December 14: Shekhar Golchha, the president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), held a formal meeting with the French Ambassador to Nepal Gilles Bourbao at the FNJ Secretariat on Monday (December…
December 14: Shekhar Golchha, the president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), held a formal meeting with the French Ambassador to Nepal Gilles Bourbao at the FNJ Secretariat on Monday (December…
December 14: The Insurance Board is constructing a new building with an investment of Rs 473.7…
December 14: The number of tourists visiting the Annapurna Circuit has increased in recent days.…
December 14: The International Labour Organization (ILO) has handed over goods to the Government of Nepal for improving the country’s labour…
December 14: The farmers of several districts in the Terai including Bara, Parsa, and Rautahat are facing shortage of Diammonium Phosphate (DAP) fertilizer during the peak season of sowing…
December 14: The Nepal Chemists and Druggists Association (NCDA) has denied its involvement in the price hike of…
December 13: An iron path has been constructed along the route of Jugal mountain range for the first time in…
December 13: The real estate business is going through turmoil due to lack of concrete regulations by the government.…
December 13: The Hotel Association Nepal (HAN) has demanded that the government implement the 10-day tourism holiday program announced in the budget as soon as possible.…
December 13: Beding, a famous tourist destination in Gaurishankar rural municipality – 9 of Dolakha, has been linked to the national transmission…
December 12: Banks have predicted that the liquidity crunch will further worsen in mid-December to mid-January.…
December 13: With adequate production of electricity in the country in recent days, debates have surfaced on how to utilize electricity as a catalyst for industrial development while ensuring its…
December 12: The Mountain Advocacy Summit-2022 is to be organized in Mustang on March 13 and 14, 2022 to make the world aware of the impact of climate change on the mountainous…
December 12: Nepal’s trade deficit with India from Birgunj customs alone has reached around Rs 125 billion in the first quarter of the current fiscal…
December 12: Sugarcane farmers are at the receiving end as the government has not been able to fix the price of sugarcane on time.…
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Stating that Nepal’s economy has faced many obstacles in the last two years because of Covid-19 pandemic, FNCCI President Golchha during the meeting emphasized on the need for foreign assistance to lift Nepal’s economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also requested for the ambassador’s assistance for French investment in Nepal, FNCCI said in a statement. Golchha clarified that France can reap substantial benefits from the investment made in Nepal due to its geographical location and a country full of youths.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also present during the meeting were Gokarna Raj Awasti, deputy director general of the federation, Charge de Mission of the French Embassy Dipesh Kumar Bidari, FNCCI deputy directors Arun Shrestha and Bidur Chandra Lamichhane.</span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14220', 'image' => '20211214064123_FNCCI.JPG', 'article_date' => '2021-12-14 18:40:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14474', 'article_category_id' => '1', 'title' => 'Insurance Board to Construct a New Building with Rs 470 Million', 'sub_title' => '', 'summary' => 'December 14: The Insurance Board is constructing a new building with an investment of Rs 473.7 million.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The Insurance Board is constructing a new building with an investment of Rs 473.7 million. Finance Minister Janardan Sharma on Monday laid the foundation stone of the building to be constructed at Kupandol in Lalitpur district. Finance Minister Sharma and Urban Development Minister Ram Kumari Jhankri jointly laid the foundation stone of the building.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Addressing the groundbreaking ceremony, Finance Minister Sharma said that farmers of remote areas as well as poor people should have access to insurance policy. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma pointed out that insurance companies should act credibly to convince the public to join insurance shcemes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma also instructed the Insurance Board and insurance companies to make concrete plans to achieve the government's goal of expanding the scope of insurance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, Finance Minister Sharma said that the Ministry of Finance was doing its homework to settle the claims of Covid-19 insurance and the issue would be resolved soon. He said that the ministry is seriously working to protect the investment and business in the stock market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the bills related to Nepal Stock Exchange and Securities Board have reached the final stage of discussion and are about to be endorsed soon, he said that it is essential to empower the regulatory body through laws and regulations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On the occasion, Minister Jhankri said that a well-equipped physical infrastructure and a good environment are needed to make the work of regulatory bodies like the Insurance Board effective.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the Governor of Nepal Rastra Bank, Maha Prasad Adhikari, said that the scope of insurance in the country is gradually increasing and pointed out the need for voluntary insurance rather than a mandatory one.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chairman of the Insurance Board, Surya Prasad Silwal, expressed commitment to move ahead in a timely manner to achieve the government's goal of bringing 33 percent of the total population under the insurance scheme in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Director-General of the Department of Urban Development and Building Construction Padma Kumar Mainali informed that the building of the Insurance Board would be constructed in compliance with all the provisions of the Nepal National Building Code. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The program was attended by Revenue Secretary of the Ministry of Finance Krishna Hari Pushkar, Chief District Officer of Lalitpur District, former Chairman of Insurance Board, Executive Director of Securities Board of Nepal, Chairman and Chief Executive Officers of Insurance Companies and Reinsurance Company.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The building will be constructed on 10 ropanis of land and will be earthquake-resistant and disable-friendly. The building will be seven-story tall and have an international level seminar hall with a capacity to hold 120 participants, a separate meeting room with a capacity of 40 people, underground parking for 80 vehicles. The construction of the building is targeted to be completed within 30 months of its commencement.</span></span></span></span></p> <p><br /> <br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14219', 'image' => '20211214011543_20210627122025_20200417105653_Beema-Samiti.jpg', 'article_date' => '2021-12-14 13:11:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14473', 'article_category_id' => '1', 'title' => 'Tourist Arrival up in Annapurna Circuit', 'sub_title' => '', 'summary' => 'December 14: The number of tourists visiting the Annapurna Circuit has increased in recent days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The number of tourists visiting the Annapurna Circuit has increased in recent days. About 150 to 200 tourists have started coming to the Annapurna circuit on a daily basis now. Hotel entrepreneurs are excited as the tourist activity has increased in this trail with the decline in the risk of coronavirus. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The number of tourists visiting this area used to be around 25 to 30 a few months ago, But it has now started increasing gradually. According to the Annapurna Conservation Area Project (ACAP) Tourist Checkpoint Dharapani, 40 to 50 foreign tourists and 150 to 200 domestic tourists visit the area. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chetra Bahadur Gurung, tourist assistant of the office, said, “Entrepreneurs who were frustrated when tourist arrival stopped due to the pandemic, are now busy in providing service and are making good income. Although it’s cold, the arrival of tourists is increasing.”</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/902644_589586064398454_1487329644_o.jpg" style="height:666px; width:500px" /></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Panch Bahadur Gurung, a tourism entrepreneur of Marsyangdi rural municipality – 4, said that they are earning some money now. “I am very happy to have a daily income of Rs 10,000 to 15,000 at this time after the tourists started coming on this foot trail while we were struggling to earn even Rs 1,000 to Rs 2,000.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Businesses around this circuit are thriving after tourist arrival started increasing. Most of the tourism entrepreneurs are dependent on the tourists visiting the Annapurna circuit. Tourists visit the Annapurna Circuit from Manang to Mustang and Pokhara via Thumra Pass, observing the beauty of the Himalayas, the breathtaking mountains, the high hills, the customs of the people of Manang, and the natural beauty.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Annapurna Circuit connects five districts including Lamjung, Manang, Kaski, Mustang and Myagdi. The entrance of this circuit is Lamjung, Besishahar. The hotels of Besisahar are also filled with tourists coming for trek.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><img alt="" src="/app/webroot/userfiles/images/913654_590328654324195_120661781_o.jpg" style="height:600px; width:800px" /></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14218', 'image' => '20211214010017_478554_589578417732552_135307252_o.jpg', 'article_date' => '2021-12-14 12:58:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14472', 'article_category_id' => '1', 'title' => 'ILO Supports Nepal for Improving Labour Administration ', 'sub_title' => '', 'summary' => 'December 14: The International Labour Organization (ILO) has handed over goods to the Government of Nepal for improving the country’s labour administration. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: The International Labour Organization (ILO) has handed over goods to the Government of Nepal for improving the country’s labour administration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">ILO Nepal Director Richard Howard handed the goods to Minister for Labour Krishna Kumar Shrestha amidst a programme at the Ministry of Labour, Employment and Social Security on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The support includes five motorbikes, 24 laptops and printers. On the occasion, the ILO Nepal Director said ILO has been providing technical cooperation for the security of Nepali workers going on foreign employment or those working inside the country, and for resolving their problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Shrestha thanked ILO for the support it has been providing for systematizing the foreign employment sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Country Programme for Decent Work in Nepal (2018-2022) is in operation with the technical assistance of ILO. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal had become a member of the ILO, a specialized agency of the United Nations Organization, in 1966. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The only tripartite UN agency, since 1919 the ILO brings together governments, employers and workers of 187 member states, to set labour standards, develop policies and devise programmes promoting decent work for all women and men. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14217', 'image' => '20211214105310_ILO.jpg', 'article_date' => '2021-12-14 10:52:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14471', 'article_category_id' => '1', 'title' => 'Farmers Face Shortage of Fertilizer Once Again for Planting Wheat', 'sub_title' => '', 'summary' => 'December 14: The farmers of several districts in the Terai including Bara, Parsa, and Rautahat are facing shortage of Diammonium Phosphate (DAP) fertilizer during the peak season of sowing wheat.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The farmers of several districts in the Terai including Bara, Parsa, and Rautahat are facing shortage of Diammonium Phosphate (DAP) fertilizer during the peak season of sowing wheat.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Shyam Thakur, a farmer from Parsa, Pokhariya complained that he could not get DAP for sowing wheat after harvesting paddy. The government had assured the farmers that there would be no shortage of fertilizers during the wheat sowing season after the farmers had faced shortage of fertilizers during the paddy plantation season. There was shortage during the paddy plantation season as well since the contractor in charge of supplying the fertilizer could not import fertilizer on time. Farmers have not received fertilizer yet even though it is the time of sowing wheat. The government had said that fertilizers would be available for wheat cultivation. But even the fertilizer purchased from Bangladesh has not arrived in the country yet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The regional offices of Agriculture Inputs Company Limited and Salt Trading Corporation located in Birgunj have stated that they have been unable to supply the fertilizers to the farmers. Gorakh Nath K., who is the head of the state-owned Agriculture Inputs Company Limited’s provincial office in Birgunj, said that the shortage has been caused as the supply is less than the demand. KC said that there is high demand for DAP fertilizer. The office has informed that there has been a crisis of fertilizers as the company in charge of supplying fertilizers did not deliver the shipments on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Agriculture Inputs Company Limited has so far sold 9,500 metric tons of DAP in the current fiscal year (FY 2078/79). According to the company, the government has entered a contract to import 25,000 metric tons of DAP through a global tender for this year. KC also informed that two loaded rail racks were on the way to Birgunj Dry Port. The company is confident that 5,000 metric tons of fertilizers loaded in the two racks will arrive at the dry port of Birgunj within this week and the supply will be eased.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14216', 'image' => '20211214104319_images.jpeg-8.jpg', 'article_date' => '2021-12-14 10:42:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14470', 'article_category_id' => '1', 'title' => 'NCDA Denies Involvement in Price Hike of Drugs', 'sub_title' => '', 'summary' => 'December 14: The Nepal Chemists and Druggists Association (NCDA) has denied its involvement in the price hike of drugs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">December 14: The Nepal Chemists and Druggists Association (NCDA) has denied its involvement in the price hike of drugs. Issuing a press statement on Monday, the NCDA said that its attention has been drawn towards the news about price hike of the drugs involving the association.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Stating that some information covered in those news reports were false, the association appealed to the media and media persons to disseminate factual news.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The Drugs Act-2035 BS states that the government of Nepal could consider hiking the price of drugs if needed. The price of 96 types of drugs has been determined accordingly," reads the statement. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The association also explained that it had been determining the prices of the drugs other than those determined by the government as per the prevailing practice. The association further said that it has been importing the drugs at the price no higher than the MRP determined by the manufacturer and the manufacturing countries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The news published about price hike of the drugs was far from reality," said the association thereby appealing to the media and media persons to do thorough research, analysis and studies while disseminating the news about sensitive issues such as drugs. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14215', 'image' => '20211214080539_20200306114347_aaaa.jpg', 'article_date' => '2021-12-14 08:04:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14469', 'article_category_id' => '1', 'title' => 'Jugal Mountain Trail Gets Iron Path, a First-of-its-Kind in Nepal', 'sub_title' => '', 'summary' => 'December 13: An iron path has been constructed along the route of Jugal mountain range for the first time in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: An iron path has been constructed along the route of Jugal mountain range for the first time in Nepal. Iron path is famous in Europe as a protected climbing route mostly found in Alps and certain other areas. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The iron path has been built with an investment of Rs 3 million from the budget allocated for the Great Himalaya Trail. Iron has been inserted into the rocks and hills from the base camp of Mount Jugal to make the path. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Tulsing Gurung, an international mountain guide, said that the iron path has been opened on the route of Jugal mountain range for adventurous tourists and mountain tourism. Gurung added that the iron path is famous in Europe for the rock climbing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Iron path has been constructed for the first time in Nepal. This will aid in the adventure tourism of Nepal,” said Gurung adding, “The path has been constructed in the route of Jugal Himal near Kathmandu. This will help directly with mountain climbing.” A 10-member team of Gurung constructed the iron path in 20 days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite Mount Himal being in close proximity with Kathmandu, the mountain has not been able to get proper publicity. The path to reach the base camp of the mountain used to be unsafe. Gurung now believes that the construction of an iron path would help people travel the difficult terrain with ease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Tourism Board, there are 11 peaks in the Jugal mountain range including the Gyalzen peak. Among them, there are 8 peaks with elevations from 6,256 m to 6,966 m above the sea level. The 6,151-meter-high Gyalzen Peak was successfully climbed for the first time on 9th April, 2019, under the leadership of Maya Gurung. The second ascent to the Gyalzen Peak was under the leadership of climber Sharmila Lama on 19th October, 2020 with a team of 7 climbers. Climber Maya Gurung said that it is possible to climb Gyalzen Peak in less time and at a low cost. Nepalese are required to pay Rs 4,000 and foreigners</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">$ 250 to get permission for climbing the mountain. Climbers who want to climb mountains below 8,000 mters can choose this peak for climbing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We want to seek for the possibilities of tourism and increase employment as well as income,” said climber Gurung adding, “Now there will be an increase in the number of tourists arriving here for climbing the Jugal Himal after the construction of the iron path.” She believes that if the Jugal mountain range can be promoted, there will be creation of employment opportunities for trade and hotel business, which would lead to the development of the region.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">There is a provision that states that the climbers need to climb mountains higher than 6000 m before climbing Mt. Everest, said Hom Narayan Shrestha, chairman of the rural municipality. He said that the climbers have been choosing Jugal Himal for that purpose. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“But climbers say that it is very difficult to climb this mountain,” he said, adding, “We believe that there would be an increase in the number of adventurous tourists after the construction of the iron path”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since Jugal Himal is the nearest mountain to the capital city in addition to being ascended by fewer people, it has been found that climbers are attracted towards this mountain, says tourism entrepreneur Milan Lama.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14214', 'image' => '20211213010237_68453777_2651477498229724_6102999853028081664_n.jpg', 'article_date' => '2021-12-13 13:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14467', 'article_category_id' => '1', 'title' => 'Real Estate Business in Disarray in Lack of Right Regulations', 'sub_title' => '', 'summary' => 'December 13: The real estate business is going through turmoil due to lack of concrete regulations by the government. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: The real estate business is going through turmoil due to lack of concrete regulations by the government. At the same time, the government is losing huge revenue due to its inability to regulate the real estate business digitally.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Studies and reports conducted by government bodies at different times showed that the government is losing a large amount of revenue due to its own incompetence. Recent reports from the Revenue Board, Auditor General have suggested to conduct such transactions in the company model and details of all transactions be kept digitally. However, the government has not taken any action in this regard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a recent report by the Nepal Revenue Advisory Committee, the real estate sector is one of the leading sectors contributing to Nepal's economy. It contributed eleven percent of the GDP in the fiscal year 2020/21. However, this sector has remained the most informal sector. The report states real estate prices in Nepal are extremely volatile, determined mainly by unauthorized local real estate brokers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The report states that the government has not been able to regulate the sector as expected. The country is losing a lot of revenue as the trend of hiding the actual transaction amounts is increasing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The study revealed that in developed countries the value of real estate business is determined scientifically by the government or the regulatory body and it is followed by all the stakeholders. Therefore, the study team had suggested identifying the sectoral problems in Nepal and to tax this sector through agencies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The 58th report of the Auditor General had asked the government to strictly regulate the real estate sector and stop the transactions through intermediaries. However, the Ministry of Land Management, Cooperatives and Poverty Alleviation has not taken any concrete steps in this regard. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the Ministry of Land Management had made internal preparations to make arrangements for buying and selling land for real estate business only through 'companies' due to the rise in tax evasion and fraud cases when buying and selling land through individual agents. Ministry officials acknowledge that no progress has been made in this regard so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Janak Raj Joshi, spokesperson of the Ministry, said that a ‘land market' has been set up to allow purchase and sale of land through authorized bodies only but no conclusion has been reached. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lately, the revenue generated from real estate business has declined . According to the Department of Land Management and Archive, the revenue from real estate transactions has decreased by three billion in the last three months of the current fiscal year. In July, the total revenue including service tax, registration fee and capital gains tax amounted to Rs 8.13 billion which has declined to Rs 5.49 billion by November.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14213', 'image' => '20211213123222_20170320111604_ep.jpg', 'article_date' => '2021-12-13 12:31:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14468', 'article_category_id' => '1', 'title' => 'HAN Demands Immediate Implementation of Tourism Leave', 'sub_title' => '', 'summary' => 'December 13: The Hotel Association Nepal (HAN) has demanded that the government implement the 10-day tourism holiday program announced in the budget as soon as possible. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: The Hotel Association Nepal (HAN) has demanded that the government implement the 10-day tourism holiday program announced in the budget as soon as possible. HAN called for the immediate implementation of the leave to help the tourism and hotel industry revive from the impact of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, the association has also demanded that the government pass the work procedure immediately. Shirjana Rana, president of HAN during a discussion with the Director-General of the Department of Tourism Taranath Adhikari, stressed the role of the department in the revival of the tourism and hotel industry. On the occasion, she said that the issues addressed by the budget and monetary policy of the current fiscal year have not been implemented yet and added that the department should facilitate it implementing them.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, HAN also demanded that the department should relax the Environmental Protection Act 2076, made mandatory for 25-bed hotels. HAN has demanded the department not to make the act binding as it does not seem relevant for hotels operating with a small investment to comply with the act. Similarly, the association has also asked the department to relax registration tax and renewal fee for the convenience of the tourism industry that has been badly affected by the pandemic.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">HAN believes that this will support sustainable tourism. HAN also suggested that the rules and regulations need to be amended from time to time for the betterment of the tourism and hotel industry. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14212', 'image' => '20211213124250_20191017121120_1571271950.jpg', 'article_date' => '2021-12-13 12:42:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14466', 'article_category_id' => '1', 'title' => 'Beding Village Connected to National Grid', 'sub_title' => '', 'summary' => 'December 13: Beding, a famous tourist destination in Gaurishankar rural municipality – 9 of Dolakha, has been linked to the national transmission line.', 'content' => '<p><em>Beding village of Dolakha district serves as a stop-over for visitors en route to Tso Rolpa Lake. Photo Courtesy: Ananda Shrestha/Facebook</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: Beding, a famous tourist destination in Gaurishankar rural municipality – 9 of Dolakha, has been linked to the national transmission line. The Nepal Electricity Authority (NEA) has supplied electricity to Beding through a 24 km long transmission line from the Upper Tamakoshi Hydropower Project site.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Meghnath Dhakal, chief of Dolakha Distribution Center of NEA, informed that the NEA has carried the national transmission line to Beding by transporting utility poles through difficult terrain. According to him, electricity meters will be distributed to the locals as soon as the transformers are connected.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the NEA Dolakha, 390 poles have been laid for the construction of an 1100 KV transmission line, for which Rs 30 million has been invested. The locals of Beding are now excited to get electricity after the village has been connected to the national transmission line.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A micro hydro project at Beding, located at an altitude of 3,721 meters above the sea level, has been damaged for over a decade. Hence, the locals have been depending on solar energy. There are 85 households in Beding.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Located in the foothills of Mount Gaurishankar, Beding is a settlement of the Sherpa community. Tso Rolpa can be reached in a day from here. Mostly, the travellers visiting Tso Rolpa and Rolwaling stay at Beding. So the houses of the village are mostly hotels. The Gaurishankar Conservation Area is also helping the people to operate homestay in Beding to increase their income.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As it is a tourist area, Nepal Telecom has already launched GSM mobile service in the area a few years ago. The locals of Beding hope that their life will be comfortable and trade and businesses will also flourish after their access to electricity.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14211', 'image' => '20211213122316_117752417_409960883315075_3138725282263661235_n.jpg', 'article_date' => '2021-12-13 12:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14465', 'article_category_id' => '1', 'title' => 'Banks Predict Liquidity Crisis to Worsen in January', 'sub_title' => '', 'summary' => 'December 12: Banks have predicted that the liquidity crunch will further worsen in mid-December to mid-January. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 12: Banks have predicted that the liquidity crunch will further worsen in mid-December to mid-January. During this period, industrialists, entrepreneurs, and the banks themselves pay large sums of money in taxes to the government, which is expected to worsen the liquidity crunch in January.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Paying taxes to the government is not the only reason liquidity crisis. Since the country is reeling through the liquidity crunch from the beginning of the current fiscal year and there is no immediate source of deposits, banks estimate that the transfer of billions of rupees from the banking system to the government account will put more pressure on liquidity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Anil Kumar Upadhyaya, president of the Nepal Bankers Association, said the problem of liquidity crunch might worsen in January as banks along with industrialists pay huge sums of taxes to the government. As a result, liquidity is expected to increase.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In light of the current situation, banks and financial institutions are making preparation to address the liquidity crunch. A meeting of the Nepal Bankers Association was held on December 10 but could not take a concrete decision. Upadhyay said that discussions were held to seek solutions to the crisis. He said that the meeting also decided to discuss the current situation with the CEOs of development banks and finance companies. "We will decide our next approach after holding discussions with them," he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions fix new interest rates for deposits and loans effective from the 1st of every month. As January is approaching, banks are now discussing their next move on new interest rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banks have been raising interest rates on deposits since September due to lack of liquidity. However, banks are in a dilemma whether to raise interest rates in January as deposit collection has not improved. Upadhyay argues that the Ministry of Finance and Nepal Rastra Bank should provide necessary support to BFIs in order to address the liquidity crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Raising interest did not increase deposit collection. Therefore, most of the banks are not in favor of raising interest rates," Upadhyaya said, adding that the interest rate should be finalized by the end of December without any delay. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A major source of banking liquidity is government spending. However, government expenditure remains poor in the current fiscal year. As a result, the banking sector is facing liquidity crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At the same time, inflow of remittance, another major source of liquidity, has declined. On top of that, the banks have extended a large amount of credit in this fiscal year. As a result, the banking sector has been reeling through the liquidity crisis since the beginning of the current fiscal year.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14210', 'image' => '20211213094847_Banks.jpg', 'article_date' => '2021-12-13 09:48:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14464', 'article_category_id' => '1', 'title' => 'It's Time for Energy Diplomacy, says Minister', 'sub_title' => 'Experts stress on utilizing electricity for industrial development', 'summary' => 'December 13: With adequate production of electricity in the country in recent days, debates have surfaced on how to utilize electricity as a catalyst for industrial development while ensuring its export.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">December 13: With adequate production of electricity in the country in recent days, debates have surfaced on how to utilize electricity as a catalyst for industrial development while ensuring its export. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Experts have stressed the need for finding international market for electricity produced in Nepal by clearing legal and technical hurdles. Similarly, they gave equal importance to increase internal consumption of energy. The viability is more on export of hydropower to Bangladesh and India, the state-owned national news agency RSS reported. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Export of electricity would reduce trade deficit, the speakers argued. They shared such views at a programme organized jointly by Economic Policy Incubator and Society of Economic Journalists Nepal in the capital on Sunday. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">On the occasion, Minister for Energy, Hydropower and Irrigation Pampha Bhushal said the time has come for Nepal to prefer energy diplomacy to political and economic diplomacy. She also shared that newly appointed Ambassador to India, Shankar Sharma, was also reminded to focus on energy diplomacy during his tenure. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to her, a draft of new laws is being prepared to remove legal and technical hurdles to this end. A bill on this regard would be passed in the winter session of parliament if there would not be any political obstruction, Minister Bhushal said. She urged the private sector to make preparation to export hydropower.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to RSS, Joint Secretary at Energy Ministry Madhu Prasad Bhetuwal said cautious management of electricity is the need of the hour. Based on the present level of power demand, the surplus would increase to 50,000 Giga Watt Hour by 2028, he argued. "Hefty production cost compared to the neighbouring countries is the major challenge," RSS quoted Bhetuwal as saying. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to NEA Chief Executive Officer Kulman Ghising, how energy consumption could be increased is a serious challenge at present. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Nabil Bank's CEO Anil Keshari Shah worried that if the hydropower sector faced challenges, it would be a huge loss to country. "If the hydropower sector is dented, banks would go bankrupt," he warned, urging for apt management of hydropower in the country.</span></span></span></p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14209', 'image' => '20211213082247_20150823012330_ep1.jpg', 'article_date' => '2021-12-13 08:21:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14462', 'article_category_id' => '1', 'title' => 'Mountain Advocacy Summit to be held in Mustang ', 'sub_title' => '', 'summary' => 'December 12: The Mountain Advocacy Summit-2022 is to be organized in Mustang on March 13 and 14, 2022 to make the world aware of the impact of climate change on the mountainous region. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 12: The Mountain Advocacy Summit-2022 is to be organized in Mustang on March 13 and 14, 2022 to make the world aware of the impact of climate change on the mountainous region. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The objective of the Summit is to draw the attention of all stakeholders towards the problems and challenges faced by the Himalayan region due to the effects of climate change, and towards the possibilities and opportunities as well.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/920769_589580434399017_325803078_o.jpg" style="height:600px; width:800px" /> </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Summit is to be jointly organized by the Karnali Integrated Rural Development and Research Centre (KIRDAC –Nepal), The Mountain Foundation Nepal, the International Forum for Food Security and Climate Justice, among other organisations. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Executive Director of KIRDARC-Nepal, Govinda Bahadur Shahi informed in a press conference that the Summit is being held for discussing issues such as the increasing temperature due to climate change and its direct impact on the mountain ecosystem, the protection of biodiversity in the mountain region and coastal areas and the development of tourism. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/10287024_773958239294568_7942260973591736161_o.jpg" style="height:600px; width:800px" /></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Stating that the mountainous region is at high risk of the impacts of climate change, Shahi underlined the need of informing the national and international sectors about this issue so as to reduce the risk. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Former member of the National Planning Commission (NPC), Min Bahadur Shahi said advocacy at the citizens' level is required for having positive influence in policy-making at the national, regional and international levels in order to protect biodiversity, art, culture and civilization as well as the lifestyle of the people in the mountain and coastal areas. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"It is necessary to provide services in an effective manner through the promotion of an accountable and responsible good governance system for the development and preservation of the mountain region. The development, conservation and preservation of this region will play an important role in the sustainable development of the entire planet and the biosphere, and not only of a specific geography and people's livelihood," Shahi added.-- RSS </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/901230_589580234399037_1411735628_o.jpg" style="height:451px; width:800px" /> </span></span></p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14208', 'image' => '20211212061230_459932_589579011065826_229923417_o.jpg', 'article_date' => '2021-12-12 18:10:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14463', 'article_category_id' => '1', 'title' => 'Trade Deficit through Birgunj Customs Crosses Rs 125 Billion in First Quarter', 'sub_title' => '', 'summary' => 'December 12: Nepal’s trade deficit with India from Birgunj customs alone has reached around Rs 125 billion in the first quarter 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:"Times New Roman","serif"">December 12: Nepal’s trade deficit with India from Birgunj customs alone has reached around Rs 125 billion in the first quarter of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Birgunj Customs Office, the country’s foreign trade with India has been at a deficit of Rs 120 billion between July to October this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the last four months, goods worth Rs 158 billion have been imported from India through Birgunj customs. During the same period, goods worth Rs 38 billion were exported to India, according to the Birgunj Customs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India is also Nepal's largest trading partner. Most of Nepal's imports come from India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The trade deficit with India through Birgunj customs is about 65 percent of the total deficit. In the first four months of the current year, the total trade deficit is Rs 185 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the review period, the country’s total foreign trade was worth Rs 264 billion including imports of Rs 224 billion and exports equal to Rs 39.56 billion. Customs data shows that India is also Nepal’s largest export market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Around 96 percent of the total exports from Birgunj customs were to India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">China, the second-largest trading partner after India, exported goods worth Rs 13 billion to Nepal during the review period, while importing goods worth Rs 13 million. Nepal traded with 33 countries through the Birgunj Customs Office, while trade with the Czech Republic, Norway, Ireland, and Sweden were at a surplus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Foreign trade has increased in the current fiscal year. During the corresponding period of last fiscal year, foreign trade contracted due to the pandemic. Customs officials said that the size of trade has increased, with the increase in demand in the market this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Birgunj dry port mainly imports petroleum products, vehicles, spare parts, industrial raw materials, and exports food grains,<strong> </strong>refined oil, cloth, yarn, and carpets.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14207', 'image' => '20211212073526_Birgunj.jpg', 'article_date' => '2021-12-12 19:34:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14461', 'article_category_id' => '1', 'title' => 'Government Delays Fixing Price of Sugarcane', 'sub_title' => '', 'summary' => 'December 12: Sugarcane farmers are at the receiving end as the government has not been able to fix the price of sugarcane on time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 12: Sugarcane farmers are at the receiving end as the government has not been able to fix the price of sugarcane on time. Thousands of farmers from over two dozen districts of the Terai region are involved in commercial farming of sugarcane. Despite the onset of the crushing season, the government still has not been able to determine the price of sugarcane this year. The farmers are in a dilemma due to this very reason.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">These days, farmers are compelled to visit the government’s administrative building - Singha Durbar - after the government showed no interest to determine the price of sugarcane. Last Thursday, the farmers' representative met Agriculture Minister Mahendra Raya Yadav and Agriculture Secretary Govinda Prasad Sharma and put pressure on them to fix the price of sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the meeting, they demanded to fix a fair price of sugarcane on the basis of production cost and selling price of sugar, said Kapil Muni Mainali, the president of Federation of Sugarcane Producers. They put forth their demand for maintaining the price of sugarcane at Rs 650 per quintal for this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"We have demanded that the minimum price of sugarcane be fixed at Rs 650 per quintal this year," said president Mainali adding, “If the prices allocated are not based on production cost, farmers will stop commercial farming of sugarcane. We have drawn the attention of the government and industrialists in this matter”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prakash Sanjel, the spokesperson for the Ministry of Agriculture and Livestock Development informed that preparations are being made to allocate the price of sugarcane for this year within this week itself. He claimed that this year's pricing of sugarcane will be more scientific and practical than it was in the previous years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Agriculture, the ministry had conducted a field study in 10 districts of the Terai, which is considered as a pocket area of sugarcane, to determine the price of sugarcane for this year. As per the ministry, more than 30 study samples have been collected from each district. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">How was the price for sugarcane fixed last year?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the government had fixed the price of sugarcane at Rs 544.33 per quintal. The breakdown of the amount is given as the price of sugarcane (Rs 386.16), transportation cost and profit (Rs 92.89), and per quintal grant given by the government (Rs 65.28).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The price had increased by only Rs 8 per quintal last year as compared to the previous year. However, the Federation of Sugarcane Producers of Nepal has demanded to fix the price of sugarcane by an additional amount of Rs 106 per quintal as compared to last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sugarcane cultivation in the Terai has been declining for the past few years due to cost overruns. Farmers have been destroying sugarcane due to the problem of not getting the price in proportion to the cost and industrialists not paying the price fixed by the government on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Industries on the verge of closing due to shortage of sugarcane</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the shortage of sugarcane, the industries are on the verge of closure. The sugar industry, which used to remain operational for 4-5 months in winter a few years back, has now started to close within 2 months of operation due to lack of sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Thakur Nepal, the head of the administration department of Indu Shankar Sugar Industry, sugar industries used to start their operation towards the end of November itself until a few years back. However, he said that there are no signs of starting the operation of the sugar industry even until mid-December this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from Indu Shankar Sugar Industry of Sarlahi and Everest Sugar Industry of Mahottari, all the other sugar industries of the country have not paid their dues to the farmers on time. The sugarcane farmers have been upset and de-motivated by this behavior of the industries. As a consequence, farmers have started planting crops other than sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Commercial farming of sugarcane has been taking place in Sarlahi, Mahottari, Dhanusha, Siraha, Saptari, Sunsari, Morang, Rautahat, Bara, Parsa, Nawalparasi and Rupandehi districts in the Terai. Statistics show that Nepal produced 120,000 metric tons of sugar last year. The country has an annual demand of 250,000 metric tons of sugar.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14206', 'image' => '20211212021448_20190107104522_sugarcane.jpg', 'article_date' => '2021-12-12 14:14:17', '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' => '14475', 'article_category_id' => '1', 'title' => 'FNCCI urges France to Invest in Nepal', 'sub_title' => '', 'summary' => 'December 14: Shekhar Golchha, the president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), held a formal meeting with the French Ambassador to Nepal Gilles Bourbao at the FNJ Secretariat on Monday (December 14).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 14: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Shekhar Golchha has called upon French investors to invest in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Golchha made such appeal during a formal meeting with the French Ambassador to Nepal Gilles Bourbao at the FNJ Secretariat on Monday (December 14). </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the FNCCI, the two discussed about joint investment and mutual trade relations as well as issues related to agriculture, tourism, renewable energy among others. Stating that Nepal’s economy has faced many obstacles in the last two years because of Covid-19 pandemic, FNCCI President Golchha during the meeting emphasized on the need for foreign assistance to lift Nepal’s economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also requested for the ambassador’s assistance for French investment in Nepal, FNCCI said in a statement. Golchha clarified that France can reap substantial benefits from the investment made in Nepal due to its geographical location and a country full of youths.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also present during the meeting were Gokarna Raj Awasti, deputy director general of the federation, Charge de Mission of the French Embassy Dipesh Kumar Bidari, FNCCI deputy directors Arun Shrestha and Bidur Chandra Lamichhane.</span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14220', 'image' => '20211214064123_FNCCI.JPG', 'article_date' => '2021-12-14 18:40:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14474', 'article_category_id' => '1', 'title' => 'Insurance Board to Construct a New Building with Rs 470 Million', 'sub_title' => '', 'summary' => 'December 14: The Insurance Board is constructing a new building with an investment of Rs 473.7 million.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The Insurance Board is constructing a new building with an investment of Rs 473.7 million. Finance Minister Janardan Sharma on Monday laid the foundation stone of the building to be constructed at Kupandol in Lalitpur district. Finance Minister Sharma and Urban Development Minister Ram Kumari Jhankri jointly laid the foundation stone of the building.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Addressing the groundbreaking ceremony, Finance Minister Sharma said that farmers of remote areas as well as poor people should have access to insurance policy. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma pointed out that insurance companies should act credibly to convince the public to join insurance shcemes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma also instructed the Insurance Board and insurance companies to make concrete plans to achieve the government's goal of expanding the scope of insurance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, Finance Minister Sharma said that the Ministry of Finance was doing its homework to settle the claims of Covid-19 insurance and the issue would be resolved soon. He said that the ministry is seriously working to protect the investment and business in the stock market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the bills related to Nepal Stock Exchange and Securities Board have reached the final stage of discussion and are about to be endorsed soon, he said that it is essential to empower the regulatory body through laws and regulations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On the occasion, Minister Jhankri said that a well-equipped physical infrastructure and a good environment are needed to make the work of regulatory bodies like the Insurance Board effective.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the Governor of Nepal Rastra Bank, Maha Prasad Adhikari, said that the scope of insurance in the country is gradually increasing and pointed out the need for voluntary insurance rather than a mandatory one.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chairman of the Insurance Board, Surya Prasad Silwal, expressed commitment to move ahead in a timely manner to achieve the government's goal of bringing 33 percent of the total population under the insurance scheme in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Director-General of the Department of Urban Development and Building Construction Padma Kumar Mainali informed that the building of the Insurance Board would be constructed in compliance with all the provisions of the Nepal National Building Code. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The program was attended by Revenue Secretary of the Ministry of Finance Krishna Hari Pushkar, Chief District Officer of Lalitpur District, former Chairman of Insurance Board, Executive Director of Securities Board of Nepal, Chairman and Chief Executive Officers of Insurance Companies and Reinsurance Company.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The building will be constructed on 10 ropanis of land and will be earthquake-resistant and disable-friendly. The building will be seven-story tall and have an international level seminar hall with a capacity to hold 120 participants, a separate meeting room with a capacity of 40 people, underground parking for 80 vehicles. The construction of the building is targeted to be completed within 30 months of its commencement.</span></span></span></span></p> <p><br /> <br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14219', 'image' => '20211214011543_20210627122025_20200417105653_Beema-Samiti.jpg', 'article_date' => '2021-12-14 13:11:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14473', 'article_category_id' => '1', 'title' => 'Tourist Arrival up in Annapurna Circuit', 'sub_title' => '', 'summary' => 'December 14: The number of tourists visiting the Annapurna Circuit has increased in recent days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The number of tourists visiting the Annapurna Circuit has increased in recent days. About 150 to 200 tourists have started coming to the Annapurna circuit on a daily basis now. Hotel entrepreneurs are excited as the tourist activity has increased in this trail with the decline in the risk of coronavirus. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The number of tourists visiting this area used to be around 25 to 30 a few months ago, But it has now started increasing gradually. According to the Annapurna Conservation Area Project (ACAP) Tourist Checkpoint Dharapani, 40 to 50 foreign tourists and 150 to 200 domestic tourists visit the area. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chetra Bahadur Gurung, tourist assistant of the office, said, “Entrepreneurs who were frustrated when tourist arrival stopped due to the pandemic, are now busy in providing service and are making good income. Although it’s cold, the arrival of tourists is increasing.”</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/902644_589586064398454_1487329644_o.jpg" style="height:666px; width:500px" /></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Panch Bahadur Gurung, a tourism entrepreneur of Marsyangdi rural municipality – 4, said that they are earning some money now. “I am very happy to have a daily income of Rs 10,000 to 15,000 at this time after the tourists started coming on this foot trail while we were struggling to earn even Rs 1,000 to Rs 2,000.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Businesses around this circuit are thriving after tourist arrival started increasing. Most of the tourism entrepreneurs are dependent on the tourists visiting the Annapurna circuit. Tourists visit the Annapurna Circuit from Manang to Mustang and Pokhara via Thumra Pass, observing the beauty of the Himalayas, the breathtaking mountains, the high hills, the customs of the people of Manang, and the natural beauty.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Annapurna Circuit connects five districts including Lamjung, Manang, Kaski, Mustang and Myagdi. The entrance of this circuit is Lamjung, Besishahar. The hotels of Besisahar are also filled with tourists coming for trek.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><img alt="" src="/app/webroot/userfiles/images/913654_590328654324195_120661781_o.jpg" style="height:600px; width:800px" /></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14218', 'image' => '20211214010017_478554_589578417732552_135307252_o.jpg', 'article_date' => '2021-12-14 12:58:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14472', 'article_category_id' => '1', 'title' => 'ILO Supports Nepal for Improving Labour Administration ', 'sub_title' => '', 'summary' => 'December 14: The International Labour Organization (ILO) has handed over goods to the Government of Nepal for improving the country’s labour administration. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: The International Labour Organization (ILO) has handed over goods to the Government of Nepal for improving the country’s labour administration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">ILO Nepal Director Richard Howard handed the goods to Minister for Labour Krishna Kumar Shrestha amidst a programme at the Ministry of Labour, Employment and Social Security on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The support includes five motorbikes, 24 laptops and printers. On the occasion, the ILO Nepal Director said ILO has been providing technical cooperation for the security of Nepali workers going on foreign employment or those working inside the country, and for resolving their problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Shrestha thanked ILO for the support it has been providing for systematizing the foreign employment sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Country Programme for Decent Work in Nepal (2018-2022) is in operation with the technical assistance of ILO. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal had become a member of the ILO, a specialized agency of the United Nations Organization, in 1966. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The only tripartite UN agency, since 1919 the ILO brings together governments, employers and workers of 187 member states, to set labour standards, develop policies and devise programmes promoting decent work for all women and men. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14217', 'image' => '20211214105310_ILO.jpg', 'article_date' => '2021-12-14 10:52:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14471', 'article_category_id' => '1', 'title' => 'Farmers Face Shortage of Fertilizer Once Again for Planting Wheat', 'sub_title' => '', 'summary' => 'December 14: The farmers of several districts in the Terai including Bara, Parsa, and Rautahat are facing shortage of Diammonium Phosphate (DAP) fertilizer during the peak season of sowing wheat.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The farmers of several districts in the Terai including Bara, Parsa, and Rautahat are facing shortage of Diammonium Phosphate (DAP) fertilizer during the peak season of sowing wheat.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Shyam Thakur, a farmer from Parsa, Pokhariya complained that he could not get DAP for sowing wheat after harvesting paddy. The government had assured the farmers that there would be no shortage of fertilizers during the wheat sowing season after the farmers had faced shortage of fertilizers during the paddy plantation season. There was shortage during the paddy plantation season as well since the contractor in charge of supplying the fertilizer could not import fertilizer on time. Farmers have not received fertilizer yet even though it is the time of sowing wheat. The government had said that fertilizers would be available for wheat cultivation. But even the fertilizer purchased from Bangladesh has not arrived in the country yet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The regional offices of Agriculture Inputs Company Limited and Salt Trading Corporation located in Birgunj have stated that they have been unable to supply the fertilizers to the farmers. Gorakh Nath K., who is the head of the state-owned Agriculture Inputs Company Limited’s provincial office in Birgunj, said that the shortage has been caused as the supply is less than the demand. KC said that there is high demand for DAP fertilizer. The office has informed that there has been a crisis of fertilizers as the company in charge of supplying fertilizers did not deliver the shipments on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Agriculture Inputs Company Limited has so far sold 9,500 metric tons of DAP in the current fiscal year (FY 2078/79). According to the company, the government has entered a contract to import 25,000 metric tons of DAP through a global tender for this year. KC also informed that two loaded rail racks were on the way to Birgunj Dry Port. The company is confident that 5,000 metric tons of fertilizers loaded in the two racks will arrive at the dry port of Birgunj within this week and the supply will be eased.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14216', 'image' => '20211214104319_images.jpeg-8.jpg', 'article_date' => '2021-12-14 10:42:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14470', 'article_category_id' => '1', 'title' => 'NCDA Denies Involvement in Price Hike of Drugs', 'sub_title' => '', 'summary' => 'December 14: The Nepal Chemists and Druggists Association (NCDA) has denied its involvement in the price hike of drugs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">December 14: The Nepal Chemists and Druggists Association (NCDA) has denied its involvement in the price hike of drugs. Issuing a press statement on Monday, the NCDA said that its attention has been drawn towards the news about price hike of the drugs involving the association.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Stating that some information covered in those news reports were false, the association appealed to the media and media persons to disseminate factual news.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The Drugs Act-2035 BS states that the government of Nepal could consider hiking the price of drugs if needed. The price of 96 types of drugs has been determined accordingly," reads the statement. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The association also explained that it had been determining the prices of the drugs other than those determined by the government as per the prevailing practice. The association further said that it has been importing the drugs at the price no higher than the MRP determined by the manufacturer and the manufacturing countries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The news published about price hike of the drugs was far from reality," said the association thereby appealing to the media and media persons to do thorough research, analysis and studies while disseminating the news about sensitive issues such as drugs. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14215', 'image' => '20211214080539_20200306114347_aaaa.jpg', 'article_date' => '2021-12-14 08:04:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14469', 'article_category_id' => '1', 'title' => 'Jugal Mountain Trail Gets Iron Path, a First-of-its-Kind in Nepal', 'sub_title' => '', 'summary' => 'December 13: An iron path has been constructed along the route of Jugal mountain range for the first time in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: An iron path has been constructed along the route of Jugal mountain range for the first time in Nepal. Iron path is famous in Europe as a protected climbing route mostly found in Alps and certain other areas. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The iron path has been built with an investment of Rs 3 million from the budget allocated for the Great Himalaya Trail. Iron has been inserted into the rocks and hills from the base camp of Mount Jugal to make the path. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Tulsing Gurung, an international mountain guide, said that the iron path has been opened on the route of Jugal mountain range for adventurous tourists and mountain tourism. Gurung added that the iron path is famous in Europe for the rock climbing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Iron path has been constructed for the first time in Nepal. This will aid in the adventure tourism of Nepal,” said Gurung adding, “The path has been constructed in the route of Jugal Himal near Kathmandu. This will help directly with mountain climbing.” A 10-member team of Gurung constructed the iron path in 20 days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite Mount Himal being in close proximity with Kathmandu, the mountain has not been able to get proper publicity. The path to reach the base camp of the mountain used to be unsafe. Gurung now believes that the construction of an iron path would help people travel the difficult terrain with ease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Tourism Board, there are 11 peaks in the Jugal mountain range including the Gyalzen peak. Among them, there are 8 peaks with elevations from 6,256 m to 6,966 m above the sea level. The 6,151-meter-high Gyalzen Peak was successfully climbed for the first time on 9th April, 2019, under the leadership of Maya Gurung. The second ascent to the Gyalzen Peak was under the leadership of climber Sharmila Lama on 19th October, 2020 with a team of 7 climbers. Climber Maya Gurung said that it is possible to climb Gyalzen Peak in less time and at a low cost. Nepalese are required to pay Rs 4,000 and foreigners</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">$ 250 to get permission for climbing the mountain. Climbers who want to climb mountains below 8,000 mters can choose this peak for climbing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We want to seek for the possibilities of tourism and increase employment as well as income,” said climber Gurung adding, “Now there will be an increase in the number of tourists arriving here for climbing the Jugal Himal after the construction of the iron path.” She believes that if the Jugal mountain range can be promoted, there will be creation of employment opportunities for trade and hotel business, which would lead to the development of the region.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">There is a provision that states that the climbers need to climb mountains higher than 6000 m before climbing Mt. Everest, said Hom Narayan Shrestha, chairman of the rural municipality. He said that the climbers have been choosing Jugal Himal for that purpose. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“But climbers say that it is very difficult to climb this mountain,” he said, adding, “We believe that there would be an increase in the number of adventurous tourists after the construction of the iron path”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since Jugal Himal is the nearest mountain to the capital city in addition to being ascended by fewer people, it has been found that climbers are attracted towards this mountain, says tourism entrepreneur Milan Lama.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14214', 'image' => '20211213010237_68453777_2651477498229724_6102999853028081664_n.jpg', 'article_date' => '2021-12-13 13:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14467', 'article_category_id' => '1', 'title' => 'Real Estate Business in Disarray in Lack of Right Regulations', 'sub_title' => '', 'summary' => 'December 13: The real estate business is going through turmoil due to lack of concrete regulations by the government. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: The real estate business is going through turmoil due to lack of concrete regulations by the government. At the same time, the government is losing huge revenue due to its inability to regulate the real estate business digitally.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Studies and reports conducted by government bodies at different times showed that the government is losing a large amount of revenue due to its own incompetence. Recent reports from the Revenue Board, Auditor General have suggested to conduct such transactions in the company model and details of all transactions be kept digitally. However, the government has not taken any action in this regard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a recent report by the Nepal Revenue Advisory Committee, the real estate sector is one of the leading sectors contributing to Nepal's economy. It contributed eleven percent of the GDP in the fiscal year 2020/21. However, this sector has remained the most informal sector. The report states real estate prices in Nepal are extremely volatile, determined mainly by unauthorized local real estate brokers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The report states that the government has not been able to regulate the sector as expected. The country is losing a lot of revenue as the trend of hiding the actual transaction amounts is increasing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The study revealed that in developed countries the value of real estate business is determined scientifically by the government or the regulatory body and it is followed by all the stakeholders. Therefore, the study team had suggested identifying the sectoral problems in Nepal and to tax this sector through agencies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The 58th report of the Auditor General had asked the government to strictly regulate the real estate sector and stop the transactions through intermediaries. However, the Ministry of Land Management, Cooperatives and Poverty Alleviation has not taken any concrete steps in this regard. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the Ministry of Land Management had made internal preparations to make arrangements for buying and selling land for real estate business only through 'companies' due to the rise in tax evasion and fraud cases when buying and selling land through individual agents. Ministry officials acknowledge that no progress has been made in this regard so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Janak Raj Joshi, spokesperson of the Ministry, said that a ‘land market' has been set up to allow purchase and sale of land through authorized bodies only but no conclusion has been reached. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lately, the revenue generated from real estate business has declined . According to the Department of Land Management and Archive, the revenue from real estate transactions has decreased by three billion in the last three months of the current fiscal year. In July, the total revenue including service tax, registration fee and capital gains tax amounted to Rs 8.13 billion which has declined to Rs 5.49 billion by November.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14213', 'image' => '20211213123222_20170320111604_ep.jpg', 'article_date' => '2021-12-13 12:31:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14468', 'article_category_id' => '1', 'title' => 'HAN Demands Immediate Implementation of Tourism Leave', 'sub_title' => '', 'summary' => 'December 13: The Hotel Association Nepal (HAN) has demanded that the government implement the 10-day tourism holiday program announced in the budget as soon as possible. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: The Hotel Association Nepal (HAN) has demanded that the government implement the 10-day tourism holiday program announced in the budget as soon as possible. HAN called for the immediate implementation of the leave to help the tourism and hotel industry revive from the impact of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, the association has also demanded that the government pass the work procedure immediately. Shirjana Rana, president of HAN during a discussion with the Director-General of the Department of Tourism Taranath Adhikari, stressed the role of the department in the revival of the tourism and hotel industry. On the occasion, she said that the issues addressed by the budget and monetary policy of the current fiscal year have not been implemented yet and added that the department should facilitate it implementing them.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, HAN also demanded that the department should relax the Environmental Protection Act 2076, made mandatory for 25-bed hotels. HAN has demanded the department not to make the act binding as it does not seem relevant for hotels operating with a small investment to comply with the act. Similarly, the association has also asked the department to relax registration tax and renewal fee for the convenience of the tourism industry that has been badly affected by the pandemic.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">HAN believes that this will support sustainable tourism. HAN also suggested that the rules and regulations need to be amended from time to time for the betterment of the tourism and hotel industry. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14212', 'image' => '20211213124250_20191017121120_1571271950.jpg', 'article_date' => '2021-12-13 12:42:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14466', 'article_category_id' => '1', 'title' => 'Beding Village Connected to National Grid', 'sub_title' => '', 'summary' => 'December 13: Beding, a famous tourist destination in Gaurishankar rural municipality – 9 of Dolakha, has been linked to the national transmission line.', 'content' => '<p><em>Beding village of Dolakha district serves as a stop-over for visitors en route to Tso Rolpa Lake. Photo Courtesy: Ananda Shrestha/Facebook</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: Beding, a famous tourist destination in Gaurishankar rural municipality – 9 of Dolakha, has been linked to the national transmission line. The Nepal Electricity Authority (NEA) has supplied electricity to Beding through a 24 km long transmission line from the Upper Tamakoshi Hydropower Project site.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Meghnath Dhakal, chief of Dolakha Distribution Center of NEA, informed that the NEA has carried the national transmission line to Beding by transporting utility poles through difficult terrain. According to him, electricity meters will be distributed to the locals as soon as the transformers are connected.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the NEA Dolakha, 390 poles have been laid for the construction of an 1100 KV transmission line, for which Rs 30 million has been invested. The locals of Beding are now excited to get electricity after the village has been connected to the national transmission line.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A micro hydro project at Beding, located at an altitude of 3,721 meters above the sea level, has been damaged for over a decade. Hence, the locals have been depending on solar energy. There are 85 households in Beding.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Located in the foothills of Mount Gaurishankar, Beding is a settlement of the Sherpa community. Tso Rolpa can be reached in a day from here. Mostly, the travellers visiting Tso Rolpa and Rolwaling stay at Beding. So the houses of the village are mostly hotels. The Gaurishankar Conservation Area is also helping the people to operate homestay in Beding to increase their income.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As it is a tourist area, Nepal Telecom has already launched GSM mobile service in the area a few years ago. The locals of Beding hope that their life will be comfortable and trade and businesses will also flourish after their access to electricity.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14211', 'image' => '20211213122316_117752417_409960883315075_3138725282263661235_n.jpg', 'article_date' => '2021-12-13 12:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14465', 'article_category_id' => '1', 'title' => 'Banks Predict Liquidity Crisis to Worsen in January', 'sub_title' => '', 'summary' => 'December 12: Banks have predicted that the liquidity crunch will further worsen in mid-December to mid-January. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 12: Banks have predicted that the liquidity crunch will further worsen in mid-December to mid-January. During this period, industrialists, entrepreneurs, and the banks themselves pay large sums of money in taxes to the government, which is expected to worsen the liquidity crunch in January.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Paying taxes to the government is not the only reason liquidity crisis. Since the country is reeling through the liquidity crunch from the beginning of the current fiscal year and there is no immediate source of deposits, banks estimate that the transfer of billions of rupees from the banking system to the government account will put more pressure on liquidity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Anil Kumar Upadhyaya, president of the Nepal Bankers Association, said the problem of liquidity crunch might worsen in January as banks along with industrialists pay huge sums of taxes to the government. As a result, liquidity is expected to increase.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In light of the current situation, banks and financial institutions are making preparation to address the liquidity crunch. A meeting of the Nepal Bankers Association was held on December 10 but could not take a concrete decision. Upadhyay said that discussions were held to seek solutions to the crisis. He said that the meeting also decided to discuss the current situation with the CEOs of development banks and finance companies. "We will decide our next approach after holding discussions with them," he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions fix new interest rates for deposits and loans effective from the 1st of every month. As January is approaching, banks are now discussing their next move on new interest rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banks have been raising interest rates on deposits since September due to lack of liquidity. However, banks are in a dilemma whether to raise interest rates in January as deposit collection has not improved. Upadhyay argues that the Ministry of Finance and Nepal Rastra Bank should provide necessary support to BFIs in order to address the liquidity crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Raising interest did not increase deposit collection. Therefore, most of the banks are not in favor of raising interest rates," Upadhyaya said, adding that the interest rate should be finalized by the end of December without any delay. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A major source of banking liquidity is government spending. However, government expenditure remains poor in the current fiscal year. As a result, the banking sector is facing liquidity crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At the same time, inflow of remittance, another major source of liquidity, has declined. On top of that, the banks have extended a large amount of credit in this fiscal year. As a result, the banking sector has been reeling through the liquidity crisis since the beginning of the current fiscal year.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14210', 'image' => '20211213094847_Banks.jpg', 'article_date' => '2021-12-13 09:48:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14464', 'article_category_id' => '1', 'title' => 'It's Time for Energy Diplomacy, says Minister', 'sub_title' => 'Experts stress on utilizing electricity for industrial development', 'summary' => 'December 13: With adequate production of electricity in the country in recent days, debates have surfaced on how to utilize electricity as a catalyst for industrial development while ensuring its export.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">December 13: With adequate production of electricity in the country in recent days, debates have surfaced on how to utilize electricity as a catalyst for industrial development while ensuring its export. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Experts have stressed the need for finding international market for electricity produced in Nepal by clearing legal and technical hurdles. Similarly, they gave equal importance to increase internal consumption of energy. The viability is more on export of hydropower to Bangladesh and India, the state-owned national news agency RSS reported. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Export of electricity would reduce trade deficit, the speakers argued. They shared such views at a programme organized jointly by Economic Policy Incubator and Society of Economic Journalists Nepal in the capital on Sunday. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">On the occasion, Minister for Energy, Hydropower and Irrigation Pampha Bhushal said the time has come for Nepal to prefer energy diplomacy to political and economic diplomacy. She also shared that newly appointed Ambassador to India, Shankar Sharma, was also reminded to focus on energy diplomacy during his tenure. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to her, a draft of new laws is being prepared to remove legal and technical hurdles to this end. A bill on this regard would be passed in the winter session of parliament if there would not be any political obstruction, Minister Bhushal said. She urged the private sector to make preparation to export hydropower.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to RSS, Joint Secretary at Energy Ministry Madhu Prasad Bhetuwal said cautious management of electricity is the need of the hour. Based on the present level of power demand, the surplus would increase to 50,000 Giga Watt Hour by 2028, he argued. "Hefty production cost compared to the neighbouring countries is the major challenge," RSS quoted Bhetuwal as saying. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to NEA Chief Executive Officer Kulman Ghising, how energy consumption could be increased is a serious challenge at present. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Nabil Bank's CEO Anil Keshari Shah worried that if the hydropower sector faced challenges, it would be a huge loss to country. "If the hydropower sector is dented, banks would go bankrupt," he warned, urging for apt management of hydropower in the country.</span></span></span></p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14209', 'image' => '20211213082247_20150823012330_ep1.jpg', 'article_date' => '2021-12-13 08:21:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14462', 'article_category_id' => '1', 'title' => 'Mountain Advocacy Summit to be held in Mustang ', 'sub_title' => '', 'summary' => 'December 12: The Mountain Advocacy Summit-2022 is to be organized in Mustang on March 13 and 14, 2022 to make the world aware of the impact of climate change on the mountainous region. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 12: The Mountain Advocacy Summit-2022 is to be organized in Mustang on March 13 and 14, 2022 to make the world aware of the impact of climate change on the mountainous region. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The objective of the Summit is to draw the attention of all stakeholders towards the problems and challenges faced by the Himalayan region due to the effects of climate change, and towards the possibilities and opportunities as well.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/920769_589580434399017_325803078_o.jpg" style="height:600px; width:800px" /> </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Summit is to be jointly organized by the Karnali Integrated Rural Development and Research Centre (KIRDAC –Nepal), The Mountain Foundation Nepal, the International Forum for Food Security and Climate Justice, among other organisations. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Executive Director of KIRDARC-Nepal, Govinda Bahadur Shahi informed in a press conference that the Summit is being held for discussing issues such as the increasing temperature due to climate change and its direct impact on the mountain ecosystem, the protection of biodiversity in the mountain region and coastal areas and the development of tourism. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/10287024_773958239294568_7942260973591736161_o.jpg" style="height:600px; width:800px" /></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Stating that the mountainous region is at high risk of the impacts of climate change, Shahi underlined the need of informing the national and international sectors about this issue so as to reduce the risk. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Former member of the National Planning Commission (NPC), Min Bahadur Shahi said advocacy at the citizens' level is required for having positive influence in policy-making at the national, regional and international levels in order to protect biodiversity, art, culture and civilization as well as the lifestyle of the people in the mountain and coastal areas. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"It is necessary to provide services in an effective manner through the promotion of an accountable and responsible good governance system for the development and preservation of the mountain region. The development, conservation and preservation of this region will play an important role in the sustainable development of the entire planet and the biosphere, and not only of a specific geography and people's livelihood," Shahi added.-- RSS </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/901230_589580234399037_1411735628_o.jpg" style="height:451px; width:800px" /> </span></span></p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14208', 'image' => '20211212061230_459932_589579011065826_229923417_o.jpg', 'article_date' => '2021-12-12 18:10:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14463', 'article_category_id' => '1', 'title' => 'Trade Deficit through Birgunj Customs Crosses Rs 125 Billion in First Quarter', 'sub_title' => '', 'summary' => 'December 12: Nepal’s trade deficit with India from Birgunj customs alone has reached around Rs 125 billion in the first quarter 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:"Times New Roman","serif"">December 12: Nepal’s trade deficit with India from Birgunj customs alone has reached around Rs 125 billion in the first quarter of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Birgunj Customs Office, the country’s foreign trade with India has been at a deficit of Rs 120 billion between July to October this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the last four months, goods worth Rs 158 billion have been imported from India through Birgunj customs. During the same period, goods worth Rs 38 billion were exported to India, according to the Birgunj Customs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India is also Nepal's largest trading partner. Most of Nepal's imports come from India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The trade deficit with India through Birgunj customs is about 65 percent of the total deficit. In the first four months of the current year, the total trade deficit is Rs 185 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the review period, the country’s total foreign trade was worth Rs 264 billion including imports of Rs 224 billion and exports equal to Rs 39.56 billion. Customs data shows that India is also Nepal’s largest export market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Around 96 percent of the total exports from Birgunj customs were to India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">China, the second-largest trading partner after India, exported goods worth Rs 13 billion to Nepal during the review period, while importing goods worth Rs 13 million. Nepal traded with 33 countries through the Birgunj Customs Office, while trade with the Czech Republic, Norway, Ireland, and Sweden were at a surplus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Foreign trade has increased in the current fiscal year. During the corresponding period of last fiscal year, foreign trade contracted due to the pandemic. Customs officials said that the size of trade has increased, with the increase in demand in the market this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Birgunj dry port mainly imports petroleum products, vehicles, spare parts, industrial raw materials, and exports food grains,<strong> </strong>refined oil, cloth, yarn, and carpets.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14207', 'image' => '20211212073526_Birgunj.jpg', 'article_date' => '2021-12-12 19:34:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14461', 'article_category_id' => '1', 'title' => 'Government Delays Fixing Price of Sugarcane', 'sub_title' => '', 'summary' => 'December 12: Sugarcane farmers are at the receiving end as the government has not been able to fix the price of sugarcane on time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 12: Sugarcane farmers are at the receiving end as the government has not been able to fix the price of sugarcane on time. Thousands of farmers from over two dozen districts of the Terai region are involved in commercial farming of sugarcane. Despite the onset of the crushing season, the government still has not been able to determine the price of sugarcane this year. The farmers are in a dilemma due to this very reason.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">These days, farmers are compelled to visit the government’s administrative building - Singha Durbar - after the government showed no interest to determine the price of sugarcane. Last Thursday, the farmers' representative met Agriculture Minister Mahendra Raya Yadav and Agriculture Secretary Govinda Prasad Sharma and put pressure on them to fix the price of sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the meeting, they demanded to fix a fair price of sugarcane on the basis of production cost and selling price of sugar, said Kapil Muni Mainali, the president of Federation of Sugarcane Producers. They put forth their demand for maintaining the price of sugarcane at Rs 650 per quintal for this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"We have demanded that the minimum price of sugarcane be fixed at Rs 650 per quintal this year," said president Mainali adding, “If the prices allocated are not based on production cost, farmers will stop commercial farming of sugarcane. We have drawn the attention of the government and industrialists in this matter”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prakash Sanjel, the spokesperson for the Ministry of Agriculture and Livestock Development informed that preparations are being made to allocate the price of sugarcane for this year within this week itself. He claimed that this year's pricing of sugarcane will be more scientific and practical than it was in the previous years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Agriculture, the ministry had conducted a field study in 10 districts of the Terai, which is considered as a pocket area of sugarcane, to determine the price of sugarcane for this year. As per the ministry, more than 30 study samples have been collected from each district. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">How was the price for sugarcane fixed last year?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the government had fixed the price of sugarcane at Rs 544.33 per quintal. The breakdown of the amount is given as the price of sugarcane (Rs 386.16), transportation cost and profit (Rs 92.89), and per quintal grant given by the government (Rs 65.28).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The price had increased by only Rs 8 per quintal last year as compared to the previous year. However, the Federation of Sugarcane Producers of Nepal has demanded to fix the price of sugarcane by an additional amount of Rs 106 per quintal as compared to last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sugarcane cultivation in the Terai has been declining for the past few years due to cost overruns. Farmers have been destroying sugarcane due to the problem of not getting the price in proportion to the cost and industrialists not paying the price fixed by the government on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Industries on the verge of closing due to shortage of sugarcane</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the shortage of sugarcane, the industries are on the verge of closure. The sugar industry, which used to remain operational for 4-5 months in winter a few years back, has now started to close within 2 months of operation due to lack of sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Thakur Nepal, the head of the administration department of Indu Shankar Sugar Industry, sugar industries used to start their operation towards the end of November itself until a few years back. However, he said that there are no signs of starting the operation of the sugar industry even until mid-December this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from Indu Shankar Sugar Industry of Sarlahi and Everest Sugar Industry of Mahottari, all the other sugar industries of the country have not paid their dues to the farmers on time. The sugarcane farmers have been upset and de-motivated by this behavior of the industries. As a consequence, farmers have started planting crops other than sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Commercial farming of sugarcane has been taking place in Sarlahi, Mahottari, Dhanusha, Siraha, Saptari, Sunsari, Morang, Rautahat, Bara, Parsa, Nawalparasi and Rupandehi districts in the Terai. Statistics show that Nepal produced 120,000 metric tons of sugar last year. The country has an annual demand of 250,000 metric tons of sugar.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14206', 'image' => '20211212021448_20190107104522_sugarcane.jpg', 'article_date' => '2021-12-12 14:14:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14475', 'article_category_id' => '1', 'title' => 'FNCCI urges France to Invest in Nepal', 'sub_title' => '', 'summary' => 'December 14: Shekhar Golchha, the president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), held a formal meeting with the French Ambassador to Nepal Gilles Bourbao at the FNJ Secretariat on Monday (December 14).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 14: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Shekhar Golchha has called upon French investors to invest in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Golchha made such appeal during a formal meeting with the French Ambassador to Nepal Gilles Bourbao at the FNJ Secretariat on Monday (December 14). </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the FNCCI, the two discussed about joint investment and mutual trade relations as well as issues related to agriculture, tourism, renewable energy among others. Stating that Nepal’s economy has faced many obstacles in the last two years because of Covid-19 pandemic, FNCCI President Golchha during the meeting emphasized on the need for foreign assistance to lift Nepal’s economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also requested for the ambassador’s assistance for French investment in Nepal, FNCCI said in a statement. Golchha clarified that France can reap substantial benefits from the investment made in Nepal due to its geographical location and a country full of youths.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also present during the meeting were Gokarna Raj Awasti, deputy director general of the federation, Charge de Mission of the French Embassy Dipesh Kumar Bidari, FNCCI deputy directors Arun Shrestha and Bidur Chandra Lamichhane.</span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14220', 'image' => '20211214064123_FNCCI.JPG', 'article_date' => '2021-12-14 18:40:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14474', 'article_category_id' => '1', 'title' => 'Insurance Board to Construct a New Building with Rs 470 Million', 'sub_title' => '', 'summary' => 'December 14: The Insurance Board is constructing a new building with an investment of Rs 473.7 million.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The Insurance Board is constructing a new building with an investment of Rs 473.7 million. Finance Minister Janardan Sharma on Monday laid the foundation stone of the building to be constructed at Kupandol in Lalitpur district. Finance Minister Sharma and Urban Development Minister Ram Kumari Jhankri jointly laid the foundation stone of the building.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Addressing the groundbreaking ceremony, Finance Minister Sharma said that farmers of remote areas as well as poor people should have access to insurance policy. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma pointed out that insurance companies should act credibly to convince the public to join insurance shcemes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma also instructed the Insurance Board and insurance companies to make concrete plans to achieve the government's goal of expanding the scope of insurance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, Finance Minister Sharma said that the Ministry of Finance was doing its homework to settle the claims of Covid-19 insurance and the issue would be resolved soon. He said that the ministry is seriously working to protect the investment and business in the stock market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the bills related to Nepal Stock Exchange and Securities Board have reached the final stage of discussion and are about to be endorsed soon, he said that it is essential to empower the regulatory body through laws and regulations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On the occasion, Minister Jhankri said that a well-equipped physical infrastructure and a good environment are needed to make the work of regulatory bodies like the Insurance Board effective.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the Governor of Nepal Rastra Bank, Maha Prasad Adhikari, said that the scope of insurance in the country is gradually increasing and pointed out the need for voluntary insurance rather than a mandatory one.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chairman of the Insurance Board, Surya Prasad Silwal, expressed commitment to move ahead in a timely manner to achieve the government's goal of bringing 33 percent of the total population under the insurance scheme in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Director-General of the Department of Urban Development and Building Construction Padma Kumar Mainali informed that the building of the Insurance Board would be constructed in compliance with all the provisions of the Nepal National Building Code. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The program was attended by Revenue Secretary of the Ministry of Finance Krishna Hari Pushkar, Chief District Officer of Lalitpur District, former Chairman of Insurance Board, Executive Director of Securities Board of Nepal, Chairman and Chief Executive Officers of Insurance Companies and Reinsurance Company.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The building will be constructed on 10 ropanis of land and will be earthquake-resistant and disable-friendly. The building will be seven-story tall and have an international level seminar hall with a capacity to hold 120 participants, a separate meeting room with a capacity of 40 people, underground parking for 80 vehicles. The construction of the building is targeted to be completed within 30 months of its commencement.</span></span></span></span></p> <p><br /> <br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14219', 'image' => '20211214011543_20210627122025_20200417105653_Beema-Samiti.jpg', 'article_date' => '2021-12-14 13:11:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14473', 'article_category_id' => '1', 'title' => 'Tourist Arrival up in Annapurna Circuit', 'sub_title' => '', 'summary' => 'December 14: The number of tourists visiting the Annapurna Circuit has increased in recent days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The number of tourists visiting the Annapurna Circuit has increased in recent days. About 150 to 200 tourists have started coming to the Annapurna circuit on a daily basis now. Hotel entrepreneurs are excited as the tourist activity has increased in this trail with the decline in the risk of coronavirus. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The number of tourists visiting this area used to be around 25 to 30 a few months ago, But it has now started increasing gradually. According to the Annapurna Conservation Area Project (ACAP) Tourist Checkpoint Dharapani, 40 to 50 foreign tourists and 150 to 200 domestic tourists visit the area. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chetra Bahadur Gurung, tourist assistant of the office, said, “Entrepreneurs who were frustrated when tourist arrival stopped due to the pandemic, are now busy in providing service and are making good income. Although it’s cold, the arrival of tourists is increasing.”</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/902644_589586064398454_1487329644_o.jpg" style="height:666px; width:500px" /></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Panch Bahadur Gurung, a tourism entrepreneur of Marsyangdi rural municipality – 4, said that they are earning some money now. “I am very happy to have a daily income of Rs 10,000 to 15,000 at this time after the tourists started coming on this foot trail while we were struggling to earn even Rs 1,000 to Rs 2,000.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Businesses around this circuit are thriving after tourist arrival started increasing. Most of the tourism entrepreneurs are dependent on the tourists visiting the Annapurna circuit. Tourists visit the Annapurna Circuit from Manang to Mustang and Pokhara via Thumra Pass, observing the beauty of the Himalayas, the breathtaking mountains, the high hills, the customs of the people of Manang, and the natural beauty.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Annapurna Circuit connects five districts including Lamjung, Manang, Kaski, Mustang and Myagdi. The entrance of this circuit is Lamjung, Besishahar. The hotels of Besisahar are also filled with tourists coming for trek.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><img alt="" src="/app/webroot/userfiles/images/913654_590328654324195_120661781_o.jpg" style="height:600px; width:800px" /></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14218', 'image' => '20211214010017_478554_589578417732552_135307252_o.jpg', 'article_date' => '2021-12-14 12:58:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14472', 'article_category_id' => '1', 'title' => 'ILO Supports Nepal for Improving Labour Administration ', 'sub_title' => '', 'summary' => 'December 14: The International Labour Organization (ILO) has handed over goods to the Government of Nepal for improving the country’s labour administration. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: The International Labour Organization (ILO) has handed over goods to the Government of Nepal for improving the country’s labour administration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">ILO Nepal Director Richard Howard handed the goods to Minister for Labour Krishna Kumar Shrestha amidst a programme at the Ministry of Labour, Employment and Social Security on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The support includes five motorbikes, 24 laptops and printers. On the occasion, the ILO Nepal Director said ILO has been providing technical cooperation for the security of Nepali workers going on foreign employment or those working inside the country, and for resolving their problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Shrestha thanked ILO for the support it has been providing for systematizing the foreign employment sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Country Programme for Decent Work in Nepal (2018-2022) is in operation with the technical assistance of ILO. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal had become a member of the ILO, a specialized agency of the United Nations Organization, in 1966. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The only tripartite UN agency, since 1919 the ILO brings together governments, employers and workers of 187 member states, to set labour standards, develop policies and devise programmes promoting decent work for all women and men. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14217', 'image' => '20211214105310_ILO.jpg', 'article_date' => '2021-12-14 10:52:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14471', 'article_category_id' => '1', 'title' => 'Farmers Face Shortage of Fertilizer Once Again for Planting Wheat', 'sub_title' => '', 'summary' => 'December 14: The farmers of several districts in the Terai including Bara, Parsa, and Rautahat are facing shortage of Diammonium Phosphate (DAP) fertilizer during the peak season of sowing wheat.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The farmers of several districts in the Terai including Bara, Parsa, and Rautahat are facing shortage of Diammonium Phosphate (DAP) fertilizer during the peak season of sowing wheat.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Shyam Thakur, a farmer from Parsa, Pokhariya complained that he could not get DAP for sowing wheat after harvesting paddy. The government had assured the farmers that there would be no shortage of fertilizers during the wheat sowing season after the farmers had faced shortage of fertilizers during the paddy plantation season. There was shortage during the paddy plantation season as well since the contractor in charge of supplying the fertilizer could not import fertilizer on time. Farmers have not received fertilizer yet even though it is the time of sowing wheat. The government had said that fertilizers would be available for wheat cultivation. But even the fertilizer purchased from Bangladesh has not arrived in the country yet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The regional offices of Agriculture Inputs Company Limited and Salt Trading Corporation located in Birgunj have stated that they have been unable to supply the fertilizers to the farmers. Gorakh Nath K., who is the head of the state-owned Agriculture Inputs Company Limited’s provincial office in Birgunj, said that the shortage has been caused as the supply is less than the demand. KC said that there is high demand for DAP fertilizer. The office has informed that there has been a crisis of fertilizers as the company in charge of supplying fertilizers did not deliver the shipments on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Agriculture Inputs Company Limited has so far sold 9,500 metric tons of DAP in the current fiscal year (FY 2078/79). According to the company, the government has entered a contract to import 25,000 metric tons of DAP through a global tender for this year. KC also informed that two loaded rail racks were on the way to Birgunj Dry Port. The company is confident that 5,000 metric tons of fertilizers loaded in the two racks will arrive at the dry port of Birgunj within this week and the supply will be eased.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14216', 'image' => '20211214104319_images.jpeg-8.jpg', 'article_date' => '2021-12-14 10:42:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14470', 'article_category_id' => '1', 'title' => 'NCDA Denies Involvement in Price Hike of Drugs', 'sub_title' => '', 'summary' => 'December 14: The Nepal Chemists and Druggists Association (NCDA) has denied its involvement in the price hike of drugs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">December 14: The Nepal Chemists and Druggists Association (NCDA) has denied its involvement in the price hike of drugs. Issuing a press statement on Monday, the NCDA said that its attention has been drawn towards the news about price hike of the drugs involving the association.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Stating that some information covered in those news reports were false, the association appealed to the media and media persons to disseminate factual news.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The Drugs Act-2035 BS states that the government of Nepal could consider hiking the price of drugs if needed. The price of 96 types of drugs has been determined accordingly," reads the statement. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The association also explained that it had been determining the prices of the drugs other than those determined by the government as per the prevailing practice. The association further said that it has been importing the drugs at the price no higher than the MRP determined by the manufacturer and the manufacturing countries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The news published about price hike of the drugs was far from reality," said the association thereby appealing to the media and media persons to do thorough research, analysis and studies while disseminating the news about sensitive issues such as drugs. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14215', 'image' => '20211214080539_20200306114347_aaaa.jpg', 'article_date' => '2021-12-14 08:04:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14469', 'article_category_id' => '1', 'title' => 'Jugal Mountain Trail Gets Iron Path, a First-of-its-Kind in Nepal', 'sub_title' => '', 'summary' => 'December 13: An iron path has been constructed along the route of Jugal mountain range for the first time in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: An iron path has been constructed along the route of Jugal mountain range for the first time in Nepal. Iron path is famous in Europe as a protected climbing route mostly found in Alps and certain other areas. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The iron path has been built with an investment of Rs 3 million from the budget allocated for the Great Himalaya Trail. Iron has been inserted into the rocks and hills from the base camp of Mount Jugal to make the path. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Tulsing Gurung, an international mountain guide, said that the iron path has been opened on the route of Jugal mountain range for adventurous tourists and mountain tourism. Gurung added that the iron path is famous in Europe for the rock climbing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Iron path has been constructed for the first time in Nepal. This will aid in the adventure tourism of Nepal,” said Gurung adding, “The path has been constructed in the route of Jugal Himal near Kathmandu. This will help directly with mountain climbing.” A 10-member team of Gurung constructed the iron path in 20 days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite Mount Himal being in close proximity with Kathmandu, the mountain has not been able to get proper publicity. The path to reach the base camp of the mountain used to be unsafe. Gurung now believes that the construction of an iron path would help people travel the difficult terrain with ease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Tourism Board, there are 11 peaks in the Jugal mountain range including the Gyalzen peak. Among them, there are 8 peaks with elevations from 6,256 m to 6,966 m above the sea level. The 6,151-meter-high Gyalzen Peak was successfully climbed for the first time on 9th April, 2019, under the leadership of Maya Gurung. The second ascent to the Gyalzen Peak was under the leadership of climber Sharmila Lama on 19th October, 2020 with a team of 7 climbers. Climber Maya Gurung said that it is possible to climb Gyalzen Peak in less time and at a low cost. Nepalese are required to pay Rs 4,000 and foreigners</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">$ 250 to get permission for climbing the mountain. Climbers who want to climb mountains below 8,000 mters can choose this peak for climbing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We want to seek for the possibilities of tourism and increase employment as well as income,” said climber Gurung adding, “Now there will be an increase in the number of tourists arriving here for climbing the Jugal Himal after the construction of the iron path.” She believes that if the Jugal mountain range can be promoted, there will be creation of employment opportunities for trade and hotel business, which would lead to the development of the region.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">There is a provision that states that the climbers need to climb mountains higher than 6000 m before climbing Mt. Everest, said Hom Narayan Shrestha, chairman of the rural municipality. He said that the climbers have been choosing Jugal Himal for that purpose. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“But climbers say that it is very difficult to climb this mountain,” he said, adding, “We believe that there would be an increase in the number of adventurous tourists after the construction of the iron path”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since Jugal Himal is the nearest mountain to the capital city in addition to being ascended by fewer people, it has been found that climbers are attracted towards this mountain, says tourism entrepreneur Milan Lama.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14214', 'image' => '20211213010237_68453777_2651477498229724_6102999853028081664_n.jpg', 'article_date' => '2021-12-13 13:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14467', 'article_category_id' => '1', 'title' => 'Real Estate Business in Disarray in Lack of Right Regulations', 'sub_title' => '', 'summary' => 'December 13: The real estate business is going through turmoil due to lack of concrete regulations by the government. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: The real estate business is going through turmoil due to lack of concrete regulations by the government. At the same time, the government is losing huge revenue due to its inability to regulate the real estate business digitally.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Studies and reports conducted by government bodies at different times showed that the government is losing a large amount of revenue due to its own incompetence. Recent reports from the Revenue Board, Auditor General have suggested to conduct such transactions in the company model and details of all transactions be kept digitally. However, the government has not taken any action in this regard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a recent report by the Nepal Revenue Advisory Committee, the real estate sector is one of the leading sectors contributing to Nepal's economy. It contributed eleven percent of the GDP in the fiscal year 2020/21. However, this sector has remained the most informal sector. The report states real estate prices in Nepal are extremely volatile, determined mainly by unauthorized local real estate brokers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The report states that the government has not been able to regulate the sector as expected. The country is losing a lot of revenue as the trend of hiding the actual transaction amounts is increasing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The study revealed that in developed countries the value of real estate business is determined scientifically by the government or the regulatory body and it is followed by all the stakeholders. Therefore, the study team had suggested identifying the sectoral problems in Nepal and to tax this sector through agencies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The 58th report of the Auditor General had asked the government to strictly regulate the real estate sector and stop the transactions through intermediaries. However, the Ministry of Land Management, Cooperatives and Poverty Alleviation has not taken any concrete steps in this regard. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the Ministry of Land Management had made internal preparations to make arrangements for buying and selling land for real estate business only through 'companies' due to the rise in tax evasion and fraud cases when buying and selling land through individual agents. Ministry officials acknowledge that no progress has been made in this regard so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Janak Raj Joshi, spokesperson of the Ministry, said that a ‘land market' has been set up to allow purchase and sale of land through authorized bodies only but no conclusion has been reached. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lately, the revenue generated from real estate business has declined . According to the Department of Land Management and Archive, the revenue from real estate transactions has decreased by three billion in the last three months of the current fiscal year. In July, the total revenue including service tax, registration fee and capital gains tax amounted to Rs 8.13 billion which has declined to Rs 5.49 billion by November.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14213', 'image' => '20211213123222_20170320111604_ep.jpg', 'article_date' => '2021-12-13 12:31:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14468', 'article_category_id' => '1', 'title' => 'HAN Demands Immediate Implementation of Tourism Leave', 'sub_title' => '', 'summary' => 'December 13: The Hotel Association Nepal (HAN) has demanded that the government implement the 10-day tourism holiday program announced in the budget as soon as possible. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: The Hotel Association Nepal (HAN) has demanded that the government implement the 10-day tourism holiday program announced in the budget as soon as possible. HAN called for the immediate implementation of the leave to help the tourism and hotel industry revive from the impact of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, the association has also demanded that the government pass the work procedure immediately. Shirjana Rana, president of HAN during a discussion with the Director-General of the Department of Tourism Taranath Adhikari, stressed the role of the department in the revival of the tourism and hotel industry. On the occasion, she said that the issues addressed by the budget and monetary policy of the current fiscal year have not been implemented yet and added that the department should facilitate it implementing them.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, HAN also demanded that the department should relax the Environmental Protection Act 2076, made mandatory for 25-bed hotels. HAN has demanded the department not to make the act binding as it does not seem relevant for hotels operating with a small investment to comply with the act. Similarly, the association has also asked the department to relax registration tax and renewal fee for the convenience of the tourism industry that has been badly affected by the pandemic.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">HAN believes that this will support sustainable tourism. HAN also suggested that the rules and regulations need to be amended from time to time for the betterment of the tourism and hotel industry. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14212', 'image' => '20211213124250_20191017121120_1571271950.jpg', 'article_date' => '2021-12-13 12:42:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14466', 'article_category_id' => '1', 'title' => 'Beding Village Connected to National Grid', 'sub_title' => '', 'summary' => 'December 13: Beding, a famous tourist destination in Gaurishankar rural municipality – 9 of Dolakha, has been linked to the national transmission line.', 'content' => '<p><em>Beding village of Dolakha district serves as a stop-over for visitors en route to Tso Rolpa Lake. Photo Courtesy: Ananda Shrestha/Facebook</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: Beding, a famous tourist destination in Gaurishankar rural municipality – 9 of Dolakha, has been linked to the national transmission line. The Nepal Electricity Authority (NEA) has supplied electricity to Beding through a 24 km long transmission line from the Upper Tamakoshi Hydropower Project site.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Meghnath Dhakal, chief of Dolakha Distribution Center of NEA, informed that the NEA has carried the national transmission line to Beding by transporting utility poles through difficult terrain. According to him, electricity meters will be distributed to the locals as soon as the transformers are connected.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the NEA Dolakha, 390 poles have been laid for the construction of an 1100 KV transmission line, for which Rs 30 million has been invested. The locals of Beding are now excited to get electricity after the village has been connected to the national transmission line.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A micro hydro project at Beding, located at an altitude of 3,721 meters above the sea level, has been damaged for over a decade. Hence, the locals have been depending on solar energy. There are 85 households in Beding.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Located in the foothills of Mount Gaurishankar, Beding is a settlement of the Sherpa community. Tso Rolpa can be reached in a day from here. Mostly, the travellers visiting Tso Rolpa and Rolwaling stay at Beding. So the houses of the village are mostly hotels. The Gaurishankar Conservation Area is also helping the people to operate homestay in Beding to increase their income.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As it is a tourist area, Nepal Telecom has already launched GSM mobile service in the area a few years ago. The locals of Beding hope that their life will be comfortable and trade and businesses will also flourish after their access to electricity.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14211', 'image' => '20211213122316_117752417_409960883315075_3138725282263661235_n.jpg', 'article_date' => '2021-12-13 12:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14465', 'article_category_id' => '1', 'title' => 'Banks Predict Liquidity Crisis to Worsen in January', 'sub_title' => '', 'summary' => 'December 12: Banks have predicted that the liquidity crunch will further worsen in mid-December to mid-January. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 12: Banks have predicted that the liquidity crunch will further worsen in mid-December to mid-January. During this period, industrialists, entrepreneurs, and the banks themselves pay large sums of money in taxes to the government, which is expected to worsen the liquidity crunch in January.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Paying taxes to the government is not the only reason liquidity crisis. Since the country is reeling through the liquidity crunch from the beginning of the current fiscal year and there is no immediate source of deposits, banks estimate that the transfer of billions of rupees from the banking system to the government account will put more pressure on liquidity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Anil Kumar Upadhyaya, president of the Nepal Bankers Association, said the problem of liquidity crunch might worsen in January as banks along with industrialists pay huge sums of taxes to the government. As a result, liquidity is expected to increase.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In light of the current situation, banks and financial institutions are making preparation to address the liquidity crunch. A meeting of the Nepal Bankers Association was held on December 10 but could not take a concrete decision. Upadhyay said that discussions were held to seek solutions to the crisis. He said that the meeting also decided to discuss the current situation with the CEOs of development banks and finance companies. "We will decide our next approach after holding discussions with them," he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions fix new interest rates for deposits and loans effective from the 1st of every month. As January is approaching, banks are now discussing their next move on new interest rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banks have been raising interest rates on deposits since September due to lack of liquidity. However, banks are in a dilemma whether to raise interest rates in January as deposit collection has not improved. Upadhyay argues that the Ministry of Finance and Nepal Rastra Bank should provide necessary support to BFIs in order to address the liquidity crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Raising interest did not increase deposit collection. Therefore, most of the banks are not in favor of raising interest rates," Upadhyaya said, adding that the interest rate should be finalized by the end of December without any delay. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A major source of banking liquidity is government spending. However, government expenditure remains poor in the current fiscal year. As a result, the banking sector is facing liquidity crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At the same time, inflow of remittance, another major source of liquidity, has declined. On top of that, the banks have extended a large amount of credit in this fiscal year. As a result, the banking sector has been reeling through the liquidity crisis since the beginning of the current fiscal year.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14210', 'image' => '20211213094847_Banks.jpg', 'article_date' => '2021-12-13 09:48:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14464', 'article_category_id' => '1', 'title' => 'It's Time for Energy Diplomacy, says Minister', 'sub_title' => 'Experts stress on utilizing electricity for industrial development', 'summary' => 'December 13: With adequate production of electricity in the country in recent days, debates have surfaced on how to utilize electricity as a catalyst for industrial development while ensuring its export.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">December 13: With adequate production of electricity in the country in recent days, debates have surfaced on how to utilize electricity as a catalyst for industrial development while ensuring its export. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Experts have stressed the need for finding international market for electricity produced in Nepal by clearing legal and technical hurdles. Similarly, they gave equal importance to increase internal consumption of energy. The viability is more on export of hydropower to Bangladesh and India, the state-owned national news agency RSS reported. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Export of electricity would reduce trade deficit, the speakers argued. They shared such views at a programme organized jointly by Economic Policy Incubator and Society of Economic Journalists Nepal in the capital on Sunday. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">On the occasion, Minister for Energy, Hydropower and Irrigation Pampha Bhushal said the time has come for Nepal to prefer energy diplomacy to political and economic diplomacy. She also shared that newly appointed Ambassador to India, Shankar Sharma, was also reminded to focus on energy diplomacy during his tenure. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to her, a draft of new laws is being prepared to remove legal and technical hurdles to this end. A bill on this regard would be passed in the winter session of parliament if there would not be any political obstruction, Minister Bhushal said. She urged the private sector to make preparation to export hydropower.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to RSS, Joint Secretary at Energy Ministry Madhu Prasad Bhetuwal said cautious management of electricity is the need of the hour. Based on the present level of power demand, the surplus would increase to 50,000 Giga Watt Hour by 2028, he argued. "Hefty production cost compared to the neighbouring countries is the major challenge," RSS quoted Bhetuwal as saying. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to NEA Chief Executive Officer Kulman Ghising, how energy consumption could be increased is a serious challenge at present. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Nabil Bank's CEO Anil Keshari Shah worried that if the hydropower sector faced challenges, it would be a huge loss to country. "If the hydropower sector is dented, banks would go bankrupt," he warned, urging for apt management of hydropower in the country.</span></span></span></p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14209', 'image' => '20211213082247_20150823012330_ep1.jpg', 'article_date' => '2021-12-13 08:21:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14462', 'article_category_id' => '1', 'title' => 'Mountain Advocacy Summit to be held in Mustang ', 'sub_title' => '', 'summary' => 'December 12: The Mountain Advocacy Summit-2022 is to be organized in Mustang on March 13 and 14, 2022 to make the world aware of the impact of climate change on the mountainous region. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 12: The Mountain Advocacy Summit-2022 is to be organized in Mustang on March 13 and 14, 2022 to make the world aware of the impact of climate change on the mountainous region. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The objective of the Summit is to draw the attention of all stakeholders towards the problems and challenges faced by the Himalayan region due to the effects of climate change, and towards the possibilities and opportunities as well.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/920769_589580434399017_325803078_o.jpg" style="height:600px; width:800px" /> </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Summit is to be jointly organized by the Karnali Integrated Rural Development and Research Centre (KIRDAC –Nepal), The Mountain Foundation Nepal, the International Forum for Food Security and Climate Justice, among other organisations. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Executive Director of KIRDARC-Nepal, Govinda Bahadur Shahi informed in a press conference that the Summit is being held for discussing issues such as the increasing temperature due to climate change and its direct impact on the mountain ecosystem, the protection of biodiversity in the mountain region and coastal areas and the development of tourism. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/10287024_773958239294568_7942260973591736161_o.jpg" style="height:600px; width:800px" /></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Stating that the mountainous region is at high risk of the impacts of climate change, Shahi underlined the need of informing the national and international sectors about this issue so as to reduce the risk. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Former member of the National Planning Commission (NPC), Min Bahadur Shahi said advocacy at the citizens' level is required for having positive influence in policy-making at the national, regional and international levels in order to protect biodiversity, art, culture and civilization as well as the lifestyle of the people in the mountain and coastal areas. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"It is necessary to provide services in an effective manner through the promotion of an accountable and responsible good governance system for the development and preservation of the mountain region. The development, conservation and preservation of this region will play an important role in the sustainable development of the entire planet and the biosphere, and not only of a specific geography and people's livelihood," Shahi added.-- RSS </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/901230_589580234399037_1411735628_o.jpg" style="height:451px; width:800px" /> </span></span></p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14208', 'image' => '20211212061230_459932_589579011065826_229923417_o.jpg', 'article_date' => '2021-12-12 18:10:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14463', 'article_category_id' => '1', 'title' => 'Trade Deficit through Birgunj Customs Crosses Rs 125 Billion in First Quarter', 'sub_title' => '', 'summary' => 'December 12: Nepal’s trade deficit with India from Birgunj customs alone has reached around Rs 125 billion in the first quarter 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:"Times New Roman","serif"">December 12: Nepal’s trade deficit with India from Birgunj customs alone has reached around Rs 125 billion in the first quarter of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Birgunj Customs Office, the country’s foreign trade with India has been at a deficit of Rs 120 billion between July to October this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the last four months, goods worth Rs 158 billion have been imported from India through Birgunj customs. During the same period, goods worth Rs 38 billion were exported to India, according to the Birgunj Customs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India is also Nepal's largest trading partner. Most of Nepal's imports come from India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The trade deficit with India through Birgunj customs is about 65 percent of the total deficit. In the first four months of the current year, the total trade deficit is Rs 185 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the review period, the country’s total foreign trade was worth Rs 264 billion including imports of Rs 224 billion and exports equal to Rs 39.56 billion. Customs data shows that India is also Nepal’s largest export market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Around 96 percent of the total exports from Birgunj customs were to India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">China, the second-largest trading partner after India, exported goods worth Rs 13 billion to Nepal during the review period, while importing goods worth Rs 13 million. Nepal traded with 33 countries through the Birgunj Customs Office, while trade with the Czech Republic, Norway, Ireland, and Sweden were at a surplus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Foreign trade has increased in the current fiscal year. During the corresponding period of last fiscal year, foreign trade contracted due to the pandemic. Customs officials said that the size of trade has increased, with the increase in demand in the market this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Birgunj dry port mainly imports petroleum products, vehicles, spare parts, industrial raw materials, and exports food grains,<strong> </strong>refined oil, cloth, yarn, and carpets.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14207', 'image' => '20211212073526_Birgunj.jpg', 'article_date' => '2021-12-12 19:34:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14461', 'article_category_id' => '1', 'title' => 'Government Delays Fixing Price of Sugarcane', 'sub_title' => '', 'summary' => 'December 12: Sugarcane farmers are at the receiving end as the government has not been able to fix the price of sugarcane on time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 12: Sugarcane farmers are at the receiving end as the government has not been able to fix the price of sugarcane on time. Thousands of farmers from over two dozen districts of the Terai region are involved in commercial farming of sugarcane. Despite the onset of the crushing season, the government still has not been able to determine the price of sugarcane this year. The farmers are in a dilemma due to this very reason.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">These days, farmers are compelled to visit the government’s administrative building - Singha Durbar - after the government showed no interest to determine the price of sugarcane. Last Thursday, the farmers' representative met Agriculture Minister Mahendra Raya Yadav and Agriculture Secretary Govinda Prasad Sharma and put pressure on them to fix the price of sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the meeting, they demanded to fix a fair price of sugarcane on the basis of production cost and selling price of sugar, said Kapil Muni Mainali, the president of Federation of Sugarcane Producers. They put forth their demand for maintaining the price of sugarcane at Rs 650 per quintal for this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"We have demanded that the minimum price of sugarcane be fixed at Rs 650 per quintal this year," said president Mainali adding, “If the prices allocated are not based on production cost, farmers will stop commercial farming of sugarcane. We have drawn the attention of the government and industrialists in this matter”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prakash Sanjel, the spokesperson for the Ministry of Agriculture and Livestock Development informed that preparations are being made to allocate the price of sugarcane for this year within this week itself. He claimed that this year's pricing of sugarcane will be more scientific and practical than it was in the previous years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Agriculture, the ministry had conducted a field study in 10 districts of the Terai, which is considered as a pocket area of sugarcane, to determine the price of sugarcane for this year. As per the ministry, more than 30 study samples have been collected from each district. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">How was the price for sugarcane fixed last year?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the government had fixed the price of sugarcane at Rs 544.33 per quintal. The breakdown of the amount is given as the price of sugarcane (Rs 386.16), transportation cost and profit (Rs 92.89), and per quintal grant given by the government (Rs 65.28).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The price had increased by only Rs 8 per quintal last year as compared to the previous year. However, the Federation of Sugarcane Producers of Nepal has demanded to fix the price of sugarcane by an additional amount of Rs 106 per quintal as compared to last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sugarcane cultivation in the Terai has been declining for the past few years due to cost overruns. Farmers have been destroying sugarcane due to the problem of not getting the price in proportion to the cost and industrialists not paying the price fixed by the government on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Industries on the verge of closing due to shortage of sugarcane</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the shortage of sugarcane, the industries are on the verge of closure. The sugar industry, which used to remain operational for 4-5 months in winter a few years back, has now started to close within 2 months of operation due to lack of sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Thakur Nepal, the head of the administration department of Indu Shankar Sugar Industry, sugar industries used to start their operation towards the end of November itself until a few years back. However, he said that there are no signs of starting the operation of the sugar industry even until mid-December this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from Indu Shankar Sugar Industry of Sarlahi and Everest Sugar Industry of Mahottari, all the other sugar industries of the country have not paid their dues to the farmers on time. The sugarcane farmers have been upset and de-motivated by this behavior of the industries. As a consequence, farmers have started planting crops other than sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Commercial farming of sugarcane has been taking place in Sarlahi, Mahottari, Dhanusha, Siraha, Saptari, Sunsari, Morang, Rautahat, Bara, Parsa, Nawalparasi and Rupandehi districts in the Terai. Statistics show that Nepal produced 120,000 metric tons of sugar last year. The country has an annual demand of 250,000 metric tons of sugar.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14206', 'image' => '20211212021448_20190107104522_sugarcane.jpg', 'article_date' => '2021-12-12 14:14:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14475', 'article_category_id' => '1', 'title' => 'FNCCI urges France to Invest in Nepal', 'sub_title' => '', 'summary' => 'December 14: Shekhar Golchha, the president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), held a formal meeting with the French Ambassador to Nepal Gilles Bourbao at the FNJ Secretariat on Monday (December 14).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">December 14: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Shekhar Golchha has called upon French investors to invest in Nepal.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Golchha made such appeal during a formal meeting with the French Ambassador to Nepal Gilles Bourbao at the FNJ Secretariat on Monday (December 14). </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the FNCCI, the two discussed about joint investment and mutual trade relations as well as issues related to agriculture, tourism, renewable energy among others. Stating that Nepal’s economy has faced many obstacles in the last two years because of Covid-19 pandemic, FNCCI President Golchha during the meeting emphasized on the need for foreign assistance to lift Nepal’s economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He also requested for the ambassador’s assistance for French investment in Nepal, FNCCI said in a statement. Golchha clarified that France can reap substantial benefits from the investment made in Nepal due to its geographical location and a country full of youths.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Also present during the meeting were Gokarna Raj Awasti, deputy director general of the federation, Charge de Mission of the French Embassy Dipesh Kumar Bidari, FNCCI deputy directors Arun Shrestha and Bidur Chandra Lamichhane.</span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14220', 'image' => '20211214064123_FNCCI.JPG', 'article_date' => '2021-12-14 18:40:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14474', 'article_category_id' => '1', 'title' => 'Insurance Board to Construct a New Building with Rs 470 Million', 'sub_title' => '', 'summary' => 'December 14: The Insurance Board is constructing a new building with an investment of Rs 473.7 million.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The Insurance Board is constructing a new building with an investment of Rs 473.7 million. Finance Minister Janardan Sharma on Monday laid the foundation stone of the building to be constructed at Kupandol in Lalitpur district. Finance Minister Sharma and Urban Development Minister Ram Kumari Jhankri jointly laid the foundation stone of the building.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Addressing the groundbreaking ceremony, Finance Minister Sharma said that farmers of remote areas as well as poor people should have access to insurance policy. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma pointed out that insurance companies should act credibly to convince the public to join insurance shcemes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma also instructed the Insurance Board and insurance companies to make concrete plans to achieve the government's goal of expanding the scope of insurance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, Finance Minister Sharma said that the Ministry of Finance was doing its homework to settle the claims of Covid-19 insurance and the issue would be resolved soon. He said that the ministry is seriously working to protect the investment and business in the stock market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the bills related to Nepal Stock Exchange and Securities Board have reached the final stage of discussion and are about to be endorsed soon, he said that it is essential to empower the regulatory body through laws and regulations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On the occasion, Minister Jhankri said that a well-equipped physical infrastructure and a good environment are needed to make the work of regulatory bodies like the Insurance Board effective.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the Governor of Nepal Rastra Bank, Maha Prasad Adhikari, said that the scope of insurance in the country is gradually increasing and pointed out the need for voluntary insurance rather than a mandatory one.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chairman of the Insurance Board, Surya Prasad Silwal, expressed commitment to move ahead in a timely manner to achieve the government's goal of bringing 33 percent of the total population under the insurance scheme in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Director-General of the Department of Urban Development and Building Construction Padma Kumar Mainali informed that the building of the Insurance Board would be constructed in compliance with all the provisions of the Nepal National Building Code. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The program was attended by Revenue Secretary of the Ministry of Finance Krishna Hari Pushkar, Chief District Officer of Lalitpur District, former Chairman of Insurance Board, Executive Director of Securities Board of Nepal, Chairman and Chief Executive Officers of Insurance Companies and Reinsurance Company.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The building will be constructed on 10 ropanis of land and will be earthquake-resistant and disable-friendly. The building will be seven-story tall and have an international level seminar hall with a capacity to hold 120 participants, a separate meeting room with a capacity of 40 people, underground parking for 80 vehicles. The construction of the building is targeted to be completed within 30 months of its commencement.</span></span></span></span></p> <p><br /> <br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14219', 'image' => '20211214011543_20210627122025_20200417105653_Beema-Samiti.jpg', 'article_date' => '2021-12-14 13:11:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14473', 'article_category_id' => '1', 'title' => 'Tourist Arrival up in Annapurna Circuit', 'sub_title' => '', 'summary' => 'December 14: The number of tourists visiting the Annapurna Circuit has increased in recent days. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The number of tourists visiting the Annapurna Circuit has increased in recent days. About 150 to 200 tourists have started coming to the Annapurna circuit on a daily basis now. Hotel entrepreneurs are excited as the tourist activity has increased in this trail with the decline in the risk of coronavirus. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The number of tourists visiting this area used to be around 25 to 30 a few months ago, But it has now started increasing gradually. According to the Annapurna Conservation Area Project (ACAP) Tourist Checkpoint Dharapani, 40 to 50 foreign tourists and 150 to 200 domestic tourists visit the area. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chetra Bahadur Gurung, tourist assistant of the office, said, “Entrepreneurs who were frustrated when tourist arrival stopped due to the pandemic, are now busy in providing service and are making good income. Although it’s cold, the arrival of tourists is increasing.”</span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/902644_589586064398454_1487329644_o.jpg" style="height:666px; width:500px" /></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Panch Bahadur Gurung, a tourism entrepreneur of Marsyangdi rural municipality – 4, said that they are earning some money now. “I am very happy to have a daily income of Rs 10,000 to 15,000 at this time after the tourists started coming on this foot trail while we were struggling to earn even Rs 1,000 to Rs 2,000.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Businesses around this circuit are thriving after tourist arrival started increasing. Most of the tourism entrepreneurs are dependent on the tourists visiting the Annapurna circuit. Tourists visit the Annapurna Circuit from Manang to Mustang and Pokhara via Thumra Pass, observing the beauty of the Himalayas, the breathtaking mountains, the high hills, the customs of the people of Manang, and the natural beauty.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Annapurna Circuit connects five districts including Lamjung, Manang, Kaski, Mustang and Myagdi. The entrance of this circuit is Lamjung, Besishahar. The hotels of Besisahar are also filled with tourists coming for trek.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><img alt="" src="/app/webroot/userfiles/images/913654_590328654324195_120661781_o.jpg" style="height:600px; width:800px" /></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14218', 'image' => '20211214010017_478554_589578417732552_135307252_o.jpg', 'article_date' => '2021-12-14 12:58:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14472', 'article_category_id' => '1', 'title' => 'ILO Supports Nepal for Improving Labour Administration ', 'sub_title' => '', 'summary' => 'December 14: The International Labour Organization (ILO) has handed over goods to the Government of Nepal for improving the country’s labour administration. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 14: The International Labour Organization (ILO) has handed over goods to the Government of Nepal for improving the country’s labour administration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">ILO Nepal Director Richard Howard handed the goods to Minister for Labour Krishna Kumar Shrestha amidst a programme at the Ministry of Labour, Employment and Social Security on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The support includes five motorbikes, 24 laptops and printers. On the occasion, the ILO Nepal Director said ILO has been providing technical cooperation for the security of Nepali workers going on foreign employment or those working inside the country, and for resolving their problems. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Shrestha thanked ILO for the support it has been providing for systematizing the foreign employment sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Country Programme for Decent Work in Nepal (2018-2022) is in operation with the technical assistance of ILO. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal had become a member of the ILO, a specialized agency of the United Nations Organization, in 1966. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The only tripartite UN agency, since 1919 the ILO brings together governments, employers and workers of 187 member states, to set labour standards, develop policies and devise programmes promoting decent work for all women and men. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14217', 'image' => '20211214105310_ILO.jpg', 'article_date' => '2021-12-14 10:52:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14471', 'article_category_id' => '1', 'title' => 'Farmers Face Shortage of Fertilizer Once Again for Planting Wheat', 'sub_title' => '', 'summary' => 'December 14: The farmers of several districts in the Terai including Bara, Parsa, and Rautahat are facing shortage of Diammonium Phosphate (DAP) fertilizer during the peak season of sowing wheat.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 14: The farmers of several districts in the Terai including Bara, Parsa, and Rautahat are facing shortage of Diammonium Phosphate (DAP) fertilizer during the peak season of sowing wheat.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Shyam Thakur, a farmer from Parsa, Pokhariya complained that he could not get DAP for sowing wheat after harvesting paddy. The government had assured the farmers that there would be no shortage of fertilizers during the wheat sowing season after the farmers had faced shortage of fertilizers during the paddy plantation season. There was shortage during the paddy plantation season as well since the contractor in charge of supplying the fertilizer could not import fertilizer on time. Farmers have not received fertilizer yet even though it is the time of sowing wheat. The government had said that fertilizers would be available for wheat cultivation. But even the fertilizer purchased from Bangladesh has not arrived in the country yet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The regional offices of Agriculture Inputs Company Limited and Salt Trading Corporation located in Birgunj have stated that they have been unable to supply the fertilizers to the farmers. Gorakh Nath K., who is the head of the state-owned Agriculture Inputs Company Limited’s provincial office in Birgunj, said that the shortage has been caused as the supply is less than the demand. KC said that there is high demand for DAP fertilizer. The office has informed that there has been a crisis of fertilizers as the company in charge of supplying fertilizers did not deliver the shipments on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Agriculture Inputs Company Limited has so far sold 9,500 metric tons of DAP in the current fiscal year (FY 2078/79). According to the company, the government has entered a contract to import 25,000 metric tons of DAP through a global tender for this year. KC also informed that two loaded rail racks were on the way to Birgunj Dry Port. The company is confident that 5,000 metric tons of fertilizers loaded in the two racks will arrive at the dry port of Birgunj within this week and the supply will be eased.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14216', 'image' => '20211214104319_images.jpeg-8.jpg', 'article_date' => '2021-12-14 10:42:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14470', 'article_category_id' => '1', 'title' => 'NCDA Denies Involvement in Price Hike of Drugs', 'sub_title' => '', 'summary' => 'December 14: The Nepal Chemists and Druggists Association (NCDA) has denied its involvement in the price hike of drugs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">December 14: The Nepal Chemists and Druggists Association (NCDA) has denied its involvement in the price hike of drugs. Issuing a press statement on Monday, the NCDA said that its attention has been drawn towards the news about price hike of the drugs involving the association.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Stating that some information covered in those news reports were false, the association appealed to the media and media persons to disseminate factual news.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The Drugs Act-2035 BS states that the government of Nepal could consider hiking the price of drugs if needed. The price of 96 types of drugs has been determined accordingly," reads the statement. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The association also explained that it had been determining the prices of the drugs other than those determined by the government as per the prevailing practice. The association further said that it has been importing the drugs at the price no higher than the MRP determined by the manufacturer and the manufacturing countries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">"The news published about price hike of the drugs was far from reality," said the association thereby appealing to the media and media persons to do thorough research, analysis and studies while disseminating the news about sensitive issues such as drugs. -- RSS </span></span></p> ', 'published' => true, 'created' => '2021-12-14', 'modified' => '2021-12-14', 'keywords' => '', 'description' => '', 'sortorder' => '14215', 'image' => '20211214080539_20200306114347_aaaa.jpg', 'article_date' => '2021-12-14 08:04:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14469', 'article_category_id' => '1', 'title' => 'Jugal Mountain Trail Gets Iron Path, a First-of-its-Kind in Nepal', 'sub_title' => '', 'summary' => 'December 13: An iron path has been constructed along the route of Jugal mountain range for the first time in Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: An iron path has been constructed along the route of Jugal mountain range for the first time in Nepal. Iron path is famous in Europe as a protected climbing route mostly found in Alps and certain other areas. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The iron path has been built with an investment of Rs 3 million from the budget allocated for the Great Himalaya Trail. Iron has been inserted into the rocks and hills from the base camp of Mount Jugal to make the path. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Tulsing Gurung, an international mountain guide, said that the iron path has been opened on the route of Jugal mountain range for adventurous tourists and mountain tourism. Gurung added that the iron path is famous in Europe for the rock climbing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Iron path has been constructed for the first time in Nepal. This will aid in the adventure tourism of Nepal,” said Gurung adding, “The path has been constructed in the route of Jugal Himal near Kathmandu. This will help directly with mountain climbing.” A 10-member team of Gurung constructed the iron path in 20 days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite Mount Himal being in close proximity with Kathmandu, the mountain has not been able to get proper publicity. The path to reach the base camp of the mountain used to be unsafe. Gurung now believes that the construction of an iron path would help people travel the difficult terrain with ease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Tourism Board, there are 11 peaks in the Jugal mountain range including the Gyalzen peak. Among them, there are 8 peaks with elevations from 6,256 m to 6,966 m above the sea level. The 6,151-meter-high Gyalzen Peak was successfully climbed for the first time on 9th April, 2019, under the leadership of Maya Gurung. The second ascent to the Gyalzen Peak was under the leadership of climber Sharmila Lama on 19th October, 2020 with a team of 7 climbers. Climber Maya Gurung said that it is possible to climb Gyalzen Peak in less time and at a low cost. Nepalese are required to pay Rs 4,000 and foreigners</span></span> <span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">$ 250 to get permission for climbing the mountain. Climbers who want to climb mountains below 8,000 mters can choose this peak for climbing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We want to seek for the possibilities of tourism and increase employment as well as income,” said climber Gurung adding, “Now there will be an increase in the number of tourists arriving here for climbing the Jugal Himal after the construction of the iron path.” She believes that if the Jugal mountain range can be promoted, there will be creation of employment opportunities for trade and hotel business, which would lead to the development of the region.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">There is a provision that states that the climbers need to climb mountains higher than 6000 m before climbing Mt. Everest, said Hom Narayan Shrestha, chairman of the rural municipality. He said that the climbers have been choosing Jugal Himal for that purpose. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“But climbers say that it is very difficult to climb this mountain,” he said, adding, “We believe that there would be an increase in the number of adventurous tourists after the construction of the iron path”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since Jugal Himal is the nearest mountain to the capital city in addition to being ascended by fewer people, it has been found that climbers are attracted towards this mountain, says tourism entrepreneur Milan Lama.</span></span></span></span></p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14214', 'image' => '20211213010237_68453777_2651477498229724_6102999853028081664_n.jpg', 'article_date' => '2021-12-13 13:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14467', 'article_category_id' => '1', 'title' => 'Real Estate Business in Disarray in Lack of Right Regulations', 'sub_title' => '', 'summary' => 'December 13: The real estate business is going through turmoil due to lack of concrete regulations by the government. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: The real estate business is going through turmoil due to lack of concrete regulations by the government. At the same time, the government is losing huge revenue due to its inability to regulate the real estate business digitally.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Studies and reports conducted by government bodies at different times showed that the government is losing a large amount of revenue due to its own incompetence. Recent reports from the Revenue Board, Auditor General have suggested to conduct such transactions in the company model and details of all transactions be kept digitally. However, the government has not taken any action in this regard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a recent report by the Nepal Revenue Advisory Committee, the real estate sector is one of the leading sectors contributing to Nepal's economy. It contributed eleven percent of the GDP in the fiscal year 2020/21. However, this sector has remained the most informal sector. The report states real estate prices in Nepal are extremely volatile, determined mainly by unauthorized local real estate brokers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The report states that the government has not been able to regulate the sector as expected. The country is losing a lot of revenue as the trend of hiding the actual transaction amounts is increasing.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The study revealed that in developed countries the value of real estate business is determined scientifically by the government or the regulatory body and it is followed by all the stakeholders. Therefore, the study team had suggested identifying the sectoral problems in Nepal and to tax this sector through agencies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The 58th report of the Auditor General had asked the government to strictly regulate the real estate sector and stop the transactions through intermediaries. However, the Ministry of Land Management, Cooperatives and Poverty Alleviation has not taken any concrete steps in this regard. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the Ministry of Land Management had made internal preparations to make arrangements for buying and selling land for real estate business only through 'companies' due to the rise in tax evasion and fraud cases when buying and selling land through individual agents. Ministry officials acknowledge that no progress has been made in this regard so far. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Janak Raj Joshi, spokesperson of the Ministry, said that a ‘land market' has been set up to allow purchase and sale of land through authorized bodies only but no conclusion has been reached. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lately, the revenue generated from real estate business has declined . According to the Department of Land Management and Archive, the revenue from real estate transactions has decreased by three billion in the last three months of the current fiscal year. In July, the total revenue including service tax, registration fee and capital gains tax amounted to Rs 8.13 billion which has declined to Rs 5.49 billion by November.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14213', 'image' => '20211213123222_20170320111604_ep.jpg', 'article_date' => '2021-12-13 12:31:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14468', 'article_category_id' => '1', 'title' => 'HAN Demands Immediate Implementation of Tourism Leave', 'sub_title' => '', 'summary' => 'December 13: The Hotel Association Nepal (HAN) has demanded that the government implement the 10-day tourism holiday program announced in the budget as soon as possible. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: The Hotel Association Nepal (HAN) has demanded that the government implement the 10-day tourism holiday program announced in the budget as soon as possible. HAN called for the immediate implementation of the leave to help the tourism and hotel industry revive from the impact of Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Likewise, the association has also demanded that the government pass the work procedure immediately. Shirjana Rana, president of HAN during a discussion with the Director-General of the Department of Tourism Taranath Adhikari, stressed the role of the department in the revival of the tourism and hotel industry. On the occasion, she said that the issues addressed by the budget and monetary policy of the current fiscal year have not been implemented yet and added that the department should facilitate it implementing them.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, HAN also demanded that the department should relax the Environmental Protection Act 2076, made mandatory for 25-bed hotels. HAN has demanded the department not to make the act binding as it does not seem relevant for hotels operating with a small investment to comply with the act. Similarly, the association has also asked the department to relax registration tax and renewal fee for the convenience of the tourism industry that has been badly affected by the pandemic.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">HAN believes that this will support sustainable tourism. HAN also suggested that the rules and regulations need to be amended from time to time for the betterment of the tourism and hotel industry. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14212', 'image' => '20211213124250_20191017121120_1571271950.jpg', 'article_date' => '2021-12-13 12:42:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14466', 'article_category_id' => '1', 'title' => 'Beding Village Connected to National Grid', 'sub_title' => '', 'summary' => 'December 13: Beding, a famous tourist destination in Gaurishankar rural municipality – 9 of Dolakha, has been linked to the national transmission line.', 'content' => '<p><em>Beding village of Dolakha district serves as a stop-over for visitors en route to Tso Rolpa Lake. Photo Courtesy: Ananda Shrestha/Facebook</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 13: Beding, a famous tourist destination in Gaurishankar rural municipality – 9 of Dolakha, has been linked to the national transmission line. The Nepal Electricity Authority (NEA) has supplied electricity to Beding through a 24 km long transmission line from the Upper Tamakoshi Hydropower Project site.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Meghnath Dhakal, chief of Dolakha Distribution Center of NEA, informed that the NEA has carried the national transmission line to Beding by transporting utility poles through difficult terrain. According to him, electricity meters will be distributed to the locals as soon as the transformers are connected.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the NEA Dolakha, 390 poles have been laid for the construction of an 1100 KV transmission line, for which Rs 30 million has been invested. The locals of Beding are now excited to get electricity after the village has been connected to the national transmission line.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A micro hydro project at Beding, located at an altitude of 3,721 meters above the sea level, has been damaged for over a decade. Hence, the locals have been depending on solar energy. There are 85 households in Beding.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Located in the foothills of Mount Gaurishankar, Beding is a settlement of the Sherpa community. Tso Rolpa can be reached in a day from here. Mostly, the travellers visiting Tso Rolpa and Rolwaling stay at Beding. So the houses of the village are mostly hotels. The Gaurishankar Conservation Area is also helping the people to operate homestay in Beding to increase their income.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As it is a tourist area, Nepal Telecom has already launched GSM mobile service in the area a few years ago. The locals of Beding hope that their life will be comfortable and trade and businesses will also flourish after their access to electricity.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14211', 'image' => '20211213122316_117752417_409960883315075_3138725282263661235_n.jpg', 'article_date' => '2021-12-13 12:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14465', 'article_category_id' => '1', 'title' => 'Banks Predict Liquidity Crisis to Worsen in January', 'sub_title' => '', 'summary' => 'December 12: Banks have predicted that the liquidity crunch will further worsen in mid-December to mid-January. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 12: Banks have predicted that the liquidity crunch will further worsen in mid-December to mid-January. During this period, industrialists, entrepreneurs, and the banks themselves pay large sums of money in taxes to the government, which is expected to worsen the liquidity crunch in January.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Paying taxes to the government is not the only reason liquidity crisis. Since the country is reeling through the liquidity crunch from the beginning of the current fiscal year and there is no immediate source of deposits, banks estimate that the transfer of billions of rupees from the banking system to the government account will put more pressure on liquidity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Anil Kumar Upadhyaya, president of the Nepal Bankers Association, said the problem of liquidity crunch might worsen in January as banks along with industrialists pay huge sums of taxes to the government. As a result, liquidity is expected to increase.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In light of the current situation, banks and financial institutions are making preparation to address the liquidity crunch. A meeting of the Nepal Bankers Association was held on December 10 but could not take a concrete decision. Upadhyay said that discussions were held to seek solutions to the crisis. He said that the meeting also decided to discuss the current situation with the CEOs of development banks and finance companies. "We will decide our next approach after holding discussions with them," he said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banks and financial institutions fix new interest rates for deposits and loans effective from the 1st of every month. As January is approaching, banks are now discussing their next move on new interest rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Banks have been raising interest rates on deposits since September due to lack of liquidity. However, banks are in a dilemma whether to raise interest rates in January as deposit collection has not improved. Upadhyay argues that the Ministry of Finance and Nepal Rastra Bank should provide necessary support to BFIs in order to address the liquidity crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Raising interest did not increase deposit collection. Therefore, most of the banks are not in favor of raising interest rates," Upadhyaya said, adding that the interest rate should be finalized by the end of December without any delay. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A major source of banking liquidity is government spending. However, government expenditure remains poor in the current fiscal year. As a result, the banking sector is facing liquidity crisis.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At the same time, inflow of remittance, another major source of liquidity, has declined. On top of that, the banks have extended a large amount of credit in this fiscal year. As a result, the banking sector has been reeling through the liquidity crisis since the beginning of the current fiscal year.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14210', 'image' => '20211213094847_Banks.jpg', 'article_date' => '2021-12-13 09:48:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14464', 'article_category_id' => '1', 'title' => 'It's Time for Energy Diplomacy, says Minister', 'sub_title' => 'Experts stress on utilizing electricity for industrial development', 'summary' => 'December 13: With adequate production of electricity in the country in recent days, debates have surfaced on how to utilize electricity as a catalyst for industrial development while ensuring its export.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">December 13: With adequate production of electricity in the country in recent days, debates have surfaced on how to utilize electricity as a catalyst for industrial development while ensuring its export. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Experts have stressed the need for finding international market for electricity produced in Nepal by clearing legal and technical hurdles. Similarly, they gave equal importance to increase internal consumption of energy. The viability is more on export of hydropower to Bangladesh and India, the state-owned national news agency RSS reported. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Export of electricity would reduce trade deficit, the speakers argued. They shared such views at a programme organized jointly by Economic Policy Incubator and Society of Economic Journalists Nepal in the capital on Sunday. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">On the occasion, Minister for Energy, Hydropower and Irrigation Pampha Bhushal said the time has come for Nepal to prefer energy diplomacy to political and economic diplomacy. She also shared that newly appointed Ambassador to India, Shankar Sharma, was also reminded to focus on energy diplomacy during his tenure. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to her, a draft of new laws is being prepared to remove legal and technical hurdles to this end. A bill on this regard would be passed in the winter session of parliament if there would not be any political obstruction, Minister Bhushal said. She urged the private sector to make preparation to export hydropower.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to RSS, Joint Secretary at Energy Ministry Madhu Prasad Bhetuwal said cautious management of electricity is the need of the hour. Based on the present level of power demand, the surplus would increase to 50,000 Giga Watt Hour by 2028, he argued. "Hefty production cost compared to the neighbouring countries is the major challenge," RSS quoted Bhetuwal as saying. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">According to NEA Chief Executive Officer Kulman Ghising, how energy consumption could be increased is a serious challenge at present. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Nabil Bank's CEO Anil Keshari Shah worried that if the hydropower sector faced challenges, it would be a huge loss to country. "If the hydropower sector is dented, banks would go bankrupt," he warned, urging for apt management of hydropower in the country.</span></span></span></p> ', 'published' => true, 'created' => '2021-12-13', 'modified' => '2021-12-13', 'keywords' => '', 'description' => '', 'sortorder' => '14209', 'image' => '20211213082247_20150823012330_ep1.jpg', 'article_date' => '2021-12-13 08:21:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14462', 'article_category_id' => '1', 'title' => 'Mountain Advocacy Summit to be held in Mustang ', 'sub_title' => '', 'summary' => 'December 12: The Mountain Advocacy Summit-2022 is to be organized in Mustang on March 13 and 14, 2022 to make the world aware of the impact of climate change on the mountainous region. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 12: The Mountain Advocacy Summit-2022 is to be organized in Mustang on March 13 and 14, 2022 to make the world aware of the impact of climate change on the mountainous region. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The objective of the Summit is to draw the attention of all stakeholders towards the problems and challenges faced by the Himalayan region due to the effects of climate change, and towards the possibilities and opportunities as well.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/920769_589580434399017_325803078_o.jpg" style="height:600px; width:800px" /> </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The Summit is to be jointly organized by the Karnali Integrated Rural Development and Research Centre (KIRDAC –Nepal), The Mountain Foundation Nepal, the International Forum for Food Security and Climate Justice, among other organisations. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Executive Director of KIRDARC-Nepal, Govinda Bahadur Shahi informed in a press conference that the Summit is being held for discussing issues such as the increasing temperature due to climate change and its direct impact on the mountain ecosystem, the protection of biodiversity in the mountain region and coastal areas and the development of tourism. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/10287024_773958239294568_7942260973591736161_o.jpg" style="height:600px; width:800px" /></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Stating that the mountainous region is at high risk of the impacts of climate change, Shahi underlined the need of informing the national and international sectors about this issue so as to reduce the risk. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Former member of the National Planning Commission (NPC), Min Bahadur Shahi said advocacy at the citizens' level is required for having positive influence in policy-making at the national, regional and international levels in order to protect biodiversity, art, culture and civilization as well as the lifestyle of the people in the mountain and coastal areas. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"It is necessary to provide services in an effective manner through the promotion of an accountable and responsible good governance system for the development and preservation of the mountain region. The development, conservation and preservation of this region will play an important role in the sustainable development of the entire planet and the biosphere, and not only of a specific geography and people's livelihood," Shahi added.-- RSS </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><img alt="" src="/app/webroot/userfiles/images/901230_589580234399037_1411735628_o.jpg" style="height:451px; width:800px" /> </span></span></p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14208', 'image' => '20211212061230_459932_589579011065826_229923417_o.jpg', 'article_date' => '2021-12-12 18:10:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14463', 'article_category_id' => '1', 'title' => 'Trade Deficit through Birgunj Customs Crosses Rs 125 Billion in First Quarter', 'sub_title' => '', 'summary' => 'December 12: Nepal’s trade deficit with India from Birgunj customs alone has reached around Rs 125 billion in the first quarter 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:"Times New Roman","serif"">December 12: Nepal’s trade deficit with India from Birgunj customs alone has reached around Rs 125 billion in the first quarter of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Birgunj Customs Office, the country’s foreign trade with India has been at a deficit of Rs 120 billion between July to October this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the last four months, goods worth Rs 158 billion have been imported from India through Birgunj customs. During the same period, goods worth Rs 38 billion were exported to India, according to the Birgunj Customs.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India is also Nepal's largest trading partner. Most of Nepal's imports come from India. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The trade deficit with India through Birgunj customs is about 65 percent of the total deficit. In the first four months of the current year, the total trade deficit is Rs 185 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the review period, the country’s total foreign trade was worth Rs 264 billion including imports of Rs 224 billion and exports equal to Rs 39.56 billion. Customs data shows that India is also Nepal’s largest export market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Around 96 percent of the total exports from Birgunj customs were to India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">China, the second-largest trading partner after India, exported goods worth Rs 13 billion to Nepal during the review period, while importing goods worth Rs 13 million. Nepal traded with 33 countries through the Birgunj Customs Office, while trade with the Czech Republic, Norway, Ireland, and Sweden were at a surplus.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Foreign trade has increased in the current fiscal year. During the corresponding period of last fiscal year, foreign trade contracted due to the pandemic. Customs officials said that the size of trade has increased, with the increase in demand in the market this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Birgunj dry port mainly imports petroleum products, vehicles, spare parts, industrial raw materials, and exports food grains,<strong> </strong>refined oil, cloth, yarn, and carpets.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14207', 'image' => '20211212073526_Birgunj.jpg', 'article_date' => '2021-12-12 19:34:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14461', 'article_category_id' => '1', 'title' => 'Government Delays Fixing Price of Sugarcane', 'sub_title' => '', 'summary' => 'December 12: Sugarcane farmers are at the receiving end as the government has not been able to fix the price of sugarcane on time. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">December 12: Sugarcane farmers are at the receiving end as the government has not been able to fix the price of sugarcane on time. Thousands of farmers from over two dozen districts of the Terai region are involved in commercial farming of sugarcane. Despite the onset of the crushing season, the government still has not been able to determine the price of sugarcane this year. The farmers are in a dilemma due to this very reason.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">These days, farmers are compelled to visit the government’s administrative building - Singha Durbar - after the government showed no interest to determine the price of sugarcane. Last Thursday, the farmers' representative met Agriculture Minister Mahendra Raya Yadav and Agriculture Secretary Govinda Prasad Sharma and put pressure on them to fix the price of sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During the meeting, they demanded to fix a fair price of sugarcane on the basis of production cost and selling price of sugar, said Kapil Muni Mainali, the president of Federation of Sugarcane Producers. They put forth their demand for maintaining the price of sugarcane at Rs 650 per quintal for this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"We have demanded that the minimum price of sugarcane be fixed at Rs 650 per quintal this year," said president Mainali adding, “If the prices allocated are not based on production cost, farmers will stop commercial farming of sugarcane. We have drawn the attention of the government and industrialists in this matter”.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prakash Sanjel, the spokesperson for the Ministry of Agriculture and Livestock Development informed that preparations are being made to allocate the price of sugarcane for this year within this week itself. He claimed that this year's pricing of sugarcane will be more scientific and practical than it was in the previous years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Agriculture, the ministry had conducted a field study in 10 districts of the Terai, which is considered as a pocket area of sugarcane, to determine the price of sugarcane for this year. As per the ministry, more than 30 study samples have been collected from each district. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">How was the price for sugarcane fixed last year?</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Last year, the government had fixed the price of sugarcane at Rs 544.33 per quintal. The breakdown of the amount is given as the price of sugarcane (Rs 386.16), transportation cost and profit (Rs 92.89), and per quintal grant given by the government (Rs 65.28).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The price had increased by only Rs 8 per quintal last year as compared to the previous year. However, the Federation of Sugarcane Producers of Nepal has demanded to fix the price of sugarcane by an additional amount of Rs 106 per quintal as compared to last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sugarcane cultivation in the Terai has been declining for the past few years due to cost overruns. Farmers have been destroying sugarcane due to the problem of not getting the price in proportion to the cost and industrialists not paying the price fixed by the government on time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Industries on the verge of closing due to shortage of sugarcane</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the shortage of sugarcane, the industries are on the verge of closure. The sugar industry, which used to remain operational for 4-5 months in winter a few years back, has now started to close within 2 months of operation due to lack of sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Thakur Nepal, the head of the administration department of Indu Shankar Sugar Industry, sugar industries used to start their operation towards the end of November itself until a few years back. However, he said that there are no signs of starting the operation of the sugar industry even until mid-December this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from Indu Shankar Sugar Industry of Sarlahi and Everest Sugar Industry of Mahottari, all the other sugar industries of the country have not paid their dues to the farmers on time. The sugarcane farmers have been upset and de-motivated by this behavior of the industries. As a consequence, farmers have started planting crops other than sugarcane.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Commercial farming of sugarcane has been taking place in Sarlahi, Mahottari, Dhanusha, Siraha, Saptari, Sunsari, Morang, Rautahat, Bara, Parsa, Nawalparasi and Rupandehi districts in the Terai. Statistics show that Nepal produced 120,000 metric tons of sugar last year. The country has an annual demand of 250,000 metric tons of sugar.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-12-12', 'modified' => '2021-12-12', 'keywords' => '', 'description' => '', 'sortorder' => '14206', 'image' => '20211212021448_20190107104522_sugarcane.jpg', 'article_date' => '2021-12-12 14:14:17', '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
