Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human…
Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human…
Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the…
Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and…
…
Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be…
The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on…
Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal…
Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern…
Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa…
Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the…
Kathmandu: Swedish Ambassador to Nepal, Jan Thesleff, is visiting Kathmandu from May 14 to 17 together with a delegation of Swedish businesses and government officials from the Swedish Energy…
Kathmandu: The draft of the 16th Five-Year Periodic Plan (2081/82-2085/86) has been sent to the Council of Ministers for final approval.…
Kathmandu: Nepal’s legal and institutional reforms under fiscal federalism and public financial management at the provincial and local levels have continued but at a moderate pace, says the World Bank’s latest…
Kathmandu: Nepali students opting to study abroad have spent Rs 95.85 billion for foreign education in the first nine months of the current fiscal year, which is far more than the entire income of Rs 60.45 billion generated by the tourism industry of Nepal in the review…
New York: Boeing has been in the headlines lately following a series of problems with its aircraft, with the most recent incidents in Turkey and Senegal, the AFP…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Presenting the government's policies and programmes for the upcoming fiscal year in the joint session of the federal parliament on Tuesday, President Ram Chandra Paudel said that the federal hospitals would be restructured on the basis of their workloads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Bir Hospital, National Trauma Centre, Kanti Children's Hospital and some other hospitals having enough human resources will run OPD services in two shifts while the infrastructures of Kanti Children's Hospital would be upgraded to ensure state-of-the-art services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Kanti Children's Hospital will be equipped with the construction of additional infrastructures and upgradation. Shahid Gangalal National Heart Centre will be developed as an institution capable of producing specialists in cardiology," reads the announcement made by President Paudel. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Likewise, the upcoming year's policies and programmes stated that the federal hospitals or health science academies at the provincial level will be upgraded to 500 beds respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Human organ transplant institutions and services will be upgraded and expanded. Special programmes will be conducted for safe motherhood and disease control. A free screening programme for prevention of cervical cancer and vaccination services for girls in the age group of 10 to 14 years will be extended to district hospitals," the President read while unveiling the policies and programmes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the announcement, the public health surveillance system will be strengthened for pandemic prevention, control, and preparedness and response to health emergencies and the health personnel will be deployed at border and entry points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"A separate institutional arrangement will be made for the prevention of non-communicable disease. An action plan based on the "One Health Policy" will be implemented to minimize probable adverse effects on human health from animals, plants, and the environment," reads the policies and programmes of the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => 'hospital, service, OPD, out, door, patient, two, shift, government, Nepal', 'description' => '', 'sortorder' => '20711', 'image' => '20240515103139_20240514091928_20230830033211_Hospital.jpg', 'article_date' => '2024-05-15 10:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20983', 'article_category_id' => '1', 'title' => 'Budget to Align Announced Polices and Programmes: Finance Minister', 'sub_title' => '', 'summary' => 'Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 15: Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Talking to the media after the announcement of the upcoming fiscal year's policies and programmes by the President, Finance Minister Pun argued that there will not be incompatibility in the government's policies and programmes, and budget. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"There used to be complaints about the incompatibility between the budget, and policies and programmes but it will not happen this time," Finance Minister assured. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun added that the government's policies and programmes are good and the budget will be brought to implement and supplement them for the development of the country. </span></span></p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20710', 'image' => '20240515085242_collage (1).jpg', 'article_date' => '2024-05-15 08:51:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20981', 'article_category_id' => '1', 'title' => 'Government to Undertake Policy Intervention to Address Issues of Cooperatives', 'sub_title' => '', 'summary' => 'Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives. This commitment was reaffirmed through its policies and programs for the upcoming fiscal year (FY 2024-25), presented by President Ram Chandra Paudel before a joint sitting of the Federal Parliament on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Paudel stated that the government will come up with legal provisions as the policy level to tackle the challenges faced by banks, financial institutions, and cooperatives. According to the outlined policies and programs, the government aims to promote healthy competition, supervision, and regulation by incorporating feedback received from various stakeholders to address issues within these institutions and the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the provision of refinancing and restructuring of loans for microfinance borrowers and adapting the cooperative policy to current needs. Additionally, cooperatives will be required to connect to the Cooperative and Poverty-related Management Information System. Those cooperatives with government ownership will receive support for integration, while savings and credit cooperatives will be encouraged to consider mergers, aligning with the government’s new policies and programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To consolidate small capital for large projects, the government aims to integrate scattered resources and involve private investment companies in operating and managing defunct industries such as the Gorakhkali Rubber Industry, Butwal Spinning Mills, and Hetauda Garment Factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the government intends to pursue policies to ensure fair, balanced, and transparent revenue distribution. Grants will be allocated based on objective criteria, and integrated laws will be formulated to govern the mobilization and sharing of natural resources, investment, and profit-sharing among the three tiers of government, as well as to resolve disputes among them.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In an effort to mobilize innovative instruments of development finance and encourage private capital mobilization, the government has adopted additional legal provisions. It promises to enact legal and structural interventions to improve both domestic and external investment climates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the government pledged to streamline the approval process for domestic and foreign investments, making it more convenient and predictable through the implementation of an automated digital system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Poudel emphasized that Nepal's country rating will be determined in the upcoming fiscal year, signaling the government's commitment to facilitating foreign loans and other mixed forms of investment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20708', 'image' => '20240514065714_RS-KTM-11715679379248copy - Copy.jpg', 'article_date' => '2024-05-14 18:56:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20980', 'article_category_id' => '1', 'title' => 'Two Climbers from Mongolia go Missing during Everest Expedition', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kathmandu: Two citizens from Mongolia have gone missing during an expedition to Sagarmatha (Mt Everest).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Tourism, those missing have been identified as Usukhjargal Tsedendamba, 31 and Purevsuren Lkhagvajav, 53. They both are males. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> The department was informed about the incident by its Field Office at the Everest Base Camp. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> They were last seen ascending the peak of Mt Everest from Camp IV at 8:45 am on May 13 by another expedition team. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The search operation for them is underway at potential locations with the help of rescue management agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Their expedition was arranged by the Eight K Expeditions Pvt Ltd. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20707', 'image' => '20240514054707_20230518094613_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2024-05-14 17:46:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20979', 'article_category_id' => '1', 'title' => 'Post-Earthquake Reconstruction in Western Nepal to Cost Rs 63.58 Billion', 'sub_title' => '', 'summary' => 'Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Disaster Risk Reduction and Management Authority (NDRRMA) conducted a preliminary damage assessment valuing the destruction at approximately Rs 58 billion, with projected reconstruction costs exceeding Rs 63.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bharat Mani Pandey, Chief of NDRRMA’s Policy, Planning, and Monitoring Division, confirmed that reconstruction efforts are advancing following the completion of the preliminary study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An earthquake measuring 6.4 on the Richter scale, centered at Ramidanda in Jajarkot district, struck on November 3, 2023, claiming 154 lives and injuring 366 others. Another tremor, measuring 5.3 on the Richter scale, hit Bajhang on October 3, 2023, resulting in one fatality and 30 injuries. Prior to these events, an earthquake with a magnitude of 6.6 on the Richter scale occurred in Doti on November 8, 2022, causing six fatalities and eight injuries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NDRRMA data, these earthquakes damaged 95,787 houses, with an estimated value of Rs 43.39 billion. Additionally, 204 school buildings, 70 government and public buildings, 11 cultural heritage sites, nearly 200 kilometers of roads, and 121 irrigation projects were also affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Jajarkot earthquake caused the most significant human and property damage, with over 86,000 houses affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA's preliminary assessment estimates a total reconstruction cost of Rs 63.58 billion, allocated as follows: Rs 52.46 billion for private houses, government buildings, and health, education, and cultural structures; Rs 7.18 billion for other infrastructure sectors; and Rs 1.73 billion for the enterprise sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The reconstruction process is underway, with plans to seek approval from the Finance Ministry for the required budget after finalizing the detailed damage assessment concept. This will facilitate retrofitting, reconstruction, and resettlement of earthquake-damaged structures in Jajarkot, Bajhang, and Doti.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Anil Pokharel, NDRRMA Chief Executive, confirmed that reconstruction activities will proceed, as the Disaster Risk Reduction and Management Executive Committee, chaired by the home minister, has approved the 'Retrofitting, Reconstruction, and Resettlement Grant Procedure for Private Houses of Disaster Affected, 2081'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Beneficiaries will be grouped into 'A', 'B', and 'C' categories, with housing reconstruction activities prioritized accordingly. Local levels will play a significant role in the process, including preliminary loss recording and beneficiary identification by the Local Disaster Risk Reduction and Management Committees. Agreements between beneficiaries and ward chairpersons will follow, with a reconstruction completion timeline of two years post-agreement signing. -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20706', 'image' => '20240514041547_20231105112523_HK-Jajarkot-IMG_9219.jpg', 'article_date' => '2024-05-14 16:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20978', 'article_category_id' => '1', 'title' => 'NEPSE Posts Significant Gain of 28.62 Points to Close at 2027.51', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 14: The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 320 scrips were traded on the NEPSE through 59,856 transactions. A total of 9,855,285 shares changed their hands resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited(CHDC) led the turnover with the total transaction of Rs 15 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha(SAMAJ), Upakar Laghubitta Bittiya Sanstha Limited(ULBSL) and Unique Nepal Laghubitta Bittiya Sanstha Limited(UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Urja Bikas Company Limited(HURJA) incurred the maximum loss of 4.64%, closing at a market price of Rs 290 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector closed in the positive territory. Microfinance Index and HydroPower Index recorded the highest gains at 3.44% and 3.22% respectively. Trading Index experienced the least gain of 0.03%. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20705', 'image' => '20240514034002_collage (11).jpg', 'article_date' => '2024-05-14 15:38:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20977', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the Office of the Prime Minister and Council of Ministers on Tuesday approved the policies and programmes, said Minister for Communications and Information Technology and Spokesperson of the government, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel is scheduled to present the policies and programmes of the upcoming fiscal year in a joint session of the Federal Parliament on Tuesday afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also endorsed the 16th five-year plan, shared Minister Sharma. The National Planning Commission had sent the draft of the 16th periodic plan (2081/81-2085/86) to the Office of the Prime Minister and Council of Ministers on Sunday for final endorsement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20704', 'image' => '20240514025910_20240115115317_pm.jpg', 'article_date' => '2024-05-14 14:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20976', 'article_category_id' => '1', 'title' => 'Auto Traders Rush for Import of EVs Anticipating Tax Hike ', 'sub_title' => '', 'summary' => 'Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Government officials are suspicious about a significant surge in the import of both four-wheelers and two-wheelers powered by electricity in recent times. This uptick is believed to be driven by apprehensions of impending tax hikes in the budget for the upcoming fiscal year (FY), slated to be announced on May 28.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">The import of electric vehicles has increased due to the lower tax rates compared to vehicles powered by petroleum products, significantly impacting the government's revenue from vehicle imports</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the data of the Department of Customs, the government collected revenue of Rs 90 billion from the import of vehicles and their parts in the fiscal year 2078/79, which dropped to Rs 33.33 billion in the last fiscal year 2079/80. In the first nine months of the current fiscal year 2080/81, the department has collected Rs 39.89 billion in revenue from import of vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">As revenue from vehicle imports, a primary source of government income, has significantly decreased, importers of electric vehicles are concerned about potential tax hikes in the upcoming budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">A representative of SPG Automobile, the seller of the Omoda-5 electric vehicle, told New Business Age that he strongly believes that the tax rate imposed on EVs will increase to some extent due to the increase in the import of electric vehicles and the decrease in the import of petroleum-based vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Amidst such suspicions of the importers, the northern customs offices are busy clearing the customs of the growing number of electric vehicles. Nepal also imports the largest number of electric vehicles from China, which surpasses the world in the production and export of electric vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Dayanand KC, Chief Customs Officer of Tatopani Customs Office, told New Business Age, "Electric Vehicles are being imported at the rate of 50/60 vehicles per day. A total of 416 electric vehicles in the month of Chaitra (mid-March to mid-April) while more than 600 EVs have arrived in the month of Baisakh (mid-April to mid-May)."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, 70 vehicles entered through the checkpoint on Saturday alone. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Last year only 219 vehicles entered through this point. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"The increase in import of electric vehicles has also disturbed other vehicles used in transporting goods at the border," KC said, adding, "As of Saturday, 1,136 vehicles have arrived from China this year."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, there is a significant contribution to the revenue of Tatopani Customs due to the high volume of electric vehicles imported in the current year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"Tatopani Customs is collecting the most revenue from electric vehicles and the contribution is expected to be even more this year," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the customs officials, the importers may have imported a large number of electric vehicles in a hurry due to fear that there will be a policy change in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Similarly, the import of electric vehicles through Rasuwagadhi customs has also increased. Rasuwagadhi Customs Office Chief Ram Prasad Pathak said that BYD cars, Joy Long micro bus, King Long micro electronic bus and vans are entering through the checkpoint on a daily basis. According to him, 50 such vehicles enter through Rasuwagadhi Customs daily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the Rasuwagadhi Customs Office, 3,981 electric four-wheelers have been imported from Rasuwagadhi as of Sunday of the current fiscal year. The customs office has collected revenue of Rs 4.19 billion from the import of EVs. In the last fiscal year, 2,073 such vehicles entered through the same channel from which the government collected Rs 1.13 billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"We have not achieved the revenue collection target yet because the target has been set quite high. However, the contribution of electric vehicles to the revenue is still high," Pathak told NBA.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20703', 'image' => '20240514020650_20200317060256_Clipboard08.jpg', 'article_date' => '2024-05-14 14:06:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20975', 'article_category_id' => '1', 'title' => 'Government Seeks Proposals for Gold Exploration in Rolpa', 'sub_title' => '', 'summary' => 'Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district. The government on Monday called for proposals to issue a license for detailed exploration of gold mines in the area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government is seeking applications from the private sector for the detailed study and exploration after a preliminary study by the Department of Mines and Geology found traces of gold on the rocks in the rural municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition to exploration of gold, the department has called for proposals to issue permits for extracting limestone from three mines along with extraction of granite, dolomite, magnesite and iron from one mine each in different parts of the country. The department has also published a notification for further exploration of two phosphorite mines.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is mentioned in the notification that the application for exploration permit should be submitted within 45 days and for mining permit within 60 days from the date of publication of the notification.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Shiv Kumar Baskota, under-secretary of the mineral resources branch of the department, the government has so far issued three permits for gold exploration. Among them, two permits have been issued for exploration in Rolpa's Sunchahari Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The newly issued proposal is for exploration in a new place within Sunchhahari Rural Municipality," Baskota told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, Vienna Multipurpose Group Pvt Ltd and Classic Minerals Pvt Ltd have been given permission to explore gold within Sunchhahari Rural Municipality, while Sangrila Minerals Pvt Ltd has been given permission to explore gold in Swargadwari area of Pyuthan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the officials of the department, they has been issuing permits to search for two types of gold mines. First kind involves the permit for exploring the primary source of gold found in the rock and the second one is to explore the source of gold found in the rivers. Sangrila Minerals has been given permission to search for gold that has flowed into the river.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Baskota, the department had issued permits in the past to search for gold on the banks of the Karnali River in Bardiya, on the banks of the Madi River in Pyuthan and on the banks of the Rapti River in Dang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Some domestic companies along with Nepali companies with Chinese investment and some other companies were issued exploration permits," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such permission is given for a period of years. “Most of them could not find the source and quit,” said Baskota. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, primary gold mines have not been found in any other place except Sunchhahari rural municipality of Rolpa.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, a proposal has been invited to extract limestone in Kupinde rural municipality of Salyan Rorang rural municipality of Dhading and Sitganga municipality of Arghakhanchi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, applications have been requested to operate granite mine in Roshi Rural Municipality of Kavrepalanchok District, dolomite in Tuwachung Municipality of Khotang, magnesite in Triyuga Municipality of Udayapur and iron mine in Bhume Rural Municipality of Rukum East.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the department, applications have also been requested for further exploration of phosphorite in Puchaudi Municipality of Baitadi and Dogadkedar Rural Municipality of the same district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'gold, exploration, permit, Nepal, Rolpa, Rukum, department, license, Chinese', 'description' => '', 'sortorder' => '20702', 'image' => '20240514012612_golddddddd.jpg', 'article_date' => '2024-05-14 13:24:58', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20974', 'article_category_id' => '1', 'title' => 'President to Unveil Government’s Policy and Programme in a Joint Meeting of Federal Parliament Today', 'sub_title' => 'Nepali Congress Decides not to Obstruct Parliament', 'summary' => 'Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress has been obstructing parliamentary session demanding the formation of a probe committee against the cooperative scam involving Deputy Prime Minister and Home Minister Ravi Lamichhane.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to media reports, the parliamentary party meeting of the main opposition party held at Singha Durbar on Tuesday morning, however, decided to allow the president to present the policy and programme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As per the schedule prepared by the Parliament Secretariat, President Ram Chandra Paudel will address the joint meeting of the federal parliament at 3:00 pm on Tuesday to announce the government's policy and programme for the fiscal year 2081/082 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, Deputy Spokesperson of Federal Parliament Secretariat Dasharath Dhamala shared that preparations for the joint meeting have been completed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federal Parliament Secretariat has extended invitations to Vice President Ramsahaya Prasad Yadav, Chief Justice Bishwambhar Prasad Shrestha and other dignitaries to attend the joint meeting of the House of Representatives (HoR) and National Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the main opposition Nepali Congress lawmaker Ramnath Adhikari said that the government's policy and programme should address the issues of people's livelihood, massive out-bound migration of youth and underdevelopment in the rural parts of the country, RSS reported. </span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20701', 'image' => '20240514115805_Parliament.jpg', 'article_date' => '2024-05-14 11:56:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20973', 'article_category_id' => '1', 'title' => 'Swedish Delegation Attending EU-Nepal Business Forum ', 'sub_title' => '', 'summary' => 'Kathmandu: Swedish Ambassador to Nepal, Jan Thesleff, is visiting Kathmandu from May 14 to 17 together with a delegation of Swedish businesses and government officials from the Swedish Energy Agency. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: Swedish Ambassador to Nepal, Jan Thesleff, is visiting Kathmandu from May 14 to 17 together with a delegation of Swedish businesses and government officials from the Swedish Energy Agency. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the visit, Ambassador Thesleff will participate in the second edition of the EU-Nepal Business Forum taking place on May 15-16, and meet with the ministers, including Minister for Foreign Affairs Narayan Kaji Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The business delegation includes companies such as Hexagon, Hitachi Energy and Saab. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the establishment of diplomatic ties between Sweden and Nepal in June 1960, the bilateral relations have prospered to a strong partnership founded on mutual respect, understanding and friendship over the decades, according to a press release issued by the Swedish Embassy in New Delhi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The countries have an ongoing cooperation on climate change and matters related to Article 6 of the Paris Agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“By participating in the EU-Nepal Business Forum, Sweden aims to further increase trade between our two nations and explore potential business opportunities involving Swedish and Nepalese companies," Ambassador Thesleff said, expressing hope that the bilateral cooperation with Nepal would be strengthened on climate action and the advancement of the sustainable development goals. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20700', 'image' => '20240514110455_swe.jpg', 'article_date' => '2024-05-14 11:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20972', 'article_category_id' => '1', 'title' => 'Cabinet Approves Draft of 16th Five-Year Periodic Plan with Ambitious Plans ', 'sub_title' => '', 'summary' => 'Kathmandu: The draft of the 16th Five-Year Periodic Plan (2081/82-2085/86) has been sent to the Council of Ministers for final approval. ', 'content' => '<p><span style="font-size:18px">Kathmandu: A meeting of the Council of Ministes on Tuesday approved the final draft of the 16th Five-Year Periodic Plan (2081/82-2085/86). The National Planning Commission (NPC) had sent the draft of the sixteenth periodic plan with the major goals of 'Good Governance, Social Justice and Prosperity' to the Office of the Prime Minister and the Council of Ministers on Sunday. <br /> The periodic plan to be implemented from the next fiscal year 2081/82 carries some ambitious targets such as achieving an economic growth rate of 7.3 percent and per capita income of USD 2,413. In the current fiscal year, the projected economic growth rate of Nepal is 3.9 percent and the per capita income is USD 1,456. </span></p> <p><span style="font-size:18px">Similarly, the five-year plan targets reducing absolute poverty to 20.3 percent and consumer inflation to 5 percent by the fiscal year 2085/86. Similarly, it also plans to increase Nepal's human development index to 0.650 from the current 0.601, human wealth index from 76.3 to 78 and to reduce the economic and environmental risk index from 29.7 to 24. </span></p> <p><span style="font-size:18px">The plan aims to increase the average life expectancy of Nepalis to 73 years from the existing 71.3 years within five years. The number of families with access to a health facility within half an hour's distance is currently 77 percent, and the target is to increase it to 90 percent, literacy rate to 85 percent and reduce the unemployment rate from 11.4 percent to 5 percent. </span></p> <p><span style="font-size:18px">The periodic plan aims to take the hydropower production, which is currently around 3,300 MW, to 11,769 MW within five years. Similarly, access to the Internet will become 90 percent while 85 percent of families will have access to banks and financial institutions. </span></p> <p><span style="font-size:18px">A goal has been set to bring the rule of law index from 0.52 to 0.80, the global competitiveness index from 52 to 65 and the corruption reduction awareness index from 35 to 43. The periodical plan includes sectoral indicators, transformational strategy and major interventions to achieve the set goals and targets. </span></p> <p><span style="font-size:18px">According to the NPC, the draft has been prepared with transformational programs along with sectoral strategies. The updated planning includes transformational strategies, major interventions and quantitative targets. </span></p> <p><span style="font-size:18px">The sectoral headings include Strengthening Macroeconomic Fundamentals and Rapid Economic Growth; Enhancing Production, Productivity and Competitiveness; Decent Job and Productive Employment; Educated, Skilled and Healthy Human Capital Formation; Quality Infrastructure and Integrated Transport Management System; Modern, Sustainable and Systematic Urbanization and Settlements; Social Empowerment, Inclusion and Mobilization and Development and Reinforcement of Provincial and Local Economy and Expansion of Formal Sector. </span></p> <p><span style="font-size:18px">Likewise, Balanced Development for Reducing Poverty and Inequality and Creating an Equitable Society; Efficient Fiscal Management and Capital Expenditure Capacity Enhancement; Governance Reform and Promoting Good Governance' LDC Graduation and Beyond, and Sustainable Development Goals and Green Economy are the other sectoral themes for the 16th Periodic Plan. </span></p> <p><span style="font-size:18px">As targeted, the revenue-GDP ratio will be increased to 24 per cent from the current ratio of 17.8 percent and the federal expenditure will be increased to 32 per cent in ratio to GDP from 26.5 percent at present. </span></p> <p><span style="font-size:18px">Similarly, the 16th periodic plan has targeted not to exceed the sovereign loan from 45 percent of the GDP while the trade deficit would be reduced to 24 per cent in ratio to GDP from 27 per cent at present. </span></p> <p><span style="font-size:18px">Likewise, the inflow of remittance would be maintained between 22 to 24 per cent of the GDP. </span></p> <p><span style="font-size:18px">The 16th periodic plan has set some ambitious targets for increasing domestic production and productivity including establishing 140 industrial zones, establishing one more special economic zone and increasing the power production and consumption as well. </span></p> <p><span style="font-size:18px">As planned, electricity worth Rs 41 billion would be exported year-on-year by the end of the 16th periodic plan and the energy sector would be promoted to reduce the overall trade deficit. </span></p> <p><span style="font-size:18px">The periodic plan has targeted to create 1.2 million jobs in a year and increase the minimum wages of the workers to Rs 25,000 per month while bringing the number of social security beneficiaries to 2 million. </span></p> <p><span style="font-size:18px">A plenary meeting of the National Planning Commission held in early May 2023 had approved the 16th five-year periodic plan (2081/82-2085/86). </span></p> <p><span style="font-size:18px">The draft of the 16th plan has the objective of maintaining good governance in political, administrative and judicial sectors, maintaining social justice in health, education, employment sectors, and achieving prosperity in social life, economic development and national economy. </span></p> <p><span style="font-size:18px">The new periodic plan has determined a strategy of achieving good governance, social justice and prosperity through structural transformation by identifying, addressing and resolving structural obstacles seen in development activities. </span></p> <p><span style="font-size:18px">The structural transformation strategy has incorporated the issues of adopting latest technology and management methods based on research and development, producing decent, productive and inclusive employment. </span></p> <p><span style="font-size:18px">As per the draft, the government will adopt a policy to run national skill development and employment programs in collaboration with private and non-government sectors while priority would be given for the empowerment of marginalized communities and promoting inclusive employment through affirmative action. </span></p> <p><span style="font-size:18px">"Employment will be created within the country by producing skilled and capable human resources through the utilization of demographic dividends in all three-levels of the government," reads the concept paper of the periodic plan. A strategy has been adopted to identify new destination countries with high returns along with safe and secured work for foreign employment and signing of bilateral labor agreements.</span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'Periodic, Plan, Draft, National, Planning, Commission, Index, growth, economy, human, development, poverty', 'description' => '', 'sortorder' => '20699', 'image' => '20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-14 10:25:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20971', 'article_category_id' => '1', 'title' => 'Fiscal Federalism Progressing at a Moderate Pace in Nepal: WB Report', 'sub_title' => 'Nepal Fiscal Federalism Update 2024 Recommends Further Reforms to Strengthen Outcomes', 'summary' => 'Kathmandu: Nepal’s legal and institutional reforms under fiscal federalism and public financial management at the provincial and local levels have continued but at a moderate pace, says the World Bank’s latest report.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Nepal’s legal and institutional reforms under fiscal federalism and public financial management at the provincial and local levels have continued but at a moderate pace, says the World Bank’s latest report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Nepal Fiscal Federalism Update 2024 published by the World Bank, a reduction of available financial resources in fiscal year 2023 for provincial and local governments, mainly due to a decrease in federal revenue, led to the first fiscal deficit at the subnational level since the outset of fiscal federalism in 2017. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, the World Bank said that the Fiscal Federalism Coordination Division at the Ministry of Finance was designated to coordinate public financial management reform efforts and the preparation and implementation of a Fiscal Federalism Roadmap to enhance the outcomes of fiscal federalism and public financial management including improved revenue generation for all three tiers of government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the World Bank, its latest report provides a comprehensive review of the progress of fiscal federalism in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The recommendations are well aligned with our national-level vision on smoothing the fiscal transfers to help subnational governments carry out their responsibilities effectively. The report also informs and supports our ongoing efforts to clarify responsibilities among the three tiers of government and advance fiscal federalism,” the World Bank quoted Chief Secretary Dr. Baikuntha Aryal as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Building on the first edition of the Nepal Fiscal Federalism Update, the 2024 edition explores in-depth the key pillars of fiscal federalism in Nepal: Revenue Assignment and Administration; Expenditure Assignment and Administration; Inter-Governmental Fiscal Transfers; Borrowing and Capital Finance; and Fiscal Revenue from Natural Resources. It recommends specific measures to upgrade the Inter-Governmental Fiscal Transfer system and establish a consolidated public financial management performance database that includes data from the subnational levels to enhance evidence-based decision making and transparency, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The report highlights the need to upgrade institutional arrangements for the Intergovernmental Fiscal Transfers system to make the transfers more needs-based and timely, and to increase the fiscal autonomy of provincial and local governments, in order to improve fiscal federalism outcomes,” said Balananda Paudel, chairman of the National Natural Resources and Fiscal Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The report also recommends strengthening provincial and local-level institutional arrangements for fiscal federalism and public financial management operations, including actions to improve budget credibility to improve delivery of services by subnational governments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Fiscal Federalism is a foundation for sustained service delivery by provincial and local governments. They need adequate financial resources and the ability to make spending decisions at the subnational level, in the spirit of federalism and the Constitution,” said Faris Hadad-Zervos, World Bank’s country director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to supporting the Government of Nepal, in close collaboration with other development partners, to further solidify fiscal federalism in Nepal.”</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'World, Bank, Nepal, Fiscal, Federalism, update, report', 'description' => '', 'sortorder' => '20698', 'image' => '20240513022618_World.jpg', 'article_date' => '2024-05-13 14:25:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20970', 'article_category_id' => '1', 'title' => 'Nepali Students Spent Over Rs 95 Billion for Education Abroad this Year', 'sub_title' => '', 'summary' => 'Kathmandu: Nepali students opting to study abroad have spent Rs 95.85 billion for foreign education in the first nine months of the current fiscal year, which is far more than the entire income of Rs 60.45 billion generated by the tourism industry of Nepal in the review period.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Nepali students opting to study abroad have spent Rs 95.85 billion for foreign education in the first nine months of the current fiscal year, which is far more than the entire income of Rs 60.45 billion generated by the tourism industry of Nepal in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank, the travel payments under the service account increased 42.5 percent to Rs 143.22 billion, including Rs 95.85 billion for education. Such payments were Rs 100.54 billion and Rs 67.19 billion respectively in the same period of the previous year, states the Current Macroeconomic and Financial Situation Report of Nepal unveiled by the central bank on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, travel income under the service account increased 40 percent to Rs 60.45 billion in the review period which was Rs 43.17 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, net services income remained at a deficit of Rs 52.23 billion in the review period compared to a deficit of Rs 63.91 billion in the same period of the previous year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'Nepal, Rastra, Bank, report, macroeconomic, financial, situation, central, education, tourism, service, net, billion, deficit, dollar, US', 'description' => '', 'sortorder' => '20697', 'image' => '20240513020732_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-13 14:05:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20967', 'article_category_id' => '1', 'title' => 'What's Behind the Wave of Recent Incidents on Boeing Planes?', 'sub_title' => '', 'summary' => 'New York: Boeing has been in the headlines lately following a series of problems with its aircraft, with the most recent incidents in Turkey and Senegal, the AFP reported.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New York: Boeing has been in the headlines lately following a series of problems with its aircraft, with the most recent incidents in Turkey and Senegal, the AFP reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The French news agency published a news report citing experts that the episodes, which follow a near-disastrous panel blowout on an Alaska Airlines jet in January, point to production and maintenance issues. According to the experts, they don't see an obvious pattern behind the myriad incidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Rash of incidents</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US plane maker has been under scrutiny since January 5, when a Boeing 737 MAX 9 operated by Alaska Airlines made an emergency landing after a fuselage panel blew out, somehow avoiding serious injuries in an incident that safety officials say could have been catastrophic, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">United Airlines has experienced recent issues on various flights involving Boeing planes, as has Southwest Airlines, which in early April had an engine fire on one flight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Thursday, a Boeing 737-300 skidded off a runway in Senegal, resulting in 11 injuries, including four that were serious.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">That followed a Wednesday incident in Istanbul in which a Boeing 767 cargo plane belonging to FedEx landed on its nose after its front landing gear failed to deploy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such a confluence of incidents is "pretty rare" within air travel, aviation expert Bertrand Vilmer told AFP, describing the myriad "abnormal" problems as reflecting "an alignment of unfavorable planets."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Alternative causes </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aviation experts usually look to three possible explanations for problems, according to AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There can be a design defect, as with the two fatal crashes on 737 MAX jets in 2018 in Indonesia and 2019 in Ethiopia that involved a flaw in a flight stabilizing system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aviation watchers have pointed to a production defect as the likely source of the Alaska Airlines incident, which entailed a Boeing 737 MAX 9 that had only been delivered in October.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A preliminary report by the National Transportation Safety Board published in February found that four bolts meant to help secure the panel that blew off were missing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A third possible cause would be insufficient maintenance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While design and production are the responsibility of the plane maker, the airline is in charge of keeping up the plane once it receives it, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Once the aircraft is delivered, Boeing has nothing to do with it anymore" in relation to maintenance, Richard Aboulafia of AeroDynamic Advisory told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Safest form of transport? </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notwithstanding the recent spate of incidents, aviation experts point to a strong safety record overall.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We haven't had a single casualty in the entire US airline industry in way over a decade, despite millions of people flown," AFP quoted Aboulafia as saying. "That's incredible."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aboulafia calls modern flying "the safest form of transport ever created by people," noting that "everyday, hundreds of people get killed on the roads."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Boeing's rival, Airbus, has not been completely spared of difficulty. Hundreds of planes produced by the European company are being taken out of service to check for microscopic "contamination" of metals in engines made by Pratt & Whitney.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Airbus also had a public dispute with Qatar Airways involving the degradation of exterior plane surfaces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But there have been fewer such issues at Airbus and not one incident that drew a comparable level of attention as Alaska Airlines, experts said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Every incident that has occurred on Boeing airplanes this year has made headlines, suggesting that Boeing airplanes are unsafe," said a note from equity research firm Bernstein.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The reality is that the number of incidents in the US on Airbus and Boeing airplanes so far this year is proportional to the number of airplanes in the fleets of US carriers."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US commercial fleet currently has about 4,800 planes, with about 60 percent Boeing planes, according to Cirium, an aviation analytics firm. -- AFP</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'Boeing, aircraft, safety, transport, glitches, Airbus, fatal, accidents, maintenance, pattern, disaster', 'description' => '', 'sortorder' => '20695', 'image' => '20240513073023_Boeing_TAAG_Angola_Airlines.jpg', 'article_date' => '2024-05-13 07:29:33', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20984', 'article_category_id' => '1', 'title' => 'Big Hospitals to Provide OPD Services in Two Shifts', 'sub_title' => '', 'summary' => 'Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Presenting the government's policies and programmes for the upcoming fiscal year in the joint session of the federal parliament on Tuesday, President Ram Chandra Paudel said that the federal hospitals would be restructured on the basis of their workloads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Bir Hospital, National Trauma Centre, Kanti Children's Hospital and some other hospitals having enough human resources will run OPD services in two shifts while the infrastructures of Kanti Children's Hospital would be upgraded to ensure state-of-the-art services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Kanti Children's Hospital will be equipped with the construction of additional infrastructures and upgradation. Shahid Gangalal National Heart Centre will be developed as an institution capable of producing specialists in cardiology," reads the announcement made by President Paudel. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Likewise, the upcoming year's policies and programmes stated that the federal hospitals or health science academies at the provincial level will be upgraded to 500 beds respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Human organ transplant institutions and services will be upgraded and expanded. Special programmes will be conducted for safe motherhood and disease control. A free screening programme for prevention of cervical cancer and vaccination services for girls in the age group of 10 to 14 years will be extended to district hospitals," the President read while unveiling the policies and programmes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the announcement, the public health surveillance system will be strengthened for pandemic prevention, control, and preparedness and response to health emergencies and the health personnel will be deployed at border and entry points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"A separate institutional arrangement will be made for the prevention of non-communicable disease. An action plan based on the "One Health Policy" will be implemented to minimize probable adverse effects on human health from animals, plants, and the environment," reads the policies and programmes of the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => 'hospital, service, OPD, out, door, patient, two, shift, government, Nepal', 'description' => '', 'sortorder' => '20711', 'image' => '20240515103139_20240514091928_20230830033211_Hospital.jpg', 'article_date' => '2024-05-15 10:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20983', 'article_category_id' => '1', 'title' => 'Budget to Align Announced Polices and Programmes: Finance Minister', 'sub_title' => '', 'summary' => 'Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 15: Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Talking to the media after the announcement of the upcoming fiscal year's policies and programmes by the President, Finance Minister Pun argued that there will not be incompatibility in the government's policies and programmes, and budget. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"There used to be complaints about the incompatibility between the budget, and policies and programmes but it will not happen this time," Finance Minister assured. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun added that the government's policies and programmes are good and the budget will be brought to implement and supplement them for the development of the country. </span></span></p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20710', 'image' => '20240515085242_collage (1).jpg', 'article_date' => '2024-05-15 08:51:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20981', 'article_category_id' => '1', 'title' => 'Government to Undertake Policy Intervention to Address Issues of Cooperatives', 'sub_title' => '', 'summary' => 'Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives. This commitment was reaffirmed through its policies and programs for the upcoming fiscal year (FY 2024-25), presented by President Ram Chandra Paudel before a joint sitting of the Federal Parliament on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Paudel stated that the government will come up with legal provisions as the policy level to tackle the challenges faced by banks, financial institutions, and cooperatives. According to the outlined policies and programs, the government aims to promote healthy competition, supervision, and regulation by incorporating feedback received from various stakeholders to address issues within these institutions and the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the provision of refinancing and restructuring of loans for microfinance borrowers and adapting the cooperative policy to current needs. Additionally, cooperatives will be required to connect to the Cooperative and Poverty-related Management Information System. Those cooperatives with government ownership will receive support for integration, while savings and credit cooperatives will be encouraged to consider mergers, aligning with the government’s new policies and programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To consolidate small capital for large projects, the government aims to integrate scattered resources and involve private investment companies in operating and managing defunct industries such as the Gorakhkali Rubber Industry, Butwal Spinning Mills, and Hetauda Garment Factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the government intends to pursue policies to ensure fair, balanced, and transparent revenue distribution. Grants will be allocated based on objective criteria, and integrated laws will be formulated to govern the mobilization and sharing of natural resources, investment, and profit-sharing among the three tiers of government, as well as to resolve disputes among them.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In an effort to mobilize innovative instruments of development finance and encourage private capital mobilization, the government has adopted additional legal provisions. It promises to enact legal and structural interventions to improve both domestic and external investment climates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the government pledged to streamline the approval process for domestic and foreign investments, making it more convenient and predictable through the implementation of an automated digital system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Poudel emphasized that Nepal's country rating will be determined in the upcoming fiscal year, signaling the government's commitment to facilitating foreign loans and other mixed forms of investment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20708', 'image' => '20240514065714_RS-KTM-11715679379248copy - Copy.jpg', 'article_date' => '2024-05-14 18:56:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20980', 'article_category_id' => '1', 'title' => 'Two Climbers from Mongolia go Missing during Everest Expedition', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kathmandu: Two citizens from Mongolia have gone missing during an expedition to Sagarmatha (Mt Everest).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Tourism, those missing have been identified as Usukhjargal Tsedendamba, 31 and Purevsuren Lkhagvajav, 53. They both are males. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> The department was informed about the incident by its Field Office at the Everest Base Camp. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> They were last seen ascending the peak of Mt Everest from Camp IV at 8:45 am on May 13 by another expedition team. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The search operation for them is underway at potential locations with the help of rescue management agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Their expedition was arranged by the Eight K Expeditions Pvt Ltd. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20707', 'image' => '20240514054707_20230518094613_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2024-05-14 17:46:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20979', 'article_category_id' => '1', 'title' => 'Post-Earthquake Reconstruction in Western Nepal to Cost Rs 63.58 Billion', 'sub_title' => '', 'summary' => 'Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Disaster Risk Reduction and Management Authority (NDRRMA) conducted a preliminary damage assessment valuing the destruction at approximately Rs 58 billion, with projected reconstruction costs exceeding Rs 63.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bharat Mani Pandey, Chief of NDRRMA’s Policy, Planning, and Monitoring Division, confirmed that reconstruction efforts are advancing following the completion of the preliminary study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An earthquake measuring 6.4 on the Richter scale, centered at Ramidanda in Jajarkot district, struck on November 3, 2023, claiming 154 lives and injuring 366 others. Another tremor, measuring 5.3 on the Richter scale, hit Bajhang on October 3, 2023, resulting in one fatality and 30 injuries. Prior to these events, an earthquake with a magnitude of 6.6 on the Richter scale occurred in Doti on November 8, 2022, causing six fatalities and eight injuries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NDRRMA data, these earthquakes damaged 95,787 houses, with an estimated value of Rs 43.39 billion. Additionally, 204 school buildings, 70 government and public buildings, 11 cultural heritage sites, nearly 200 kilometers of roads, and 121 irrigation projects were also affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Jajarkot earthquake caused the most significant human and property damage, with over 86,000 houses affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA's preliminary assessment estimates a total reconstruction cost of Rs 63.58 billion, allocated as follows: Rs 52.46 billion for private houses, government buildings, and health, education, and cultural structures; Rs 7.18 billion for other infrastructure sectors; and Rs 1.73 billion for the enterprise sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The reconstruction process is underway, with plans to seek approval from the Finance Ministry for the required budget after finalizing the detailed damage assessment concept. This will facilitate retrofitting, reconstruction, and resettlement of earthquake-damaged structures in Jajarkot, Bajhang, and Doti.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Anil Pokharel, NDRRMA Chief Executive, confirmed that reconstruction activities will proceed, as the Disaster Risk Reduction and Management Executive Committee, chaired by the home minister, has approved the 'Retrofitting, Reconstruction, and Resettlement Grant Procedure for Private Houses of Disaster Affected, 2081'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Beneficiaries will be grouped into 'A', 'B', and 'C' categories, with housing reconstruction activities prioritized accordingly. Local levels will play a significant role in the process, including preliminary loss recording and beneficiary identification by the Local Disaster Risk Reduction and Management Committees. Agreements between beneficiaries and ward chairpersons will follow, with a reconstruction completion timeline of two years post-agreement signing. -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20706', 'image' => '20240514041547_20231105112523_HK-Jajarkot-IMG_9219.jpg', 'article_date' => '2024-05-14 16:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20978', 'article_category_id' => '1', 'title' => 'NEPSE Posts Significant Gain of 28.62 Points to Close at 2027.51', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 14: The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 320 scrips were traded on the NEPSE through 59,856 transactions. A total of 9,855,285 shares changed their hands resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited(CHDC) led the turnover with the total transaction of Rs 15 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha(SAMAJ), Upakar Laghubitta Bittiya Sanstha Limited(ULBSL) and Unique Nepal Laghubitta Bittiya Sanstha Limited(UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Urja Bikas Company Limited(HURJA) incurred the maximum loss of 4.64%, closing at a market price of Rs 290 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector closed in the positive territory. Microfinance Index and HydroPower Index recorded the highest gains at 3.44% and 3.22% respectively. Trading Index experienced the least gain of 0.03%. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20705', 'image' => '20240514034002_collage (11).jpg', 'article_date' => '2024-05-14 15:38:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20977', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the Office of the Prime Minister and Council of Ministers on Tuesday approved the policies and programmes, said Minister for Communications and Information Technology and Spokesperson of the government, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel is scheduled to present the policies and programmes of the upcoming fiscal year in a joint session of the Federal Parliament on Tuesday afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also endorsed the 16th five-year plan, shared Minister Sharma. The National Planning Commission had sent the draft of the 16th periodic plan (2081/81-2085/86) to the Office of the Prime Minister and Council of Ministers on Sunday for final endorsement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20704', 'image' => '20240514025910_20240115115317_pm.jpg', 'article_date' => '2024-05-14 14:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20976', 'article_category_id' => '1', 'title' => 'Auto Traders Rush for Import of EVs Anticipating Tax Hike ', 'sub_title' => '', 'summary' => 'Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Government officials are suspicious about a significant surge in the import of both four-wheelers and two-wheelers powered by electricity in recent times. This uptick is believed to be driven by apprehensions of impending tax hikes in the budget for the upcoming fiscal year (FY), slated to be announced on May 28.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">The import of electric vehicles has increased due to the lower tax rates compared to vehicles powered by petroleum products, significantly impacting the government's revenue from vehicle imports</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the data of the Department of Customs, the government collected revenue of Rs 90 billion from the import of vehicles and their parts in the fiscal year 2078/79, which dropped to Rs 33.33 billion in the last fiscal year 2079/80. In the first nine months of the current fiscal year 2080/81, the department has collected Rs 39.89 billion in revenue from import of vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">As revenue from vehicle imports, a primary source of government income, has significantly decreased, importers of electric vehicles are concerned about potential tax hikes in the upcoming budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">A representative of SPG Automobile, the seller of the Omoda-5 electric vehicle, told New Business Age that he strongly believes that the tax rate imposed on EVs will increase to some extent due to the increase in the import of electric vehicles and the decrease in the import of petroleum-based vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Amidst such suspicions of the importers, the northern customs offices are busy clearing the customs of the growing number of electric vehicles. Nepal also imports the largest number of electric vehicles from China, which surpasses the world in the production and export of electric vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Dayanand KC, Chief Customs Officer of Tatopani Customs Office, told New Business Age, "Electric Vehicles are being imported at the rate of 50/60 vehicles per day. A total of 416 electric vehicles in the month of Chaitra (mid-March to mid-April) while more than 600 EVs have arrived in the month of Baisakh (mid-April to mid-May)."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, 70 vehicles entered through the checkpoint on Saturday alone. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Last year only 219 vehicles entered through this point. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"The increase in import of electric vehicles has also disturbed other vehicles used in transporting goods at the border," KC said, adding, "As of Saturday, 1,136 vehicles have arrived from China this year."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, there is a significant contribution to the revenue of Tatopani Customs due to the high volume of electric vehicles imported in the current year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"Tatopani Customs is collecting the most revenue from electric vehicles and the contribution is expected to be even more this year," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the customs officials, the importers may have imported a large number of electric vehicles in a hurry due to fear that there will be a policy change in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Similarly, the import of electric vehicles through Rasuwagadhi customs has also increased. Rasuwagadhi Customs Office Chief Ram Prasad Pathak said that BYD cars, Joy Long micro bus, King Long micro electronic bus and vans are entering through the checkpoint on a daily basis. According to him, 50 such vehicles enter through Rasuwagadhi Customs daily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the Rasuwagadhi Customs Office, 3,981 electric four-wheelers have been imported from Rasuwagadhi as of Sunday of the current fiscal year. The customs office has collected revenue of Rs 4.19 billion from the import of EVs. In the last fiscal year, 2,073 such vehicles entered through the same channel from which the government collected Rs 1.13 billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"We have not achieved the revenue collection target yet because the target has been set quite high. However, the contribution of electric vehicles to the revenue is still high," Pathak told NBA.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20703', 'image' => '20240514020650_20200317060256_Clipboard08.jpg', 'article_date' => '2024-05-14 14:06:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20975', 'article_category_id' => '1', 'title' => 'Government Seeks Proposals for Gold Exploration in Rolpa', 'sub_title' => '', 'summary' => 'Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district. The government on Monday called for proposals to issue a license for detailed exploration of gold mines in the area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government is seeking applications from the private sector for the detailed study and exploration after a preliminary study by the Department of Mines and Geology found traces of gold on the rocks in the rural municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition to exploration of gold, the department has called for proposals to issue permits for extracting limestone from three mines along with extraction of granite, dolomite, magnesite and iron from one mine each in different parts of the country. The department has also published a notification for further exploration of two phosphorite mines.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is mentioned in the notification that the application for exploration permit should be submitted within 45 days and for mining permit within 60 days from the date of publication of the notification.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Shiv Kumar Baskota, under-secretary of the mineral resources branch of the department, the government has so far issued three permits for gold exploration. Among them, two permits have been issued for exploration in Rolpa's Sunchahari Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The newly issued proposal is for exploration in a new place within Sunchhahari Rural Municipality," Baskota told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, Vienna Multipurpose Group Pvt Ltd and Classic Minerals Pvt Ltd have been given permission to explore gold within Sunchhahari Rural Municipality, while Sangrila Minerals Pvt Ltd has been given permission to explore gold in Swargadwari area of Pyuthan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the officials of the department, they has been issuing permits to search for two types of gold mines. First kind involves the permit for exploring the primary source of gold found in the rock and the second one is to explore the source of gold found in the rivers. Sangrila Minerals has been given permission to search for gold that has flowed into the river.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Baskota, the department had issued permits in the past to search for gold on the banks of the Karnali River in Bardiya, on the banks of the Madi River in Pyuthan and on the banks of the Rapti River in Dang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Some domestic companies along with Nepali companies with Chinese investment and some other companies were issued exploration permits," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such permission is given for a period of years. “Most of them could not find the source and quit,” said Baskota. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, primary gold mines have not been found in any other place except Sunchhahari rural municipality of Rolpa.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, a proposal has been invited to extract limestone in Kupinde rural municipality of Salyan Rorang rural municipality of Dhading and Sitganga municipality of Arghakhanchi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, applications have been requested to operate granite mine in Roshi Rural Municipality of Kavrepalanchok District, dolomite in Tuwachung Municipality of Khotang, magnesite in Triyuga Municipality of Udayapur and iron mine in Bhume Rural Municipality of Rukum East.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the department, applications have also been requested for further exploration of phosphorite in Puchaudi Municipality of Baitadi and Dogadkedar Rural Municipality of the same district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'gold, exploration, permit, Nepal, Rolpa, Rukum, department, license, Chinese', 'description' => '', 'sortorder' => '20702', 'image' => '20240514012612_golddddddd.jpg', 'article_date' => '2024-05-14 13:24:58', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20974', 'article_category_id' => '1', 'title' => 'President to Unveil Government’s Policy and Programme in a Joint Meeting of Federal Parliament Today', 'sub_title' => 'Nepali Congress Decides not to Obstruct Parliament', 'summary' => 'Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress has been obstructing parliamentary session demanding the formation of a probe committee against the cooperative scam involving Deputy Prime Minister and Home Minister Ravi Lamichhane.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to media reports, the parliamentary party meeting of the main opposition party held at Singha Durbar on Tuesday morning, however, decided to allow the president to present the policy and programme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As per the schedule prepared by the Parliament Secretariat, President Ram Chandra Paudel will address the joint meeting of the federal parliament at 3:00 pm on Tuesday to announce the government's policy and programme for the fiscal year 2081/082 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, Deputy Spokesperson of Federal Parliament Secretariat Dasharath Dhamala shared that preparations for the joint meeting have been completed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federal Parliament Secretariat has extended invitations to Vice President Ramsahaya Prasad Yadav, Chief Justice Bishwambhar Prasad Shrestha and other dignitaries to attend the joint meeting of the House of Representatives (HoR) and National Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the main opposition Nepali Congress lawmaker Ramnath Adhikari said that the government's policy and programme should address the issues of people's livelihood, massive out-bound migration of youth and underdevelopment in the rural parts of the country, RSS reported. </span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20701', 'image' => '20240514115805_Parliament.jpg', 'article_date' => '2024-05-14 11:56:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20973', 'article_category_id' => '1', 'title' => 'Swedish Delegation Attending EU-Nepal Business Forum ', 'sub_title' => '', 'summary' => 'Kathmandu: Swedish Ambassador to Nepal, Jan Thesleff, is visiting Kathmandu from May 14 to 17 together with a delegation of Swedish businesses and government officials from the Swedish Energy Agency. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: Swedish Ambassador to Nepal, Jan Thesleff, is visiting Kathmandu from May 14 to 17 together with a delegation of Swedish businesses and government officials from the Swedish Energy Agency. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the visit, Ambassador Thesleff will participate in the second edition of the EU-Nepal Business Forum taking place on May 15-16, and meet with the ministers, including Minister for Foreign Affairs Narayan Kaji Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The business delegation includes companies such as Hexagon, Hitachi Energy and Saab. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the establishment of diplomatic ties between Sweden and Nepal in June 1960, the bilateral relations have prospered to a strong partnership founded on mutual respect, understanding and friendship over the decades, according to a press release issued by the Swedish Embassy in New Delhi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The countries have an ongoing cooperation on climate change and matters related to Article 6 of the Paris Agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“By participating in the EU-Nepal Business Forum, Sweden aims to further increase trade between our two nations and explore potential business opportunities involving Swedish and Nepalese companies," Ambassador Thesleff said, expressing hope that the bilateral cooperation with Nepal would be strengthened on climate action and the advancement of the sustainable development goals. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20700', 'image' => '20240514110455_swe.jpg', 'article_date' => '2024-05-14 11:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20972', 'article_category_id' => '1', 'title' => 'Cabinet Approves Draft of 16th Five-Year Periodic Plan with Ambitious Plans ', 'sub_title' => '', 'summary' => 'Kathmandu: The draft of the 16th Five-Year Periodic Plan (2081/82-2085/86) has been sent to the Council of Ministers for final approval. ', 'content' => '<p><span style="font-size:18px">Kathmandu: A meeting of the Council of Ministes on Tuesday approved the final draft of the 16th Five-Year Periodic Plan (2081/82-2085/86). The National Planning Commission (NPC) had sent the draft of the sixteenth periodic plan with the major goals of 'Good Governance, Social Justice and Prosperity' to the Office of the Prime Minister and the Council of Ministers on Sunday. <br /> The periodic plan to be implemented from the next fiscal year 2081/82 carries some ambitious targets such as achieving an economic growth rate of 7.3 percent and per capita income of USD 2,413. In the current fiscal year, the projected economic growth rate of Nepal is 3.9 percent and the per capita income is USD 1,456. </span></p> <p><span style="font-size:18px">Similarly, the five-year plan targets reducing absolute poverty to 20.3 percent and consumer inflation to 5 percent by the fiscal year 2085/86. Similarly, it also plans to increase Nepal's human development index to 0.650 from the current 0.601, human wealth index from 76.3 to 78 and to reduce the economic and environmental risk index from 29.7 to 24. </span></p> <p><span style="font-size:18px">The plan aims to increase the average life expectancy of Nepalis to 73 years from the existing 71.3 years within five years. The number of families with access to a health facility within half an hour's distance is currently 77 percent, and the target is to increase it to 90 percent, literacy rate to 85 percent and reduce the unemployment rate from 11.4 percent to 5 percent. </span></p> <p><span style="font-size:18px">The periodic plan aims to take the hydropower production, which is currently around 3,300 MW, to 11,769 MW within five years. Similarly, access to the Internet will become 90 percent while 85 percent of families will have access to banks and financial institutions. </span></p> <p><span style="font-size:18px">A goal has been set to bring the rule of law index from 0.52 to 0.80, the global competitiveness index from 52 to 65 and the corruption reduction awareness index from 35 to 43. The periodical plan includes sectoral indicators, transformational strategy and major interventions to achieve the set goals and targets. </span></p> <p><span style="font-size:18px">According to the NPC, the draft has been prepared with transformational programs along with sectoral strategies. The updated planning includes transformational strategies, major interventions and quantitative targets. </span></p> <p><span style="font-size:18px">The sectoral headings include Strengthening Macroeconomic Fundamentals and Rapid Economic Growth; Enhancing Production, Productivity and Competitiveness; Decent Job and Productive Employment; Educated, Skilled and Healthy Human Capital Formation; Quality Infrastructure and Integrated Transport Management System; Modern, Sustainable and Systematic Urbanization and Settlements; Social Empowerment, Inclusion and Mobilization and Development and Reinforcement of Provincial and Local Economy and Expansion of Formal Sector. </span></p> <p><span style="font-size:18px">Likewise, Balanced Development for Reducing Poverty and Inequality and Creating an Equitable Society; Efficient Fiscal Management and Capital Expenditure Capacity Enhancement; Governance Reform and Promoting Good Governance' LDC Graduation and Beyond, and Sustainable Development Goals and Green Economy are the other sectoral themes for the 16th Periodic Plan. </span></p> <p><span style="font-size:18px">As targeted, the revenue-GDP ratio will be increased to 24 per cent from the current ratio of 17.8 percent and the federal expenditure will be increased to 32 per cent in ratio to GDP from 26.5 percent at present. </span></p> <p><span style="font-size:18px">Similarly, the 16th periodic plan has targeted not to exceed the sovereign loan from 45 percent of the GDP while the trade deficit would be reduced to 24 per cent in ratio to GDP from 27 per cent at present. </span></p> <p><span style="font-size:18px">Likewise, the inflow of remittance would be maintained between 22 to 24 per cent of the GDP. </span></p> <p><span style="font-size:18px">The 16th periodic plan has set some ambitious targets for increasing domestic production and productivity including establishing 140 industrial zones, establishing one more special economic zone and increasing the power production and consumption as well. </span></p> <p><span style="font-size:18px">As planned, electricity worth Rs 41 billion would be exported year-on-year by the end of the 16th periodic plan and the energy sector would be promoted to reduce the overall trade deficit. </span></p> <p><span style="font-size:18px">The periodic plan has targeted to create 1.2 million jobs in a year and increase the minimum wages of the workers to Rs 25,000 per month while bringing the number of social security beneficiaries to 2 million. </span></p> <p><span style="font-size:18px">A plenary meeting of the National Planning Commission held in early May 2023 had approved the 16th five-year periodic plan (2081/82-2085/86). </span></p> <p><span style="font-size:18px">The draft of the 16th plan has the objective of maintaining good governance in political, administrative and judicial sectors, maintaining social justice in health, education, employment sectors, and achieving prosperity in social life, economic development and national economy. </span></p> <p><span style="font-size:18px">The new periodic plan has determined a strategy of achieving good governance, social justice and prosperity through structural transformation by identifying, addressing and resolving structural obstacles seen in development activities. </span></p> <p><span style="font-size:18px">The structural transformation strategy has incorporated the issues of adopting latest technology and management methods based on research and development, producing decent, productive and inclusive employment. </span></p> <p><span style="font-size:18px">As per the draft, the government will adopt a policy to run national skill development and employment programs in collaboration with private and non-government sectors while priority would be given for the empowerment of marginalized communities and promoting inclusive employment through affirmative action. </span></p> <p><span style="font-size:18px">"Employment will be created within the country by producing skilled and capable human resources through the utilization of demographic dividends in all three-levels of the government," reads the concept paper of the periodic plan. A strategy has been adopted to identify new destination countries with high returns along with safe and secured work for foreign employment and signing of bilateral labor agreements.</span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'Periodic, Plan, Draft, National, Planning, Commission, Index, growth, economy, human, development, poverty', 'description' => '', 'sortorder' => '20699', 'image' => '20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-14 10:25:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20971', 'article_category_id' => '1', 'title' => 'Fiscal Federalism Progressing at a Moderate Pace in Nepal: WB Report', 'sub_title' => 'Nepal Fiscal Federalism Update 2024 Recommends Further Reforms to Strengthen Outcomes', 'summary' => 'Kathmandu: Nepal’s legal and institutional reforms under fiscal federalism and public financial management at the provincial and local levels have continued but at a moderate pace, says the World Bank’s latest report.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Nepal’s legal and institutional reforms under fiscal federalism and public financial management at the provincial and local levels have continued but at a moderate pace, says the World Bank’s latest report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Nepal Fiscal Federalism Update 2024 published by the World Bank, a reduction of available financial resources in fiscal year 2023 for provincial and local governments, mainly due to a decrease in federal revenue, led to the first fiscal deficit at the subnational level since the outset of fiscal federalism in 2017. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, the World Bank said that the Fiscal Federalism Coordination Division at the Ministry of Finance was designated to coordinate public financial management reform efforts and the preparation and implementation of a Fiscal Federalism Roadmap to enhance the outcomes of fiscal federalism and public financial management including improved revenue generation for all three tiers of government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the World Bank, its latest report provides a comprehensive review of the progress of fiscal federalism in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The recommendations are well aligned with our national-level vision on smoothing the fiscal transfers to help subnational governments carry out their responsibilities effectively. The report also informs and supports our ongoing efforts to clarify responsibilities among the three tiers of government and advance fiscal federalism,” the World Bank quoted Chief Secretary Dr. Baikuntha Aryal as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Building on the first edition of the Nepal Fiscal Federalism Update, the 2024 edition explores in-depth the key pillars of fiscal federalism in Nepal: Revenue Assignment and Administration; Expenditure Assignment and Administration; Inter-Governmental Fiscal Transfers; Borrowing and Capital Finance; and Fiscal Revenue from Natural Resources. It recommends specific measures to upgrade the Inter-Governmental Fiscal Transfer system and establish a consolidated public financial management performance database that includes data from the subnational levels to enhance evidence-based decision making and transparency, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The report highlights the need to upgrade institutional arrangements for the Intergovernmental Fiscal Transfers system to make the transfers more needs-based and timely, and to increase the fiscal autonomy of provincial and local governments, in order to improve fiscal federalism outcomes,” said Balananda Paudel, chairman of the National Natural Resources and Fiscal Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The report also recommends strengthening provincial and local-level institutional arrangements for fiscal federalism and public financial management operations, including actions to improve budget credibility to improve delivery of services by subnational governments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Fiscal Federalism is a foundation for sustained service delivery by provincial and local governments. They need adequate financial resources and the ability to make spending decisions at the subnational level, in the spirit of federalism and the Constitution,” said Faris Hadad-Zervos, World Bank’s country director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to supporting the Government of Nepal, in close collaboration with other development partners, to further solidify fiscal federalism in Nepal.”</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'World, Bank, Nepal, Fiscal, Federalism, update, report', 'description' => '', 'sortorder' => '20698', 'image' => '20240513022618_World.jpg', 'article_date' => '2024-05-13 14:25:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20970', 'article_category_id' => '1', 'title' => 'Nepali Students Spent Over Rs 95 Billion for Education Abroad this Year', 'sub_title' => '', 'summary' => 'Kathmandu: Nepali students opting to study abroad have spent Rs 95.85 billion for foreign education in the first nine months of the current fiscal year, which is far more than the entire income of Rs 60.45 billion generated by the tourism industry of Nepal in the review period.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Nepali students opting to study abroad have spent Rs 95.85 billion for foreign education in the first nine months of the current fiscal year, which is far more than the entire income of Rs 60.45 billion generated by the tourism industry of Nepal in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank, the travel payments under the service account increased 42.5 percent to Rs 143.22 billion, including Rs 95.85 billion for education. Such payments were Rs 100.54 billion and Rs 67.19 billion respectively in the same period of the previous year, states the Current Macroeconomic and Financial Situation Report of Nepal unveiled by the central bank on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, travel income under the service account increased 40 percent to Rs 60.45 billion in the review period which was Rs 43.17 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, net services income remained at a deficit of Rs 52.23 billion in the review period compared to a deficit of Rs 63.91 billion in the same period of the previous year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'Nepal, Rastra, Bank, report, macroeconomic, financial, situation, central, education, tourism, service, net, billion, deficit, dollar, US', 'description' => '', 'sortorder' => '20697', 'image' => '20240513020732_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-13 14:05:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20967', 'article_category_id' => '1', 'title' => 'What's Behind the Wave of Recent Incidents on Boeing Planes?', 'sub_title' => '', 'summary' => 'New York: Boeing has been in the headlines lately following a series of problems with its aircraft, with the most recent incidents in Turkey and Senegal, the AFP reported.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New York: Boeing has been in the headlines lately following a series of problems with its aircraft, with the most recent incidents in Turkey and Senegal, the AFP reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The French news agency published a news report citing experts that the episodes, which follow a near-disastrous panel blowout on an Alaska Airlines jet in January, point to production and maintenance issues. According to the experts, they don't see an obvious pattern behind the myriad incidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Rash of incidents</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US plane maker has been under scrutiny since January 5, when a Boeing 737 MAX 9 operated by Alaska Airlines made an emergency landing after a fuselage panel blew out, somehow avoiding serious injuries in an incident that safety officials say could have been catastrophic, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">United Airlines has experienced recent issues on various flights involving Boeing planes, as has Southwest Airlines, which in early April had an engine fire on one flight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Thursday, a Boeing 737-300 skidded off a runway in Senegal, resulting in 11 injuries, including four that were serious.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">That followed a Wednesday incident in Istanbul in which a Boeing 767 cargo plane belonging to FedEx landed on its nose after its front landing gear failed to deploy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such a confluence of incidents is "pretty rare" within air travel, aviation expert Bertrand Vilmer told AFP, describing the myriad "abnormal" problems as reflecting "an alignment of unfavorable planets."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Alternative causes </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aviation experts usually look to three possible explanations for problems, according to AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There can be a design defect, as with the two fatal crashes on 737 MAX jets in 2018 in Indonesia and 2019 in Ethiopia that involved a flaw in a flight stabilizing system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aviation watchers have pointed to a production defect as the likely source of the Alaska Airlines incident, which entailed a Boeing 737 MAX 9 that had only been delivered in October.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A preliminary report by the National Transportation Safety Board published in February found that four bolts meant to help secure the panel that blew off were missing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A third possible cause would be insufficient maintenance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While design and production are the responsibility of the plane maker, the airline is in charge of keeping up the plane once it receives it, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Once the aircraft is delivered, Boeing has nothing to do with it anymore" in relation to maintenance, Richard Aboulafia of AeroDynamic Advisory told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Safest form of transport? </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notwithstanding the recent spate of incidents, aviation experts point to a strong safety record overall.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We haven't had a single casualty in the entire US airline industry in way over a decade, despite millions of people flown," AFP quoted Aboulafia as saying. "That's incredible."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aboulafia calls modern flying "the safest form of transport ever created by people," noting that "everyday, hundreds of people get killed on the roads."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Boeing's rival, Airbus, has not been completely spared of difficulty. Hundreds of planes produced by the European company are being taken out of service to check for microscopic "contamination" of metals in engines made by Pratt & Whitney.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Airbus also had a public dispute with Qatar Airways involving the degradation of exterior plane surfaces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But there have been fewer such issues at Airbus and not one incident that drew a comparable level of attention as Alaska Airlines, experts said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Every incident that has occurred on Boeing airplanes this year has made headlines, suggesting that Boeing airplanes are unsafe," said a note from equity research firm Bernstein.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The reality is that the number of incidents in the US on Airbus and Boeing airplanes so far this year is proportional to the number of airplanes in the fleets of US carriers."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US commercial fleet currently has about 4,800 planes, with about 60 percent Boeing planes, according to Cirium, an aviation analytics firm. -- AFP</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'Boeing, aircraft, safety, transport, glitches, Airbus, fatal, accidents, maintenance, pattern, disaster', 'description' => '', 'sortorder' => '20695', 'image' => '20240513073023_Boeing_TAAG_Angola_Airlines.jpg', 'article_date' => '2024-05-13 07:29:33', '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
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Presenting the government's policies and programmes for the upcoming fiscal year in the joint session of the federal parliament on Tuesday, President Ram Chandra Paudel said that the federal hospitals would be restructured on the basis of their workloads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Bir Hospital, National Trauma Centre, Kanti Children's Hospital and some other hospitals having enough human resources will run OPD services in two shifts while the infrastructures of Kanti Children's Hospital would be upgraded to ensure state-of-the-art services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Kanti Children's Hospital will be equipped with the construction of additional infrastructures and upgradation. Shahid Gangalal National Heart Centre will be developed as an institution capable of producing specialists in cardiology," reads the announcement made by President Paudel. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Likewise, the upcoming year's policies and programmes stated that the federal hospitals or health science academies at the provincial level will be upgraded to 500 beds respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Human organ transplant institutions and services will be upgraded and expanded. Special programmes will be conducted for safe motherhood and disease control. A free screening programme for prevention of cervical cancer and vaccination services for girls in the age group of 10 to 14 years will be extended to district hospitals," the President read while unveiling the policies and programmes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the announcement, the public health surveillance system will be strengthened for pandemic prevention, control, and preparedness and response to health emergencies and the health personnel will be deployed at border and entry points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"A separate institutional arrangement will be made for the prevention of non-communicable disease. An action plan based on the "One Health Policy" will be implemented to minimize probable adverse effects on human health from animals, plants, and the environment," reads the policies and programmes of the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => 'hospital, service, OPD, out, door, patient, two, shift, government, Nepal', 'description' => '', 'sortorder' => '20711', 'image' => '20240515103139_20240514091928_20230830033211_Hospital.jpg', 'article_date' => '2024-05-15 10:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20983', 'article_category_id' => '1', 'title' => 'Budget to Align Announced Polices and Programmes: Finance Minister', 'sub_title' => '', 'summary' => 'Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 15: Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Talking to the media after the announcement of the upcoming fiscal year's policies and programmes by the President, Finance Minister Pun argued that there will not be incompatibility in the government's policies and programmes, and budget. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"There used to be complaints about the incompatibility between the budget, and policies and programmes but it will not happen this time," Finance Minister assured. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun added that the government's policies and programmes are good and the budget will be brought to implement and supplement them for the development of the country. </span></span></p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20710', 'image' => '20240515085242_collage (1).jpg', 'article_date' => '2024-05-15 08:51:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20981', 'article_category_id' => '1', 'title' => 'Government to Undertake Policy Intervention to Address Issues of Cooperatives', 'sub_title' => '', 'summary' => 'Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives. This commitment was reaffirmed through its policies and programs for the upcoming fiscal year (FY 2024-25), presented by President Ram Chandra Paudel before a joint sitting of the Federal Parliament on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Paudel stated that the government will come up with legal provisions as the policy level to tackle the challenges faced by banks, financial institutions, and cooperatives. According to the outlined policies and programs, the government aims to promote healthy competition, supervision, and regulation by incorporating feedback received from various stakeholders to address issues within these institutions and the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the provision of refinancing and restructuring of loans for microfinance borrowers and adapting the cooperative policy to current needs. Additionally, cooperatives will be required to connect to the Cooperative and Poverty-related Management Information System. Those cooperatives with government ownership will receive support for integration, while savings and credit cooperatives will be encouraged to consider mergers, aligning with the government’s new policies and programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To consolidate small capital for large projects, the government aims to integrate scattered resources and involve private investment companies in operating and managing defunct industries such as the Gorakhkali Rubber Industry, Butwal Spinning Mills, and Hetauda Garment Factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the government intends to pursue policies to ensure fair, balanced, and transparent revenue distribution. Grants will be allocated based on objective criteria, and integrated laws will be formulated to govern the mobilization and sharing of natural resources, investment, and profit-sharing among the three tiers of government, as well as to resolve disputes among them.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In an effort to mobilize innovative instruments of development finance and encourage private capital mobilization, the government has adopted additional legal provisions. It promises to enact legal and structural interventions to improve both domestic and external investment climates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the government pledged to streamline the approval process for domestic and foreign investments, making it more convenient and predictable through the implementation of an automated digital system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Poudel emphasized that Nepal's country rating will be determined in the upcoming fiscal year, signaling the government's commitment to facilitating foreign loans and other mixed forms of investment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20708', 'image' => '20240514065714_RS-KTM-11715679379248copy - Copy.jpg', 'article_date' => '2024-05-14 18:56:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20980', 'article_category_id' => '1', 'title' => 'Two Climbers from Mongolia go Missing during Everest Expedition', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kathmandu: Two citizens from Mongolia have gone missing during an expedition to Sagarmatha (Mt Everest).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Tourism, those missing have been identified as Usukhjargal Tsedendamba, 31 and Purevsuren Lkhagvajav, 53. They both are males. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> The department was informed about the incident by its Field Office at the Everest Base Camp. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> They were last seen ascending the peak of Mt Everest from Camp IV at 8:45 am on May 13 by another expedition team. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The search operation for them is underway at potential locations with the help of rescue management agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Their expedition was arranged by the Eight K Expeditions Pvt Ltd. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20707', 'image' => '20240514054707_20230518094613_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2024-05-14 17:46:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20979', 'article_category_id' => '1', 'title' => 'Post-Earthquake Reconstruction in Western Nepal to Cost Rs 63.58 Billion', 'sub_title' => '', 'summary' => 'Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Disaster Risk Reduction and Management Authority (NDRRMA) conducted a preliminary damage assessment valuing the destruction at approximately Rs 58 billion, with projected reconstruction costs exceeding Rs 63.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bharat Mani Pandey, Chief of NDRRMA’s Policy, Planning, and Monitoring Division, confirmed that reconstruction efforts are advancing following the completion of the preliminary study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An earthquake measuring 6.4 on the Richter scale, centered at Ramidanda in Jajarkot district, struck on November 3, 2023, claiming 154 lives and injuring 366 others. Another tremor, measuring 5.3 on the Richter scale, hit Bajhang on October 3, 2023, resulting in one fatality and 30 injuries. Prior to these events, an earthquake with a magnitude of 6.6 on the Richter scale occurred in Doti on November 8, 2022, causing six fatalities and eight injuries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NDRRMA data, these earthquakes damaged 95,787 houses, with an estimated value of Rs 43.39 billion. Additionally, 204 school buildings, 70 government and public buildings, 11 cultural heritage sites, nearly 200 kilometers of roads, and 121 irrigation projects were also affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Jajarkot earthquake caused the most significant human and property damage, with over 86,000 houses affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA's preliminary assessment estimates a total reconstruction cost of Rs 63.58 billion, allocated as follows: Rs 52.46 billion for private houses, government buildings, and health, education, and cultural structures; Rs 7.18 billion for other infrastructure sectors; and Rs 1.73 billion for the enterprise sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The reconstruction process is underway, with plans to seek approval from the Finance Ministry for the required budget after finalizing the detailed damage assessment concept. This will facilitate retrofitting, reconstruction, and resettlement of earthquake-damaged structures in Jajarkot, Bajhang, and Doti.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Anil Pokharel, NDRRMA Chief Executive, confirmed that reconstruction activities will proceed, as the Disaster Risk Reduction and Management Executive Committee, chaired by the home minister, has approved the 'Retrofitting, Reconstruction, and Resettlement Grant Procedure for Private Houses of Disaster Affected, 2081'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Beneficiaries will be grouped into 'A', 'B', and 'C' categories, with housing reconstruction activities prioritized accordingly. Local levels will play a significant role in the process, including preliminary loss recording and beneficiary identification by the Local Disaster Risk Reduction and Management Committees. Agreements between beneficiaries and ward chairpersons will follow, with a reconstruction completion timeline of two years post-agreement signing. -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20706', 'image' => '20240514041547_20231105112523_HK-Jajarkot-IMG_9219.jpg', 'article_date' => '2024-05-14 16:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20978', 'article_category_id' => '1', 'title' => 'NEPSE Posts Significant Gain of 28.62 Points to Close at 2027.51', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 14: The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 320 scrips were traded on the NEPSE through 59,856 transactions. A total of 9,855,285 shares changed their hands resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited(CHDC) led the turnover with the total transaction of Rs 15 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha(SAMAJ), Upakar Laghubitta Bittiya Sanstha Limited(ULBSL) and Unique Nepal Laghubitta Bittiya Sanstha Limited(UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Urja Bikas Company Limited(HURJA) incurred the maximum loss of 4.64%, closing at a market price of Rs 290 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector closed in the positive territory. Microfinance Index and HydroPower Index recorded the highest gains at 3.44% and 3.22% respectively. Trading Index experienced the least gain of 0.03%. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20705', 'image' => '20240514034002_collage (11).jpg', 'article_date' => '2024-05-14 15:38:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20977', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the Office of the Prime Minister and Council of Ministers on Tuesday approved the policies and programmes, said Minister for Communications and Information Technology and Spokesperson of the government, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel is scheduled to present the policies and programmes of the upcoming fiscal year in a joint session of the Federal Parliament on Tuesday afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also endorsed the 16th five-year plan, shared Minister Sharma. The National Planning Commission had sent the draft of the 16th periodic plan (2081/81-2085/86) to the Office of the Prime Minister and Council of Ministers on Sunday for final endorsement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20704', 'image' => '20240514025910_20240115115317_pm.jpg', 'article_date' => '2024-05-14 14:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20976', 'article_category_id' => '1', 'title' => 'Auto Traders Rush for Import of EVs Anticipating Tax Hike ', 'sub_title' => '', 'summary' => 'Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Government officials are suspicious about a significant surge in the import of both four-wheelers and two-wheelers powered by electricity in recent times. This uptick is believed to be driven by apprehensions of impending tax hikes in the budget for the upcoming fiscal year (FY), slated to be announced on May 28.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">The import of electric vehicles has increased due to the lower tax rates compared to vehicles powered by petroleum products, significantly impacting the government's revenue from vehicle imports</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the data of the Department of Customs, the government collected revenue of Rs 90 billion from the import of vehicles and their parts in the fiscal year 2078/79, which dropped to Rs 33.33 billion in the last fiscal year 2079/80. In the first nine months of the current fiscal year 2080/81, the department has collected Rs 39.89 billion in revenue from import of vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">As revenue from vehicle imports, a primary source of government income, has significantly decreased, importers of electric vehicles are concerned about potential tax hikes in the upcoming budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">A representative of SPG Automobile, the seller of the Omoda-5 electric vehicle, told New Business Age that he strongly believes that the tax rate imposed on EVs will increase to some extent due to the increase in the import of electric vehicles and the decrease in the import of petroleum-based vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Amidst such suspicions of the importers, the northern customs offices are busy clearing the customs of the growing number of electric vehicles. Nepal also imports the largest number of electric vehicles from China, which surpasses the world in the production and export of electric vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Dayanand KC, Chief Customs Officer of Tatopani Customs Office, told New Business Age, "Electric Vehicles are being imported at the rate of 50/60 vehicles per day. A total of 416 electric vehicles in the month of Chaitra (mid-March to mid-April) while more than 600 EVs have arrived in the month of Baisakh (mid-April to mid-May)."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, 70 vehicles entered through the checkpoint on Saturday alone. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Last year only 219 vehicles entered through this point. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"The increase in import of electric vehicles has also disturbed other vehicles used in transporting goods at the border," KC said, adding, "As of Saturday, 1,136 vehicles have arrived from China this year."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, there is a significant contribution to the revenue of Tatopani Customs due to the high volume of electric vehicles imported in the current year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"Tatopani Customs is collecting the most revenue from electric vehicles and the contribution is expected to be even more this year," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the customs officials, the importers may have imported a large number of electric vehicles in a hurry due to fear that there will be a policy change in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Similarly, the import of electric vehicles through Rasuwagadhi customs has also increased. Rasuwagadhi Customs Office Chief Ram Prasad Pathak said that BYD cars, Joy Long micro bus, King Long micro electronic bus and vans are entering through the checkpoint on a daily basis. According to him, 50 such vehicles enter through Rasuwagadhi Customs daily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the Rasuwagadhi Customs Office, 3,981 electric four-wheelers have been imported from Rasuwagadhi as of Sunday of the current fiscal year. The customs office has collected revenue of Rs 4.19 billion from the import of EVs. In the last fiscal year, 2,073 such vehicles entered through the same channel from which the government collected Rs 1.13 billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"We have not achieved the revenue collection target yet because the target has been set quite high. However, the contribution of electric vehicles to the revenue is still high," Pathak told NBA.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20703', 'image' => '20240514020650_20200317060256_Clipboard08.jpg', 'article_date' => '2024-05-14 14:06:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20975', 'article_category_id' => '1', 'title' => 'Government Seeks Proposals for Gold Exploration in Rolpa', 'sub_title' => '', 'summary' => 'Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district. The government on Monday called for proposals to issue a license for detailed exploration of gold mines in the area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government is seeking applications from the private sector for the detailed study and exploration after a preliminary study by the Department of Mines and Geology found traces of gold on the rocks in the rural municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition to exploration of gold, the department has called for proposals to issue permits for extracting limestone from three mines along with extraction of granite, dolomite, magnesite and iron from one mine each in different parts of the country. The department has also published a notification for further exploration of two phosphorite mines.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is mentioned in the notification that the application for exploration permit should be submitted within 45 days and for mining permit within 60 days from the date of publication of the notification.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Shiv Kumar Baskota, under-secretary of the mineral resources branch of the department, the government has so far issued three permits for gold exploration. Among them, two permits have been issued for exploration in Rolpa's Sunchahari Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The newly issued proposal is for exploration in a new place within Sunchhahari Rural Municipality," Baskota told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, Vienna Multipurpose Group Pvt Ltd and Classic Minerals Pvt Ltd have been given permission to explore gold within Sunchhahari Rural Municipality, while Sangrila Minerals Pvt Ltd has been given permission to explore gold in Swargadwari area of Pyuthan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the officials of the department, they has been issuing permits to search for two types of gold mines. First kind involves the permit for exploring the primary source of gold found in the rock and the second one is to explore the source of gold found in the rivers. Sangrila Minerals has been given permission to search for gold that has flowed into the river.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Baskota, the department had issued permits in the past to search for gold on the banks of the Karnali River in Bardiya, on the banks of the Madi River in Pyuthan and on the banks of the Rapti River in Dang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Some domestic companies along with Nepali companies with Chinese investment and some other companies were issued exploration permits," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such permission is given for a period of years. “Most of them could not find the source and quit,” said Baskota. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, primary gold mines have not been found in any other place except Sunchhahari rural municipality of Rolpa.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, a proposal has been invited to extract limestone in Kupinde rural municipality of Salyan Rorang rural municipality of Dhading and Sitganga municipality of Arghakhanchi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, applications have been requested to operate granite mine in Roshi Rural Municipality of Kavrepalanchok District, dolomite in Tuwachung Municipality of Khotang, magnesite in Triyuga Municipality of Udayapur and iron mine in Bhume Rural Municipality of Rukum East.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the department, applications have also been requested for further exploration of phosphorite in Puchaudi Municipality of Baitadi and Dogadkedar Rural Municipality of the same district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'gold, exploration, permit, Nepal, Rolpa, Rukum, department, license, Chinese', 'description' => '', 'sortorder' => '20702', 'image' => '20240514012612_golddddddd.jpg', 'article_date' => '2024-05-14 13:24:58', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20974', 'article_category_id' => '1', 'title' => 'President to Unveil Government’s Policy and Programme in a Joint Meeting of Federal Parliament Today', 'sub_title' => 'Nepali Congress Decides not to Obstruct Parliament', 'summary' => 'Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress has been obstructing parliamentary session demanding the formation of a probe committee against the cooperative scam involving Deputy Prime Minister and Home Minister Ravi Lamichhane.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to media reports, the parliamentary party meeting of the main opposition party held at Singha Durbar on Tuesday morning, however, decided to allow the president to present the policy and programme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As per the schedule prepared by the Parliament Secretariat, President Ram Chandra Paudel will address the joint meeting of the federal parliament at 3:00 pm on Tuesday to announce the government's policy and programme for the fiscal year 2081/082 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, Deputy Spokesperson of Federal Parliament Secretariat Dasharath Dhamala shared that preparations for the joint meeting have been completed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federal Parliament Secretariat has extended invitations to Vice President Ramsahaya Prasad Yadav, Chief Justice Bishwambhar Prasad Shrestha and other dignitaries to attend the joint meeting of the House of Representatives (HoR) and National Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the main opposition Nepali Congress lawmaker Ramnath Adhikari said that the government's policy and programme should address the issues of people's livelihood, massive out-bound migration of youth and underdevelopment in the rural parts of the country, RSS reported. </span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20701', 'image' => '20240514115805_Parliament.jpg', 'article_date' => '2024-05-14 11:56:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20973', 'article_category_id' => '1', 'title' => 'Swedish Delegation Attending EU-Nepal Business Forum ', 'sub_title' => '', 'summary' => 'Kathmandu: Swedish Ambassador to Nepal, Jan Thesleff, is visiting Kathmandu from May 14 to 17 together with a delegation of Swedish businesses and government officials from the Swedish Energy Agency. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: Swedish Ambassador to Nepal, Jan Thesleff, is visiting Kathmandu from May 14 to 17 together with a delegation of Swedish businesses and government officials from the Swedish Energy Agency. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the visit, Ambassador Thesleff will participate in the second edition of the EU-Nepal Business Forum taking place on May 15-16, and meet with the ministers, including Minister for Foreign Affairs Narayan Kaji Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The business delegation includes companies such as Hexagon, Hitachi Energy and Saab. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the establishment of diplomatic ties between Sweden and Nepal in June 1960, the bilateral relations have prospered to a strong partnership founded on mutual respect, understanding and friendship over the decades, according to a press release issued by the Swedish Embassy in New Delhi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The countries have an ongoing cooperation on climate change and matters related to Article 6 of the Paris Agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“By participating in the EU-Nepal Business Forum, Sweden aims to further increase trade between our two nations and explore potential business opportunities involving Swedish and Nepalese companies," Ambassador Thesleff said, expressing hope that the bilateral cooperation with Nepal would be strengthened on climate action and the advancement of the sustainable development goals. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20700', 'image' => '20240514110455_swe.jpg', 'article_date' => '2024-05-14 11:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20972', 'article_category_id' => '1', 'title' => 'Cabinet Approves Draft of 16th Five-Year Periodic Plan with Ambitious Plans ', 'sub_title' => '', 'summary' => 'Kathmandu: The draft of the 16th Five-Year Periodic Plan (2081/82-2085/86) has been sent to the Council of Ministers for final approval. ', 'content' => '<p><span style="font-size:18px">Kathmandu: A meeting of the Council of Ministes on Tuesday approved the final draft of the 16th Five-Year Periodic Plan (2081/82-2085/86). The National Planning Commission (NPC) had sent the draft of the sixteenth periodic plan with the major goals of 'Good Governance, Social Justice and Prosperity' to the Office of the Prime Minister and the Council of Ministers on Sunday. <br /> The periodic plan to be implemented from the next fiscal year 2081/82 carries some ambitious targets such as achieving an economic growth rate of 7.3 percent and per capita income of USD 2,413. In the current fiscal year, the projected economic growth rate of Nepal is 3.9 percent and the per capita income is USD 1,456. </span></p> <p><span style="font-size:18px">Similarly, the five-year plan targets reducing absolute poverty to 20.3 percent and consumer inflation to 5 percent by the fiscal year 2085/86. Similarly, it also plans to increase Nepal's human development index to 0.650 from the current 0.601, human wealth index from 76.3 to 78 and to reduce the economic and environmental risk index from 29.7 to 24. </span></p> <p><span style="font-size:18px">The plan aims to increase the average life expectancy of Nepalis to 73 years from the existing 71.3 years within five years. The number of families with access to a health facility within half an hour's distance is currently 77 percent, and the target is to increase it to 90 percent, literacy rate to 85 percent and reduce the unemployment rate from 11.4 percent to 5 percent. </span></p> <p><span style="font-size:18px">The periodic plan aims to take the hydropower production, which is currently around 3,300 MW, to 11,769 MW within five years. Similarly, access to the Internet will become 90 percent while 85 percent of families will have access to banks and financial institutions. </span></p> <p><span style="font-size:18px">A goal has been set to bring the rule of law index from 0.52 to 0.80, the global competitiveness index from 52 to 65 and the corruption reduction awareness index from 35 to 43. The periodical plan includes sectoral indicators, transformational strategy and major interventions to achieve the set goals and targets. </span></p> <p><span style="font-size:18px">According to the NPC, the draft has been prepared with transformational programs along with sectoral strategies. The updated planning includes transformational strategies, major interventions and quantitative targets. </span></p> <p><span style="font-size:18px">The sectoral headings include Strengthening Macroeconomic Fundamentals and Rapid Economic Growth; Enhancing Production, Productivity and Competitiveness; Decent Job and Productive Employment; Educated, Skilled and Healthy Human Capital Formation; Quality Infrastructure and Integrated Transport Management System; Modern, Sustainable and Systematic Urbanization and Settlements; Social Empowerment, Inclusion and Mobilization and Development and Reinforcement of Provincial and Local Economy and Expansion of Formal Sector. </span></p> <p><span style="font-size:18px">Likewise, Balanced Development for Reducing Poverty and Inequality and Creating an Equitable Society; Efficient Fiscal Management and Capital Expenditure Capacity Enhancement; Governance Reform and Promoting Good Governance' LDC Graduation and Beyond, and Sustainable Development Goals and Green Economy are the other sectoral themes for the 16th Periodic Plan. </span></p> <p><span style="font-size:18px">As targeted, the revenue-GDP ratio will be increased to 24 per cent from the current ratio of 17.8 percent and the federal expenditure will be increased to 32 per cent in ratio to GDP from 26.5 percent at present. </span></p> <p><span style="font-size:18px">Similarly, the 16th periodic plan has targeted not to exceed the sovereign loan from 45 percent of the GDP while the trade deficit would be reduced to 24 per cent in ratio to GDP from 27 per cent at present. </span></p> <p><span style="font-size:18px">Likewise, the inflow of remittance would be maintained between 22 to 24 per cent of the GDP. </span></p> <p><span style="font-size:18px">The 16th periodic plan has set some ambitious targets for increasing domestic production and productivity including establishing 140 industrial zones, establishing one more special economic zone and increasing the power production and consumption as well. </span></p> <p><span style="font-size:18px">As planned, electricity worth Rs 41 billion would be exported year-on-year by the end of the 16th periodic plan and the energy sector would be promoted to reduce the overall trade deficit. </span></p> <p><span style="font-size:18px">The periodic plan has targeted to create 1.2 million jobs in a year and increase the minimum wages of the workers to Rs 25,000 per month while bringing the number of social security beneficiaries to 2 million. </span></p> <p><span style="font-size:18px">A plenary meeting of the National Planning Commission held in early May 2023 had approved the 16th five-year periodic plan (2081/82-2085/86). </span></p> <p><span style="font-size:18px">The draft of the 16th plan has the objective of maintaining good governance in political, administrative and judicial sectors, maintaining social justice in health, education, employment sectors, and achieving prosperity in social life, economic development and national economy. </span></p> <p><span style="font-size:18px">The new periodic plan has determined a strategy of achieving good governance, social justice and prosperity through structural transformation by identifying, addressing and resolving structural obstacles seen in development activities. </span></p> <p><span style="font-size:18px">The structural transformation strategy has incorporated the issues of adopting latest technology and management methods based on research and development, producing decent, productive and inclusive employment. </span></p> <p><span style="font-size:18px">As per the draft, the government will adopt a policy to run national skill development and employment programs in collaboration with private and non-government sectors while priority would be given for the empowerment of marginalized communities and promoting inclusive employment through affirmative action. </span></p> <p><span style="font-size:18px">"Employment will be created within the country by producing skilled and capable human resources through the utilization of demographic dividends in all three-levels of the government," reads the concept paper of the periodic plan. A strategy has been adopted to identify new destination countries with high returns along with safe and secured work for foreign employment and signing of bilateral labor agreements.</span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'Periodic, Plan, Draft, National, Planning, Commission, Index, growth, economy, human, development, poverty', 'description' => '', 'sortorder' => '20699', 'image' => '20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-14 10:25:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20971', 'article_category_id' => '1', 'title' => 'Fiscal Federalism Progressing at a Moderate Pace in Nepal: WB Report', 'sub_title' => 'Nepal Fiscal Federalism Update 2024 Recommends Further Reforms to Strengthen Outcomes', 'summary' => 'Kathmandu: Nepal’s legal and institutional reforms under fiscal federalism and public financial management at the provincial and local levels have continued but at a moderate pace, says the World Bank’s latest report.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Nepal’s legal and institutional reforms under fiscal federalism and public financial management at the provincial and local levels have continued but at a moderate pace, says the World Bank’s latest report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Nepal Fiscal Federalism Update 2024 published by the World Bank, a reduction of available financial resources in fiscal year 2023 for provincial and local governments, mainly due to a decrease in federal revenue, led to the first fiscal deficit at the subnational level since the outset of fiscal federalism in 2017. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, the World Bank said that the Fiscal Federalism Coordination Division at the Ministry of Finance was designated to coordinate public financial management reform efforts and the preparation and implementation of a Fiscal Federalism Roadmap to enhance the outcomes of fiscal federalism and public financial management including improved revenue generation for all three tiers of government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the World Bank, its latest report provides a comprehensive review of the progress of fiscal federalism in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The recommendations are well aligned with our national-level vision on smoothing the fiscal transfers to help subnational governments carry out their responsibilities effectively. The report also informs and supports our ongoing efforts to clarify responsibilities among the three tiers of government and advance fiscal federalism,” the World Bank quoted Chief Secretary Dr. Baikuntha Aryal as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Building on the first edition of the Nepal Fiscal Federalism Update, the 2024 edition explores in-depth the key pillars of fiscal federalism in Nepal: Revenue Assignment and Administration; Expenditure Assignment and Administration; Inter-Governmental Fiscal Transfers; Borrowing and Capital Finance; and Fiscal Revenue from Natural Resources. It recommends specific measures to upgrade the Inter-Governmental Fiscal Transfer system and establish a consolidated public financial management performance database that includes data from the subnational levels to enhance evidence-based decision making and transparency, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The report highlights the need to upgrade institutional arrangements for the Intergovernmental Fiscal Transfers system to make the transfers more needs-based and timely, and to increase the fiscal autonomy of provincial and local governments, in order to improve fiscal federalism outcomes,” said Balananda Paudel, chairman of the National Natural Resources and Fiscal Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The report also recommends strengthening provincial and local-level institutional arrangements for fiscal federalism and public financial management operations, including actions to improve budget credibility to improve delivery of services by subnational governments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Fiscal Federalism is a foundation for sustained service delivery by provincial and local governments. They need adequate financial resources and the ability to make spending decisions at the subnational level, in the spirit of federalism and the Constitution,” said Faris Hadad-Zervos, World Bank’s country director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to supporting the Government of Nepal, in close collaboration with other development partners, to further solidify fiscal federalism in Nepal.”</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'World, Bank, Nepal, Fiscal, Federalism, update, report', 'description' => '', 'sortorder' => '20698', 'image' => '20240513022618_World.jpg', 'article_date' => '2024-05-13 14:25:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20970', 'article_category_id' => '1', 'title' => 'Nepali Students Spent Over Rs 95 Billion for Education Abroad this Year', 'sub_title' => '', 'summary' => 'Kathmandu: Nepali students opting to study abroad have spent Rs 95.85 billion for foreign education in the first nine months of the current fiscal year, which is far more than the entire income of Rs 60.45 billion generated by the tourism industry of Nepal in the review period.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Nepali students opting to study abroad have spent Rs 95.85 billion for foreign education in the first nine months of the current fiscal year, which is far more than the entire income of Rs 60.45 billion generated by the tourism industry of Nepal in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank, the travel payments under the service account increased 42.5 percent to Rs 143.22 billion, including Rs 95.85 billion for education. Such payments were Rs 100.54 billion and Rs 67.19 billion respectively in the same period of the previous year, states the Current Macroeconomic and Financial Situation Report of Nepal unveiled by the central bank on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, travel income under the service account increased 40 percent to Rs 60.45 billion in the review period which was Rs 43.17 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, net services income remained at a deficit of Rs 52.23 billion in the review period compared to a deficit of Rs 63.91 billion in the same period of the previous year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'Nepal, Rastra, Bank, report, macroeconomic, financial, situation, central, education, tourism, service, net, billion, deficit, dollar, US', 'description' => '', 'sortorder' => '20697', 'image' => '20240513020732_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-13 14:05:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20967', 'article_category_id' => '1', 'title' => 'What's Behind the Wave of Recent Incidents on Boeing Planes?', 'sub_title' => '', 'summary' => 'New York: Boeing has been in the headlines lately following a series of problems with its aircraft, with the most recent incidents in Turkey and Senegal, the AFP reported.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New York: Boeing has been in the headlines lately following a series of problems with its aircraft, with the most recent incidents in Turkey and Senegal, the AFP reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The French news agency published a news report citing experts that the episodes, which follow a near-disastrous panel blowout on an Alaska Airlines jet in January, point to production and maintenance issues. According to the experts, they don't see an obvious pattern behind the myriad incidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Rash of incidents</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US plane maker has been under scrutiny since January 5, when a Boeing 737 MAX 9 operated by Alaska Airlines made an emergency landing after a fuselage panel blew out, somehow avoiding serious injuries in an incident that safety officials say could have been catastrophic, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">United Airlines has experienced recent issues on various flights involving Boeing planes, as has Southwest Airlines, which in early April had an engine fire on one flight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Thursday, a Boeing 737-300 skidded off a runway in Senegal, resulting in 11 injuries, including four that were serious.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">That followed a Wednesday incident in Istanbul in which a Boeing 767 cargo plane belonging to FedEx landed on its nose after its front landing gear failed to deploy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such a confluence of incidents is "pretty rare" within air travel, aviation expert Bertrand Vilmer told AFP, describing the myriad "abnormal" problems as reflecting "an alignment of unfavorable planets."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Alternative causes </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aviation experts usually look to three possible explanations for problems, according to AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There can be a design defect, as with the two fatal crashes on 737 MAX jets in 2018 in Indonesia and 2019 in Ethiopia that involved a flaw in a flight stabilizing system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aviation watchers have pointed to a production defect as the likely source of the Alaska Airlines incident, which entailed a Boeing 737 MAX 9 that had only been delivered in October.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A preliminary report by the National Transportation Safety Board published in February found that four bolts meant to help secure the panel that blew off were missing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A third possible cause would be insufficient maintenance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While design and production are the responsibility of the plane maker, the airline is in charge of keeping up the plane once it receives it, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Once the aircraft is delivered, Boeing has nothing to do with it anymore" in relation to maintenance, Richard Aboulafia of AeroDynamic Advisory told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Safest form of transport? </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notwithstanding the recent spate of incidents, aviation experts point to a strong safety record overall.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We haven't had a single casualty in the entire US airline industry in way over a decade, despite millions of people flown," AFP quoted Aboulafia as saying. "That's incredible."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aboulafia calls modern flying "the safest form of transport ever created by people," noting that "everyday, hundreds of people get killed on the roads."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Boeing's rival, Airbus, has not been completely spared of difficulty. Hundreds of planes produced by the European company are being taken out of service to check for microscopic "contamination" of metals in engines made by Pratt & Whitney.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Airbus also had a public dispute with Qatar Airways involving the degradation of exterior plane surfaces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But there have been fewer such issues at Airbus and not one incident that drew a comparable level of attention as Alaska Airlines, experts said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Every incident that has occurred on Boeing airplanes this year has made headlines, suggesting that Boeing airplanes are unsafe," said a note from equity research firm Bernstein.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The reality is that the number of incidents in the US on Airbus and Boeing airplanes so far this year is proportional to the number of airplanes in the fleets of US carriers."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US commercial fleet currently has about 4,800 planes, with about 60 percent Boeing planes, according to Cirium, an aviation analytics firm. -- AFP</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'Boeing, aircraft, safety, transport, glitches, Airbus, fatal, accidents, maintenance, pattern, disaster', 'description' => '', 'sortorder' => '20695', 'image' => '20240513073023_Boeing_TAAG_Angola_Airlines.jpg', 'article_date' => '2024-05-13 07:29:33', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20984', 'article_category_id' => '1', 'title' => 'Big Hospitals to Provide OPD Services in Two Shifts', 'sub_title' => '', 'summary' => 'Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Presenting the government's policies and programmes for the upcoming fiscal year in the joint session of the federal parliament on Tuesday, President Ram Chandra Paudel said that the federal hospitals would be restructured on the basis of their workloads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Bir Hospital, National Trauma Centre, Kanti Children's Hospital and some other hospitals having enough human resources will run OPD services in two shifts while the infrastructures of Kanti Children's Hospital would be upgraded to ensure state-of-the-art services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Kanti Children's Hospital will be equipped with the construction of additional infrastructures and upgradation. Shahid Gangalal National Heart Centre will be developed as an institution capable of producing specialists in cardiology," reads the announcement made by President Paudel. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Likewise, the upcoming year's policies and programmes stated that the federal hospitals or health science academies at the provincial level will be upgraded to 500 beds respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Human organ transplant institutions and services will be upgraded and expanded. Special programmes will be conducted for safe motherhood and disease control. A free screening programme for prevention of cervical cancer and vaccination services for girls in the age group of 10 to 14 years will be extended to district hospitals," the President read while unveiling the policies and programmes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the announcement, the public health surveillance system will be strengthened for pandemic prevention, control, and preparedness and response to health emergencies and the health personnel will be deployed at border and entry points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"A separate institutional arrangement will be made for the prevention of non-communicable disease. An action plan based on the "One Health Policy" will be implemented to minimize probable adverse effects on human health from animals, plants, and the environment," reads the policies and programmes of the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => 'hospital, service, OPD, out, door, patient, two, shift, government, Nepal', 'description' => '', 'sortorder' => '20711', 'image' => '20240515103139_20240514091928_20230830033211_Hospital.jpg', 'article_date' => '2024-05-15 10:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20983', 'article_category_id' => '1', 'title' => 'Budget to Align Announced Polices and Programmes: Finance Minister', 'sub_title' => '', 'summary' => 'Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 15: Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Talking to the media after the announcement of the upcoming fiscal year's policies and programmes by the President, Finance Minister Pun argued that there will not be incompatibility in the government's policies and programmes, and budget. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"There used to be complaints about the incompatibility between the budget, and policies and programmes but it will not happen this time," Finance Minister assured. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun added that the government's policies and programmes are good and the budget will be brought to implement and supplement them for the development of the country. </span></span></p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20710', 'image' => '20240515085242_collage (1).jpg', 'article_date' => '2024-05-15 08:51:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 2 => array( 'Article' => array( 'id' => '20981', 'article_category_id' => '1', 'title' => 'Government to Undertake Policy Intervention to Address Issues of Cooperatives', 'sub_title' => '', 'summary' => 'Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives. This commitment was reaffirmed through its policies and programs for the upcoming fiscal year (FY 2024-25), presented by President Ram Chandra Paudel before a joint sitting of the Federal Parliament on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Paudel stated that the government will come up with legal provisions as the policy level to tackle the challenges faced by banks, financial institutions, and cooperatives. According to the outlined policies and programs, the government aims to promote healthy competition, supervision, and regulation by incorporating feedback received from various stakeholders to address issues within these institutions and the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the provision of refinancing and restructuring of loans for microfinance borrowers and adapting the cooperative policy to current needs. Additionally, cooperatives will be required to connect to the Cooperative and Poverty-related Management Information System. Those cooperatives with government ownership will receive support for integration, while savings and credit cooperatives will be encouraged to consider mergers, aligning with the government’s new policies and programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To consolidate small capital for large projects, the government aims to integrate scattered resources and involve private investment companies in operating and managing defunct industries such as the Gorakhkali Rubber Industry, Butwal Spinning Mills, and Hetauda Garment Factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the government intends to pursue policies to ensure fair, balanced, and transparent revenue distribution. Grants will be allocated based on objective criteria, and integrated laws will be formulated to govern the mobilization and sharing of natural resources, investment, and profit-sharing among the three tiers of government, as well as to resolve disputes among them.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In an effort to mobilize innovative instruments of development finance and encourage private capital mobilization, the government has adopted additional legal provisions. It promises to enact legal and structural interventions to improve both domestic and external investment climates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the government pledged to streamline the approval process for domestic and foreign investments, making it more convenient and predictable through the implementation of an automated digital system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Poudel emphasized that Nepal's country rating will be determined in the upcoming fiscal year, signaling the government's commitment to facilitating foreign loans and other mixed forms of investment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20708', 'image' => '20240514065714_RS-KTM-11715679379248copy - Copy.jpg', 'article_date' => '2024-05-14 18:56:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20980', 'article_category_id' => '1', 'title' => 'Two Climbers from Mongolia go Missing during Everest Expedition', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kathmandu: Two citizens from Mongolia have gone missing during an expedition to Sagarmatha (Mt Everest).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Tourism, those missing have been identified as Usukhjargal Tsedendamba, 31 and Purevsuren Lkhagvajav, 53. They both are males. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> The department was informed about the incident by its Field Office at the Everest Base Camp. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> They were last seen ascending the peak of Mt Everest from Camp IV at 8:45 am on May 13 by another expedition team. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The search operation for them is underway at potential locations with the help of rescue management agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Their expedition was arranged by the Eight K Expeditions Pvt Ltd. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20707', 'image' => '20240514054707_20230518094613_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2024-05-14 17:46:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20979', 'article_category_id' => '1', 'title' => 'Post-Earthquake Reconstruction in Western Nepal to Cost Rs 63.58 Billion', 'sub_title' => '', 'summary' => 'Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Disaster Risk Reduction and Management Authority (NDRRMA) conducted a preliminary damage assessment valuing the destruction at approximately Rs 58 billion, with projected reconstruction costs exceeding Rs 63.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bharat Mani Pandey, Chief of NDRRMA’s Policy, Planning, and Monitoring Division, confirmed that reconstruction efforts are advancing following the completion of the preliminary study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An earthquake measuring 6.4 on the Richter scale, centered at Ramidanda in Jajarkot district, struck on November 3, 2023, claiming 154 lives and injuring 366 others. Another tremor, measuring 5.3 on the Richter scale, hit Bajhang on October 3, 2023, resulting in one fatality and 30 injuries. Prior to these events, an earthquake with a magnitude of 6.6 on the Richter scale occurred in Doti on November 8, 2022, causing six fatalities and eight injuries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NDRRMA data, these earthquakes damaged 95,787 houses, with an estimated value of Rs 43.39 billion. Additionally, 204 school buildings, 70 government and public buildings, 11 cultural heritage sites, nearly 200 kilometers of roads, and 121 irrigation projects were also affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Jajarkot earthquake caused the most significant human and property damage, with over 86,000 houses affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA's preliminary assessment estimates a total reconstruction cost of Rs 63.58 billion, allocated as follows: Rs 52.46 billion for private houses, government buildings, and health, education, and cultural structures; Rs 7.18 billion for other infrastructure sectors; and Rs 1.73 billion for the enterprise sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The reconstruction process is underway, with plans to seek approval from the Finance Ministry for the required budget after finalizing the detailed damage assessment concept. This will facilitate retrofitting, reconstruction, and resettlement of earthquake-damaged structures in Jajarkot, Bajhang, and Doti.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Anil Pokharel, NDRRMA Chief Executive, confirmed that reconstruction activities will proceed, as the Disaster Risk Reduction and Management Executive Committee, chaired by the home minister, has approved the 'Retrofitting, Reconstruction, and Resettlement Grant Procedure for Private Houses of Disaster Affected, 2081'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Beneficiaries will be grouped into 'A', 'B', and 'C' categories, with housing reconstruction activities prioritized accordingly. Local levels will play a significant role in the process, including preliminary loss recording and beneficiary identification by the Local Disaster Risk Reduction and Management Committees. Agreements between beneficiaries and ward chairpersons will follow, with a reconstruction completion timeline of two years post-agreement signing. -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20706', 'image' => '20240514041547_20231105112523_HK-Jajarkot-IMG_9219.jpg', 'article_date' => '2024-05-14 16:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20978', 'article_category_id' => '1', 'title' => 'NEPSE Posts Significant Gain of 28.62 Points to Close at 2027.51', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 14: The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 320 scrips were traded on the NEPSE through 59,856 transactions. A total of 9,855,285 shares changed their hands resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited(CHDC) led the turnover with the total transaction of Rs 15 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha(SAMAJ), Upakar Laghubitta Bittiya Sanstha Limited(ULBSL) and Unique Nepal Laghubitta Bittiya Sanstha Limited(UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Urja Bikas Company Limited(HURJA) incurred the maximum loss of 4.64%, closing at a market price of Rs 290 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector closed in the positive territory. Microfinance Index and HydroPower Index recorded the highest gains at 3.44% and 3.22% respectively. Trading Index experienced the least gain of 0.03%. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20705', 'image' => '20240514034002_collage (11).jpg', 'article_date' => '2024-05-14 15:38:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '20977', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the Office of the Prime Minister and Council of Ministers on Tuesday approved the policies and programmes, said Minister for Communications and Information Technology and Spokesperson of the government, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel is scheduled to present the policies and programmes of the upcoming fiscal year in a joint session of the Federal Parliament on Tuesday afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also endorsed the 16th five-year plan, shared Minister Sharma. The National Planning Commission had sent the draft of the 16th periodic plan (2081/81-2085/86) to the Office of the Prime Minister and Council of Ministers on Sunday for final endorsement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20704', 'image' => '20240514025910_20240115115317_pm.jpg', 'article_date' => '2024-05-14 14:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20976', 'article_category_id' => '1', 'title' => 'Auto Traders Rush for Import of EVs Anticipating Tax Hike ', 'sub_title' => '', 'summary' => 'Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Government officials are suspicious about a significant surge in the import of both four-wheelers and two-wheelers powered by electricity in recent times. This uptick is believed to be driven by apprehensions of impending tax hikes in the budget for the upcoming fiscal year (FY), slated to be announced on May 28.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">The import of electric vehicles has increased due to the lower tax rates compared to vehicles powered by petroleum products, significantly impacting the government's revenue from vehicle imports</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the data of the Department of Customs, the government collected revenue of Rs 90 billion from the import of vehicles and their parts in the fiscal year 2078/79, which dropped to Rs 33.33 billion in the last fiscal year 2079/80. In the first nine months of the current fiscal year 2080/81, the department has collected Rs 39.89 billion in revenue from import of vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">As revenue from vehicle imports, a primary source of government income, has significantly decreased, importers of electric vehicles are concerned about potential tax hikes in the upcoming budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">A representative of SPG Automobile, the seller of the Omoda-5 electric vehicle, told New Business Age that he strongly believes that the tax rate imposed on EVs will increase to some extent due to the increase in the import of electric vehicles and the decrease in the import of petroleum-based vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Amidst such suspicions of the importers, the northern customs offices are busy clearing the customs of the growing number of electric vehicles. Nepal also imports the largest number of electric vehicles from China, which surpasses the world in the production and export of electric vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Dayanand KC, Chief Customs Officer of Tatopani Customs Office, told New Business Age, "Electric Vehicles are being imported at the rate of 50/60 vehicles per day. A total of 416 electric vehicles in the month of Chaitra (mid-March to mid-April) while more than 600 EVs have arrived in the month of Baisakh (mid-April to mid-May)."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, 70 vehicles entered through the checkpoint on Saturday alone. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Last year only 219 vehicles entered through this point. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"The increase in import of electric vehicles has also disturbed other vehicles used in transporting goods at the border," KC said, adding, "As of Saturday, 1,136 vehicles have arrived from China this year."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, there is a significant contribution to the revenue of Tatopani Customs due to the high volume of electric vehicles imported in the current year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"Tatopani Customs is collecting the most revenue from electric vehicles and the contribution is expected to be even more this year," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the customs officials, the importers may have imported a large number of electric vehicles in a hurry due to fear that there will be a policy change in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Similarly, the import of electric vehicles through Rasuwagadhi customs has also increased. Rasuwagadhi Customs Office Chief Ram Prasad Pathak said that BYD cars, Joy Long micro bus, King Long micro electronic bus and vans are entering through the checkpoint on a daily basis. According to him, 50 such vehicles enter through Rasuwagadhi Customs daily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the Rasuwagadhi Customs Office, 3,981 electric four-wheelers have been imported from Rasuwagadhi as of Sunday of the current fiscal year. The customs office has collected revenue of Rs 4.19 billion from the import of EVs. In the last fiscal year, 2,073 such vehicles entered through the same channel from which the government collected Rs 1.13 billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"We have not achieved the revenue collection target yet because the target has been set quite high. However, the contribution of electric vehicles to the revenue is still high," Pathak told NBA.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20703', 'image' => '20240514020650_20200317060256_Clipboard08.jpg', 'article_date' => '2024-05-14 14:06:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20975', 'article_category_id' => '1', 'title' => 'Government Seeks Proposals for Gold Exploration in Rolpa', 'sub_title' => '', 'summary' => 'Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district. The government on Monday called for proposals to issue a license for detailed exploration of gold mines in the area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government is seeking applications from the private sector for the detailed study and exploration after a preliminary study by the Department of Mines and Geology found traces of gold on the rocks in the rural municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition to exploration of gold, the department has called for proposals to issue permits for extracting limestone from three mines along with extraction of granite, dolomite, magnesite and iron from one mine each in different parts of the country. The department has also published a notification for further exploration of two phosphorite mines.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is mentioned in the notification that the application for exploration permit should be submitted within 45 days and for mining permit within 60 days from the date of publication of the notification.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Shiv Kumar Baskota, under-secretary of the mineral resources branch of the department, the government has so far issued three permits for gold exploration. Among them, two permits have been issued for exploration in Rolpa's Sunchahari Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The newly issued proposal is for exploration in a new place within Sunchhahari Rural Municipality," Baskota told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, Vienna Multipurpose Group Pvt Ltd and Classic Minerals Pvt Ltd have been given permission to explore gold within Sunchhahari Rural Municipality, while Sangrila Minerals Pvt Ltd has been given permission to explore gold in Swargadwari area of Pyuthan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the officials of the department, they has been issuing permits to search for two types of gold mines. First kind involves the permit for exploring the primary source of gold found in the rock and the second one is to explore the source of gold found in the rivers. Sangrila Minerals has been given permission to search for gold that has flowed into the river.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Baskota, the department had issued permits in the past to search for gold on the banks of the Karnali River in Bardiya, on the banks of the Madi River in Pyuthan and on the banks of the Rapti River in Dang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Some domestic companies along with Nepali companies with Chinese investment and some other companies were issued exploration permits," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such permission is given for a period of years. “Most of them could not find the source and quit,” said Baskota. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, primary gold mines have not been found in any other place except Sunchhahari rural municipality of Rolpa.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, a proposal has been invited to extract limestone in Kupinde rural municipality of Salyan Rorang rural municipality of Dhading and Sitganga municipality of Arghakhanchi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, applications have been requested to operate granite mine in Roshi Rural Municipality of Kavrepalanchok District, dolomite in Tuwachung Municipality of Khotang, magnesite in Triyuga Municipality of Udayapur and iron mine in Bhume Rural Municipality of Rukum East.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the department, applications have also been requested for further exploration of phosphorite in Puchaudi Municipality of Baitadi and Dogadkedar Rural Municipality of the same district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'gold, exploration, permit, Nepal, Rolpa, Rukum, department, license, Chinese', 'description' => '', 'sortorder' => '20702', 'image' => '20240514012612_golddddddd.jpg', 'article_date' => '2024-05-14 13:24:58', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20974', 'article_category_id' => '1', 'title' => 'President to Unveil Government’s Policy and Programme in a Joint Meeting of Federal Parliament Today', 'sub_title' => 'Nepali Congress Decides not to Obstruct Parliament', 'summary' => 'Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress has been obstructing parliamentary session demanding the formation of a probe committee against the cooperative scam involving Deputy Prime Minister and Home Minister Ravi Lamichhane.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to media reports, the parliamentary party meeting of the main opposition party held at Singha Durbar on Tuesday morning, however, decided to allow the president to present the policy and programme.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">As per the schedule prepared by the Parliament Secretariat, President Ram Chandra Paudel will address the joint meeting of the federal parliament at 3:00 pm on Tuesday to announce the government's policy and programme for the fiscal year 2081/082 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, Deputy Spokesperson of Federal Parliament Secretariat Dasharath Dhamala shared that preparations for the joint meeting have been completed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federal Parliament Secretariat has extended invitations to Vice President Ramsahaya Prasad Yadav, Chief Justice Bishwambhar Prasad Shrestha and other dignitaries to attend the joint meeting of the House of Representatives (HoR) and National Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the main opposition Nepali Congress lawmaker Ramnath Adhikari said that the government's policy and programme should address the issues of people's livelihood, massive out-bound migration of youth and underdevelopment in the rural parts of the country, RSS reported. </span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20701', 'image' => '20240514115805_Parliament.jpg', 'article_date' => '2024-05-14 11:56:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20973', 'article_category_id' => '1', 'title' => 'Swedish Delegation Attending EU-Nepal Business Forum ', 'sub_title' => '', 'summary' => 'Kathmandu: Swedish Ambassador to Nepal, Jan Thesleff, is visiting Kathmandu from May 14 to 17 together with a delegation of Swedish businesses and government officials from the Swedish Energy Agency. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: Swedish Ambassador to Nepal, Jan Thesleff, is visiting Kathmandu from May 14 to 17 together with a delegation of Swedish businesses and government officials from the Swedish Energy Agency. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the visit, Ambassador Thesleff will participate in the second edition of the EU-Nepal Business Forum taking place on May 15-16, and meet with the ministers, including Minister for Foreign Affairs Narayan Kaji Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The business delegation includes companies such as Hexagon, Hitachi Energy and Saab. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the establishment of diplomatic ties between Sweden and Nepal in June 1960, the bilateral relations have prospered to a strong partnership founded on mutual respect, understanding and friendship over the decades, according to a press release issued by the Swedish Embassy in New Delhi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The countries have an ongoing cooperation on climate change and matters related to Article 6 of the Paris Agreement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“By participating in the EU-Nepal Business Forum, Sweden aims to further increase trade between our two nations and explore potential business opportunities involving Swedish and Nepalese companies," Ambassador Thesleff said, expressing hope that the bilateral cooperation with Nepal would be strengthened on climate action and the advancement of the sustainable development goals. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20700', 'image' => '20240514110455_swe.jpg', 'article_date' => '2024-05-14 11:04:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20972', 'article_category_id' => '1', 'title' => 'Cabinet Approves Draft of 16th Five-Year Periodic Plan with Ambitious Plans ', 'sub_title' => '', 'summary' => 'Kathmandu: The draft of the 16th Five-Year Periodic Plan (2081/82-2085/86) has been sent to the Council of Ministers for final approval. ', 'content' => '<p><span style="font-size:18px">Kathmandu: A meeting of the Council of Ministes on Tuesday approved the final draft of the 16th Five-Year Periodic Plan (2081/82-2085/86). The National Planning Commission (NPC) had sent the draft of the sixteenth periodic plan with the major goals of 'Good Governance, Social Justice and Prosperity' to the Office of the Prime Minister and the Council of Ministers on Sunday. <br /> The periodic plan to be implemented from the next fiscal year 2081/82 carries some ambitious targets such as achieving an economic growth rate of 7.3 percent and per capita income of USD 2,413. In the current fiscal year, the projected economic growth rate of Nepal is 3.9 percent and the per capita income is USD 1,456. </span></p> <p><span style="font-size:18px">Similarly, the five-year plan targets reducing absolute poverty to 20.3 percent and consumer inflation to 5 percent by the fiscal year 2085/86. Similarly, it also plans to increase Nepal's human development index to 0.650 from the current 0.601, human wealth index from 76.3 to 78 and to reduce the economic and environmental risk index from 29.7 to 24. </span></p> <p><span style="font-size:18px">The plan aims to increase the average life expectancy of Nepalis to 73 years from the existing 71.3 years within five years. The number of families with access to a health facility within half an hour's distance is currently 77 percent, and the target is to increase it to 90 percent, literacy rate to 85 percent and reduce the unemployment rate from 11.4 percent to 5 percent. </span></p> <p><span style="font-size:18px">The periodic plan aims to take the hydropower production, which is currently around 3,300 MW, to 11,769 MW within five years. Similarly, access to the Internet will become 90 percent while 85 percent of families will have access to banks and financial institutions. </span></p> <p><span style="font-size:18px">A goal has been set to bring the rule of law index from 0.52 to 0.80, the global competitiveness index from 52 to 65 and the corruption reduction awareness index from 35 to 43. The periodical plan includes sectoral indicators, transformational strategy and major interventions to achieve the set goals and targets. </span></p> <p><span style="font-size:18px">According to the NPC, the draft has been prepared with transformational programs along with sectoral strategies. The updated planning includes transformational strategies, major interventions and quantitative targets. </span></p> <p><span style="font-size:18px">The sectoral headings include Strengthening Macroeconomic Fundamentals and Rapid Economic Growth; Enhancing Production, Productivity and Competitiveness; Decent Job and Productive Employment; Educated, Skilled and Healthy Human Capital Formation; Quality Infrastructure and Integrated Transport Management System; Modern, Sustainable and Systematic Urbanization and Settlements; Social Empowerment, Inclusion and Mobilization and Development and Reinforcement of Provincial and Local Economy and Expansion of Formal Sector. </span></p> <p><span style="font-size:18px">Likewise, Balanced Development for Reducing Poverty and Inequality and Creating an Equitable Society; Efficient Fiscal Management and Capital Expenditure Capacity Enhancement; Governance Reform and Promoting Good Governance' LDC Graduation and Beyond, and Sustainable Development Goals and Green Economy are the other sectoral themes for the 16th Periodic Plan. </span></p> <p><span style="font-size:18px">As targeted, the revenue-GDP ratio will be increased to 24 per cent from the current ratio of 17.8 percent and the federal expenditure will be increased to 32 per cent in ratio to GDP from 26.5 percent at present. </span></p> <p><span style="font-size:18px">Similarly, the 16th periodic plan has targeted not to exceed the sovereign loan from 45 percent of the GDP while the trade deficit would be reduced to 24 per cent in ratio to GDP from 27 per cent at present. </span></p> <p><span style="font-size:18px">Likewise, the inflow of remittance would be maintained between 22 to 24 per cent of the GDP. </span></p> <p><span style="font-size:18px">The 16th periodic plan has set some ambitious targets for increasing domestic production and productivity including establishing 140 industrial zones, establishing one more special economic zone and increasing the power production and consumption as well. </span></p> <p><span style="font-size:18px">As planned, electricity worth Rs 41 billion would be exported year-on-year by the end of the 16th periodic plan and the energy sector would be promoted to reduce the overall trade deficit. </span></p> <p><span style="font-size:18px">The periodic plan has targeted to create 1.2 million jobs in a year and increase the minimum wages of the workers to Rs 25,000 per month while bringing the number of social security beneficiaries to 2 million. </span></p> <p><span style="font-size:18px">A plenary meeting of the National Planning Commission held in early May 2023 had approved the 16th five-year periodic plan (2081/82-2085/86). </span></p> <p><span style="font-size:18px">The draft of the 16th plan has the objective of maintaining good governance in political, administrative and judicial sectors, maintaining social justice in health, education, employment sectors, and achieving prosperity in social life, economic development and national economy. </span></p> <p><span style="font-size:18px">The new periodic plan has determined a strategy of achieving good governance, social justice and prosperity through structural transformation by identifying, addressing and resolving structural obstacles seen in development activities. </span></p> <p><span style="font-size:18px">The structural transformation strategy has incorporated the issues of adopting latest technology and management methods based on research and development, producing decent, productive and inclusive employment. </span></p> <p><span style="font-size:18px">As per the draft, the government will adopt a policy to run national skill development and employment programs in collaboration with private and non-government sectors while priority would be given for the empowerment of marginalized communities and promoting inclusive employment through affirmative action. </span></p> <p><span style="font-size:18px">"Employment will be created within the country by producing skilled and capable human resources through the utilization of demographic dividends in all three-levels of the government," reads the concept paper of the periodic plan. A strategy has been adopted to identify new destination countries with high returns along with safe and secured work for foreign employment and signing of bilateral labor agreements.</span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'Periodic, Plan, Draft, National, Planning, Commission, Index, growth, economy, human, development, poverty', 'description' => '', 'sortorder' => '20699', 'image' => '20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-14 10:25:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20971', 'article_category_id' => '1', 'title' => 'Fiscal Federalism Progressing at a Moderate Pace in Nepal: WB Report', 'sub_title' => 'Nepal Fiscal Federalism Update 2024 Recommends Further Reforms to Strengthen Outcomes', 'summary' => 'Kathmandu: Nepal’s legal and institutional reforms under fiscal federalism and public financial management at the provincial and local levels have continued but at a moderate pace, says the World Bank’s latest report.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Nepal’s legal and institutional reforms under fiscal federalism and public financial management at the provincial and local levels have continued but at a moderate pace, says the World Bank’s latest report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Nepal Fiscal Federalism Update 2024 published by the World Bank, a reduction of available financial resources in fiscal year 2023 for provincial and local governments, mainly due to a decrease in federal revenue, led to the first fiscal deficit at the subnational level since the outset of fiscal federalism in 2017. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, the World Bank said that the Fiscal Federalism Coordination Division at the Ministry of Finance was designated to coordinate public financial management reform efforts and the preparation and implementation of a Fiscal Federalism Roadmap to enhance the outcomes of fiscal federalism and public financial management including improved revenue generation for all three tiers of government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the World Bank, its latest report provides a comprehensive review of the progress of fiscal federalism in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The recommendations are well aligned with our national-level vision on smoothing the fiscal transfers to help subnational governments carry out their responsibilities effectively. The report also informs and supports our ongoing efforts to clarify responsibilities among the three tiers of government and advance fiscal federalism,” the World Bank quoted Chief Secretary Dr. Baikuntha Aryal as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Building on the first edition of the Nepal Fiscal Federalism Update, the 2024 edition explores in-depth the key pillars of fiscal federalism in Nepal: Revenue Assignment and Administration; Expenditure Assignment and Administration; Inter-Governmental Fiscal Transfers; Borrowing and Capital Finance; and Fiscal Revenue from Natural Resources. It recommends specific measures to upgrade the Inter-Governmental Fiscal Transfer system and establish a consolidated public financial management performance database that includes data from the subnational levels to enhance evidence-based decision making and transparency, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The report highlights the need to upgrade institutional arrangements for the Intergovernmental Fiscal Transfers system to make the transfers more needs-based and timely, and to increase the fiscal autonomy of provincial and local governments, in order to improve fiscal federalism outcomes,” said Balananda Paudel, chairman of the National Natural Resources and Fiscal Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The report also recommends strengthening provincial and local-level institutional arrangements for fiscal federalism and public financial management operations, including actions to improve budget credibility to improve delivery of services by subnational governments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Fiscal Federalism is a foundation for sustained service delivery by provincial and local governments. They need adequate financial resources and the ability to make spending decisions at the subnational level, in the spirit of federalism and the Constitution,” said Faris Hadad-Zervos, World Bank’s country director for the Maldives, Nepal, and Sri Lanka. “The World Bank is committed to supporting the Government of Nepal, in close collaboration with other development partners, to further solidify fiscal federalism in Nepal.”</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'World, Bank, Nepal, Fiscal, Federalism, update, report', 'description' => '', 'sortorder' => '20698', 'image' => '20240513022618_World.jpg', 'article_date' => '2024-05-13 14:25:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20970', 'article_category_id' => '1', 'title' => 'Nepali Students Spent Over Rs 95 Billion for Education Abroad this Year', 'sub_title' => '', 'summary' => 'Kathmandu: Nepali students opting to study abroad have spent Rs 95.85 billion for foreign education in the first nine months of the current fiscal year, which is far more than the entire income of Rs 60.45 billion generated by the tourism industry of Nepal in the review period.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: Nepali students opting to study abroad have spent Rs 95.85 billion for foreign education in the first nine months of the current fiscal year, which is far more than the entire income of Rs 60.45 billion generated by the tourism industry of Nepal in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank, the travel payments under the service account increased 42.5 percent to Rs 143.22 billion, including Rs 95.85 billion for education. Such payments were Rs 100.54 billion and Rs 67.19 billion respectively in the same period of the previous year, states the Current Macroeconomic and Financial Situation Report of Nepal unveiled by the central bank on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, travel income under the service account increased 40 percent to Rs 60.45 billion in the review period which was Rs 43.17 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, net services income remained at a deficit of Rs 52.23 billion in the review period compared to a deficit of Rs 63.91 billion in the same period of the previous year. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'Nepal, Rastra, Bank, report, macroeconomic, financial, situation, central, education, tourism, service, net, billion, deficit, dollar, US', 'description' => '', 'sortorder' => '20697', 'image' => '20240513020732_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-13 14:05:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20967', 'article_category_id' => '1', 'title' => 'What's Behind the Wave of Recent Incidents on Boeing Planes?', 'sub_title' => '', 'summary' => 'New York: Boeing has been in the headlines lately following a series of problems with its aircraft, with the most recent incidents in Turkey and Senegal, the AFP reported.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New York: Boeing has been in the headlines lately following a series of problems with its aircraft, with the most recent incidents in Turkey and Senegal, the AFP reported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The French news agency published a news report citing experts that the episodes, which follow a near-disastrous panel blowout on an Alaska Airlines jet in January, point to production and maintenance issues. According to the experts, they don't see an obvious pattern behind the myriad incidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Rash of incidents</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US plane maker has been under scrutiny since January 5, when a Boeing 737 MAX 9 operated by Alaska Airlines made an emergency landing after a fuselage panel blew out, somehow avoiding serious injuries in an incident that safety officials say could have been catastrophic, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">United Airlines has experienced recent issues on various flights involving Boeing planes, as has Southwest Airlines, which in early April had an engine fire on one flight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Thursday, a Boeing 737-300 skidded off a runway in Senegal, resulting in 11 injuries, including four that were serious.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">That followed a Wednesday incident in Istanbul in which a Boeing 767 cargo plane belonging to FedEx landed on its nose after its front landing gear failed to deploy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such a confluence of incidents is "pretty rare" within air travel, aviation expert Bertrand Vilmer told AFP, describing the myriad "abnormal" problems as reflecting "an alignment of unfavorable planets."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Alternative causes </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aviation experts usually look to three possible explanations for problems, according to AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">There can be a design defect, as with the two fatal crashes on 737 MAX jets in 2018 in Indonesia and 2019 in Ethiopia that involved a flaw in a flight stabilizing system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aviation watchers have pointed to a production defect as the likely source of the Alaska Airlines incident, which entailed a Boeing 737 MAX 9 that had only been delivered in October.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A preliminary report by the National Transportation Safety Board published in February found that four bolts meant to help secure the panel that blew off were missing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A third possible cause would be insufficient maintenance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">While design and production are the responsibility of the plane maker, the airline is in charge of keeping up the plane once it receives it, the news report added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Once the aircraft is delivered, Boeing has nothing to do with it anymore" in relation to maintenance, Richard Aboulafia of AeroDynamic Advisory told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Safest form of transport? </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Notwithstanding the recent spate of incidents, aviation experts point to a strong safety record overall.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We haven't had a single casualty in the entire US airline industry in way over a decade, despite millions of people flown," AFP quoted Aboulafia as saying. "That's incredible."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aboulafia calls modern flying "the safest form of transport ever created by people," noting that "everyday, hundreds of people get killed on the roads."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Boeing's rival, Airbus, has not been completely spared of difficulty. Hundreds of planes produced by the European company are being taken out of service to check for microscopic "contamination" of metals in engines made by Pratt & Whitney.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Airbus also had a public dispute with Qatar Airways involving the degradation of exterior plane surfaces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But there have been fewer such issues at Airbus and not one incident that drew a comparable level of attention as Alaska Airlines, experts said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Every incident that has occurred on Boeing airplanes this year has made headlines, suggesting that Boeing airplanes are unsafe," said a note from equity research firm Bernstein.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The reality is that the number of incidents in the US on Airbus and Boeing airplanes so far this year is proportional to the number of airplanes in the fleets of US carriers."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US commercial fleet currently has about 4,800 planes, with about 60 percent Boeing planes, according to Cirium, an aviation analytics firm. -- AFP</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-13', 'modified' => '2024-05-13', 'keywords' => 'Boeing, aircraft, safety, transport, glitches, Airbus, fatal, accidents, maintenance, pattern, disaster', 'description' => '', 'sortorder' => '20695', 'image' => '20240513073023_Boeing_TAAG_Angola_Airlines.jpg', 'article_date' => '2024-05-13 07:29:33', '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
