rs 9.55 billion for 55 tourism industries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China is the country that has pledged the highest investment (around 80 percent) in Nepal in the review period. China has pledged for investment of over Rs 23.64 billion in 102 industries. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14260', 'image' => '20211221045946_20210113033332_foreign-investment.jpg', 'article_date' => '2021-12-21 16:59:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14514', 'article_category_id' => '1', 'title' => 'Mustard Production Increasing in Chitwan District', 'sub_title' => '', 'summary' => 'December 21: The production of mustard has increased in Chitwan district with the increase in area of plantation.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: The production of mustard has increased in Chitwan district with the increase in area of plantation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the statistics of the Directorate of Agricultural Development, 12,180 metric tons of mustard was produced on 12,255 hectares of land in the fiscal year 2076/77. In the last fiscal year (FY 2077/78), a total of 12,218 metric tons of mustard was produced on 12,260 hectares of land.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As mustard has been planted in 12,270 hectares of land in the current fiscal year, the production is expected to increase this year as well. “The weather is favorable now, the mustard flowers are in good condition and there is no frost. It is likely that the production will increase,” said Yuvraj Pandey, head of the Directorate of Agricultural Development, Chitwan. Lately, farmers have been attracted towards mustard farming.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Madhav Poudel, information officer at the Prime Minister's Agriculture Modernization Project, Chitwan said that the increase in production was due to the increase in attraction towards mustard farming and the implementation of pocket and block programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“The demand and price of mustard has also increased,” he said, adding, “That is why the farmers have started cultivating mustard instead of other crops.” According to Poudel, a mustard block program has been introduced in Madi of the district this year. Poudel says that there will be an increase in production this year due to good flowering and good pollination.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the last few fiscal years, the area for mustard plantation was fluctuating which directly impacted mustard production. In the fiscal year 2074/75, mustard farming was done on 12,251 hectares of land while the production was 12,200 metric tons and in the fiscal year 2075/76, mustard was planted on 12,260 hectares of land with an output of 12,300 metric tons of mustard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The production of mustard planted in the district has been fluctuating. According to the Directorate of Agricultural Development, the production of mustard was fluctuating due to changes in irrigation, fertilizer and seasonal adaptations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Center, productivity per hectare is estimated to be 995.83 kg in fiscal year 2074/75, 1003.26 kg in FY 2075/76, 993.88 kg in FY 2076/77, 996.57 kg in FY 2077/78 and 1000 kg in the current Fiscal Year. It is estimated that 10 metric tons more will be produced this year as the area under mustard cultivation has increased by 10 hectares as compared to last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In Chitwan, mustard and sesame are planted in the category of oilseeds. Local as well as varieties of mustard are grown here. Oilseeds are planted in about 28 percent of the cultivable land in the district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14259', 'image' => '20211221011631_5632idea99mustard.jpg', 'article_date' => '2021-12-21 13:15:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14513', 'article_category_id' => '1', 'title' => 'Nepal's Tourism Promotion in China Stalled since Covid-19 Outbreak', 'sub_title' => '', 'summary' => 'December 21: Nepal's tourism promotion in China has been stalled since the past two years due to the Covid-19 outbreak.', '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 21: Nepal's tourism promotion in China has been stalled since the past two years due to the Covid-19 outbreak. Although the number of Chinese tourists visiting Nepal is the highest after Indian tourists, Nepal's tourism entrepreneurs have yet to conduct any publicity and marketing activities in China since the outbreak of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first week of November 2019, government officials and tourism entrepreneurs of Nepal were in China to promote the Visit Nepal 2020 campaign. Since then, Nepal has not made any promotion campaigns in China. Tourism entrepreneurs say they are yet to promote Nepali tourism in China due to the Covid-19 outbreak, lockdown, and restrictions. Strict policies in China have also affected promotion plans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sajan Shakya, general secretary of the Hotel Association of Nepal (HAN), said that he visited China for tourism promotion at the end of 2019 and is yet to make any further visit. He said that it is necessary to stress on publicity in China in the current market strategy. In the 'Nepal Tourism Statistics-2020' index, Myanmar has risen to the second position in 2020, surpassing China as the second-largest tourist destination in Nepal in 2019.</span></span></span></span></p> <p><span style="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 number of tourists coming from China has gradually increased since 2016. However, the number has dropped dramatically since 2020. Around 170,000 Chinese tourists visited Nepal in 2019 which declined to 19,000 in 2020. As of November 2021, altogether 3,239 Chinese tourists visited Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the number of tourists from other countries increased in 2021, arrival of Chinese tourists has not improved.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14258', 'image' => '20211221113521_20210629020224_20210402.jpg', 'article_date' => '2021-12-21 11:34:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14511', 'article_category_id' => '1', 'title' => 'Is Nepal's Education becoming Limited to Certificates? ', 'sub_title' => '', 'summary' => 'December 21: Minister for Education, Science and Technology Devendra Paudel has said it is high time for soul-searching on whether the skills and knowledge obtained from higher education have been limited to certificate in the context of Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 21: Minister for Education, Science and Technology Devendra Paudel has said it is high time for soul-searching on whether the skills and knowledge obtained from higher education have been limited to certificate in the context of Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Paudel made such remark while addressing the 47th Convocation Day of the University on Monday, December 20. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, he expressed concerns regarding brain-drain and said that the country's skilled human resources are compelled to go abroad seeking employment opportunities at a time when Nepal needs to bring the knowledge and experiences from across the world scenario into the country for the nation's development. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"I wonder whether it is the educational programmes and contents of our universities that are not matching the requirements of our life or is it that we only have confined the skills and knowledge we learned to certificate alone and failed to translate them into practice. It is time to ponder over this matter," the state-owned national news agency RSS quoted the education minister as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He suggested the graduates who have got their degrees to use the skills they have learned to bring about improvement in the society, by synchronizing the knowledge learned with the world scenario and local needs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Education Minister Paudel reportedly said that Nepal could not move forward on the path of development as per the expectation because the available means and resources at its disposal could not be utilized in a judicious manner in spite of its cultural, geographical and natural diversities and richness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Education Minister and TU Pro-Chancellor urged the TU, the country's biggest and oldest university, to address the issues of poverty and unemployment by providing a world-class education. He suggested the university to make its research institutions more effective. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, Education Minister Paudel underscored the need of linking education to skills and skills to production and employment to stop large amount of money going abroad in the name of higher and quality education. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14257', 'image' => '20211221081849_education.jpg', 'article_date' => '2021-12-21 08:18:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14512', 'article_category_id' => '1', 'title' => 'Ownership Transfer of Khimti Hydropower Project Delayed', 'sub_title' => '', 'summary' => 'December 21: The ownership transfer of fifty percent shares of Khimti Hydropower Project to the government has been delayed due to lack of consensus between the NEA and the promoter company. ', 'content' => '<p><span style="font-size:18px">December 21: The ownership transfer of fifty percent shares of Khimti Hydropower Project to the government has been delayed due to lack of consensus between the NEA and the promoter company. As per the agreement reached between the government and the promoter company, Himal Power, fifty percent shares of the project should be owned by Nepal Electricity Authority from July 11, 2020. However, the transfer has not taken place.</span></p> <p><span style="font-size:18px">The officials of the Ministry of Energy, Water Resources and Irrigation and NEA said that discussions are still underway for the transfer of share ownership. They have been in discussions with the promoter company for the last two years. However, no concrete decision has been made. </span></p> <p><span style="font-size:18px">Spokesperson of the Ministry and Joint Secretary Madhu Prasad Bhetuwal said that discussions are underway to transfer ownership of the Khimti project. Both the parties are yet to reach agreement on some issues. "Following the share transfer, the same company is required to take responsibility for the operation of the project which the company has objected to," he said. </span></p> <p><span style="font-size:18px">Meanwhile, Kulman Ghising, managing director of NEA, said that the process of share transfer has been delayed due to Himal Power Company. “We are negotiating on issues like PPA, but the delay is due to their side," he said.</span></p> <p><span style="font-size:18px">The COVID-19 pandemic has also delayed the transfer of ownership. Himal Power Company includes foreign investors, and the COVID-19 restrictions prevented physical meetings for a long time.</span></p> <p><span style="font-size:18px">Hydropower projects built by the private sector should be handed over to the government after a certain period of time. This is the first project being handed over to the government by the private sector so it is being looked upon with high priority.</span></p> <p><span style="font-size:18px">Bhetuwal also claimed the government is working on this issue giving due importance. "This is the first hydropower project being handed over to the government. So a wrong precedence should not be established,” he added. <br /> In order to complete the process of share transfer, it is necessary to establish a joint venture company owned by both the authority and the promoter company. Then the company will sign a power purchase agreement (PPA) with NEA. However, such joint company has yet to be established. Also, the two sides have not reached an agreement on PPA. However, both sides have agreed that the current PPA rate will be decided in terms of Nepali currency. The law forbids PPA of projects below 100 MW capacity in foreign currency. </span></p> <p><span style="font-size:18px">This is the first privately funded hydropower project with investment from companies including Butwal Power Company Limited of Nepal, Statkraft SF of Norway and Alstom Power S. <br /> An agreement was signed between the then government and the company to transfer 50 percent shares of the project to NEA after twenty years of production. After fifty years of operation of the project, NEA will have full ownership of the project.</span></p> <p><span style="font-size:18px">Currently, the project is being operated by signing an interim agreement between Himal Power and NEA. <br /> The interim agreement between NEA and Himal Power Company has been extended till mid-July 2022 as the transfer of ownership could not be completed on time. Ghising believes the transfer of ownership will be completed by mid-July.</span></p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14256', 'image' => '20211221112231_20210823010727_20210119023725_1611012723.Clipboard02.jpg', 'article_date' => '2021-12-21 11:21:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14509', 'article_category_id' => '1', 'title' => 'CNI Calls for Capping Profits of Banks', 'sub_title' => '', 'summary' => 'December 20: The entrepreneurs and businessmen of Biratnagar are obliged to pay taxes under different headings if they make profits above 20 percent. ', '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 20: The entrepreneurs and businessmen of Biratnagar are obliged to pay taxes under different headings if they make profits above 20 percent. Meanwhile, this policy is not applicable for banks. The banks can earn as much as they want and are exempt of paying extra taxes. The Confederation of Nepalese Industries (CNI) has called upon the concerned authorities to cap the profits made by the banks as well.</span></span></span></span></p> <p><span style="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 president of Province 1 chapter of CNI, Bhim Ghimire, along with other businessmen has warned the government that they will start protest if this unfair treatment continues. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> “We want to draw your attention to take the initiative to keep the banks’ interest rate unchanged from single digit and to keep the interest rate system stable and sustainable until the country's economic situation improves so as not to affect investors who have already invested in manufacturing industries and infrastructure projects,” said Ghimire.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ghimire accused that the banks are getting motivated to earn profits like businessmen instead of being a medium to uplift the nation's economy.</span></span></span></span></p> <p><span style="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 statement issued by the CNI says that the banks in Nepal have become profit-oriented just like the rich merchants of ancient period. The confederation has also stated that banks and financial institutions are the main reason for the economic turmoil and inability to build capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> “How long will the investors and the general public have to suffer due to the banks increasing interest rates showing the problem of lack of liquidity?” the statement said, adding, “We are beginning to realize that the industry is collapsing in the game of raising and lowering interest rates every month and that the government and the central bank are only taking care of the banks”.</span></span></span></span></p> <p><span style="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 industrialists have also demanded that the investors of banks and the investors of industries should be different. President Ghimire questioned that since the investors of banks as well as industries are the same, does the central bank have any idea about where and how the economic activities of the country is heading towards? “We want to make sure that the central bank and the government do not ignore this,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mahesh Jaju, senior advisor to the confederation, said that the banks have stopped opening LCs for foreign trade and imports. He claimed that the trade of the country would come to stand still and cause a problem in supply of materials due to this activity of the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We are appealing to the government to prevent the country's economy from coming to a standstill, otherwise we will be forced to protest on the streets,” said Jaju adding that this will cause a reduction of government revenue.</span></span></span></span></p> <p><span style="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 a recent press conference, Pawan Sarda, a member of the Constituent Assembly and former president of the Morang Trade Association and patron of CNI, said that there are problems occurring in imports of goods due to the banks. According to Sarda, the image of Nepali importers and exporters in international business has been tarnished due to the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“After submitting documents to open an LC of Rs 200 million, the banks are demanding a deposit of Rs 50 million in advance,” said Sarda with the adding, “If we had 50 million, why would we seek loan?” He said that if the banks were reluctant to open ASL for foreign trade for a long time, the industries would automatically close down due to the lack of raw materials.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14255', 'image' => '20211220045505_Banks.jpg', 'article_date' => '2021-12-20 16:54:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14510', 'article_category_id' => '1', 'title' => 'Fire Destroys Properties worth Rs 30.5 Million in Indreni Complex ', 'sub_title' => '', 'summary' => 'December 20: A fire that broke out in the sixth floor of a commercial complex at New Baneshwor, Kathmandu gutted properties worth over Rs 30.5 million on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 20: A fire that broke out in the sixth floor of a commercial complex at New Baneshwor, Kathmandu gutted properties worth over Rs 30.5 million on Monday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to a preliminary investigation of the police, the fire erupted due to electric short circuit in an inverter of a fitness and spa centre in the sixth floor of the Indreni complex. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">SP Dineshraj Mainali of the Metropolitan Police Range, Kathmandu, said the fire has been doused by five fire brigades called in from Kathmandu, Lalitpur and Bhaktapur. -- RSS </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14254', 'image' => '20211220085054_Untitled.jpg', 'article_date' => '2021-12-20 20:50:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14508', 'article_category_id' => '1', 'title' => 'Registration of SMEs Doubled in a Year ', 'sub_title' => '', 'summary' => 'December 20: The registration of micro, cottage and small scale industries have increased across the country amid the covid-19 pandemic.', '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 20: The registration of micro, cottage and small scale industries have increased across the country amid the covid-19 pandemic. According to the ‘Micro, Cottage and Small Industries Statistics 2020/21’ released by the Department of Industry a few days ago, the registration of such industries has increased significantly in the last fiscal year as compared to the previous year. The department also informed that the investment in SMEs have also increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statistics show that a total of 83,386 industries were registered in 77 districts during the review period, which is almost double the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The proposed total capital of the registered companies last year was Rs 185.20 billion and it is estimated that those industries will create employment for 311,693 people after they come into operation. </span></span></span></span></p> <p><span style="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 fiscal year 2076/77, a total of 45,854 industries were registered across the nation. Likewise, the proposed capital of all those industries was Rs 111.15 billion. These registered industries were expected to provide employment to 169,771 after their operation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Pushparaj Shivakoti, a statistics officer involved in writing the report, says that the number of registered industries has also increased as the number of youths who want to do something in the country has increased after the pandemic. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the statistics of the two fiscal years, the total number of micro, cottage and small industries has reached more than 487,000 so far. </span></span></span></span></p> <p><span style="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 highest number of such industries have been registered in Bagmati Province (32 percent) and the lowest in Karnali Province.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> As per the data of the department, only 5 percent micro, cottage and small industries have been registered in Karnali. Likewise, 17 percent of such industries are registered in Lumbini, The registration of such industries in Province 1 and Province 2 is 14 percent each while 11 percent of industries have been registered in Gandaki Province and 7 percent in Far Western Province.</span></span></span></span></p> <p><span style="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 small scale industries have been catagorised into eight different sections. Among them, manufacturing, agriculture and forestry, tourism and service sectors have the highest number of registered industries. </span></span></span></span></p> <p><span style="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 highest number of registered industries are service-oriented industries and the lowest is the IT industry. So far, 178,662 service-oriented industries have been registered. </span></span></span></span></p> <p><span style="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 department has included the registration from the fiscal year 2051/52 in this report. </span></span></span></span></p> <p><span style="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 Federation of Nepalese Chambers of Commerce and Industry, such industries have contributed about 22 percent to the gross domestic product (GDP) and there are more than 2.5 million entrepreneurs. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14253', 'image' => '20211220020347_20200923125807_1198.jpg', 'article_date' => '2021-12-20 14:02:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14507', 'article_category_id' => '1', 'title' => 'Water Supply in Kathmandu Valley Less than One Third of Demand ', 'sub_title' => '', 'summary' => 'December 20: Water supply in the Kathmandu Valley is less than one third of the demand. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 20: Water supply in the Kathmandu Valley is less than one third of the demand. The Kathmandu Upatyaka Khanepani Limited (KUKL) distributes around 130 million litres of water on a daily basis, despite the demand of around 430 million litres of water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The supply further goes down during the dry season in March, April and May as the distribution is around 110 million liters. During rainy season, the distribution reaches up to 160 million litres. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shortage of drinking water is a perennial issue in the Kathmandu Valley since a long time. The Valley denizens are forced to seek alternative sources for water for daily needs as the supply from the KUKL is insufficient. Sometimes, the distribution remains halted for many days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to KUKL, 237,000 taps have been fixed in the Valley. Water taps fixed illegally are also found in many areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Water from Sundarijal, Mahadevkhola, Nakhhu, Shesh Narayan, Hititole, Saatmul, Kuturi, Devaki, Basuki, Balkhu River, Muldole, Charghare, Bishnumati, Panchmane, Chhahare, and Alle is collected and distributed in the Kathmandu. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In some areas, underground water is supplied as water collected from natural resources is insufficient At present, underground water is pulled from around 80 locations for the distribution. The KUKL is preparing to add around 10 million of underground water in the supplies from this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A study shows that the demand for water increases by some 10 per cent each year in the Kathmandu Valley. Growing population, a rise in the physical construction works and drying natural water resources have posed challenges to the water supply system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Kathmandu Valley Water Supply Management Board and the KUKL have signed a 30-year agreement beginning from February 13, 2008. As per the agreement, the KUKL is responsible for water supply in the Valley. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14252', 'image' => '20211220110034_20210726100917_20200903113103_1599056781.jpg', 'article_date' => '2021-12-20 10:59:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14506', 'article_category_id' => '1', 'title' => 'Demand for Electricity Increasing Every Year: NEA', 'sub_title' => '', 'summary' => 'December 20: The demand for electricity has increased significantly in the domestic market, thanks to the effective policy of the government and practical action plan among other initiatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 20: The demand for electricity has increased significantly in the domestic market, thanks to the effective policy of the government and practical action plan among other initiatives. The demand for electricity has been increasing by 20 per cent every year on an average, according to Nepal Electricity Authority (NEA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The NEA informed that the internal demand for electricity has suddenly increased due to the steps taken to increase the electricity demand and the increase in cold weather. The peak demand for electricity this year has increased compared to the previous year and it is in the range of 300 megawatts. NEA has adopted the policy of promoting the use of electric appliances and to provide the required energy to the industries with the aim of increasing the domestic consumption of electricity following a surplus of electricity in the market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The big industries have been supplied with electricity as per their demand and this has helped enhance their production capacity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NEA has provided 30 megawatts of electricity to Hongshi Cement Industry, the largest cement factory in the country, since the second week of November. Another cement factory with Chinese investment, Huashin Cement Industry, has also taken 20 megawatts electricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Electricity demand capacity both in terms of megawatts and energy units is found increasing. For instance, the peak demand in the system on December 13 was 1,539 megawatts whereas the peak demand on the same day last year was 1,217 megawatts – an increase of 322 megawatts. On this basis, the peak demand for electricity has increased by 26.5 per cent this year compared to the demand on the same date last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In order to meet the peak demand for electricity on December 13, NEA had managed 540 megawatts of electricity from its power houses, 529 megawatts from the powerhouses of its subsidiary companies and 425 megawatts from the private sector power houses, and imported 25 megawatts from India. Four megawatts electricity was exported to India even during peak time on that date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, electricity demand has also increased suddenly in the Kathmandu Valley and surrounding regions where there is high electricity consumption. The peak demand in the Valley last year was 293 megawatts and it has gone up to 382 megawatts this year. This shows that the demand for electricity has increased notably in the Kathmandu Valley as well. The use of electric induction ovens has increased in the Valley. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the basis of the energy demand, the electricity consumption was 27.2 million units on December 13, which is 28.65 per cent more compared to 21.1 million units on the same day last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14251', 'image' => '20211220105149_NEA.jpg', 'article_date' => '2021-12-20 10:51:15', '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
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He also said that the Government of Nepal would assist NAC in adding new aircraft to its fleet. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During a meeting with NAC officials on Tuesday, Tourism Minister Ale said that the number of aircraft would be increased and the fares would be made competitive.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister Ale also directed officials of NAC to allocate at least 40 low-fare tickets for Nepali migrant workers going abroad for foreign employment. Currently, NAC has been offering 20 such seats to the migrant workers bound for foreign countries. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Minister Ale also asked the NAC team to prevent intermediaries from providing air tickets to the migrant workers at the NAC premises. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During the interaction, secretary at the ministry, Maheshwor Neupane, instructed the NAC to concentrate on profit-making through maximum utilization of its available means, resources and human resources in line with business plan. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Yubaraj Adhikari, executive chairman of NAC, informed that the corporation has been granted permission to transport dangerous goods due to its safety commitments. He added that the NAC has gained worldwide recognition after bilateral agreements with international airliners to use NAC’s ticket for flights to Europe and other destinations. He also said that the corporation has helped expand the market of Nepali products in the international market by opening a sales center.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Stating that the regularity of flights has increased and the number of passengers has also reached 80 percent of the seating capacity, he said that the process of flying to Riyadh in the Middle East has also reached the final stage of agreement. (With inputs from RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14266', 'image' => '20211222044711_20211112081930_20210709080354_20180727021334_2.jpg', 'article_date' => '2021-12-22 16:46:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14519', 'article_category_id' => '1', 'title' => 'Commercial Banks listed in NEPSE Declare Dividends', 'sub_title' => '', 'summary' => 'December 22: Commercial banks listed in the Nepal Stock Exchange (NEPSE) have announced to pay dividend to investors from the last fiscal year's profit. ', '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: Commercial banks listed in the Nepal Stock Exchange (NEPSE) have announced to pay dividend to investors from the last fiscal year's profit. </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"">Out of the total 27 commercial banks of the country, 26 listed in NEPSE have declared dividend including cash and bonus shares from the distributable profit of the fiscal year 2077/78. Some of the declared dividends have been decided by the banks after holding general assembly and some of them are preparing for the general assembly to make the announcement. </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 figures made public so far, Nabil Bank is set to distribute the highest dividend comprising 33.6 percent bonus shares and 4.4 percent cash dividend. Similarly, Civil Bank will be giving away dividend of 5.26 percent on the basis of last year's distributable profit. The bank has stated that out of the declared dividend, five percent will be bonus shares and 0.26 per cent will be cash. </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 Himalayan Bank will award 21.38 percent bonus share and 4.62 percent cash dividend to its investors. Agriculture Development Bank has decided to distribute 21.0526 percent dividend with 20 percent bonus and 1.56 percent cash. Sanima Bank has announced 17 percent bonus and 0.8947 percent cash, Nepal Bank is giving 14 percent bonus and 3 percent cash, Prime Commercial Bank will give 16 percent bonus and 0.6313 percent cash. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Nepal Investment Bank has stated that it will distribute 16 percent dividend with 12.611 percent bonus and 3.389 percent cash and Citizens Bank will distribute 16 percent dividend with 12.913 bonus and 3.87 percent cash. </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 NMB Bank has offered its shareholders 12.5 per cent bonus shares and 3.3 per cent cash dividend, NIC Asia Bank will give 15 per cent bonus and 0.7895 per cent cash, Nepal Bangladesh Bank is proving 12 per cent bonus shares and 3 per cent cash. Siddhartha Bank will give 14.25 per cent bonus shares and 0.75 percent cash, Machhapuchche Bank has announced 14 percent dividend with 13.3 percent bonus and 0.7 percent cash, Bank of Kathmandu will provide 10 percent bonus and four percent cash. Global IME Bank has announced a 13.5 percent dividend with 10 percent bonus and 3.5 percent cash while Standard Chartered Bank has announced 13.6 percent dividend with 10 percent bonus and 3.6 percent cash. </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"">Prabhu Bank, Mega Bank, Laxmi Bank, Everest Bank, Kumari Bank, Nepal Credit and Commerce Bank (NCC), Sunrise Bank and Century Bank, Nepal SBI Bank have also announced dividend shares and cash bonus. </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"">Out of the declared dividend, the cash is deposited directly in the bank account while bonus shares will be entered into demat account provided by the investor. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14265', 'image' => '20211222104354_dividend.jpg', 'article_date' => '2021-12-22 10:43:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14517', 'article_category_id' => '266', 'title' => 'Radisson Hotel Marks Christmas Tree Lighting Ceremony', 'sub_title' => '', 'summary' => 'December 21: Radisson Hotel celebrated the Christmas Tree Lighting Ceremony on December 19 to welcome the holiday season of tourists.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 21: Radisson Hotel celebrated the Christmas Tree Lighting Ceremony on December 19 to welcome the holiday season of tourists. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Subrata Banerjee, the general manager of Radisson Hotel, officiated the ceremony which was marked with Christmas carol played by professionals. Issuing a statement, the hotel said that the most anticipated moment of the ceremony was lighting the Christmas Tree. The honors were done by Alina B Novikova, spouse of Russian Ambassador to Nepal, the statement further said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Tree%20Lighting%202.jpeg" style="height:533px; width:800px" /></span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The special attractions of the ceremony included live Christmas carol along with display of ginger bread house, jingle bells, Christmas delicacies and Santa Claus spreading joy among all the invitees with other fun filled festive activities. According to the hotel, all of the attendees had a good time filled with joy at the ceremony.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif""><img alt="" src="/app/webroot/userfiles/images/Tree%20Lighting%204.jpeg" style="height:533px; width:800px" /></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14263', 'image' => '20211221083225_Tree lighting.jpeg', 'article_date' => '2021-12-21 20:30:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14520', 'article_category_id' => '1', 'title' => 'NRB Demands Cash Margin for Opening LC to Import Goods', 'sub_title' => '', 'summary' => 'December 21: Nepal Rastra Bank (NRB) has made it mandatory to keep cash margin when opening letter of credit (LC) for importing luxury goods.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">December 21: Nepal Rastra Bank (NRB) has made it mandatory to keep cash margin when opening letter of credit (LC) for importing luxury goods. Such measure was introduced to control the declining foreign exchange reserves. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB issued a directive for its own banking department, provincial offices, commercial banks and national level banks on December 20 and introduced the new provision. When banks open LC for the purpose of importing the goods, they need to take into consideration cash margin from the importer.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has implemented such provisions for the import of goods with various harmonic codes. When importing goods with harmonic codes 0907, 17, 22, 24, 3303, 3304, 3305, 44, 64, 65, 66, 67, 68, 69, 7010, 7106, 8703, 8711, 9403 and 9504.40.00 margin of fifty percent to cent percent should be available. Likewise, while importing items with codes from 8703 to 8711, fifty percent margin should be available.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has directed to keep a hundred percent cash margin on other items. NRB has introduced such provisions for the import of silver, motorcycles, vehicles, sugar, metal furniture, water, lead products, make-up and other items.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to NRB interest can't be paid on such margin. Also, it has instructed that loans cannot be disbursed for the purpose of keeping margin amount. Banks are required to take margin amount at the time of opening the LC and the amount can be used to pay for imports.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">This provision will not apply on imports of medical products. Similarly, this provision will not be applicable to the items imported by the government authorities, diplomatic missions and hospitals.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">NRB has made the new provision in view of the declining foreign exchange reserves. Lately, foreign exchange reserves have been steadily declining particularly through imports. As a result, the balance of payments has also incurred a loss of Rs 150 billion.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Gunakar Bhatt, Spokesperson of NRB said the flow of foreign currencies is increasing with the increase in imports. This is having impact on foreign exchange reserves and the balance of payments. The recent decision has been taken to control imports. According to the central bank, this provision will be removed once the situation normalizes. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Some banks are already taking margins when opening LCs for import of various commodities. The central bank has introduced the provision in paper as a short term solution.</span></span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-22', 'modified' => '2021-12-22', 'keywords' => '', 'description' => '', 'sortorder' => '14262', 'image' => '20211222044615_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-12-22 16:45:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14516', 'article_category_id' => '266', 'title' => 'Hami Nepal Pledges to Maintain Transparency through its Website', 'sub_title' => '', 'summary' => 'December 21: Hami Nepal, a youth-led non-profit organization, on Monday launched its website with the aim of maintaining transparency of the donated funds and all the expenses of the organization.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">December 21: Hami Nepal, a youth-led non-profit organization, on Monday launched its website with the aim of maintaining transparency of the donated funds and all the expenses of the organization. According to a statement issued by Hami Nepal, the website was launched on the occasion of the first AGM of the organisation held at Hotel Badagaon in Bhaktapur.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">The statement further said that the main objective of the AGM was to pay respect to its volunteers and all the well-wishers who have been supporting them since their establishment in 2015. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"><img alt="" src="/app/webroot/userfiles/images/PIC%202.jpg" style="height:533px; width:800px" /></span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">President of the organization Sudan Gurung said that the purpose of the organization is to have a positive impact on society by “changing how we think about others and how we connect – changes that are more important than ever. Our group also serves as a voice for those who have no one else to speak for them.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">Gurung, on behalf of his entire team, expressed gratitude to all the donors and volunteers from all over the world who have shown endless support and love to make their vision a success.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"> “We believe that the website will help build more trust in our organization as it is a verifying platform for all the donors to keep track of their donations. It will also connect donors and the recipients directly,” said Gurung, adding, “Furthermore, the website will be a transparent platform where donors can check the status of past and ongoing projects.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto">On the occasion, Hami Nepal honored the guests including Dr Sanduk Ruit (Chairman of Barbara Foundation), Deepak Bhatta (Chairman of Infinity Holdings), Upendra Hirawat (Director of Infinity Holdings), Sulav Agrawal (Vice Chairman of Shankar Group), Sahil Agrawal (Managing Director of Shanker Group), who have continuously helped the organization to reach its goals of selflessly serving the needy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:Roboto"><img alt="" src="/app/webroot/userfiles/images/PIC%204.jpg" style="height:533px; width:800px" /></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14261', 'image' => '20211221051757_PIC 3.jpg', 'article_date' => '2021-12-21 17:15:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14515', 'article_category_id' => '1', 'title' => 'Nepal Receives Investment Pledges of Rs 30 Billion in Current FY', 'sub_title' => '', 'summary' => 'December 21: Nepal has received foreign investment commitment of Rs 30 billion in the first five months of the current fiscal year that began on July 16. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 21: Nepal has received foreign investment commitment of Rs 30 billion in the first five months of the current fiscal year that began on July 16. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the data unveiled by the Department of Industries, foreign investors have committed to invest around Rs 30 billion in 122 industries in the past five months (July 16 to December 7) of the current fiscal year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The department’s information officer Gyanendra Parajuli said those industries have been registered under six different categories. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The highest commitment is for the service-oriented sector as investors have pledged Rs 15.95 billion for 35 industries under this category. Towards the service sector, pledges have been received from China (Rs 600 million for four industries based on agriculture and forest products), from Netherlands (Rs 56 million for energy-based industry and Rs 450 million for four industries relating to information, communications and broadcasting service. Likewise, Rs 3.24 billion has been pledged for 19 production-based industries and Rs 9.55 billion for 55 tourism industries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">China is the country that has pledged the highest investment (around 80 percent) in Nepal in the review period. China has pledged for investment of over Rs 23.64 billion in 102 industries. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14260', 'image' => '20211221045946_20210113033332_foreign-investment.jpg', 'article_date' => '2021-12-21 16:59:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14514', 'article_category_id' => '1', 'title' => 'Mustard Production Increasing in Chitwan District', 'sub_title' => '', 'summary' => 'December 21: The production of mustard has increased in Chitwan district with the increase in area of plantation.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 21: The production of mustard has increased in Chitwan district with the increase in area of plantation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the statistics of the Directorate of Agricultural Development, 12,180 metric tons of mustard was produced on 12,255 hectares of land in the fiscal year 2076/77. In the last fiscal year (FY 2077/78), a total of 12,218 metric tons of mustard was produced on 12,260 hectares of land.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As mustard has been planted in 12,270 hectares of land in the current fiscal year, the production is expected to increase this year as well. “The weather is favorable now, the mustard flowers are in good condition and there is no frost. It is likely that the production will increase,” said Yuvraj Pandey, head of the Directorate of Agricultural Development, Chitwan. Lately, farmers have been attracted towards mustard farming.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Madhav Poudel, information officer at the Prime Minister's Agriculture Modernization Project, Chitwan said that the increase in production was due to the increase in attraction towards mustard farming and the implementation of pocket and block programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">“The demand and price of mustard has also increased,” he said, adding, “That is why the farmers have started cultivating mustard instead of other crops.” According to Poudel, a mustard block program has been introduced in Madi of the district this year. Poudel says that there will be an increase in production this year due to good flowering and good pollination.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the last few fiscal years, the area for mustard plantation was fluctuating which directly impacted mustard production. In the fiscal year 2074/75, mustard farming was done on 12,251 hectares of land while the production was 12,200 metric tons and in the fiscal year 2075/76, mustard was planted on 12,260 hectares of land with an output of 12,300 metric tons of mustard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The production of mustard planted in the district has been fluctuating. According to the Directorate of Agricultural Development, the production of mustard was fluctuating due to changes in irrigation, fertilizer and seasonal adaptations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Center, productivity per hectare is estimated to be 995.83 kg in fiscal year 2074/75, 1003.26 kg in FY 2075/76, 993.88 kg in FY 2076/77, 996.57 kg in FY 2077/78 and 1000 kg in the current Fiscal Year. It is estimated that 10 metric tons more will be produced this year as the area under mustard cultivation has increased by 10 hectares as compared to last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In Chitwan, mustard and sesame are planted in the category of oilseeds. Local as well as varieties of mustard are grown here. Oilseeds are planted in about 28 percent of the cultivable land in the district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14259', 'image' => '20211221011631_5632idea99mustard.jpg', 'article_date' => '2021-12-21 13:15:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14513', 'article_category_id' => '1', 'title' => 'Nepal's Tourism Promotion in China Stalled since Covid-19 Outbreak', 'sub_title' => '', 'summary' => 'December 21: Nepal's tourism promotion in China has been stalled since the past two years due to the Covid-19 outbreak.', '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 21: Nepal's tourism promotion in China has been stalled since the past two years due to the Covid-19 outbreak. Although the number of Chinese tourists visiting Nepal is the highest after Indian tourists, Nepal's tourism entrepreneurs have yet to conduct any publicity and marketing activities in China since the outbreak of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first week of November 2019, government officials and tourism entrepreneurs of Nepal were in China to promote the Visit Nepal 2020 campaign. Since then, Nepal has not made any promotion campaigns in China. Tourism entrepreneurs say they are yet to promote Nepali tourism in China due to the Covid-19 outbreak, lockdown, and restrictions. Strict policies in China have also affected promotion plans.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sajan Shakya, general secretary of the Hotel Association of Nepal (HAN), said that he visited China for tourism promotion at the end of 2019 and is yet to make any further visit. He said that it is necessary to stress on publicity in China in the current market strategy. In the 'Nepal Tourism Statistics-2020' index, Myanmar has risen to the second position in 2020, surpassing China as the second-largest tourist destination in Nepal in 2019.</span></span></span></span></p> <p><span style="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 number of tourists coming from China has gradually increased since 2016. However, the number has dropped dramatically since 2020. Around 170,000 Chinese tourists visited Nepal in 2019 which declined to 19,000 in 2020. As of November 2021, altogether 3,239 Chinese tourists visited Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the number of tourists from other countries increased in 2021, arrival of Chinese tourists has not improved.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14258', 'image' => '20211221113521_20210629020224_20210402.jpg', 'article_date' => '2021-12-21 11:34:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14511', 'article_category_id' => '1', 'title' => 'Is Nepal's Education becoming Limited to Certificates? ', 'sub_title' => '', 'summary' => 'December 21: Minister for Education, Science and Technology Devendra Paudel has said it is high time for soul-searching on whether the skills and knowledge obtained from higher education have been limited to certificate in the context of Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 21: Minister for Education, Science and Technology Devendra Paudel has said it is high time for soul-searching on whether the skills and knowledge obtained from higher education have been limited to certificate in the context of Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Paudel made such remark while addressing the 47th Convocation Day of the University on Monday, December 20. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, he expressed concerns regarding brain-drain and said that the country's skilled human resources are compelled to go abroad seeking employment opportunities at a time when Nepal needs to bring the knowledge and experiences from across the world scenario into the country for the nation's development. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"I wonder whether it is the educational programmes and contents of our universities that are not matching the requirements of our life or is it that we only have confined the skills and knowledge we learned to certificate alone and failed to translate them into practice. It is time to ponder over this matter," the state-owned national news agency RSS quoted the education minister as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He suggested the graduates who have got their degrees to use the skills they have learned to bring about improvement in the society, by synchronizing the knowledge learned with the world scenario and local needs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Education Minister Paudel reportedly said that Nepal could not move forward on the path of development as per the expectation because the available means and resources at its disposal could not be utilized in a judicious manner in spite of its cultural, geographical and natural diversities and richness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Education Minister and TU Pro-Chancellor urged the TU, the country's biggest and oldest university, to address the issues of poverty and unemployment by providing a world-class education. He suggested the university to make its research institutions more effective. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, Education Minister Paudel underscored the need of linking education to skills and skills to production and employment to stop large amount of money going abroad in the name of higher and quality education. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14257', 'image' => '20211221081849_education.jpg', 'article_date' => '2021-12-21 08:18:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14512', 'article_category_id' => '1', 'title' => 'Ownership Transfer of Khimti Hydropower Project Delayed', 'sub_title' => '', 'summary' => 'December 21: The ownership transfer of fifty percent shares of Khimti Hydropower Project to the government has been delayed due to lack of consensus between the NEA and the promoter company. ', 'content' => '<p><span style="font-size:18px">December 21: The ownership transfer of fifty percent shares of Khimti Hydropower Project to the government has been delayed due to lack of consensus between the NEA and the promoter company. As per the agreement reached between the government and the promoter company, Himal Power, fifty percent shares of the project should be owned by Nepal Electricity Authority from July 11, 2020. However, the transfer has not taken place.</span></p> <p><span style="font-size:18px">The officials of the Ministry of Energy, Water Resources and Irrigation and NEA said that discussions are still underway for the transfer of share ownership. They have been in discussions with the promoter company for the last two years. However, no concrete decision has been made. </span></p> <p><span style="font-size:18px">Spokesperson of the Ministry and Joint Secretary Madhu Prasad Bhetuwal said that discussions are underway to transfer ownership of the Khimti project. Both the parties are yet to reach agreement on some issues. "Following the share transfer, the same company is required to take responsibility for the operation of the project which the company has objected to," he said. </span></p> <p><span style="font-size:18px">Meanwhile, Kulman Ghising, managing director of NEA, said that the process of share transfer has been delayed due to Himal Power Company. “We are negotiating on issues like PPA, but the delay is due to their side," he said.</span></p> <p><span style="font-size:18px">The COVID-19 pandemic has also delayed the transfer of ownership. Himal Power Company includes foreign investors, and the COVID-19 restrictions prevented physical meetings for a long time.</span></p> <p><span style="font-size:18px">Hydropower projects built by the private sector should be handed over to the government after a certain period of time. This is the first project being handed over to the government by the private sector so it is being looked upon with high priority.</span></p> <p><span style="font-size:18px">Bhetuwal also claimed the government is working on this issue giving due importance. "This is the first hydropower project being handed over to the government. So a wrong precedence should not be established,” he added. <br /> In order to complete the process of share transfer, it is necessary to establish a joint venture company owned by both the authority and the promoter company. Then the company will sign a power purchase agreement (PPA) with NEA. However, such joint company has yet to be established. Also, the two sides have not reached an agreement on PPA. However, both sides have agreed that the current PPA rate will be decided in terms of Nepali currency. The law forbids PPA of projects below 100 MW capacity in foreign currency. </span></p> <p><span style="font-size:18px">This is the first privately funded hydropower project with investment from companies including Butwal Power Company Limited of Nepal, Statkraft SF of Norway and Alstom Power S. <br /> An agreement was signed between the then government and the company to transfer 50 percent shares of the project to NEA after twenty years of production. After fifty years of operation of the project, NEA will have full ownership of the project.</span></p> <p><span style="font-size:18px">Currently, the project is being operated by signing an interim agreement between Himal Power and NEA. <br /> The interim agreement between NEA and Himal Power Company has been extended till mid-July 2022 as the transfer of ownership could not be completed on time. Ghising believes the transfer of ownership will be completed by mid-July.</span></p> ', 'published' => true, 'created' => '2021-12-21', 'modified' => '2021-12-21', 'keywords' => '', 'description' => '', 'sortorder' => '14256', 'image' => '20211221112231_20210823010727_20210119023725_1611012723.Clipboard02.jpg', 'article_date' => '2021-12-21 11:21:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14509', 'article_category_id' => '1', 'title' => 'CNI Calls for Capping Profits of Banks', 'sub_title' => '', 'summary' => 'December 20: The entrepreneurs and businessmen of Biratnagar are obliged to pay taxes under different headings if they make profits above 20 percent. ', '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 20: The entrepreneurs and businessmen of Biratnagar are obliged to pay taxes under different headings if they make profits above 20 percent. Meanwhile, this policy is not applicable for banks. The banks can earn as much as they want and are exempt of paying extra taxes. The Confederation of Nepalese Industries (CNI) has called upon the concerned authorities to cap the profits made by the banks as well.</span></span></span></span></p> <p><span style="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 president of Province 1 chapter of CNI, Bhim Ghimire, along with other businessmen has warned the government that they will start protest if this unfair treatment continues. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> “We want to draw your attention to take the initiative to keep the banks’ interest rate unchanged from single digit and to keep the interest rate system stable and sustainable until the country's economic situation improves so as not to affect investors who have already invested in manufacturing industries and infrastructure projects,” said Ghimire.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ghimire accused that the banks are getting motivated to earn profits like businessmen instead of being a medium to uplift the nation's economy.</span></span></span></span></p> <p><span style="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 statement issued by the CNI says that the banks in Nepal have become profit-oriented just like the rich merchants of ancient period. The confederation has also stated that banks and financial institutions are the main reason for the economic turmoil and inability to build capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> “How long will the investors and the general public have to suffer due to the banks increasing interest rates showing the problem of lack of liquidity?” the statement said, adding, “We are beginning to realize that the industry is collapsing in the game of raising and lowering interest rates every month and that the government and the central bank are only taking care of the banks”.</span></span></span></span></p> <p><span style="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 industrialists have also demanded that the investors of banks and the investors of industries should be different. President Ghimire questioned that since the investors of banks as well as industries are the same, does the central bank have any idea about where and how the economic activities of the country is heading towards? “We want to make sure that the central bank and the government do not ignore this,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mahesh Jaju, senior advisor to the confederation, said that the banks have stopped opening LCs for foreign trade and imports. He claimed that the trade of the country would come to stand still and cause a problem in supply of materials due to this activity of the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We are appealing to the government to prevent the country's economy from coming to a standstill, otherwise we will be forced to protest on the streets,” said Jaju adding that this will cause a reduction of government revenue.</span></span></span></span></p> <p><span style="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 a recent press conference, Pawan Sarda, a member of the Constituent Assembly and former president of the Morang Trade Association and patron of CNI, said that there are problems occurring in imports of goods due to the banks. According to Sarda, the image of Nepali importers and exporters in international business has been tarnished due to the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“After submitting documents to open an LC of Rs 200 million, the banks are demanding a deposit of Rs 50 million in advance,” said Sarda with the adding, “If we had 50 million, why would we seek loan?” He said that if the banks were reluctant to open ASL for foreign trade for a long time, the industries would automatically close down due to the lack of raw materials.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14255', 'image' => '20211220045505_Banks.jpg', 'article_date' => '2021-12-20 16:54:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14510', 'article_category_id' => '1', 'title' => 'Fire Destroys Properties worth Rs 30.5 Million in Indreni Complex ', 'sub_title' => '', 'summary' => 'December 20: A fire that broke out in the sixth floor of a commercial complex at New Baneshwor, Kathmandu gutted properties worth over Rs 30.5 million on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 20: A fire that broke out in the sixth floor of a commercial complex at New Baneshwor, Kathmandu gutted properties worth over Rs 30.5 million on Monday. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to a preliminary investigation of the police, the fire erupted due to electric short circuit in an inverter of a fitness and spa centre in the sixth floor of the Indreni complex. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">SP Dineshraj Mainali of the Metropolitan Police Range, Kathmandu, said the fire has been doused by five fire brigades called in from Kathmandu, Lalitpur and Bhaktapur. -- RSS </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14254', 'image' => '20211220085054_Untitled.jpg', 'article_date' => '2021-12-20 20:50:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14508', 'article_category_id' => '1', 'title' => 'Registration of SMEs Doubled in a Year ', 'sub_title' => '', 'summary' => 'December 20: The registration of micro, cottage and small scale industries have increased across the country amid the covid-19 pandemic.', '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 20: The registration of micro, cottage and small scale industries have increased across the country amid the covid-19 pandemic. According to the ‘Micro, Cottage and Small Industries Statistics 2020/21’ released by the Department of Industry a few days ago, the registration of such industries has increased significantly in the last fiscal year as compared to the previous year. The department also informed that the investment in SMEs have also increased. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statistics show that a total of 83,386 industries were registered in 77 districts during the review period, which is almost double the previous year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The proposed total capital of the registered companies last year was Rs 185.20 billion and it is estimated that those industries will create employment for 311,693 people after they come into operation. </span></span></span></span></p> <p><span style="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 fiscal year 2076/77, a total of 45,854 industries were registered across the nation. Likewise, the proposed capital of all those industries was Rs 111.15 billion. These registered industries were expected to provide employment to 169,771 after their operation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Pushparaj Shivakoti, a statistics officer involved in writing the report, says that the number of registered industries has also increased as the number of youths who want to do something in the country has increased after the pandemic. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the statistics of the two fiscal years, the total number of micro, cottage and small industries has reached more than 487,000 so far. </span></span></span></span></p> <p><span style="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 highest number of such industries have been registered in Bagmati Province (32 percent) and the lowest in Karnali Province.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> As per the data of the department, only 5 percent micro, cottage and small industries have been registered in Karnali. Likewise, 17 percent of such industries are registered in Lumbini, The registration of such industries in Province 1 and Province 2 is 14 percent each while 11 percent of industries have been registered in Gandaki Province and 7 percent in Far Western Province.</span></span></span></span></p> <p><span style="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 small scale industries have been catagorised into eight different sections. Among them, manufacturing, agriculture and forestry, tourism and service sectors have the highest number of registered industries. </span></span></span></span></p> <p><span style="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 highest number of registered industries are service-oriented industries and the lowest is the IT industry. So far, 178,662 service-oriented industries have been registered. </span></span></span></span></p> <p><span style="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 department has included the registration from the fiscal year 2051/52 in this report. </span></span></span></span></p> <p><span style="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 Federation of Nepalese Chambers of Commerce and Industry, such industries have contributed about 22 percent to the gross domestic product (GDP) and there are more than 2.5 million entrepreneurs. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14253', 'image' => '20211220020347_20200923125807_1198.jpg', 'article_date' => '2021-12-20 14:02:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14507', 'article_category_id' => '1', 'title' => 'Water Supply in Kathmandu Valley Less than One Third of Demand ', 'sub_title' => '', 'summary' => 'December 20: Water supply in the Kathmandu Valley is less than one third of the demand. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">December 20: Water supply in the Kathmandu Valley is less than one third of the demand. The Kathmandu Upatyaka Khanepani Limited (KUKL) distributes around 130 million litres of water on a daily basis, despite the demand of around 430 million litres of water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The supply further goes down during the dry season in March, April and May as the distribution is around 110 million liters. During rainy season, the distribution reaches up to 160 million litres. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shortage of drinking water is a perennial issue in the Kathmandu Valley since a long time. The Valley denizens are forced to seek alternative sources for water for daily needs as the supply from the KUKL is insufficient. Sometimes, the distribution remains halted for many days. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to KUKL, 237,000 taps have been fixed in the Valley. Water taps fixed illegally are also found in many areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Water from Sundarijal, Mahadevkhola, Nakhhu, Shesh Narayan, Hititole, Saatmul, Kuturi, Devaki, Basuki, Balkhu River, Muldole, Charghare, Bishnumati, Panchmane, Chhahare, and Alle is collected and distributed in the Kathmandu. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In some areas, underground water is supplied as water collected from natural resources is insufficient At present, underground water is pulled from around 80 locations for the distribution. The KUKL is preparing to add around 10 million of underground water in the supplies from this year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A study shows that the demand for water increases by some 10 per cent each year in the Kathmandu Valley. Growing population, a rise in the physical construction works and drying natural water resources have posed challenges to the water supply system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Kathmandu Valley Water Supply Management Board and the KUKL have signed a 30-year agreement beginning from February 13, 2008. As per the agreement, the KUKL is responsible for water supply in the Valley. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14252', 'image' => '20211220110034_20210726100917_20200903113103_1599056781.jpg', 'article_date' => '2021-12-20 10:59:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14506', 'article_category_id' => '1', 'title' => 'Demand for Electricity Increasing Every Year: NEA', 'sub_title' => '', 'summary' => 'December 20: The demand for electricity has increased significantly in the domestic market, thanks to the effective policy of the government and practical action plan among other initiatives. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 20: The demand for electricity has increased significantly in the domestic market, thanks to the effective policy of the government and practical action plan among other initiatives. The demand for electricity has been increasing by 20 per cent every year on an average, according to Nepal Electricity Authority (NEA). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The NEA informed that the internal demand for electricity has suddenly increased due to the steps taken to increase the electricity demand and the increase in cold weather. The peak demand for electricity this year has increased compared to the previous year and it is in the range of 300 megawatts. NEA has adopted the policy of promoting the use of electric appliances and to provide the required energy to the industries with the aim of increasing the domestic consumption of electricity following a surplus of electricity in the market. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The big industries have been supplied with electricity as per their demand and this has helped enhance their production capacity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NEA has provided 30 megawatts of electricity to Hongshi Cement Industry, the largest cement factory in the country, since the second week of November. Another cement factory with Chinese investment, Huashin Cement Industry, has also taken 20 megawatts electricity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Electricity demand capacity both in terms of megawatts and energy units is found increasing. For instance, the peak demand in the system on December 13 was 1,539 megawatts whereas the peak demand on the same day last year was 1,217 megawatts – an increase of 322 megawatts. On this basis, the peak demand for electricity has increased by 26.5 per cent this year compared to the demand on the same date last year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In order to meet the peak demand for electricity on December 13, NEA had managed 540 megawatts of electricity from its power houses, 529 megawatts from the powerhouses of its subsidiary companies and 425 megawatts from the private sector power houses, and imported 25 megawatts from India. Four megawatts electricity was exported to India even during peak time on that date. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, electricity demand has also increased suddenly in the Kathmandu Valley and surrounding regions where there is high electricity consumption. The peak demand in the Valley last year was 293 megawatts and it has gone up to 382 megawatts this year. This shows that the demand for electricity has increased notably in the Kathmandu Valley as well. The use of electric induction ovens has increased in the Valley. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On the basis of the energy demand, the electricity consumption was 27.2 million units on December 13, which is 28.65 per cent more compared to 21.1 million units on the same day last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-20', 'modified' => '2021-12-20', 'keywords' => '', 'description' => '', 'sortorder' => '14251', 'image' => '20211220105149_NEA.jpg', 'article_date' => '2021-12-20 10:51:15', '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
