KATHMANDU: The schedule for presenting the annual budget for the fiscal year 2024-25 has been postponed by two…
KATHMANDU: The schedule for presenting the annual budget for the fiscal year 2024-25 has been postponed by two…
GENEVA: The World Health Organization chief on Monday urged countries to nail down a landmark global agreement on handling of future pandemics after they missed a hard…
BENI: Beni Municipality of Myagdi has started a digital house numbering system with QR…
KATHMANDU: The government is preparing to introduce a large-sized budget for the next fiscal year (FY 2081/82) despite resource…
KATHMANDU: The government is unveiling the budget for the upcoming fiscal year (FY 2024/25) today, May…
The British Council's Cultural Protection Fund has announced 22 new projects across 10 countries, with a total funding of over £2 million. These projects aim to protect cultural heritage at risk from the effects of conflict and climate…
KATHMANDU: Fifteen public enterprises including the Nepal Airlines Corporation (NAC) have been operating at a loss for a couple of years or…
KATHMANDU: There has been an improvement in the profits of public enterprises (PEs) in FY…
The Nepal Stock Exchange (NEPSE) Index witnessed a minimal gain of 3.93 points, equivalent to 0.18%, closing at 2113.27 on the second trading day of the week,…
KATHMANDU: Nepal Electricity Authority (NEA) has added 225,000 new electricity customers in the first eight months of the current fiscal…
KATHMANDU: The government has estimated nation's economy to expand by 3.9 per cent in the current fiscal year owing to the growth in the agriculture and service sectors despite the contraction in the productive sector including the industries and construction…
KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and…
KATHMANDU: Irrigation facilities have been added to 1,640 hectares of land in the current fiscal year.…
MUGU: A marauding gang of looters plundered Dolphu village of Mugum Karmarong rural municipality-1 in Mugu district, taking advantage of the absence of villagers on…
KATHMANDU: The government’s arrears increased by 14.05 percent in last fiscal…
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Speaker Devraj Ghimire had initially scheduled the budget speech for 1:00 pm today before a joint sitting of the Federal Parliament. However, it has been rescheduled for 3:00 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barshaman Pun will be presenting the budget for the upcoming fiscal year in the joint parliamentary session today. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20828', 'image' => '20240528013059_Parliament.jpg', 'article_date' => '2024-05-28 13:30:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21100', 'article_category_id' => '1', 'title' => 'WHO Chief Urges Countries to Quickly Seal Pandemic Deal ', 'sub_title' => '', 'summary' => 'GENEVA: The World Health Organization chief on Monday urged countries to nail down a landmark global agreement on handling of future pandemics after they missed a hard deadline. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">GENEVA: The World Health Organization chief on Monday urged countries to nail down a landmark global agreement on handling of future pandemics after they missed a hard deadline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Scarred by Covid-19 -- which killed millions, shredded economies and crippled health systems -- nations have spent two years trying to forge binding commitments on pandemic prevention, preparedness and response. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Negotiators failed to clinch a deal ahead of this week's World Health Assembly -- the annual gathering of WHO's 194 member states -- the deadline for concluding the talks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WHO chief Tedros Adhanom Ghebreyesus opened the assembly Monday, saying he was confident that an agreement would be secured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Of course, we all wish that we had been able to reach a consensus on the agreement in time for this health assembly and crossed the finish line," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"But I remain confident that you still will, because where there is a willquickly seql, there is a way." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tedros said the task before negotiators had been "immense, technically, legally, and politically", and that they had been "operating on a very ambitious time line". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"You have demonstrated a clear commitment to reaching an agreement," he said, adding that negotiators had "worked long days and nights", closing meetings as late as 4:00 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He hailed their dedication to push forward despite "a torrent of misinformation that was undermining your negotiations". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While missing Friday's deadline, countries have voiced a commitment to keep pushing for an accord. </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"">Negotiators are due on Tuesday to present the outcome of the talks to the assembly, which runs until June 1, and the assembly will take stock and decide what to do next. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I know that there remains among you a common will to get this done, so, there must always be a way," Tedros said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Meaning the solution is in your hands," he stressed. </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"">Parallel talks have also taken place on revising the International Health Regulations, which were first adopted in 1969 and constitute the existing international legally binding framework for responding to public health emergencies around the world. </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 proposed amendments to the IHR, including adding more nuance to a system meant to alert countries to potential health emergencies of global concern, might have a better chance of being adopted during this week's assembly, observers said. – AFP/RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20827', 'image' => '20240528111342_20240114110800_WHO.jpg.jpeg', 'article_date' => '2024-05-28 11:13:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21099', 'article_category_id' => '1', 'title' => 'Beni Adopts Digital House Number System ', 'sub_title' => '', 'summary' => 'BENI: Beni Municipality of Myagdi has started a digital house numbering system with QR code. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BENI: Beni Municipality of Myagdi has started a digital house numbering system with QR code. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The digital house number system has been implemented with information and details of all the residents of the municipality. The digital house number system has been implemented to facilitate service delivery, good governance and effective disaster management, said Mayor Surat KC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The QR code of the digital house number system shares 90 types of information such as the location of the house, the number of floors, color, number of rooms, the type of house structure etc. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The digital numbering campaign began on Friday evening with Mayor KC handing over the digital house number to Lilaram Gautam and Devi KC of New Road in Beni Municipality-8. In the first phase, digital house number plates will be placed in 1,900 houses of Ward No. 7 and 8 of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The information and details of 7,200 houses in all 10 wards of the municipality have been recorded in the electronic system. According to the municipality, preparations are being made to print digital number plates to be placed on the houses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Uttam Karmacharya, the Ward Chairman of Beni Municipality-8, said that the digital house number system has been developed to stop misuse of benefits and avoid duplication while house owners can update their details and seek immediate support for pregnant women, new mothers, sick people, and during the time of disaster. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20826', 'image' => '20240528111135_m1.jpg', 'article_date' => '2024-05-28 11:10:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21097', 'article_category_id' => '1', 'title' => 'Government Likely to Introduce Large Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is preparing to introduce a large-sized budget for the next fiscal year (FY 2081/82) despite resource crunch.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">BIJAY DAMASE</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is preparing to introduce a large-sized budget for the next fiscal year (FY 2081/82) despite resource crunch. </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 constitutional provision, the government must present the budget in the Federal Parliament on the 15<sup>th</sup> of Jestha (May 28 this year). Finance Minister Barshman Pun is set to announce a budget of around Rs 1.95 trillion on Tuesday afternoon. Although the Resource Committee, led by the Vice Chairman of the National Planning Commission, had previously set a budget ceiling of Rs 1.8 trillion, the government has decided to introduce a budget exceeding the ceiling.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister Pun's budget will include several popular and ambitious plans and programs, including those from the ruling coalition's minimum common program. In recent years, the government has been reducing the size of budget during the mid-term review due to lower-than-expected revenue and constrained expenditure. For the current fiscal year 2080/81, the government initially proposed a budget of Rs 1.75 trillion, but it was downsized by Rs 220 billion to Rs 1.53 trillion through the mid-term review. As of Sunday, the Finance Controller General Office reported that the government has not even spent Rs 1.2 trillion budget allocated for 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">With the country facing a slump in the economy, the government has failed to meet the revenue collection target. During the mid-term review of the budget, the revenue target was reduced from Rs 1.42 trillion to Rs 1.202 trillion, partly due to decreased imports and lower revenue from customs and domestic economic activities. The government estimates the economy will grow by 3.9 percent this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Former Chief Secretary Bimal Koirala argues that a large budget will only increase the financial burden when the economy is weak. "I used to believe in increasing the budget size, but now, given the state of the economy and low investor confidence, it's appropriate to maintain a more moderate budget," said Koirala. He noted that increasing the budget during economic slowdowns can stimulate the economy, but this is ineffective if the government cannot spend the allocated funds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Government officials have indicated that the budget will focus on cutting unnecessary expenses, although past expenditure reduction programs have yielded little visible results. The government has been criticized for seemingly continuing costly and unnecessary activities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government is likely to continue the populist program and restructure the Prime Minister's Employment Program, with employment fairs planned in all seven provinces next year. The Prime Minister's Daughter Program will also get prioritity. The budget will allocate significant funds for the Prime Minister's Daughter Program, which is managed by the Ministry of Women, Children, and Senior Citizens. Additionally, the government will emphasize national pride projects and transformative plans and announce strict implementation of project banks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sources indicate that due to the ongoing resource constraints, there will be no salary increase for employees, but the government is likely to increase the allowances to address their grievances. The budget will also align with the Parliamentary Constituency Development Program, although the Supreme Court had previously issued an interim order against implementing the program. Discussions are ongoing about increasing the old-age allowance eligibility from 68 to 70 years and increasing benefits for centenarians.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A high-ranking official at the Ministry of Finance revealed plans to expand the tax base, including taxing digital platform businesses and increasing taxes on luxury goods. The government is also considering higher taxes on alcohol and tobacco products. New measures, such as green taxes and IT industry concessions, will be introduced. The budget will offer income tax exemptions for startups and continue the subsidized loan program. Efforts are being made to facilitate new industry registration through a one-door system, establish Special Economic Zones (SEZs), and create industrial villages.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The budget will address issues in cooperatives and microfinance, potentially offering concessions to the borrowers. There were extensive discussions about including the provision of waiving the debts of cooperative and microfinance borrowers in the budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">History of Budget</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Historically, during Prime Minister Matrika Prasad Koirala's tenure, the then Finance Minister Suwarna Shumsher Rana introduced Nepal's first budget of Rs 52,290,000. Suwarna Shumsher established permanent government income sources like income tax and property tax, funded the introduction of Nepal's currency, set exchange rates, and established over 1,600 schools for an educational revolution.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In recent years, the government seems more interested in introducing larger budgets, often without proper implementation of the programs. For example, in FY 2068/69, Finance Minister Bharat Mohan Adhikari presented a budget of Rs 384 billion. By FY 2075/76, the budget had grown to Rs 1315 billion, and then to Rs 1793 billion in FY 2079/80. The budget for the current fiscal year is comparatively smaller, at Rs 1751 billion. Although the budget size has increased over time, the government has not been able to maintain the same pace in expenditure.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20824', 'image' => '20240528102709_20200630083550_Clipboard19.jpg', 'article_date' => '2024-05-28 10:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21096', 'article_category_id' => '1', 'title' => 'Govt Unveiling Annual Budget Today ', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is unveiling the budget for the upcoming fiscal year (FY 2024/25) today, May 28. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The government is unveiling the budget for the upcoming fiscal year (FY 2024/25) today, May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barshaman Pun is scheduled to present the budget in the joint sitting of the federal parliament at 1:00pm today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is presenting the details on estimated annual spending and revenue, according to the parliament secretariat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per Article 119 of Constitution of Nepal, 2072, the government is obliged to present the annual budget in the joint meeting of the federal parliament on the fifteenth day in the Nepali month of Jestha (May 28 this year). -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20823', 'image' => '20240528094806_budget.jpg', 'article_date' => '2024-05-28 09:47:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21095', 'article_category_id' => '1', 'title' => 'British Council's Cultural Protection Fund Announces New Projects', 'sub_title' => '', 'summary' => 'The British Council's Cultural Protection Fund has announced 22 new projects across 10 countries, with a total funding of over £2 million. These projects aim to protect cultural heritage at risk from the effects of conflict and climate change.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> May 28: The British Council's Cultural Protection Fund has announced 22 new projects across 10 countries, with a total funding of over £2 million. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">These projects aim to protect cultural heritage at risk from the effects of conflict and climate change.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In addition to ongoing efforts in the Middle East and North and East Africa, the fund will be working in Pakistan and Nepal for the first time as part of a South Asia pilot programme. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The allocated funding will support cultural heritage protection in Syria, Iraq, Kenya, Sudan, Ethiopia, the Occupied Palestinian Territories, Uganda, Tanzania, and now Pakistan and Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Cultural Protection Fund, led by the British Council in partnership with the UK Department of Culture, Media, and Sport, is the UK's main initiative for international cultural heritage protection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The fund collaborates with organizations and communities across 17 countries to protect both tangible heritage—such as buildings and archaeological sites—and intangible heritage, including music, traditional crafts, and languages.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new projects announced by Cultural Protection Fund for Nepal emphasize on preserving various aspects of cultural heritage. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The projects declared for Nepal include Preservation of Indigenous Food Heritage in Nepal – worth £ 50,000 and Safeguarding the Kusunda (The Ban Rajas) Language and Culture for Future Generations- worth £45,953.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Other projects are Towards Protecting the Cultural Heritage in the High Himalayas of the Shey Phoksundo National Park of Dolpo – worth £36,908 and Preservation and revival of Maithil women’s wall painting and sculpting arts- worth £ 50,000. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">National Indigenous Women’s Federation will deliver preservation of Indigenous Food Heritage in Nepal which focuses on diverse culinary practices in the highland regions of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Through courses for students at local secondary schools and the development of an online learning programme, Archive Nepal and partners hope to increase the speakership of this language and will promote the language further through the production of dual language Nepali and Kusunda books for children.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the same vein, Sampada Samrakshyan Samaj Nepal (ICOMOS Nepal) will work with local government and members of the community to document and improve capacity to care for built heritage that remains an important part of socio-cultural life for the Dolpo community. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, preservation and revival of Maithil women’s wall painting and sculpting arts project will focus on Maithil women’s paintings and mud art heritage. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20822', 'image' => '20240528082909_collage (13).jpg', 'article_date' => '2024-05-28 08:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '21094', 'article_category_id' => '1', 'title' => '15 Public Enterprises Including NAC at Loss', 'sub_title' => '', 'summary' => 'KATHMANDU: Fifteen public enterprises including the Nepal Airlines Corporation (NAC) have been operating at a loss for a couple of years or more.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Fifteen public enterprises including the Nepal Airlines Corporation (NAC) have been operating at a loss for a couple of years or more. This has been stated in the annual review report of the status of public enterprises presented in the parliament on Sunday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The review report shows that of 44 public enterprises that were in existence till the fiscal year 2022-23, 26 were at profit, 15 were at loss, and the business transactions of three organizations were nil. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the report, in the fiscal year 2022-23, the NAC incurred the highest loss among all public enterprises, and this trend was followed by Nepal Water Supply Corporation, Daily Development Corporation (DDC), Udaypur Cement Industry Ltd, and the Nepal Television. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During the last fiscal year, NAC's net loss amounted to over Rs 650 million while the accumulated loss of the corporation exceeded Rs 16 billion. The NAC has been continuously operating at a loss since the fiscal year 2019-20.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"Although the net loss of NAC last fiscal year reduced compared to the fiscal year 2021-22, the financial status of the organization is not satisfactory," the report states. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Challenges in the payment of loans and interests, high administrative expenditures, low business, delayed flights, and the lack of effective implementation of a corporate plan are cited as the reasons behind the NAC facing continued loss. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Nepal Water Supply Corporation and Nepal Television have been at a net loss since the fiscal year 2018-19 while the Udaypur Cement Industry continues to report a loss since the fiscal year 2019-20 and DCC since the fiscal year 2020-21. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the Water Supply Corporation incurred a net loss of over Rs 546 million, and the accumulated loss amounted to Rs 3.30 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The net loss reported by DDC is over Rs 484 million while the accumulated loss is Rs 1.85 billion. Udaypur cement incurred a loss of over Rs 362 million and the accumulated loss amounted to Rs 5.78 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Hetauda Cement incurred a loss of Rs 254 million and the accumulated loss amounted to Rs 1.15 billion while Nepal Aushadhi (Drugs) Limited suffered a loss of Rs 155 million and the company's accumulated loss amounted to Rs 2.13 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Butwal Spinning Mill had a net loss of Rs 34.03 million, with an accumulated loss of Rs 2.12 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although the Food Management and Trading Company Limited earned a net profit of Rs 129.02 million in the review period, its accumulated loss so far amounted to Rs 782.02 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although Nepal Oil Corporation Limited is one of the institutions reporting the highest net profits, it still incurs an accumulated loss of Rs 4.850 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, Nepal Ban Nigam Limited incurred a net loss of Rs 74.03 million but its accumulated profit stood at Rs 70 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The National Productivity and Economic Development Center Limited incurred a net loss of Rs 4.33 million while the accumulated loss was worth Rs 112.09 million. Nepal Railway Company Limited incurred a net loss of Rs 199.06 million, with an accumulated loss of Rs 559.06 million, while the Cultural Corporation incurred a net loss of Rs 14.08 million with an accumulated loss of Rs 284.02 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although Janak Education Materials Center Limited made a net profit of Rs 193.06 million during the last fiscal year, it still had an accumulated loss of Rs 1.19 billion. Nepal Television incurred a net loss of Rs 351.02 million with an accumulated loss of Rs 2.408 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">National Housing Company Limited was operating with a net loss of Rs 10.04 million in the last fiscal year and an accumulated loss of Rs 118.05 million. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20821', 'image' => '20240527063158_20221031011343का २५४ यात्रु अलपत्र.jpg', 'article_date' => '2024-05-27 18:31:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21092', 'article_category_id' => '1', 'title' => 'Profit of Public Enterprises up by 3046 Percent in FY 2022/23', 'sub_title' => '', 'summary' => 'KATHMANDU: There has been an improvement in the profits of public enterprises (PEs) in FY 2022/23.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: There has been an improvement in the profits of public enterprises (PEs) in FY 2022/23. Compared to FY 2021/22, the overall net profit of PEs increased by 3046.20 percent to Rs 48.51 billion in FY 2022/23. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The five PEs with the highest net profit are Nepal Oil Corporation, Nepal Electricity Authority, Nepal Telecommunication Company Limited, Citizen Investment Trust, and Deposit and Credit Protection Fund. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Among these, Nepal Oil Corporation (NOC) made the most significant contribution. The NOC, which incurred a loss of Rs 38.17 billion in FY 2021/22, saw its profit rise to Rs 11.72 billion in FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The total operating income increased by 14.87 percent, rising to Rs 661.01 billion in the fiscal year 2022/23 from Rs 575.43 billion in the fiscal year 2021/22.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Out of 44 existing public enterprises (PEs), 15 have incurred losses. According to the Annual Status Review of Public Enterprises submitted by Finance Minister Barshaman Pun to the Parliament on Sunday, 26 PEs have earned profits, while the transactions of three PEs are zero.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20820', 'image' => '20240527022740_20210429043853_profit-02.jpg', 'article_date' => '2024-05-27 14:27:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21093', 'article_category_id' => '1', 'title' => 'NEPSE Registers Minimal Gain of 3.93 Points to Close at 2113.27', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a minimal gain of 3.93 points, equivalent to 0.18%, closing at 2113.27 on the second trading day of the week, Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 27: The Nepal Stock Exchange (NEPSE) Index witnessed a minimal gain of 3.93 points, equivalent to 0.18%, closing at 2113.27 on the second trading day of the week, Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 317 scrips were traded on the NEPSE through 58,483 transactions. A total of 9,330,295 shares changed hands, resulting in a total turnover of Rs 3.89 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Fund Limited (NRN) led with the highest turnover of Rs 20 crores. Muktinath Krishi Company Limited (MKCL) and Nepal Warehousing Company Limited (NWCL) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) saw the maximum loss of 10%, closing at a market price of Rs 648 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector indices, all sectors closed in the green territory except for the Banking Index, Hotels and Tourism Index, and Non-Life Index.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20819', 'image' => '20240527035156_collage (12).jpg', 'article_date' => '2024-05-27 15:50:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21091', 'article_category_id' => '1', 'title' => 'NEA Adds 225,000 New Customers in Current Fiscal Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Electricity Authority (NEA) has added 225,000 new electricity customers in the first eight months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: Nepal Electricity Authority (NEA) has added 225,000 new electricity customers in the first eight months of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the Economic Survey 2023/24, the number of electricity customers reached 5.87 million by Faglun (mid-March 2024), up from 5.64 million in mid-July 2023.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-March 2024, a total of 2,975 MW of electricity has been connected to the national grid. The Economic Survey reports that this includes 660 MW from projects operated by the NEA, 492 MW from subsidiary projects of the NEA, and 1,822 MW from projects developed by the private sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20818', 'image' => '20240527022525_20240117111016_RBP7JUSC26EAGVV5NOFFGNQPX4.jpg', 'article_date' => '2024-05-27 14:24:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21089', 'article_category_id' => '1', 'title' => 'Govt Estimates Economic Growth of 3.9 Percent', 'sub_title' => 'Economic Survey for FY 2023/24 tabled in Parliament', 'summary' => 'KATHMANDU: The government has estimated nation's economy to expand by 3.9 per cent in the current fiscal year owing to the growth in the agriculture and service sectors despite the contraction in the productive sector including the industries and construction sectors.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">KATHMANDU: The government has estimated nation's economy to expand by 3.9 per cent in the current fiscal year owing to the growth in the agriculture and service sectors despite the contraction in the productive sector including the industries and construction sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Finance Minister made such a projection while tabling the Economic Survey of Fiscal Year 2023/24 in a meeting of the House of Representatives (HoR) on Sunday. He presented the Economic Survey after Speaker Devraj Ghimire granted him permission amidst the protest and sloganeering by the main opposition party, the Nepali Congress. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"The overall economic, social, sector-wise development and good governance of the federal, provincial and local levels during the entire period of the last fiscal year and up to eight months of the current FY has been reflected and analyzed," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Noting that the country's economic and social indicators have gradually improved, Finance Minister Pun said the economic growth rate of Gandaki, Bagmati and Lumbini is estimated to remain above the national average and the total investment is likely to increase by 2.8 per cent and reach Rs 1741.48 billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"It is estimated that the per capita income will reach USD 1,456 US. The average consumer price inflation is 6.08 per cent as of March 13 of the current fiscal year. There is gradual improvement in the revenue mobilization," he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Informing the House that the revenue collection of the federal government by mid-March of the current FY has increased by 9.7 per cent and reached Rs 639.5 billion, Finance Minister Pun said the federal expenditure increased by 2.9 per cent to reach Rs 801.58 billion during this period. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"The total public debt has reached Rs 2388. 26 billion as of mid-March. Of the total debt, domestic debt is 49.6 per cent and external debt 50.4 per cent. In the FY 2079/80 BS (2022/23), the provincial and local levels received Rs 517. 62 billion, including Rs 397.62 billion through the fiscal transfer from the federal level and Rs 120. 62 billion through revenue allocation," Minister Pun further added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Reiterating that the fiscal sector is gradually improving, he said there is adequate liquidity in the banking system and the interest rate of loans and deposits is decreasing. He informed the parliament that the loan disbursement towards the private sector as of mid-March of the current FY has increased by 5.6 per cent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The finance minister said the per bank branch population has reached 2,515 with the expansion of the network of banks and financial institutions as well as the transactions carried out through electronic means and the promotion of financial literacy. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20817', 'image' => '20240527014844_20240426010045_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-27 13:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21090', 'article_category_id' => '218', 'title' => 'Mahalaxmi Bikas Bank and NCHL sign MoU for Facilitating International Transactions', 'sub_title' => '', 'summary' => 'KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, Mahalaxmi Bikas Bank claimed that it is the first development bank to enter into an agreement with NCHL for payments of international transactions. The bank has been able to provide this facility as there are Nostro accounts operating in India, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Indian citizens in Nepal will be able to directly transfer funds to their accounts in India through any UPI handle linked account opened in Mahalaxmi Bikas Bank under the limit set by Nepal Rastra Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepali citizens in India can transfer money directly to Mahalaxmi Bikas Bank's UPI handle linked account in Nepal by using the UPI enabled app, subject to the limits set by the regulatory body in India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This cross-border payment is expected to directly benefit students, pilgrims, tourists and customers going to India for medical treatment and vice versa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief Executive Officer of Mahalaxmi Bikas Bank Dipesh Lamsal and Chief Executive Officer Nileshman Singh Pradhan on behalf of NCHL signed the agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Embracing the slogan of "Strong Bank, Successful Cooperation", Mahalaxmi Bikas Bank said it has been continuously providing quality financial services at the doorsteps of Nepalese citizens for the past 29 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition, the 22nd annual general meeting of the bank held on January 13, 2024 also passed a resolution to bring foreign banks or financial institutions as strategic partners, the statement added.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20816', 'image' => '20240527022352_IMG-54ea918ad0afe60ae6e1194fabe09ebc-V.jpg', 'article_date' => '2024-05-27 14:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21088', 'article_category_id' => '1', 'title' => 'Irrigation Facilities Expanded by 1,640 Hectares in Current Fiscal Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Irrigation facilities have been added to 1,640 hectares of land in the current fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: Irrigation facilities have been added to 1,640 hectares of land in the current fiscal year. According to Economic Survey, irrigation facilities have reached 88.5 percent of the total irrigable land of 1,760,000 hectares and 59.0 percent of the total arable land of 2,640,000 hectares by mid-March, 2024</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The survey says irrigation facilities have covered 620 hectares through surface irrigation, 270 hectares through lift irrigation, 700 hectares through underground irrigation, and 50 hectares through reservoir irrigation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Overall, irrigation facilities have now reached 1,557,148 hectares of land. Of these areas with irrigation facilities, 65.7 percent are covered by surface irrigation and 34.1 percent by underground irrigation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20815', 'image' => '20240527012605_20240202022345_irrigat.jpg', 'article_date' => '2024-05-27 13:24:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21087', 'article_category_id' => '1', 'title' => 'As Villagers go for Picking Yarsa, Looters Ransack Houses in Mugu ', 'sub_title' => '', 'summary' => 'MUGU: A marauding gang of looters plundered Dolphu village of Mugum Karmarong rural municipality-1 in Mugu district, taking advantage of the absence of villagers on Saturday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">MUGU: A marauding gang of looters plundered Dolphu village of Mugum Karmarong rural municipality-1 in Mugu district, taking advantage of the absence of villagers on Saturday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villagers had left their homes for combing highland meadows in search of yarsagumba, a precious herb with purported aphrodisiac property. </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 armed looters ransacked houses and made away with cashes, jewelries and other goods, according to Chairman of Karmarong rural municipality, Chhiring Kyapne Lama. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There were only elderly and children in the village in which the armed gang robbed. Out of 50 houses, the gang plundered assets from 23 houses," he informed, adding that even a priest at a shrine was beaten by the gang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The gang did not spare even the dogs guarding the houses. </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"">Meanwhile, Chief District Officer Topendra KC informed that a police team was deputed from Pulu police post, a five-hour trek from the village, immediately after receiving the information. Mugum Karmarong-1 Chairman Tunduk Lama had informed police about the looting spree. “The assailants had come with guns, scimitars and khukuris. They looted jewelries, ancient pots, medicinal herbs, and clothes,” he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police, Birendra Thapa, informed that the incident site had no access to communications, so it was difficult to contact the police team mobilized there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ward no 1, 3 and 4 of Mugum Karmarong rural municipality fall in the Tse Phoksundo National Park. After the local level gave permission to collect yarsagumba for this season, the locals had left their villages since May 23 and headed towards the highlands. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20814', 'image' => '20240527121436_yarsa collection.JPG', 'article_date' => '2024-05-27 12:14:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21085', 'article_category_id' => '1', 'title' => 'Govt's Arrears Soar to Rs 669.86 Billion in FY 2022/23', 'sub_title' => '', 'summary' => 'KATHMANDU: The government’s arrears increased by 14.05 percent in last fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: The government’s arrears increased by 14.05 percent in last fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The 61st annual report of the Office of the Auditor General (OAG) highlights a concerning trend of increasing distortions in government spending. Released on Sunday, the report reveals a continued disregard for rules in utilizing government resources.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-July 2023, the government's arrears have soared to over Rs 669.86 billion. The 61st report of the Auditor General indicates a staggering increase of Rs 95.60 billion in arrears during the fiscal year 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Auditor General Toyam Raya presented the 61st report to President Ram Chandra Paudel on Sunday. The Office of Auditor General (OAG) audited a total of Rs 7,881.60 billion in FY 2022/23. The report delineates that arrears under federal government offices amounted to Rs 46.53 billion, with provincial offices accounting for Rs 6.57 billion, and local levels for Rs 31.02 billion. Additionally, other government agencies' arrears reached Rs 11.48 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The 61st report of the Auditor General also reveals that 3,277 government offices under the federal government were audited in FY 2022/23. Among federal ministries, the Finance Ministry exhibits the highest arrears, totaling Rs 25.47 billion, as per the OAG's findings. Following closely behind is the Ministry of Physical Infrastructure and Transport, with arrears amounting to Rs 12.09 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20813', 'image' => '20240527105142_mahalekhaparichhak___________news.2.jpg', 'article_date' => '2024-05-27 10:51:08', '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' => '21101', 'article_category_id' => '1', 'title' => 'Schedule for Budget Speech Postponed by Two Hours ', 'sub_title' => '', 'summary' => 'KATHMANDU: The schedule for presenting the annual budget for the fiscal year 2024-25 has been postponed by two hours.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The schedule for presenting the annual budget for the fiscal year 2024-25 has been postponed by two hours. Speaker Devraj Ghimire had initially scheduled the budget speech for 1:00 pm today before a joint sitting of the Federal Parliament. However, it has been rescheduled for 3:00 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barshaman Pun will be presenting the budget for the upcoming fiscal year in the joint parliamentary session today. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20828', 'image' => '20240528013059_Parliament.jpg', 'article_date' => '2024-05-28 13:30:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21100', 'article_category_id' => '1', 'title' => 'WHO Chief Urges Countries to Quickly Seal Pandemic Deal ', 'sub_title' => '', 'summary' => 'GENEVA: The World Health Organization chief on Monday urged countries to nail down a landmark global agreement on handling of future pandemics after they missed a hard deadline. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">GENEVA: The World Health Organization chief on Monday urged countries to nail down a landmark global agreement on handling of future pandemics after they missed a hard deadline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Scarred by Covid-19 -- which killed millions, shredded economies and crippled health systems -- nations have spent two years trying to forge binding commitments on pandemic prevention, preparedness and response. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Negotiators failed to clinch a deal ahead of this week's World Health Assembly -- the annual gathering of WHO's 194 member states -- the deadline for concluding the talks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WHO chief Tedros Adhanom Ghebreyesus opened the assembly Monday, saying he was confident that an agreement would be secured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Of course, we all wish that we had been able to reach a consensus on the agreement in time for this health assembly and crossed the finish line," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"But I remain confident that you still will, because where there is a willquickly seql, there is a way." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tedros said the task before negotiators had been "immense, technically, legally, and politically", and that they had been "operating on a very ambitious time line". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"You have demonstrated a clear commitment to reaching an agreement," he said, adding that negotiators had "worked long days and nights", closing meetings as late as 4:00 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He hailed their dedication to push forward despite "a torrent of misinformation that was undermining your negotiations". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While missing Friday's deadline, countries have voiced a commitment to keep pushing for an accord. </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"">Negotiators are due on Tuesday to present the outcome of the talks to the assembly, which runs until June 1, and the assembly will take stock and decide what to do next. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I know that there remains among you a common will to get this done, so, there must always be a way," Tedros said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Meaning the solution is in your hands," he stressed. </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"">Parallel talks have also taken place on revising the International Health Regulations, which were first adopted in 1969 and constitute the existing international legally binding framework for responding to public health emergencies around the world. </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 proposed amendments to the IHR, including adding more nuance to a system meant to alert countries to potential health emergencies of global concern, might have a better chance of being adopted during this week's assembly, observers said. – AFP/RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20827', 'image' => '20240528111342_20240114110800_WHO.jpg.jpeg', 'article_date' => '2024-05-28 11:13:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21099', 'article_category_id' => '1', 'title' => 'Beni Adopts Digital House Number System ', 'sub_title' => '', 'summary' => 'BENI: Beni Municipality of Myagdi has started a digital house numbering system with QR code. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BENI: Beni Municipality of Myagdi has started a digital house numbering system with QR code. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The digital house number system has been implemented with information and details of all the residents of the municipality. The digital house number system has been implemented to facilitate service delivery, good governance and effective disaster management, said Mayor Surat KC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The QR code of the digital house number system shares 90 types of information such as the location of the house, the number of floors, color, number of rooms, the type of house structure etc. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The digital numbering campaign began on Friday evening with Mayor KC handing over the digital house number to Lilaram Gautam and Devi KC of New Road in Beni Municipality-8. In the first phase, digital house number plates will be placed in 1,900 houses of Ward No. 7 and 8 of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The information and details of 7,200 houses in all 10 wards of the municipality have been recorded in the electronic system. According to the municipality, preparations are being made to print digital number plates to be placed on the houses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Uttam Karmacharya, the Ward Chairman of Beni Municipality-8, said that the digital house number system has been developed to stop misuse of benefits and avoid duplication while house owners can update their details and seek immediate support for pregnant women, new mothers, sick people, and during the time of disaster. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20826', 'image' => '20240528111135_m1.jpg', 'article_date' => '2024-05-28 11:10:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21097', 'article_category_id' => '1', 'title' => 'Government Likely to Introduce Large Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is preparing to introduce a large-sized budget for the next fiscal year (FY 2081/82) despite resource crunch.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">BIJAY DAMASE</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is preparing to introduce a large-sized budget for the next fiscal year (FY 2081/82) despite resource crunch. </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 constitutional provision, the government must present the budget in the Federal Parliament on the 15<sup>th</sup> of Jestha (May 28 this year). Finance Minister Barshman Pun is set to announce a budget of around Rs 1.95 trillion on Tuesday afternoon. Although the Resource Committee, led by the Vice Chairman of the National Planning Commission, had previously set a budget ceiling of Rs 1.8 trillion, the government has decided to introduce a budget exceeding the ceiling.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister Pun's budget will include several popular and ambitious plans and programs, including those from the ruling coalition's minimum common program. In recent years, the government has been reducing the size of budget during the mid-term review due to lower-than-expected revenue and constrained expenditure. For the current fiscal year 2080/81, the government initially proposed a budget of Rs 1.75 trillion, but it was downsized by Rs 220 billion to Rs 1.53 trillion through the mid-term review. As of Sunday, the Finance Controller General Office reported that the government has not even spent Rs 1.2 trillion budget allocated for 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">With the country facing a slump in the economy, the government has failed to meet the revenue collection target. During the mid-term review of the budget, the revenue target was reduced from Rs 1.42 trillion to Rs 1.202 trillion, partly due to decreased imports and lower revenue from customs and domestic economic activities. The government estimates the economy will grow by 3.9 percent this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Former Chief Secretary Bimal Koirala argues that a large budget will only increase the financial burden when the economy is weak. "I used to believe in increasing the budget size, but now, given the state of the economy and low investor confidence, it's appropriate to maintain a more moderate budget," said Koirala. He noted that increasing the budget during economic slowdowns can stimulate the economy, but this is ineffective if the government cannot spend the allocated funds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Government officials have indicated that the budget will focus on cutting unnecessary expenses, although past expenditure reduction programs have yielded little visible results. The government has been criticized for seemingly continuing costly and unnecessary activities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government is likely to continue the populist program and restructure the Prime Minister's Employment Program, with employment fairs planned in all seven provinces next year. The Prime Minister's Daughter Program will also get prioritity. The budget will allocate significant funds for the Prime Minister's Daughter Program, which is managed by the Ministry of Women, Children, and Senior Citizens. Additionally, the government will emphasize national pride projects and transformative plans and announce strict implementation of project banks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sources indicate that due to the ongoing resource constraints, there will be no salary increase for employees, but the government is likely to increase the allowances to address their grievances. The budget will also align with the Parliamentary Constituency Development Program, although the Supreme Court had previously issued an interim order against implementing the program. Discussions are ongoing about increasing the old-age allowance eligibility from 68 to 70 years and increasing benefits for centenarians.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A high-ranking official at the Ministry of Finance revealed plans to expand the tax base, including taxing digital platform businesses and increasing taxes on luxury goods. The government is also considering higher taxes on alcohol and tobacco products. New measures, such as green taxes and IT industry concessions, will be introduced. The budget will offer income tax exemptions for startups and continue the subsidized loan program. Efforts are being made to facilitate new industry registration through a one-door system, establish Special Economic Zones (SEZs), and create industrial villages.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The budget will address issues in cooperatives and microfinance, potentially offering concessions to the borrowers. There were extensive discussions about including the provision of waiving the debts of cooperative and microfinance borrowers in the budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">History of Budget</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Historically, during Prime Minister Matrika Prasad Koirala's tenure, the then Finance Minister Suwarna Shumsher Rana introduced Nepal's first budget of Rs 52,290,000. Suwarna Shumsher established permanent government income sources like income tax and property tax, funded the introduction of Nepal's currency, set exchange rates, and established over 1,600 schools for an educational revolution.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In recent years, the government seems more interested in introducing larger budgets, often without proper implementation of the programs. For example, in FY 2068/69, Finance Minister Bharat Mohan Adhikari presented a budget of Rs 384 billion. By FY 2075/76, the budget had grown to Rs 1315 billion, and then to Rs 1793 billion in FY 2079/80. The budget for the current fiscal year is comparatively smaller, at Rs 1751 billion. Although the budget size has increased over time, the government has not been able to maintain the same pace in expenditure.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20824', 'image' => '20240528102709_20200630083550_Clipboard19.jpg', 'article_date' => '2024-05-28 10:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21096', 'article_category_id' => '1', 'title' => 'Govt Unveiling Annual Budget Today ', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is unveiling the budget for the upcoming fiscal year (FY 2024/25) today, May 28. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The government is unveiling the budget for the upcoming fiscal year (FY 2024/25) today, May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barshaman Pun is scheduled to present the budget in the joint sitting of the federal parliament at 1:00pm today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is presenting the details on estimated annual spending and revenue, according to the parliament secretariat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per Article 119 of Constitution of Nepal, 2072, the government is obliged to present the annual budget in the joint meeting of the federal parliament on the fifteenth day in the Nepali month of Jestha (May 28 this year). -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20823', 'image' => '20240528094806_budget.jpg', 'article_date' => '2024-05-28 09:47:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21095', 'article_category_id' => '1', 'title' => 'British Council's Cultural Protection Fund Announces New Projects', 'sub_title' => '', 'summary' => 'The British Council's Cultural Protection Fund has announced 22 new projects across 10 countries, with a total funding of over £2 million. These projects aim to protect cultural heritage at risk from the effects of conflict and climate change.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> May 28: The British Council's Cultural Protection Fund has announced 22 new projects across 10 countries, with a total funding of over £2 million. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">These projects aim to protect cultural heritage at risk from the effects of conflict and climate change.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In addition to ongoing efforts in the Middle East and North and East Africa, the fund will be working in Pakistan and Nepal for the first time as part of a South Asia pilot programme. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The allocated funding will support cultural heritage protection in Syria, Iraq, Kenya, Sudan, Ethiopia, the Occupied Palestinian Territories, Uganda, Tanzania, and now Pakistan and Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Cultural Protection Fund, led by the British Council in partnership with the UK Department of Culture, Media, and Sport, is the UK's main initiative for international cultural heritage protection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The fund collaborates with organizations and communities across 17 countries to protect both tangible heritage—such as buildings and archaeological sites—and intangible heritage, including music, traditional crafts, and languages.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new projects announced by Cultural Protection Fund for Nepal emphasize on preserving various aspects of cultural heritage. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The projects declared for Nepal include Preservation of Indigenous Food Heritage in Nepal – worth £ 50,000 and Safeguarding the Kusunda (The Ban Rajas) Language and Culture for Future Generations- worth £45,953.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Other projects are Towards Protecting the Cultural Heritage in the High Himalayas of the Shey Phoksundo National Park of Dolpo – worth £36,908 and Preservation and revival of Maithil women’s wall painting and sculpting arts- worth £ 50,000. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">National Indigenous Women’s Federation will deliver preservation of Indigenous Food Heritage in Nepal which focuses on diverse culinary practices in the highland regions of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Through courses for students at local secondary schools and the development of an online learning programme, Archive Nepal and partners hope to increase the speakership of this language and will promote the language further through the production of dual language Nepali and Kusunda books for children.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the same vein, Sampada Samrakshyan Samaj Nepal (ICOMOS Nepal) will work with local government and members of the community to document and improve capacity to care for built heritage that remains an important part of socio-cultural life for the Dolpo community. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, preservation and revival of Maithil women’s wall painting and sculpting arts project will focus on Maithil women’s paintings and mud art heritage. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20822', 'image' => '20240528082909_collage (13).jpg', 'article_date' => '2024-05-28 08:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '21094', 'article_category_id' => '1', 'title' => '15 Public Enterprises Including NAC at Loss', 'sub_title' => '', 'summary' => 'KATHMANDU: Fifteen public enterprises including the Nepal Airlines Corporation (NAC) have been operating at a loss for a couple of years or more.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Fifteen public enterprises including the Nepal Airlines Corporation (NAC) have been operating at a loss for a couple of years or more. This has been stated in the annual review report of the status of public enterprises presented in the parliament on Sunday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The review report shows that of 44 public enterprises that were in existence till the fiscal year 2022-23, 26 were at profit, 15 were at loss, and the business transactions of three organizations were nil. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the report, in the fiscal year 2022-23, the NAC incurred the highest loss among all public enterprises, and this trend was followed by Nepal Water Supply Corporation, Daily Development Corporation (DDC), Udaypur Cement Industry Ltd, and the Nepal Television. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During the last fiscal year, NAC's net loss amounted to over Rs 650 million while the accumulated loss of the corporation exceeded Rs 16 billion. The NAC has been continuously operating at a loss since the fiscal year 2019-20.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"Although the net loss of NAC last fiscal year reduced compared to the fiscal year 2021-22, the financial status of the organization is not satisfactory," the report states. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Challenges in the payment of loans and interests, high administrative expenditures, low business, delayed flights, and the lack of effective implementation of a corporate plan are cited as the reasons behind the NAC facing continued loss. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Nepal Water Supply Corporation and Nepal Television have been at a net loss since the fiscal year 2018-19 while the Udaypur Cement Industry continues to report a loss since the fiscal year 2019-20 and DCC since the fiscal year 2020-21. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the Water Supply Corporation incurred a net loss of over Rs 546 million, and the accumulated loss amounted to Rs 3.30 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The net loss reported by DDC is over Rs 484 million while the accumulated loss is Rs 1.85 billion. Udaypur cement incurred a loss of over Rs 362 million and the accumulated loss amounted to Rs 5.78 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Hetauda Cement incurred a loss of Rs 254 million and the accumulated loss amounted to Rs 1.15 billion while Nepal Aushadhi (Drugs) Limited suffered a loss of Rs 155 million and the company's accumulated loss amounted to Rs 2.13 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Butwal Spinning Mill had a net loss of Rs 34.03 million, with an accumulated loss of Rs 2.12 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although the Food Management and Trading Company Limited earned a net profit of Rs 129.02 million in the review period, its accumulated loss so far amounted to Rs 782.02 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although Nepal Oil Corporation Limited is one of the institutions reporting the highest net profits, it still incurs an accumulated loss of Rs 4.850 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, Nepal Ban Nigam Limited incurred a net loss of Rs 74.03 million but its accumulated profit stood at Rs 70 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The National Productivity and Economic Development Center Limited incurred a net loss of Rs 4.33 million while the accumulated loss was worth Rs 112.09 million. Nepal Railway Company Limited incurred a net loss of Rs 199.06 million, with an accumulated loss of Rs 559.06 million, while the Cultural Corporation incurred a net loss of Rs 14.08 million with an accumulated loss of Rs 284.02 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although Janak Education Materials Center Limited made a net profit of Rs 193.06 million during the last fiscal year, it still had an accumulated loss of Rs 1.19 billion. Nepal Television incurred a net loss of Rs 351.02 million with an accumulated loss of Rs 2.408 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">National Housing Company Limited was operating with a net loss of Rs 10.04 million in the last fiscal year and an accumulated loss of Rs 118.05 million. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20821', 'image' => '20240527063158_20221031011343का २५४ यात्रु अलपत्र.jpg', 'article_date' => '2024-05-27 18:31:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21092', 'article_category_id' => '1', 'title' => 'Profit of Public Enterprises up by 3046 Percent in FY 2022/23', 'sub_title' => '', 'summary' => 'KATHMANDU: There has been an improvement in the profits of public enterprises (PEs) in FY 2022/23.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: There has been an improvement in the profits of public enterprises (PEs) in FY 2022/23. Compared to FY 2021/22, the overall net profit of PEs increased by 3046.20 percent to Rs 48.51 billion in FY 2022/23. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The five PEs with the highest net profit are Nepal Oil Corporation, Nepal Electricity Authority, Nepal Telecommunication Company Limited, Citizen Investment Trust, and Deposit and Credit Protection Fund. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Among these, Nepal Oil Corporation (NOC) made the most significant contribution. The NOC, which incurred a loss of Rs 38.17 billion in FY 2021/22, saw its profit rise to Rs 11.72 billion in FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The total operating income increased by 14.87 percent, rising to Rs 661.01 billion in the fiscal year 2022/23 from Rs 575.43 billion in the fiscal year 2021/22.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Out of 44 existing public enterprises (PEs), 15 have incurred losses. According to the Annual Status Review of Public Enterprises submitted by Finance Minister Barshaman Pun to the Parliament on Sunday, 26 PEs have earned profits, while the transactions of three PEs are zero.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20820', 'image' => '20240527022740_20210429043853_profit-02.jpg', 'article_date' => '2024-05-27 14:27:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21093', 'article_category_id' => '1', 'title' => 'NEPSE Registers Minimal Gain of 3.93 Points to Close at 2113.27', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a minimal gain of 3.93 points, equivalent to 0.18%, closing at 2113.27 on the second trading day of the week, Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 27: The Nepal Stock Exchange (NEPSE) Index witnessed a minimal gain of 3.93 points, equivalent to 0.18%, closing at 2113.27 on the second trading day of the week, Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 317 scrips were traded on the NEPSE through 58,483 transactions. A total of 9,330,295 shares changed hands, resulting in a total turnover of Rs 3.89 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Fund Limited (NRN) led with the highest turnover of Rs 20 crores. Muktinath Krishi Company Limited (MKCL) and Nepal Warehousing Company Limited (NWCL) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) saw the maximum loss of 10%, closing at a market price of Rs 648 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector indices, all sectors closed in the green territory except for the Banking Index, Hotels and Tourism Index, and Non-Life Index.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20819', 'image' => '20240527035156_collage (12).jpg', 'article_date' => '2024-05-27 15:50:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21091', 'article_category_id' => '1', 'title' => 'NEA Adds 225,000 New Customers in Current Fiscal Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Electricity Authority (NEA) has added 225,000 new electricity customers in the first eight months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: Nepal Electricity Authority (NEA) has added 225,000 new electricity customers in the first eight months of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the Economic Survey 2023/24, the number of electricity customers reached 5.87 million by Faglun (mid-March 2024), up from 5.64 million in mid-July 2023.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-March 2024, a total of 2,975 MW of electricity has been connected to the national grid. The Economic Survey reports that this includes 660 MW from projects operated by the NEA, 492 MW from subsidiary projects of the NEA, and 1,822 MW from projects developed by the private sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20818', 'image' => '20240527022525_20240117111016_RBP7JUSC26EAGVV5NOFFGNQPX4.jpg', 'article_date' => '2024-05-27 14:24:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21089', 'article_category_id' => '1', 'title' => 'Govt Estimates Economic Growth of 3.9 Percent', 'sub_title' => 'Economic Survey for FY 2023/24 tabled in Parliament', 'summary' => 'KATHMANDU: The government has estimated nation's economy to expand by 3.9 per cent in the current fiscal year owing to the growth in the agriculture and service sectors despite the contraction in the productive sector including the industries and construction sectors.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">KATHMANDU: The government has estimated nation's economy to expand by 3.9 per cent in the current fiscal year owing to the growth in the agriculture and service sectors despite the contraction in the productive sector including the industries and construction sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Finance Minister made such a projection while tabling the Economic Survey of Fiscal Year 2023/24 in a meeting of the House of Representatives (HoR) on Sunday. He presented the Economic Survey after Speaker Devraj Ghimire granted him permission amidst the protest and sloganeering by the main opposition party, the Nepali Congress. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"The overall economic, social, sector-wise development and good governance of the federal, provincial and local levels during the entire period of the last fiscal year and up to eight months of the current FY has been reflected and analyzed," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Noting that the country's economic and social indicators have gradually improved, Finance Minister Pun said the economic growth rate of Gandaki, Bagmati and Lumbini is estimated to remain above the national average and the total investment is likely to increase by 2.8 per cent and reach Rs 1741.48 billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"It is estimated that the per capita income will reach USD 1,456 US. The average consumer price inflation is 6.08 per cent as of March 13 of the current fiscal year. There is gradual improvement in the revenue mobilization," he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Informing the House that the revenue collection of the federal government by mid-March of the current FY has increased by 9.7 per cent and reached Rs 639.5 billion, Finance Minister Pun said the federal expenditure increased by 2.9 per cent to reach Rs 801.58 billion during this period. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"The total public debt has reached Rs 2388. 26 billion as of mid-March. Of the total debt, domestic debt is 49.6 per cent and external debt 50.4 per cent. In the FY 2079/80 BS (2022/23), the provincial and local levels received Rs 517. 62 billion, including Rs 397.62 billion through the fiscal transfer from the federal level and Rs 120. 62 billion through revenue allocation," Minister Pun further added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Reiterating that the fiscal sector is gradually improving, he said there is adequate liquidity in the banking system and the interest rate of loans and deposits is decreasing. He informed the parliament that the loan disbursement towards the private sector as of mid-March of the current FY has increased by 5.6 per cent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The finance minister said the per bank branch population has reached 2,515 with the expansion of the network of banks and financial institutions as well as the transactions carried out through electronic means and the promotion of financial literacy. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20817', 'image' => '20240527014844_20240426010045_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-27 13:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21090', 'article_category_id' => '218', 'title' => 'Mahalaxmi Bikas Bank and NCHL sign MoU for Facilitating International Transactions', 'sub_title' => '', 'summary' => 'KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, Mahalaxmi Bikas Bank claimed that it is the first development bank to enter into an agreement with NCHL for payments of international transactions. The bank has been able to provide this facility as there are Nostro accounts operating in India, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Indian citizens in Nepal will be able to directly transfer funds to their accounts in India through any UPI handle linked account opened in Mahalaxmi Bikas Bank under the limit set by Nepal Rastra Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepali citizens in India can transfer money directly to Mahalaxmi Bikas Bank's UPI handle linked account in Nepal by using the UPI enabled app, subject to the limits set by the regulatory body in India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This cross-border payment is expected to directly benefit students, pilgrims, tourists and customers going to India for medical treatment and vice versa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief Executive Officer of Mahalaxmi Bikas Bank Dipesh Lamsal and Chief Executive Officer Nileshman Singh Pradhan on behalf of NCHL signed the agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Embracing the slogan of "Strong Bank, Successful Cooperation", Mahalaxmi Bikas Bank said it has been continuously providing quality financial services at the doorsteps of Nepalese citizens for the past 29 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition, the 22nd annual general meeting of the bank held on January 13, 2024 also passed a resolution to bring foreign banks or financial institutions as strategic partners, the statement added.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20816', 'image' => '20240527022352_IMG-54ea918ad0afe60ae6e1194fabe09ebc-V.jpg', 'article_date' => '2024-05-27 14:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21088', 'article_category_id' => '1', 'title' => 'Irrigation Facilities Expanded by 1,640 Hectares in Current Fiscal Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Irrigation facilities have been added to 1,640 hectares of land in the current fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: Irrigation facilities have been added to 1,640 hectares of land in the current fiscal year. According to Economic Survey, irrigation facilities have reached 88.5 percent of the total irrigable land of 1,760,000 hectares and 59.0 percent of the total arable land of 2,640,000 hectares by mid-March, 2024</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The survey says irrigation facilities have covered 620 hectares through surface irrigation, 270 hectares through lift irrigation, 700 hectares through underground irrigation, and 50 hectares through reservoir irrigation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Overall, irrigation facilities have now reached 1,557,148 hectares of land. Of these areas with irrigation facilities, 65.7 percent are covered by surface irrigation and 34.1 percent by underground irrigation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20815', 'image' => '20240527012605_20240202022345_irrigat.jpg', 'article_date' => '2024-05-27 13:24:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21087', 'article_category_id' => '1', 'title' => 'As Villagers go for Picking Yarsa, Looters Ransack Houses in Mugu ', 'sub_title' => '', 'summary' => 'MUGU: A marauding gang of looters plundered Dolphu village of Mugum Karmarong rural municipality-1 in Mugu district, taking advantage of the absence of villagers on Saturday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">MUGU: A marauding gang of looters plundered Dolphu village of Mugum Karmarong rural municipality-1 in Mugu district, taking advantage of the absence of villagers on Saturday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villagers had left their homes for combing highland meadows in search of yarsagumba, a precious herb with purported aphrodisiac property. </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 armed looters ransacked houses and made away with cashes, jewelries and other goods, according to Chairman of Karmarong rural municipality, Chhiring Kyapne Lama. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There were only elderly and children in the village in which the armed gang robbed. Out of 50 houses, the gang plundered assets from 23 houses," he informed, adding that even a priest at a shrine was beaten by the gang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The gang did not spare even the dogs guarding the houses. </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"">Meanwhile, Chief District Officer Topendra KC informed that a police team was deputed from Pulu police post, a five-hour trek from the village, immediately after receiving the information. Mugum Karmarong-1 Chairman Tunduk Lama had informed police about the looting spree. “The assailants had come with guns, scimitars and khukuris. They looted jewelries, ancient pots, medicinal herbs, and clothes,” he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police, Birendra Thapa, informed that the incident site had no access to communications, so it was difficult to contact the police team mobilized there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ward no 1, 3 and 4 of Mugum Karmarong rural municipality fall in the Tse Phoksundo National Park. After the local level gave permission to collect yarsagumba for this season, the locals had left their villages since May 23 and headed towards the highlands. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20814', 'image' => '20240527121436_yarsa collection.JPG', 'article_date' => '2024-05-27 12:14:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21085', 'article_category_id' => '1', 'title' => 'Govt's Arrears Soar to Rs 669.86 Billion in FY 2022/23', 'sub_title' => '', 'summary' => 'KATHMANDU: The government’s arrears increased by 14.05 percent in last fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: The government’s arrears increased by 14.05 percent in last fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The 61st annual report of the Office of the Auditor General (OAG) highlights a concerning trend of increasing distortions in government spending. Released on Sunday, the report reveals a continued disregard for rules in utilizing government resources.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-July 2023, the government's arrears have soared to over Rs 669.86 billion. The 61st report of the Auditor General indicates a staggering increase of Rs 95.60 billion in arrears during the fiscal year 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Auditor General Toyam Raya presented the 61st report to President Ram Chandra Paudel on Sunday. The Office of Auditor General (OAG) audited a total of Rs 7,881.60 billion in FY 2022/23. The report delineates that arrears under federal government offices amounted to Rs 46.53 billion, with provincial offices accounting for Rs 6.57 billion, and local levels for Rs 31.02 billion. Additionally, other government agencies' arrears reached Rs 11.48 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The 61st report of the Auditor General also reveals that 3,277 government offices under the federal government were audited in FY 2022/23. Among federal ministries, the Finance Ministry exhibits the highest arrears, totaling Rs 25.47 billion, as per the OAG's findings. Following closely behind is the Ministry of Physical Infrastructure and Transport, with arrears amounting to Rs 12.09 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20813', 'image' => '20240527105142_mahalekhaparichhak___________news.2.jpg', 'article_date' => '2024-05-27 10:51:08', '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
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Speaker Devraj Ghimire had initially scheduled the budget speech for 1:00 pm today before a joint sitting of the Federal Parliament. However, it has been rescheduled for 3:00 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barshaman Pun will be presenting the budget for the upcoming fiscal year in the joint parliamentary session today. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20828', 'image' => '20240528013059_Parliament.jpg', 'article_date' => '2024-05-28 13:30:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21100', 'article_category_id' => '1', 'title' => 'WHO Chief Urges Countries to Quickly Seal Pandemic Deal ', 'sub_title' => '', 'summary' => 'GENEVA: The World Health Organization chief on Monday urged countries to nail down a landmark global agreement on handling of future pandemics after they missed a hard deadline. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">GENEVA: The World Health Organization chief on Monday urged countries to nail down a landmark global agreement on handling of future pandemics after they missed a hard deadline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Scarred by Covid-19 -- which killed millions, shredded economies and crippled health systems -- nations have spent two years trying to forge binding commitments on pandemic prevention, preparedness and response. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Negotiators failed to clinch a deal ahead of this week's World Health Assembly -- the annual gathering of WHO's 194 member states -- the deadline for concluding the talks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WHO chief Tedros Adhanom Ghebreyesus opened the assembly Monday, saying he was confident that an agreement would be secured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Of course, we all wish that we had been able to reach a consensus on the agreement in time for this health assembly and crossed the finish line," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"But I remain confident that you still will, because where there is a willquickly seql, there is a way." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tedros said the task before negotiators had been "immense, technically, legally, and politically", and that they had been "operating on a very ambitious time line". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"You have demonstrated a clear commitment to reaching an agreement," he said, adding that negotiators had "worked long days and nights", closing meetings as late as 4:00 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He hailed their dedication to push forward despite "a torrent of misinformation that was undermining your negotiations". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While missing Friday's deadline, countries have voiced a commitment to keep pushing for an accord. </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"">Negotiators are due on Tuesday to present the outcome of the talks to the assembly, which runs until June 1, and the assembly will take stock and decide what to do next. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I know that there remains among you a common will to get this done, so, there must always be a way," Tedros said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Meaning the solution is in your hands," he stressed. </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"">Parallel talks have also taken place on revising the International Health Regulations, which were first adopted in 1969 and constitute the existing international legally binding framework for responding to public health emergencies around the world. </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 proposed amendments to the IHR, including adding more nuance to a system meant to alert countries to potential health emergencies of global concern, might have a better chance of being adopted during this week's assembly, observers said. – AFP/RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20827', 'image' => '20240528111342_20240114110800_WHO.jpg.jpeg', 'article_date' => '2024-05-28 11:13:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21099', 'article_category_id' => '1', 'title' => 'Beni Adopts Digital House Number System ', 'sub_title' => '', 'summary' => 'BENI: Beni Municipality of Myagdi has started a digital house numbering system with QR code. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BENI: Beni Municipality of Myagdi has started a digital house numbering system with QR code. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The digital house number system has been implemented with information and details of all the residents of the municipality. The digital house number system has been implemented to facilitate service delivery, good governance and effective disaster management, said Mayor Surat KC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The QR code of the digital house number system shares 90 types of information such as the location of the house, the number of floors, color, number of rooms, the type of house structure etc. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The digital numbering campaign began on Friday evening with Mayor KC handing over the digital house number to Lilaram Gautam and Devi KC of New Road in Beni Municipality-8. In the first phase, digital house number plates will be placed in 1,900 houses of Ward No. 7 and 8 of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The information and details of 7,200 houses in all 10 wards of the municipality have been recorded in the electronic system. According to the municipality, preparations are being made to print digital number plates to be placed on the houses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Uttam Karmacharya, the Ward Chairman of Beni Municipality-8, said that the digital house number system has been developed to stop misuse of benefits and avoid duplication while house owners can update their details and seek immediate support for pregnant women, new mothers, sick people, and during the time of disaster. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20826', 'image' => '20240528111135_m1.jpg', 'article_date' => '2024-05-28 11:10:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21097', 'article_category_id' => '1', 'title' => 'Government Likely to Introduce Large Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is preparing to introduce a large-sized budget for the next fiscal year (FY 2081/82) despite resource crunch.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">BIJAY DAMASE</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is preparing to introduce a large-sized budget for the next fiscal year (FY 2081/82) despite resource crunch. </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 constitutional provision, the government must present the budget in the Federal Parliament on the 15<sup>th</sup> of Jestha (May 28 this year). Finance Minister Barshman Pun is set to announce a budget of around Rs 1.95 trillion on Tuesday afternoon. Although the Resource Committee, led by the Vice Chairman of the National Planning Commission, had previously set a budget ceiling of Rs 1.8 trillion, the government has decided to introduce a budget exceeding the ceiling.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister Pun's budget will include several popular and ambitious plans and programs, including those from the ruling coalition's minimum common program. In recent years, the government has been reducing the size of budget during the mid-term review due to lower-than-expected revenue and constrained expenditure. For the current fiscal year 2080/81, the government initially proposed a budget of Rs 1.75 trillion, but it was downsized by Rs 220 billion to Rs 1.53 trillion through the mid-term review. As of Sunday, the Finance Controller General Office reported that the government has not even spent Rs 1.2 trillion budget allocated for 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">With the country facing a slump in the economy, the government has failed to meet the revenue collection target. During the mid-term review of the budget, the revenue target was reduced from Rs 1.42 trillion to Rs 1.202 trillion, partly due to decreased imports and lower revenue from customs and domestic economic activities. The government estimates the economy will grow by 3.9 percent this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Former Chief Secretary Bimal Koirala argues that a large budget will only increase the financial burden when the economy is weak. "I used to believe in increasing the budget size, but now, given the state of the economy and low investor confidence, it's appropriate to maintain a more moderate budget," said Koirala. He noted that increasing the budget during economic slowdowns can stimulate the economy, but this is ineffective if the government cannot spend the allocated funds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Government officials have indicated that the budget will focus on cutting unnecessary expenses, although past expenditure reduction programs have yielded little visible results. The government has been criticized for seemingly continuing costly and unnecessary activities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government is likely to continue the populist program and restructure the Prime Minister's Employment Program, with employment fairs planned in all seven provinces next year. The Prime Minister's Daughter Program will also get prioritity. The budget will allocate significant funds for the Prime Minister's Daughter Program, which is managed by the Ministry of Women, Children, and Senior Citizens. Additionally, the government will emphasize national pride projects and transformative plans and announce strict implementation of project banks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sources indicate that due to the ongoing resource constraints, there will be no salary increase for employees, but the government is likely to increase the allowances to address their grievances. The budget will also align with the Parliamentary Constituency Development Program, although the Supreme Court had previously issued an interim order against implementing the program. Discussions are ongoing about increasing the old-age allowance eligibility from 68 to 70 years and increasing benefits for centenarians.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A high-ranking official at the Ministry of Finance revealed plans to expand the tax base, including taxing digital platform businesses and increasing taxes on luxury goods. The government is also considering higher taxes on alcohol and tobacco products. New measures, such as green taxes and IT industry concessions, will be introduced. The budget will offer income tax exemptions for startups and continue the subsidized loan program. Efforts are being made to facilitate new industry registration through a one-door system, establish Special Economic Zones (SEZs), and create industrial villages.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The budget will address issues in cooperatives and microfinance, potentially offering concessions to the borrowers. There were extensive discussions about including the provision of waiving the debts of cooperative and microfinance borrowers in the budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">History of Budget</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Historically, during Prime Minister Matrika Prasad Koirala's tenure, the then Finance Minister Suwarna Shumsher Rana introduced Nepal's first budget of Rs 52,290,000. Suwarna Shumsher established permanent government income sources like income tax and property tax, funded the introduction of Nepal's currency, set exchange rates, and established over 1,600 schools for an educational revolution.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In recent years, the government seems more interested in introducing larger budgets, often without proper implementation of the programs. For example, in FY 2068/69, Finance Minister Bharat Mohan Adhikari presented a budget of Rs 384 billion. By FY 2075/76, the budget had grown to Rs 1315 billion, and then to Rs 1793 billion in FY 2079/80. The budget for the current fiscal year is comparatively smaller, at Rs 1751 billion. Although the budget size has increased over time, the government has not been able to maintain the same pace in expenditure.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20824', 'image' => '20240528102709_20200630083550_Clipboard19.jpg', 'article_date' => '2024-05-28 10:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21096', 'article_category_id' => '1', 'title' => 'Govt Unveiling Annual Budget Today ', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is unveiling the budget for the upcoming fiscal year (FY 2024/25) today, May 28. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The government is unveiling the budget for the upcoming fiscal year (FY 2024/25) today, May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barshaman Pun is scheduled to present the budget in the joint sitting of the federal parliament at 1:00pm today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is presenting the details on estimated annual spending and revenue, according to the parliament secretariat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per Article 119 of Constitution of Nepal, 2072, the government is obliged to present the annual budget in the joint meeting of the federal parliament on the fifteenth day in the Nepali month of Jestha (May 28 this year). -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20823', 'image' => '20240528094806_budget.jpg', 'article_date' => '2024-05-28 09:47:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21095', 'article_category_id' => '1', 'title' => 'British Council's Cultural Protection Fund Announces New Projects', 'sub_title' => '', 'summary' => 'The British Council's Cultural Protection Fund has announced 22 new projects across 10 countries, with a total funding of over £2 million. These projects aim to protect cultural heritage at risk from the effects of conflict and climate change.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> May 28: The British Council's Cultural Protection Fund has announced 22 new projects across 10 countries, with a total funding of over £2 million. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">These projects aim to protect cultural heritage at risk from the effects of conflict and climate change.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In addition to ongoing efforts in the Middle East and North and East Africa, the fund will be working in Pakistan and Nepal for the first time as part of a South Asia pilot programme. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The allocated funding will support cultural heritage protection in Syria, Iraq, Kenya, Sudan, Ethiopia, the Occupied Palestinian Territories, Uganda, Tanzania, and now Pakistan and Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Cultural Protection Fund, led by the British Council in partnership with the UK Department of Culture, Media, and Sport, is the UK's main initiative for international cultural heritage protection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The fund collaborates with organizations and communities across 17 countries to protect both tangible heritage—such as buildings and archaeological sites—and intangible heritage, including music, traditional crafts, and languages.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new projects announced by Cultural Protection Fund for Nepal emphasize on preserving various aspects of cultural heritage. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The projects declared for Nepal include Preservation of Indigenous Food Heritage in Nepal – worth £ 50,000 and Safeguarding the Kusunda (The Ban Rajas) Language and Culture for Future Generations- worth £45,953.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Other projects are Towards Protecting the Cultural Heritage in the High Himalayas of the Shey Phoksundo National Park of Dolpo – worth £36,908 and Preservation and revival of Maithil women’s wall painting and sculpting arts- worth £ 50,000. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">National Indigenous Women’s Federation will deliver preservation of Indigenous Food Heritage in Nepal which focuses on diverse culinary practices in the highland regions of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Through courses for students at local secondary schools and the development of an online learning programme, Archive Nepal and partners hope to increase the speakership of this language and will promote the language further through the production of dual language Nepali and Kusunda books for children.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the same vein, Sampada Samrakshyan Samaj Nepal (ICOMOS Nepal) will work with local government and members of the community to document and improve capacity to care for built heritage that remains an important part of socio-cultural life for the Dolpo community. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, preservation and revival of Maithil women’s wall painting and sculpting arts project will focus on Maithil women’s paintings and mud art heritage. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20822', 'image' => '20240528082909_collage (13).jpg', 'article_date' => '2024-05-28 08:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '21094', 'article_category_id' => '1', 'title' => '15 Public Enterprises Including NAC at Loss', 'sub_title' => '', 'summary' => 'KATHMANDU: Fifteen public enterprises including the Nepal Airlines Corporation (NAC) have been operating at a loss for a couple of years or more.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Fifteen public enterprises including the Nepal Airlines Corporation (NAC) have been operating at a loss for a couple of years or more. This has been stated in the annual review report of the status of public enterprises presented in the parliament on Sunday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The review report shows that of 44 public enterprises that were in existence till the fiscal year 2022-23, 26 were at profit, 15 were at loss, and the business transactions of three organizations were nil. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the report, in the fiscal year 2022-23, the NAC incurred the highest loss among all public enterprises, and this trend was followed by Nepal Water Supply Corporation, Daily Development Corporation (DDC), Udaypur Cement Industry Ltd, and the Nepal Television. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During the last fiscal year, NAC's net loss amounted to over Rs 650 million while the accumulated loss of the corporation exceeded Rs 16 billion. The NAC has been continuously operating at a loss since the fiscal year 2019-20.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"Although the net loss of NAC last fiscal year reduced compared to the fiscal year 2021-22, the financial status of the organization is not satisfactory," the report states. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Challenges in the payment of loans and interests, high administrative expenditures, low business, delayed flights, and the lack of effective implementation of a corporate plan are cited as the reasons behind the NAC facing continued loss. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Nepal Water Supply Corporation and Nepal Television have been at a net loss since the fiscal year 2018-19 while the Udaypur Cement Industry continues to report a loss since the fiscal year 2019-20 and DCC since the fiscal year 2020-21. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the Water Supply Corporation incurred a net loss of over Rs 546 million, and the accumulated loss amounted to Rs 3.30 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The net loss reported by DDC is over Rs 484 million while the accumulated loss is Rs 1.85 billion. Udaypur cement incurred a loss of over Rs 362 million and the accumulated loss amounted to Rs 5.78 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Hetauda Cement incurred a loss of Rs 254 million and the accumulated loss amounted to Rs 1.15 billion while Nepal Aushadhi (Drugs) Limited suffered a loss of Rs 155 million and the company's accumulated loss amounted to Rs 2.13 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Butwal Spinning Mill had a net loss of Rs 34.03 million, with an accumulated loss of Rs 2.12 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although the Food Management and Trading Company Limited earned a net profit of Rs 129.02 million in the review period, its accumulated loss so far amounted to Rs 782.02 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although Nepal Oil Corporation Limited is one of the institutions reporting the highest net profits, it still incurs an accumulated loss of Rs 4.850 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, Nepal Ban Nigam Limited incurred a net loss of Rs 74.03 million but its accumulated profit stood at Rs 70 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The National Productivity and Economic Development Center Limited incurred a net loss of Rs 4.33 million while the accumulated loss was worth Rs 112.09 million. Nepal Railway Company Limited incurred a net loss of Rs 199.06 million, with an accumulated loss of Rs 559.06 million, while the Cultural Corporation incurred a net loss of Rs 14.08 million with an accumulated loss of Rs 284.02 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although Janak Education Materials Center Limited made a net profit of Rs 193.06 million during the last fiscal year, it still had an accumulated loss of Rs 1.19 billion. Nepal Television incurred a net loss of Rs 351.02 million with an accumulated loss of Rs 2.408 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">National Housing Company Limited was operating with a net loss of Rs 10.04 million in the last fiscal year and an accumulated loss of Rs 118.05 million. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20821', 'image' => '20240527063158_20221031011343का २५४ यात्रु अलपत्र.jpg', 'article_date' => '2024-05-27 18:31:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21092', 'article_category_id' => '1', 'title' => 'Profit of Public Enterprises up by 3046 Percent in FY 2022/23', 'sub_title' => '', 'summary' => 'KATHMANDU: There has been an improvement in the profits of public enterprises (PEs) in FY 2022/23.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: There has been an improvement in the profits of public enterprises (PEs) in FY 2022/23. Compared to FY 2021/22, the overall net profit of PEs increased by 3046.20 percent to Rs 48.51 billion in FY 2022/23. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The five PEs with the highest net profit are Nepal Oil Corporation, Nepal Electricity Authority, Nepal Telecommunication Company Limited, Citizen Investment Trust, and Deposit and Credit Protection Fund. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Among these, Nepal Oil Corporation (NOC) made the most significant contribution. The NOC, which incurred a loss of Rs 38.17 billion in FY 2021/22, saw its profit rise to Rs 11.72 billion in FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The total operating income increased by 14.87 percent, rising to Rs 661.01 billion in the fiscal year 2022/23 from Rs 575.43 billion in the fiscal year 2021/22.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Out of 44 existing public enterprises (PEs), 15 have incurred losses. According to the Annual Status Review of Public Enterprises submitted by Finance Minister Barshaman Pun to the Parliament on Sunday, 26 PEs have earned profits, while the transactions of three PEs are zero.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20820', 'image' => '20240527022740_20210429043853_profit-02.jpg', 'article_date' => '2024-05-27 14:27:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21093', 'article_category_id' => '1', 'title' => 'NEPSE Registers Minimal Gain of 3.93 Points to Close at 2113.27', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a minimal gain of 3.93 points, equivalent to 0.18%, closing at 2113.27 on the second trading day of the week, Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 27: The Nepal Stock Exchange (NEPSE) Index witnessed a minimal gain of 3.93 points, equivalent to 0.18%, closing at 2113.27 on the second trading day of the week, Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 317 scrips were traded on the NEPSE through 58,483 transactions. A total of 9,330,295 shares changed hands, resulting in a total turnover of Rs 3.89 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Fund Limited (NRN) led with the highest turnover of Rs 20 crores. Muktinath Krishi Company Limited (MKCL) and Nepal Warehousing Company Limited (NWCL) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) saw the maximum loss of 10%, closing at a market price of Rs 648 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector indices, all sectors closed in the green territory except for the Banking Index, Hotels and Tourism Index, and Non-Life Index.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20819', 'image' => '20240527035156_collage (12).jpg', 'article_date' => '2024-05-27 15:50:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21091', 'article_category_id' => '1', 'title' => 'NEA Adds 225,000 New Customers in Current Fiscal Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Electricity Authority (NEA) has added 225,000 new electricity customers in the first eight months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: Nepal Electricity Authority (NEA) has added 225,000 new electricity customers in the first eight months of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the Economic Survey 2023/24, the number of electricity customers reached 5.87 million by Faglun (mid-March 2024), up from 5.64 million in mid-July 2023.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-March 2024, a total of 2,975 MW of electricity has been connected to the national grid. The Economic Survey reports that this includes 660 MW from projects operated by the NEA, 492 MW from subsidiary projects of the NEA, and 1,822 MW from projects developed by the private sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20818', 'image' => '20240527022525_20240117111016_RBP7JUSC26EAGVV5NOFFGNQPX4.jpg', 'article_date' => '2024-05-27 14:24:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21089', 'article_category_id' => '1', 'title' => 'Govt Estimates Economic Growth of 3.9 Percent', 'sub_title' => 'Economic Survey for FY 2023/24 tabled in Parliament', 'summary' => 'KATHMANDU: The government has estimated nation's economy to expand by 3.9 per cent in the current fiscal year owing to the growth in the agriculture and service sectors despite the contraction in the productive sector including the industries and construction sectors.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">KATHMANDU: The government has estimated nation's economy to expand by 3.9 per cent in the current fiscal year owing to the growth in the agriculture and service sectors despite the contraction in the productive sector including the industries and construction sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Finance Minister made such a projection while tabling the Economic Survey of Fiscal Year 2023/24 in a meeting of the House of Representatives (HoR) on Sunday. He presented the Economic Survey after Speaker Devraj Ghimire granted him permission amidst the protest and sloganeering by the main opposition party, the Nepali Congress. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"The overall economic, social, sector-wise development and good governance of the federal, provincial and local levels during the entire period of the last fiscal year and up to eight months of the current FY has been reflected and analyzed," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Noting that the country's economic and social indicators have gradually improved, Finance Minister Pun said the economic growth rate of Gandaki, Bagmati and Lumbini is estimated to remain above the national average and the total investment is likely to increase by 2.8 per cent and reach Rs 1741.48 billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"It is estimated that the per capita income will reach USD 1,456 US. The average consumer price inflation is 6.08 per cent as of March 13 of the current fiscal year. There is gradual improvement in the revenue mobilization," he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Informing the House that the revenue collection of the federal government by mid-March of the current FY has increased by 9.7 per cent and reached Rs 639.5 billion, Finance Minister Pun said the federal expenditure increased by 2.9 per cent to reach Rs 801.58 billion during this period. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"The total public debt has reached Rs 2388. 26 billion as of mid-March. Of the total debt, domestic debt is 49.6 per cent and external debt 50.4 per cent. In the FY 2079/80 BS (2022/23), the provincial and local levels received Rs 517. 62 billion, including Rs 397.62 billion through the fiscal transfer from the federal level and Rs 120. 62 billion through revenue allocation," Minister Pun further added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Reiterating that the fiscal sector is gradually improving, he said there is adequate liquidity in the banking system and the interest rate of loans and deposits is decreasing. He informed the parliament that the loan disbursement towards the private sector as of mid-March of the current FY has increased by 5.6 per cent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The finance minister said the per bank branch population has reached 2,515 with the expansion of the network of banks and financial institutions as well as the transactions carried out through electronic means and the promotion of financial literacy. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20817', 'image' => '20240527014844_20240426010045_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-27 13:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21090', 'article_category_id' => '218', 'title' => 'Mahalaxmi Bikas Bank and NCHL sign MoU for Facilitating International Transactions', 'sub_title' => '', 'summary' => 'KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, Mahalaxmi Bikas Bank claimed that it is the first development bank to enter into an agreement with NCHL for payments of international transactions. The bank has been able to provide this facility as there are Nostro accounts operating in India, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Indian citizens in Nepal will be able to directly transfer funds to their accounts in India through any UPI handle linked account opened in Mahalaxmi Bikas Bank under the limit set by Nepal Rastra Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepali citizens in India can transfer money directly to Mahalaxmi Bikas Bank's UPI handle linked account in Nepal by using the UPI enabled app, subject to the limits set by the regulatory body in India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This cross-border payment is expected to directly benefit students, pilgrims, tourists and customers going to India for medical treatment and vice versa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief Executive Officer of Mahalaxmi Bikas Bank Dipesh Lamsal and Chief Executive Officer Nileshman Singh Pradhan on behalf of NCHL signed the agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Embracing the slogan of "Strong Bank, Successful Cooperation", Mahalaxmi Bikas Bank said it has been continuously providing quality financial services at the doorsteps of Nepalese citizens for the past 29 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition, the 22nd annual general meeting of the bank held on January 13, 2024 also passed a resolution to bring foreign banks or financial institutions as strategic partners, the statement added.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20816', 'image' => '20240527022352_IMG-54ea918ad0afe60ae6e1194fabe09ebc-V.jpg', 'article_date' => '2024-05-27 14:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21088', 'article_category_id' => '1', 'title' => 'Irrigation Facilities Expanded by 1,640 Hectares in Current Fiscal Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Irrigation facilities have been added to 1,640 hectares of land in the current fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: Irrigation facilities have been added to 1,640 hectares of land in the current fiscal year. According to Economic Survey, irrigation facilities have reached 88.5 percent of the total irrigable land of 1,760,000 hectares and 59.0 percent of the total arable land of 2,640,000 hectares by mid-March, 2024</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The survey says irrigation facilities have covered 620 hectares through surface irrigation, 270 hectares through lift irrigation, 700 hectares through underground irrigation, and 50 hectares through reservoir irrigation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Overall, irrigation facilities have now reached 1,557,148 hectares of land. Of these areas with irrigation facilities, 65.7 percent are covered by surface irrigation and 34.1 percent by underground irrigation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20815', 'image' => '20240527012605_20240202022345_irrigat.jpg', 'article_date' => '2024-05-27 13:24:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21087', 'article_category_id' => '1', 'title' => 'As Villagers go for Picking Yarsa, Looters Ransack Houses in Mugu ', 'sub_title' => '', 'summary' => 'MUGU: A marauding gang of looters plundered Dolphu village of Mugum Karmarong rural municipality-1 in Mugu district, taking advantage of the absence of villagers on Saturday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">MUGU: A marauding gang of looters plundered Dolphu village of Mugum Karmarong rural municipality-1 in Mugu district, taking advantage of the absence of villagers on Saturday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villagers had left their homes for combing highland meadows in search of yarsagumba, a precious herb with purported aphrodisiac property. </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 armed looters ransacked houses and made away with cashes, jewelries and other goods, according to Chairman of Karmarong rural municipality, Chhiring Kyapne Lama. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There were only elderly and children in the village in which the armed gang robbed. Out of 50 houses, the gang plundered assets from 23 houses," he informed, adding that even a priest at a shrine was beaten by the gang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The gang did not spare even the dogs guarding the houses. </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"">Meanwhile, Chief District Officer Topendra KC informed that a police team was deputed from Pulu police post, a five-hour trek from the village, immediately after receiving the information. Mugum Karmarong-1 Chairman Tunduk Lama had informed police about the looting spree. “The assailants had come with guns, scimitars and khukuris. They looted jewelries, ancient pots, medicinal herbs, and clothes,” he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police, Birendra Thapa, informed that the incident site had no access to communications, so it was difficult to contact the police team mobilized there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ward no 1, 3 and 4 of Mugum Karmarong rural municipality fall in the Tse Phoksundo National Park. After the local level gave permission to collect yarsagumba for this season, the locals had left their villages since May 23 and headed towards the highlands. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20814', 'image' => '20240527121436_yarsa collection.JPG', 'article_date' => '2024-05-27 12:14:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21085', 'article_category_id' => '1', 'title' => 'Govt's Arrears Soar to Rs 669.86 Billion in FY 2022/23', 'sub_title' => '', 'summary' => 'KATHMANDU: The government’s arrears increased by 14.05 percent in last fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: The government’s arrears increased by 14.05 percent in last fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The 61st annual report of the Office of the Auditor General (OAG) highlights a concerning trend of increasing distortions in government spending. Released on Sunday, the report reveals a continued disregard for rules in utilizing government resources.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-July 2023, the government's arrears have soared to over Rs 669.86 billion. The 61st report of the Auditor General indicates a staggering increase of Rs 95.60 billion in arrears during the fiscal year 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Auditor General Toyam Raya presented the 61st report to President Ram Chandra Paudel on Sunday. The Office of Auditor General (OAG) audited a total of Rs 7,881.60 billion in FY 2022/23. The report delineates that arrears under federal government offices amounted to Rs 46.53 billion, with provincial offices accounting for Rs 6.57 billion, and local levels for Rs 31.02 billion. Additionally, other government agencies' arrears reached Rs 11.48 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The 61st report of the Auditor General also reveals that 3,277 government offices under the federal government were audited in FY 2022/23. Among federal ministries, the Finance Ministry exhibits the highest arrears, totaling Rs 25.47 billion, as per the OAG's findings. Following closely behind is the Ministry of Physical Infrastructure and Transport, with arrears amounting to Rs 12.09 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20813', 'image' => '20240527105142_mahalekhaparichhak___________news.2.jpg', 'article_date' => '2024-05-27 10:51:08', '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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Speaker Devraj Ghimire had initially scheduled the budget speech for 1:00 pm today before a joint sitting of the Federal Parliament. However, it has been rescheduled for 3:00 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barshaman Pun will be presenting the budget for the upcoming fiscal year in the joint parliamentary session today. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20828', 'image' => '20240528013059_Parliament.jpg', 'article_date' => '2024-05-28 13:30:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21100', 'article_category_id' => '1', 'title' => 'WHO Chief Urges Countries to Quickly Seal Pandemic Deal ', 'sub_title' => '', 'summary' => 'GENEVA: The World Health Organization chief on Monday urged countries to nail down a landmark global agreement on handling of future pandemics after they missed a hard deadline. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">GENEVA: The World Health Organization chief on Monday urged countries to nail down a landmark global agreement on handling of future pandemics after they missed a hard deadline. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Scarred by Covid-19 -- which killed millions, shredded economies and crippled health systems -- nations have spent two years trying to forge binding commitments on pandemic prevention, preparedness and response. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Negotiators failed to clinch a deal ahead of this week's World Health Assembly -- the annual gathering of WHO's 194 member states -- the deadline for concluding the talks. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">WHO chief Tedros Adhanom Ghebreyesus opened the assembly Monday, saying he was confident that an agreement would be secured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Of course, we all wish that we had been able to reach a consensus on the agreement in time for this health assembly and crossed the finish line," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"But I remain confident that you still will, because where there is a willquickly seql, there is a way." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tedros said the task before negotiators had been "immense, technically, legally, and politically", and that they had been "operating on a very ambitious time line". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"You have demonstrated a clear commitment to reaching an agreement," he said, adding that negotiators had "worked long days and nights", closing meetings as late as 4:00 am. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He hailed their dedication to push forward despite "a torrent of misinformation that was undermining your negotiations". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While missing Friday's deadline, countries have voiced a commitment to keep pushing for an accord. </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"">Negotiators are due on Tuesday to present the outcome of the talks to the assembly, which runs until June 1, and the assembly will take stock and decide what to do next. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I know that there remains among you a common will to get this done, so, there must always be a way," Tedros said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Meaning the solution is in your hands," he stressed. </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"">Parallel talks have also taken place on revising the International Health Regulations, which were first adopted in 1969 and constitute the existing international legally binding framework for responding to public health emergencies around the world. </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 proposed amendments to the IHR, including adding more nuance to a system meant to alert countries to potential health emergencies of global concern, might have a better chance of being adopted during this week's assembly, observers said. – AFP/RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20827', 'image' => '20240528111342_20240114110800_WHO.jpg.jpeg', 'article_date' => '2024-05-28 11:13:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21099', 'article_category_id' => '1', 'title' => 'Beni Adopts Digital House Number System ', 'sub_title' => '', 'summary' => 'BENI: Beni Municipality of Myagdi has started a digital house numbering system with QR code. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">BENI: Beni Municipality of Myagdi has started a digital house numbering system with QR code. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The digital house number system has been implemented with information and details of all the residents of the municipality. The digital house number system has been implemented to facilitate service delivery, good governance and effective disaster management, said Mayor Surat KC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The QR code of the digital house number system shares 90 types of information such as the location of the house, the number of floors, color, number of rooms, the type of house structure etc. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The digital numbering campaign began on Friday evening with Mayor KC handing over the digital house number to Lilaram Gautam and Devi KC of New Road in Beni Municipality-8. In the first phase, digital house number plates will be placed in 1,900 houses of Ward No. 7 and 8 of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The information and details of 7,200 houses in all 10 wards of the municipality have been recorded in the electronic system. According to the municipality, preparations are being made to print digital number plates to be placed on the houses. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Uttam Karmacharya, the Ward Chairman of Beni Municipality-8, said that the digital house number system has been developed to stop misuse of benefits and avoid duplication while house owners can update their details and seek immediate support for pregnant women, new mothers, sick people, and during the time of disaster. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20826', 'image' => '20240528111135_m1.jpg', 'article_date' => '2024-05-28 11:10:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21097', 'article_category_id' => '1', 'title' => 'Government Likely to Introduce Large Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is preparing to introduce a large-sized budget for the next fiscal year (FY 2081/82) despite resource crunch.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">BIJAY DAMASE</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is preparing to introduce a large-sized budget for the next fiscal year (FY 2081/82) despite resource crunch. </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 constitutional provision, the government must present the budget in the Federal Parliament on the 15<sup>th</sup> of Jestha (May 28 this year). Finance Minister Barshman Pun is set to announce a budget of around Rs 1.95 trillion on Tuesday afternoon. Although the Resource Committee, led by the Vice Chairman of the National Planning Commission, had previously set a budget ceiling of Rs 1.8 trillion, the government has decided to introduce a budget exceeding the ceiling.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister Pun's budget will include several popular and ambitious plans and programs, including those from the ruling coalition's minimum common program. In recent years, the government has been reducing the size of budget during the mid-term review due to lower-than-expected revenue and constrained expenditure. For the current fiscal year 2080/81, the government initially proposed a budget of Rs 1.75 trillion, but it was downsized by Rs 220 billion to Rs 1.53 trillion through the mid-term review. As of Sunday, the Finance Controller General Office reported that the government has not even spent Rs 1.2 trillion budget allocated for 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">With the country facing a slump in the economy, the government has failed to meet the revenue collection target. During the mid-term review of the budget, the revenue target was reduced from Rs 1.42 trillion to Rs 1.202 trillion, partly due to decreased imports and lower revenue from customs and domestic economic activities. The government estimates the economy will grow by 3.9 percent this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Former Chief Secretary Bimal Koirala argues that a large budget will only increase the financial burden when the economy is weak. "I used to believe in increasing the budget size, but now, given the state of the economy and low investor confidence, it's appropriate to maintain a more moderate budget," said Koirala. He noted that increasing the budget during economic slowdowns can stimulate the economy, but this is ineffective if the government cannot spend the allocated funds.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Government officials have indicated that the budget will focus on cutting unnecessary expenses, although past expenditure reduction programs have yielded little visible results. The government has been criticized for seemingly continuing costly and unnecessary activities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The government is likely to continue the populist program and restructure the Prime Minister's Employment Program, with employment fairs planned in all seven provinces next year. The Prime Minister's Daughter Program will also get prioritity. The budget will allocate significant funds for the Prime Minister's Daughter Program, which is managed by the Ministry of Women, Children, and Senior Citizens. Additionally, the government will emphasize national pride projects and transformative plans and announce strict implementation of project banks.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Sources indicate that due to the ongoing resource constraints, there will be no salary increase for employees, but the government is likely to increase the allowances to address their grievances. The budget will also align with the Parliamentary Constituency Development Program, although the Supreme Court had previously issued an interim order against implementing the program. Discussions are ongoing about increasing the old-age allowance eligibility from 68 to 70 years and increasing benefits for centenarians.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A high-ranking official at the Ministry of Finance revealed plans to expand the tax base, including taxing digital platform businesses and increasing taxes on luxury goods. The government is also considering higher taxes on alcohol and tobacco products. New measures, such as green taxes and IT industry concessions, will be introduced. The budget will offer income tax exemptions for startups and continue the subsidized loan program. Efforts are being made to facilitate new industry registration through a one-door system, establish Special Economic Zones (SEZs), and create industrial villages.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The budget will address issues in cooperatives and microfinance, potentially offering concessions to the borrowers. There were extensive discussions about including the provision of waiving the debts of cooperative and microfinance borrowers in the budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">History of Budget</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Historically, during Prime Minister Matrika Prasad Koirala's tenure, the then Finance Minister Suwarna Shumsher Rana introduced Nepal's first budget of Rs 52,290,000. Suwarna Shumsher established permanent government income sources like income tax and property tax, funded the introduction of Nepal's currency, set exchange rates, and established over 1,600 schools for an educational revolution.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In recent years, the government seems more interested in introducing larger budgets, often without proper implementation of the programs. For example, in FY 2068/69, Finance Minister Bharat Mohan Adhikari presented a budget of Rs 384 billion. By FY 2075/76, the budget had grown to Rs 1315 billion, and then to Rs 1793 billion in FY 2079/80. The budget for the current fiscal year is comparatively smaller, at Rs 1751 billion. Although the budget size has increased over time, the government has not been able to maintain the same pace in expenditure.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20824', 'image' => '20240528102709_20200630083550_Clipboard19.jpg', 'article_date' => '2024-05-28 10:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21096', 'article_category_id' => '1', 'title' => 'Govt Unveiling Annual Budget Today ', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is unveiling the budget for the upcoming fiscal year (FY 2024/25) today, May 28. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The government is unveiling the budget for the upcoming fiscal year (FY 2024/25) today, May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Barshaman Pun is scheduled to present the budget in the joint sitting of the federal parliament at 1:00pm today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He is presenting the details on estimated annual spending and revenue, according to the parliament secretariat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per Article 119 of Constitution of Nepal, 2072, the government is obliged to present the annual budget in the joint meeting of the federal parliament on the fifteenth day in the Nepali month of Jestha (May 28 this year). -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20823', 'image' => '20240528094806_budget.jpg', 'article_date' => '2024-05-28 09:47:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21095', 'article_category_id' => '1', 'title' => 'British Council's Cultural Protection Fund Announces New Projects', 'sub_title' => '', 'summary' => 'The British Council's Cultural Protection Fund has announced 22 new projects across 10 countries, with a total funding of over £2 million. These projects aim to protect cultural heritage at risk from the effects of conflict and climate change.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> May 28: The British Council's Cultural Protection Fund has announced 22 new projects across 10 countries, with a total funding of over £2 million. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">These projects aim to protect cultural heritage at risk from the effects of conflict and climate change.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In addition to ongoing efforts in the Middle East and North and East Africa, the fund will be working in Pakistan and Nepal for the first time as part of a South Asia pilot programme. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The allocated funding will support cultural heritage protection in Syria, Iraq, Kenya, Sudan, Ethiopia, the Occupied Palestinian Territories, Uganda, Tanzania, and now Pakistan and Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Cultural Protection Fund, led by the British Council in partnership with the UK Department of Culture, Media, and Sport, is the UK's main initiative for international cultural heritage protection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The fund collaborates with organizations and communities across 17 countries to protect both tangible heritage—such as buildings and archaeological sites—and intangible heritage, including music, traditional crafts, and languages.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new projects announced by Cultural Protection Fund for Nepal emphasize on preserving various aspects of cultural heritage. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The projects declared for Nepal include Preservation of Indigenous Food Heritage in Nepal – worth £ 50,000 and Safeguarding the Kusunda (The Ban Rajas) Language and Culture for Future Generations- worth £45,953.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Other projects are Towards Protecting the Cultural Heritage in the High Himalayas of the Shey Phoksundo National Park of Dolpo – worth £36,908 and Preservation and revival of Maithil women’s wall painting and sculpting arts- worth £ 50,000. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">National Indigenous Women’s Federation will deliver preservation of Indigenous Food Heritage in Nepal which focuses on diverse culinary practices in the highland regions of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Through courses for students at local secondary schools and the development of an online learning programme, Archive Nepal and partners hope to increase the speakership of this language and will promote the language further through the production of dual language Nepali and Kusunda books for children.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the same vein, Sampada Samrakshyan Samaj Nepal (ICOMOS Nepal) will work with local government and members of the community to document and improve capacity to care for built heritage that remains an important part of socio-cultural life for the Dolpo community. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, preservation and revival of Maithil women’s wall painting and sculpting arts project will focus on Maithil women’s paintings and mud art heritage. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-28', 'modified' => '2024-05-28', 'keywords' => '', 'description' => '', 'sortorder' => '20822', 'image' => '20240528082909_collage (13).jpg', 'article_date' => '2024-05-28 08:26:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '21094', 'article_category_id' => '1', 'title' => '15 Public Enterprises Including NAC at Loss', 'sub_title' => '', 'summary' => 'KATHMANDU: Fifteen public enterprises including the Nepal Airlines Corporation (NAC) have been operating at a loss for a couple of years or more.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Fifteen public enterprises including the Nepal Airlines Corporation (NAC) have been operating at a loss for a couple of years or more. This has been stated in the annual review report of the status of public enterprises presented in the parliament on Sunday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The review report shows that of 44 public enterprises that were in existence till the fiscal year 2022-23, 26 were at profit, 15 were at loss, and the business transactions of three organizations were nil. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the report, in the fiscal year 2022-23, the NAC incurred the highest loss among all public enterprises, and this trend was followed by Nepal Water Supply Corporation, Daily Development Corporation (DDC), Udaypur Cement Industry Ltd, and the Nepal Television. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">During the last fiscal year, NAC's net loss amounted to over Rs 650 million while the accumulated loss of the corporation exceeded Rs 16 billion. The NAC has been continuously operating at a loss since the fiscal year 2019-20.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">"Although the net loss of NAC last fiscal year reduced compared to the fiscal year 2021-22, the financial status of the organization is not satisfactory," the report states. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Challenges in the payment of loans and interests, high administrative expenditures, low business, delayed flights, and the lack of effective implementation of a corporate plan are cited as the reasons behind the NAC facing continued loss. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Nepal Water Supply Corporation and Nepal Television have been at a net loss since the fiscal year 2018-19 while the Udaypur Cement Industry continues to report a loss since the fiscal year 2019-20 and DCC since the fiscal year 2020-21. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the Water Supply Corporation incurred a net loss of over Rs 546 million, and the accumulated loss amounted to Rs 3.30 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The net loss reported by DDC is over Rs 484 million while the accumulated loss is Rs 1.85 billion. Udaypur cement incurred a loss of over Rs 362 million and the accumulated loss amounted to Rs 5.78 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Hetauda Cement incurred a loss of Rs 254 million and the accumulated loss amounted to Rs 1.15 billion while Nepal Aushadhi (Drugs) Limited suffered a loss of Rs 155 million and the company's accumulated loss amounted to Rs 2.13 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, Butwal Spinning Mill had a net loss of Rs 34.03 million, with an accumulated loss of Rs 2.12 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although the Food Management and Trading Company Limited earned a net profit of Rs 129.02 million in the review period, its accumulated loss so far amounted to Rs 782.02 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although Nepal Oil Corporation Limited is one of the institutions reporting the highest net profits, it still incurs an accumulated loss of Rs 4.850 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Meanwhile, Nepal Ban Nigam Limited incurred a net loss of Rs 74.03 million but its accumulated profit stood at Rs 70 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The National Productivity and Economic Development Center Limited incurred a net loss of Rs 4.33 million while the accumulated loss was worth Rs 112.09 million. Nepal Railway Company Limited incurred a net loss of Rs 199.06 million, with an accumulated loss of Rs 559.06 million, while the Cultural Corporation incurred a net loss of Rs 14.08 million with an accumulated loss of Rs 284.02 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Although Janak Education Materials Center Limited made a net profit of Rs 193.06 million during the last fiscal year, it still had an accumulated loss of Rs 1.19 billion. Nepal Television incurred a net loss of Rs 351.02 million with an accumulated loss of Rs 2.408 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">National Housing Company Limited was operating with a net loss of Rs 10.04 million in the last fiscal year and an accumulated loss of Rs 118.05 million. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20821', 'image' => '20240527063158_20221031011343का २५४ यात्रु अलपत्र.jpg', 'article_date' => '2024-05-27 18:31:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21092', 'article_category_id' => '1', 'title' => 'Profit of Public Enterprises up by 3046 Percent in FY 2022/23', 'sub_title' => '', 'summary' => 'KATHMANDU: There has been an improvement in the profits of public enterprises (PEs) in FY 2022/23.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: There has been an improvement in the profits of public enterprises (PEs) in FY 2022/23. Compared to FY 2021/22, the overall net profit of PEs increased by 3046.20 percent to Rs 48.51 billion in FY 2022/23. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The five PEs with the highest net profit are Nepal Oil Corporation, Nepal Electricity Authority, Nepal Telecommunication Company Limited, Citizen Investment Trust, and Deposit and Credit Protection Fund. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Among these, Nepal Oil Corporation (NOC) made the most significant contribution. The NOC, which incurred a loss of Rs 38.17 billion in FY 2021/22, saw its profit rise to Rs 11.72 billion in FY 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The total operating income increased by 14.87 percent, rising to Rs 661.01 billion in the fiscal year 2022/23 from Rs 575.43 billion in the fiscal year 2021/22.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Out of 44 existing public enterprises (PEs), 15 have incurred losses. According to the Annual Status Review of Public Enterprises submitted by Finance Minister Barshaman Pun to the Parliament on Sunday, 26 PEs have earned profits, while the transactions of three PEs are zero.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20820', 'image' => '20240527022740_20210429043853_profit-02.jpg', 'article_date' => '2024-05-27 14:27:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21093', 'article_category_id' => '1', 'title' => 'NEPSE Registers Minimal Gain of 3.93 Points to Close at 2113.27', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a minimal gain of 3.93 points, equivalent to 0.18%, closing at 2113.27 on the second trading day of the week, Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 27: The Nepal Stock Exchange (NEPSE) Index witnessed a minimal gain of 3.93 points, equivalent to 0.18%, closing at 2113.27 on the second trading day of the week, Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 317 scrips were traded on the NEPSE through 58,483 transactions. A total of 9,330,295 shares changed hands, resulting in a total turnover of Rs 3.89 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Fund Limited (NRN) led with the highest turnover of Rs 20 crores. Muktinath Krishi Company Limited (MKCL) and Nepal Warehousing Company Limited (NWCL) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) saw the maximum loss of 10%, closing at a market price of Rs 648 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector indices, all sectors closed in the green territory except for the Banking Index, Hotels and Tourism Index, and Non-Life Index.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20819', 'image' => '20240527035156_collage (12).jpg', 'article_date' => '2024-05-27 15:50:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '21091', 'article_category_id' => '1', 'title' => 'NEA Adds 225,000 New Customers in Current Fiscal Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Electricity Authority (NEA) has added 225,000 new electricity customers in the first eight months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: Nepal Electricity Authority (NEA) has added 225,000 new electricity customers in the first eight months of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">According to the Economic Survey 2023/24, the number of electricity customers reached 5.87 million by Faglun (mid-March 2024), up from 5.64 million in mid-July 2023.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-March 2024, a total of 2,975 MW of electricity has been connected to the national grid. The Economic Survey reports that this includes 660 MW from projects operated by the NEA, 492 MW from subsidiary projects of the NEA, and 1,822 MW from projects developed by the private sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20818', 'image' => '20240527022525_20240117111016_RBP7JUSC26EAGVV5NOFFGNQPX4.jpg', 'article_date' => '2024-05-27 14:24:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21089', 'article_category_id' => '1', 'title' => 'Govt Estimates Economic Growth of 3.9 Percent', 'sub_title' => 'Economic Survey for FY 2023/24 tabled in Parliament', 'summary' => 'KATHMANDU: The government has estimated nation's economy to expand by 3.9 per cent in the current fiscal year owing to the growth in the agriculture and service sectors despite the contraction in the productive sector including the industries and construction sectors.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">KATHMANDU: The government has estimated nation's economy to expand by 3.9 per cent in the current fiscal year owing to the growth in the agriculture and service sectors despite the contraction in the productive sector including the industries and construction sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Finance Minister made such a projection while tabling the Economic Survey of Fiscal Year 2023/24 in a meeting of the House of Representatives (HoR) on Sunday. He presented the Economic Survey after Speaker Devraj Ghimire granted him permission amidst the protest and sloganeering by the main opposition party, the Nepali Congress. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"The overall economic, social, sector-wise development and good governance of the federal, provincial and local levels during the entire period of the last fiscal year and up to eight months of the current FY has been reflected and analyzed," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Noting that the country's economic and social indicators have gradually improved, Finance Minister Pun said the economic growth rate of Gandaki, Bagmati and Lumbini is estimated to remain above the national average and the total investment is likely to increase by 2.8 per cent and reach Rs 1741.48 billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"It is estimated that the per capita income will reach USD 1,456 US. The average consumer price inflation is 6.08 per cent as of March 13 of the current fiscal year. There is gradual improvement in the revenue mobilization," he added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Informing the House that the revenue collection of the federal government by mid-March of the current FY has increased by 9.7 per cent and reached Rs 639.5 billion, Finance Minister Pun said the federal expenditure increased by 2.9 per cent to reach Rs 801.58 billion during this period. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">"The total public debt has reached Rs 2388. 26 billion as of mid-March. Of the total debt, domestic debt is 49.6 per cent and external debt 50.4 per cent. In the FY 2079/80 BS (2022/23), the provincial and local levels received Rs 517. 62 billion, including Rs 397.62 billion through the fiscal transfer from the federal level and Rs 120. 62 billion through revenue allocation," Minister Pun further added. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Reiterating that the fiscal sector is gradually improving, he said there is adequate liquidity in the banking system and the interest rate of loans and deposits is decreasing. He informed the parliament that the loan disbursement towards the private sector as of mid-March of the current FY has increased by 5.6 per cent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The finance minister said the per bank branch population has reached 2,515 with the expansion of the network of banks and financial institutions as well as the transactions carried out through electronic means and the promotion of financial literacy. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20817', 'image' => '20240527014844_20240426010045_20220817123841_economic-growth.jpg', 'article_date' => '2024-05-27 13:47:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21090', 'article_category_id' => '218', 'title' => 'Mahalaxmi Bikas Bank and NCHL sign MoU for Facilitating International Transactions', 'sub_title' => '', 'summary' => 'KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Mahalaxmi Bikas Bank and Nepal Clearing House Limited (NCHL) have signed a memorandum of understanding (MoU) for facilitating international transaction payments between Nepal and India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, Mahalaxmi Bikas Bank claimed that it is the first development bank to enter into an agreement with NCHL for payments of international transactions. The bank has been able to provide this facility as there are Nostro accounts operating in India, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Indian citizens in Nepal will be able to directly transfer funds to their accounts in India through any UPI handle linked account opened in Mahalaxmi Bikas Bank under the limit set by Nepal Rastra Bank.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Nepali citizens in India can transfer money directly to Mahalaxmi Bikas Bank's UPI handle linked account in Nepal by using the UPI enabled app, subject to the limits set by the regulatory body in India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This cross-border payment is expected to directly benefit students, pilgrims, tourists and customers going to India for medical treatment and vice versa. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chief Executive Officer of Mahalaxmi Bikas Bank Dipesh Lamsal and Chief Executive Officer Nileshman Singh Pradhan on behalf of NCHL signed the agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Embracing the slogan of "Strong Bank, Successful Cooperation", Mahalaxmi Bikas Bank said it has been continuously providing quality financial services at the doorsteps of Nepalese citizens for the past 29 years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition, the 22nd annual general meeting of the bank held on January 13, 2024 also passed a resolution to bring foreign banks or financial institutions as strategic partners, the statement added.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20816', 'image' => '20240527022352_IMG-54ea918ad0afe60ae6e1194fabe09ebc-V.jpg', 'article_date' => '2024-05-27 14:23:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21088', 'article_category_id' => '1', 'title' => 'Irrigation Facilities Expanded by 1,640 Hectares in Current Fiscal Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Irrigation facilities have been added to 1,640 hectares of land in the current fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: Irrigation facilities have been added to 1,640 hectares of land in the current fiscal year. According to Economic Survey, irrigation facilities have reached 88.5 percent of the total irrigable land of 1,760,000 hectares and 59.0 percent of the total arable land of 2,640,000 hectares by mid-March, 2024</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The survey says irrigation facilities have covered 620 hectares through surface irrigation, 270 hectares through lift irrigation, 700 hectares through underground irrigation, and 50 hectares through reservoir irrigation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Overall, irrigation facilities have now reached 1,557,148 hectares of land. Of these areas with irrigation facilities, 65.7 percent are covered by surface irrigation and 34.1 percent by underground irrigation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20815', 'image' => '20240527012605_20240202022345_irrigat.jpg', 'article_date' => '2024-05-27 13:24:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21087', 'article_category_id' => '1', 'title' => 'As Villagers go for Picking Yarsa, Looters Ransack Houses in Mugu ', 'sub_title' => '', 'summary' => 'MUGU: A marauding gang of looters plundered Dolphu village of Mugum Karmarong rural municipality-1 in Mugu district, taking advantage of the absence of villagers on Saturday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">MUGU: A marauding gang of looters plundered Dolphu village of Mugum Karmarong rural municipality-1 in Mugu district, taking advantage of the absence of villagers on Saturday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The villagers had left their homes for combing highland meadows in search of yarsagumba, a precious herb with purported aphrodisiac property. </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 armed looters ransacked houses and made away with cashes, jewelries and other goods, according to Chairman of Karmarong rural municipality, Chhiring Kyapne Lama. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"There were only elderly and children in the village in which the armed gang robbed. Out of 50 houses, the gang plundered assets from 23 houses," he informed, adding that even a priest at a shrine was beaten by the gang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The gang did not spare even the dogs guarding the houses. </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"">Meanwhile, Chief District Officer Topendra KC informed that a police team was deputed from Pulu police post, a five-hour trek from the village, immediately after receiving the information. Mugum Karmarong-1 Chairman Tunduk Lama had informed police about the looting spree. “The assailants had come with guns, scimitars and khukuris. They looted jewelries, ancient pots, medicinal herbs, and clothes,” he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deputy Superintendent of Police, Birendra Thapa, informed that the incident site had no access to communications, so it was difficult to contact the police team mobilized there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ward no 1, 3 and 4 of Mugum Karmarong rural municipality fall in the Tse Phoksundo National Park. After the local level gave permission to collect yarsagumba for this season, the locals had left their villages since May 23 and headed towards the highlands. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20814', 'image' => '20240527121436_yarsa collection.JPG', 'article_date' => '2024-05-27 12:14:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21085', 'article_category_id' => '1', 'title' => 'Govt's Arrears Soar to Rs 669.86 Billion in FY 2022/23', 'sub_title' => '', 'summary' => 'KATHMANDU: The government’s arrears increased by 14.05 percent in last fiscal year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU: The government’s arrears increased by 14.05 percent in last fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The 61st annual report of the Office of the Auditor General (OAG) highlights a concerning trend of increasing distortions in government spending. Released on Sunday, the report reveals a continued disregard for rules in utilizing government resources.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">As of mid-July 2023, the government's arrears have soared to over Rs 669.86 billion. The 61st report of the Auditor General indicates a staggering increase of Rs 95.60 billion in arrears during the fiscal year 2022/23.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Auditor General Toyam Raya presented the 61st report to President Ram Chandra Paudel on Sunday. The Office of Auditor General (OAG) audited a total of Rs 7,881.60 billion in FY 2022/23. The report delineates that arrears under federal government offices amounted to Rs 46.53 billion, with provincial offices accounting for Rs 6.57 billion, and local levels for Rs 31.02 billion. Additionally, other government agencies' arrears reached Rs 11.48 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The 61st report of the Auditor General also reveals that 3,277 government offices under the federal government were audited in FY 2022/23. Among federal ministries, the Finance Ministry exhibits the highest arrears, totaling Rs 25.47 billion, as per the OAG's findings. Following closely behind is the Ministry of Physical Infrastructure and Transport, with arrears amounting to Rs 12.09 billion.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-27', 'modified' => '2024-05-27', 'keywords' => '', 'description' => '', 'sortorder' => '20813', 'image' => '20240527105142_mahalekhaparichhak___________news.2.jpg', 'article_date' => '2024-05-27 10:51:08', '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
