Nepal’s Trade Deficit Tops One Trillion

May 13, 2024 0 2 minutes 24 seconds to read

Kathmandu: Nepal’s trade deficit in the first nine months of the current fiscal year stands at Rs 1053.42…

Remittance Inflow Stands at Rs 1082 Billion in Nine Months

May 13, 2024 0 1 minutes 25 seconds to read

Kathmandu: The inflow of remittance in Nepal in the first nine months of the current fiscal year stands at Rs 1082.62 billion, according to the latest report of Nepal Rastra…

Finance Minister Assures for Prudent Tax Policy

May 13, 2024 0 1 minutes 30 seconds to read

Finance Minister Barshaman Pun said that there won't be arbitrary changes to the tax rate in the upcoming fiscal year's…

SC Scraps Writ Petitions Filed by Worldlink, Clears Way for ISPs to Pay Royalty to Government

May 13, 2024 0 4 minutes 5 seconds to read

Kathmandu: The Supreme Court has scrapped all eight writ petitions filed by Worldlink Communications, an internet service provider (ISP), against the government’s decision to impose Rural Telecommunications Development Fee and royalty charge on maintenance fee collected by the…

Inflation Moderates to 4.61 Percent in mid-April

May 13, 2024 0 1 minutes 25 seconds to read

Kathmandu: The year-on-year (y-o-y) consumer price inflation moderated to 4.61 percent in mid-April 2024 compared to 7.76 percent a year ago, according to the latest report of Nepal Rastra…

Current Account and BoP in Surplus, Foreign Exchange Reserves Increase in Current FY

May 13, 2024 0 2 minutes 46 seconds to read

Kathmandu: The current account of Nepal remained at a surplus of Rs 179.48 billion in the first nine months of the current fiscal year against a deficit of Rs 60.43 billion in the same period of the previous year, according to the latest report of Nepal Rastra…

Relocation of Valley’s Industries Essential for Better Urbanization: Minister Bhandari

May 12, 2024 0 1 minutes 49 seconds to read

Kathmandu: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has opined that relocation of Kathmandu valley’s industries would contribute to better urbanization. Minister Bhandari made such a remark while receiving a memo from the Grill and Steel Entrepreneurs' Federation Nepal at the ministry on…

Spring Ascent: Kami Rita Climbs Mount Everest for a Record 29th Time

May 12, 2024 0 1 minutes 30 seconds to read

Kathmandu: Kami Rita Sherpa has broken his own record for the most ascents of the world's highest peak, Sagarmatha (Mt Everest), reaching the summit for the 29th time on…

NEPSE Closes at 1974.50 with Gain of 8.26 Points

May 12, 2024 0 1 minutes 19 seconds to read

The Nepal Stock Exchange(NEPSE) Index witnessed a gain of 8.26 points or 0.42%, closing at 1974.50 on the first trading day of the week on…

Government's Policies and Programmes Hang in the Balance as NC Continues Parliament Obstruction

May 12, 2024 0 8 minutes 40 seconds to read

Kathmandu: The Nepali Congress has been obstructing the Parliament demanding a parliamentary inquiry against Deputy Prime Minister and Home Minister Rabi Lamichhane for his alleged involvement in co-operative…

Informal Talks on to Clear Parliament Obstruction

May 12, 2024 0 1 minutes 45 seconds to read

Kathmandu: Leaders of the major political parties have continued internal and informal dialogues to clear the obstruction of the federal parliament…

President Approves Resignation of Economic Expert Advisor Nepal

May 12, 2024 0 1 minutes 0 seconds to read

Kathmandu: President Ram Chandra Paudel has approved the resignation of economic expert advisor Dr Chiranjeevi…

Government is Committed to Facilitate and Secure Investment: PM Dahal

May 12, 2024 0 2 minutes 11 seconds to read

Kathmandu: Prime Minister Pushpa Kamal Dahal has said that the government is committed to give an impetus to the country's economic transformation by keeping the morale of investors, including the industrialists and business community,…

Icefall Doctors Scale Mt Everest, Opening the way for Other Aspiring Climbers

May 12, 2024 0 3 minutes 50 seconds to read

Kathmandu: Ten Sherpa climbers known as ‘icefall doctors’ for their role in fixing ropes for the expedition teams reached atop the world's highest peak Mt Everest late Friday, opening the route for other…

Heavy Rainfall likely in Koshi, Bagmati, Gandaki and Lumbini Provinces

May 12, 2024 0 1 minutes 36 seconds to read

Kathmandu: The Department of Hydrology and Meteorology has predicted heavy rainfall in some places of Koshi, Bagmati, Gandaki and Lumbini provinces on…

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By Madan Lamsal

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NEPSE

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			'id' => '20966',
			'article_category_id' => '1',
			'title' => 'Nepal’s Trade Deficit Tops One Trillion',
			'sub_title' => '',
			'summary' => 'Kathmandu: Nepal’s trade deficit in the first nine months of the current fiscal year stands at Rs 1053.42 billion.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: Nepal&rsquo;s trade deficit in the first nine months of the current fiscal year stands at Rs 1053.42 billion.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the latest report of Nepal Rastra Bank, the total trade deficit decreased by 2.8 percent to Rs 1053.42 billion in the review period against a decline of 17.1 percent in the corresponding period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The export-import ratio remained at 9.8 percent in the review period same as in the corresponding period of the previous year, states the Current Macroeconomic and Financial Situation Report of Nepal published by the central bank on Sunday.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">During the review period, merchandise exports decreased 3.7 percent to Rs 113.95 billion compared to a decrease of 26.3 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, exports to India and other countries decreased 6.2 percent and 2.0 percent respectively, whereas exports to China increased 232 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the NRB report, exports of zinc sheet, particle board, juice, polyester yarn and thread, and readymade garments among others increased whereas exports of palm oil, soybean oil, woolen carpet, tea, jute goods among others decreased.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, merchandise imports decreased 2.8 percent to Rs 1167.37 billion compared to a decrease of 18.1 percent a year ago. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, imports from India and other countries decreased 3.2 percent and 22.6 percent respectively while imports from China increased 33.4 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Imports of transport equipment, vehicle and spare parts, readymade garments, aircraft spare parts, electrical equipment, textiles among others increased whereas imports of gold, crude soybean oil, crude palm oil, petroleum products, rice/paddy among others decreased, the report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on customs points, exports from Bhairahawa, dry port, Jaleswor, Kanchanpur, Krishnanagar, Mechi, Rasuwa and Tatopani customs increased whereas exports from all the other major customs points decreased in the review period. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the import side, imports from dry port, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period. </span></span></p>
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			'title' => 'Remittance Inflow Stands at Rs 1082 Billion in Nine Months',
			'sub_title' => '',
			'summary' => 'Kathmandu: The inflow of remittance in Nepal in the first nine months of the current fiscal year stands at Rs 1082.62 billion, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The inflow of remittance in Nepal in the first nine months of the current fiscal year stands at Rs 1082.62 billion, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report unveiled by the central bank on Sunday reveals that the inflow of remittance to Nepal increased by 19.8 percent in the review period compared to an increase of 24.2 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US Dollar terms, inflow of remittance increased 17.7 percent to USD 8.15 billion in the review period compared to an increase of 13.9 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stood at 329,422 while those taking approval for renew entry was 212,721.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the corresponding period of the previous year, workers seeking labour permit for the first time was 387,839 and those seeking to renew their work permits stood at 217,959. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the net transfer increased 17.8 percent to Rs 1174.50 billion in the review period according to the NRB report. Such a transfer had increased 22.8 percent in the same period of the previous year.</span></span></p>
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			'id' => '20969',
			'article_category_id' => '1',
			'title' => 'Finance Minister Assures for Prudent Tax Policy',
			'sub_title' => '',
			'summary' => 'Finance Minister Barshaman Pun said that there won't be arbitrary changes to the tax rate in the upcoming fiscal year's budget.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">May 13: Finance Minister Barshaman Pun said that there won&#39;t be arbitrary changes to the tax rate in the upcoming fiscal year&#39;s budget.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">&nbsp;Pun stated that any adjustments to the tax rate will be made with careful consideration of national interests, rather than catering to interests of specific business houses. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Minister Pun assured that any changes would be accompanied by a clear rationale and would not disrupt long-term private sector investments. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Additionally, Pun highlighted the government&#39;s commitment to promoting open and transparent business policies and encouraging private sector participation in Nepal&#39;s development journey. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Minister Pun also addressed concerns regarding the slowdown in the construction sector, promising government efforts to address underlying issues causing the slowdown.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Moreover, Pun acknowledged the government&#39;s responsibility in addressing past financial liabilities, indicating readiness to manage liabilities amounting to around Rs 600 billion from previous years.</span></span></span></p>
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			'id' => '20963',
			'article_category_id' => '1',
			'title' => 'SC Scraps Writ Petitions Filed by Worldlink, Clears Way for ISPs to Pay Royalty to Government',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Supreme Court has scrapped all eight writ petitions filed by Worldlink Communications, an internet service provider (ISP), against the government’s decision to impose Rural Telecommunications Development Fee and royalty charge on maintenance fee collected by the ISPs.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The Supreme Court has scrapped all eight writ petitions filed by Worldlink Communications, an internet service provider (ISP), against the government&rsquo;s decision to impose Rural Telecommunications Development Fee and royalty charge on maintenance fee collected by the ISPs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A division bench of SC Justices Hari Prasad Phuyal and Dr Nahakul Subedi rejected Worldlink&#39;s claim by scrapping the petitions on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">With the SC&#39;s move, the government now can collect royalty and Rural Telecommunications Development Fees (RTDF) from Worldlink Communications which the ISP had refused to pay.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The SC verdict is likely to add billions of rupees to the state coffers from other ISPs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;As the SC has scrapped the writ petitions, the ISPs must now pay the dues,&rdquo; Govinda Prasad Ghimire, information officer at the Supreme Court, told New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government was unable to collect royalty revenue on maintenance charge from the internet service providers (ISPs) since the fiscal year 2072/073 BS, according to the Office of the Auditor General. The ISPs including Worldlink Communications were found to have evaded the tax by misinterpreting the law. However, the ISPs were paying the Rural Telecommunication Development Fee and royalties from the fees collected from customers for providing internet service.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">There has been a dispute between the government and the Internet Service Providers (ISPs) whether to consider the maintenance service provided by the ISPs as a telecommunication service or not and whether to pay a certain percentage of the fees collected by the ISPs to the Rural Telecommunication Development Fee and to the government as royalty.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government has been considering maintenance as a telecommunication service and has been asking the ISPs to pay two-tier tax. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Internet Service Providers Association of Nepal (ISPAN) claims that the ISPs have been regularly paying royalties and rural telecommunication development fees to be paid from income from telecommunication services in accordance to the Telecommunication Act, Telecommunication Regulations and Rural Telecommunication Development Fund Regulations. However, the umbrella body of ISPs maintained that there is no legal provision to pay royalties and rural telecommunication development fund fee from income generated from non-telecommunication services such as maintenance services.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The dispute led to the disruption in internet services across the country on May 2 after India&rsquo;s Airtel, which provides bandwidth to Nepali ISPs, stopped providing the bandwidth for six hours citing non-payment of dues by the Nepali ISPs. The ISPs were unable to clear their outstanding dues to Airtel because the Nepal Telecommunications Authority has not recommended foreign exchange facilities to them since a year arguing that they must first pay the Rural Telecommunication Development Fee and royalty. Airtel provided the bandwidth after assurance from the government and the ISPs that they will pay the dues.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Ministry of Communications and Information Technology had formed a study team led by Joint Secretary Gaurav Giri to probe into the tax evasion from the ISPs. The study team pointed out that nine ISPs were liable to pay Rs 3.64 billion in royalty revenue and Rural Telecommunications Development Fees to the government. Under the headings, the Worldlink Communications alone has to pay Rs 1.96 billion.&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the other hand, the Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, had published a list of 48 internet service providers (ISPs) in August for not paying the royalty amount and taxes under the heading of the Rural Telecommunication Development Fee. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the report published by the NTA in last December, 77 internet service providers had deposited more than Rs 1.67 billion. There are currently 128 internet service provider companies and 23 network service provider companies registered in Nepal.</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '20964',
			'article_category_id' => '1',
			'title' => 'Inflation Moderates to 4.61 Percent in mid-April',
			'sub_title' => '',
			'summary' => 'Kathmandu: The year-on-year (y-o-y) consumer price inflation moderated to 4.61 percent in mid-April 2024 compared to 7.76 percent a year ago, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The year-on-year (y-o-y) consumer price inflation moderated to 4.61 percent in mid-April 2024 compared to 7.76 percent a year ago, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report published by the central bank on Sunday reveals that the food and beverage category inflation stood at 5.21 percent whereas non-food and service category inflation stood at 4.14 percent in the review month.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of spices sub-category increased 22.64 percent, vegetable 16.99 percent, pulses and legumes 10.94 percent, cereal grains and their products 7.59 percent and non-alcholic drinks 6.06 percent in the review month. The y-o-y price index of ghee and oil subcategory decreased 10.10 percent in the review month, the report added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the non-food and services category, the y-o-y price index of miscellaneous goods and services sub-category increased 12.81 percent, recreation and culture 12.61 percent and education 7.31 percent in the review month. Meanwhile, the y-o-y price index of transportation sub-category decreased 0.33 percent in the review month, the NRB report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain regions stood at 4.06 percent, 4.58 percent, 5.33 percent and 4.32 percent respectively in the review month. Such inflation in these regions were 8.57 percent, 7.68 percent, 7.01 percent and 7.47 percent respectively a year ago.</span></span></p>
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			'id' => '20962',
			'article_category_id' => '1',
			'title' => 'Current Account and BoP in Surplus, Foreign Exchange Reserves Increase in Current FY',
			'sub_title' => '',
			'summary' => 'Kathmandu: The current account of Nepal remained at a surplus of Rs 179.48 billion in the first nine months of the current fiscal year against a deficit of Rs 60.43 billion in the same period of the previous year, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The current account of Nepal remained at a surplus of Rs 179.48 billion in the first nine months of the current fiscal year against a deficit of Rs 60.43 billion in the same period of the previous year, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report of Nepal unveiled by the central bank on Sunday states that the current account, in terms of the US dollar, registered a surplus of 1.35 billion in the review period against a deficit of 468.3 million in the same period last year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, capital transfer decreased 19.2 percent to Rs 4.78 billion and net foreign direct investment (FDI) remained a positive of Rs 6.48 billion, the NRB report added. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the same period of the previous year, capital transfer amounted to Rs 5.91 billion and net FDI amounted to Rs 2.62 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the Balance of Payments (BOP) remained at a surplus of Rs 365.16 billion in the review period against a surplus of Rs 174.28 billion in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US Dollar terms, the BOP remained at a surplus of 2.75 billion in the review period against a surplus of 1.32 billion in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank&rsquo;s report further mentions that the gross foreign exchange reserves increased 24.2 percent to Rs 1911.86 billion in mid-April 2024 from Rs 1539.36 billion in mid-July 2023. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US dollar terms, the gross foreign exchange reserves increased 22.7 percent to 14.36 billion in mid-April 2024 from 11.71 billion in mid-July 2023.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Of the total foreign exchange reserves, reserves held by NRB increased 25.4 percent to Rs 1688.21 billion in mid-April 2024 from Rs 1345.78 billion in mid-July 2023. Likewise, the reserves held by banks and financial institutions (except NRB) increased 15.5 percent to Rs 223.65 billion in mid-April 2024 from Rs 193.59 billion in mid-July 2023, the report added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The share of Indian currency in total reserves stood at 21.6 percent in mid-April 2024.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on the imports of nine months of 2023/24, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 15 months, and merchandise and services imports of 12.5 months. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The ratio of reserves-to-GDP, reserves-to-imports and reserves-to-M2 stood at 33.5 percent, 104 percent and 28.9 percent respectively in mid-April 2024. Such ratios were 28.8 percent, 83.0 percent and 25.0 percent respectively in mid-July 2023.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '20689',
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	(int) 6 => array(
		'Article' => array(
			'id' => '20956',
			'article_category_id' => '1',
			'title' => 'Relocation of Valley’s Industries Essential for Better Urbanization: Minister Bhandari   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has opined that relocation of Kathmandu valley’s industries would contribute to better urbanization.     Minister Bhandari made such a remark while receiving a memo from the Grill and Steel Entrepreneurs' Federation Nepal at the ministry on Sunday.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has opined that relocation of Kathmandu valley&rsquo;s industries would contribute to better urbanization.&nbsp;&nbsp;&nbsp;&nbsp; Minister Bhandari made such a remark while receiving a memo from the Grill and Steel Entrepreneurs&#39; Federation Nepal at the ministry on Sunday. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;In the developed countries, industries are located away from urban areas; we can also plan separate safe places for industries,&quot; he reiterated.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Minister Bhandari suggested the Federation that it adopted new technology as per the need of the time.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to him, we cannot compete in the global market with continuous reliance on import of raw materials. The foreign items must be replaced, he suggested.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A delegation led by the Federation&rsquo;s Chairman Thulo Babu Shrestha met the minister and demanded him to take initiatives to increase custom tariff on import of the products which Nepal itself produces in the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The minister assured the delegation that he would coordinate with the Finance Ministry to address the genuine demands. He also pledged ministry&rsquo;s support for adoption of new technology in the grill industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Federation put forth seven demands, including creation of atmosphere conducive for business. -- RSS&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '20955',
			'article_category_id' => '1',
			'title' => 'Spring Ascent: Kami Rita Climbs Mount Everest for a Record 29th Time',
			'sub_title' => '',
			'summary' => 'Kathmandu: Kami Rita Sherpa has broken his own record for the most ascents of the world's highest peak, Sagarmatha (Mt Everest), reaching the summit for the 29th time on Sunday.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: Kami Rita Sherpa has broken his own record for the most ascents of the world&#39;s highest peak, Sagarmatha (Mt Everest), reaching the summit for the 29th time on Sunday.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Sherpa surpassed his previous achievement during the spring expedition of the 8,848.86-meter-high mountain. Originally from Thame village in the Khumbu Pasang Lhamu rural municipality of Solukhumbu district, the 54-year-old record-holder has once again etched his name in history.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Rakesh Gurung, director of the Adventure Tourism and Mountaineering Section at the Department of Tourism, confirmed Kami Rita Sherpa&#39;s successful ascent early Sunday morning.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Having first conquered Everest on May 13, 1994, Kami Rita also holds the record for the most ascents of peaks above 8,000 meters.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He stands as the sole mountaineer to achieve the highest number of Everest ascents since Tenzing Norgay and Edmund Hillary&#39;s historic climb on May 29, 1953.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Following closely in the record-setting spree is Dawa Sherpa of Solukhumbu district, who scaled Everest for the 27th time last spring.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A team of ten Sherpa members, responsible for fixing ropes, ascended Everest on Friday night, paving the way for a total of 414 adventurers who have secured permits to climb Everest this spring season. -- RSS</span></span></p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '20954',
			'article_category_id' => '1',
			'title' => 'NEPSE Closes at 1974.50 with Gain of 8.26 Points',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange(NEPSE) Index witnessed a gain of 8.26 points or 0.42%, closing at 1974.50 on the first trading day of the week on Sunday.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 12: The Nepal Stock Exchange(NEPSE) Index witnessed a gain of 8.26 points or 0.42%, closing at 1974.50 on the first trading day of the week on Sunday. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&rsquo;s trading session, 311 scrips were traded on the NEPSE through 49,764 transactions, with 7,857,031 total shares changing their hands resulting in a total turnover of Rs 3.15 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shangrila Development Bank Limited(SADBL) led the turnover amount with the total transaction of Rs 10 crores. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shrijanshil Laghubitta Bittiya Sanstha(SHLB) recorded the highest gain of 10%, hitting the positive circuit for the day and closing ta a market price of Rs 1372 per share. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, Manushi Laghubitta Bittiya Sanstha(MLBS) incurred the maximum loss of 5.44%, closing at a market price of Rs 1200 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 indices closed in the negative territory except Finance Index, Hotels and Tourism Index and Microfinance Index. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Non-Life Insurance saw the highest gain of 2.64%, while Microfinance Index experienced the most loss at 1.35%.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '20953',
			'article_category_id' => '1',
			'title' => 'Government's Policies and Programmes Hang in the Balance as NC Continues Parliament Obstruction',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Nepali Congress has been obstructing the Parliament demanding a parliamentary inquiry against Deputy Prime Minister and Home Minister Rabi Lamichhane for his alleged involvement in co-operative fraud.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Kathmandu: The Nepali Congress has been obstructing the Parliament demanding a parliamentary inquiry against Deputy Prime Minister and Home Minister Rabi Lamichhane for his alleged involvement in co-operative fraud. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">The government has announced to present its policies and programmes for the next fiscal year (FY) on May 19. The Parliament Secretariat has already announced that President Ram Chandra Paudel will present the government&rsquo;s policies and programmes at the joint meeting of the House of Representatives and the National Assembly to be held at 3 pm on May 19.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">According to the rules of the Parliament, the president on behalf of the government must present the government&rsquo;s policies and programmes in the Parliament before announcing the budget. The policies and programmes shed light on the overall policies and priorities of the government for the coming year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">However, the Nepali Congress, which had also blocked the winter session of Parliament demanding an investigation against Deputy Prime Minister and Home Minister Lamichhane, again blocked the budget session of the Parliament which was called for May 10. The Nepali Congress has stuck to its stance of not allowing the House to proceed until a parliamentary committee is formed to investigate Lamichhane. However, the government is not in favor of forming such a committee so far.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">The Nepali Congress has not yet come up with a clear view on whether or not to allow the President to present the policies and programmes. The Congress leaders have said that a concrete decision on this matter can be taken by the meeting of the Congress parliamentary party called for Monday and that the policies and programmes cannot be presented in the current situation. The official meeting of NC held at the residence of NC President Sher Bahadur Deuba on Saturday also concluded that the government did not want to resume the parliament session.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">After the meeting, NC General Secretary Gagan Thapa told media persons, &quot;Not only the policies and programmes, but none of the government&#39;s activities can proceed until the parliamentary committee is formed. The conclusion of today&#39;s meeting is that we will not back down until a parliamentary inquiry committee is formed.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Another Congress leader and party spokesperson Dr Prakash Sharan Mahat said that top leaders including the party president are discussing with the prime minister about removing the obstruction of the House. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">After Prime Minister Pushpa Kamal Dahal formed a new government with support from the CPN UML and Rashtriya Swatantra Party (RSP) by severing its ties with the Nepali Congress, the right-wing party has strongly opposed the current government. The Nepali Congress has focused its criticism on Deputy Prime Minister and Home Minister Lamichhane than Prime Minister Dahal as the home minister is allegedly involved in co-operative scam.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Government reports have revealed that Lamichhane, who is not a member of Suryadarshan Cooperative, took Rs 10 million from the cooperative. Similarly, police investigation shows that Lamichhane also received money from Supreme Savings and Loan Cooperative Society in Butwal. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Lamichhane has admitted that he is not a member of any of the two cooperatives. A person who is not a member of a cooperative cannot take loans. However, documents show that Lamichhane took loans controversially. Although documents show that the money has been paid back, the cooperatives claim the money has not been deposited yet. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Lamichhane maintained his innocence saying that someone else opened a fake account in his name and received the money. He also claimed that the police investigation into the scam has revealed that the money was withdrawn without filing the loan request form and those who took away the loan did not provide details of the three generations required to obtain loan. Lamichhane added that the documents also do not have his signature or finger prints.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">He also reiterated in a statement issued on Friday that he is not a co-operative fraudster. Instead, he has announced that if he is found guilty of taking the loan, he is ready to give up politics.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">In response to Lamichhane&#39;s statement, Congress General Secretary Thapa said that he had strong evidence to confirm the allegations against Lamichhane. Thapa added that if he could not prove Lamichhane guilty, he would retire from politics.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">GB Rai had partnered with Lamichhane to operate Galaxy Four K Television under Gorkha Network Pvt Ltd, of which Lamichhane was the managing director. Now the television has been shut down. According to the government report, the operators of the television including Lamichhane had taken a loan of Rs 300 million from Pokhara&#39;s Suryadarshan Cooperative.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Meanwhile, leaders of the ruling party say that the NC turned against Lamichhane after he refused to support NC&rsquo;s candidate for the post of prime minister.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">UML President and former Prime Minister KP Sharma Oli said at an event held in Kathmandu on Saturday that Lamichhane was labeled as a corrupt member of the cooperative because he rejected the offer made by the Nepali Congress.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Although the ruling parties have agreed to investigate the cooperative sector as a whole, they have not agreed to form a parliamentary committee to investigate Lamichhane. Oli claims that the Nepali Congress will demand the resignation of the Home Minister Lamichhane as soon as such an inquiry committee is formed. If Lamichhane resigns as the Minister of Home Affairs, the ruling coalition is likely to collapse and therefor the ruling parties are hesitant to form a parliamentary probe committee against Lamichhane.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Chief Whip of CPN (Maoist Centre) Hitraj Pandey said that they are ready to investigate the entire cooperative sector including the allegations against Lamichhane. The Congress, on the other hand, has not announced a clear opinion on the matter of having a parliamentary inquiry into the cooperative sector as a whole. As the Parliament remains blocked, the process of making various laws has been interrupted.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Former Speaker Damannath Dhungana says that parties should not hold Parliament hostage. Parliament is the highest platform of the people. Legislation should be focused on the issue of people&#39;s livelihood. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">CPN (UML) chief whip Mahesh Bertaula expressed the hope that since discussions are being held at the top leadership level, the parliament will not be held hostage for long and a solution will be found.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '20951',
			'article_category_id' => '1',
			'title' => 'Informal Talks on to Clear Parliament Obstruction   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Leaders of the major political parties have continued internal and informal dialogues to clear the obstruction of the federal parliament meetings.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Leaders of the major political parties have continued internal and informal dialogues to clear the obstruction of the federal parliament meetings.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the very first day of budget session of federal parliaments on Friday, the main opposition party Nepali Congress stalled the parliament, posing a demand of parliamentary probe commission on embezzlement in cooperatives. It resulted in both parliaments&#39; failure to proceed with scheduled business.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In this connection, Prime Minister Pushpa Kamal Dahal is learnt to have talked to leaders including CPN UML on how consensus could be built for smooth running of the parliament.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, the Nepali Congress held a meeting of the office bearers on Saturday. Accusing the Deputy Prime Minister and Home Minister Rabi Lamichhane of his involvement in embezzlement of cooperatives fund, the NC has insisted on formation of a parliamentary probe committee on it.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Talking to the Rastriya Samachar Samiti (RSS), Chief Whip of CPN (Maoist Centre) Hitraj Pande informed that no agreement was made so far on clearing the parliamentary obstruction, but the government was devoted to find out solution at any cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Chief Whip of CPN UML Mahesh Bartaula also hoped the talk among the top leaders would pave a way for removal of house obstruction.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Both the meetings of the Upper and Lower Houses are slated for May 14. -- RSS&nbsp; </span></span></span></p>
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		'Article' => array(
			'id' => '20950',
			'article_category_id' => '1',
			'title' => 'President Approves Resignation of Economic Expert Advisor Nepal',
			'sub_title' => '',
			'summary' => 'Kathmandu: President Ram Chandra Paudel has approved the resignation of economic expert advisor Dr Chiranjeevi Nepal.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: President Ram Chandra Paudel has approved the resignation of economic expert advisor Dr Chiranjeevi Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Sunday, spokesperson for the Office of the President, Shailaja Regmi Bhattarai mentioned that the president has accepted the resignation tendered by his economic expert advisor Nepal, who is a former governor of Nepal Rastra Bank.&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">President Paudel thanked Nepal for his service during his tenure.&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Former Governor Nepal courted controversy recently over his remarks on the government&rsquo;s recent decision to include the new map of Nepal in the hundred-rupee notes of Nepali currency.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;&nbsp; </span></span></p>
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			'id' => '20952',
			'article_category_id' => '1',
			'title' => 'Government is Committed to Facilitate and Secure Investment: PM Dahal   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Prime Minister Pushpa Kamal Dahal has said that the government is committed to give an impetus to the country's economic transformation by keeping the morale of investors, including the industrialists and business community, high.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Prime Minister Pushpa Kamal Dahal has said that the government is committed to give an impetus to the country&#39;s economic transformation by keeping the morale of investors, including the industrialists and business community, high.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Inaugurating the Hyundai Motor Assembling Plant of Laxmi Motor Corporation in Nawalparasi on Friday, PM Dahal stated that the country would be taken ahead on the journey of prosperity through economic development.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He said the economy would be strengthened by taking the private sector into confidence, asserting that the government is committed to facilitate investment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;The country&#39;s economy cannot be made robust without the investment of the private sector and the collaboration between the state and the private sector. The productivity cannot be increased and employment opportunities also cannot be created without this,&quot; PM Dahal said, adding that the government is always in support of creating a climate conducive to investment, promoting the private sector and security and facilitation in the investment areas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Expressing the belief that the domestic and foreign investors would be attracted more towards the industry-friendly environment in Nepal with the operation of this new assembling plant, he said it would also help in import be substitution and creating jobs for hundreds of skilled and semi-skilled labourers along with the country&rsquo;s industrialization.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The prime minister said that the establishment of the plant would facilitate consumers to buy vehicles at a relatively less price and it would contribute positively to the consumption of domestic resource and electricity. He added that the establishment of the vehicle assembling plant is a testimony of partnership in the local development and on the GDP.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;Our fiscal and monetary policies should be promotional, rather than restrictive. These policies and laws should contribute to the increase in production and employment generation,&quot; he said.&nbsp; -- RSS </span></span></span></p>

<p>&nbsp;</p>
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			'id' => '20947',
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			'title' => 'Icefall Doctors Scale Mt Everest, Opening the way for Other Aspiring Climbers  ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Ten Sherpa climbers known as ‘icefall doctors’ for their role in fixing ropes for the expedition teams reached atop the world's highest peak Mt Everest late Friday, opening the route for other climbers.    ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Kathmandu: Ten Sherpa climbers known as &lsquo;icefall doctors&rsquo; for their role in fixing ropes for the expedition teams reached atop the world&#39;s highest peak Mt Everest late Friday, opening the route for other climbers.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">With the fixing of the ropes, the expedition to Mt Everest has formally opened this year, Khimlal Gautam, chief of the Field Office of the Department of Tourism, told the state-owned RSS.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">According to Gautam, the rope fixing team reached the top of Mt Everest at 8:15 pm on Friday.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&quot;Now, the route to Mt Everest is open for this season. Other climbers will scale Mt Everest following the successful summit of the peak by the Sherpa members,&quot; Gautam said.&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">According to RSS, the members of the rope fixing team include Dendi Sherpa, Tenzing Gyalzen Sherpa, Pemba Tasi Sherpa, Lakpa Sherpa, Dawa Rinze Sherpa, Dawa Sherpa, Pam Dorjee Sherpa, Suk Bahadur Tamang, Namgyal Dorjee Tamang and Lakpa Rinze Sherpa.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Meanwhile, AFP also confirmed that the icefall doctors climbed Mt Everest citing Chhang Dawa Sherpa of Seven Summit Treks, which led the team.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&quot;A good weather window has been predicted until May 14, it is possible we will see over a hundred summits by then,&quot; AFP quoted Gautam as saying.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">The Government of Nepal has issued 414 permits to mountaineers for this year&#39;s spring climbing season, which runs from April to early June.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Most Everest hopefuls are each escorted by a Nepali guide, meaning more than 800 climbers will tread the same path to the top of the 8,850-metre (29,035-foot) peak in the coming weeks, the French news agency further reported, adding, &ldquo;This year, China reopened the Tibetan route to foreigners for the first time since it closed in 2020 because of the coronavirus pandemic.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Nepal is home to eight of the world&#39;s 10 highest peaks and welcomes hundreds of adventurers each spring, when temperatures are warm and winds are typically calm. Last year, over 600 climbers made it to the peak of the highest mountain in the world. It also became the deadliest season on the mountain with 18 deaths, added AFP.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&ldquo;A boom in climbers has made mountaineering a lucrative business since Sir Edmund Hillary and Sherpa Tenzing Norgay made the first ascent in 1953.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Heavy Rainfall likely in Koshi, Bagmati, Gandaki and Lumbini Provinces  ',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Department of Hydrology and Meteorology has predicted heavy rainfall in some places of Koshi, Bagmati, Gandaki and Lumbini provinces on Sunday.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: The Department of Hydrology and Meteorology has predicted heavy rainfall in some places of Koshi, Bagmati, Gandaki and Lumbini provinces on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the department, the weather of the country is partly to generally cloudy in Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces, while it is mostly clear in the rest of the country. Some places of Koshi, Madhes, Bagmati, Gandaki and Lumbini are experiencing light to moderate rain with thunder, storm and lightning as of Sunday morning.&nbsp;&nbsp;&nbsp;&nbsp; This is due to the effect of the westerly and local winds as well as the low pressure system formed around Bihar in India, the Department of Hydrology and Meteorology added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The weather will remain partly to generally cloudy across the country in the afternoon, with light to moderate rain accompanied by thunder and lightning in some parts of the country. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lateer tonight, the weather will remain partly to general cloudy across the country. There is a possibility of light to moderate rain with thunder and lightning at some places of Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces as well as at one or two places of the remaining provinces.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In the next 24 hours, there is a possibility of light to moderate rain with lightning in some parts of the country, according to the weather bulletin issued by the department on Sunday morning. -- RSS</span></span></span></p>
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			'title' => 'Nepal’s Trade Deficit Tops One Trillion',
			'sub_title' => '',
			'summary' => 'Kathmandu: Nepal’s trade deficit in the first nine months of the current fiscal year stands at Rs 1053.42 billion.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: Nepal&rsquo;s trade deficit in the first nine months of the current fiscal year stands at Rs 1053.42 billion.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the latest report of Nepal Rastra Bank, the total trade deficit decreased by 2.8 percent to Rs 1053.42 billion in the review period against a decline of 17.1 percent in the corresponding period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The export-import ratio remained at 9.8 percent in the review period same as in the corresponding period of the previous year, states the Current Macroeconomic and Financial Situation Report of Nepal published by the central bank on Sunday.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">During the review period, merchandise exports decreased 3.7 percent to Rs 113.95 billion compared to a decrease of 26.3 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, exports to India and other countries decreased 6.2 percent and 2.0 percent respectively, whereas exports to China increased 232 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the NRB report, exports of zinc sheet, particle board, juice, polyester yarn and thread, and readymade garments among others increased whereas exports of palm oil, soybean oil, woolen carpet, tea, jute goods among others decreased.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, merchandise imports decreased 2.8 percent to Rs 1167.37 billion compared to a decrease of 18.1 percent a year ago. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, imports from India and other countries decreased 3.2 percent and 22.6 percent respectively while imports from China increased 33.4 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Imports of transport equipment, vehicle and spare parts, readymade garments, aircraft spare parts, electrical equipment, textiles among others increased whereas imports of gold, crude soybean oil, crude palm oil, petroleum products, rice/paddy among others decreased, the report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on customs points, exports from Bhairahawa, dry port, Jaleswor, Kanchanpur, Krishnanagar, Mechi, Rasuwa and Tatopani customs increased whereas exports from all the other major customs points decreased in the review period. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the import side, imports from dry port, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period. </span></span></p>
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			'title' => 'Remittance Inflow Stands at Rs 1082 Billion in Nine Months',
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			'summary' => 'Kathmandu: The inflow of remittance in Nepal in the first nine months of the current fiscal year stands at Rs 1082.62 billion, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The inflow of remittance in Nepal in the first nine months of the current fiscal year stands at Rs 1082.62 billion, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report unveiled by the central bank on Sunday reveals that the inflow of remittance to Nepal increased by 19.8 percent in the review period compared to an increase of 24.2 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US Dollar terms, inflow of remittance increased 17.7 percent to USD 8.15 billion in the review period compared to an increase of 13.9 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stood at 329,422 while those taking approval for renew entry was 212,721.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the corresponding period of the previous year, workers seeking labour permit for the first time was 387,839 and those seeking to renew their work permits stood at 217,959. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the net transfer increased 17.8 percent to Rs 1174.50 billion in the review period according to the NRB report. Such a transfer had increased 22.8 percent in the same period of the previous year.</span></span></p>
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			'sortorder' => '20693',
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	(int) 2 => array(
		'Article' => array(
			'id' => '20969',
			'article_category_id' => '1',
			'title' => 'Finance Minister Assures for Prudent Tax Policy',
			'sub_title' => '',
			'summary' => 'Finance Minister Barshaman Pun said that there won't be arbitrary changes to the tax rate in the upcoming fiscal year's budget.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">May 13: Finance Minister Barshaman Pun said that there won&#39;t be arbitrary changes to the tax rate in the upcoming fiscal year&#39;s budget.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">&nbsp;Pun stated that any adjustments to the tax rate will be made with careful consideration of national interests, rather than catering to interests of specific business houses. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Minister Pun assured that any changes would be accompanied by a clear rationale and would not disrupt long-term private sector investments. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Additionally, Pun highlighted the government&#39;s commitment to promoting open and transparent business policies and encouraging private sector participation in Nepal&#39;s development journey. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Minister Pun also addressed concerns regarding the slowdown in the construction sector, promising government efforts to address underlying issues causing the slowdown.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Moreover, Pun acknowledged the government&#39;s responsibility in addressing past financial liabilities, indicating readiness to manage liabilities amounting to around Rs 600 billion from previous years.</span></span></span></p>
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			'keywords' => '',
			'description' => '',
			'sortorder' => '20692',
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			'article_date' => '2024-05-13 08:49:11',
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	(int) 3 => array(
		'Article' => array(
			'id' => '20963',
			'article_category_id' => '1',
			'title' => 'SC Scraps Writ Petitions Filed by Worldlink, Clears Way for ISPs to Pay Royalty to Government',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Supreme Court has scrapped all eight writ petitions filed by Worldlink Communications, an internet service provider (ISP), against the government’s decision to impose Rural Telecommunications Development Fee and royalty charge on maintenance fee collected by the ISPs.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The Supreme Court has scrapped all eight writ petitions filed by Worldlink Communications, an internet service provider (ISP), against the government&rsquo;s decision to impose Rural Telecommunications Development Fee and royalty charge on maintenance fee collected by the ISPs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A division bench of SC Justices Hari Prasad Phuyal and Dr Nahakul Subedi rejected Worldlink&#39;s claim by scrapping the petitions on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">With the SC&#39;s move, the government now can collect royalty and Rural Telecommunications Development Fees (RTDF) from Worldlink Communications which the ISP had refused to pay.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The SC verdict is likely to add billions of rupees to the state coffers from other ISPs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;As the SC has scrapped the writ petitions, the ISPs must now pay the dues,&rdquo; Govinda Prasad Ghimire, information officer at the Supreme Court, told New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government was unable to collect royalty revenue on maintenance charge from the internet service providers (ISPs) since the fiscal year 2072/073 BS, according to the Office of the Auditor General. The ISPs including Worldlink Communications were found to have evaded the tax by misinterpreting the law. However, the ISPs were paying the Rural Telecommunication Development Fee and royalties from the fees collected from customers for providing internet service.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">There has been a dispute between the government and the Internet Service Providers (ISPs) whether to consider the maintenance service provided by the ISPs as a telecommunication service or not and whether to pay a certain percentage of the fees collected by the ISPs to the Rural Telecommunication Development Fee and to the government as royalty.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government has been considering maintenance as a telecommunication service and has been asking the ISPs to pay two-tier tax. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Internet Service Providers Association of Nepal (ISPAN) claims that the ISPs have been regularly paying royalties and rural telecommunication development fees to be paid from income from telecommunication services in accordance to the Telecommunication Act, Telecommunication Regulations and Rural Telecommunication Development Fund Regulations. However, the umbrella body of ISPs maintained that there is no legal provision to pay royalties and rural telecommunication development fund fee from income generated from non-telecommunication services such as maintenance services.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The dispute led to the disruption in internet services across the country on May 2 after India&rsquo;s Airtel, which provides bandwidth to Nepali ISPs, stopped providing the bandwidth for six hours citing non-payment of dues by the Nepali ISPs. The ISPs were unable to clear their outstanding dues to Airtel because the Nepal Telecommunications Authority has not recommended foreign exchange facilities to them since a year arguing that they must first pay the Rural Telecommunication Development Fee and royalty. Airtel provided the bandwidth after assurance from the government and the ISPs that they will pay the dues.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Ministry of Communications and Information Technology had formed a study team led by Joint Secretary Gaurav Giri to probe into the tax evasion from the ISPs. The study team pointed out that nine ISPs were liable to pay Rs 3.64 billion in royalty revenue and Rural Telecommunications Development Fees to the government. Under the headings, the Worldlink Communications alone has to pay Rs 1.96 billion.&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the other hand, the Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, had published a list of 48 internet service providers (ISPs) in August for not paying the royalty amount and taxes under the heading of the Rural Telecommunication Development Fee. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the report published by the NTA in last December, 77 internet service providers had deposited more than Rs 1.67 billion. There are currently 128 internet service provider companies and 23 network service provider companies registered in Nepal.</span></span></p>

<p>&nbsp;</p>
',
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	(int) 4 => array(
		'Article' => array(
			'id' => '20964',
			'article_category_id' => '1',
			'title' => 'Inflation Moderates to 4.61 Percent in mid-April',
			'sub_title' => '',
			'summary' => 'Kathmandu: The year-on-year (y-o-y) consumer price inflation moderated to 4.61 percent in mid-April 2024 compared to 7.76 percent a year ago, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The year-on-year (y-o-y) consumer price inflation moderated to 4.61 percent in mid-April 2024 compared to 7.76 percent a year ago, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report published by the central bank on Sunday reveals that the food and beverage category inflation stood at 5.21 percent whereas non-food and service category inflation stood at 4.14 percent in the review month.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of spices sub-category increased 22.64 percent, vegetable 16.99 percent, pulses and legumes 10.94 percent, cereal grains and their products 7.59 percent and non-alcholic drinks 6.06 percent in the review month. The y-o-y price index of ghee and oil subcategory decreased 10.10 percent in the review month, the report added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the non-food and services category, the y-o-y price index of miscellaneous goods and services sub-category increased 12.81 percent, recreation and culture 12.61 percent and education 7.31 percent in the review month. Meanwhile, the y-o-y price index of transportation sub-category decreased 0.33 percent in the review month, the NRB report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain regions stood at 4.06 percent, 4.58 percent, 5.33 percent and 4.32 percent respectively in the review month. Such inflation in these regions were 8.57 percent, 7.68 percent, 7.01 percent and 7.47 percent respectively a year ago.</span></span></p>
',
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			'created' => '2024-05-13',
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	(int) 5 => array(
		'Article' => array(
			'id' => '20962',
			'article_category_id' => '1',
			'title' => 'Current Account and BoP in Surplus, Foreign Exchange Reserves Increase in Current FY',
			'sub_title' => '',
			'summary' => 'Kathmandu: The current account of Nepal remained at a surplus of Rs 179.48 billion in the first nine months of the current fiscal year against a deficit of Rs 60.43 billion in the same period of the previous year, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The current account of Nepal remained at a surplus of Rs 179.48 billion in the first nine months of the current fiscal year against a deficit of Rs 60.43 billion in the same period of the previous year, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report of Nepal unveiled by the central bank on Sunday states that the current account, in terms of the US dollar, registered a surplus of 1.35 billion in the review period against a deficit of 468.3 million in the same period last year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, capital transfer decreased 19.2 percent to Rs 4.78 billion and net foreign direct investment (FDI) remained a positive of Rs 6.48 billion, the NRB report added. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the same period of the previous year, capital transfer amounted to Rs 5.91 billion and net FDI amounted to Rs 2.62 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the Balance of Payments (BOP) remained at a surplus of Rs 365.16 billion in the review period against a surplus of Rs 174.28 billion in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US Dollar terms, the BOP remained at a surplus of 2.75 billion in the review period against a surplus of 1.32 billion in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank&rsquo;s report further mentions that the gross foreign exchange reserves increased 24.2 percent to Rs 1911.86 billion in mid-April 2024 from Rs 1539.36 billion in mid-July 2023. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US dollar terms, the gross foreign exchange reserves increased 22.7 percent to 14.36 billion in mid-April 2024 from 11.71 billion in mid-July 2023.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Of the total foreign exchange reserves, reserves held by NRB increased 25.4 percent to Rs 1688.21 billion in mid-April 2024 from Rs 1345.78 billion in mid-July 2023. Likewise, the reserves held by banks and financial institutions (except NRB) increased 15.5 percent to Rs 223.65 billion in mid-April 2024 from Rs 193.59 billion in mid-July 2023, the report added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The share of Indian currency in total reserves stood at 21.6 percent in mid-April 2024.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on the imports of nine months of 2023/24, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 15 months, and merchandise and services imports of 12.5 months. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The ratio of reserves-to-GDP, reserves-to-imports and reserves-to-M2 stood at 33.5 percent, 104 percent and 28.9 percent respectively in mid-April 2024. Such ratios were 28.8 percent, 83.0 percent and 25.0 percent respectively in mid-July 2023.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '20956',
			'article_category_id' => '1',
			'title' => 'Relocation of Valley’s Industries Essential for Better Urbanization: Minister Bhandari   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has opined that relocation of Kathmandu valley’s industries would contribute to better urbanization.     Minister Bhandari made such a remark while receiving a memo from the Grill and Steel Entrepreneurs' Federation Nepal at the ministry on Sunday.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has opined that relocation of Kathmandu valley&rsquo;s industries would contribute to better urbanization.&nbsp;&nbsp;&nbsp;&nbsp; Minister Bhandari made such a remark while receiving a memo from the Grill and Steel Entrepreneurs&#39; Federation Nepal at the ministry on Sunday. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;In the developed countries, industries are located away from urban areas; we can also plan separate safe places for industries,&quot; he reiterated.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Minister Bhandari suggested the Federation that it adopted new technology as per the need of the time.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to him, we cannot compete in the global market with continuous reliance on import of raw materials. The foreign items must be replaced, he suggested.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A delegation led by the Federation&rsquo;s Chairman Thulo Babu Shrestha met the minister and demanded him to take initiatives to increase custom tariff on import of the products which Nepal itself produces in the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The minister assured the delegation that he would coordinate with the Finance Ministry to address the genuine demands. He also pledged ministry&rsquo;s support for adoption of new technology in the grill industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Federation put forth seven demands, including creation of atmosphere conducive for business. -- RSS&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '20955',
			'article_category_id' => '1',
			'title' => 'Spring Ascent: Kami Rita Climbs Mount Everest for a Record 29th Time',
			'sub_title' => '',
			'summary' => 'Kathmandu: Kami Rita Sherpa has broken his own record for the most ascents of the world's highest peak, Sagarmatha (Mt Everest), reaching the summit for the 29th time on Sunday.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: Kami Rita Sherpa has broken his own record for the most ascents of the world&#39;s highest peak, Sagarmatha (Mt Everest), reaching the summit for the 29th time on Sunday.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Sherpa surpassed his previous achievement during the spring expedition of the 8,848.86-meter-high mountain. Originally from Thame village in the Khumbu Pasang Lhamu rural municipality of Solukhumbu district, the 54-year-old record-holder has once again etched his name in history.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Rakesh Gurung, director of the Adventure Tourism and Mountaineering Section at the Department of Tourism, confirmed Kami Rita Sherpa&#39;s successful ascent early Sunday morning.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Having first conquered Everest on May 13, 1994, Kami Rita also holds the record for the most ascents of peaks above 8,000 meters.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He stands as the sole mountaineer to achieve the highest number of Everest ascents since Tenzing Norgay and Edmund Hillary&#39;s historic climb on May 29, 1953.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Following closely in the record-setting spree is Dawa Sherpa of Solukhumbu district, who scaled Everest for the 27th time last spring.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A team of ten Sherpa members, responsible for fixing ropes, ascended Everest on Friday night, paving the way for a total of 414 adventurers who have secured permits to climb Everest this spring season. -- RSS</span></span></p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '20954',
			'article_category_id' => '1',
			'title' => 'NEPSE Closes at 1974.50 with Gain of 8.26 Points',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange(NEPSE) Index witnessed a gain of 8.26 points or 0.42%, closing at 1974.50 on the first trading day of the week on Sunday.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 12: The Nepal Stock Exchange(NEPSE) Index witnessed a gain of 8.26 points or 0.42%, closing at 1974.50 on the first trading day of the week on Sunday. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&rsquo;s trading session, 311 scrips were traded on the NEPSE through 49,764 transactions, with 7,857,031 total shares changing their hands resulting in a total turnover of Rs 3.15 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shangrila Development Bank Limited(SADBL) led the turnover amount with the total transaction of Rs 10 crores. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shrijanshil Laghubitta Bittiya Sanstha(SHLB) recorded the highest gain of 10%, hitting the positive circuit for the day and closing ta a market price of Rs 1372 per share. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, Manushi Laghubitta Bittiya Sanstha(MLBS) incurred the maximum loss of 5.44%, closing at a market price of Rs 1200 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 indices closed in the negative territory except Finance Index, Hotels and Tourism Index and Microfinance Index. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Non-Life Insurance saw the highest gain of 2.64%, while Microfinance Index experienced the most loss at 1.35%.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '20953',
			'article_category_id' => '1',
			'title' => 'Government's Policies and Programmes Hang in the Balance as NC Continues Parliament Obstruction',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Nepali Congress has been obstructing the Parliament demanding a parliamentary inquiry against Deputy Prime Minister and Home Minister Rabi Lamichhane for his alleged involvement in co-operative fraud.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Kathmandu: The Nepali Congress has been obstructing the Parliament demanding a parliamentary inquiry against Deputy Prime Minister and Home Minister Rabi Lamichhane for his alleged involvement in co-operative fraud. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">The government has announced to present its policies and programmes for the next fiscal year (FY) on May 19. The Parliament Secretariat has already announced that President Ram Chandra Paudel will present the government&rsquo;s policies and programmes at the joint meeting of the House of Representatives and the National Assembly to be held at 3 pm on May 19.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">According to the rules of the Parliament, the president on behalf of the government must present the government&rsquo;s policies and programmes in the Parliament before announcing the budget. The policies and programmes shed light on the overall policies and priorities of the government for the coming year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">However, the Nepali Congress, which had also blocked the winter session of Parliament demanding an investigation against Deputy Prime Minister and Home Minister Lamichhane, again blocked the budget session of the Parliament which was called for May 10. The Nepali Congress has stuck to its stance of not allowing the House to proceed until a parliamentary committee is formed to investigate Lamichhane. However, the government is not in favor of forming such a committee so far.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">The Nepali Congress has not yet come up with a clear view on whether or not to allow the President to present the policies and programmes. The Congress leaders have said that a concrete decision on this matter can be taken by the meeting of the Congress parliamentary party called for Monday and that the policies and programmes cannot be presented in the current situation. The official meeting of NC held at the residence of NC President Sher Bahadur Deuba on Saturday also concluded that the government did not want to resume the parliament session.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">After the meeting, NC General Secretary Gagan Thapa told media persons, &quot;Not only the policies and programmes, but none of the government&#39;s activities can proceed until the parliamentary committee is formed. The conclusion of today&#39;s meeting is that we will not back down until a parliamentary inquiry committee is formed.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Another Congress leader and party spokesperson Dr Prakash Sharan Mahat said that top leaders including the party president are discussing with the prime minister about removing the obstruction of the House. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">After Prime Minister Pushpa Kamal Dahal formed a new government with support from the CPN UML and Rashtriya Swatantra Party (RSP) by severing its ties with the Nepali Congress, the right-wing party has strongly opposed the current government. The Nepali Congress has focused its criticism on Deputy Prime Minister and Home Minister Lamichhane than Prime Minister Dahal as the home minister is allegedly involved in co-operative scam.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Government reports have revealed that Lamichhane, who is not a member of Suryadarshan Cooperative, took Rs 10 million from the cooperative. Similarly, police investigation shows that Lamichhane also received money from Supreme Savings and Loan Cooperative Society in Butwal. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Lamichhane has admitted that he is not a member of any of the two cooperatives. A person who is not a member of a cooperative cannot take loans. However, documents show that Lamichhane took loans controversially. Although documents show that the money has been paid back, the cooperatives claim the money has not been deposited yet. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Lamichhane maintained his innocence saying that someone else opened a fake account in his name and received the money. He also claimed that the police investigation into the scam has revealed that the money was withdrawn without filing the loan request form and those who took away the loan did not provide details of the three generations required to obtain loan. Lamichhane added that the documents also do not have his signature or finger prints.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">He also reiterated in a statement issued on Friday that he is not a co-operative fraudster. Instead, he has announced that if he is found guilty of taking the loan, he is ready to give up politics.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">In response to Lamichhane&#39;s statement, Congress General Secretary Thapa said that he had strong evidence to confirm the allegations against Lamichhane. Thapa added that if he could not prove Lamichhane guilty, he would retire from politics.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">GB Rai had partnered with Lamichhane to operate Galaxy Four K Television under Gorkha Network Pvt Ltd, of which Lamichhane was the managing director. Now the television has been shut down. According to the government report, the operators of the television including Lamichhane had taken a loan of Rs 300 million from Pokhara&#39;s Suryadarshan Cooperative.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Meanwhile, leaders of the ruling party say that the NC turned against Lamichhane after he refused to support NC&rsquo;s candidate for the post of prime minister.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">UML President and former Prime Minister KP Sharma Oli said at an event held in Kathmandu on Saturday that Lamichhane was labeled as a corrupt member of the cooperative because he rejected the offer made by the Nepali Congress.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Although the ruling parties have agreed to investigate the cooperative sector as a whole, they have not agreed to form a parliamentary committee to investigate Lamichhane. Oli claims that the Nepali Congress will demand the resignation of the Home Minister Lamichhane as soon as such an inquiry committee is formed. If Lamichhane resigns as the Minister of Home Affairs, the ruling coalition is likely to collapse and therefor the ruling parties are hesitant to form a parliamentary probe committee against Lamichhane.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Chief Whip of CPN (Maoist Centre) Hitraj Pandey said that they are ready to investigate the entire cooperative sector including the allegations against Lamichhane. The Congress, on the other hand, has not announced a clear opinion on the matter of having a parliamentary inquiry into the cooperative sector as a whole. As the Parliament remains blocked, the process of making various laws has been interrupted.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Former Speaker Damannath Dhungana says that parties should not hold Parliament hostage. Parliament is the highest platform of the people. Legislation should be focused on the issue of people&#39;s livelihood. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">CPN (UML) chief whip Mahesh Bertaula expressed the hope that since discussions are being held at the top leadership level, the parliament will not be held hostage for long and a solution will be found.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '20951',
			'article_category_id' => '1',
			'title' => 'Informal Talks on to Clear Parliament Obstruction   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Leaders of the major political parties have continued internal and informal dialogues to clear the obstruction of the federal parliament meetings.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Leaders of the major political parties have continued internal and informal dialogues to clear the obstruction of the federal parliament meetings.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the very first day of budget session of federal parliaments on Friday, the main opposition party Nepali Congress stalled the parliament, posing a demand of parliamentary probe commission on embezzlement in cooperatives. It resulted in both parliaments&#39; failure to proceed with scheduled business.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In this connection, Prime Minister Pushpa Kamal Dahal is learnt to have talked to leaders including CPN UML on how consensus could be built for smooth running of the parliament.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, the Nepali Congress held a meeting of the office bearers on Saturday. Accusing the Deputy Prime Minister and Home Minister Rabi Lamichhane of his involvement in embezzlement of cooperatives fund, the NC has insisted on formation of a parliamentary probe committee on it.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Talking to the Rastriya Samachar Samiti (RSS), Chief Whip of CPN (Maoist Centre) Hitraj Pande informed that no agreement was made so far on clearing the parliamentary obstruction, but the government was devoted to find out solution at any cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Chief Whip of CPN UML Mahesh Bartaula also hoped the talk among the top leaders would pave a way for removal of house obstruction.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Both the meetings of the Upper and Lower Houses are slated for May 14. -- RSS&nbsp; </span></span></span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '20950',
			'article_category_id' => '1',
			'title' => 'President Approves Resignation of Economic Expert Advisor Nepal',
			'sub_title' => '',
			'summary' => 'Kathmandu: President Ram Chandra Paudel has approved the resignation of economic expert advisor Dr Chiranjeevi Nepal.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: President Ram Chandra Paudel has approved the resignation of economic expert advisor Dr Chiranjeevi Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Sunday, spokesperson for the Office of the President, Shailaja Regmi Bhattarai mentioned that the president has accepted the resignation tendered by his economic expert advisor Nepal, who is a former governor of Nepal Rastra Bank.&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">President Paudel thanked Nepal for his service during his tenure.&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Former Governor Nepal courted controversy recently over his remarks on the government&rsquo;s recent decision to include the new map of Nepal in the hundred-rupee notes of Nepali currency.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;&nbsp; </span></span></p>
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		'Article' => array(
			'id' => '20952',
			'article_category_id' => '1',
			'title' => 'Government is Committed to Facilitate and Secure Investment: PM Dahal   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Prime Minister Pushpa Kamal Dahal has said that the government is committed to give an impetus to the country's economic transformation by keeping the morale of investors, including the industrialists and business community, high.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Prime Minister Pushpa Kamal Dahal has said that the government is committed to give an impetus to the country&#39;s economic transformation by keeping the morale of investors, including the industrialists and business community, high.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Inaugurating the Hyundai Motor Assembling Plant of Laxmi Motor Corporation in Nawalparasi on Friday, PM Dahal stated that the country would be taken ahead on the journey of prosperity through economic development.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He said the economy would be strengthened by taking the private sector into confidence, asserting that the government is committed to facilitate investment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;The country&#39;s economy cannot be made robust without the investment of the private sector and the collaboration between the state and the private sector. The productivity cannot be increased and employment opportunities also cannot be created without this,&quot; PM Dahal said, adding that the government is always in support of creating a climate conducive to investment, promoting the private sector and security and facilitation in the investment areas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Expressing the belief that the domestic and foreign investors would be attracted more towards the industry-friendly environment in Nepal with the operation of this new assembling plant, he said it would also help in import be substitution and creating jobs for hundreds of skilled and semi-skilled labourers along with the country&rsquo;s industrialization.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The prime minister said that the establishment of the plant would facilitate consumers to buy vehicles at a relatively less price and it would contribute positively to the consumption of domestic resource and electricity. He added that the establishment of the vehicle assembling plant is a testimony of partnership in the local development and on the GDP.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;Our fiscal and monetary policies should be promotional, rather than restrictive. These policies and laws should contribute to the increase in production and employment generation,&quot; he said.&nbsp; -- RSS </span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '20947',
			'article_category_id' => '1',
			'title' => 'Icefall Doctors Scale Mt Everest, Opening the way for Other Aspiring Climbers  ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Ten Sherpa climbers known as ‘icefall doctors’ for their role in fixing ropes for the expedition teams reached atop the world's highest peak Mt Everest late Friday, opening the route for other climbers.    ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Kathmandu: Ten Sherpa climbers known as &lsquo;icefall doctors&rsquo; for their role in fixing ropes for the expedition teams reached atop the world&#39;s highest peak Mt Everest late Friday, opening the route for other climbers.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">With the fixing of the ropes, the expedition to Mt Everest has formally opened this year, Khimlal Gautam, chief of the Field Office of the Department of Tourism, told the state-owned RSS.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">According to Gautam, the rope fixing team reached the top of Mt Everest at 8:15 pm on Friday.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&quot;Now, the route to Mt Everest is open for this season. Other climbers will scale Mt Everest following the successful summit of the peak by the Sherpa members,&quot; Gautam said.&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">According to RSS, the members of the rope fixing team include Dendi Sherpa, Tenzing Gyalzen Sherpa, Pemba Tasi Sherpa, Lakpa Sherpa, Dawa Rinze Sherpa, Dawa Sherpa, Pam Dorjee Sherpa, Suk Bahadur Tamang, Namgyal Dorjee Tamang and Lakpa Rinze Sherpa.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Meanwhile, AFP also confirmed that the icefall doctors climbed Mt Everest citing Chhang Dawa Sherpa of Seven Summit Treks, which led the team.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&quot;A good weather window has been predicted until May 14, it is possible we will see over a hundred summits by then,&quot; AFP quoted Gautam as saying.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">The Government of Nepal has issued 414 permits to mountaineers for this year&#39;s spring climbing season, which runs from April to early June.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Most Everest hopefuls are each escorted by a Nepali guide, meaning more than 800 climbers will tread the same path to the top of the 8,850-metre (29,035-foot) peak in the coming weeks, the French news agency further reported, adding, &ldquo;This year, China reopened the Tibetan route to foreigners for the first time since it closed in 2020 because of the coronavirus pandemic.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Nepal is home to eight of the world&#39;s 10 highest peaks and welcomes hundreds of adventurers each spring, when temperatures are warm and winds are typically calm. Last year, over 600 climbers made it to the peak of the highest mountain in the world. It also became the deadliest season on the mountain with 18 deaths, added AFP.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&ldquo;A boom in climbers has made mountaineering a lucrative business since Sir Edmund Hillary and Sherpa Tenzing Norgay made the first ascent in 1953.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Heavy Rainfall likely in Koshi, Bagmati, Gandaki and Lumbini Provinces  ',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Department of Hydrology and Meteorology has predicted heavy rainfall in some places of Koshi, Bagmati, Gandaki and Lumbini provinces on Sunday.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: The Department of Hydrology and Meteorology has predicted heavy rainfall in some places of Koshi, Bagmati, Gandaki and Lumbini provinces on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the department, the weather of the country is partly to generally cloudy in Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces, while it is mostly clear in the rest of the country. Some places of Koshi, Madhes, Bagmati, Gandaki and Lumbini are experiencing light to moderate rain with thunder, storm and lightning as of Sunday morning.&nbsp;&nbsp;&nbsp;&nbsp; This is due to the effect of the westerly and local winds as well as the low pressure system formed around Bihar in India, the Department of Hydrology and Meteorology added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The weather will remain partly to generally cloudy across the country in the afternoon, with light to moderate rain accompanied by thunder and lightning in some parts of the country. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lateer tonight, the weather will remain partly to general cloudy across the country. There is a possibility of light to moderate rain with thunder and lightning at some places of Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces as well as at one or two places of the remaining provinces.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In the next 24 hours, there is a possibility of light to moderate rain with lightning in some parts of the country, according to the weather bulletin issued by the department on Sunday morning. -- RSS</span></span></span></p>
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			'id' => '20966',
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			'title' => 'Nepal’s Trade Deficit Tops One Trillion',
			'sub_title' => '',
			'summary' => 'Kathmandu: Nepal’s trade deficit in the first nine months of the current fiscal year stands at Rs 1053.42 billion.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: Nepal&rsquo;s trade deficit in the first nine months of the current fiscal year stands at Rs 1053.42 billion.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the latest report of Nepal Rastra Bank, the total trade deficit decreased by 2.8 percent to Rs 1053.42 billion in the review period against a decline of 17.1 percent in the corresponding period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The export-import ratio remained at 9.8 percent in the review period same as in the corresponding period of the previous year, states the Current Macroeconomic and Financial Situation Report of Nepal published by the central bank on Sunday.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">During the review period, merchandise exports decreased 3.7 percent to Rs 113.95 billion compared to a decrease of 26.3 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, exports to India and other countries decreased 6.2 percent and 2.0 percent respectively, whereas exports to China increased 232 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the NRB report, exports of zinc sheet, particle board, juice, polyester yarn and thread, and readymade garments among others increased whereas exports of palm oil, soybean oil, woolen carpet, tea, jute goods among others decreased.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, merchandise imports decreased 2.8 percent to Rs 1167.37 billion compared to a decrease of 18.1 percent a year ago. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, imports from India and other countries decreased 3.2 percent and 22.6 percent respectively while imports from China increased 33.4 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Imports of transport equipment, vehicle and spare parts, readymade garments, aircraft spare parts, electrical equipment, textiles among others increased whereas imports of gold, crude soybean oil, crude palm oil, petroleum products, rice/paddy among others decreased, the report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on customs points, exports from Bhairahawa, dry port, Jaleswor, Kanchanpur, Krishnanagar, Mechi, Rasuwa and Tatopani customs increased whereas exports from all the other major customs points decreased in the review period. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the import side, imports from dry port, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period. </span></span></p>
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			'title' => 'Remittance Inflow Stands at Rs 1082 Billion in Nine Months',
			'sub_title' => '',
			'summary' => 'Kathmandu: The inflow of remittance in Nepal in the first nine months of the current fiscal year stands at Rs 1082.62 billion, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The inflow of remittance in Nepal in the first nine months of the current fiscal year stands at Rs 1082.62 billion, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report unveiled by the central bank on Sunday reveals that the inflow of remittance to Nepal increased by 19.8 percent in the review period compared to an increase of 24.2 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US Dollar terms, inflow of remittance increased 17.7 percent to USD 8.15 billion in the review period compared to an increase of 13.9 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stood at 329,422 while those taking approval for renew entry was 212,721.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the corresponding period of the previous year, workers seeking labour permit for the first time was 387,839 and those seeking to renew their work permits stood at 217,959. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the net transfer increased 17.8 percent to Rs 1174.50 billion in the review period according to the NRB report. Such a transfer had increased 22.8 percent in the same period of the previous year.</span></span></p>
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			'id' => '20969',
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			'title' => 'Finance Minister Assures for Prudent Tax Policy',
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			'summary' => 'Finance Minister Barshaman Pun said that there won't be arbitrary changes to the tax rate in the upcoming fiscal year's budget.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">May 13: Finance Minister Barshaman Pun said that there won&#39;t be arbitrary changes to the tax rate in the upcoming fiscal year&#39;s budget.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">&nbsp;Pun stated that any adjustments to the tax rate will be made with careful consideration of national interests, rather than catering to interests of specific business houses. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Minister Pun assured that any changes would be accompanied by a clear rationale and would not disrupt long-term private sector investments. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Additionally, Pun highlighted the government&#39;s commitment to promoting open and transparent business policies and encouraging private sector participation in Nepal&#39;s development journey. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Minister Pun also addressed concerns regarding the slowdown in the construction sector, promising government efforts to address underlying issues causing the slowdown.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Moreover, Pun acknowledged the government&#39;s responsibility in addressing past financial liabilities, indicating readiness to manage liabilities amounting to around Rs 600 billion from previous years.</span></span></span></p>
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			'id' => '20963',
			'article_category_id' => '1',
			'title' => 'SC Scraps Writ Petitions Filed by Worldlink, Clears Way for ISPs to Pay Royalty to Government',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Supreme Court has scrapped all eight writ petitions filed by Worldlink Communications, an internet service provider (ISP), against the government’s decision to impose Rural Telecommunications Development Fee and royalty charge on maintenance fee collected by the ISPs.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The Supreme Court has scrapped all eight writ petitions filed by Worldlink Communications, an internet service provider (ISP), against the government&rsquo;s decision to impose Rural Telecommunications Development Fee and royalty charge on maintenance fee collected by the ISPs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A division bench of SC Justices Hari Prasad Phuyal and Dr Nahakul Subedi rejected Worldlink&#39;s claim by scrapping the petitions on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">With the SC&#39;s move, the government now can collect royalty and Rural Telecommunications Development Fees (RTDF) from Worldlink Communications which the ISP had refused to pay.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The SC verdict is likely to add billions of rupees to the state coffers from other ISPs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;As the SC has scrapped the writ petitions, the ISPs must now pay the dues,&rdquo; Govinda Prasad Ghimire, information officer at the Supreme Court, told New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government was unable to collect royalty revenue on maintenance charge from the internet service providers (ISPs) since the fiscal year 2072/073 BS, according to the Office of the Auditor General. The ISPs including Worldlink Communications were found to have evaded the tax by misinterpreting the law. However, the ISPs were paying the Rural Telecommunication Development Fee and royalties from the fees collected from customers for providing internet service.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">There has been a dispute between the government and the Internet Service Providers (ISPs) whether to consider the maintenance service provided by the ISPs as a telecommunication service or not and whether to pay a certain percentage of the fees collected by the ISPs to the Rural Telecommunication Development Fee and to the government as royalty.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government has been considering maintenance as a telecommunication service and has been asking the ISPs to pay two-tier tax. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Internet Service Providers Association of Nepal (ISPAN) claims that the ISPs have been regularly paying royalties and rural telecommunication development fees to be paid from income from telecommunication services in accordance to the Telecommunication Act, Telecommunication Regulations and Rural Telecommunication Development Fund Regulations. However, the umbrella body of ISPs maintained that there is no legal provision to pay royalties and rural telecommunication development fund fee from income generated from non-telecommunication services such as maintenance services.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The dispute led to the disruption in internet services across the country on May 2 after India&rsquo;s Airtel, which provides bandwidth to Nepali ISPs, stopped providing the bandwidth for six hours citing non-payment of dues by the Nepali ISPs. The ISPs were unable to clear their outstanding dues to Airtel because the Nepal Telecommunications Authority has not recommended foreign exchange facilities to them since a year arguing that they must first pay the Rural Telecommunication Development Fee and royalty. Airtel provided the bandwidth after assurance from the government and the ISPs that they will pay the dues.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Ministry of Communications and Information Technology had formed a study team led by Joint Secretary Gaurav Giri to probe into the tax evasion from the ISPs. The study team pointed out that nine ISPs were liable to pay Rs 3.64 billion in royalty revenue and Rural Telecommunications Development Fees to the government. Under the headings, the Worldlink Communications alone has to pay Rs 1.96 billion.&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the other hand, the Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, had published a list of 48 internet service providers (ISPs) in August for not paying the royalty amount and taxes under the heading of the Rural Telecommunication Development Fee. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the report published by the NTA in last December, 77 internet service providers had deposited more than Rs 1.67 billion. There are currently 128 internet service provider companies and 23 network service provider companies registered in Nepal.</span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Inflation Moderates to 4.61 Percent in mid-April',
			'sub_title' => '',
			'summary' => 'Kathmandu: The year-on-year (y-o-y) consumer price inflation moderated to 4.61 percent in mid-April 2024 compared to 7.76 percent a year ago, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The year-on-year (y-o-y) consumer price inflation moderated to 4.61 percent in mid-April 2024 compared to 7.76 percent a year ago, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report published by the central bank on Sunday reveals that the food and beverage category inflation stood at 5.21 percent whereas non-food and service category inflation stood at 4.14 percent in the review month.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of spices sub-category increased 22.64 percent, vegetable 16.99 percent, pulses and legumes 10.94 percent, cereal grains and their products 7.59 percent and non-alcholic drinks 6.06 percent in the review month. The y-o-y price index of ghee and oil subcategory decreased 10.10 percent in the review month, the report added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the non-food and services category, the y-o-y price index of miscellaneous goods and services sub-category increased 12.81 percent, recreation and culture 12.61 percent and education 7.31 percent in the review month. Meanwhile, the y-o-y price index of transportation sub-category decreased 0.33 percent in the review month, the NRB report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain regions stood at 4.06 percent, 4.58 percent, 5.33 percent and 4.32 percent respectively in the review month. Such inflation in these regions were 8.57 percent, 7.68 percent, 7.01 percent and 7.47 percent respectively a year ago.</span></span></p>
',
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			'sortorder' => '20690',
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	(int) 5 => array(
		'Article' => array(
			'id' => '20962',
			'article_category_id' => '1',
			'title' => 'Current Account and BoP in Surplus, Foreign Exchange Reserves Increase in Current FY',
			'sub_title' => '',
			'summary' => 'Kathmandu: The current account of Nepal remained at a surplus of Rs 179.48 billion in the first nine months of the current fiscal year against a deficit of Rs 60.43 billion in the same period of the previous year, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The current account of Nepal remained at a surplus of Rs 179.48 billion in the first nine months of the current fiscal year against a deficit of Rs 60.43 billion in the same period of the previous year, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report of Nepal unveiled by the central bank on Sunday states that the current account, in terms of the US dollar, registered a surplus of 1.35 billion in the review period against a deficit of 468.3 million in the same period last year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, capital transfer decreased 19.2 percent to Rs 4.78 billion and net foreign direct investment (FDI) remained a positive of Rs 6.48 billion, the NRB report added. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the same period of the previous year, capital transfer amounted to Rs 5.91 billion and net FDI amounted to Rs 2.62 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the Balance of Payments (BOP) remained at a surplus of Rs 365.16 billion in the review period against a surplus of Rs 174.28 billion in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US Dollar terms, the BOP remained at a surplus of 2.75 billion in the review period against a surplus of 1.32 billion in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank&rsquo;s report further mentions that the gross foreign exchange reserves increased 24.2 percent to Rs 1911.86 billion in mid-April 2024 from Rs 1539.36 billion in mid-July 2023. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US dollar terms, the gross foreign exchange reserves increased 22.7 percent to 14.36 billion in mid-April 2024 from 11.71 billion in mid-July 2023.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Of the total foreign exchange reserves, reserves held by NRB increased 25.4 percent to Rs 1688.21 billion in mid-April 2024 from Rs 1345.78 billion in mid-July 2023. Likewise, the reserves held by banks and financial institutions (except NRB) increased 15.5 percent to Rs 223.65 billion in mid-April 2024 from Rs 193.59 billion in mid-July 2023, the report added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The share of Indian currency in total reserves stood at 21.6 percent in mid-April 2024.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on the imports of nine months of 2023/24, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 15 months, and merchandise and services imports of 12.5 months. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The ratio of reserves-to-GDP, reserves-to-imports and reserves-to-M2 stood at 33.5 percent, 104 percent and 28.9 percent respectively in mid-April 2024. Such ratios were 28.8 percent, 83.0 percent and 25.0 percent respectively in mid-July 2023.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '20956',
			'article_category_id' => '1',
			'title' => 'Relocation of Valley’s Industries Essential for Better Urbanization: Minister Bhandari   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has opined that relocation of Kathmandu valley’s industries would contribute to better urbanization.     Minister Bhandari made such a remark while receiving a memo from the Grill and Steel Entrepreneurs' Federation Nepal at the ministry on Sunday.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has opined that relocation of Kathmandu valley&rsquo;s industries would contribute to better urbanization.&nbsp;&nbsp;&nbsp;&nbsp; Minister Bhandari made such a remark while receiving a memo from the Grill and Steel Entrepreneurs&#39; Federation Nepal at the ministry on Sunday. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;In the developed countries, industries are located away from urban areas; we can also plan separate safe places for industries,&quot; he reiterated.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Minister Bhandari suggested the Federation that it adopted new technology as per the need of the time.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to him, we cannot compete in the global market with continuous reliance on import of raw materials. The foreign items must be replaced, he suggested.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A delegation led by the Federation&rsquo;s Chairman Thulo Babu Shrestha met the minister and demanded him to take initiatives to increase custom tariff on import of the products which Nepal itself produces in the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The minister assured the delegation that he would coordinate with the Finance Ministry to address the genuine demands. He also pledged ministry&rsquo;s support for adoption of new technology in the grill industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Federation put forth seven demands, including creation of atmosphere conducive for business. -- RSS&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
',
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			'sortorder' => '20683',
			'image' => '20240512092159_20230816110747_1692150431.jpg',
			'article_date' => '2024-05-12 21:21:34',
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	(int) 7 => array(
		'Article' => array(
			'id' => '20955',
			'article_category_id' => '1',
			'title' => 'Spring Ascent: Kami Rita Climbs Mount Everest for a Record 29th Time',
			'sub_title' => '',
			'summary' => 'Kathmandu: Kami Rita Sherpa has broken his own record for the most ascents of the world's highest peak, Sagarmatha (Mt Everest), reaching the summit for the 29th time on Sunday.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: Kami Rita Sherpa has broken his own record for the most ascents of the world&#39;s highest peak, Sagarmatha (Mt Everest), reaching the summit for the 29th time on Sunday.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Sherpa surpassed his previous achievement during the spring expedition of the 8,848.86-meter-high mountain. Originally from Thame village in the Khumbu Pasang Lhamu rural municipality of Solukhumbu district, the 54-year-old record-holder has once again etched his name in history.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Rakesh Gurung, director of the Adventure Tourism and Mountaineering Section at the Department of Tourism, confirmed Kami Rita Sherpa&#39;s successful ascent early Sunday morning.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Having first conquered Everest on May 13, 1994, Kami Rita also holds the record for the most ascents of peaks above 8,000 meters.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He stands as the sole mountaineer to achieve the highest number of Everest ascents since Tenzing Norgay and Edmund Hillary&#39;s historic climb on May 29, 1953.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Following closely in the record-setting spree is Dawa Sherpa of Solukhumbu district, who scaled Everest for the 27th time last spring.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A team of ten Sherpa members, responsible for fixing ropes, ascended Everest on Friday night, paving the way for a total of 414 adventurers who have secured permits to climb Everest this spring season. -- RSS</span></span></p>
',
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			'created' => '2024-05-12',
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			'sortorder' => '20682',
			'image' => '20240512073522_20230523022113_20230518105218_FwTHtq6agAEVihB (1).jpg',
			'article_date' => '2024-05-12 19:34:39',
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	(int) 8 => array(
		'Article' => array(
			'id' => '20954',
			'article_category_id' => '1',
			'title' => 'NEPSE Closes at 1974.50 with Gain of 8.26 Points',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange(NEPSE) Index witnessed a gain of 8.26 points or 0.42%, closing at 1974.50 on the first trading day of the week on Sunday.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 12: The Nepal Stock Exchange(NEPSE) Index witnessed a gain of 8.26 points or 0.42%, closing at 1974.50 on the first trading day of the week on Sunday. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&rsquo;s trading session, 311 scrips were traded on the NEPSE through 49,764 transactions, with 7,857,031 total shares changing their hands resulting in a total turnover of Rs 3.15 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shangrila Development Bank Limited(SADBL) led the turnover amount with the total transaction of Rs 10 crores. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shrijanshil Laghubitta Bittiya Sanstha(SHLB) recorded the highest gain of 10%, hitting the positive circuit for the day and closing ta a market price of Rs 1372 per share. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, Manushi Laghubitta Bittiya Sanstha(MLBS) incurred the maximum loss of 5.44%, closing at a market price of Rs 1200 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 indices closed in the negative territory except Finance Index, Hotels and Tourism Index and Microfinance Index. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Non-Life Insurance saw the highest gain of 2.64%, while Microfinance Index experienced the most loss at 1.35%.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '20953',
			'article_category_id' => '1',
			'title' => 'Government's Policies and Programmes Hang in the Balance as NC Continues Parliament Obstruction',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Nepali Congress has been obstructing the Parliament demanding a parliamentary inquiry against Deputy Prime Minister and Home Minister Rabi Lamichhane for his alleged involvement in co-operative fraud.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Kathmandu: The Nepali Congress has been obstructing the Parliament demanding a parliamentary inquiry against Deputy Prime Minister and Home Minister Rabi Lamichhane for his alleged involvement in co-operative fraud. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">The government has announced to present its policies and programmes for the next fiscal year (FY) on May 19. The Parliament Secretariat has already announced that President Ram Chandra Paudel will present the government&rsquo;s policies and programmes at the joint meeting of the House of Representatives and the National Assembly to be held at 3 pm on May 19.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">According to the rules of the Parliament, the president on behalf of the government must present the government&rsquo;s policies and programmes in the Parliament before announcing the budget. The policies and programmes shed light on the overall policies and priorities of the government for the coming year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">However, the Nepali Congress, which had also blocked the winter session of Parliament demanding an investigation against Deputy Prime Minister and Home Minister Lamichhane, again blocked the budget session of the Parliament which was called for May 10. The Nepali Congress has stuck to its stance of not allowing the House to proceed until a parliamentary committee is formed to investigate Lamichhane. However, the government is not in favor of forming such a committee so far.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">The Nepali Congress has not yet come up with a clear view on whether or not to allow the President to present the policies and programmes. The Congress leaders have said that a concrete decision on this matter can be taken by the meeting of the Congress parliamentary party called for Monday and that the policies and programmes cannot be presented in the current situation. The official meeting of NC held at the residence of NC President Sher Bahadur Deuba on Saturday also concluded that the government did not want to resume the parliament session.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">After the meeting, NC General Secretary Gagan Thapa told media persons, &quot;Not only the policies and programmes, but none of the government&#39;s activities can proceed until the parliamentary committee is formed. The conclusion of today&#39;s meeting is that we will not back down until a parliamentary inquiry committee is formed.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Another Congress leader and party spokesperson Dr Prakash Sharan Mahat said that top leaders including the party president are discussing with the prime minister about removing the obstruction of the House. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">After Prime Minister Pushpa Kamal Dahal formed a new government with support from the CPN UML and Rashtriya Swatantra Party (RSP) by severing its ties with the Nepali Congress, the right-wing party has strongly opposed the current government. The Nepali Congress has focused its criticism on Deputy Prime Minister and Home Minister Lamichhane than Prime Minister Dahal as the home minister is allegedly involved in co-operative scam.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Government reports have revealed that Lamichhane, who is not a member of Suryadarshan Cooperative, took Rs 10 million from the cooperative. Similarly, police investigation shows that Lamichhane also received money from Supreme Savings and Loan Cooperative Society in Butwal. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Lamichhane has admitted that he is not a member of any of the two cooperatives. A person who is not a member of a cooperative cannot take loans. However, documents show that Lamichhane took loans controversially. Although documents show that the money has been paid back, the cooperatives claim the money has not been deposited yet. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Lamichhane maintained his innocence saying that someone else opened a fake account in his name and received the money. He also claimed that the police investigation into the scam has revealed that the money was withdrawn without filing the loan request form and those who took away the loan did not provide details of the three generations required to obtain loan. Lamichhane added that the documents also do not have his signature or finger prints.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">He also reiterated in a statement issued on Friday that he is not a co-operative fraudster. Instead, he has announced that if he is found guilty of taking the loan, he is ready to give up politics.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">In response to Lamichhane&#39;s statement, Congress General Secretary Thapa said that he had strong evidence to confirm the allegations against Lamichhane. Thapa added that if he could not prove Lamichhane guilty, he would retire from politics.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">GB Rai had partnered with Lamichhane to operate Galaxy Four K Television under Gorkha Network Pvt Ltd, of which Lamichhane was the managing director. Now the television has been shut down. According to the government report, the operators of the television including Lamichhane had taken a loan of Rs 300 million from Pokhara&#39;s Suryadarshan Cooperative.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Meanwhile, leaders of the ruling party say that the NC turned against Lamichhane after he refused to support NC&rsquo;s candidate for the post of prime minister.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">UML President and former Prime Minister KP Sharma Oli said at an event held in Kathmandu on Saturday that Lamichhane was labeled as a corrupt member of the cooperative because he rejected the offer made by the Nepali Congress.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Although the ruling parties have agreed to investigate the cooperative sector as a whole, they have not agreed to form a parliamentary committee to investigate Lamichhane. Oli claims that the Nepali Congress will demand the resignation of the Home Minister Lamichhane as soon as such an inquiry committee is formed. If Lamichhane resigns as the Minister of Home Affairs, the ruling coalition is likely to collapse and therefor the ruling parties are hesitant to form a parliamentary probe committee against Lamichhane.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Chief Whip of CPN (Maoist Centre) Hitraj Pandey said that they are ready to investigate the entire cooperative sector including the allegations against Lamichhane. The Congress, on the other hand, has not announced a clear opinion on the matter of having a parliamentary inquiry into the cooperative sector as a whole. As the Parliament remains blocked, the process of making various laws has been interrupted.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Former Speaker Damannath Dhungana says that parties should not hold Parliament hostage. Parliament is the highest platform of the people. Legislation should be focused on the issue of people&#39;s livelihood. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">CPN (UML) chief whip Mahesh Bertaula expressed the hope that since discussions are being held at the top leadership level, the parliament will not be held hostage for long and a solution will be found.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Informal Talks on to Clear Parliament Obstruction   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Leaders of the major political parties have continued internal and informal dialogues to clear the obstruction of the federal parliament meetings.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Leaders of the major political parties have continued internal and informal dialogues to clear the obstruction of the federal parliament meetings.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the very first day of budget session of federal parliaments on Friday, the main opposition party Nepali Congress stalled the parliament, posing a demand of parliamentary probe commission on embezzlement in cooperatives. It resulted in both parliaments&#39; failure to proceed with scheduled business.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In this connection, Prime Minister Pushpa Kamal Dahal is learnt to have talked to leaders including CPN UML on how consensus could be built for smooth running of the parliament.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, the Nepali Congress held a meeting of the office bearers on Saturday. Accusing the Deputy Prime Minister and Home Minister Rabi Lamichhane of his involvement in embezzlement of cooperatives fund, the NC has insisted on formation of a parliamentary probe committee on it.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Talking to the Rastriya Samachar Samiti (RSS), Chief Whip of CPN (Maoist Centre) Hitraj Pande informed that no agreement was made so far on clearing the parliamentary obstruction, but the government was devoted to find out solution at any cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Chief Whip of CPN UML Mahesh Bartaula also hoped the talk among the top leaders would pave a way for removal of house obstruction.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Both the meetings of the Upper and Lower Houses are slated for May 14. -- RSS&nbsp; </span></span></span></p>
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			'id' => '20950',
			'article_category_id' => '1',
			'title' => 'President Approves Resignation of Economic Expert Advisor Nepal',
			'sub_title' => '',
			'summary' => 'Kathmandu: President Ram Chandra Paudel has approved the resignation of economic expert advisor Dr Chiranjeevi Nepal.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: President Ram Chandra Paudel has approved the resignation of economic expert advisor Dr Chiranjeevi Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Sunday, spokesperson for the Office of the President, Shailaja Regmi Bhattarai mentioned that the president has accepted the resignation tendered by his economic expert advisor Nepal, who is a former governor of Nepal Rastra Bank.&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">President Paudel thanked Nepal for his service during his tenure.&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Former Governor Nepal courted controversy recently over his remarks on the government&rsquo;s recent decision to include the new map of Nepal in the hundred-rupee notes of Nepali currency.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;&nbsp; </span></span></p>
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			'article_category_id' => '1',
			'title' => 'Government is Committed to Facilitate and Secure Investment: PM Dahal   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Prime Minister Pushpa Kamal Dahal has said that the government is committed to give an impetus to the country's economic transformation by keeping the morale of investors, including the industrialists and business community, high.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Prime Minister Pushpa Kamal Dahal has said that the government is committed to give an impetus to the country&#39;s economic transformation by keeping the morale of investors, including the industrialists and business community, high.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Inaugurating the Hyundai Motor Assembling Plant of Laxmi Motor Corporation in Nawalparasi on Friday, PM Dahal stated that the country would be taken ahead on the journey of prosperity through economic development.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He said the economy would be strengthened by taking the private sector into confidence, asserting that the government is committed to facilitate investment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;The country&#39;s economy cannot be made robust without the investment of the private sector and the collaboration between the state and the private sector. The productivity cannot be increased and employment opportunities also cannot be created without this,&quot; PM Dahal said, adding that the government is always in support of creating a climate conducive to investment, promoting the private sector and security and facilitation in the investment areas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Expressing the belief that the domestic and foreign investors would be attracted more towards the industry-friendly environment in Nepal with the operation of this new assembling plant, he said it would also help in import be substitution and creating jobs for hundreds of skilled and semi-skilled labourers along with the country&rsquo;s industrialization.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The prime minister said that the establishment of the plant would facilitate consumers to buy vehicles at a relatively less price and it would contribute positively to the consumption of domestic resource and electricity. He added that the establishment of the vehicle assembling plant is a testimony of partnership in the local development and on the GDP.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;Our fiscal and monetary policies should be promotional, rather than restrictive. These policies and laws should contribute to the increase in production and employment generation,&quot; he said.&nbsp; -- RSS </span></span></span></p>

<p>&nbsp;</p>
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			'id' => '20947',
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			'title' => 'Icefall Doctors Scale Mt Everest, Opening the way for Other Aspiring Climbers  ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Ten Sherpa climbers known as ‘icefall doctors’ for their role in fixing ropes for the expedition teams reached atop the world's highest peak Mt Everest late Friday, opening the route for other climbers.    ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Kathmandu: Ten Sherpa climbers known as &lsquo;icefall doctors&rsquo; for their role in fixing ropes for the expedition teams reached atop the world&#39;s highest peak Mt Everest late Friday, opening the route for other climbers.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">With the fixing of the ropes, the expedition to Mt Everest has formally opened this year, Khimlal Gautam, chief of the Field Office of the Department of Tourism, told the state-owned RSS.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">According to Gautam, the rope fixing team reached the top of Mt Everest at 8:15 pm on Friday.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&quot;Now, the route to Mt Everest is open for this season. Other climbers will scale Mt Everest following the successful summit of the peak by the Sherpa members,&quot; Gautam said.&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">According to RSS, the members of the rope fixing team include Dendi Sherpa, Tenzing Gyalzen Sherpa, Pemba Tasi Sherpa, Lakpa Sherpa, Dawa Rinze Sherpa, Dawa Sherpa, Pam Dorjee Sherpa, Suk Bahadur Tamang, Namgyal Dorjee Tamang and Lakpa Rinze Sherpa.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Meanwhile, AFP also confirmed that the icefall doctors climbed Mt Everest citing Chhang Dawa Sherpa of Seven Summit Treks, which led the team.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&quot;A good weather window has been predicted until May 14, it is possible we will see over a hundred summits by then,&quot; AFP quoted Gautam as saying.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">The Government of Nepal has issued 414 permits to mountaineers for this year&#39;s spring climbing season, which runs from April to early June.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Most Everest hopefuls are each escorted by a Nepali guide, meaning more than 800 climbers will tread the same path to the top of the 8,850-metre (29,035-foot) peak in the coming weeks, the French news agency further reported, adding, &ldquo;This year, China reopened the Tibetan route to foreigners for the first time since it closed in 2020 because of the coronavirus pandemic.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Nepal is home to eight of the world&#39;s 10 highest peaks and welcomes hundreds of adventurers each spring, when temperatures are warm and winds are typically calm. Last year, over 600 climbers made it to the peak of the highest mountain in the world. It also became the deadliest season on the mountain with 18 deaths, added AFP.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&ldquo;A boom in climbers has made mountaineering a lucrative business since Sir Edmund Hillary and Sherpa Tenzing Norgay made the first ascent in 1953.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Heavy Rainfall likely in Koshi, Bagmati, Gandaki and Lumbini Provinces  ',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Department of Hydrology and Meteorology has predicted heavy rainfall in some places of Koshi, Bagmati, Gandaki and Lumbini provinces on Sunday.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: The Department of Hydrology and Meteorology has predicted heavy rainfall in some places of Koshi, Bagmati, Gandaki and Lumbini provinces on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the department, the weather of the country is partly to generally cloudy in Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces, while it is mostly clear in the rest of the country. Some places of Koshi, Madhes, Bagmati, Gandaki and Lumbini are experiencing light to moderate rain with thunder, storm and lightning as of Sunday morning.&nbsp;&nbsp;&nbsp;&nbsp; This is due to the effect of the westerly and local winds as well as the low pressure system formed around Bihar in India, the Department of Hydrology and Meteorology added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The weather will remain partly to generally cloudy across the country in the afternoon, with light to moderate rain accompanied by thunder and lightning in some parts of the country. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lateer tonight, the weather will remain partly to general cloudy across the country. There is a possibility of light to moderate rain with thunder and lightning at some places of Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces as well as at one or two places of the remaining provinces.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In the next 24 hours, there is a possibility of light to moderate rain with lightning in some parts of the country, according to the weather bulletin issued by the department on Sunday morning. -- RSS</span></span></span></p>
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			'title' => 'Nepal’s Trade Deficit Tops One Trillion',
			'sub_title' => '',
			'summary' => 'Kathmandu: Nepal’s trade deficit in the first nine months of the current fiscal year stands at Rs 1053.42 billion.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: Nepal&rsquo;s trade deficit in the first nine months of the current fiscal year stands at Rs 1053.42 billion.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the latest report of Nepal Rastra Bank, the total trade deficit decreased by 2.8 percent to Rs 1053.42 billion in the review period against a decline of 17.1 percent in the corresponding period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The export-import ratio remained at 9.8 percent in the review period same as in the corresponding period of the previous year, states the Current Macroeconomic and Financial Situation Report of Nepal published by the central bank on Sunday.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">During the review period, merchandise exports decreased 3.7 percent to Rs 113.95 billion compared to a decrease of 26.3 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, exports to India and other countries decreased 6.2 percent and 2.0 percent respectively, whereas exports to China increased 232 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the NRB report, exports of zinc sheet, particle board, juice, polyester yarn and thread, and readymade garments among others increased whereas exports of palm oil, soybean oil, woolen carpet, tea, jute goods among others decreased.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, merchandise imports decreased 2.8 percent to Rs 1167.37 billion compared to a decrease of 18.1 percent a year ago. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Destination-wise, imports from India and other countries decreased 3.2 percent and 22.6 percent respectively while imports from China increased 33.4 percent. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Imports of transport equipment, vehicle and spare parts, readymade garments, aircraft spare parts, electrical equipment, textiles among others increased whereas imports of gold, crude soybean oil, crude palm oil, petroleum products, rice/paddy among others decreased, the report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on customs points, exports from Bhairahawa, dry port, Jaleswor, Kanchanpur, Krishnanagar, Mechi, Rasuwa and Tatopani customs increased whereas exports from all the other major customs points decreased in the review period. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the import side, imports from dry port, Jaleshwor, Kanchanpur, Krishnanagar, Nepalgunj, Rasuwa and Tatopani customs offices increased whereas imports from all the other major customs points decreased in the review period. </span></span></p>
',
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	(int) 1 => array(
		'Article' => array(
			'id' => '20965',
			'article_category_id' => '1',
			'title' => 'Remittance Inflow Stands at Rs 1082 Billion in Nine Months',
			'sub_title' => '',
			'summary' => 'Kathmandu: The inflow of remittance in Nepal in the first nine months of the current fiscal year stands at Rs 1082.62 billion, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The inflow of remittance in Nepal in the first nine months of the current fiscal year stands at Rs 1082.62 billion, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report unveiled by the central bank on Sunday reveals that the inflow of remittance to Nepal increased by 19.8 percent in the review period compared to an increase of 24.2 percent in the same period of the previous year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US Dollar terms, inflow of remittance increased 17.7 percent to USD 8.15 billion in the review period compared to an increase of 13.9 percent in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, the number of Nepali workers, both institutional and individual, taking first-time approval for foreign employment stood at 329,422 while those taking approval for renew entry was 212,721.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the corresponding period of the previous year, workers seeking labour permit for the first time was 387,839 and those seeking to renew their work permits stood at 217,959. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the net transfer increased 17.8 percent to Rs 1174.50 billion in the review period according to the NRB report. Such a transfer had increased 22.8 percent in the same period of the previous year.</span></span></p>
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			'sortorder' => '20693',
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	(int) 2 => array(
		'Article' => array(
			'id' => '20969',
			'article_category_id' => '1',
			'title' => 'Finance Minister Assures for Prudent Tax Policy',
			'sub_title' => '',
			'summary' => 'Finance Minister Barshaman Pun said that there won't be arbitrary changes to the tax rate in the upcoming fiscal year's budget.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">May 13: Finance Minister Barshaman Pun said that there won&#39;t be arbitrary changes to the tax rate in the upcoming fiscal year&#39;s budget.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">&nbsp;Pun stated that any adjustments to the tax rate will be made with careful consideration of national interests, rather than catering to interests of specific business houses. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Minister Pun assured that any changes would be accompanied by a clear rationale and would not disrupt long-term private sector investments. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Additionally, Pun highlighted the government&#39;s commitment to promoting open and transparent business policies and encouraging private sector participation in Nepal&#39;s development journey. </span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Minister Pun also addressed concerns regarding the slowdown in the construction sector, promising government efforts to address underlying issues causing the slowdown.</span></span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Segoe UI&quot;,&quot;sans-serif&quot;">Moreover, Pun acknowledged the government&#39;s responsibility in addressing past financial liabilities, indicating readiness to manage liabilities amounting to around Rs 600 billion from previous years.</span></span></span></p>
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			'keywords' => '',
			'description' => '',
			'sortorder' => '20692',
			'image' => '20240513085031_collage (1).jpg',
			'article_date' => '2024-05-13 08:49:11',
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	(int) 3 => array(
		'Article' => array(
			'id' => '20963',
			'article_category_id' => '1',
			'title' => 'SC Scraps Writ Petitions Filed by Worldlink, Clears Way for ISPs to Pay Royalty to Government',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Supreme Court has scrapped all eight writ petitions filed by Worldlink Communications, an internet service provider (ISP), against the government’s decision to impose Rural Telecommunications Development Fee and royalty charge on maintenance fee collected by the ISPs.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The Supreme Court has scrapped all eight writ petitions filed by Worldlink Communications, an internet service provider (ISP), against the government&rsquo;s decision to impose Rural Telecommunications Development Fee and royalty charge on maintenance fee collected by the ISPs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A division bench of SC Justices Hari Prasad Phuyal and Dr Nahakul Subedi rejected Worldlink&#39;s claim by scrapping the petitions on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">With the SC&#39;s move, the government now can collect royalty and Rural Telecommunications Development Fees (RTDF) from Worldlink Communications which the ISP had refused to pay.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The SC verdict is likely to add billions of rupees to the state coffers from other ISPs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;As the SC has scrapped the writ petitions, the ISPs must now pay the dues,&rdquo; Govinda Prasad Ghimire, information officer at the Supreme Court, told New Business Age.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government was unable to collect royalty revenue on maintenance charge from the internet service providers (ISPs) since the fiscal year 2072/073 BS, according to the Office of the Auditor General. The ISPs including Worldlink Communications were found to have evaded the tax by misinterpreting the law. However, the ISPs were paying the Rural Telecommunication Development Fee and royalties from the fees collected from customers for providing internet service.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">There has been a dispute between the government and the Internet Service Providers (ISPs) whether to consider the maintenance service provided by the ISPs as a telecommunication service or not and whether to pay a certain percentage of the fees collected by the ISPs to the Rural Telecommunication Development Fee and to the government as royalty.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government has been considering maintenance as a telecommunication service and has been asking the ISPs to pay two-tier tax. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Internet Service Providers Association of Nepal (ISPAN) claims that the ISPs have been regularly paying royalties and rural telecommunication development fees to be paid from income from telecommunication services in accordance to the Telecommunication Act, Telecommunication Regulations and Rural Telecommunication Development Fund Regulations. However, the umbrella body of ISPs maintained that there is no legal provision to pay royalties and rural telecommunication development fund fee from income generated from non-telecommunication services such as maintenance services.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The dispute led to the disruption in internet services across the country on May 2 after India&rsquo;s Airtel, which provides bandwidth to Nepali ISPs, stopped providing the bandwidth for six hours citing non-payment of dues by the Nepali ISPs. The ISPs were unable to clear their outstanding dues to Airtel because the Nepal Telecommunications Authority has not recommended foreign exchange facilities to them since a year arguing that they must first pay the Rural Telecommunication Development Fee and royalty. Airtel provided the bandwidth after assurance from the government and the ISPs that they will pay the dues.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Ministry of Communications and Information Technology had formed a study team led by Joint Secretary Gaurav Giri to probe into the tax evasion from the ISPs. The study team pointed out that nine ISPs were liable to pay Rs 3.64 billion in royalty revenue and Rural Telecommunications Development Fees to the government. Under the headings, the Worldlink Communications alone has to pay Rs 1.96 billion.&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the other hand, the Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, had published a list of 48 internet service providers (ISPs) in August for not paying the royalty amount and taxes under the heading of the Rural Telecommunication Development Fee. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the report published by the NTA in last December, 77 internet service providers had deposited more than Rs 1.67 billion. There are currently 128 internet service provider companies and 23 network service provider companies registered in Nepal.</span></span></p>

<p>&nbsp;</p>
',
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			'created' => '2024-05-13',
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			'keywords' => 'supreme, court, internet, service, provider, ISP, ISPs, Worldlink, Nepal, government, royalty, rural, telecommunication, development, fee, dispute, tax',
			'description' => '',
			'sortorder' => '20691',
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	(int) 4 => array(
		'Article' => array(
			'id' => '20964',
			'article_category_id' => '1',
			'title' => 'Inflation Moderates to 4.61 Percent in mid-April',
			'sub_title' => '',
			'summary' => 'Kathmandu: The year-on-year (y-o-y) consumer price inflation moderated to 4.61 percent in mid-April 2024 compared to 7.76 percent a year ago, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The year-on-year (y-o-y) consumer price inflation moderated to 4.61 percent in mid-April 2024 compared to 7.76 percent a year ago, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report published by the central bank on Sunday reveals that the food and beverage category inflation stood at 5.21 percent whereas non-food and service category inflation stood at 4.14 percent in the review month.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the food and beverage category, the y-o-y price index of spices sub-category increased 22.64 percent, vegetable 16.99 percent, pulses and legumes 10.94 percent, cereal grains and their products 7.59 percent and non-alcholic drinks 6.06 percent in the review month. The y-o-y price index of ghee and oil subcategory decreased 10.10 percent in the review month, the report added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Under the non-food and services category, the y-o-y price index of miscellaneous goods and services sub-category increased 12.81 percent, recreation and culture 12.61 percent and education 7.31 percent in the review month. Meanwhile, the y-o-y price index of transportation sub-category decreased 0.33 percent in the review month, the NRB report states.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain regions stood at 4.06 percent, 4.58 percent, 5.33 percent and 4.32 percent respectively in the review month. Such inflation in these regions were 8.57 percent, 7.68 percent, 7.01 percent and 7.47 percent respectively a year ago.</span></span></p>
',
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			'sortorder' => '20690',
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	(int) 5 => array(
		'Article' => array(
			'id' => '20962',
			'article_category_id' => '1',
			'title' => 'Current Account and BoP in Surplus, Foreign Exchange Reserves Increase in Current FY',
			'sub_title' => '',
			'summary' => 'Kathmandu: The current account of Nepal remained at a surplus of Rs 179.48 billion in the first nine months of the current fiscal year against a deficit of Rs 60.43 billion in the same period of the previous year, according to the latest report of Nepal Rastra Bank.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: The current account of Nepal remained at a surplus of Rs 179.48 billion in the first nine months of the current fiscal year against a deficit of Rs 60.43 billion in the same period of the previous year, according to the latest report of Nepal Rastra Bank.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Current Macroeconomic and Financial Situation Report of Nepal unveiled by the central bank on Sunday states that the current account, in terms of the US dollar, registered a surplus of 1.35 billion in the review period against a deficit of 468.3 million in the same period last year. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review period, capital transfer decreased 19.2 percent to Rs 4.78 billion and net foreign direct investment (FDI) remained a positive of Rs 6.48 billion, the NRB report added. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the same period of the previous year, capital transfer amounted to Rs 5.91 billion and net FDI amounted to Rs 2.62 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the Balance of Payments (BOP) remained at a surplus of Rs 365.16 billion in the review period against a surplus of Rs 174.28 billion in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US Dollar terms, the BOP remained at a surplus of 2.75 billion in the review period against a surplus of 1.32 billion in the same period of the previous year.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank&rsquo;s report further mentions that the gross foreign exchange reserves increased 24.2 percent to Rs 1911.86 billion in mid-April 2024 from Rs 1539.36 billion in mid-July 2023. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the US dollar terms, the gross foreign exchange reserves increased 22.7 percent to 14.36 billion in mid-April 2024 from 11.71 billion in mid-July 2023.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Of the total foreign exchange reserves, reserves held by NRB increased 25.4 percent to Rs 1688.21 billion in mid-April 2024 from Rs 1345.78 billion in mid-July 2023. Likewise, the reserves held by banks and financial institutions (except NRB) increased 15.5 percent to Rs 223.65 billion in mid-April 2024 from Rs 193.59 billion in mid-July 2023, the report added.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The share of Indian currency in total reserves stood at 21.6 percent in mid-April 2024.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Based on the imports of nine months of 2023/24, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 15 months, and merchandise and services imports of 12.5 months. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The ratio of reserves-to-GDP, reserves-to-imports and reserves-to-M2 stood at 33.5 percent, 104 percent and 28.9 percent respectively in mid-April 2024. Such ratios were 28.8 percent, 83.0 percent and 25.0 percent respectively in mid-July 2023.</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '20956',
			'article_category_id' => '1',
			'title' => 'Relocation of Valley’s Industries Essential for Better Urbanization: Minister Bhandari   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has opined that relocation of Kathmandu valley’s industries would contribute to better urbanization.     Minister Bhandari made such a remark while receiving a memo from the Grill and Steel Entrepreneurs' Federation Nepal at the ministry on Sunday.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has opined that relocation of Kathmandu valley&rsquo;s industries would contribute to better urbanization.&nbsp;&nbsp;&nbsp;&nbsp; Minister Bhandari made such a remark while receiving a memo from the Grill and Steel Entrepreneurs&#39; Federation Nepal at the ministry on Sunday. </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;In the developed countries, industries are located away from urban areas; we can also plan separate safe places for industries,&quot; he reiterated.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Minister Bhandari suggested the Federation that it adopted new technology as per the need of the time.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to him, we cannot compete in the global market with continuous reliance on import of raw materials. The foreign items must be replaced, he suggested.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">A delegation led by the Federation&rsquo;s Chairman Thulo Babu Shrestha met the minister and demanded him to take initiatives to increase custom tariff on import of the products which Nepal itself produces in the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The minister assured the delegation that he would coordinate with the Finance Ministry to address the genuine demands. He also pledged ministry&rsquo;s support for adoption of new technology in the grill industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The Federation put forth seven demands, including creation of atmosphere conducive for business. -- RSS&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '20955',
			'article_category_id' => '1',
			'title' => 'Spring Ascent: Kami Rita Climbs Mount Everest for a Record 29th Time',
			'sub_title' => '',
			'summary' => 'Kathmandu: Kami Rita Sherpa has broken his own record for the most ascents of the world's highest peak, Sagarmatha (Mt Everest), reaching the summit for the 29th time on Sunday.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Kathmandu: Kami Rita Sherpa has broken his own record for the most ascents of the world&#39;s highest peak, Sagarmatha (Mt Everest), reaching the summit for the 29th time on Sunday.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Sherpa surpassed his previous achievement during the spring expedition of the 8,848.86-meter-high mountain. Originally from Thame village in the Khumbu Pasang Lhamu rural municipality of Solukhumbu district, the 54-year-old record-holder has once again etched his name in history.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Rakesh Gurung, director of the Adventure Tourism and Mountaineering Section at the Department of Tourism, confirmed Kami Rita Sherpa&#39;s successful ascent early Sunday morning.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Having first conquered Everest on May 13, 1994, Kami Rita also holds the record for the most ascents of peaks above 8,000 meters.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">He stands as the sole mountaineer to achieve the highest number of Everest ascents since Tenzing Norgay and Edmund Hillary&#39;s historic climb on May 29, 1953.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Following closely in the record-setting spree is Dawa Sherpa of Solukhumbu district, who scaled Everest for the 27th time last spring.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A team of ten Sherpa members, responsible for fixing ropes, ascended Everest on Friday night, paving the way for a total of 414 adventurers who have secured permits to climb Everest this spring season. -- RSS</span></span></p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '20954',
			'article_category_id' => '1',
			'title' => 'NEPSE Closes at 1974.50 with Gain of 8.26 Points',
			'sub_title' => '',
			'summary' => 'The Nepal Stock Exchange(NEPSE) Index witnessed a gain of 8.26 points or 0.42%, closing at 1974.50 on the first trading day of the week on Sunday.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 12: The Nepal Stock Exchange(NEPSE) Index witnessed a gain of 8.26 points or 0.42%, closing at 1974.50 on the first trading day of the week on Sunday. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today&rsquo;s trading session, 311 scrips were traded on the NEPSE through 49,764 transactions, with 7,857,031 total shares changing their hands resulting in a total turnover of Rs 3.15 billion.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shangrila Development Bank Limited(SADBL) led the turnover amount with the total transaction of Rs 10 crores. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Shrijanshil Laghubitta Bittiya Sanstha(SHLB) recorded the highest gain of 10%, hitting the positive circuit for the day and closing ta a market price of Rs 1372 per share. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">On the contrary, Manushi Laghubitta Bittiya Sanstha(MLBS) incurred the maximum loss of 5.44%, closing at a market price of Rs 1200 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 indices closed in the negative territory except Finance Index, Hotels and Tourism Index and Microfinance Index. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Non-Life Insurance saw the highest gain of 2.64%, while Microfinance Index experienced the most loss at 1.35%.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;</span></span></p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '20953',
			'article_category_id' => '1',
			'title' => 'Government's Policies and Programmes Hang in the Balance as NC Continues Parliament Obstruction',
			'sub_title' => '',
			'summary' => 'Kathmandu: The Nepali Congress has been obstructing the Parliament demanding a parliamentary inquiry against Deputy Prime Minister and Home Minister Rabi Lamichhane for his alleged involvement in co-operative fraud.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Kathmandu: The Nepali Congress has been obstructing the Parliament demanding a parliamentary inquiry against Deputy Prime Minister and Home Minister Rabi Lamichhane for his alleged involvement in co-operative fraud. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">The government has announced to present its policies and programmes for the next fiscal year (FY) on May 19. The Parliament Secretariat has already announced that President Ram Chandra Paudel will present the government&rsquo;s policies and programmes at the joint meeting of the House of Representatives and the National Assembly to be held at 3 pm on May 19.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">According to the rules of the Parliament, the president on behalf of the government must present the government&rsquo;s policies and programmes in the Parliament before announcing the budget. The policies and programmes shed light on the overall policies and priorities of the government for the coming year.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">However, the Nepali Congress, which had also blocked the winter session of Parliament demanding an investigation against Deputy Prime Minister and Home Minister Lamichhane, again blocked the budget session of the Parliament which was called for May 10. The Nepali Congress has stuck to its stance of not allowing the House to proceed until a parliamentary committee is formed to investigate Lamichhane. However, the government is not in favor of forming such a committee so far.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">The Nepali Congress has not yet come up with a clear view on whether or not to allow the President to present the policies and programmes. The Congress leaders have said that a concrete decision on this matter can be taken by the meeting of the Congress parliamentary party called for Monday and that the policies and programmes cannot be presented in the current situation. The official meeting of NC held at the residence of NC President Sher Bahadur Deuba on Saturday also concluded that the government did not want to resume the parliament session.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">After the meeting, NC General Secretary Gagan Thapa told media persons, &quot;Not only the policies and programmes, but none of the government&#39;s activities can proceed until the parliamentary committee is formed. The conclusion of today&#39;s meeting is that we will not back down until a parliamentary inquiry committee is formed.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Another Congress leader and party spokesperson Dr Prakash Sharan Mahat said that top leaders including the party president are discussing with the prime minister about removing the obstruction of the House. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">After Prime Minister Pushpa Kamal Dahal formed a new government with support from the CPN UML and Rashtriya Swatantra Party (RSP) by severing its ties with the Nepali Congress, the right-wing party has strongly opposed the current government. The Nepali Congress has focused its criticism on Deputy Prime Minister and Home Minister Lamichhane than Prime Minister Dahal as the home minister is allegedly involved in co-operative scam.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Government reports have revealed that Lamichhane, who is not a member of Suryadarshan Cooperative, took Rs 10 million from the cooperative. Similarly, police investigation shows that Lamichhane also received money from Supreme Savings and Loan Cooperative Society in Butwal. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Lamichhane has admitted that he is not a member of any of the two cooperatives. A person who is not a member of a cooperative cannot take loans. However, documents show that Lamichhane took loans controversially. Although documents show that the money has been paid back, the cooperatives claim the money has not been deposited yet. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Lamichhane maintained his innocence saying that someone else opened a fake account in his name and received the money. He also claimed that the police investigation into the scam has revealed that the money was withdrawn without filing the loan request form and those who took away the loan did not provide details of the three generations required to obtain loan. Lamichhane added that the documents also do not have his signature or finger prints.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">He also reiterated in a statement issued on Friday that he is not a co-operative fraudster. Instead, he has announced that if he is found guilty of taking the loan, he is ready to give up politics.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">In response to Lamichhane&#39;s statement, Congress General Secretary Thapa said that he had strong evidence to confirm the allegations against Lamichhane. Thapa added that if he could not prove Lamichhane guilty, he would retire from politics.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">GB Rai had partnered with Lamichhane to operate Galaxy Four K Television under Gorkha Network Pvt Ltd, of which Lamichhane was the managing director. Now the television has been shut down. According to the government report, the operators of the television including Lamichhane had taken a loan of Rs 300 million from Pokhara&#39;s Suryadarshan Cooperative.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Meanwhile, leaders of the ruling party say that the NC turned against Lamichhane after he refused to support NC&rsquo;s candidate for the post of prime minister.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">UML President and former Prime Minister KP Sharma Oli said at an event held in Kathmandu on Saturday that Lamichhane was labeled as a corrupt member of the cooperative because he rejected the offer made by the Nepali Congress.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Although the ruling parties have agreed to investigate the cooperative sector as a whole, they have not agreed to form a parliamentary committee to investigate Lamichhane. Oli claims that the Nepali Congress will demand the resignation of the Home Minister Lamichhane as soon as such an inquiry committee is formed. If Lamichhane resigns as the Minister of Home Affairs, the ruling coalition is likely to collapse and therefor the ruling parties are hesitant to form a parliamentary probe committee against Lamichhane.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Chief Whip of CPN (Maoist Centre) Hitraj Pandey said that they are ready to investigate the entire cooperative sector including the allegations against Lamichhane. The Congress, on the other hand, has not announced a clear opinion on the matter of having a parliamentary inquiry into the cooperative sector as a whole. As the Parliament remains blocked, the process of making various laws has been interrupted.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">Former Speaker Damannath Dhungana says that parties should not hold Parliament hostage. Parliament is the highest platform of the people. Legislation should be focused on the issue of people&#39;s livelihood. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:15.0pt"><span style="font-family:&quot;ekmukta&quot;,&quot;serif&quot;">CPN (UML) chief whip Mahesh Bertaula expressed the hope that since discussions are being held at the top leadership level, the parliament will not be held hostage for long and a solution will be found.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '20951',
			'article_category_id' => '1',
			'title' => 'Informal Talks on to Clear Parliament Obstruction   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Leaders of the major political parties have continued internal and informal dialogues to clear the obstruction of the federal parliament meetings.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Leaders of the major political parties have continued internal and informal dialogues to clear the obstruction of the federal parliament meetings.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">On the very first day of budget session of federal parliaments on Friday, the main opposition party Nepali Congress stalled the parliament, posing a demand of parliamentary probe commission on embezzlement in cooperatives. It resulted in both parliaments&#39; failure to proceed with scheduled business.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In this connection, Prime Minister Pushpa Kamal Dahal is learnt to have talked to leaders including CPN UML on how consensus could be built for smooth running of the parliament.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, the Nepali Congress held a meeting of the office bearers on Saturday. Accusing the Deputy Prime Minister and Home Minister Rabi Lamichhane of his involvement in embezzlement of cooperatives fund, the NC has insisted on formation of a parliamentary probe committee on it.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Talking to the Rastriya Samachar Samiti (RSS), Chief Whip of CPN (Maoist Centre) Hitraj Pande informed that no agreement was made so far on clearing the parliamentary obstruction, but the government was devoted to find out solution at any cost.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Chief Whip of CPN UML Mahesh Bartaula also hoped the talk among the top leaders would pave a way for removal of house obstruction.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Both the meetings of the Upper and Lower Houses are slated for May 14. -- RSS&nbsp; </span></span></span></p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '20950',
			'article_category_id' => '1',
			'title' => 'President Approves Resignation of Economic Expert Advisor Nepal',
			'sub_title' => '',
			'summary' => 'Kathmandu: President Ram Chandra Paudel has approved the resignation of economic expert advisor Dr Chiranjeevi Nepal.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: President Ram Chandra Paudel has approved the resignation of economic expert advisor Dr Chiranjeevi Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Issuing a press statement on Sunday, spokesperson for the Office of the President, Shailaja Regmi Bhattarai mentioned that the president has accepted the resignation tendered by his economic expert advisor Nepal, who is a former governor of Nepal Rastra Bank.&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">President Paudel thanked Nepal for his service during his tenure.&nbsp; </span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Former Governor Nepal courted controversy recently over his remarks on the government&rsquo;s recent decision to include the new map of Nepal in the hundred-rupee notes of Nepali currency.</span></span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;&nbsp; </span></span></p>
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		'Article' => array(
			'id' => '20952',
			'article_category_id' => '1',
			'title' => 'Government is Committed to Facilitate and Secure Investment: PM Dahal   ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Prime Minister Pushpa Kamal Dahal has said that the government is committed to give an impetus to the country's economic transformation by keeping the morale of investors, including the industrialists and business community, high.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: Prime Minister Pushpa Kamal Dahal has said that the government is committed to give an impetus to the country&#39;s economic transformation by keeping the morale of investors, including the industrialists and business community, high.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Inaugurating the Hyundai Motor Assembling Plant of Laxmi Motor Corporation in Nawalparasi on Friday, PM Dahal stated that the country would be taken ahead on the journey of prosperity through economic development.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">He said the economy would be strengthened by taking the private sector into confidence, asserting that the government is committed to facilitate investment.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;The country&#39;s economy cannot be made robust without the investment of the private sector and the collaboration between the state and the private sector. The productivity cannot be increased and employment opportunities also cannot be created without this,&quot; PM Dahal said, adding that the government is always in support of creating a climate conducive to investment, promoting the private sector and security and facilitation in the investment areas.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Expressing the belief that the domestic and foreign investors would be attracted more towards the industry-friendly environment in Nepal with the operation of this new assembling plant, he said it would also help in import be substitution and creating jobs for hundreds of skilled and semi-skilled labourers along with the country&rsquo;s industrialization.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The prime minister said that the establishment of the plant would facilitate consumers to buy vehicles at a relatively less price and it would contribute positively to the consumption of domestic resource and electricity. He added that the establishment of the vehicle assembling plant is a testimony of partnership in the local development and on the GDP.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">&quot;Our fiscal and monetary policies should be promotional, rather than restrictive. These policies and laws should contribute to the increase in production and employment generation,&quot; he said.&nbsp; -- RSS </span></span></span></p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '20947',
			'article_category_id' => '1',
			'title' => 'Icefall Doctors Scale Mt Everest, Opening the way for Other Aspiring Climbers  ',
			'sub_title' => '',
			'summary' => 'Kathmandu: Ten Sherpa climbers known as ‘icefall doctors’ for their role in fixing ropes for the expedition teams reached atop the world's highest peak Mt Everest late Friday, opening the route for other climbers.    ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Kathmandu: Ten Sherpa climbers known as &lsquo;icefall doctors&rsquo; for their role in fixing ropes for the expedition teams reached atop the world&#39;s highest peak Mt Everest late Friday, opening the route for other climbers.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">With the fixing of the ropes, the expedition to Mt Everest has formally opened this year, Khimlal Gautam, chief of the Field Office of the Department of Tourism, told the state-owned RSS.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">According to Gautam, the rope fixing team reached the top of Mt Everest at 8:15 pm on Friday.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&quot;Now, the route to Mt Everest is open for this season. Other climbers will scale Mt Everest following the successful summit of the peak by the Sherpa members,&quot; Gautam said.&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">According to RSS, the members of the rope fixing team include Dendi Sherpa, Tenzing Gyalzen Sherpa, Pemba Tasi Sherpa, Lakpa Sherpa, Dawa Rinze Sherpa, Dawa Sherpa, Pam Dorjee Sherpa, Suk Bahadur Tamang, Namgyal Dorjee Tamang and Lakpa Rinze Sherpa.&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Meanwhile, AFP also confirmed that the icefall doctors climbed Mt Everest citing Chhang Dawa Sherpa of Seven Summit Treks, which led the team.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&quot;A good weather window has been predicted until May 14, it is possible we will see over a hundred summits by then,&quot; AFP quoted Gautam as saying.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">The Government of Nepal has issued 414 permits to mountaineers for this year&#39;s spring climbing season, which runs from April to early June.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Most Everest hopefuls are each escorted by a Nepali guide, meaning more than 800 climbers will tread the same path to the top of the 8,850-metre (29,035-foot) peak in the coming weeks, the French news agency further reported, adding, &ldquo;This year, China reopened the Tibetan route to foreigners for the first time since it closed in 2020 because of the coronavirus pandemic.&rdquo;</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">Nepal is home to eight of the world&#39;s 10 highest peaks and welcomes hundreds of adventurers each spring, when temperatures are warm and winds are typically calm. Last year, over 600 climbers made it to the peak of the highest mountain in the world. It also became the deadliest season on the mountain with 18 deaths, added AFP.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Calibri&quot;,&quot;sans-serif&quot;">&ldquo;A boom in climbers has made mountaineering a lucrative business since Sir Edmund Hillary and Sherpa Tenzing Norgay made the first ascent in 1953.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Heavy Rainfall likely in Koshi, Bagmati, Gandaki and Lumbini Provinces  ',
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			'summary' => 'Kathmandu: The Department of Hydrology and Meteorology has predicted heavy rainfall in some places of Koshi, Bagmati, Gandaki and Lumbini provinces on Sunday.    ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Kathmandu: The Department of Hydrology and Meteorology has predicted heavy rainfall in some places of Koshi, Bagmati, Gandaki and Lumbini provinces on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the department, the weather of the country is partly to generally cloudy in Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces, while it is mostly clear in the rest of the country. Some places of Koshi, Madhes, Bagmati, Gandaki and Lumbini are experiencing light to moderate rain with thunder, storm and lightning as of Sunday morning.&nbsp;&nbsp;&nbsp;&nbsp; This is due to the effect of the westerly and local winds as well as the low pressure system formed around Bihar in India, the Department of Hydrology and Meteorology added.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The weather will remain partly to generally cloudy across the country in the afternoon, with light to moderate rain accompanied by thunder and lightning in some parts of the country. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Lateer tonight, the weather will remain partly to general cloudy across the country. There is a possibility of light to moderate rain with thunder and lightning at some places of Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces as well as at one or two places of the remaining provinces.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In the next 24 hours, there is a possibility of light to moderate rain with lightning in some parts of the country, according to the weather bulletin issued by the department on Sunday morning. -- RSS</span></span></span></p>
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FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00