June 30: Finance Minister Bishnu Poudel has said that the phase of developing digital economy has begun in the country.…
June 30: Finance Minister Bishnu Poudel has said that the phase of developing digital economy has begun in the country.…
June 30: Yoghurt worth more than Rs 190 million has been sold across the country on Tuesday, June 29,…
June 29: Projects involved in production, transmission and distribution of electricity have been told to renew their survey license by…
June 29: South Asia’s heavy reliance on state-owned commercial banks, state-owned enterprises, public-private partnerships and other national and sub-national public entities conceals its vulnerability to accumulating unsustainable levels of…
June 29: The Federation of Woman Entrepreneurs Associations of Nepal (FWEAN) is organizing the 5th International Women’s Trade Expo 2021 from September 2-6,…
June 29: Although the number of tourists visiting Nepal reduced drastically in 2020, their length of stay has increased to some extent.…
June 29: The government is preparing to allocate billions of rupees to generate thousands of employment in the fiscal year…
Government authorities have once again extended the Covid-19 prohibitory order in Kathmandu valley by a week, effective from June…
June 28: Commercial banks have imported 200 kg of gold after the lockdown was eased.…
June 28: Engineers of the National Reconstruction Authority (NRA) under the Central Project Implementation Unit have agreed to return to…
June 28: The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19…
June 27: The imports of Nepal have increased immensely despite the coronavirus pandemic disrupting the overall production and supply chain.…
June 27: The price of chicken has surged in the market with the decline in production due to the lockdown imposed by the government to curb the spread of covid-19 and disease like…
June 27: The much-awaited national pride project, Upper Tamakoshi Hydropower Project, is all set to generate electricity within three…
June 27: The Insurance Board has formed a committee to study the reason behind dismal growth of micro insurance sector.…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 30: Finance Minister Bishnu Poudel has said that the phase of developing digital economy has begun in the country. </span><br /> <span style="font-family:"Arial Unicode MS"">Speaking at the 8th Anniversary of Media International on Tuesday, Minister Poudel shared that digital transaction was on the rise during COVID-19 pandemic and is expected to gradually lead the country towards the digital economy. </span><br /> <span style="font-family:"Arial Unicode MS"">He added that digital transaction will further help to make the economic system smart. Poudel said that making the economy vibrant was the need of the day and the government was effortful to develop entrepreneurship. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Poudel unveiled the logo of financial digitalization literacy. Similarly, Nepal Stock Exchange Board chairman Bhishmaraj Dhungana said that the latest technology was assisting to make the economy vibrant. </span><br /> <span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank’s Deputy Governor Bam Bahadur Mishra shared that the NRB was prioritizing digital transaction of late. --RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-06-30', 'modified' => '2021-06-30', 'keywords' => '', 'description' => '', 'sortorder' => '13353', 'image' => '20210630013245_20210530100611_budget_Finance Minister Paudel.jpg', 'article_date' => '2021-06-30 13:32:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13607', 'article_category_id' => '1', 'title' => 'Yoghurt worth Rs 190 Million Sold in a Day ', 'sub_title' => '', 'summary' => 'June 30: Yoghurt worth more than Rs 190 million has been sold across the country on Tuesday, June 29, 2021.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 30: Yoghurt worth more than Rs 190 million has been sold across the country on Tuesday, June 29, 2021. The single-day boost in sale was observed on the National Paddy Day, when people, especially the farmers, follow a tradition of having curd and beaten rice. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The Dairy Development Corporation, Nepal Dairy Association, Dairy Industry Association and other cooperatives have sold 1.67 million liters of yoghurt worth Rs 192.21 million in a single day. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the National Dairy Development Board, the Dairy Industry Association sold 700,000 liters of yoghurt worth Rs 85 million on Tuesday. Various cooperatives and other informal sectors across the country sold around 500,000 liters of yoghurt worth Rs 57.5 million. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Likewise, Nepal Dairy Association sold a total of 400,000 liters of yoghurt worth Rs 47 million, while DDC also sold 71,400 liters of yoghurt worth Rs 8.21 million. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Babu Kaji Pant, acting executive director of the Board, said that there was no significant sale of yoghurt on June 29 compared to the previous years. According to him, under normal circumstances, up to 2.5 million liters of yoghurt would be sold in the country on this day. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the board, the sale of yoghurt by the DDC has come down by 10 percent while that the private sector has also come down by about 35 percent due to the pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The market for dairy products has been gradually improving since the ban was lifted recently. Rudra Prasad Poudel, General Manager of the DDC, informed that the consumption of milk products has decreased as the areas that consume more dairy products such as hotels, restaurants and party palaces are closed due to the lockdown. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-30', 'modified' => '2021-06-30', 'keywords' => '', 'description' => '', 'sortorder' => '13352', 'image' => '20210630010501_My Effect.jpg', 'article_date' => '2021-06-30 13:04:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13606', 'article_category_id' => '1', 'title' => 'Hydropower Developers asked to Renew Survey License by mid-July', 'sub_title' => '', 'summary' => 'June 29: Projects involved in production, transmission and distribution of electricity have been told to renew their survey license by mid-July.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 29: Projects involved in production, transmission and distribution of electricity have been told to renew their survey license by mid-July. A recent ministerial-level meeting of the Ministry of Energy, Water Resources and Irrigation took a decision to this effect.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The District Administration Office, Kathmandu has relaxed the prohibitory order since June 22. Therefore, the ministry has said that the survey licenses of the projects should be renewed by mid-July.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the ministry, the promoters of the projects will have to apply to the Department of Electricity Development for the renewal of the survey license by mid-July along with the prescribed fee. The ministry said that the department will renew the survey license for a period of less than five years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government had imposed a complete lockdown in the country for four months from March 24, 2020 after the onset of the first wave of Covid-19. Since then, prohibitory orders have been enforced repeatedly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The prohibitory order has been imposed in various districts including Kathmandu Valley since April 29, 2021 after the second wave of coronavirus started taking massive toll on human lives. As a result, the projects with a survey license till March 23, 2020 have not been able to renew their licenses. Issuing a notice to the promoters on Sunday, the ministry has called for renewal of license as the ban has been lifted.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Spokesperson of the Ministry Madhu Prasad Bhetwal said that the projects should renew their survey licenses within the given period.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“Banks have also been shut down due to repeated lockdowns. As a result, the promoter companies were unable to pay the fees. But now that the ban has been lifted, the banks are also open,” he said, “This is the last chance for renewal. Therefore, the concerned projects will have to move ahead with the process of renewing the survey license within this period.” He further said that the additional fees may be charged if the renewal process is not done during this period.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13351', 'image' => '20210629033609_1624923335.Clipboard09.jpg', 'article_date' => '2021-06-29 15:35:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13604', 'article_category_id' => '1', 'title' => 'South Asia Must Reform Debt-Accumulating State-Owned Banks to Avert Next Financial Crisis', 'sub_title' => '', 'summary' => 'June 29: South Asia’s heavy reliance on state-owned commercial banks, state-owned enterprises, public-private partnerships and other national and sub-national public entities conceals its vulnerability to accumulating unsustainable levels of debt', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 29: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">South Asia’s heavy reliance on state-owned commercial banks, state-owned enterprises, public-private partnerships and other national and sub-national public entities conceals its vulnerability to accumulating unsustainable levels of debt, according to a new World Bank report, Hidden Debt: Solutions to Avert the Next Financial Crisis in South Asia, released on June 29.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the report, South Asia is more exposed to the risk of “hidden debt” from state-owned commercial banks (SOCBs), state-owned enterprises (SOEs) and public-private partnerships (PPPs) because of its greater reliance on them compared to other regions. But the report offers key areas for policy actions and concrete reforms that can help governments leverage public capital more responsibly through these types of entities to advance economic development, the World Bank said in a statement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “The COVID-19 pandemic has highlighted South Asia’s rising levels of public debt. The region is more exposed to the risk of hidden debt because it relies heavily on the governments’ involvement in markets to aid economic development,” the statement quoted Hartwig Schafer, World Bank’s Vice President for South Asia, as saying. “But the crisis demonstrates the critical importance of the judicious use of debt-financed public commitments and debt transparency to build back better, more sustainably, and more equitably.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Hidden Debt</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> studies the trade-offs between addressing development challenges directly through state presence in the markets and the risk of accumulating high levels of debt due to economic inefficiencies of off-balance sheet operations. It focuses on SOBCs, SOEs and PPPs and their contingent liabilities—obligations incurred by governments off their balance sheets that have triggers for payment. Over time, part of the debt is revealed as it hits the central government budget and debt stock, but a large part remains hidden under the radar of existing financial disclosure standards. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“The efficiency of South Asian state-owned banks and other state-owned enterprises is well below the international benchmark,”</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> said Hans Timmer, World Bank’s Chief Economist for South Asia. “As governments rebuild from the shock of the COVID-19 pandemic and strive to avert future financial crises, they should clearly separate the social and commercial objectives of these enterprises in order to reduce inefficiencies, while maintaining socially beneficial investments.” </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Governments often promise SOEs subsidies to run programs such as advancing access to electricity to underserved populations and small enterprises. SOCBs are asked to run government programs to promote financial inclusion or lend to under-served or riskier small and medium enterprises, often without compensation for losses that private markets avoid, the report stated. They are also asked to stimulate economies during downturns or financially support large PPPs that have concentrated risks. These hidden mandates are based on requests that are often made ad hoc and without consideration of risks or costs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “In episodes of systemic shock—such as the global financial crisis or the COVID-19 pandemic—when many banks experience distress simultaneously, private banks deleverage and curtail lending, while state-owned commercial banks receive capital and debt support from the state to continue or increase lending,” said Martin Melecky, World Bank Lead Economist and author of the report. “But this short-term stabilizing function comes at the cost of crowding out other social spending as public funds get spent on bank recapitalization and significant credit misallocation—away from successful firms and especially small and medium enterprises—making for an unequal recovery.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> The report estimates that a systemic macro-financial crisis can trigger PPP failures that would cost South Asian countries more than 4 percent of revenues, and the potential costs from distressed SOEs have been even more overwhelming. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13350', 'image' => '20210629031343_20191015114123_aaaa.jpg', 'article_date' => '2021-06-29 15:12:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13605', 'article_category_id' => '1', 'title' => 'FWEAN Organising 5th International Women’s Trade Expo Virtually', 'sub_title' => '', 'summary' => 'June 29: The Federation of Woman Entrepreneurs Associations of Nepal (FWEAN) is organizing the 5th International Women’s Trade Expo 2021 from September 2-6, 2021.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">June 29: The Federation of Woman Entrepreneurs Associations of Nepal (FWEAN) is organizing the 5th International Women’s Trade Expo 2021 from September 2-6, 2021. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">According to the FWEAN, the expo will be organised virtually in view of the COVID-19 pandemic. Issuing a statement, FEWAN said that the expo will showcase products of women entrepreneurs from all across Nepal as well. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">International Women Entrepreneurs will also participate as exhibitors, the statement added. The major objective of this expo is to promote products of Nepali women entrepreneurs, develop their market and increase their sales. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">The event is being supported by various donor organizations like Finn Church Aid (FCA), The Asia Foundation (TAF) and International Labor Organization (ILO).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">Products like handicrafts, natural fiber products, agro/food products, jewelry, herbal products, garments will be the main attraction, added FWEAN. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">The expo will have more than 300 virtual stalls and will be a hub for buying and selling products of women entrepreneurs both national and international, networking and also a meeting point for buyers and sellers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13349', 'image' => '20210629032206_FWEAN Virtual Expo Stall Booking Meeting-28-06-2021.jpg', 'article_date' => '2021-06-29 15:21:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13603', 'article_category_id' => '1', 'title' => 'Tourists’ Length of Stay in Nepal Increases in 2020', 'sub_title' => '', 'summary' => 'June 29: Although the number of tourists visiting Nepal reduced drastically in 2020, their length of stay has increased to some extent. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 29: Although the number of tourists visiting Nepal reduced drastically in 2020, their length of stay has increased to some extent. According to the government data, tourist arrivals shrunk to 230,000 in 2020 from more than 1 million a year ago, while their stay increased by 19 percent during the review period as compared to 2019.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The average stay of a tourist in Nepal is 12 days. In 2020, it increased by 19 percent and reached 15.1 days. According to Nepal Tourism Statistics-2020, the stay of tourists in Nepal has reached 15 days for the first time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Ministry of Culture, Tourism, and Civil Aviation on Monday released the Nepal Tourism Statistics-2020. According to the same statistics, the length of stay of tourists has increased.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The year 2019 marked the highest number of tourist arrival in Nepal with record of 1.197 million foreign visitors in Nepal. Despite the significant number of tourists, the average stay was just 12 days, as in previous years. However, the average length of stay of tourists has increased in 2020, even though the number of arrival has decreased due to coronavirus.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The ministry estimates that the length of tourists’ stay may have increased due to coronavirus in 2020. Most of the tourism-related activities were not open last year due to the outbreak of Covid-19 and lockdown. However, businessmen say that their length of stay has been extended this year as tourists have come to Nepal only for trekking and mountaineering. Even under normal circumstances, the stay of tourists for trekking and mountaineering is longer than average.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Vinayak Shah, vice-president of the Hotel Association of Nepal (HAN), argues that the number of foreigners who came to Nepal in 2020 was only for trekking and mountaineering. "The princes of Qatar and Bahrain have been staying for a long time," he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In 2020, foreign tourists came to Nepal for trekking and mountaineering while they were stopped from coming to Nepal for other activities.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He argues that the current stay period does not guarantee that the tourists’ length of stay will such long in the days to come. Entrepreneurs say that it is not fixed if this period will remain the same or decrease in the coming days.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the statistics, the purpose of visiting Nepal in 2020 has not changed. Foreign tourists come to Nepal for trekking, mountaineering, pilgrimage and holiday celebrations.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Out of them, 60.5 percent of the foreign tourists visiting Nepal this year are for holidays, 12.4 percent for adventure tourism like mountaineering and trekking and 15.6 percent for visiting religious places, and 11.5 percent for other activities.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13348', 'image' => '20210629020224_20210402034327_20210324020010_20200930115831_1601420205.89.jpg', 'article_date' => '2021-06-29 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13602', 'article_category_id' => '1', 'title' => 'Government Allocates Billions of Rupees for Various Employment Funds', 'sub_title' => '', 'summary' => 'June 29: The government is preparing to allocate billions of rupees to generate thousands of employment in the fiscal year 2021/22.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">June 29: The government is preparing to allocate billions of rupees to generate thousands of employment in the fiscal year 2021/22.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">At a time when the people’s livelihood has been severely affected by Covid-19 pandemic and people are having a difficult time to meet their daily needs, the government has prepared an action plan to allocate funds of billion rupees to the controversial Prime Minister Employment Program, Youth and Small Enterprise Self-Employment Fund and PM Agriculture Modernization Project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The Ministry of Labour, Employment and Social Security (MoLESS) informed that an action plan has already been prepared to implement these programs from July 16. The government is spending Rs 12 billion for the PM Employment Fund with an aim to generate 200,000 employments in the upcoming fiscal year. However, the previous experience shows ineffectiveness of the program which has drawn widespread criticism. The budget has to be spent in the construction of roads, building, river management, irrigation, planting trees in the local levels but funds are being allocated in the areas beyond this. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government is spending Rs 7.98 billion in the PM Agriculture Modernization Project to attract youth in agriculture, generate employment at the local level and prevent youth from migrating to foreign countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government aims to bring 71 zones into operation related to agriculture, fishery and livestock to generate employment opportunities. It aims to deploy students studying agriculture programs as interns in project areas to provide technical assistance to farmers and employ graduate students for a year on a contract basis. This program which is currently in operation has not been able to stop youth from migrating abroad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">To increase employment, the government has introduced a program to provide loans to startups at subsidized rates. To motivate young entrepreneurs to begin startup businesses, the government is providing loans up to Rs 2.5 million at one percent interest rate. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government has also announced to provide services like registration, renewal and other services of startup business free of cost through a one door system, facilitate in policy level to attract foreign investment in startup businesses and a challenge fund of one billion rupees will be set up.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">However, the modality of its implementation is not clear since the beginning. The program was included in the budgets of the current and previous fiscal years as well to encourage startup culture but was not implemented. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">In order to develop skilled manpower in accordance with the needs of the domestic industries, the government is also conducting workplace based training by providing a subsidy equal to three months minimum wage to the trainee workers in manufacturing and service industries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government aims to provide soft loans of up to Rs 2.5 million at five percent interest rate to students by keeping their academic certificates as collateral. This program has been in operation for many years but has not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government, which has scrapped the Poverty Alleviation Fund, is also creating employment through the Youth and Small Enterprises Self-Employment Fund. It has adopted a policy to make 12,000 youths self-employed by next year by providing loan facility along with technical and vocational skills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">To develop the skills of young people entering the labor market, workers returning from foreign employment and those who have lost their jobs at home, the government is investing Rs 400 million in handicraft, plumbing, electrical repair, electronics, cookery, artisan, carpentry, tailoring, beauticians, haircutting, vehicle and mobile maintenance skills. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Expert Dr Ganesh Gurung says that the implementation part of all these programs remain uncertain due to lack of coordination. He said that the government should not delay the implementation of such programs by making a clear action plan. However, Deepak Kafle, Joint Secretary of the MoLESS said such a situation would not arise as an action plan is being formulated and implemented for the effective implementation of these programs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><em><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">No study on impact of second wave of corona</span></span></em></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government has introduced various employment programs but lacks reliable data on the impact of COVID-19 on the labor market. Joint Secretary Deepak Kafle admitted that the ministry is yet to conduct a study on this issue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Last year, the National Planning Commission (NPC) had prepared a report after conducting a partial study in this regard. NPC had found that the first wave of COVID itself had led to a sharp rise in poverty. This study was also of preliminary nature and NPC has also not conducted a full-fledged study. Pushpa Raj Kandel, Vice Chairman of the NPC informed that a study to assess the impact of COVID in the labor market will begin from the end of this month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The central bank had also conducted a study on this issue and found the hotel and tourism sectors had been worst affected by the first wave of COVID-19 pandemic.</span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13347', 'image' => '20210629125101_20210504121005_20200909034726_1599602881.3.jpg', 'article_date' => '2021-06-29 12:50:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13601', 'article_category_id' => '1', 'title' => 'Prohibitory Order Further Extended with Relaxation', 'sub_title' => '', 'summary' => 'Government authorities have once again extended the Covid-19 prohibitory order in Kathmandu valley by a week, effective from June 29.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">June 28: Government authorities have once again extended the Covid-19 prohibitory order in Kathmandu valley by a week, effective from June 29. However, the authorities have eased the restrictions to some extent, bringing respite to the people.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">A meeting of the chief district officers of Kathmandu, Lalitpur, and Bhaktapur, on Monday (June 28) decided to allow grocery stores to operate till 6 pm every day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Similarly, departmental stores, shopping malls, cosmetic and gift shops, tailoring and clothing stores, jewelry shops, automobile showrooms, hardware and furniture shops among others will be allowed to operate from 11 am to 6 pm each day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">As per the decision, public vehicles with seating capacity of more than 25 passengers will now be allowed to operate in the valley from June 29. However, the vehicles will have to strictly follow the health protocol set by the government and operate under the odd-even rule. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Issuing a press statement, the District Administration Office, Kathmandu stated that public transport entrepreneurs are required to ensure the enforcement of public health protocols and physical distancing rule while operating their vehicles. This rule also applies to private vehicles, that have been operating since last week.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Vehicles will be allowed to operate between 6 am to 7 pm, inside the valley, according to the state-owned national news agency RSS.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Meanwhile, wedding ceremonies and family gatherings are allowed within the premises of the private house with no more than 15 attendants.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The meeting of the CDOs of the three districts of Kathmandu Valley had announced to ease the lockdown from June 29, taking into consideration the decline in Covid-19 cases in the valley .</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13346', 'image' => '20210628052619_20200601121121_lockdown.jpg', 'article_date' => '2021-06-28 17:25:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13600', 'article_category_id' => '1', 'title' => '200 kg of Gold Imported after Relaxation of Prohibitory Order ', 'sub_title' => '', 'summary' => 'June 28: Commercial banks have imported 200 kg of gold after the lockdown was eased. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 28: Commercial banks have imported 200 kg of gold after the lockdown was eased. Prior to this, the import of gold was completely halted. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Jewelry shops have been allowed to operate after the lockdown was eased on June 22. After that, Nepal Bankers Association imported gold upon the recommendation of the Federation of Nepal Gold and Silver Dealers Association,</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Mani Ratna Shakya, former president of the federation, informed that the 200 kg of gold was imported by the bankers’ association. “The association has already imported the gold and distributed it to the businessmen,” he said, adding, “100 kg of gold have been imported in Kathmandu valley this time while the other 100 kg have been imported to places outside the valley.” </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">District administration offices had imposed the ban in most of the districts across the country to contain the second wave of covid-19. The import of gold was halted from April 25. Shakya says that they have started importing gold after the ban was eased. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The federation had urged the banks not to import gold due to the high chances of lockdown. The banks have been given the authority to import gold in Nepal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the statistics of the Department of Customs, the import of gold from mid-May to mid-June was zero. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Altogether 3,018 kg of gold worth Rs 21.68 billion has been imported till May 14 this year. The data show that gold worth Rs 2.12 billion was imported from Turkey while the remaining gold worth Rs 18.94 billion was imported from the UAE. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The import of gold had also declined due to the lockdown imposed to control the first wave of covid-19. However, imports increased after the lockdown was lifted. Nevertheless, the import was affected again during the second phase of lockdown. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The import of gold was below average in April. Prior to April, gold worth Rs 2.14 billion was imported monthly on average. However, gold of only Rs 1.75 billion was imported in April. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13345', 'image' => '20210628023749_20201215120431_gold.jpg', 'article_date' => '2021-06-28 14:37:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13599', 'article_category_id' => '1', 'title' => 'Reconstruction Authority Engineers Agree to Return to Work', 'sub_title' => '', 'summary' => 'June 28: Engineers of the National Reconstruction Authority (NRA) under the Central Project Implementation Unit have agreed to return to work.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 28: Engineers of the National Reconstruction Authority (NRA) under the Central Project Implementation Unit have agreed to return to work. The engineers reached an understanding with the NRA after rounds of talks and discussions with NRA representatives on Saturday.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The engineers agreed to return to work after being assured to be provided with the communication, transportation, and local allowances. Likewise, NRA has assured them of providing necessary training to the technicians.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">After the discussion, Shyam Kishore Singh, Project Director of the Central Project Implementation Unit, and Avinash Amar signed the MoU on behalf of the two parties.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Amar expressed happiness over the fulfillment of all of their demands and pledged to work on all the technical works and show progress by mid-July, reads a statement of NRA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The agreement reached between the authority and the engineers is as follows:</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">1. The Central Project Implementation Unit will take initiative to provide insurance amount to the family of Raja Shah, who has been working under the District Planning Implementation Unit working under Okhaldhunga, if he dies during his tenure.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">2. Prepare a roster of the employees (including technicians, social workers) who have worked under the authority at different times and also put it in the online portal. Also, this roster will be sent by NRA to various concerned bodies for future reference.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">3. To provide communication expenses, transportation expenses, and local allowances to the technicians as per the rules from the month of Shrawan of the current Fiscal Year 2077/78.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">4. NRA will provide refresher training to the technicians working under NRA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">5. NRA will take initiative to give recognition to the technicians and include in the 10-year goal of Nepal Grand Campaign.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">6. All the movements of the technicians under NRA will be ended from June 26 and will return to regular work.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13344', 'image' => '20210628124301_tesXamd4TN210415090728.JPG', 'article_date' => '2021-06-28 12:42:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13598', 'article_category_id' => '1', 'title' => 'World Bank to Provide Concessional Loan of $150 Million to Support Nepal’s Resilient Recovery', 'sub_title' => '', 'summary' => 'June 28: The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.', 'content' => '<p><em>Photo Courtesy: World Bank Nepal</em></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">June 28: </span></span><span style="font-size:13.5pt"><span style="font-family:Helvetica"> The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the loan will be utilized to protect the most vulnerable, and support sustainable growth.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Finance Secretary Sishir Kumar Dhungana and the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos, signed the agreement to this effect, reads a statement issued by the World Bank.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“The project will help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">the statement quoted Finance Secretary Sishir Kumar Dhungana as saying. “The proposed budgetary support will be utilized in the physical infrastructural projects and economic recovery sectors as per the requirement and priorities of the Government of Nepal.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“This project will help the country achieve sustained growth during and after the COVID-19 pandemic that is inclusive, job-creating and environmentally sustainable,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">stated Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to support the government’s pandemic response to protect lives and stimulate economic recovery in Nepal.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13343', 'image' => '20210628075141_203762300_10157693663166467_996050178721294899_n.jpg', 'article_date' => '2021-06-28 07:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13596', 'article_category_id' => '1', 'title' => 'Fuel and Vehicles worth Rs 150 Billion Imported through Birgunj Customs ', 'sub_title' => '', 'summary' => 'June 27: The imports of Nepal have increased immensely despite the coronavirus pandemic disrupting the overall production and supply chain. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The imports of Nepal have increased immensely despite the coronavirus pandemic disrupting the overall production and supply chain. According to the import data for the 11 months of the current Fiscal Year (FY 2077/78) at Birgunj, the main customs point of the country, fuel and vehicle imports have increased more during the reveiw period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Birgunj Customs Office, fuel and vehicles worth Rs 141.14 billion have been imported between July to May this year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The country has incurred R. 11 billion more on fuel and vehicle imports this year compared to the review period of the last fiscal year 2076/77. Chief Customs Officer at the Birgunj Customs Office Harihar Poudel said that petroleum products worth Rs 113.75 billion and vehicles worth Rs 27.38 billion have been imported by the end of June this year. According to the customs office, 18 types of vehicles including jeeps, motorcycles, trucks, and buses have been imported through the checkpoint.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Petroleum products worth Rs 107.18 billion and vehicles worth Rs 23.42 billion were imported till May in the previous fiscal year. Fuel and vehicle imports accounted for about 31 percent of the total imports from Birgunj customs as of May this year. During this period, goods worth Rs 458 billion were imported through Birgunj Customs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government imposed a lockdown for about six months from March last year to stop the spread of Covid-19. Similarly, the government has issued prohibitory order since April 29 this year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Fuel and vehicle imports were expected to decline this year due to the ban. However, the import of vehicles has increased in the last month, said Poudel. Most of the diesel and aviation fuel enter through Birgunj. Poudel informed that most of the diesel comes from the Motihari-Amalekhgunj Petroleum Pipeline.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the customs office, 828,000 kiloliters of diesel worth Rs 50.40 billion has arrived through Birgunj in the first 11 months of the current fiscal year. During this period, 284,000 kiloliters of petrol and 122,000 kiloliters of aviation fuel have entered the country. According to the customs office, 15 types of petroleum products have entered Nepal through the Birgunj checkpoint.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13342', 'image' => '20210627024332_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-06-27 14:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13597', 'article_category_id' => '1', 'title' => 'Chicken Price Jumps as Production Declines', 'sub_title' => '', 'summary' => 'June 27: The price of chicken has surged in the market with the decline in production due to the lockdown imposed by the government to curb the spread of covid-19 and disease like Newcastle.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The price of chicken has surged in the market with the decline in production due to the lockdown imposed by the government to curb the spread of covid-19 and disease like Newcastle. The recent floods and landslides in various districts have also affected the production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Many farmers have stopped producing chicken due to the fear of not being able to sell the produced chicken while the Newcastle disease in different districts also created panic among them. Chicken traders say that the production has reduced due to the floods and landslides caused by continuous rain.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the stakeholders, about 30 percent of poultry farmers have sopped raising chickens due to the lockdown, Newcastle disease as well as floods and landslides.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to Tikaram Pokhrel, former president of the Nepal Hatchery Industries Association, the production of chicken has come down from 4.5 million to 3.1 million. He said that the farmers have stopped adding chicks after the roads in different districts were blocked due to floods and landslides.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The direct impact of decline in production is seen in the price of the chicken. According to the Meat Entrepreneurs Association of Nepal, the price of broiler chicken has gone up by Rs 40 to Rs 290 per kg from Rs 330 per kg. In the retail market, the price is up to Rs 350.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Jung Bahadur BC, president of the association, says that if the production is not improved, the price of meat may increase further.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He informed that the consumption of meat has also increased as the ban has been eased to some extent. “The consumption of meat in the Kathmandu Valley was only 20 percent at the time of the ban, but it has increased to 40 percent now,” he says. Under normal circumstances, about 500,000 kg of meat is consumed daily in Kathmandu Valley.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The increase in the price of grains and medicines for feeding chicken has also affected the production. The price of soybean that is used for making chicken feed has increased from Rs 75 to Rs 88 per kg, while the price of maize has also increased from Rs 26 to Rs 32 per kg.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13341', 'image' => '20210627030211_20160613051853_20160613104208_Clipboard05.jpg', 'article_date' => '2021-06-27 15:01:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13595', 'article_category_id' => '1', 'title' => 'Upper Tamakoshi Hydropower Project to Come into Operation within July 15 ', 'sub_title' => '', 'summary' => 'June 27: The much-awaited national pride project, Upper Tamakoshi Hydropower Project, is all set to generate electricity within three weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 27: The much-awaited national pride project, Upper Tamakoshi Hydropower Project, is all set to generate electricity within three weeks. According to the national news agency (RSS), it will start generating 152 megawatts electricity from July 15. </span><br /> <span style="font-family:"Arial Unicode MS"">Necessary preparations have reached the final stage for producing electricity from two units of the project within July 15, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">Project spokesperson Dr Ganesh Neupane said the trial run of the first unit has been conducted in the first phase and works are on for conducting the test run of the second unit. The project would be connected to the national grid after completing the works of the second unit. </span><br /> <span style="font-family:"Arial Unicode MS"">The 456-megawatt project is near completion almost 10 years after its construction was started. The project with largest domestic investment has reached the final phase of completion despite grappling with natural disasters and various other technical issues. </span><br /> <span style="font-family:"Arial Unicode MS"">Neupane said that necessary preparations are being done from June 27 to July 3 for feeding the electricity produced from the project to the national grid. According to him, works of managing the transmission line of the project have been forwarded. </span><br /> <span style="font-family:"Arial Unicode MS"">The 220-KV transmission line carrying power from the powerhouse of the Upper Tamakoshi Project is being connected to the sub-station located at New Khimti. </span><br /> <span style="font-family:"Arial Unicode MS"">Before this, preparations were made to connect the transmission line from this project to the Dhalkebar sub-station. </span><br /> <span style="font-family:"Arial Unicode MS"">The success of this project has raised hopes that other big projects could also be constructed with domestic investment. </span><br /> <span style="font-family:"Arial Unicode MS"">Although the initial cost of the project was estimated to be Rs 35 billion, it has now reached around Rs 80 billion in 10 years due to the increase in foreign exchange rate of the US Dollar and the interest rate, among other factors. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13340', 'image' => '20210627123145_20201206012152_1607211371.Clipboard13.jpg', 'article_date' => '2021-06-27 12:31:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13594', 'article_category_id' => '1', 'title' => 'Insurance Board Conducting Study to Expand Micro Insurance Sector', 'sub_title' => '', 'summary' => 'June 27: The Insurance Board has formed a committee to study the reason behind dismal growth of micro insurance sector. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The Insurance Board has formed a committee to study the reason behind dismal growth of micro insurance sector. The board has formed a four-member committee under the coordination of Sushil Dev Subedi, the director of the board. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Members of the committee include Punam Gywali, Deputy Director of the board, Chanki Chhetri, CEO of Sagarmatha Insurance and Poshakraj Poudel, CEO of Citizens Life Insurance Company. The committee has already started its study into the issue and will be submitting a report after the completion of the study in twenty days. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Raju Raman Poudel, Managing Director of the board, said that micro insurance has not been able to expand its business so a study committee has been formed to study this matter. The committee will study into the issues that are preventing the growth of the micro insurance sector and find out the mechanism to be adopted to expand its growth. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">At present, micro insurance services are accessible to 23 percent of the population. The government wants to increase its access to 33 percent of the population. To achieve the target, the board has been working on various issues. In this regard, the board has come up with the committee to figure out strategies to expand the micro insurance sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"If the business of micro insurance could be expanded, it helps to increase access to insurance. So study is being conducted with an objective to expand people's reach to insurance," he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">However there is not any intention to award licenses to micro insurance companies. "The study is not intended to provide license to micro insurance company. If the study implies a need for a separate company, it will be established but the board has not given any consideration to it as yet," said Poudel. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13339', 'image' => '20210627122025_20200417105653_Beema-Samiti.jpg', 'article_date' => '2021-06-27 12:19:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 30: Finance Minister Bishnu Poudel has said that the phase of developing digital economy has begun in the country. </span><br /> <span style="font-family:"Arial Unicode MS"">Speaking at the 8th Anniversary of Media International on Tuesday, Minister Poudel shared that digital transaction was on the rise during COVID-19 pandemic and is expected to gradually lead the country towards the digital economy. </span><br /> <span style="font-family:"Arial Unicode MS"">He added that digital transaction will further help to make the economic system smart. Poudel said that making the economy vibrant was the need of the day and the government was effortful to develop entrepreneurship. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Poudel unveiled the logo of financial digitalization literacy. Similarly, Nepal Stock Exchange Board chairman Bhishmaraj Dhungana said that the latest technology was assisting to make the economy vibrant. </span><br /> <span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank’s Deputy Governor Bam Bahadur Mishra shared that the NRB was prioritizing digital transaction of late. --RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-06-30', 'modified' => '2021-06-30', 'keywords' => '', 'description' => '', 'sortorder' => '13353', 'image' => '20210630013245_20210530100611_budget_Finance Minister Paudel.jpg', 'article_date' => '2021-06-30 13:32:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13607', 'article_category_id' => '1', 'title' => 'Yoghurt worth Rs 190 Million Sold in a Day ', 'sub_title' => '', 'summary' => 'June 30: Yoghurt worth more than Rs 190 million has been sold across the country on Tuesday, June 29, 2021.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 30: Yoghurt worth more than Rs 190 million has been sold across the country on Tuesday, June 29, 2021. The single-day boost in sale was observed on the National Paddy Day, when people, especially the farmers, follow a tradition of having curd and beaten rice. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The Dairy Development Corporation, Nepal Dairy Association, Dairy Industry Association and other cooperatives have sold 1.67 million liters of yoghurt worth Rs 192.21 million in a single day. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the National Dairy Development Board, the Dairy Industry Association sold 700,000 liters of yoghurt worth Rs 85 million on Tuesday. Various cooperatives and other informal sectors across the country sold around 500,000 liters of yoghurt worth Rs 57.5 million. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Likewise, Nepal Dairy Association sold a total of 400,000 liters of yoghurt worth Rs 47 million, while DDC also sold 71,400 liters of yoghurt worth Rs 8.21 million. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Babu Kaji Pant, acting executive director of the Board, said that there was no significant sale of yoghurt on June 29 compared to the previous years. According to him, under normal circumstances, up to 2.5 million liters of yoghurt would be sold in the country on this day. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the board, the sale of yoghurt by the DDC has come down by 10 percent while that the private sector has also come down by about 35 percent due to the pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The market for dairy products has been gradually improving since the ban was lifted recently. Rudra Prasad Poudel, General Manager of the DDC, informed that the consumption of milk products has decreased as the areas that consume more dairy products such as hotels, restaurants and party palaces are closed due to the lockdown. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-30', 'modified' => '2021-06-30', 'keywords' => '', 'description' => '', 'sortorder' => '13352', 'image' => '20210630010501_My Effect.jpg', 'article_date' => '2021-06-30 13:04:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13606', 'article_category_id' => '1', 'title' => 'Hydropower Developers asked to Renew Survey License by mid-July', 'sub_title' => '', 'summary' => 'June 29: Projects involved in production, transmission and distribution of electricity have been told to renew their survey license by mid-July.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 29: Projects involved in production, transmission and distribution of electricity have been told to renew their survey license by mid-July. A recent ministerial-level meeting of the Ministry of Energy, Water Resources and Irrigation took a decision to this effect.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The District Administration Office, Kathmandu has relaxed the prohibitory order since June 22. Therefore, the ministry has said that the survey licenses of the projects should be renewed by mid-July.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the ministry, the promoters of the projects will have to apply to the Department of Electricity Development for the renewal of the survey license by mid-July along with the prescribed fee. The ministry said that the department will renew the survey license for a period of less than five years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government had imposed a complete lockdown in the country for four months from March 24, 2020 after the onset of the first wave of Covid-19. Since then, prohibitory orders have been enforced repeatedly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The prohibitory order has been imposed in various districts including Kathmandu Valley since April 29, 2021 after the second wave of coronavirus started taking massive toll on human lives. As a result, the projects with a survey license till March 23, 2020 have not been able to renew their licenses. Issuing a notice to the promoters on Sunday, the ministry has called for renewal of license as the ban has been lifted.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Spokesperson of the Ministry Madhu Prasad Bhetwal said that the projects should renew their survey licenses within the given period.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“Banks have also been shut down due to repeated lockdowns. As a result, the promoter companies were unable to pay the fees. But now that the ban has been lifted, the banks are also open,” he said, “This is the last chance for renewal. Therefore, the concerned projects will have to move ahead with the process of renewing the survey license within this period.” He further said that the additional fees may be charged if the renewal process is not done during this period.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13351', 'image' => '20210629033609_1624923335.Clipboard09.jpg', 'article_date' => '2021-06-29 15:35:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13604', 'article_category_id' => '1', 'title' => 'South Asia Must Reform Debt-Accumulating State-Owned Banks to Avert Next Financial Crisis', 'sub_title' => '', 'summary' => 'June 29: South Asia’s heavy reliance on state-owned commercial banks, state-owned enterprises, public-private partnerships and other national and sub-national public entities conceals its vulnerability to accumulating unsustainable levels of debt', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 29: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">South Asia’s heavy reliance on state-owned commercial banks, state-owned enterprises, public-private partnerships and other national and sub-national public entities conceals its vulnerability to accumulating unsustainable levels of debt, according to a new World Bank report, Hidden Debt: Solutions to Avert the Next Financial Crisis in South Asia, released on June 29.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the report, South Asia is more exposed to the risk of “hidden debt” from state-owned commercial banks (SOCBs), state-owned enterprises (SOEs) and public-private partnerships (PPPs) because of its greater reliance on them compared to other regions. But the report offers key areas for policy actions and concrete reforms that can help governments leverage public capital more responsibly through these types of entities to advance economic development, the World Bank said in a statement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “The COVID-19 pandemic has highlighted South Asia’s rising levels of public debt. The region is more exposed to the risk of hidden debt because it relies heavily on the governments’ involvement in markets to aid economic development,” the statement quoted Hartwig Schafer, World Bank’s Vice President for South Asia, as saying. “But the crisis demonstrates the critical importance of the judicious use of debt-financed public commitments and debt transparency to build back better, more sustainably, and more equitably.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Hidden Debt</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> studies the trade-offs between addressing development challenges directly through state presence in the markets and the risk of accumulating high levels of debt due to economic inefficiencies of off-balance sheet operations. It focuses on SOBCs, SOEs and PPPs and their contingent liabilities—obligations incurred by governments off their balance sheets that have triggers for payment. Over time, part of the debt is revealed as it hits the central government budget and debt stock, but a large part remains hidden under the radar of existing financial disclosure standards. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“The efficiency of South Asian state-owned banks and other state-owned enterprises is well below the international benchmark,”</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> said Hans Timmer, World Bank’s Chief Economist for South Asia. “As governments rebuild from the shock of the COVID-19 pandemic and strive to avert future financial crises, they should clearly separate the social and commercial objectives of these enterprises in order to reduce inefficiencies, while maintaining socially beneficial investments.” </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Governments often promise SOEs subsidies to run programs such as advancing access to electricity to underserved populations and small enterprises. SOCBs are asked to run government programs to promote financial inclusion or lend to under-served or riskier small and medium enterprises, often without compensation for losses that private markets avoid, the report stated. They are also asked to stimulate economies during downturns or financially support large PPPs that have concentrated risks. These hidden mandates are based on requests that are often made ad hoc and without consideration of risks or costs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “In episodes of systemic shock—such as the global financial crisis or the COVID-19 pandemic—when many banks experience distress simultaneously, private banks deleverage and curtail lending, while state-owned commercial banks receive capital and debt support from the state to continue or increase lending,” said Martin Melecky, World Bank Lead Economist and author of the report. “But this short-term stabilizing function comes at the cost of crowding out other social spending as public funds get spent on bank recapitalization and significant credit misallocation—away from successful firms and especially small and medium enterprises—making for an unequal recovery.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> The report estimates that a systemic macro-financial crisis can trigger PPP failures that would cost South Asian countries more than 4 percent of revenues, and the potential costs from distressed SOEs have been even more overwhelming. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13350', 'image' => '20210629031343_20191015114123_aaaa.jpg', 'article_date' => '2021-06-29 15:12:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13605', 'article_category_id' => '1', 'title' => 'FWEAN Organising 5th International Women’s Trade Expo Virtually', 'sub_title' => '', 'summary' => 'June 29: The Federation of Woman Entrepreneurs Associations of Nepal (FWEAN) is organizing the 5th International Women’s Trade Expo 2021 from September 2-6, 2021.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">June 29: The Federation of Woman Entrepreneurs Associations of Nepal (FWEAN) is organizing the 5th International Women’s Trade Expo 2021 from September 2-6, 2021. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">According to the FWEAN, the expo will be organised virtually in view of the COVID-19 pandemic. Issuing a statement, FEWAN said that the expo will showcase products of women entrepreneurs from all across Nepal as well. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">International Women Entrepreneurs will also participate as exhibitors, the statement added. The major objective of this expo is to promote products of Nepali women entrepreneurs, develop their market and increase their sales. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">The event is being supported by various donor organizations like Finn Church Aid (FCA), The Asia Foundation (TAF) and International Labor Organization (ILO).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">Products like handicrafts, natural fiber products, agro/food products, jewelry, herbal products, garments will be the main attraction, added FWEAN. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">The expo will have more than 300 virtual stalls and will be a hub for buying and selling products of women entrepreneurs both national and international, networking and also a meeting point for buyers and sellers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13349', 'image' => '20210629032206_FWEAN Virtual Expo Stall Booking Meeting-28-06-2021.jpg', 'article_date' => '2021-06-29 15:21:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13603', 'article_category_id' => '1', 'title' => 'Tourists’ Length of Stay in Nepal Increases in 2020', 'sub_title' => '', 'summary' => 'June 29: Although the number of tourists visiting Nepal reduced drastically in 2020, their length of stay has increased to some extent. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 29: Although the number of tourists visiting Nepal reduced drastically in 2020, their length of stay has increased to some extent. According to the government data, tourist arrivals shrunk to 230,000 in 2020 from more than 1 million a year ago, while their stay increased by 19 percent during the review period as compared to 2019.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The average stay of a tourist in Nepal is 12 days. In 2020, it increased by 19 percent and reached 15.1 days. According to Nepal Tourism Statistics-2020, the stay of tourists in Nepal has reached 15 days for the first time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Ministry of Culture, Tourism, and Civil Aviation on Monday released the Nepal Tourism Statistics-2020. According to the same statistics, the length of stay of tourists has increased.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The year 2019 marked the highest number of tourist arrival in Nepal with record of 1.197 million foreign visitors in Nepal. Despite the significant number of tourists, the average stay was just 12 days, as in previous years. However, the average length of stay of tourists has increased in 2020, even though the number of arrival has decreased due to coronavirus.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The ministry estimates that the length of tourists’ stay may have increased due to coronavirus in 2020. Most of the tourism-related activities were not open last year due to the outbreak of Covid-19 and lockdown. However, businessmen say that their length of stay has been extended this year as tourists have come to Nepal only for trekking and mountaineering. Even under normal circumstances, the stay of tourists for trekking and mountaineering is longer than average.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Vinayak Shah, vice-president of the Hotel Association of Nepal (HAN), argues that the number of foreigners who came to Nepal in 2020 was only for trekking and mountaineering. "The princes of Qatar and Bahrain have been staying for a long time," he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In 2020, foreign tourists came to Nepal for trekking and mountaineering while they were stopped from coming to Nepal for other activities.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He argues that the current stay period does not guarantee that the tourists’ length of stay will such long in the days to come. Entrepreneurs say that it is not fixed if this period will remain the same or decrease in the coming days.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the statistics, the purpose of visiting Nepal in 2020 has not changed. Foreign tourists come to Nepal for trekking, mountaineering, pilgrimage and holiday celebrations.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Out of them, 60.5 percent of the foreign tourists visiting Nepal this year are for holidays, 12.4 percent for adventure tourism like mountaineering and trekking and 15.6 percent for visiting religious places, and 11.5 percent for other activities.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13348', 'image' => '20210629020224_20210402034327_20210324020010_20200930115831_1601420205.89.jpg', 'article_date' => '2021-06-29 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13602', 'article_category_id' => '1', 'title' => 'Government Allocates Billions of Rupees for Various Employment Funds', 'sub_title' => '', 'summary' => 'June 29: The government is preparing to allocate billions of rupees to generate thousands of employment in the fiscal year 2021/22.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">June 29: The government is preparing to allocate billions of rupees to generate thousands of employment in the fiscal year 2021/22.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">At a time when the people’s livelihood has been severely affected by Covid-19 pandemic and people are having a difficult time to meet their daily needs, the government has prepared an action plan to allocate funds of billion rupees to the controversial Prime Minister Employment Program, Youth and Small Enterprise Self-Employment Fund and PM Agriculture Modernization Project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The Ministry of Labour, Employment and Social Security (MoLESS) informed that an action plan has already been prepared to implement these programs from July 16. The government is spending Rs 12 billion for the PM Employment Fund with an aim to generate 200,000 employments in the upcoming fiscal year. However, the previous experience shows ineffectiveness of the program which has drawn widespread criticism. The budget has to be spent in the construction of roads, building, river management, irrigation, planting trees in the local levels but funds are being allocated in the areas beyond this. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government is spending Rs 7.98 billion in the PM Agriculture Modernization Project to attract youth in agriculture, generate employment at the local level and prevent youth from migrating to foreign countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government aims to bring 71 zones into operation related to agriculture, fishery and livestock to generate employment opportunities. It aims to deploy students studying agriculture programs as interns in project areas to provide technical assistance to farmers and employ graduate students for a year on a contract basis. This program which is currently in operation has not been able to stop youth from migrating abroad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">To increase employment, the government has introduced a program to provide loans to startups at subsidized rates. To motivate young entrepreneurs to begin startup businesses, the government is providing loans up to Rs 2.5 million at one percent interest rate. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government has also announced to provide services like registration, renewal and other services of startup business free of cost through a one door system, facilitate in policy level to attract foreign investment in startup businesses and a challenge fund of one billion rupees will be set up.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">However, the modality of its implementation is not clear since the beginning. The program was included in the budgets of the current and previous fiscal years as well to encourage startup culture but was not implemented. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">In order to develop skilled manpower in accordance with the needs of the domestic industries, the government is also conducting workplace based training by providing a subsidy equal to three months minimum wage to the trainee workers in manufacturing and service industries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government aims to provide soft loans of up to Rs 2.5 million at five percent interest rate to students by keeping their academic certificates as collateral. This program has been in operation for many years but has not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government, which has scrapped the Poverty Alleviation Fund, is also creating employment through the Youth and Small Enterprises Self-Employment Fund. It has adopted a policy to make 12,000 youths self-employed by next year by providing loan facility along with technical and vocational skills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">To develop the skills of young people entering the labor market, workers returning from foreign employment and those who have lost their jobs at home, the government is investing Rs 400 million in handicraft, plumbing, electrical repair, electronics, cookery, artisan, carpentry, tailoring, beauticians, haircutting, vehicle and mobile maintenance skills. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Expert Dr Ganesh Gurung says that the implementation part of all these programs remain uncertain due to lack of coordination. He said that the government should not delay the implementation of such programs by making a clear action plan. However, Deepak Kafle, Joint Secretary of the MoLESS said such a situation would not arise as an action plan is being formulated and implemented for the effective implementation of these programs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><em><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">No study on impact of second wave of corona</span></span></em></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government has introduced various employment programs but lacks reliable data on the impact of COVID-19 on the labor market. Joint Secretary Deepak Kafle admitted that the ministry is yet to conduct a study on this issue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Last year, the National Planning Commission (NPC) had prepared a report after conducting a partial study in this regard. NPC had found that the first wave of COVID itself had led to a sharp rise in poverty. This study was also of preliminary nature and NPC has also not conducted a full-fledged study. Pushpa Raj Kandel, Vice Chairman of the NPC informed that a study to assess the impact of COVID in the labor market will begin from the end of this month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The central bank had also conducted a study on this issue and found the hotel and tourism sectors had been worst affected by the first wave of COVID-19 pandemic.</span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13347', 'image' => '20210629125101_20210504121005_20200909034726_1599602881.3.jpg', 'article_date' => '2021-06-29 12:50:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13601', 'article_category_id' => '1', 'title' => 'Prohibitory Order Further Extended with Relaxation', 'sub_title' => '', 'summary' => 'Government authorities have once again extended the Covid-19 prohibitory order in Kathmandu valley by a week, effective from June 29.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">June 28: Government authorities have once again extended the Covid-19 prohibitory order in Kathmandu valley by a week, effective from June 29. However, the authorities have eased the restrictions to some extent, bringing respite to the people.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">A meeting of the chief district officers of Kathmandu, Lalitpur, and Bhaktapur, on Monday (June 28) decided to allow grocery stores to operate till 6 pm every day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Similarly, departmental stores, shopping malls, cosmetic and gift shops, tailoring and clothing stores, jewelry shops, automobile showrooms, hardware and furniture shops among others will be allowed to operate from 11 am to 6 pm each day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">As per the decision, public vehicles with seating capacity of more than 25 passengers will now be allowed to operate in the valley from June 29. However, the vehicles will have to strictly follow the health protocol set by the government and operate under the odd-even rule. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Issuing a press statement, the District Administration Office, Kathmandu stated that public transport entrepreneurs are required to ensure the enforcement of public health protocols and physical distancing rule while operating their vehicles. This rule also applies to private vehicles, that have been operating since last week.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Vehicles will be allowed to operate between 6 am to 7 pm, inside the valley, according to the state-owned national news agency RSS.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Meanwhile, wedding ceremonies and family gatherings are allowed within the premises of the private house with no more than 15 attendants.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The meeting of the CDOs of the three districts of Kathmandu Valley had announced to ease the lockdown from June 29, taking into consideration the decline in Covid-19 cases in the valley .</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13346', 'image' => '20210628052619_20200601121121_lockdown.jpg', 'article_date' => '2021-06-28 17:25:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13600', 'article_category_id' => '1', 'title' => '200 kg of Gold Imported after Relaxation of Prohibitory Order ', 'sub_title' => '', 'summary' => 'June 28: Commercial banks have imported 200 kg of gold after the lockdown was eased. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 28: Commercial banks have imported 200 kg of gold after the lockdown was eased. Prior to this, the import of gold was completely halted. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Jewelry shops have been allowed to operate after the lockdown was eased on June 22. After that, Nepal Bankers Association imported gold upon the recommendation of the Federation of Nepal Gold and Silver Dealers Association,</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Mani Ratna Shakya, former president of the federation, informed that the 200 kg of gold was imported by the bankers’ association. “The association has already imported the gold and distributed it to the businessmen,” he said, adding, “100 kg of gold have been imported in Kathmandu valley this time while the other 100 kg have been imported to places outside the valley.” </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">District administration offices had imposed the ban in most of the districts across the country to contain the second wave of covid-19. The import of gold was halted from April 25. Shakya says that they have started importing gold after the ban was eased. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The federation had urged the banks not to import gold due to the high chances of lockdown. The banks have been given the authority to import gold in Nepal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the statistics of the Department of Customs, the import of gold from mid-May to mid-June was zero. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Altogether 3,018 kg of gold worth Rs 21.68 billion has been imported till May 14 this year. The data show that gold worth Rs 2.12 billion was imported from Turkey while the remaining gold worth Rs 18.94 billion was imported from the UAE. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The import of gold had also declined due to the lockdown imposed to control the first wave of covid-19. However, imports increased after the lockdown was lifted. Nevertheless, the import was affected again during the second phase of lockdown. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The import of gold was below average in April. Prior to April, gold worth Rs 2.14 billion was imported monthly on average. However, gold of only Rs 1.75 billion was imported in April. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13345', 'image' => '20210628023749_20201215120431_gold.jpg', 'article_date' => '2021-06-28 14:37:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13599', 'article_category_id' => '1', 'title' => 'Reconstruction Authority Engineers Agree to Return to Work', 'sub_title' => '', 'summary' => 'June 28: Engineers of the National Reconstruction Authority (NRA) under the Central Project Implementation Unit have agreed to return to work.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 28: Engineers of the National Reconstruction Authority (NRA) under the Central Project Implementation Unit have agreed to return to work. The engineers reached an understanding with the NRA after rounds of talks and discussions with NRA representatives on Saturday.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The engineers agreed to return to work after being assured to be provided with the communication, transportation, and local allowances. Likewise, NRA has assured them of providing necessary training to the technicians.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">After the discussion, Shyam Kishore Singh, Project Director of the Central Project Implementation Unit, and Avinash Amar signed the MoU on behalf of the two parties.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Amar expressed happiness over the fulfillment of all of their demands and pledged to work on all the technical works and show progress by mid-July, reads a statement of NRA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The agreement reached between the authority and the engineers is as follows:</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">1. The Central Project Implementation Unit will take initiative to provide insurance amount to the family of Raja Shah, who has been working under the District Planning Implementation Unit working under Okhaldhunga, if he dies during his tenure.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">2. Prepare a roster of the employees (including technicians, social workers) who have worked under the authority at different times and also put it in the online portal. Also, this roster will be sent by NRA to various concerned bodies for future reference.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">3. To provide communication expenses, transportation expenses, and local allowances to the technicians as per the rules from the month of Shrawan of the current Fiscal Year 2077/78.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">4. NRA will provide refresher training to the technicians working under NRA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">5. NRA will take initiative to give recognition to the technicians and include in the 10-year goal of Nepal Grand Campaign.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">6. All the movements of the technicians under NRA will be ended from June 26 and will return to regular work.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13344', 'image' => '20210628124301_tesXamd4TN210415090728.JPG', 'article_date' => '2021-06-28 12:42:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13598', 'article_category_id' => '1', 'title' => 'World Bank to Provide Concessional Loan of $150 Million to Support Nepal’s Resilient Recovery', 'sub_title' => '', 'summary' => 'June 28: The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.', 'content' => '<p><em>Photo Courtesy: World Bank Nepal</em></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">June 28: </span></span><span style="font-size:13.5pt"><span style="font-family:Helvetica"> The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the loan will be utilized to protect the most vulnerable, and support sustainable growth.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Finance Secretary Sishir Kumar Dhungana and the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos, signed the agreement to this effect, reads a statement issued by the World Bank.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“The project will help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">the statement quoted Finance Secretary Sishir Kumar Dhungana as saying. “The proposed budgetary support will be utilized in the physical infrastructural projects and economic recovery sectors as per the requirement and priorities of the Government of Nepal.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“This project will help the country achieve sustained growth during and after the COVID-19 pandemic that is inclusive, job-creating and environmentally sustainable,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">stated Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to support the government’s pandemic response to protect lives and stimulate economic recovery in Nepal.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13343', 'image' => '20210628075141_203762300_10157693663166467_996050178721294899_n.jpg', 'article_date' => '2021-06-28 07:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13596', 'article_category_id' => '1', 'title' => 'Fuel and Vehicles worth Rs 150 Billion Imported through Birgunj Customs ', 'sub_title' => '', 'summary' => 'June 27: The imports of Nepal have increased immensely despite the coronavirus pandemic disrupting the overall production and supply chain. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The imports of Nepal have increased immensely despite the coronavirus pandemic disrupting the overall production and supply chain. According to the import data for the 11 months of the current Fiscal Year (FY 2077/78) at Birgunj, the main customs point of the country, fuel and vehicle imports have increased more during the reveiw period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Birgunj Customs Office, fuel and vehicles worth Rs 141.14 billion have been imported between July to May this year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The country has incurred R. 11 billion more on fuel and vehicle imports this year compared to the review period of the last fiscal year 2076/77. Chief Customs Officer at the Birgunj Customs Office Harihar Poudel said that petroleum products worth Rs 113.75 billion and vehicles worth Rs 27.38 billion have been imported by the end of June this year. According to the customs office, 18 types of vehicles including jeeps, motorcycles, trucks, and buses have been imported through the checkpoint.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Petroleum products worth Rs 107.18 billion and vehicles worth Rs 23.42 billion were imported till May in the previous fiscal year. Fuel and vehicle imports accounted for about 31 percent of the total imports from Birgunj customs as of May this year. During this period, goods worth Rs 458 billion were imported through Birgunj Customs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government imposed a lockdown for about six months from March last year to stop the spread of Covid-19. Similarly, the government has issued prohibitory order since April 29 this year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Fuel and vehicle imports were expected to decline this year due to the ban. However, the import of vehicles has increased in the last month, said Poudel. Most of the diesel and aviation fuel enter through Birgunj. Poudel informed that most of the diesel comes from the Motihari-Amalekhgunj Petroleum Pipeline.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the customs office, 828,000 kiloliters of diesel worth Rs 50.40 billion has arrived through Birgunj in the first 11 months of the current fiscal year. During this period, 284,000 kiloliters of petrol and 122,000 kiloliters of aviation fuel have entered the country. According to the customs office, 15 types of petroleum products have entered Nepal through the Birgunj checkpoint.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13342', 'image' => '20210627024332_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-06-27 14:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13597', 'article_category_id' => '1', 'title' => 'Chicken Price Jumps as Production Declines', 'sub_title' => '', 'summary' => 'June 27: The price of chicken has surged in the market with the decline in production due to the lockdown imposed by the government to curb the spread of covid-19 and disease like Newcastle.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The price of chicken has surged in the market with the decline in production due to the lockdown imposed by the government to curb the spread of covid-19 and disease like Newcastle. The recent floods and landslides in various districts have also affected the production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Many farmers have stopped producing chicken due to the fear of not being able to sell the produced chicken while the Newcastle disease in different districts also created panic among them. Chicken traders say that the production has reduced due to the floods and landslides caused by continuous rain.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the stakeholders, about 30 percent of poultry farmers have sopped raising chickens due to the lockdown, Newcastle disease as well as floods and landslides.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to Tikaram Pokhrel, former president of the Nepal Hatchery Industries Association, the production of chicken has come down from 4.5 million to 3.1 million. He said that the farmers have stopped adding chicks after the roads in different districts were blocked due to floods and landslides.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The direct impact of decline in production is seen in the price of the chicken. According to the Meat Entrepreneurs Association of Nepal, the price of broiler chicken has gone up by Rs 40 to Rs 290 per kg from Rs 330 per kg. In the retail market, the price is up to Rs 350.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Jung Bahadur BC, president of the association, says that if the production is not improved, the price of meat may increase further.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He informed that the consumption of meat has also increased as the ban has been eased to some extent. “The consumption of meat in the Kathmandu Valley was only 20 percent at the time of the ban, but it has increased to 40 percent now,” he says. Under normal circumstances, about 500,000 kg of meat is consumed daily in Kathmandu Valley.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The increase in the price of grains and medicines for feeding chicken has also affected the production. The price of soybean that is used for making chicken feed has increased from Rs 75 to Rs 88 per kg, while the price of maize has also increased from Rs 26 to Rs 32 per kg.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13341', 'image' => '20210627030211_20160613051853_20160613104208_Clipboard05.jpg', 'article_date' => '2021-06-27 15:01:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13595', 'article_category_id' => '1', 'title' => 'Upper Tamakoshi Hydropower Project to Come into Operation within July 15 ', 'sub_title' => '', 'summary' => 'June 27: The much-awaited national pride project, Upper Tamakoshi Hydropower Project, is all set to generate electricity within three weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 27: The much-awaited national pride project, Upper Tamakoshi Hydropower Project, is all set to generate electricity within three weeks. According to the national news agency (RSS), it will start generating 152 megawatts electricity from July 15. </span><br /> <span style="font-family:"Arial Unicode MS"">Necessary preparations have reached the final stage for producing electricity from two units of the project within July 15, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">Project spokesperson Dr Ganesh Neupane said the trial run of the first unit has been conducted in the first phase and works are on for conducting the test run of the second unit. The project would be connected to the national grid after completing the works of the second unit. </span><br /> <span style="font-family:"Arial Unicode MS"">The 456-megawatt project is near completion almost 10 years after its construction was started. The project with largest domestic investment has reached the final phase of completion despite grappling with natural disasters and various other technical issues. </span><br /> <span style="font-family:"Arial Unicode MS"">Neupane said that necessary preparations are being done from June 27 to July 3 for feeding the electricity produced from the project to the national grid. According to him, works of managing the transmission line of the project have been forwarded. </span><br /> <span style="font-family:"Arial Unicode MS"">The 220-KV transmission line carrying power from the powerhouse of the Upper Tamakoshi Project is being connected to the sub-station located at New Khimti. </span><br /> <span style="font-family:"Arial Unicode MS"">Before this, preparations were made to connect the transmission line from this project to the Dhalkebar sub-station. </span><br /> <span style="font-family:"Arial Unicode MS"">The success of this project has raised hopes that other big projects could also be constructed with domestic investment. </span><br /> <span style="font-family:"Arial Unicode MS"">Although the initial cost of the project was estimated to be Rs 35 billion, it has now reached around Rs 80 billion in 10 years due to the increase in foreign exchange rate of the US Dollar and the interest rate, among other factors. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13340', 'image' => '20210627123145_20201206012152_1607211371.Clipboard13.jpg', 'article_date' => '2021-06-27 12:31:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13594', 'article_category_id' => '1', 'title' => 'Insurance Board Conducting Study to Expand Micro Insurance Sector', 'sub_title' => '', 'summary' => 'June 27: The Insurance Board has formed a committee to study the reason behind dismal growth of micro insurance sector. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The Insurance Board has formed a committee to study the reason behind dismal growth of micro insurance sector. The board has formed a four-member committee under the coordination of Sushil Dev Subedi, the director of the board. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Members of the committee include Punam Gywali, Deputy Director of the board, Chanki Chhetri, CEO of Sagarmatha Insurance and Poshakraj Poudel, CEO of Citizens Life Insurance Company. The committee has already started its study into the issue and will be submitting a report after the completion of the study in twenty days. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Raju Raman Poudel, Managing Director of the board, said that micro insurance has not been able to expand its business so a study committee has been formed to study this matter. The committee will study into the issues that are preventing the growth of the micro insurance sector and find out the mechanism to be adopted to expand its growth. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">At present, micro insurance services are accessible to 23 percent of the population. The government wants to increase its access to 33 percent of the population. To achieve the target, the board has been working on various issues. In this regard, the board has come up with the committee to figure out strategies to expand the micro insurance sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"If the business of micro insurance could be expanded, it helps to increase access to insurance. So study is being conducted with an objective to expand people's reach to insurance," he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">However there is not any intention to award licenses to micro insurance companies. "The study is not intended to provide license to micro insurance company. If the study implies a need for a separate company, it will be established but the board has not given any consideration to it as yet," said Poudel. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13339', 'image' => '20210627122025_20200417105653_Beema-Samiti.jpg', 'article_date' => '2021-06-27 12:19:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '13608', 'article_category_id' => '1', 'title' => 'Phase of Digital Economy Begins: FM Poudel ', 'sub_title' => '', 'summary' => 'June 30: Finance Minister Bishnu Poudel has said that the phase of developing digital economy has begun in the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 30: Finance Minister Bishnu Poudel has said that the phase of developing digital economy has begun in the country. </span><br /> <span style="font-family:"Arial Unicode MS"">Speaking at the 8th Anniversary of Media International on Tuesday, Minister Poudel shared that digital transaction was on the rise during COVID-19 pandemic and is expected to gradually lead the country towards the digital economy. </span><br /> <span style="font-family:"Arial Unicode MS"">He added that digital transaction will further help to make the economic system smart. Poudel said that making the economy vibrant was the need of the day and the government was effortful to develop entrepreneurship. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Poudel unveiled the logo of financial digitalization literacy. Similarly, Nepal Stock Exchange Board chairman Bhishmaraj Dhungana said that the latest technology was assisting to make the economy vibrant. </span><br /> <span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank’s Deputy Governor Bam Bahadur Mishra shared that the NRB was prioritizing digital transaction of late. --RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-06-30', 'modified' => '2021-06-30', 'keywords' => '', 'description' => '', 'sortorder' => '13353', 'image' => '20210630013245_20210530100611_budget_Finance Minister Paudel.jpg', 'article_date' => '2021-06-30 13:32:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13607', 'article_category_id' => '1', 'title' => 'Yoghurt worth Rs 190 Million Sold in a Day ', 'sub_title' => '', 'summary' => 'June 30: Yoghurt worth more than Rs 190 million has been sold across the country on Tuesday, June 29, 2021.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 30: Yoghurt worth more than Rs 190 million has been sold across the country on Tuesday, June 29, 2021. The single-day boost in sale was observed on the National Paddy Day, when people, especially the farmers, follow a tradition of having curd and beaten rice. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The Dairy Development Corporation, Nepal Dairy Association, Dairy Industry Association and other cooperatives have sold 1.67 million liters of yoghurt worth Rs 192.21 million in a single day. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the National Dairy Development Board, the Dairy Industry Association sold 700,000 liters of yoghurt worth Rs 85 million on Tuesday. Various cooperatives and other informal sectors across the country sold around 500,000 liters of yoghurt worth Rs 57.5 million. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Likewise, Nepal Dairy Association sold a total of 400,000 liters of yoghurt worth Rs 47 million, while DDC also sold 71,400 liters of yoghurt worth Rs 8.21 million. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Babu Kaji Pant, acting executive director of the Board, said that there was no significant sale of yoghurt on June 29 compared to the previous years. According to him, under normal circumstances, up to 2.5 million liters of yoghurt would be sold in the country on this day. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the board, the sale of yoghurt by the DDC has come down by 10 percent while that the private sector has also come down by about 35 percent due to the pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The market for dairy products has been gradually improving since the ban was lifted recently. Rudra Prasad Poudel, General Manager of the DDC, informed that the consumption of milk products has decreased as the areas that consume more dairy products such as hotels, restaurants and party palaces are closed due to the lockdown. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-30', 'modified' => '2021-06-30', 'keywords' => '', 'description' => '', 'sortorder' => '13352', 'image' => '20210630010501_My Effect.jpg', 'article_date' => '2021-06-30 13:04:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13606', 'article_category_id' => '1', 'title' => 'Hydropower Developers asked to Renew Survey License by mid-July', 'sub_title' => '', 'summary' => 'June 29: Projects involved in production, transmission and distribution of electricity have been told to renew their survey license by mid-July.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 29: Projects involved in production, transmission and distribution of electricity have been told to renew their survey license by mid-July. A recent ministerial-level meeting of the Ministry of Energy, Water Resources and Irrigation took a decision to this effect.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The District Administration Office, Kathmandu has relaxed the prohibitory order since June 22. Therefore, the ministry has said that the survey licenses of the projects should be renewed by mid-July.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the ministry, the promoters of the projects will have to apply to the Department of Electricity Development for the renewal of the survey license by mid-July along with the prescribed fee. The ministry said that the department will renew the survey license for a period of less than five years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government had imposed a complete lockdown in the country for four months from March 24, 2020 after the onset of the first wave of Covid-19. Since then, prohibitory orders have been enforced repeatedly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The prohibitory order has been imposed in various districts including Kathmandu Valley since April 29, 2021 after the second wave of coronavirus started taking massive toll on human lives. As a result, the projects with a survey license till March 23, 2020 have not been able to renew their licenses. Issuing a notice to the promoters on Sunday, the ministry has called for renewal of license as the ban has been lifted.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Spokesperson of the Ministry Madhu Prasad Bhetwal said that the projects should renew their survey licenses within the given period.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“Banks have also been shut down due to repeated lockdowns. As a result, the promoter companies were unable to pay the fees. But now that the ban has been lifted, the banks are also open,” he said, “This is the last chance for renewal. Therefore, the concerned projects will have to move ahead with the process of renewing the survey license within this period.” He further said that the additional fees may be charged if the renewal process is not done during this period.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13351', 'image' => '20210629033609_1624923335.Clipboard09.jpg', 'article_date' => '2021-06-29 15:35:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13604', 'article_category_id' => '1', 'title' => 'South Asia Must Reform Debt-Accumulating State-Owned Banks to Avert Next Financial Crisis', 'sub_title' => '', 'summary' => 'June 29: South Asia’s heavy reliance on state-owned commercial banks, state-owned enterprises, public-private partnerships and other national and sub-national public entities conceals its vulnerability to accumulating unsustainable levels of debt', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 29: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">South Asia’s heavy reliance on state-owned commercial banks, state-owned enterprises, public-private partnerships and other national and sub-national public entities conceals its vulnerability to accumulating unsustainable levels of debt, according to a new World Bank report, Hidden Debt: Solutions to Avert the Next Financial Crisis in South Asia, released on June 29.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the report, South Asia is more exposed to the risk of “hidden debt” from state-owned commercial banks (SOCBs), state-owned enterprises (SOEs) and public-private partnerships (PPPs) because of its greater reliance on them compared to other regions. But the report offers key areas for policy actions and concrete reforms that can help governments leverage public capital more responsibly through these types of entities to advance economic development, the World Bank said in a statement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “The COVID-19 pandemic has highlighted South Asia’s rising levels of public debt. The region is more exposed to the risk of hidden debt because it relies heavily on the governments’ involvement in markets to aid economic development,” the statement quoted Hartwig Schafer, World Bank’s Vice President for South Asia, as saying. “But the crisis demonstrates the critical importance of the judicious use of debt-financed public commitments and debt transparency to build back better, more sustainably, and more equitably.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Hidden Debt</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> studies the trade-offs between addressing development challenges directly through state presence in the markets and the risk of accumulating high levels of debt due to economic inefficiencies of off-balance sheet operations. It focuses on SOBCs, SOEs and PPPs and their contingent liabilities—obligations incurred by governments off their balance sheets that have triggers for payment. Over time, part of the debt is revealed as it hits the central government budget and debt stock, but a large part remains hidden under the radar of existing financial disclosure standards. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“The efficiency of South Asian state-owned banks and other state-owned enterprises is well below the international benchmark,”</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> said Hans Timmer, World Bank’s Chief Economist for South Asia. “As governments rebuild from the shock of the COVID-19 pandemic and strive to avert future financial crises, they should clearly separate the social and commercial objectives of these enterprises in order to reduce inefficiencies, while maintaining socially beneficial investments.” </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Governments often promise SOEs subsidies to run programs such as advancing access to electricity to underserved populations and small enterprises. SOCBs are asked to run government programs to promote financial inclusion or lend to under-served or riskier small and medium enterprises, often without compensation for losses that private markets avoid, the report stated. They are also asked to stimulate economies during downturns or financially support large PPPs that have concentrated risks. These hidden mandates are based on requests that are often made ad hoc and without consideration of risks or costs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “In episodes of systemic shock—such as the global financial crisis or the COVID-19 pandemic—when many banks experience distress simultaneously, private banks deleverage and curtail lending, while state-owned commercial banks receive capital and debt support from the state to continue or increase lending,” said Martin Melecky, World Bank Lead Economist and author of the report. “But this short-term stabilizing function comes at the cost of crowding out other social spending as public funds get spent on bank recapitalization and significant credit misallocation—away from successful firms and especially small and medium enterprises—making for an unequal recovery.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> The report estimates that a systemic macro-financial crisis can trigger PPP failures that would cost South Asian countries more than 4 percent of revenues, and the potential costs from distressed SOEs have been even more overwhelming. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13350', 'image' => '20210629031343_20191015114123_aaaa.jpg', 'article_date' => '2021-06-29 15:12:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13605', 'article_category_id' => '1', 'title' => 'FWEAN Organising 5th International Women’s Trade Expo Virtually', 'sub_title' => '', 'summary' => 'June 29: The Federation of Woman Entrepreneurs Associations of Nepal (FWEAN) is organizing the 5th International Women’s Trade Expo 2021 from September 2-6, 2021.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">June 29: The Federation of Woman Entrepreneurs Associations of Nepal (FWEAN) is organizing the 5th International Women’s Trade Expo 2021 from September 2-6, 2021. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">According to the FWEAN, the expo will be organised virtually in view of the COVID-19 pandemic. Issuing a statement, FEWAN said that the expo will showcase products of women entrepreneurs from all across Nepal as well. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">International Women Entrepreneurs will also participate as exhibitors, the statement added. The major objective of this expo is to promote products of Nepali women entrepreneurs, develop their market and increase their sales. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">The event is being supported by various donor organizations like Finn Church Aid (FCA), The Asia Foundation (TAF) and International Labor Organization (ILO).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">Products like handicrafts, natural fiber products, agro/food products, jewelry, herbal products, garments will be the main attraction, added FWEAN. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">The expo will have more than 300 virtual stalls and will be a hub for buying and selling products of women entrepreneurs both national and international, networking and also a meeting point for buyers and sellers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13349', 'image' => '20210629032206_FWEAN Virtual Expo Stall Booking Meeting-28-06-2021.jpg', 'article_date' => '2021-06-29 15:21:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13603', 'article_category_id' => '1', 'title' => 'Tourists’ Length of Stay in Nepal Increases in 2020', 'sub_title' => '', 'summary' => 'June 29: Although the number of tourists visiting Nepal reduced drastically in 2020, their length of stay has increased to some extent. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 29: Although the number of tourists visiting Nepal reduced drastically in 2020, their length of stay has increased to some extent. According to the government data, tourist arrivals shrunk to 230,000 in 2020 from more than 1 million a year ago, while their stay increased by 19 percent during the review period as compared to 2019.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The average stay of a tourist in Nepal is 12 days. In 2020, it increased by 19 percent and reached 15.1 days. According to Nepal Tourism Statistics-2020, the stay of tourists in Nepal has reached 15 days for the first time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Ministry of Culture, Tourism, and Civil Aviation on Monday released the Nepal Tourism Statistics-2020. According to the same statistics, the length of stay of tourists has increased.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The year 2019 marked the highest number of tourist arrival in Nepal with record of 1.197 million foreign visitors in Nepal. Despite the significant number of tourists, the average stay was just 12 days, as in previous years. However, the average length of stay of tourists has increased in 2020, even though the number of arrival has decreased due to coronavirus.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The ministry estimates that the length of tourists’ stay may have increased due to coronavirus in 2020. Most of the tourism-related activities were not open last year due to the outbreak of Covid-19 and lockdown. However, businessmen say that their length of stay has been extended this year as tourists have come to Nepal only for trekking and mountaineering. Even under normal circumstances, the stay of tourists for trekking and mountaineering is longer than average.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Vinayak Shah, vice-president of the Hotel Association of Nepal (HAN), argues that the number of foreigners who came to Nepal in 2020 was only for trekking and mountaineering. "The princes of Qatar and Bahrain have been staying for a long time," he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In 2020, foreign tourists came to Nepal for trekking and mountaineering while they were stopped from coming to Nepal for other activities.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He argues that the current stay period does not guarantee that the tourists’ length of stay will such long in the days to come. Entrepreneurs say that it is not fixed if this period will remain the same or decrease in the coming days.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the statistics, the purpose of visiting Nepal in 2020 has not changed. Foreign tourists come to Nepal for trekking, mountaineering, pilgrimage and holiday celebrations.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Out of them, 60.5 percent of the foreign tourists visiting Nepal this year are for holidays, 12.4 percent for adventure tourism like mountaineering and trekking and 15.6 percent for visiting religious places, and 11.5 percent for other activities.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13348', 'image' => '20210629020224_20210402034327_20210324020010_20200930115831_1601420205.89.jpg', 'article_date' => '2021-06-29 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13602', 'article_category_id' => '1', 'title' => 'Government Allocates Billions of Rupees for Various Employment Funds', 'sub_title' => '', 'summary' => 'June 29: The government is preparing to allocate billions of rupees to generate thousands of employment in the fiscal year 2021/22.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">June 29: The government is preparing to allocate billions of rupees to generate thousands of employment in the fiscal year 2021/22.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">At a time when the people’s livelihood has been severely affected by Covid-19 pandemic and people are having a difficult time to meet their daily needs, the government has prepared an action plan to allocate funds of billion rupees to the controversial Prime Minister Employment Program, Youth and Small Enterprise Self-Employment Fund and PM Agriculture Modernization Project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The Ministry of Labour, Employment and Social Security (MoLESS) informed that an action plan has already been prepared to implement these programs from July 16. The government is spending Rs 12 billion for the PM Employment Fund with an aim to generate 200,000 employments in the upcoming fiscal year. However, the previous experience shows ineffectiveness of the program which has drawn widespread criticism. The budget has to be spent in the construction of roads, building, river management, irrigation, planting trees in the local levels but funds are being allocated in the areas beyond this. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government is spending Rs 7.98 billion in the PM Agriculture Modernization Project to attract youth in agriculture, generate employment at the local level and prevent youth from migrating to foreign countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government aims to bring 71 zones into operation related to agriculture, fishery and livestock to generate employment opportunities. It aims to deploy students studying agriculture programs as interns in project areas to provide technical assistance to farmers and employ graduate students for a year on a contract basis. This program which is currently in operation has not been able to stop youth from migrating abroad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">To increase employment, the government has introduced a program to provide loans to startups at subsidized rates. To motivate young entrepreneurs to begin startup businesses, the government is providing loans up to Rs 2.5 million at one percent interest rate. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government has also announced to provide services like registration, renewal and other services of startup business free of cost through a one door system, facilitate in policy level to attract foreign investment in startup businesses and a challenge fund of one billion rupees will be set up.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">However, the modality of its implementation is not clear since the beginning. The program was included in the budgets of the current and previous fiscal years as well to encourage startup culture but was not implemented. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">In order to develop skilled manpower in accordance with the needs of the domestic industries, the government is also conducting workplace based training by providing a subsidy equal to three months minimum wage to the trainee workers in manufacturing and service industries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government aims to provide soft loans of up to Rs 2.5 million at five percent interest rate to students by keeping their academic certificates as collateral. This program has been in operation for many years but has not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government, which has scrapped the Poverty Alleviation Fund, is also creating employment through the Youth and Small Enterprises Self-Employment Fund. It has adopted a policy to make 12,000 youths self-employed by next year by providing loan facility along with technical and vocational skills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">To develop the skills of young people entering the labor market, workers returning from foreign employment and those who have lost their jobs at home, the government is investing Rs 400 million in handicraft, plumbing, electrical repair, electronics, cookery, artisan, carpentry, tailoring, beauticians, haircutting, vehicle and mobile maintenance skills. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Expert Dr Ganesh Gurung says that the implementation part of all these programs remain uncertain due to lack of coordination. He said that the government should not delay the implementation of such programs by making a clear action plan. However, Deepak Kafle, Joint Secretary of the MoLESS said such a situation would not arise as an action plan is being formulated and implemented for the effective implementation of these programs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><em><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">No study on impact of second wave of corona</span></span></em></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government has introduced various employment programs but lacks reliable data on the impact of COVID-19 on the labor market. Joint Secretary Deepak Kafle admitted that the ministry is yet to conduct a study on this issue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Last year, the National Planning Commission (NPC) had prepared a report after conducting a partial study in this regard. NPC had found that the first wave of COVID itself had led to a sharp rise in poverty. This study was also of preliminary nature and NPC has also not conducted a full-fledged study. Pushpa Raj Kandel, Vice Chairman of the NPC informed that a study to assess the impact of COVID in the labor market will begin from the end of this month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The central bank had also conducted a study on this issue and found the hotel and tourism sectors had been worst affected by the first wave of COVID-19 pandemic.</span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13347', 'image' => '20210629125101_20210504121005_20200909034726_1599602881.3.jpg', 'article_date' => '2021-06-29 12:50:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13601', 'article_category_id' => '1', 'title' => 'Prohibitory Order Further Extended with Relaxation', 'sub_title' => '', 'summary' => 'Government authorities have once again extended the Covid-19 prohibitory order in Kathmandu valley by a week, effective from June 29.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">June 28: Government authorities have once again extended the Covid-19 prohibitory order in Kathmandu valley by a week, effective from June 29. However, the authorities have eased the restrictions to some extent, bringing respite to the people.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">A meeting of the chief district officers of Kathmandu, Lalitpur, and Bhaktapur, on Monday (June 28) decided to allow grocery stores to operate till 6 pm every day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Similarly, departmental stores, shopping malls, cosmetic and gift shops, tailoring and clothing stores, jewelry shops, automobile showrooms, hardware and furniture shops among others will be allowed to operate from 11 am to 6 pm each day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">As per the decision, public vehicles with seating capacity of more than 25 passengers will now be allowed to operate in the valley from June 29. However, the vehicles will have to strictly follow the health protocol set by the government and operate under the odd-even rule. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Issuing a press statement, the District Administration Office, Kathmandu stated that public transport entrepreneurs are required to ensure the enforcement of public health protocols and physical distancing rule while operating their vehicles. This rule also applies to private vehicles, that have been operating since last week.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Vehicles will be allowed to operate between 6 am to 7 pm, inside the valley, according to the state-owned national news agency RSS.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Meanwhile, wedding ceremonies and family gatherings are allowed within the premises of the private house with no more than 15 attendants.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The meeting of the CDOs of the three districts of Kathmandu Valley had announced to ease the lockdown from June 29, taking into consideration the decline in Covid-19 cases in the valley .</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13346', 'image' => '20210628052619_20200601121121_lockdown.jpg', 'article_date' => '2021-06-28 17:25:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13600', 'article_category_id' => '1', 'title' => '200 kg of Gold Imported after Relaxation of Prohibitory Order ', 'sub_title' => '', 'summary' => 'June 28: Commercial banks have imported 200 kg of gold after the lockdown was eased. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 28: Commercial banks have imported 200 kg of gold after the lockdown was eased. Prior to this, the import of gold was completely halted. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Jewelry shops have been allowed to operate after the lockdown was eased on June 22. After that, Nepal Bankers Association imported gold upon the recommendation of the Federation of Nepal Gold and Silver Dealers Association,</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Mani Ratna Shakya, former president of the federation, informed that the 200 kg of gold was imported by the bankers’ association. “The association has already imported the gold and distributed it to the businessmen,” he said, adding, “100 kg of gold have been imported in Kathmandu valley this time while the other 100 kg have been imported to places outside the valley.” </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">District administration offices had imposed the ban in most of the districts across the country to contain the second wave of covid-19. The import of gold was halted from April 25. Shakya says that they have started importing gold after the ban was eased. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The federation had urged the banks not to import gold due to the high chances of lockdown. The banks have been given the authority to import gold in Nepal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the statistics of the Department of Customs, the import of gold from mid-May to mid-June was zero. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Altogether 3,018 kg of gold worth Rs 21.68 billion has been imported till May 14 this year. The data show that gold worth Rs 2.12 billion was imported from Turkey while the remaining gold worth Rs 18.94 billion was imported from the UAE. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The import of gold had also declined due to the lockdown imposed to control the first wave of covid-19. However, imports increased after the lockdown was lifted. Nevertheless, the import was affected again during the second phase of lockdown. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The import of gold was below average in April. Prior to April, gold worth Rs 2.14 billion was imported monthly on average. However, gold of only Rs 1.75 billion was imported in April. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13345', 'image' => '20210628023749_20201215120431_gold.jpg', 'article_date' => '2021-06-28 14:37:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13599', 'article_category_id' => '1', 'title' => 'Reconstruction Authority Engineers Agree to Return to Work', 'sub_title' => '', 'summary' => 'June 28: Engineers of the National Reconstruction Authority (NRA) under the Central Project Implementation Unit have agreed to return to work.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 28: Engineers of the National Reconstruction Authority (NRA) under the Central Project Implementation Unit have agreed to return to work. The engineers reached an understanding with the NRA after rounds of talks and discussions with NRA representatives on Saturday.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The engineers agreed to return to work after being assured to be provided with the communication, transportation, and local allowances. Likewise, NRA has assured them of providing necessary training to the technicians.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">After the discussion, Shyam Kishore Singh, Project Director of the Central Project Implementation Unit, and Avinash Amar signed the MoU on behalf of the two parties.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Amar expressed happiness over the fulfillment of all of their demands and pledged to work on all the technical works and show progress by mid-July, reads a statement of NRA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The agreement reached between the authority and the engineers is as follows:</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">1. The Central Project Implementation Unit will take initiative to provide insurance amount to the family of Raja Shah, who has been working under the District Planning Implementation Unit working under Okhaldhunga, if he dies during his tenure.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">2. Prepare a roster of the employees (including technicians, social workers) who have worked under the authority at different times and also put it in the online portal. Also, this roster will be sent by NRA to various concerned bodies for future reference.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">3. To provide communication expenses, transportation expenses, and local allowances to the technicians as per the rules from the month of Shrawan of the current Fiscal Year 2077/78.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">4. NRA will provide refresher training to the technicians working under NRA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">5. NRA will take initiative to give recognition to the technicians and include in the 10-year goal of Nepal Grand Campaign.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">6. All the movements of the technicians under NRA will be ended from June 26 and will return to regular work.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13344', 'image' => '20210628124301_tesXamd4TN210415090728.JPG', 'article_date' => '2021-06-28 12:42:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13598', 'article_category_id' => '1', 'title' => 'World Bank to Provide Concessional Loan of $150 Million to Support Nepal’s Resilient Recovery', 'sub_title' => '', 'summary' => 'June 28: The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.', 'content' => '<p><em>Photo Courtesy: World Bank Nepal</em></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">June 28: </span></span><span style="font-size:13.5pt"><span style="font-family:Helvetica"> The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the loan will be utilized to protect the most vulnerable, and support sustainable growth.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Finance Secretary Sishir Kumar Dhungana and the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos, signed the agreement to this effect, reads a statement issued by the World Bank.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“The project will help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">the statement quoted Finance Secretary Sishir Kumar Dhungana as saying. “The proposed budgetary support will be utilized in the physical infrastructural projects and economic recovery sectors as per the requirement and priorities of the Government of Nepal.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“This project will help the country achieve sustained growth during and after the COVID-19 pandemic that is inclusive, job-creating and environmentally sustainable,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">stated Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to support the government’s pandemic response to protect lives and stimulate economic recovery in Nepal.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13343', 'image' => '20210628075141_203762300_10157693663166467_996050178721294899_n.jpg', 'article_date' => '2021-06-28 07:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13596', 'article_category_id' => '1', 'title' => 'Fuel and Vehicles worth Rs 150 Billion Imported through Birgunj Customs ', 'sub_title' => '', 'summary' => 'June 27: The imports of Nepal have increased immensely despite the coronavirus pandemic disrupting the overall production and supply chain. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The imports of Nepal have increased immensely despite the coronavirus pandemic disrupting the overall production and supply chain. According to the import data for the 11 months of the current Fiscal Year (FY 2077/78) at Birgunj, the main customs point of the country, fuel and vehicle imports have increased more during the reveiw period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Birgunj Customs Office, fuel and vehicles worth Rs 141.14 billion have been imported between July to May this year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The country has incurred R. 11 billion more on fuel and vehicle imports this year compared to the review period of the last fiscal year 2076/77. Chief Customs Officer at the Birgunj Customs Office Harihar Poudel said that petroleum products worth Rs 113.75 billion and vehicles worth Rs 27.38 billion have been imported by the end of June this year. According to the customs office, 18 types of vehicles including jeeps, motorcycles, trucks, and buses have been imported through the checkpoint.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Petroleum products worth Rs 107.18 billion and vehicles worth Rs 23.42 billion were imported till May in the previous fiscal year. Fuel and vehicle imports accounted for about 31 percent of the total imports from Birgunj customs as of May this year. During this period, goods worth Rs 458 billion were imported through Birgunj Customs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government imposed a lockdown for about six months from March last year to stop the spread of Covid-19. Similarly, the government has issued prohibitory order since April 29 this year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Fuel and vehicle imports were expected to decline this year due to the ban. However, the import of vehicles has increased in the last month, said Poudel. Most of the diesel and aviation fuel enter through Birgunj. Poudel informed that most of the diesel comes from the Motihari-Amalekhgunj Petroleum Pipeline.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the customs office, 828,000 kiloliters of diesel worth Rs 50.40 billion has arrived through Birgunj in the first 11 months of the current fiscal year. During this period, 284,000 kiloliters of petrol and 122,000 kiloliters of aviation fuel have entered the country. According to the customs office, 15 types of petroleum products have entered Nepal through the Birgunj checkpoint.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13342', 'image' => '20210627024332_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-06-27 14:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13597', 'article_category_id' => '1', 'title' => 'Chicken Price Jumps as Production Declines', 'sub_title' => '', 'summary' => 'June 27: The price of chicken has surged in the market with the decline in production due to the lockdown imposed by the government to curb the spread of covid-19 and disease like Newcastle.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The price of chicken has surged in the market with the decline in production due to the lockdown imposed by the government to curb the spread of covid-19 and disease like Newcastle. The recent floods and landslides in various districts have also affected the production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Many farmers have stopped producing chicken due to the fear of not being able to sell the produced chicken while the Newcastle disease in different districts also created panic among them. Chicken traders say that the production has reduced due to the floods and landslides caused by continuous rain.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the stakeholders, about 30 percent of poultry farmers have sopped raising chickens due to the lockdown, Newcastle disease as well as floods and landslides.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to Tikaram Pokhrel, former president of the Nepal Hatchery Industries Association, the production of chicken has come down from 4.5 million to 3.1 million. He said that the farmers have stopped adding chicks after the roads in different districts were blocked due to floods and landslides.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The direct impact of decline in production is seen in the price of the chicken. According to the Meat Entrepreneurs Association of Nepal, the price of broiler chicken has gone up by Rs 40 to Rs 290 per kg from Rs 330 per kg. In the retail market, the price is up to Rs 350.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Jung Bahadur BC, president of the association, says that if the production is not improved, the price of meat may increase further.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He informed that the consumption of meat has also increased as the ban has been eased to some extent. “The consumption of meat in the Kathmandu Valley was only 20 percent at the time of the ban, but it has increased to 40 percent now,” he says. Under normal circumstances, about 500,000 kg of meat is consumed daily in Kathmandu Valley.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The increase in the price of grains and medicines for feeding chicken has also affected the production. The price of soybean that is used for making chicken feed has increased from Rs 75 to Rs 88 per kg, while the price of maize has also increased from Rs 26 to Rs 32 per kg.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13341', 'image' => '20210627030211_20160613051853_20160613104208_Clipboard05.jpg', 'article_date' => '2021-06-27 15:01:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13595', 'article_category_id' => '1', 'title' => 'Upper Tamakoshi Hydropower Project to Come into Operation within July 15 ', 'sub_title' => '', 'summary' => 'June 27: The much-awaited national pride project, Upper Tamakoshi Hydropower Project, is all set to generate electricity within three weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 27: The much-awaited national pride project, Upper Tamakoshi Hydropower Project, is all set to generate electricity within three weeks. According to the national news agency (RSS), it will start generating 152 megawatts electricity from July 15. </span><br /> <span style="font-family:"Arial Unicode MS"">Necessary preparations have reached the final stage for producing electricity from two units of the project within July 15, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">Project spokesperson Dr Ganesh Neupane said the trial run of the first unit has been conducted in the first phase and works are on for conducting the test run of the second unit. The project would be connected to the national grid after completing the works of the second unit. </span><br /> <span style="font-family:"Arial Unicode MS"">The 456-megawatt project is near completion almost 10 years after its construction was started. The project with largest domestic investment has reached the final phase of completion despite grappling with natural disasters and various other technical issues. </span><br /> <span style="font-family:"Arial Unicode MS"">Neupane said that necessary preparations are being done from June 27 to July 3 for feeding the electricity produced from the project to the national grid. According to him, works of managing the transmission line of the project have been forwarded. </span><br /> <span style="font-family:"Arial Unicode MS"">The 220-KV transmission line carrying power from the powerhouse of the Upper Tamakoshi Project is being connected to the sub-station located at New Khimti. </span><br /> <span style="font-family:"Arial Unicode MS"">Before this, preparations were made to connect the transmission line from this project to the Dhalkebar sub-station. </span><br /> <span style="font-family:"Arial Unicode MS"">The success of this project has raised hopes that other big projects could also be constructed with domestic investment. </span><br /> <span style="font-family:"Arial Unicode MS"">Although the initial cost of the project was estimated to be Rs 35 billion, it has now reached around Rs 80 billion in 10 years due to the increase in foreign exchange rate of the US Dollar and the interest rate, among other factors. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13340', 'image' => '20210627123145_20201206012152_1607211371.Clipboard13.jpg', 'article_date' => '2021-06-27 12:31:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13594', 'article_category_id' => '1', 'title' => 'Insurance Board Conducting Study to Expand Micro Insurance Sector', 'sub_title' => '', 'summary' => 'June 27: The Insurance Board has formed a committee to study the reason behind dismal growth of micro insurance sector. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The Insurance Board has formed a committee to study the reason behind dismal growth of micro insurance sector. The board has formed a four-member committee under the coordination of Sushil Dev Subedi, the director of the board. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Members of the committee include Punam Gywali, Deputy Director of the board, Chanki Chhetri, CEO of Sagarmatha Insurance and Poshakraj Poudel, CEO of Citizens Life Insurance Company. The committee has already started its study into the issue and will be submitting a report after the completion of the study in twenty days. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Raju Raman Poudel, Managing Director of the board, said that micro insurance has not been able to expand its business so a study committee has been formed to study this matter. The committee will study into the issues that are preventing the growth of the micro insurance sector and find out the mechanism to be adopted to expand its growth. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">At present, micro insurance services are accessible to 23 percent of the population. The government wants to increase its access to 33 percent of the population. To achieve the target, the board has been working on various issues. In this regard, the board has come up with the committee to figure out strategies to expand the micro insurance sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"If the business of micro insurance could be expanded, it helps to increase access to insurance. So study is being conducted with an objective to expand people's reach to insurance," he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">However there is not any intention to award licenses to micro insurance companies. "The study is not intended to provide license to micro insurance company. If the study implies a need for a separate company, it will be established but the board has not given any consideration to it as yet," said Poudel. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13339', 'image' => '20210627122025_20200417105653_Beema-Samiti.jpg', 'article_date' => '2021-06-27 12:19:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 30: Finance Minister Bishnu Poudel has said that the phase of developing digital economy has begun in the country. </span><br /> <span style="font-family:"Arial Unicode MS"">Speaking at the 8th Anniversary of Media International on Tuesday, Minister Poudel shared that digital transaction was on the rise during COVID-19 pandemic and is expected to gradually lead the country towards the digital economy. </span><br /> <span style="font-family:"Arial Unicode MS"">He added that digital transaction will further help to make the economic system smart. Poudel said that making the economy vibrant was the need of the day and the government was effortful to develop entrepreneurship. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Poudel unveiled the logo of financial digitalization literacy. Similarly, Nepal Stock Exchange Board chairman Bhishmaraj Dhungana said that the latest technology was assisting to make the economy vibrant. </span><br /> <span style="font-family:"Arial Unicode MS"">Nepal Rastra Bank’s Deputy Governor Bam Bahadur Mishra shared that the NRB was prioritizing digital transaction of late. --RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-06-30', 'modified' => '2021-06-30', 'keywords' => '', 'description' => '', 'sortorder' => '13353', 'image' => '20210630013245_20210530100611_budget_Finance Minister Paudel.jpg', 'article_date' => '2021-06-30 13:32:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13607', 'article_category_id' => '1', 'title' => 'Yoghurt worth Rs 190 Million Sold in a Day ', 'sub_title' => '', 'summary' => 'June 30: Yoghurt worth more than Rs 190 million has been sold across the country on Tuesday, June 29, 2021.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 30: Yoghurt worth more than Rs 190 million has been sold across the country on Tuesday, June 29, 2021. The single-day boost in sale was observed on the National Paddy Day, when people, especially the farmers, follow a tradition of having curd and beaten rice. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The Dairy Development Corporation, Nepal Dairy Association, Dairy Industry Association and other cooperatives have sold 1.67 million liters of yoghurt worth Rs 192.21 million in a single day. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the National Dairy Development Board, the Dairy Industry Association sold 700,000 liters of yoghurt worth Rs 85 million on Tuesday. Various cooperatives and other informal sectors across the country sold around 500,000 liters of yoghurt worth Rs 57.5 million. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Likewise, Nepal Dairy Association sold a total of 400,000 liters of yoghurt worth Rs 47 million, while DDC also sold 71,400 liters of yoghurt worth Rs 8.21 million. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Babu Kaji Pant, acting executive director of the Board, said that there was no significant sale of yoghurt on June 29 compared to the previous years. According to him, under normal circumstances, up to 2.5 million liters of yoghurt would be sold in the country on this day. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the board, the sale of yoghurt by the DDC has come down by 10 percent while that the private sector has also come down by about 35 percent due to the pandemic. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The market for dairy products has been gradually improving since the ban was lifted recently. Rudra Prasad Poudel, General Manager of the DDC, informed that the consumption of milk products has decreased as the areas that consume more dairy products such as hotels, restaurants and party palaces are closed due to the lockdown. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-30', 'modified' => '2021-06-30', 'keywords' => '', 'description' => '', 'sortorder' => '13352', 'image' => '20210630010501_My Effect.jpg', 'article_date' => '2021-06-30 13:04:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13606', 'article_category_id' => '1', 'title' => 'Hydropower Developers asked to Renew Survey License by mid-July', 'sub_title' => '', 'summary' => 'June 29: Projects involved in production, transmission and distribution of electricity have been told to renew their survey license by mid-July.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 29: Projects involved in production, transmission and distribution of electricity have been told to renew their survey license by mid-July. A recent ministerial-level meeting of the Ministry of Energy, Water Resources and Irrigation took a decision to this effect.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The District Administration Office, Kathmandu has relaxed the prohibitory order since June 22. Therefore, the ministry has said that the survey licenses of the projects should be renewed by mid-July.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the ministry, the promoters of the projects will have to apply to the Department of Electricity Development for the renewal of the survey license by mid-July along with the prescribed fee. The ministry said that the department will renew the survey license for a period of less than five years.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government had imposed a complete lockdown in the country for four months from March 24, 2020 after the onset of the first wave of Covid-19. Since then, prohibitory orders have been enforced repeatedly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The prohibitory order has been imposed in various districts including Kathmandu Valley since April 29, 2021 after the second wave of coronavirus started taking massive toll on human lives. As a result, the projects with a survey license till March 23, 2020 have not been able to renew their licenses. Issuing a notice to the promoters on Sunday, the ministry has called for renewal of license as the ban has been lifted.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Spokesperson of the Ministry Madhu Prasad Bhetwal said that the projects should renew their survey licenses within the given period.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">“Banks have also been shut down due to repeated lockdowns. As a result, the promoter companies were unable to pay the fees. But now that the ban has been lifted, the banks are also open,” he said, “This is the last chance for renewal. Therefore, the concerned projects will have to move ahead with the process of renewing the survey license within this period.” He further said that the additional fees may be charged if the renewal process is not done during this period.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13351', 'image' => '20210629033609_1624923335.Clipboard09.jpg', 'article_date' => '2021-06-29 15:35:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13604', 'article_category_id' => '1', 'title' => 'South Asia Must Reform Debt-Accumulating State-Owned Banks to Avert Next Financial Crisis', 'sub_title' => '', 'summary' => 'June 29: South Asia’s heavy reliance on state-owned commercial banks, state-owned enterprises, public-private partnerships and other national and sub-national public entities conceals its vulnerability to accumulating unsustainable levels of debt', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 29: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">South Asia’s heavy reliance on state-owned commercial banks, state-owned enterprises, public-private partnerships and other national and sub-national public entities conceals its vulnerability to accumulating unsustainable levels of debt, according to a new World Bank report, Hidden Debt: Solutions to Avert the Next Financial Crisis in South Asia, released on June 29.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the report, South Asia is more exposed to the risk of “hidden debt” from state-owned commercial banks (SOCBs), state-owned enterprises (SOEs) and public-private partnerships (PPPs) because of its greater reliance on them compared to other regions. But the report offers key areas for policy actions and concrete reforms that can help governments leverage public capital more responsibly through these types of entities to advance economic development, the World Bank said in a statement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “The COVID-19 pandemic has highlighted South Asia’s rising levels of public debt. The region is more exposed to the risk of hidden debt because it relies heavily on the governments’ involvement in markets to aid economic development,” the statement quoted Hartwig Schafer, World Bank’s Vice President for South Asia, as saying. “But the crisis demonstrates the critical importance of the judicious use of debt-financed public commitments and debt transparency to build back better, more sustainably, and more equitably.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Hidden Debt</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> studies the trade-offs between addressing development challenges directly through state presence in the markets and the risk of accumulating high levels of debt due to economic inefficiencies of off-balance sheet operations. It focuses on SOBCs, SOEs and PPPs and their contingent liabilities—obligations incurred by governments off their balance sheets that have triggers for payment. Over time, part of the debt is revealed as it hits the central government budget and debt stock, but a large part remains hidden under the radar of existing financial disclosure standards. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“The efficiency of South Asian state-owned banks and other state-owned enterprises is well below the international benchmark,”</span></span><span style="font-size:14.0pt"><span style="font-family:Arial"> said Hans Timmer, World Bank’s Chief Economist for South Asia. “As governments rebuild from the shock of the COVID-19 pandemic and strive to avert future financial crises, they should clearly separate the social and commercial objectives of these enterprises in order to reduce inefficiencies, while maintaining socially beneficial investments.” </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Governments often promise SOEs subsidies to run programs such as advancing access to electricity to underserved populations and small enterprises. SOCBs are asked to run government programs to promote financial inclusion or lend to under-served or riskier small and medium enterprises, often without compensation for losses that private markets avoid, the report stated. They are also asked to stimulate economies during downturns or financially support large PPPs that have concentrated risks. These hidden mandates are based on requests that are often made ad hoc and without consideration of risks or costs. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> “In episodes of systemic shock—such as the global financial crisis or the COVID-19 pandemic—when many banks experience distress simultaneously, private banks deleverage and curtail lending, while state-owned commercial banks receive capital and debt support from the state to continue or increase lending,” said Martin Melecky, World Bank Lead Economist and author of the report. “But this short-term stabilizing function comes at the cost of crowding out other social spending as public funds get spent on bank recapitalization and significant credit misallocation—away from successful firms and especially small and medium enterprises—making for an unequal recovery.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial"> The report estimates that a systemic macro-financial crisis can trigger PPP failures that would cost South Asian countries more than 4 percent of revenues, and the potential costs from distressed SOEs have been even more overwhelming. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13350', 'image' => '20210629031343_20191015114123_aaaa.jpg', 'article_date' => '2021-06-29 15:12:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13605', 'article_category_id' => '1', 'title' => 'FWEAN Organising 5th International Women’s Trade Expo Virtually', 'sub_title' => '', 'summary' => 'June 29: The Federation of Woman Entrepreneurs Associations of Nepal (FWEAN) is organizing the 5th International Women’s Trade Expo 2021 from September 2-6, 2021.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">June 29: The Federation of Woman Entrepreneurs Associations of Nepal (FWEAN) is organizing the 5th International Women’s Trade Expo 2021 from September 2-6, 2021. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">According to the FWEAN, the expo will be organised virtually in view of the COVID-19 pandemic. Issuing a statement, FEWAN said that the expo will showcase products of women entrepreneurs from all across Nepal as well. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">International Women Entrepreneurs will also participate as exhibitors, the statement added. The major objective of this expo is to promote products of Nepali women entrepreneurs, develop their market and increase their sales. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">The event is being supported by various donor organizations like Finn Church Aid (FCA), The Asia Foundation (TAF) and International Labor Organization (ILO).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">Products like handicrafts, natural fiber products, agro/food products, jewelry, herbal products, garments will be the main attraction, added FWEAN. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:16.0pt"><span style="font-family:"Times New Roman"">The expo will have more than 300 virtual stalls and will be a hub for buying and selling products of women entrepreneurs both national and international, networking and also a meeting point for buyers and sellers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13349', 'image' => '20210629032206_FWEAN Virtual Expo Stall Booking Meeting-28-06-2021.jpg', 'article_date' => '2021-06-29 15:21:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13603', 'article_category_id' => '1', 'title' => 'Tourists’ Length of Stay in Nepal Increases in 2020', 'sub_title' => '', 'summary' => 'June 29: Although the number of tourists visiting Nepal reduced drastically in 2020, their length of stay has increased to some extent. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 29: Although the number of tourists visiting Nepal reduced drastically in 2020, their length of stay has increased to some extent. According to the government data, tourist arrivals shrunk to 230,000 in 2020 from more than 1 million a year ago, while their stay increased by 19 percent during the review period as compared to 2019.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The average stay of a tourist in Nepal is 12 days. In 2020, it increased by 19 percent and reached 15.1 days. According to Nepal Tourism Statistics-2020, the stay of tourists in Nepal has reached 15 days for the first time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Ministry of Culture, Tourism, and Civil Aviation on Monday released the Nepal Tourism Statistics-2020. According to the same statistics, the length of stay of tourists has increased.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The year 2019 marked the highest number of tourist arrival in Nepal with record of 1.197 million foreign visitors in Nepal. Despite the significant number of tourists, the average stay was just 12 days, as in previous years. However, the average length of stay of tourists has increased in 2020, even though the number of arrival has decreased due to coronavirus.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The ministry estimates that the length of tourists’ stay may have increased due to coronavirus in 2020. Most of the tourism-related activities were not open last year due to the outbreak of Covid-19 and lockdown. However, businessmen say that their length of stay has been extended this year as tourists have come to Nepal only for trekking and mountaineering. Even under normal circumstances, the stay of tourists for trekking and mountaineering is longer than average.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Vinayak Shah, vice-president of the Hotel Association of Nepal (HAN), argues that the number of foreigners who came to Nepal in 2020 was only for trekking and mountaineering. "The princes of Qatar and Bahrain have been staying for a long time," he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In 2020, foreign tourists came to Nepal for trekking and mountaineering while they were stopped from coming to Nepal for other activities.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He argues that the current stay period does not guarantee that the tourists’ length of stay will such long in the days to come. Entrepreneurs say that it is not fixed if this period will remain the same or decrease in the coming days.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the statistics, the purpose of visiting Nepal in 2020 has not changed. Foreign tourists come to Nepal for trekking, mountaineering, pilgrimage and holiday celebrations.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Out of them, 60.5 percent of the foreign tourists visiting Nepal this year are for holidays, 12.4 percent for adventure tourism like mountaineering and trekking and 15.6 percent for visiting religious places, and 11.5 percent for other activities.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13348', 'image' => '20210629020224_20210402034327_20210324020010_20200930115831_1601420205.89.jpg', 'article_date' => '2021-06-29 14:01:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13602', 'article_category_id' => '1', 'title' => 'Government Allocates Billions of Rupees for Various Employment Funds', 'sub_title' => '', 'summary' => 'June 29: The government is preparing to allocate billions of rupees to generate thousands of employment in the fiscal year 2021/22.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">June 29: The government is preparing to allocate billions of rupees to generate thousands of employment in the fiscal year 2021/22.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">At a time when the people’s livelihood has been severely affected by Covid-19 pandemic and people are having a difficult time to meet their daily needs, the government has prepared an action plan to allocate funds of billion rupees to the controversial Prime Minister Employment Program, Youth and Small Enterprise Self-Employment Fund and PM Agriculture Modernization Project.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The Ministry of Labour, Employment and Social Security (MoLESS) informed that an action plan has already been prepared to implement these programs from July 16. The government is spending Rs 12 billion for the PM Employment Fund with an aim to generate 200,000 employments in the upcoming fiscal year. However, the previous experience shows ineffectiveness of the program which has drawn widespread criticism. The budget has to be spent in the construction of roads, building, river management, irrigation, planting trees in the local levels but funds are being allocated in the areas beyond this. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government is spending Rs 7.98 billion in the PM Agriculture Modernization Project to attract youth in agriculture, generate employment at the local level and prevent youth from migrating to foreign countries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government aims to bring 71 zones into operation related to agriculture, fishery and livestock to generate employment opportunities. It aims to deploy students studying agriculture programs as interns in project areas to provide technical assistance to farmers and employ graduate students for a year on a contract basis. This program which is currently in operation has not been able to stop youth from migrating abroad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">To increase employment, the government has introduced a program to provide loans to startups at subsidized rates. To motivate young entrepreneurs to begin startup businesses, the government is providing loans up to Rs 2.5 million at one percent interest rate. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government has also announced to provide services like registration, renewal and other services of startup business free of cost through a one door system, facilitate in policy level to attract foreign investment in startup businesses and a challenge fund of one billion rupees will be set up.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">However, the modality of its implementation is not clear since the beginning. The program was included in the budgets of the current and previous fiscal years as well to encourage startup culture but was not implemented. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">In order to develop skilled manpower in accordance with the needs of the domestic industries, the government is also conducting workplace based training by providing a subsidy equal to three months minimum wage to the trainee workers in manufacturing and service industries. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government aims to provide soft loans of up to Rs 2.5 million at five percent interest rate to students by keeping their academic certificates as collateral. This program has been in operation for many years but has not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government, which has scrapped the Poverty Alleviation Fund, is also creating employment through the Youth and Small Enterprises Self-Employment Fund. It has adopted a policy to make 12,000 youths self-employed by next year by providing loan facility along with technical and vocational skills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">To develop the skills of young people entering the labor market, workers returning from foreign employment and those who have lost their jobs at home, the government is investing Rs 400 million in handicraft, plumbing, electrical repair, electronics, cookery, artisan, carpentry, tailoring, beauticians, haircutting, vehicle and mobile maintenance skills. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Expert Dr Ganesh Gurung says that the implementation part of all these programs remain uncertain due to lack of coordination. He said that the government should not delay the implementation of such programs by making a clear action plan. However, Deepak Kafle, Joint Secretary of the MoLESS said such a situation would not arise as an action plan is being formulated and implemented for the effective implementation of these programs.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><em><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">No study on impact of second wave of corona</span></span></em></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The government has introduced various employment programs but lacks reliable data on the impact of COVID-19 on the labor market. Joint Secretary Deepak Kafle admitted that the ministry is yet to conduct a study on this issue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">Last year, the National Planning Commission (NPC) had prepared a report after conducting a partial study in this regard. NPC had found that the first wave of COVID itself had led to a sharp rise in poverty. This study was also of preliminary nature and NPC has also not conducted a full-fledged study. Pushpa Raj Kandel, Vice Chairman of the NPC informed that a study to assess the impact of COVID in the labor market will begin from the end of this month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">The central bank had also conducted a study on this issue and found the hotel and tourism sectors had been worst affected by the first wave of COVID-19 pandemic.</span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-06-29', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13347', 'image' => '20210629125101_20210504121005_20200909034726_1599602881.3.jpg', 'article_date' => '2021-06-29 12:50:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13601', 'article_category_id' => '1', 'title' => 'Prohibitory Order Further Extended with Relaxation', 'sub_title' => '', 'summary' => 'Government authorities have once again extended the Covid-19 prohibitory order in Kathmandu valley by a week, effective from June 29.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">June 28: Government authorities have once again extended the Covid-19 prohibitory order in Kathmandu valley by a week, effective from June 29. However, the authorities have eased the restrictions to some extent, bringing respite to the people.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">A meeting of the chief district officers of Kathmandu, Lalitpur, and Bhaktapur, on Monday (June 28) decided to allow grocery stores to operate till 6 pm every day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Similarly, departmental stores, shopping malls, cosmetic and gift shops, tailoring and clothing stores, jewelry shops, automobile showrooms, hardware and furniture shops among others will be allowed to operate from 11 am to 6 pm each day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">As per the decision, public vehicles with seating capacity of more than 25 passengers will now be allowed to operate in the valley from June 29. However, the vehicles will have to strictly follow the health protocol set by the government and operate under the odd-even rule. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:Arial">Issuing a press statement, the District Administration Office, Kathmandu stated that public transport entrepreneurs are required to ensure the enforcement of public health protocols and physical distancing rule while operating their vehicles. This rule also applies to private vehicles, that have been operating since last week.</span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Vehicles will be allowed to operate between 6 am to 7 pm, inside the valley, according to the state-owned national news agency RSS.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Meanwhile, wedding ceremonies and family gatherings are allowed within the premises of the private house with no more than 15 attendants.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The meeting of the CDOs of the three districts of Kathmandu Valley had announced to ease the lockdown from June 29, taking into consideration the decline in Covid-19 cases in the valley .</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-29', 'keywords' => '', 'description' => '', 'sortorder' => '13346', 'image' => '20210628052619_20200601121121_lockdown.jpg', 'article_date' => '2021-06-28 17:25:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13600', 'article_category_id' => '1', 'title' => '200 kg of Gold Imported after Relaxation of Prohibitory Order ', 'sub_title' => '', 'summary' => 'June 28: Commercial banks have imported 200 kg of gold after the lockdown was eased. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 28: Commercial banks have imported 200 kg of gold after the lockdown was eased. Prior to this, the import of gold was completely halted. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Jewelry shops have been allowed to operate after the lockdown was eased on June 22. After that, Nepal Bankers Association imported gold upon the recommendation of the Federation of Nepal Gold and Silver Dealers Association,</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Mani Ratna Shakya, former president of the federation, informed that the 200 kg of gold was imported by the bankers’ association. “The association has already imported the gold and distributed it to the businessmen,” he said, adding, “100 kg of gold have been imported in Kathmandu valley this time while the other 100 kg have been imported to places outside the valley.” </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">District administration offices had imposed the ban in most of the districts across the country to contain the second wave of covid-19. The import of gold was halted from April 25. Shakya says that they have started importing gold after the ban was eased. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The federation had urged the banks not to import gold due to the high chances of lockdown. The banks have been given the authority to import gold in Nepal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">According to the statistics of the Department of Customs, the import of gold from mid-May to mid-June was zero. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">Altogether 3,018 kg of gold worth Rs 21.68 billion has been imported till May 14 this year. The data show that gold worth Rs 2.12 billion was imported from Turkey while the remaining gold worth Rs 18.94 billion was imported from the UAE. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The import of gold had also declined due to the lockdown imposed to control the first wave of covid-19. However, imports increased after the lockdown was lifted. Nevertheless, the import was affected again during the second phase of lockdown. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">The import of gold was below average in April. Prior to April, gold worth Rs 2.14 billion was imported monthly on average. However, gold of only Rs 1.75 billion was imported in April. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13345', 'image' => '20210628023749_20201215120431_gold.jpg', 'article_date' => '2021-06-28 14:37:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13599', 'article_category_id' => '1', 'title' => 'Reconstruction Authority Engineers Agree to Return to Work', 'sub_title' => '', 'summary' => 'June 28: Engineers of the National Reconstruction Authority (NRA) under the Central Project Implementation Unit have agreed to return to work.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 28: Engineers of the National Reconstruction Authority (NRA) under the Central Project Implementation Unit have agreed to return to work. The engineers reached an understanding with the NRA after rounds of talks and discussions with NRA representatives on Saturday.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The engineers agreed to return to work after being assured to be provided with the communication, transportation, and local allowances. Likewise, NRA has assured them of providing necessary training to the technicians.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">After the discussion, Shyam Kishore Singh, Project Director of the Central Project Implementation Unit, and Avinash Amar signed the MoU on behalf of the two parties.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Amar expressed happiness over the fulfillment of all of their demands and pledged to work on all the technical works and show progress by mid-July, reads a statement of NRA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The agreement reached between the authority and the engineers is as follows:</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">1. The Central Project Implementation Unit will take initiative to provide insurance amount to the family of Raja Shah, who has been working under the District Planning Implementation Unit working under Okhaldhunga, if he dies during his tenure.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">2. Prepare a roster of the employees (including technicians, social workers) who have worked under the authority at different times and also put it in the online portal. Also, this roster will be sent by NRA to various concerned bodies for future reference.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">3. To provide communication expenses, transportation expenses, and local allowances to the technicians as per the rules from the month of Shrawan of the current Fiscal Year 2077/78.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">4. NRA will provide refresher training to the technicians working under NRA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">5. NRA will take initiative to give recognition to the technicians and include in the 10-year goal of Nepal Grand Campaign.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">6. All the movements of the technicians under NRA will be ended from June 26 and will return to regular work.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13344', 'image' => '20210628124301_tesXamd4TN210415090728.JPG', 'article_date' => '2021-06-28 12:42:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13598', 'article_category_id' => '1', 'title' => 'World Bank to Provide Concessional Loan of $150 Million to Support Nepal’s Resilient Recovery', 'sub_title' => '', 'summary' => 'June 28: The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.', 'content' => '<p><em>Photo Courtesy: World Bank Nepal</em></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">June 28: </span></span><span style="font-size:13.5pt"><span style="font-family:Helvetica"> The Government of Nepal and the World Bank on Sunday (June 27) signed a $150 million (Rs 17.78 billion) concessional loan agreement to support Nepal’s resilient recovery from the COVID-19 pandemic.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the loan will be utilized to protect the most vulnerable, and support sustainable growth.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">Finance Secretary Sishir Kumar Dhungana and the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, Faris Hadad-Zervos, signed the agreement to this effect, reads a statement issued by the World Bank.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“The project will help Nepal build back better and greener through reforms to the tax and customs systems, public investment management, environmental regulations and debt management,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">the statement quoted Finance Secretary Sishir Kumar Dhungana as saying. “The proposed budgetary support will be utilized in the physical infrastructural projects and economic recovery sectors as per the requirement and priorities of the Government of Nepal.”</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">According to the World Bank, the first Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit further supports reforms aimed at protecting the most vulnerable and supporting business growth. Reforms in this area focus on social protection, the intergovernmental framework, and supporting access to capital for firms. It will help speed up the ongoing large development projects to create jobs, accelerate markets, and support green recovery. The financing will be provided to the Government of Nepal through budgetary support, the statement added.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:13.5pt"><span style="font-family:Helvetica">“This project will help the country achieve sustained growth during and after the COVID-19 pandemic that is inclusive, job-creating and environmentally sustainable,”</span></span> <span style="font-size:13.5pt"><span style="font-family:Helvetica">stated Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to support the government’s pandemic response to protect lives and stimulate economic recovery in Nepal.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-28', 'modified' => '2021-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '13343', 'image' => '20210628075141_203762300_10157693663166467_996050178721294899_n.jpg', 'article_date' => '2021-06-28 07:50:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13596', 'article_category_id' => '1', 'title' => 'Fuel and Vehicles worth Rs 150 Billion Imported through Birgunj Customs ', 'sub_title' => '', 'summary' => 'June 27: The imports of Nepal have increased immensely despite the coronavirus pandemic disrupting the overall production and supply chain. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The imports of Nepal have increased immensely despite the coronavirus pandemic disrupting the overall production and supply chain. According to the import data for the 11 months of the current Fiscal Year (FY 2077/78) at Birgunj, the main customs point of the country, fuel and vehicle imports have increased more during the reveiw period. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Birgunj Customs Office, fuel and vehicles worth Rs 141.14 billion have been imported between July to May this year.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The country has incurred R. 11 billion more on fuel and vehicle imports this year compared to the review period of the last fiscal year 2076/77. Chief Customs Officer at the Birgunj Customs Office Harihar Poudel said that petroleum products worth Rs 113.75 billion and vehicles worth Rs 27.38 billion have been imported by the end of June this year. According to the customs office, 18 types of vehicles including jeeps, motorcycles, trucks, and buses have been imported through the checkpoint.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Petroleum products worth Rs 107.18 billion and vehicles worth Rs 23.42 billion were imported till May in the previous fiscal year. Fuel and vehicle imports accounted for about 31 percent of the total imports from Birgunj customs as of May this year. During this period, goods worth Rs 458 billion were imported through Birgunj Customs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government imposed a lockdown for about six months from March last year to stop the spread of Covid-19. Similarly, the government has issued prohibitory order since April 29 this year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Fuel and vehicle imports were expected to decline this year due to the ban. However, the import of vehicles has increased in the last month, said Poudel. Most of the diesel and aviation fuel enter through Birgunj. Poudel informed that most of the diesel comes from the Motihari-Amalekhgunj Petroleum Pipeline.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the customs office, 828,000 kiloliters of diesel worth Rs 50.40 billion has arrived through Birgunj in the first 11 months of the current fiscal year. During this period, 284,000 kiloliters of petrol and 122,000 kiloliters of aviation fuel have entered the country. According to the customs office, 15 types of petroleum products have entered Nepal through the Birgunj checkpoint.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13342', 'image' => '20210627024332_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-06-27 14:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13597', 'article_category_id' => '1', 'title' => 'Chicken Price Jumps as Production Declines', 'sub_title' => '', 'summary' => 'June 27: The price of chicken has surged in the market with the decline in production due to the lockdown imposed by the government to curb the spread of covid-19 and disease like Newcastle.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The price of chicken has surged in the market with the decline in production due to the lockdown imposed by the government to curb the spread of covid-19 and disease like Newcastle. The recent floods and landslides in various districts have also affected the production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Many farmers have stopped producing chicken due to the fear of not being able to sell the produced chicken while the Newcastle disease in different districts also created panic among them. Chicken traders say that the production has reduced due to the floods and landslides caused by continuous rain.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the stakeholders, about 30 percent of poultry farmers have sopped raising chickens due to the lockdown, Newcastle disease as well as floods and landslides.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to Tikaram Pokhrel, former president of the Nepal Hatchery Industries Association, the production of chicken has come down from 4.5 million to 3.1 million. He said that the farmers have stopped adding chicks after the roads in different districts were blocked due to floods and landslides.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The direct impact of decline in production is seen in the price of the chicken. According to the Meat Entrepreneurs Association of Nepal, the price of broiler chicken has gone up by Rs 40 to Rs 290 per kg from Rs 330 per kg. In the retail market, the price is up to Rs 350.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Jung Bahadur BC, president of the association, says that if the production is not improved, the price of meat may increase further.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He informed that the consumption of meat has also increased as the ban has been eased to some extent. “The consumption of meat in the Kathmandu Valley was only 20 percent at the time of the ban, but it has increased to 40 percent now,” he says. Under normal circumstances, about 500,000 kg of meat is consumed daily in Kathmandu Valley.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The increase in the price of grains and medicines for feeding chicken has also affected the production. The price of soybean that is used for making chicken feed has increased from Rs 75 to Rs 88 per kg, while the price of maize has also increased from Rs 26 to Rs 32 per kg.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13341', 'image' => '20210627030211_20160613051853_20160613104208_Clipboard05.jpg', 'article_date' => '2021-06-27 15:01:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13595', 'article_category_id' => '1', 'title' => 'Upper Tamakoshi Hydropower Project to Come into Operation within July 15 ', 'sub_title' => '', 'summary' => 'June 27: The much-awaited national pride project, Upper Tamakoshi Hydropower Project, is all set to generate electricity within three weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 27: The much-awaited national pride project, Upper Tamakoshi Hydropower Project, is all set to generate electricity within three weeks. According to the national news agency (RSS), it will start generating 152 megawatts electricity from July 15. </span><br /> <span style="font-family:"Arial Unicode MS"">Necessary preparations have reached the final stage for producing electricity from two units of the project within July 15, RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS"">Project spokesperson Dr Ganesh Neupane said the trial run of the first unit has been conducted in the first phase and works are on for conducting the test run of the second unit. The project would be connected to the national grid after completing the works of the second unit. </span><br /> <span style="font-family:"Arial Unicode MS"">The 456-megawatt project is near completion almost 10 years after its construction was started. The project with largest domestic investment has reached the final phase of completion despite grappling with natural disasters and various other technical issues. </span><br /> <span style="font-family:"Arial Unicode MS"">Neupane said that necessary preparations are being done from June 27 to July 3 for feeding the electricity produced from the project to the national grid. According to him, works of managing the transmission line of the project have been forwarded. </span><br /> <span style="font-family:"Arial Unicode MS"">The 220-KV transmission line carrying power from the powerhouse of the Upper Tamakoshi Project is being connected to the sub-station located at New Khimti. </span><br /> <span style="font-family:"Arial Unicode MS"">Before this, preparations were made to connect the transmission line from this project to the Dhalkebar sub-station. </span><br /> <span style="font-family:"Arial Unicode MS"">The success of this project has raised hopes that other big projects could also be constructed with domestic investment. </span><br /> <span style="font-family:"Arial Unicode MS"">Although the initial cost of the project was estimated to be Rs 35 billion, it has now reached around Rs 80 billion in 10 years due to the increase in foreign exchange rate of the US Dollar and the interest rate, among other factors. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13340', 'image' => '20210627123145_20201206012152_1607211371.Clipboard13.jpg', 'article_date' => '2021-06-27 12:31:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13594', 'article_category_id' => '1', 'title' => 'Insurance Board Conducting Study to Expand Micro Insurance Sector', 'sub_title' => '', 'summary' => 'June 27: The Insurance Board has formed a committee to study the reason behind dismal growth of micro insurance sector. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 27: The Insurance Board has formed a committee to study the reason behind dismal growth of micro insurance sector. The board has formed a four-member committee under the coordination of Sushil Dev Subedi, the director of the board. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Members of the committee include Punam Gywali, Deputy Director of the board, Chanki Chhetri, CEO of Sagarmatha Insurance and Poshakraj Poudel, CEO of Citizens Life Insurance Company. The committee has already started its study into the issue and will be submitting a report after the completion of the study in twenty days. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Raju Raman Poudel, Managing Director of the board, said that micro insurance has not been able to expand its business so a study committee has been formed to study this matter. The committee will study into the issues that are preventing the growth of the micro insurance sector and find out the mechanism to be adopted to expand its growth. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">At present, micro insurance services are accessible to 23 percent of the population. The government wants to increase its access to 33 percent of the population. To achieve the target, the board has been working on various issues. In this regard, the board has come up with the committee to figure out strategies to expand the micro insurance sector. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"If the business of micro insurance could be expanded, it helps to increase access to insurance. So study is being conducted with an objective to expand people's reach to insurance," he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">However there is not any intention to award licenses to micro insurance companies. "The study is not intended to provide license to micro insurance company. If the study implies a need for a separate company, it will be established but the board has not given any consideration to it as yet," said Poudel. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-27', 'modified' => '2021-06-27', 'keywords' => '', 'description' => '', 'sortorder' => '13339', 'image' => '20210627122025_20200417105653_Beema-Samiti.jpg', 'article_date' => '2021-06-27 12:19:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
