April 2: Nepal has been facing a trade deficit with Bangladesh for the past one…
April 2: Nepal has been facing a trade deficit with Bangladesh for the past one…
April 2: For the past few days, the mayor of Dharan sub-metropolitan city, Harak Sampang, has been lobbying to get a water supply project for Rai Nagar under the federal government's…
April 2: The World Bank (WB) has projected Nepal’s economy to grow by 3.3% in 2024, driven by revived tourism and a pickup in hydropower…
April 2: The number of tourists arriving in Nepal by air route has increased by 33.78 percent in the first three months of…
April 2: The exploration of petroleum products in Dailekh is expected to gain momentum after the arrival of equipment for the first phase of exploration in the district.…
April 2: Banks and financial institutions (BFIs) have around Rs 650 billion investable capital.…
April 2: A delegation of the US Chamber of Commerce delegation is all set to attend the upcoming Investment Summit to be held in Nepal on April 28-29.…
April 1: The International Relations and Tourism Committee under the House of Representatives has directed the Nepal Airlines Corporation (NAC) to provide it with documents concerning the maintenance of a narrow-body aircraft within the next 15…
April 1: As many as 63 mountaineers have received permits to climb Mt Everest, the world's highest peak, for this year's spring…
April 1: The number of foreign tourists visiting Nepal in the month of March increased by 28.9 percent this year compared to the same period of last…
April 1: The price of gold has reached an all-time high on Monday with an increase of Rs 1,600 per tola (11.66 grams) in the domestic…
April 1: UN Secretary-General Antonio Guterres on Saturday called for worldwide efforts to tackle the waste crisis.…
April 1: The Parliamentary Hearings Committee has initiated the process of hearing of the proposed Auditor General Toyam Raya from Monday.…
April 1: Nepal Oil Corporation (NOC) has increased the price of petrol by Rs 4 per liter effective from Monday, April 1.…
April 1: A High-level Recommendation Committee on Tax System Reforms has recommended the government to reform tax-related laws of the country as well as the revenue…
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It may be noted that the volume of trade through the air route is nominal between the two countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer at Mechi Customs Office, Ram Prasad Regmi, said Nepal has not been able to balance trade with Bangladesh any year since the fiscal year 2071/72 BS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Mechi customs office, goods worth Rs 2.59 billion were imported from Bangladesh in the eight months of the current fiscal year. In the same period, goods worth Rs 165.64 million were exported to Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the customs data, Nepal suffered trade deficit of Rs 5.18 billion with Bangladesh in the FY 2079/80, Rs 10.38 billion in the FY 2078/79, Rs 6.54 billion in the FY 2077/78, Rs 4.24 billion in the FY 2076/77, Rs 2.44 billion in the FY 2075/76 and Rs 2.44 billion in the FY 2075/76 and Rs 2.44 billion in the FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, there was a trade deficit of Rs 2.86 billion in FY 2073/74 and Rs 1.40 billion in FY 2071/72. --RSS</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20357', 'image' => '20240402065758_20240311122722_20240122013031_How-to-start-an-import-export-business.jpg', 'article_date' => '2024-04-02 18:57:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20629', 'article_category_id' => '1', 'title' => 'Leaders Lobbying to Include Plans of Vested Interest in Upcoming Budget', 'sub_title' => '', 'summary' => 'April 2: For the past few days, the mayor of Dharan sub-metropolitan city, Harak Sampang, has been lobbying to get a water supply project for Rai Nagar under the federal government's budget.', 'content' => '<p><span style="font-size:18px">April 2: For the past few days, the mayor of Dharan sub-metropolitan city, Harak Sampang, has been lobbying to get a water supply project for Rai Nagar under the federal government's budget. </span></p> <p><span style="font-size:18px">According to Finance Minister Barshman Pun's secretariat, Mayor Sampang has demanded a budget of around Rs 5 billion for the project which can supply water from Saptakoshi River in Chatara, which is about 15 kilometers away from Dharan. </span></p> <p><span style="font-size:18px">However, a senior official of the National Planning Commission said that the plan proposed by Mayor Sampang falls outside the budget system. "This project does not appear to have been entered in the National Project Bank either. </span></p> <p><span style="font-size:18px">As per the rules, such projects will not get any budget," a senior official who oversees the commission's project bank told New Business Age requesting anonymity. </span></p> <p><span style="font-size:18px">The National Planning Commission had recently issued guidelines on budget preparation to stop the trend of including projects of vested interest of politicians in the budget. </span></p> <p><span style="font-size:18px">According to the Financial Procedures and Fiscal Responsibility Regulations, all central agencies have to send the details of the annual budget and program and medium-term expenditure structure by themselves or through their subordinate offices or projects by compulsorily entering the details of the projects in the National Project Bank. </span></p> <p><span style="font-size:18px">The trend of the people's representative meeting the minister directly to put pressure for inclusion of plans still persists. </span></p> <p><span style="font-size:18px">When Sampang asked for a budget, Finance Minister Barshman Pun suggested him to follow the budget system. The Finance Minister's secretariat said that Minister Pun suggested Sampang to talk to the Ministry of Water Supply and Sanitation as the demand for water supply project should come from the relevant ministry.</span></p> <p><span style="font-size:18px">While the work of drafting the budget for the next fiscal year (FY) has started, Mayor Sampang has been openly pressuring the Minister for Finance as well as the Minister for Home Affairs and Minister for Industry to secure resources for the plans of his interest. </span></p> <p><span style="font-size:18px">Like the mayor of Dharan, other people's representatives have also stepped up their efforts in recent days to incorporate their desired plans in the budget. According to government officials, the plans proposed by many such people’s representatives are not in accordance with the rules. After the promulgation of the new constitution in 2072 BS, the three-tier government started announcing the budget. </span></p> <p><span style="font-size:18px">The leaders had openly announced that the authority of Singha Durbar had been delegated to the village. However, in practice, the tendency of seeking the central government’s help for even petty projects still persists. Even now, the party leaders and the people's representatives have not stopped visiting Singha Durbar to fulfill their plans with vested interest.</span></p> <p><span style="font-size:18px">Rastriya Swatantra Party (RSP)’s MP Hari Dhakal pointed out that there is a risk of repetition of the budget of the same nature due to pressure from the political party leaders and elected representatives. Stating that the discussions in the parliament regarding the principles and priorities of the upcoming year's budget have been completed, he said that a large number of leaders have been lobbying for incorporating their plans in the budget at a time when the NPC has been fixing the ceiling of budget. </span></p> <p><span style="font-size:18px">Uttar Kumar Khatri, joint secretary of the Ministry of Finance, says that it is not appropriate to put pressure for inclusion of schemes from outside the budget system as the government employees have been working from morning till late night to prepare the budget. Khatri insists that if any plans are to be incorporated in the budget, they should come through the relevant ministry. </span></p> <p><span style="font-size:18px">The Constitution of Nepal has a mandatory provision for the government to announce the budget on the fifteenth day of the second month of the Nepali calendar which falls on May 28 this year. </span></p> <p><span style="font-size:18px">The National Planning Commission has set a ceiling of Rs 1800 billion for the next year's budget. However, a highly-placed source at the Ministry of Finance said that the prime minister has instructed to start preparations to bring a budget of around Rs 2000 billion to revitalize the economy of the country. </span></p> <p><span style="font-size:18px">For the current fiscal year, the government had announced a budget of Rs 1751 billion. However, the government has not been able to implement the current fiscal year's budget effectively. So far, the government has failed to spend even 50 percent of the allocated budget. Similarly, even 30 percent of the development budget has not been spent. This has raised serious questions about the efficiency of the government.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20356', 'image' => '20240402044015_budget.jpg', 'article_date' => '2024-04-02 16:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20628', 'article_category_id' => '1', 'title' => 'WB Projects Nepal's Economic Growth to be 3.3 Percent in 2024', 'sub_title' => '', 'summary' => 'April 2: The World Bank (WB) has projected Nepal’s economy to grow by 3.3% in 2024, driven by revived tourism and a pickup in hydropower exports.', 'content' => '<p><span style="font-size:18px">April 2: The World Bank (WB) has projected Nepal’s economy to grow by 3.3% in 2024, driven by revived tourism and a pickup in hydropower exports. On the demand side, private consumption will drive growth, supported by a substantial increase in remittance inflows, according to the World Bank’s twice-a-year country development update.</span></p> <p><span style="font-size:18px">In its latest Nepal Development Update, the WB stated that the country's economy is on a recovery path, but private investment remains low while projecting a further rebound in growth of 4.6% in FY25. </span></p> <p><span style="font-size:18px">However, the forecast is subject to multiple risks, including a growth slowdown in partner countries, notably India, the Gulf countries, and Malaysia which could lead to a drop in remittances and tourism. </span></p> <p><span style="font-size:18px">Further business environment reforms aimed at attracting more private investment will be needed to support medium-term growth. </span></p> <p><span style="font-size:18px">“Strengthening the implementation of capital expenditure, boosting business confidence, and strengthening Nepal's international competitiveness are key to stimulating economic growth and reducing poverty,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. </span></p> <p><span style="font-size:18px">The Nepal Development Update is prepared in parallel with the South Asia Development Update, a twice-a-year World Bank report that examines economic developments and prospects in the South Asia region and analyzes policy challenges countries face. </span></p> <p><span style="font-size:18px">The April 2024 edition titled Jobs for Resilience shows growth in South Asia is again higher than any other emerging markets and developing country region in the world, projected at 6% in 2024 and 6.1% in 2025. But this strong outlook is deceptive, says the report. </span></p> <p><span style="font-size:18px">For most countries, growth is still below pre-pandemic levels and is reliant on public spending. At the same time, private investment growth has slowed sharply in all South Asian countries, and the region is not creating enough jobs to keep pace with its rapidly increasing working-age population. </span></p> <p><span style="font-size:18px">“South Asia is failing right now to fully capitalize on its demographic dividend. This is a missed opportunity,” said Franziska Ohnsorge, World Bank’s Chief Economist for South Asia. “If the region employed as large a share of the working-age population as other emerging markets and developing economies, its output could be 16% higher.” </span></p> <p><span style="font-size:18px">The South Asia Development Update recommends a range of policies to spur firm growth and boost employment, including increasing trade openness, improving business climates and institutions, removing financial sector restrictions, improving education, and strengthening legal protection of women’s rights. And these measures would also help lift employment growth and boost productivity, and free up space for public investments in climate adaptation. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20355', 'image' => '20240402024211_World.jpg', 'article_date' => '2024-04-02 14:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20627', 'article_category_id' => '1', 'title' => 'Arrival of Tourists up by 33.78 Percent in First Quarter of 2024', 'sub_title' => '', 'summary' => 'April 2: The number of tourists arriving in Nepal by air route has increased by 33.78 percent in the first three months of 2024.', 'content' => '<p><span style="font-size:18px">April 2: The number of tourists arriving in Nepal by air route has increased by 33.78 percent in the first three months of 2024. According to the data published by the Nepal Tourism Board on Monday, 304,693 foreign tourists have arrived in Nepal from January to March in 2024. This number was 227,755 in the corresponding period of 2023. </span></p> <p><span style="font-size:18px">The Tourism Board’s data shows an improvement in arrival of tourist since the beginning of 2024. This year, the tourist arrival in March was 28.9 percent more than last March. According to the board, 128,167 tourists arrived in Nepal by air this year in March. In March 2023, the number was 99,426. </span></p> <p><span style="font-size:18px">The board said that the overall tourist arrival has increased as most of the tourists who prefer trekking and mountain climbing in Nepal come in the spring season. Tourism entrepreneurs say that March and April are considered suitable seasons for mountain climbing and trekking, so the tourist arrival will increase further. </span></p> <p><span style="font-size:18px">Neelhari Bastola, president of Trekking Agencies Association of Nepal (TAN), said that arrival of tourists will increase this April as compared to last April. He says that the number of tourists arriving here for mountain climbing will increase as the next two months are favourable for climbimg mountains. Bastola added that the trekking business is increasing now. “There will be a slight pressure on the business as the number of tourists coming for trekking will increase for about one and a half months, but this situation will decrease gradually in the following months,'' he said. </span></p> <p><span style="font-size:18px">The Department of Tourism has already started issuing climbing permits to mountaineers for this season. As always, India leads the list of countries that send the most tourists in March. A total of 30,698 tourists from India arrived in Nepal in the review month. The number of Chinese tourists has also increased. In March, 12,093 tourists came from China. </span></p> <p><span style="font-size:18px">According to the board, the arrival of Indian tourists in March this year has increased by 18.5 percent compared to last March. Likewise, the arrival of Chinese tourists has increased by 358 percent compared to last March. </span></p> <p><span style="font-size:18px">Similarly, 10,763 tourists from America, 7,241 from Britain, 5,741 from Sri Lanka and 5,255 from Germany have arrived in Nepal followed by tourists from Thailand, Myanmar, France and Australia. </span></p> <p><span style="font-size:18px">Tourism entrepreneurs say that along with the improvement in arrival of tourists, emphasis should be placed on the improvement of tourism infrastructure. </span></p> <p><span style="font-size:18px">"There is still not enough infrastructure to increase the number of tourists," said Bastola adding that it is imperative for the government to make full use of the Gautam Buddha and Pokhara international airports and to expand the quality road network.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20354', 'image' => '20240402113422_20220704124518_tournba.jpg', 'article_date' => '2024-04-02 11:32:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20626', 'article_category_id' => '1', 'title' => 'Exploration of Petro Products in Dailekh to Gain Momentum with the Arrival of Equipment from China', 'sub_title' => '', 'summary' => 'April 2: The exploration of petroleum products in Dailekh is expected to gain momentum after the arrival of equipment for the first phase of exploration in the district. ', 'content' => '<p><span style="font-size:18px">April 2: The exploration of petroleum products in Dailekh is expected to gain momentum after the arrival of equipment for the first phase of exploration in the district. </span></p> <p><span style="font-size:18px">Five small containers loaded with such equipment arrived in the district from China under a government-to government agreement between Nepal and China. The equipment were shipped via Kolkata Port and entered Nepal through the Rupaidiya-Nepalgunj border. </span></p> <p><span style="font-size:18px">Government officials are expecting the exploration of petroleum products to be carried out round the clock with the arrival of the equipment. Big containers en route to the district from China have been stuck on the way due to narrow turning points along the Karnali and Mid-Hill highways. Efforts are underway to find a passage for those containers. </span></p> <p><span style="font-size:18px">Around 150 containers have reportedly left Rupaidiya checkpoint in India for Dailekh carrying the exploration tools. The fixing of equipment that have already arrived is currently underway.</span></p> <p><span style="font-size:18px">Chief District Officer of Dailekh Khimraj Bhusal regularly monitors the site. He said that the works of exploring the petroleum products have been expedited. He added that the government has initiated the process to address the demands of locals to provide jobs and financial support for the households affected by the project.</span></p> <p><span style="font-size:18px">Dailekh Chamber of Commerce and Industry President Kul Bahadur Gurung said that the project is being implemented as per the G2G agreement between Nepal and China and it is expected to open up new avenues for Nepal's prosperity if turns successful. The drilling for the exploration will go up to four kilometers beneath the earth. </span></p> <p><span style="font-size:18px">The drilling is expected to determine the quantity of petroleum products and gas storage. It will also determine the next course of action, Project Chief Dinesh Kumar Napit said. </span></p> <p><span style="font-size:18px">The government has acquired 45 ropanis of land (one ropani is equivalent to 5476 sq. ft.) at Bhirkhet of Bhairabhi rural municipality-1 for the final survey and the land owners have already been provided with compensation. Twenty seven families received the compensation for the acquired land at the rate of Rs 175,000 per ropani. This survey is said to be significant in determining the volume of raw petroleum products and gas available in the area. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20353', 'image' => '20240402112051_20240122023324_explore.jpg', 'article_date' => '2024-04-02 11:18:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20625', 'article_category_id' => '1', 'title' => 'Banks have Investable Capital of Rs 650 Billion ', 'sub_title' => '', 'summary' => 'April 2: Banks and financial institutions (BFIs) have around Rs 650 billion investable capital. ', 'content' => '<p><span style="font-size:18px">April 2: Banks and financial institutions (BFIs) have around Rs 650 billion investable capital. There is excess of liquidity in the banking system due to less credit flow compared to deposit collection. </span></p> <p><span style="font-size:18px">According to Nepal Rastra Bank (NRB), the total deposits of banks and financial institutions have exceeded Rs 6200 billion as of Saturday. This is the highest deposit ever collected by the BFIs. The deposits of commercial banks alone have reached Rs 5487 billion while that of development banks and finance companies have reached Rs 713 billion. </span></p> <p><span style="font-size:18px">Likewise, the loan disbursement of BFIs has reached Rs 5084 billion as of Saturday. Out of this amount, commercial banks have provided loans of Rs 4498 billion and development banks and finance companies have provided loans of Rs 586 billion, according to Nepal Rastra Bank. </span></p> <p><span style="font-size:18px">In the current fiscal year (FY), bank deposits have increased by Rs 420 billion, while the credit flow has increased by Rs 204 billion. </span></p> <p><span style="font-size:18px">With the increase in the liquidity in the banks, the average credit-deposit ratio (CD ratio) of the banks fell to 79.61 percent on Saturday. </span></p> <p><span style="font-size:18px">According to the provision that banks are allowed to provide loans by maintaining a CD ratio of up to 90 percent, banks have the capacity to provide loans of more than Rs 644 billion. </span></p> <p><span style="font-size:18px">Deputy Information Officer of Nepal Rastra Bank Dr Bhagwat Acharya said that deposits in banks are increasing due to good remittance flow. "There is excess liquidity due to lack of demand for loans amid economic slowdown," he said. He said that the central bank is trying to manage the excess liquidity through facilities such as deposit collection tools. </span></p> <p><span style="font-size:18px">Along with the increase in liquidity in the banks, the central bank has eased the monetary policy by making it flexible and has also reduced the interest rate. Accordingly, the banks have also reduced the interest rates. However, loan disbursement has not been able to increase. </span></p> <p><span style="font-size:18px">Sunil KC, president of Nepal Bankers Association, says that there is no possibility of immediate loan disbursement until the economic activities become vibrant. </span></p> <p><span style="font-size:18px">Due to excess liquidity in banks, the interbank interest rate has also fallen below the target limit. The daily average interest rate of interbank transactions on Saturday remained at 2.63 percent. </span></p> <p><span style="font-size:18px">The central bank has been regularly withdrawing funds from the market through standing deposit facilities as well as deposit collection tools. The NRB has been regularly issuing standing deposit facility every Sunday and Wednesday since February. As of Sunday, the banks have taken Rs 825 billion in fixed deposit facility. On Sunday alone, they deposited Rs 65.70 billion with the Nepal Rastra Bank. Banks get 3 percent interest under the standing deposit facility.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20352', 'image' => '20240402110428_Banks - Copy.jpg', 'article_date' => '2024-04-02 11:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20624', 'article_category_id' => '1', 'title' => 'US Delegation to Attend Investment Summit ', 'sub_title' => '', 'summary' => 'April 2: A delegation of the US Chamber of Commerce delegation is all set to attend the upcoming Investment Summit to be held in Nepal on April 28-29. ', 'content' => '<p><span style="font-size:18px">April 2: A delegation of the US Chamber of Commerce delegation is all set to attend the upcoming Investment Summit to be held in Nepal on April 28-29. </span></p> <p><span style="font-size:18px">US Ambassador to Nepal, Dean Thompson, apprised Minister for Finance Barshaman Pun of the participation of the US delegation in a meeting at the Ministry of Finance on Monday. </span></p> <p><span style="font-size:18px">During the meeting, they discussed various issues of mutual interests including timely completion of the projects that are being run in Nepal with support of the U.S. The American envoy pledged support to make the Investment Summit a success, according to Minister Pun's Secretariat. </span></p> <p><span style="font-size:18px">Informing that preparations were afoot to organize the summit successfully, Minister Pun shared that the government has initiated the process for legal and procedural reforms to create investment-friendly environment in the country.</span></p> <p><span style="font-size:18px">"As a favorable investment climate is being enabled in Nepal, we are anticipating for the participation of more American investors," Minister Pun told the US Ambassador. </span></p> <p><span style="font-size:18px">According to Minister Pun, works related to the Sovereign Credit Rating, a measurement of the government's ability to repay its debts, had been taken forward to improve investment environment in Nepal. The government of Nepal has taken forward the process of rating Nepal's credit rating through international credit rating organization named Fitch Ratings. </span></p> <p><span style="font-size:18px">Similarly, Minister Pun shared that the possibility of Nepal being blacklisted by the Financial Action Taskforce has been eliminated as the bill related to Anti Money Laundering and Business Environment Promotion has been endorsed by the both Houses of the parliament. The Bill that amended provisions of 19 different laws related to money laundering, is currently in the process of authentication by the president. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20351', 'image' => '20240402101241_NepalInvestmentSummit_20240309072431.jpg', 'article_date' => '2024-04-02 10:11:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20623', 'article_category_id' => '1', 'title' => 'House Panel Seeks 'Convincing Reply' from NAC on Irregularities in Narrow Body Plane Repair ', 'sub_title' => '', 'summary' => 'April 1: The International Relations and Tourism Committee under the House of Representatives has directed the Nepal Airlines Corporation (NAC) to provide it with documents concerning the maintenance of a narrow-body aircraft within the next 15 days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: The International Relations and Tourism Committee under the House of Representatives has directed the Nepal Airlines Corporation (NAC) to provide it with documents concerning the maintenance of a narrow-body aircraft within the next 15 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Committee held in Singha Durbar on Monday instructed the national flag-carrier to submit a convincing reply regarding the aircraft repair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Committee President Raj Kishore Yadav said the committee received complaints about alleged corruption during the repair of the aircraft's engine. In this context, the NAC should convince the committee with a substantive reply that there was no corruption during the maintenance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NAC sent its narrow body aircraft to Israel on January 11 for repair. The plane was grounded on December 1, 2023. According to the NAC, Israel-based MRO Company had assured that the plane will arrive in Kathmandu by April 28 but to no avail. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, lawmakers expressed their concern stating that it has been over four months since the aircraft was sent for engine repair and a delay in its arrival has affected the NAC flight schedule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They demanded the formation of a separate committee to probe the matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers Bhim Prasad Acharya, Sunita Baral, Shishir Khanal, Damodar Paudel Bairagi, Uday Shamsher JB Rana, Prem Suwal, Eknath Dhakal, Yogesh Gauchan Thakali and Dr Dhawal Shamsher JB Rana advised the NAC to prepare an action plan for its restructuring, to control irregularities reported inside the NAC and make its service swift and effective. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that disputes between the NAC and Civil Aviation Authority of Nepal (CAAN) have negatively affected the aviation and the entire tourism industry, he urged effective cooperation and collaboration between the two institutes to make a ground from removing Nepal's airlines from the European Union (EU)'s blacklist and for enhancing the reliability of NAC’s services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture and Tourism and Civil Aviation, Hit Bahadur Tamang, assured of action if any wrongdoing is proved on the part of NAC. He said that he is studying the issue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAC executive chair Yubaraj Adhikari said the repair of the narrow body aircraft was done following the rules. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20350', 'image' => '20240401093556_20240118014315_naccccc.jpg', 'article_date' => '2024-04-01 21:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20622', 'article_category_id' => '1', 'title' => '63 Climbers Receive Permits to Scale Mt Everest for Spring Season this Year ', 'sub_title' => '', 'summary' => 'April 1: As many as 63 mountaineers have received permits to climb Mt Everest, the world's highest peak, for this year's spring season.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: As many as 63 mountaineers have received permits to climb Mt Everest, the world's highest peak, for this year's spring season. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, 13 women and 50 men from five different expedition teams took the permits as of Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section Officer of the Department, Chun Bahadur Tamang, said altogether 148 persons including 42 women have got their permits to climb different mountains including Mt Everest this season. By issuing permits, the government has collected a total of Rs 105.59 million in royalty so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement, the department said three expedition teams each have received the permits to climb Mt Amadablam, Mt Annapurna and Mt Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department stated that 478 persons had received permits to climb Mt Everest last year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20349', 'image' => '20240401075430_SubhasDarnal_KalapatharSolukhumbu_RSS_IMG_20240308_200422.jpg', 'article_date' => '2024-04-01 19:53:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20621', 'article_category_id' => '1', 'title' => 'Arrival of Foreign Tourists Increases by 28.9 Percent in March', 'sub_title' => '', 'summary' => 'April 1: The number of foreign tourists visiting Nepal in the month of March increased by 28.9 percent this year compared to the same period of last year.', 'content' => '<p><span style="font-size:18px">April 1: The number of foreign tourists visiting Nepal in the month of March increased by 28.9 percent this year compared to the same period of last year. According to the Nepal Tourist Board, the number of foreign tourists entering Nepal in the review month increased by 28,741 in March 2024 compared to a year ago. </span></p> <p><span style="font-size:18px">The data of the board shows that a total of 99,426 foreign tourists entered Nepal in March last year, while 128,167 tourists arrived here during the corresponding period this year. </span></p> <p><span style="font-size:18px">Most of the visitors arriving in Nepal were Indian tourists. A total of 30,698 tourists from India arrived in Nepal in the review month. The number of Chinese tourists stood at 12, 093. </span></p> <p><span style="font-size:18px">According to the board, 10,773 tourists from the USA visited Nepal in March followed by 7,241 tourists from Britain, 5,741 from Sri Lanka, 5,255 from Germany, 4,345 from Thailand, 3,024 from France and 3,013 from Myanmar. </span></p> <p><span style="font-size:18px">Region-wise, 40,727 tourists arrived in Nepal from South Asia, 28,648 from Asia, 27,582 from Europe, 4,780 from Oceania and 12,614 from Canada and America. </span></p> <p><span style="font-size:18px">The number of tourists visiting Nepal in January this year stood at 79,100 followed by 97,426 foreign tourists in February. In the first three months of 2023, a total of 227,755 foreign tourists had entered Nepal while the country has already welcomed 304,693 foreign tourists in the first three months of 2024, which is 33.78 percent more.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20348', 'image' => '20240401040119_SubasDarnal_SalleriSolukhumbu_RSS_14_IMG-20240312-WA0011.jpg', 'article_date' => '2024-04-01 15:59:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20620', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record, Climbs to an All-time High of Rs 131,600 per Tola', 'sub_title' => '', 'summary' => 'April 1: The price of gold has reached an all-time high on Monday with an increase of Rs 1,600 per tola (11.66 grams) in the domestic market.', 'content' => '<p><span style="font-size:18px">April 1: The price of gold has reached an all-time high on Monday with an increase of Rs 1,600 per tola (11.66 grams) in the domestic market. </span></p> <p><span style="font-size:18px">According to the Federation of Nepal Gold and Silver Dealers Association, fine gold is being traded at Rs 131,600 per tola on Monday against Rs 130,000 per tola on Sunday. </span></p> <p><span style="font-size:18px">On Friday, the price of gold had increased by Rs 2,100 per tola compared to the previous trading day to set a new record, only to be shattered three days later. On Thursday, the precious yellow metal was traded at Rs 127,900 per tola. </span></p> <p><span style="font-size:18px">Meanwhile, the price of silver increased by Rs 10 per tola to reach Rs 1,535 per tola on Monday, up from Rs 1,525 per tola the previous day. </span></p> <p><span style="font-size:18px">The price of gold has been rising steadily in the past few weeks. The federation fixes the price of gold and silver based on the price in the international market.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20347', 'image' => '20240401032631_20240329023658_gold newwww.jpg', 'article_date' => '2024-04-01 15:25:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20619', 'article_category_id' => '1', 'title' => 'UN Chief Calls for Global Action to Combat Waste Crisis ', 'sub_title' => '', 'summary' => 'April 1: UN Secretary-General Antonio Guterres on Saturday called for worldwide efforts to tackle the waste crisis. ', 'content' => '<p><span style="font-size:18px">April 1: UN Secretary-General Antonio Guterres on Saturday called for worldwide efforts to tackle the waste crisis. In a video message for the International Day of Zero Waste, which falls on March 30 annually, the UN chief highlighted the perilous state of the planet. </span></p> <p><span style="font-size:18px">"Our planet is drowning under a torrent of trash," Guterres said, painting a dire picture of the environmental degradation caused by humanity's overconsumption and waste production. </span></p> <p><span style="font-size:18px">With "more than 2 billion tons of municipal solid waste" produced every year, the consequences are devastating for the earth's climate, ecosystems and human health. He emphasized the urgency of addressing overconsumption, stating "overconsumption is killing us. </span></p> <p><span style="font-size:18px">Humanity needs an intervention." Guterres praised the efforts of the Advisory Board on Zero Waste for its role in uniting various stakeholders around the mission of achieving zero waste. To combat this crisis, the top UN official outlined a multifaceted approach.</span></p> <p><span style="font-size:18px">"Businesses must rethink their products to minimize wasteful packaging and maximize longevity and lifecycle," he said, urging a shift toward sustainable production practices. </span></p> <p><span style="font-size:18px">Consumers are also called upon to "think twice about the goods and products they purchase, and recycle or reuse wherever possible." Guterres underscored the importance of government action in fostering circular economies that prioritize "reuse, remanufacturing, recovery, and waste prevention." He pointed out the need for modern waste-management programs that can significantly mitigate the impacts of resource depletion. </span></p> <p><span style="font-size:18px">"On this Zero Waste Day, let's pledge to end the destructive cycle of waste, once and for all," said Guterres, urging global citizens to commit to sustainable practices that protect the planet for future generations. </span></p> <p><span style="font-size:18px">On Dec. 14, 2022, the United Nations General Assembly adopted a resolution at its 77th session to proclaim March 30 as International Day of Zero Waste to be observed annually. – Xinhua/RSS</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20346', 'image' => '20240401024435_20231029095344_Antonio_Guterres_CC_U.S. Mission Photo-Eric Bridiers.jpg', 'article_date' => '2024-04-01 14:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20618', 'article_category_id' => '1', 'title' => 'Parliamentary Hearing Process of Proposed Auditor General Begins ', 'sub_title' => '', 'summary' => 'April 1: The Parliamentary Hearings Committee has initiated the process of hearing of the proposed Auditor General Toyam Raya from Monday. ', 'content' => '<p><span style="font-size:18px">April 1: The Parliamentary Hearings Committee has initiated the process of hearing of the proposed Auditor General Toyam Raya from Monday. </span></p> <p><span style="font-size:18px">The Secretary-General of the Federal Parliament, Padma Prasad Pandey informed that a meeting of the Parliamentary Hearings Committee on Monday decided to issue a notice to the general public to submit any complaints related to Raya to the committee within 10 days. </span></p> <p><span style="font-size:18px">The meeting of the Constitutional Council on Sunday decided to recommend Raya, the Chief Statistics Officer of the National Statistics Office, for the post of Auditor General. </span></p> <p><span style="font-size:18px">The post of Auditor General has remained vacant for around ten months ever since the then Auditor General Tankamani Sharma Dangal retired after completing his term on May 22 last year. </span></p> <p><span style="font-size:18px">The Office of the Auditor General has been running under the acting auditor since then. After Sharma's retirement, the then Deputy Auditor General Rammaya Kunwar was given the responsibility of Acting Auditor General for one and a half months. After Kunwar went on compulsory retirement on August 7, Maheshwar Kafle got the responsibility. </span></p> <p><span style="font-size:18px">Bamdev Sharma was given the responsibility of Acting Auditor General after Kafle went on mandatory retirement due to the age limit in late January. According to the constitutional provisions, the term of the Auditor General is 6 years. Political parties try to appoint someone close to them as the Auditor General who can fulfill their agenda. </span></p> <p><span style="font-size:18px">As the ruling parties wait for the right moment to appoint the Auditor General, the financial discipline of the government is getting worse. The Office of the Auditor General audits all federal and state government offices including the Office of the President and Vice President, Supreme Court, Federal Parliament, Provincial Assembly, Provincial Government, Local Level, Constitutional Bodies and Offices, Courts, Attorney General's Office, Nepal Army, Nepal Police and Armed Police Force. The purpose of the audit is to protect the public resources of the country.</span></p> <p><span style="font-size:18px">The Office of the Auditor General also gives necessary suggestions and recommendations based on the effectiveness of government income and expenditure. The office submits and publishes the annual report of all government agencies to the President. The Office of the Auditor General has the right to see the accounting documents at any time to audit various agencies of the Central and State Governments. However, the lack of leadership has made the Office of the Auditor General weak in its role. </span></p> <p><span style="font-size:18px">The Constitutional Council recommended Raya from among fifteen candidates who had applied for the coveted post after the council invited applications for the office bearers of various constitutional bodies including the vacant Auditor General during the beginning of the current fiscal year. </span></p> <p><span style="font-size:18px">Other candidates who were in the fray for the post of Auditor General were former Acting Auditor General Kunwar and recently appointed Acting Auditor General, Bamdev Sharma, Deputy Auditor General Baikuntha Bahadur Adhikari and Chandrakant Bhandari as well as former secretaries Gopinath Mainali, Ramprasad Thapalia, Hari Basyal, Ram Sharan Pudasaini, Shankar Kharel, and Shishir Kumar Dhungana. Similarly, chartered accountants Subodh Karna and Hari Silwal had also applied for the position.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20345', 'image' => '20240401014548_Parliament.jpg', 'article_date' => '2024-04-01 13:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20617', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petrol by Rs 4 Per Liter', 'sub_title' => '', 'summary' => 'April 1: Nepal Oil Corporation (NOC) has increased the price of petrol by Rs 4 per liter effective from Monday, April 1. ', 'content' => '<p><span style="font-size:18px">April 1: Nepal Oil Corporation (NOC) has increased the price of petrol by Rs 4 per liter effective from Monday, April 1. With the price adjustment, the price of petrol has increased to Rs 175 per litre in the Kathmandu Valley, Pokhara, and Dipayal. </span></p> <p><span style="font-size:18px">Similarly, the price of petrol has been fixed at Rs 174 per litre in Surkhet and Dang, and Rs 172.50 per liter in Charaali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, and Birgunj. </span></p> <p><span style="font-size:18px">The state-owned NOC said that it increased the price of petrol based on new purchase price provided by the Indian Oil Corporation (IOC), the sole supplier of petroleum products to Nepal. </span></p> <p><span style="font-size:18px">Issuing a statement on Sunday, the NOC said that the IOC increased the price of petrol by Rs 4.76 per liter. The IOC has lowered the price of diesel and kerosene by Rs 0.39 per litre and that of LP gas by Rs 27.44 per cylinder. </span></p> <p><span style="font-size:18px">However, the NOC said that the prices of diesel, kerosene and cooking gas remains unchanged. The NOC argued that the price of cooking gas has not been changed as it still faces loss of Rs 296.15 in LP gas per cylinder.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20344', 'image' => '20240401101927_20210824101943_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2024-04-01 10:18:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20616', 'article_category_id' => '1', 'title' => 'High-level Committee on Tax System Reforms Recommends Amending Tax-Related Laws', 'sub_title' => '', 'summary' => 'April 1: A High-level Recommendation Committee on Tax System Reforms has recommended the government to reform tax-related laws of the country as well as the revenue structure.', 'content' => '<p><span style="font-size:18px">April 1: A High-level Recommendation Committee on Tax System Reforms has recommended the government to reform tax-related laws of the country as well as the revenue structure. </span></p> <p><span style="font-size:18px">Submitting its report to Finance Minister Barsha Man Pun on Sunday, the committee headed by Former Finance Secretary Bidhyadhar Mallik stressed on reforms in overall tax administration. The government had made provision for constituting this committee in the budget statement for the fiscal year 2024/25. </span></p> <p><span style="font-size:18px">Accordingly, a meeting of the Council of Ministers on September 15, 2023 constituted the committee. Former secretary Laxman Aryal, professor at the Tribhuvan University, Central Department of Economics Dr Ram Prasad Gyawali and former administrator and customs expert Ram Prasad Dahal were the members of the committee.</span></p> <p><span style="font-size:18px">The committee prepared the 258-page report with 140 annexes in six months. Receiving the report, Finance Minister Pun expressed the government's commitment to implementing the suggestions pointed out by the report. He said the report has come at an appropriate time when the government has been struggling to meet the general expenses from the state coffers. He stressed the need to attract the domestic and foreign investors to bring in maximum investment into the country.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20343', 'image' => '20240401100252_20240331095040_20231213025358_tax.jpg', 'article_date' => '2024-04-01 10:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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It may be noted that the volume of trade through the air route is nominal between the two countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer at Mechi Customs Office, Ram Prasad Regmi, said Nepal has not been able to balance trade with Bangladesh any year since the fiscal year 2071/72 BS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Mechi customs office, goods worth Rs 2.59 billion were imported from Bangladesh in the eight months of the current fiscal year. In the same period, goods worth Rs 165.64 million were exported to Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the customs data, Nepal suffered trade deficit of Rs 5.18 billion with Bangladesh in the FY 2079/80, Rs 10.38 billion in the FY 2078/79, Rs 6.54 billion in the FY 2077/78, Rs 4.24 billion in the FY 2076/77, Rs 2.44 billion in the FY 2075/76 and Rs 2.44 billion in the FY 2075/76 and Rs 2.44 billion in the FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, there was a trade deficit of Rs 2.86 billion in FY 2073/74 and Rs 1.40 billion in FY 2071/72. --RSS</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20357', 'image' => '20240402065758_20240311122722_20240122013031_How-to-start-an-import-export-business.jpg', 'article_date' => '2024-04-02 18:57:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20629', 'article_category_id' => '1', 'title' => 'Leaders Lobbying to Include Plans of Vested Interest in Upcoming Budget', 'sub_title' => '', 'summary' => 'April 2: For the past few days, the mayor of Dharan sub-metropolitan city, Harak Sampang, has been lobbying to get a water supply project for Rai Nagar under the federal government's budget.', 'content' => '<p><span style="font-size:18px">April 2: For the past few days, the mayor of Dharan sub-metropolitan city, Harak Sampang, has been lobbying to get a water supply project for Rai Nagar under the federal government's budget. </span></p> <p><span style="font-size:18px">According to Finance Minister Barshman Pun's secretariat, Mayor Sampang has demanded a budget of around Rs 5 billion for the project which can supply water from Saptakoshi River in Chatara, which is about 15 kilometers away from Dharan. </span></p> <p><span style="font-size:18px">However, a senior official of the National Planning Commission said that the plan proposed by Mayor Sampang falls outside the budget system. "This project does not appear to have been entered in the National Project Bank either. </span></p> <p><span style="font-size:18px">As per the rules, such projects will not get any budget," a senior official who oversees the commission's project bank told New Business Age requesting anonymity. </span></p> <p><span style="font-size:18px">The National Planning Commission had recently issued guidelines on budget preparation to stop the trend of including projects of vested interest of politicians in the budget. </span></p> <p><span style="font-size:18px">According to the Financial Procedures and Fiscal Responsibility Regulations, all central agencies have to send the details of the annual budget and program and medium-term expenditure structure by themselves or through their subordinate offices or projects by compulsorily entering the details of the projects in the National Project Bank. </span></p> <p><span style="font-size:18px">The trend of the people's representative meeting the minister directly to put pressure for inclusion of plans still persists. </span></p> <p><span style="font-size:18px">When Sampang asked for a budget, Finance Minister Barshman Pun suggested him to follow the budget system. The Finance Minister's secretariat said that Minister Pun suggested Sampang to talk to the Ministry of Water Supply and Sanitation as the demand for water supply project should come from the relevant ministry.</span></p> <p><span style="font-size:18px">While the work of drafting the budget for the next fiscal year (FY) has started, Mayor Sampang has been openly pressuring the Minister for Finance as well as the Minister for Home Affairs and Minister for Industry to secure resources for the plans of his interest. </span></p> <p><span style="font-size:18px">Like the mayor of Dharan, other people's representatives have also stepped up their efforts in recent days to incorporate their desired plans in the budget. According to government officials, the plans proposed by many such people’s representatives are not in accordance with the rules. After the promulgation of the new constitution in 2072 BS, the three-tier government started announcing the budget. </span></p> <p><span style="font-size:18px">The leaders had openly announced that the authority of Singha Durbar had been delegated to the village. However, in practice, the tendency of seeking the central government’s help for even petty projects still persists. Even now, the party leaders and the people's representatives have not stopped visiting Singha Durbar to fulfill their plans with vested interest.</span></p> <p><span style="font-size:18px">Rastriya Swatantra Party (RSP)’s MP Hari Dhakal pointed out that there is a risk of repetition of the budget of the same nature due to pressure from the political party leaders and elected representatives. Stating that the discussions in the parliament regarding the principles and priorities of the upcoming year's budget have been completed, he said that a large number of leaders have been lobbying for incorporating their plans in the budget at a time when the NPC has been fixing the ceiling of budget. </span></p> <p><span style="font-size:18px">Uttar Kumar Khatri, joint secretary of the Ministry of Finance, says that it is not appropriate to put pressure for inclusion of schemes from outside the budget system as the government employees have been working from morning till late night to prepare the budget. Khatri insists that if any plans are to be incorporated in the budget, they should come through the relevant ministry. </span></p> <p><span style="font-size:18px">The Constitution of Nepal has a mandatory provision for the government to announce the budget on the fifteenth day of the second month of the Nepali calendar which falls on May 28 this year. </span></p> <p><span style="font-size:18px">The National Planning Commission has set a ceiling of Rs 1800 billion for the next year's budget. However, a highly-placed source at the Ministry of Finance said that the prime minister has instructed to start preparations to bring a budget of around Rs 2000 billion to revitalize the economy of the country. </span></p> <p><span style="font-size:18px">For the current fiscal year, the government had announced a budget of Rs 1751 billion. However, the government has not been able to implement the current fiscal year's budget effectively. So far, the government has failed to spend even 50 percent of the allocated budget. Similarly, even 30 percent of the development budget has not been spent. This has raised serious questions about the efficiency of the government.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20356', 'image' => '20240402044015_budget.jpg', 'article_date' => '2024-04-02 16:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20628', 'article_category_id' => '1', 'title' => 'WB Projects Nepal's Economic Growth to be 3.3 Percent in 2024', 'sub_title' => '', 'summary' => 'April 2: The World Bank (WB) has projected Nepal’s economy to grow by 3.3% in 2024, driven by revived tourism and a pickup in hydropower exports.', 'content' => '<p><span style="font-size:18px">April 2: The World Bank (WB) has projected Nepal’s economy to grow by 3.3% in 2024, driven by revived tourism and a pickup in hydropower exports. On the demand side, private consumption will drive growth, supported by a substantial increase in remittance inflows, according to the World Bank’s twice-a-year country development update.</span></p> <p><span style="font-size:18px">In its latest Nepal Development Update, the WB stated that the country's economy is on a recovery path, but private investment remains low while projecting a further rebound in growth of 4.6% in FY25. </span></p> <p><span style="font-size:18px">However, the forecast is subject to multiple risks, including a growth slowdown in partner countries, notably India, the Gulf countries, and Malaysia which could lead to a drop in remittances and tourism. </span></p> <p><span style="font-size:18px">Further business environment reforms aimed at attracting more private investment will be needed to support medium-term growth. </span></p> <p><span style="font-size:18px">“Strengthening the implementation of capital expenditure, boosting business confidence, and strengthening Nepal's international competitiveness are key to stimulating economic growth and reducing poverty,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. </span></p> <p><span style="font-size:18px">The Nepal Development Update is prepared in parallel with the South Asia Development Update, a twice-a-year World Bank report that examines economic developments and prospects in the South Asia region and analyzes policy challenges countries face. </span></p> <p><span style="font-size:18px">The April 2024 edition titled Jobs for Resilience shows growth in South Asia is again higher than any other emerging markets and developing country region in the world, projected at 6% in 2024 and 6.1% in 2025. But this strong outlook is deceptive, says the report. </span></p> <p><span style="font-size:18px">For most countries, growth is still below pre-pandemic levels and is reliant on public spending. At the same time, private investment growth has slowed sharply in all South Asian countries, and the region is not creating enough jobs to keep pace with its rapidly increasing working-age population. </span></p> <p><span style="font-size:18px">“South Asia is failing right now to fully capitalize on its demographic dividend. This is a missed opportunity,” said Franziska Ohnsorge, World Bank’s Chief Economist for South Asia. “If the region employed as large a share of the working-age population as other emerging markets and developing economies, its output could be 16% higher.” </span></p> <p><span style="font-size:18px">The South Asia Development Update recommends a range of policies to spur firm growth and boost employment, including increasing trade openness, improving business climates and institutions, removing financial sector restrictions, improving education, and strengthening legal protection of women’s rights. And these measures would also help lift employment growth and boost productivity, and free up space for public investments in climate adaptation. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20355', 'image' => '20240402024211_World.jpg', 'article_date' => '2024-04-02 14:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20627', 'article_category_id' => '1', 'title' => 'Arrival of Tourists up by 33.78 Percent in First Quarter of 2024', 'sub_title' => '', 'summary' => 'April 2: The number of tourists arriving in Nepal by air route has increased by 33.78 percent in the first three months of 2024.', 'content' => '<p><span style="font-size:18px">April 2: The number of tourists arriving in Nepal by air route has increased by 33.78 percent in the first three months of 2024. According to the data published by the Nepal Tourism Board on Monday, 304,693 foreign tourists have arrived in Nepal from January to March in 2024. This number was 227,755 in the corresponding period of 2023. </span></p> <p><span style="font-size:18px">The Tourism Board’s data shows an improvement in arrival of tourist since the beginning of 2024. This year, the tourist arrival in March was 28.9 percent more than last March. According to the board, 128,167 tourists arrived in Nepal by air this year in March. In March 2023, the number was 99,426. </span></p> <p><span style="font-size:18px">The board said that the overall tourist arrival has increased as most of the tourists who prefer trekking and mountain climbing in Nepal come in the spring season. Tourism entrepreneurs say that March and April are considered suitable seasons for mountain climbing and trekking, so the tourist arrival will increase further. </span></p> <p><span style="font-size:18px">Neelhari Bastola, president of Trekking Agencies Association of Nepal (TAN), said that arrival of tourists will increase this April as compared to last April. He says that the number of tourists arriving here for mountain climbing will increase as the next two months are favourable for climbimg mountains. Bastola added that the trekking business is increasing now. “There will be a slight pressure on the business as the number of tourists coming for trekking will increase for about one and a half months, but this situation will decrease gradually in the following months,'' he said. </span></p> <p><span style="font-size:18px">The Department of Tourism has already started issuing climbing permits to mountaineers for this season. As always, India leads the list of countries that send the most tourists in March. A total of 30,698 tourists from India arrived in Nepal in the review month. The number of Chinese tourists has also increased. In March, 12,093 tourists came from China. </span></p> <p><span style="font-size:18px">According to the board, the arrival of Indian tourists in March this year has increased by 18.5 percent compared to last March. Likewise, the arrival of Chinese tourists has increased by 358 percent compared to last March. </span></p> <p><span style="font-size:18px">Similarly, 10,763 tourists from America, 7,241 from Britain, 5,741 from Sri Lanka and 5,255 from Germany have arrived in Nepal followed by tourists from Thailand, Myanmar, France and Australia. </span></p> <p><span style="font-size:18px">Tourism entrepreneurs say that along with the improvement in arrival of tourists, emphasis should be placed on the improvement of tourism infrastructure. </span></p> <p><span style="font-size:18px">"There is still not enough infrastructure to increase the number of tourists," said Bastola adding that it is imperative for the government to make full use of the Gautam Buddha and Pokhara international airports and to expand the quality road network.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20354', 'image' => '20240402113422_20220704124518_tournba.jpg', 'article_date' => '2024-04-02 11:32:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20626', 'article_category_id' => '1', 'title' => 'Exploration of Petro Products in Dailekh to Gain Momentum with the Arrival of Equipment from China', 'sub_title' => '', 'summary' => 'April 2: The exploration of petroleum products in Dailekh is expected to gain momentum after the arrival of equipment for the first phase of exploration in the district. ', 'content' => '<p><span style="font-size:18px">April 2: The exploration of petroleum products in Dailekh is expected to gain momentum after the arrival of equipment for the first phase of exploration in the district. </span></p> <p><span style="font-size:18px">Five small containers loaded with such equipment arrived in the district from China under a government-to government agreement between Nepal and China. The equipment were shipped via Kolkata Port and entered Nepal through the Rupaidiya-Nepalgunj border. </span></p> <p><span style="font-size:18px">Government officials are expecting the exploration of petroleum products to be carried out round the clock with the arrival of the equipment. Big containers en route to the district from China have been stuck on the way due to narrow turning points along the Karnali and Mid-Hill highways. Efforts are underway to find a passage for those containers. </span></p> <p><span style="font-size:18px">Around 150 containers have reportedly left Rupaidiya checkpoint in India for Dailekh carrying the exploration tools. The fixing of equipment that have already arrived is currently underway.</span></p> <p><span style="font-size:18px">Chief District Officer of Dailekh Khimraj Bhusal regularly monitors the site. He said that the works of exploring the petroleum products have been expedited. He added that the government has initiated the process to address the demands of locals to provide jobs and financial support for the households affected by the project.</span></p> <p><span style="font-size:18px">Dailekh Chamber of Commerce and Industry President Kul Bahadur Gurung said that the project is being implemented as per the G2G agreement between Nepal and China and it is expected to open up new avenues for Nepal's prosperity if turns successful. The drilling for the exploration will go up to four kilometers beneath the earth. </span></p> <p><span style="font-size:18px">The drilling is expected to determine the quantity of petroleum products and gas storage. It will also determine the next course of action, Project Chief Dinesh Kumar Napit said. </span></p> <p><span style="font-size:18px">The government has acquired 45 ropanis of land (one ropani is equivalent to 5476 sq. ft.) at Bhirkhet of Bhairabhi rural municipality-1 for the final survey and the land owners have already been provided with compensation. Twenty seven families received the compensation for the acquired land at the rate of Rs 175,000 per ropani. This survey is said to be significant in determining the volume of raw petroleum products and gas available in the area. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20353', 'image' => '20240402112051_20240122023324_explore.jpg', 'article_date' => '2024-04-02 11:18:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20625', 'article_category_id' => '1', 'title' => 'Banks have Investable Capital of Rs 650 Billion ', 'sub_title' => '', 'summary' => 'April 2: Banks and financial institutions (BFIs) have around Rs 650 billion investable capital. ', 'content' => '<p><span style="font-size:18px">April 2: Banks and financial institutions (BFIs) have around Rs 650 billion investable capital. There is excess of liquidity in the banking system due to less credit flow compared to deposit collection. </span></p> <p><span style="font-size:18px">According to Nepal Rastra Bank (NRB), the total deposits of banks and financial institutions have exceeded Rs 6200 billion as of Saturday. This is the highest deposit ever collected by the BFIs. The deposits of commercial banks alone have reached Rs 5487 billion while that of development banks and finance companies have reached Rs 713 billion. </span></p> <p><span style="font-size:18px">Likewise, the loan disbursement of BFIs has reached Rs 5084 billion as of Saturday. Out of this amount, commercial banks have provided loans of Rs 4498 billion and development banks and finance companies have provided loans of Rs 586 billion, according to Nepal Rastra Bank. </span></p> <p><span style="font-size:18px">In the current fiscal year (FY), bank deposits have increased by Rs 420 billion, while the credit flow has increased by Rs 204 billion. </span></p> <p><span style="font-size:18px">With the increase in the liquidity in the banks, the average credit-deposit ratio (CD ratio) of the banks fell to 79.61 percent on Saturday. </span></p> <p><span style="font-size:18px">According to the provision that banks are allowed to provide loans by maintaining a CD ratio of up to 90 percent, banks have the capacity to provide loans of more than Rs 644 billion. </span></p> <p><span style="font-size:18px">Deputy Information Officer of Nepal Rastra Bank Dr Bhagwat Acharya said that deposits in banks are increasing due to good remittance flow. "There is excess liquidity due to lack of demand for loans amid economic slowdown," he said. He said that the central bank is trying to manage the excess liquidity through facilities such as deposit collection tools. </span></p> <p><span style="font-size:18px">Along with the increase in liquidity in the banks, the central bank has eased the monetary policy by making it flexible and has also reduced the interest rate. Accordingly, the banks have also reduced the interest rates. However, loan disbursement has not been able to increase. </span></p> <p><span style="font-size:18px">Sunil KC, president of Nepal Bankers Association, says that there is no possibility of immediate loan disbursement until the economic activities become vibrant. </span></p> <p><span style="font-size:18px">Due to excess liquidity in banks, the interbank interest rate has also fallen below the target limit. The daily average interest rate of interbank transactions on Saturday remained at 2.63 percent. </span></p> <p><span style="font-size:18px">The central bank has been regularly withdrawing funds from the market through standing deposit facilities as well as deposit collection tools. The NRB has been regularly issuing standing deposit facility every Sunday and Wednesday since February. As of Sunday, the banks have taken Rs 825 billion in fixed deposit facility. On Sunday alone, they deposited Rs 65.70 billion with the Nepal Rastra Bank. Banks get 3 percent interest under the standing deposit facility.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20352', 'image' => '20240402110428_Banks - Copy.jpg', 'article_date' => '2024-04-02 11:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20624', 'article_category_id' => '1', 'title' => 'US Delegation to Attend Investment Summit ', 'sub_title' => '', 'summary' => 'April 2: A delegation of the US Chamber of Commerce delegation is all set to attend the upcoming Investment Summit to be held in Nepal on April 28-29. ', 'content' => '<p><span style="font-size:18px">April 2: A delegation of the US Chamber of Commerce delegation is all set to attend the upcoming Investment Summit to be held in Nepal on April 28-29. </span></p> <p><span style="font-size:18px">US Ambassador to Nepal, Dean Thompson, apprised Minister for Finance Barshaman Pun of the participation of the US delegation in a meeting at the Ministry of Finance on Monday. </span></p> <p><span style="font-size:18px">During the meeting, they discussed various issues of mutual interests including timely completion of the projects that are being run in Nepal with support of the U.S. The American envoy pledged support to make the Investment Summit a success, according to Minister Pun's Secretariat. </span></p> <p><span style="font-size:18px">Informing that preparations were afoot to organize the summit successfully, Minister Pun shared that the government has initiated the process for legal and procedural reforms to create investment-friendly environment in the country.</span></p> <p><span style="font-size:18px">"As a favorable investment climate is being enabled in Nepal, we are anticipating for the participation of more American investors," Minister Pun told the US Ambassador. </span></p> <p><span style="font-size:18px">According to Minister Pun, works related to the Sovereign Credit Rating, a measurement of the government's ability to repay its debts, had been taken forward to improve investment environment in Nepal. The government of Nepal has taken forward the process of rating Nepal's credit rating through international credit rating organization named Fitch Ratings. </span></p> <p><span style="font-size:18px">Similarly, Minister Pun shared that the possibility of Nepal being blacklisted by the Financial Action Taskforce has been eliminated as the bill related to Anti Money Laundering and Business Environment Promotion has been endorsed by the both Houses of the parliament. The Bill that amended provisions of 19 different laws related to money laundering, is currently in the process of authentication by the president. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20351', 'image' => '20240402101241_NepalInvestmentSummit_20240309072431.jpg', 'article_date' => '2024-04-02 10:11:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20623', 'article_category_id' => '1', 'title' => 'House Panel Seeks 'Convincing Reply' from NAC on Irregularities in Narrow Body Plane Repair ', 'sub_title' => '', 'summary' => 'April 1: The International Relations and Tourism Committee under the House of Representatives has directed the Nepal Airlines Corporation (NAC) to provide it with documents concerning the maintenance of a narrow-body aircraft within the next 15 days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: The International Relations and Tourism Committee under the House of Representatives has directed the Nepal Airlines Corporation (NAC) to provide it with documents concerning the maintenance of a narrow-body aircraft within the next 15 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Committee held in Singha Durbar on Monday instructed the national flag-carrier to submit a convincing reply regarding the aircraft repair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Committee President Raj Kishore Yadav said the committee received complaints about alleged corruption during the repair of the aircraft's engine. In this context, the NAC should convince the committee with a substantive reply that there was no corruption during the maintenance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NAC sent its narrow body aircraft to Israel on January 11 for repair. The plane was grounded on December 1, 2023. According to the NAC, Israel-based MRO Company had assured that the plane will arrive in Kathmandu by April 28 but to no avail. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, lawmakers expressed their concern stating that it has been over four months since the aircraft was sent for engine repair and a delay in its arrival has affected the NAC flight schedule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They demanded the formation of a separate committee to probe the matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers Bhim Prasad Acharya, Sunita Baral, Shishir Khanal, Damodar Paudel Bairagi, Uday Shamsher JB Rana, Prem Suwal, Eknath Dhakal, Yogesh Gauchan Thakali and Dr Dhawal Shamsher JB Rana advised the NAC to prepare an action plan for its restructuring, to control irregularities reported inside the NAC and make its service swift and effective. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that disputes between the NAC and Civil Aviation Authority of Nepal (CAAN) have negatively affected the aviation and the entire tourism industry, he urged effective cooperation and collaboration between the two institutes to make a ground from removing Nepal's airlines from the European Union (EU)'s blacklist and for enhancing the reliability of NAC’s services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture and Tourism and Civil Aviation, Hit Bahadur Tamang, assured of action if any wrongdoing is proved on the part of NAC. He said that he is studying the issue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAC executive chair Yubaraj Adhikari said the repair of the narrow body aircraft was done following the rules. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20350', 'image' => '20240401093556_20240118014315_naccccc.jpg', 'article_date' => '2024-04-01 21:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20622', 'article_category_id' => '1', 'title' => '63 Climbers Receive Permits to Scale Mt Everest for Spring Season this Year ', 'sub_title' => '', 'summary' => 'April 1: As many as 63 mountaineers have received permits to climb Mt Everest, the world's highest peak, for this year's spring season.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: As many as 63 mountaineers have received permits to climb Mt Everest, the world's highest peak, for this year's spring season. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, 13 women and 50 men from five different expedition teams took the permits as of Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section Officer of the Department, Chun Bahadur Tamang, said altogether 148 persons including 42 women have got their permits to climb different mountains including Mt Everest this season. By issuing permits, the government has collected a total of Rs 105.59 million in royalty so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement, the department said three expedition teams each have received the permits to climb Mt Amadablam, Mt Annapurna and Mt Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department stated that 478 persons had received permits to climb Mt Everest last year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20349', 'image' => '20240401075430_SubhasDarnal_KalapatharSolukhumbu_RSS_IMG_20240308_200422.jpg', 'article_date' => '2024-04-01 19:53:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20621', 'article_category_id' => '1', 'title' => 'Arrival of Foreign Tourists Increases by 28.9 Percent in March', 'sub_title' => '', 'summary' => 'April 1: The number of foreign tourists visiting Nepal in the month of March increased by 28.9 percent this year compared to the same period of last year.', 'content' => '<p><span style="font-size:18px">April 1: The number of foreign tourists visiting Nepal in the month of March increased by 28.9 percent this year compared to the same period of last year. According to the Nepal Tourist Board, the number of foreign tourists entering Nepal in the review month increased by 28,741 in March 2024 compared to a year ago. </span></p> <p><span style="font-size:18px">The data of the board shows that a total of 99,426 foreign tourists entered Nepal in March last year, while 128,167 tourists arrived here during the corresponding period this year. </span></p> <p><span style="font-size:18px">Most of the visitors arriving in Nepal were Indian tourists. A total of 30,698 tourists from India arrived in Nepal in the review month. The number of Chinese tourists stood at 12, 093. </span></p> <p><span style="font-size:18px">According to the board, 10,773 tourists from the USA visited Nepal in March followed by 7,241 tourists from Britain, 5,741 from Sri Lanka, 5,255 from Germany, 4,345 from Thailand, 3,024 from France and 3,013 from Myanmar. </span></p> <p><span style="font-size:18px">Region-wise, 40,727 tourists arrived in Nepal from South Asia, 28,648 from Asia, 27,582 from Europe, 4,780 from Oceania and 12,614 from Canada and America. </span></p> <p><span style="font-size:18px">The number of tourists visiting Nepal in January this year stood at 79,100 followed by 97,426 foreign tourists in February. In the first three months of 2023, a total of 227,755 foreign tourists had entered Nepal while the country has already welcomed 304,693 foreign tourists in the first three months of 2024, which is 33.78 percent more.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20348', 'image' => '20240401040119_SubasDarnal_SalleriSolukhumbu_RSS_14_IMG-20240312-WA0011.jpg', 'article_date' => '2024-04-01 15:59:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20620', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record, Climbs to an All-time High of Rs 131,600 per Tola', 'sub_title' => '', 'summary' => 'April 1: The price of gold has reached an all-time high on Monday with an increase of Rs 1,600 per tola (11.66 grams) in the domestic market.', 'content' => '<p><span style="font-size:18px">April 1: The price of gold has reached an all-time high on Monday with an increase of Rs 1,600 per tola (11.66 grams) in the domestic market. </span></p> <p><span style="font-size:18px">According to the Federation of Nepal Gold and Silver Dealers Association, fine gold is being traded at Rs 131,600 per tola on Monday against Rs 130,000 per tola on Sunday. </span></p> <p><span style="font-size:18px">On Friday, the price of gold had increased by Rs 2,100 per tola compared to the previous trading day to set a new record, only to be shattered three days later. On Thursday, the precious yellow metal was traded at Rs 127,900 per tola. </span></p> <p><span style="font-size:18px">Meanwhile, the price of silver increased by Rs 10 per tola to reach Rs 1,535 per tola on Monday, up from Rs 1,525 per tola the previous day. </span></p> <p><span style="font-size:18px">The price of gold has been rising steadily in the past few weeks. The federation fixes the price of gold and silver based on the price in the international market.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20347', 'image' => '20240401032631_20240329023658_gold newwww.jpg', 'article_date' => '2024-04-01 15:25:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20619', 'article_category_id' => '1', 'title' => 'UN Chief Calls for Global Action to Combat Waste Crisis ', 'sub_title' => '', 'summary' => 'April 1: UN Secretary-General Antonio Guterres on Saturday called for worldwide efforts to tackle the waste crisis. ', 'content' => '<p><span style="font-size:18px">April 1: UN Secretary-General Antonio Guterres on Saturday called for worldwide efforts to tackle the waste crisis. In a video message for the International Day of Zero Waste, which falls on March 30 annually, the UN chief highlighted the perilous state of the planet. </span></p> <p><span style="font-size:18px">"Our planet is drowning under a torrent of trash," Guterres said, painting a dire picture of the environmental degradation caused by humanity's overconsumption and waste production. </span></p> <p><span style="font-size:18px">With "more than 2 billion tons of municipal solid waste" produced every year, the consequences are devastating for the earth's climate, ecosystems and human health. He emphasized the urgency of addressing overconsumption, stating "overconsumption is killing us. </span></p> <p><span style="font-size:18px">Humanity needs an intervention." Guterres praised the efforts of the Advisory Board on Zero Waste for its role in uniting various stakeholders around the mission of achieving zero waste. To combat this crisis, the top UN official outlined a multifaceted approach.</span></p> <p><span style="font-size:18px">"Businesses must rethink their products to minimize wasteful packaging and maximize longevity and lifecycle," he said, urging a shift toward sustainable production practices. </span></p> <p><span style="font-size:18px">Consumers are also called upon to "think twice about the goods and products they purchase, and recycle or reuse wherever possible." Guterres underscored the importance of government action in fostering circular economies that prioritize "reuse, remanufacturing, recovery, and waste prevention." He pointed out the need for modern waste-management programs that can significantly mitigate the impacts of resource depletion. </span></p> <p><span style="font-size:18px">"On this Zero Waste Day, let's pledge to end the destructive cycle of waste, once and for all," said Guterres, urging global citizens to commit to sustainable practices that protect the planet for future generations. </span></p> <p><span style="font-size:18px">On Dec. 14, 2022, the United Nations General Assembly adopted a resolution at its 77th session to proclaim March 30 as International Day of Zero Waste to be observed annually. – Xinhua/RSS</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20346', 'image' => '20240401024435_20231029095344_Antonio_Guterres_CC_U.S. Mission Photo-Eric Bridiers.jpg', 'article_date' => '2024-04-01 14:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20618', 'article_category_id' => '1', 'title' => 'Parliamentary Hearing Process of Proposed Auditor General Begins ', 'sub_title' => '', 'summary' => 'April 1: The Parliamentary Hearings Committee has initiated the process of hearing of the proposed Auditor General Toyam Raya from Monday. ', 'content' => '<p><span style="font-size:18px">April 1: The Parliamentary Hearings Committee has initiated the process of hearing of the proposed Auditor General Toyam Raya from Monday. </span></p> <p><span style="font-size:18px">The Secretary-General of the Federal Parliament, Padma Prasad Pandey informed that a meeting of the Parliamentary Hearings Committee on Monday decided to issue a notice to the general public to submit any complaints related to Raya to the committee within 10 days. </span></p> <p><span style="font-size:18px">The meeting of the Constitutional Council on Sunday decided to recommend Raya, the Chief Statistics Officer of the National Statistics Office, for the post of Auditor General. </span></p> <p><span style="font-size:18px">The post of Auditor General has remained vacant for around ten months ever since the then Auditor General Tankamani Sharma Dangal retired after completing his term on May 22 last year. </span></p> <p><span style="font-size:18px">The Office of the Auditor General has been running under the acting auditor since then. After Sharma's retirement, the then Deputy Auditor General Rammaya Kunwar was given the responsibility of Acting Auditor General for one and a half months. After Kunwar went on compulsory retirement on August 7, Maheshwar Kafle got the responsibility. </span></p> <p><span style="font-size:18px">Bamdev Sharma was given the responsibility of Acting Auditor General after Kafle went on mandatory retirement due to the age limit in late January. According to the constitutional provisions, the term of the Auditor General is 6 years. Political parties try to appoint someone close to them as the Auditor General who can fulfill their agenda. </span></p> <p><span style="font-size:18px">As the ruling parties wait for the right moment to appoint the Auditor General, the financial discipline of the government is getting worse. The Office of the Auditor General audits all federal and state government offices including the Office of the President and Vice President, Supreme Court, Federal Parliament, Provincial Assembly, Provincial Government, Local Level, Constitutional Bodies and Offices, Courts, Attorney General's Office, Nepal Army, Nepal Police and Armed Police Force. The purpose of the audit is to protect the public resources of the country.</span></p> <p><span style="font-size:18px">The Office of the Auditor General also gives necessary suggestions and recommendations based on the effectiveness of government income and expenditure. The office submits and publishes the annual report of all government agencies to the President. The Office of the Auditor General has the right to see the accounting documents at any time to audit various agencies of the Central and State Governments. However, the lack of leadership has made the Office of the Auditor General weak in its role. </span></p> <p><span style="font-size:18px">The Constitutional Council recommended Raya from among fifteen candidates who had applied for the coveted post after the council invited applications for the office bearers of various constitutional bodies including the vacant Auditor General during the beginning of the current fiscal year. </span></p> <p><span style="font-size:18px">Other candidates who were in the fray for the post of Auditor General were former Acting Auditor General Kunwar and recently appointed Acting Auditor General, Bamdev Sharma, Deputy Auditor General Baikuntha Bahadur Adhikari and Chandrakant Bhandari as well as former secretaries Gopinath Mainali, Ramprasad Thapalia, Hari Basyal, Ram Sharan Pudasaini, Shankar Kharel, and Shishir Kumar Dhungana. Similarly, chartered accountants Subodh Karna and Hari Silwal had also applied for the position.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20345', 'image' => '20240401014548_Parliament.jpg', 'article_date' => '2024-04-01 13:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20617', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petrol by Rs 4 Per Liter', 'sub_title' => '', 'summary' => 'April 1: Nepal Oil Corporation (NOC) has increased the price of petrol by Rs 4 per liter effective from Monday, April 1. ', 'content' => '<p><span style="font-size:18px">April 1: Nepal Oil Corporation (NOC) has increased the price of petrol by Rs 4 per liter effective from Monday, April 1. With the price adjustment, the price of petrol has increased to Rs 175 per litre in the Kathmandu Valley, Pokhara, and Dipayal. </span></p> <p><span style="font-size:18px">Similarly, the price of petrol has been fixed at Rs 174 per litre in Surkhet and Dang, and Rs 172.50 per liter in Charaali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, and Birgunj. </span></p> <p><span style="font-size:18px">The state-owned NOC said that it increased the price of petrol based on new purchase price provided by the Indian Oil Corporation (IOC), the sole supplier of petroleum products to Nepal. </span></p> <p><span style="font-size:18px">Issuing a statement on Sunday, the NOC said that the IOC increased the price of petrol by Rs 4.76 per liter. The IOC has lowered the price of diesel and kerosene by Rs 0.39 per litre and that of LP gas by Rs 27.44 per cylinder. </span></p> <p><span style="font-size:18px">However, the NOC said that the prices of diesel, kerosene and cooking gas remains unchanged. The NOC argued that the price of cooking gas has not been changed as it still faces loss of Rs 296.15 in LP gas per cylinder.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20344', 'image' => '20240401101927_20210824101943_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2024-04-01 10:18:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20616', 'article_category_id' => '1', 'title' => 'High-level Committee on Tax System Reforms Recommends Amending Tax-Related Laws', 'sub_title' => '', 'summary' => 'April 1: A High-level Recommendation Committee on Tax System Reforms has recommended the government to reform tax-related laws of the country as well as the revenue structure.', 'content' => '<p><span style="font-size:18px">April 1: A High-level Recommendation Committee on Tax System Reforms has recommended the government to reform tax-related laws of the country as well as the revenue structure. </span></p> <p><span style="font-size:18px">Submitting its report to Finance Minister Barsha Man Pun on Sunday, the committee headed by Former Finance Secretary Bidhyadhar Mallik stressed on reforms in overall tax administration. The government had made provision for constituting this committee in the budget statement for the fiscal year 2024/25. </span></p> <p><span style="font-size:18px">Accordingly, a meeting of the Council of Ministers on September 15, 2023 constituted the committee. Former secretary Laxman Aryal, professor at the Tribhuvan University, Central Department of Economics Dr Ram Prasad Gyawali and former administrator and customs expert Ram Prasad Dahal were the members of the committee.</span></p> <p><span style="font-size:18px">The committee prepared the 258-page report with 140 annexes in six months. Receiving the report, Finance Minister Pun expressed the government's commitment to implementing the suggestions pointed out by the report. He said the report has come at an appropriate time when the government has been struggling to meet the general expenses from the state coffers. He stressed the need to attract the domestic and foreign investors to bring in maximum investment into the country.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20343', 'image' => '20240401100252_20240331095040_20231213025358_tax.jpg', 'article_date' => '2024-04-01 10:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20630', 'article_category_id' => '1', 'title' => 'Nepal Faces Trade Deficit with Bangladesh for Over a Decade', 'sub_title' => '', 'summary' => 'April 2: Nepal has been facing a trade deficit with Bangladesh for the past one decade.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">April 2: Nepal has been facing a trade deficit with Bangladesh for the past one decade.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Mechi Customs Office, the country recorded a trade deficit of around Rs 2.43 billion with Bangladesh in the first eight months of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The 52-km transit route from the eastern checkpoint at Kakadbhitta to Bangladesh's Banglabandha dry port via Fulbari, India has been used as the shortest and easiest route for trade between Nepal and Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Landlocked Nepal has access to the direct transit route in line with the trilateral agreement between Nepal, India and Bangladesh. It may be noted that the volume of trade through the air route is nominal between the two countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer at Mechi Customs Office, Ram Prasad Regmi, said Nepal has not been able to balance trade with Bangladesh any year since the fiscal year 2071/72 BS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Mechi customs office, goods worth Rs 2.59 billion were imported from Bangladesh in the eight months of the current fiscal year. In the same period, goods worth Rs 165.64 million were exported to Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the customs data, Nepal suffered trade deficit of Rs 5.18 billion with Bangladesh in the FY 2079/80, Rs 10.38 billion in the FY 2078/79, Rs 6.54 billion in the FY 2077/78, Rs 4.24 billion in the FY 2076/77, Rs 2.44 billion in the FY 2075/76 and Rs 2.44 billion in the FY 2075/76 and Rs 2.44 billion in the FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, there was a trade deficit of Rs 2.86 billion in FY 2073/74 and Rs 1.40 billion in FY 2071/72. --RSS</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20357', 'image' => '20240402065758_20240311122722_20240122013031_How-to-start-an-import-export-business.jpg', 'article_date' => '2024-04-02 18:57:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20629', 'article_category_id' => '1', 'title' => 'Leaders Lobbying to Include Plans of Vested Interest in Upcoming Budget', 'sub_title' => '', 'summary' => 'April 2: For the past few days, the mayor of Dharan sub-metropolitan city, Harak Sampang, has been lobbying to get a water supply project for Rai Nagar under the federal government's budget.', 'content' => '<p><span style="font-size:18px">April 2: For the past few days, the mayor of Dharan sub-metropolitan city, Harak Sampang, has been lobbying to get a water supply project for Rai Nagar under the federal government's budget. </span></p> <p><span style="font-size:18px">According to Finance Minister Barshman Pun's secretariat, Mayor Sampang has demanded a budget of around Rs 5 billion for the project which can supply water from Saptakoshi River in Chatara, which is about 15 kilometers away from Dharan. </span></p> <p><span style="font-size:18px">However, a senior official of the National Planning Commission said that the plan proposed by Mayor Sampang falls outside the budget system. "This project does not appear to have been entered in the National Project Bank either. </span></p> <p><span style="font-size:18px">As per the rules, such projects will not get any budget," a senior official who oversees the commission's project bank told New Business Age requesting anonymity. </span></p> <p><span style="font-size:18px">The National Planning Commission had recently issued guidelines on budget preparation to stop the trend of including projects of vested interest of politicians in the budget. </span></p> <p><span style="font-size:18px">According to the Financial Procedures and Fiscal Responsibility Regulations, all central agencies have to send the details of the annual budget and program and medium-term expenditure structure by themselves or through their subordinate offices or projects by compulsorily entering the details of the projects in the National Project Bank. </span></p> <p><span style="font-size:18px">The trend of the people's representative meeting the minister directly to put pressure for inclusion of plans still persists. </span></p> <p><span style="font-size:18px">When Sampang asked for a budget, Finance Minister Barshman Pun suggested him to follow the budget system. The Finance Minister's secretariat said that Minister Pun suggested Sampang to talk to the Ministry of Water Supply and Sanitation as the demand for water supply project should come from the relevant ministry.</span></p> <p><span style="font-size:18px">While the work of drafting the budget for the next fiscal year (FY) has started, Mayor Sampang has been openly pressuring the Minister for Finance as well as the Minister for Home Affairs and Minister for Industry to secure resources for the plans of his interest. </span></p> <p><span style="font-size:18px">Like the mayor of Dharan, other people's representatives have also stepped up their efforts in recent days to incorporate their desired plans in the budget. According to government officials, the plans proposed by many such people’s representatives are not in accordance with the rules. After the promulgation of the new constitution in 2072 BS, the three-tier government started announcing the budget. </span></p> <p><span style="font-size:18px">The leaders had openly announced that the authority of Singha Durbar had been delegated to the village. However, in practice, the tendency of seeking the central government’s help for even petty projects still persists. Even now, the party leaders and the people's representatives have not stopped visiting Singha Durbar to fulfill their plans with vested interest.</span></p> <p><span style="font-size:18px">Rastriya Swatantra Party (RSP)’s MP Hari Dhakal pointed out that there is a risk of repetition of the budget of the same nature due to pressure from the political party leaders and elected representatives. Stating that the discussions in the parliament regarding the principles and priorities of the upcoming year's budget have been completed, he said that a large number of leaders have been lobbying for incorporating their plans in the budget at a time when the NPC has been fixing the ceiling of budget. </span></p> <p><span style="font-size:18px">Uttar Kumar Khatri, joint secretary of the Ministry of Finance, says that it is not appropriate to put pressure for inclusion of schemes from outside the budget system as the government employees have been working from morning till late night to prepare the budget. Khatri insists that if any plans are to be incorporated in the budget, they should come through the relevant ministry. </span></p> <p><span style="font-size:18px">The Constitution of Nepal has a mandatory provision for the government to announce the budget on the fifteenth day of the second month of the Nepali calendar which falls on May 28 this year. </span></p> <p><span style="font-size:18px">The National Planning Commission has set a ceiling of Rs 1800 billion for the next year's budget. However, a highly-placed source at the Ministry of Finance said that the prime minister has instructed to start preparations to bring a budget of around Rs 2000 billion to revitalize the economy of the country. </span></p> <p><span style="font-size:18px">For the current fiscal year, the government had announced a budget of Rs 1751 billion. However, the government has not been able to implement the current fiscal year's budget effectively. So far, the government has failed to spend even 50 percent of the allocated budget. Similarly, even 30 percent of the development budget has not been spent. This has raised serious questions about the efficiency of the government.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20356', 'image' => '20240402044015_budget.jpg', 'article_date' => '2024-04-02 16:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20628', 'article_category_id' => '1', 'title' => 'WB Projects Nepal's Economic Growth to be 3.3 Percent in 2024', 'sub_title' => '', 'summary' => 'April 2: The World Bank (WB) has projected Nepal’s economy to grow by 3.3% in 2024, driven by revived tourism and a pickup in hydropower exports.', 'content' => '<p><span style="font-size:18px">April 2: The World Bank (WB) has projected Nepal’s economy to grow by 3.3% in 2024, driven by revived tourism and a pickup in hydropower exports. On the demand side, private consumption will drive growth, supported by a substantial increase in remittance inflows, according to the World Bank’s twice-a-year country development update.</span></p> <p><span style="font-size:18px">In its latest Nepal Development Update, the WB stated that the country's economy is on a recovery path, but private investment remains low while projecting a further rebound in growth of 4.6% in FY25. </span></p> <p><span style="font-size:18px">However, the forecast is subject to multiple risks, including a growth slowdown in partner countries, notably India, the Gulf countries, and Malaysia which could lead to a drop in remittances and tourism. </span></p> <p><span style="font-size:18px">Further business environment reforms aimed at attracting more private investment will be needed to support medium-term growth. </span></p> <p><span style="font-size:18px">“Strengthening the implementation of capital expenditure, boosting business confidence, and strengthening Nepal's international competitiveness are key to stimulating economic growth and reducing poverty,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. </span></p> <p><span style="font-size:18px">The Nepal Development Update is prepared in parallel with the South Asia Development Update, a twice-a-year World Bank report that examines economic developments and prospects in the South Asia region and analyzes policy challenges countries face. </span></p> <p><span style="font-size:18px">The April 2024 edition titled Jobs for Resilience shows growth in South Asia is again higher than any other emerging markets and developing country region in the world, projected at 6% in 2024 and 6.1% in 2025. But this strong outlook is deceptive, says the report. </span></p> <p><span style="font-size:18px">For most countries, growth is still below pre-pandemic levels and is reliant on public spending. At the same time, private investment growth has slowed sharply in all South Asian countries, and the region is not creating enough jobs to keep pace with its rapidly increasing working-age population. </span></p> <p><span style="font-size:18px">“South Asia is failing right now to fully capitalize on its demographic dividend. This is a missed opportunity,” said Franziska Ohnsorge, World Bank’s Chief Economist for South Asia. “If the region employed as large a share of the working-age population as other emerging markets and developing economies, its output could be 16% higher.” </span></p> <p><span style="font-size:18px">The South Asia Development Update recommends a range of policies to spur firm growth and boost employment, including increasing trade openness, improving business climates and institutions, removing financial sector restrictions, improving education, and strengthening legal protection of women’s rights. And these measures would also help lift employment growth and boost productivity, and free up space for public investments in climate adaptation. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20355', 'image' => '20240402024211_World.jpg', 'article_date' => '2024-04-02 14:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20627', 'article_category_id' => '1', 'title' => 'Arrival of Tourists up by 33.78 Percent in First Quarter of 2024', 'sub_title' => '', 'summary' => 'April 2: The number of tourists arriving in Nepal by air route has increased by 33.78 percent in the first three months of 2024.', 'content' => '<p><span style="font-size:18px">April 2: The number of tourists arriving in Nepal by air route has increased by 33.78 percent in the first three months of 2024. According to the data published by the Nepal Tourism Board on Monday, 304,693 foreign tourists have arrived in Nepal from January to March in 2024. This number was 227,755 in the corresponding period of 2023. </span></p> <p><span style="font-size:18px">The Tourism Board’s data shows an improvement in arrival of tourist since the beginning of 2024. This year, the tourist arrival in March was 28.9 percent more than last March. According to the board, 128,167 tourists arrived in Nepal by air this year in March. In March 2023, the number was 99,426. </span></p> <p><span style="font-size:18px">The board said that the overall tourist arrival has increased as most of the tourists who prefer trekking and mountain climbing in Nepal come in the spring season. Tourism entrepreneurs say that March and April are considered suitable seasons for mountain climbing and trekking, so the tourist arrival will increase further. </span></p> <p><span style="font-size:18px">Neelhari Bastola, president of Trekking Agencies Association of Nepal (TAN), said that arrival of tourists will increase this April as compared to last April. He says that the number of tourists arriving here for mountain climbing will increase as the next two months are favourable for climbimg mountains. Bastola added that the trekking business is increasing now. “There will be a slight pressure on the business as the number of tourists coming for trekking will increase for about one and a half months, but this situation will decrease gradually in the following months,'' he said. </span></p> <p><span style="font-size:18px">The Department of Tourism has already started issuing climbing permits to mountaineers for this season. As always, India leads the list of countries that send the most tourists in March. A total of 30,698 tourists from India arrived in Nepal in the review month. The number of Chinese tourists has also increased. In March, 12,093 tourists came from China. </span></p> <p><span style="font-size:18px">According to the board, the arrival of Indian tourists in March this year has increased by 18.5 percent compared to last March. Likewise, the arrival of Chinese tourists has increased by 358 percent compared to last March. </span></p> <p><span style="font-size:18px">Similarly, 10,763 tourists from America, 7,241 from Britain, 5,741 from Sri Lanka and 5,255 from Germany have arrived in Nepal followed by tourists from Thailand, Myanmar, France and Australia. </span></p> <p><span style="font-size:18px">Tourism entrepreneurs say that along with the improvement in arrival of tourists, emphasis should be placed on the improvement of tourism infrastructure. </span></p> <p><span style="font-size:18px">"There is still not enough infrastructure to increase the number of tourists," said Bastola adding that it is imperative for the government to make full use of the Gautam Buddha and Pokhara international airports and to expand the quality road network.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20354', 'image' => '20240402113422_20220704124518_tournba.jpg', 'article_date' => '2024-04-02 11:32:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20626', 'article_category_id' => '1', 'title' => 'Exploration of Petro Products in Dailekh to Gain Momentum with the Arrival of Equipment from China', 'sub_title' => '', 'summary' => 'April 2: The exploration of petroleum products in Dailekh is expected to gain momentum after the arrival of equipment for the first phase of exploration in the district. ', 'content' => '<p><span style="font-size:18px">April 2: The exploration of petroleum products in Dailekh is expected to gain momentum after the arrival of equipment for the first phase of exploration in the district. </span></p> <p><span style="font-size:18px">Five small containers loaded with such equipment arrived in the district from China under a government-to government agreement between Nepal and China. The equipment were shipped via Kolkata Port and entered Nepal through the Rupaidiya-Nepalgunj border. </span></p> <p><span style="font-size:18px">Government officials are expecting the exploration of petroleum products to be carried out round the clock with the arrival of the equipment. Big containers en route to the district from China have been stuck on the way due to narrow turning points along the Karnali and Mid-Hill highways. Efforts are underway to find a passage for those containers. </span></p> <p><span style="font-size:18px">Around 150 containers have reportedly left Rupaidiya checkpoint in India for Dailekh carrying the exploration tools. The fixing of equipment that have already arrived is currently underway.</span></p> <p><span style="font-size:18px">Chief District Officer of Dailekh Khimraj Bhusal regularly monitors the site. He said that the works of exploring the petroleum products have been expedited. He added that the government has initiated the process to address the demands of locals to provide jobs and financial support for the households affected by the project.</span></p> <p><span style="font-size:18px">Dailekh Chamber of Commerce and Industry President Kul Bahadur Gurung said that the project is being implemented as per the G2G agreement between Nepal and China and it is expected to open up new avenues for Nepal's prosperity if turns successful. The drilling for the exploration will go up to four kilometers beneath the earth. </span></p> <p><span style="font-size:18px">The drilling is expected to determine the quantity of petroleum products and gas storage. It will also determine the next course of action, Project Chief Dinesh Kumar Napit said. </span></p> <p><span style="font-size:18px">The government has acquired 45 ropanis of land (one ropani is equivalent to 5476 sq. ft.) at Bhirkhet of Bhairabhi rural municipality-1 for the final survey and the land owners have already been provided with compensation. Twenty seven families received the compensation for the acquired land at the rate of Rs 175,000 per ropani. This survey is said to be significant in determining the volume of raw petroleum products and gas available in the area. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20353', 'image' => '20240402112051_20240122023324_explore.jpg', 'article_date' => '2024-04-02 11:18:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20625', 'article_category_id' => '1', 'title' => 'Banks have Investable Capital of Rs 650 Billion ', 'sub_title' => '', 'summary' => 'April 2: Banks and financial institutions (BFIs) have around Rs 650 billion investable capital. ', 'content' => '<p><span style="font-size:18px">April 2: Banks and financial institutions (BFIs) have around Rs 650 billion investable capital. There is excess of liquidity in the banking system due to less credit flow compared to deposit collection. </span></p> <p><span style="font-size:18px">According to Nepal Rastra Bank (NRB), the total deposits of banks and financial institutions have exceeded Rs 6200 billion as of Saturday. This is the highest deposit ever collected by the BFIs. The deposits of commercial banks alone have reached Rs 5487 billion while that of development banks and finance companies have reached Rs 713 billion. </span></p> <p><span style="font-size:18px">Likewise, the loan disbursement of BFIs has reached Rs 5084 billion as of Saturday. Out of this amount, commercial banks have provided loans of Rs 4498 billion and development banks and finance companies have provided loans of Rs 586 billion, according to Nepal Rastra Bank. </span></p> <p><span style="font-size:18px">In the current fiscal year (FY), bank deposits have increased by Rs 420 billion, while the credit flow has increased by Rs 204 billion. </span></p> <p><span style="font-size:18px">With the increase in the liquidity in the banks, the average credit-deposit ratio (CD ratio) of the banks fell to 79.61 percent on Saturday. </span></p> <p><span style="font-size:18px">According to the provision that banks are allowed to provide loans by maintaining a CD ratio of up to 90 percent, banks have the capacity to provide loans of more than Rs 644 billion. </span></p> <p><span style="font-size:18px">Deputy Information Officer of Nepal Rastra Bank Dr Bhagwat Acharya said that deposits in banks are increasing due to good remittance flow. "There is excess liquidity due to lack of demand for loans amid economic slowdown," he said. He said that the central bank is trying to manage the excess liquidity through facilities such as deposit collection tools. </span></p> <p><span style="font-size:18px">Along with the increase in liquidity in the banks, the central bank has eased the monetary policy by making it flexible and has also reduced the interest rate. Accordingly, the banks have also reduced the interest rates. However, loan disbursement has not been able to increase. </span></p> <p><span style="font-size:18px">Sunil KC, president of Nepal Bankers Association, says that there is no possibility of immediate loan disbursement until the economic activities become vibrant. </span></p> <p><span style="font-size:18px">Due to excess liquidity in banks, the interbank interest rate has also fallen below the target limit. The daily average interest rate of interbank transactions on Saturday remained at 2.63 percent. </span></p> <p><span style="font-size:18px">The central bank has been regularly withdrawing funds from the market through standing deposit facilities as well as deposit collection tools. The NRB has been regularly issuing standing deposit facility every Sunday and Wednesday since February. As of Sunday, the banks have taken Rs 825 billion in fixed deposit facility. On Sunday alone, they deposited Rs 65.70 billion with the Nepal Rastra Bank. Banks get 3 percent interest under the standing deposit facility.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20352', 'image' => '20240402110428_Banks - Copy.jpg', 'article_date' => '2024-04-02 11:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20624', 'article_category_id' => '1', 'title' => 'US Delegation to Attend Investment Summit ', 'sub_title' => '', 'summary' => 'April 2: A delegation of the US Chamber of Commerce delegation is all set to attend the upcoming Investment Summit to be held in Nepal on April 28-29. ', 'content' => '<p><span style="font-size:18px">April 2: A delegation of the US Chamber of Commerce delegation is all set to attend the upcoming Investment Summit to be held in Nepal on April 28-29. </span></p> <p><span style="font-size:18px">US Ambassador to Nepal, Dean Thompson, apprised Minister for Finance Barshaman Pun of the participation of the US delegation in a meeting at the Ministry of Finance on Monday. </span></p> <p><span style="font-size:18px">During the meeting, they discussed various issues of mutual interests including timely completion of the projects that are being run in Nepal with support of the U.S. The American envoy pledged support to make the Investment Summit a success, according to Minister Pun's Secretariat. </span></p> <p><span style="font-size:18px">Informing that preparations were afoot to organize the summit successfully, Minister Pun shared that the government has initiated the process for legal and procedural reforms to create investment-friendly environment in the country.</span></p> <p><span style="font-size:18px">"As a favorable investment climate is being enabled in Nepal, we are anticipating for the participation of more American investors," Minister Pun told the US Ambassador. </span></p> <p><span style="font-size:18px">According to Minister Pun, works related to the Sovereign Credit Rating, a measurement of the government's ability to repay its debts, had been taken forward to improve investment environment in Nepal. The government of Nepal has taken forward the process of rating Nepal's credit rating through international credit rating organization named Fitch Ratings. </span></p> <p><span style="font-size:18px">Similarly, Minister Pun shared that the possibility of Nepal being blacklisted by the Financial Action Taskforce has been eliminated as the bill related to Anti Money Laundering and Business Environment Promotion has been endorsed by the both Houses of the parliament. The Bill that amended provisions of 19 different laws related to money laundering, is currently in the process of authentication by the president. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20351', 'image' => '20240402101241_NepalInvestmentSummit_20240309072431.jpg', 'article_date' => '2024-04-02 10:11:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20623', 'article_category_id' => '1', 'title' => 'House Panel Seeks 'Convincing Reply' from NAC on Irregularities in Narrow Body Plane Repair ', 'sub_title' => '', 'summary' => 'April 1: The International Relations and Tourism Committee under the House of Representatives has directed the Nepal Airlines Corporation (NAC) to provide it with documents concerning the maintenance of a narrow-body aircraft within the next 15 days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: The International Relations and Tourism Committee under the House of Representatives has directed the Nepal Airlines Corporation (NAC) to provide it with documents concerning the maintenance of a narrow-body aircraft within the next 15 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Committee held in Singha Durbar on Monday instructed the national flag-carrier to submit a convincing reply regarding the aircraft repair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Committee President Raj Kishore Yadav said the committee received complaints about alleged corruption during the repair of the aircraft's engine. In this context, the NAC should convince the committee with a substantive reply that there was no corruption during the maintenance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NAC sent its narrow body aircraft to Israel on January 11 for repair. The plane was grounded on December 1, 2023. According to the NAC, Israel-based MRO Company had assured that the plane will arrive in Kathmandu by April 28 but to no avail. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, lawmakers expressed their concern stating that it has been over four months since the aircraft was sent for engine repair and a delay in its arrival has affected the NAC flight schedule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They demanded the formation of a separate committee to probe the matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers Bhim Prasad Acharya, Sunita Baral, Shishir Khanal, Damodar Paudel Bairagi, Uday Shamsher JB Rana, Prem Suwal, Eknath Dhakal, Yogesh Gauchan Thakali and Dr Dhawal Shamsher JB Rana advised the NAC to prepare an action plan for its restructuring, to control irregularities reported inside the NAC and make its service swift and effective. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that disputes between the NAC and Civil Aviation Authority of Nepal (CAAN) have negatively affected the aviation and the entire tourism industry, he urged effective cooperation and collaboration between the two institutes to make a ground from removing Nepal's airlines from the European Union (EU)'s blacklist and for enhancing the reliability of NAC’s services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture and Tourism and Civil Aviation, Hit Bahadur Tamang, assured of action if any wrongdoing is proved on the part of NAC. He said that he is studying the issue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAC executive chair Yubaraj Adhikari said the repair of the narrow body aircraft was done following the rules. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20350', 'image' => '20240401093556_20240118014315_naccccc.jpg', 'article_date' => '2024-04-01 21:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20622', 'article_category_id' => '1', 'title' => '63 Climbers Receive Permits to Scale Mt Everest for Spring Season this Year ', 'sub_title' => '', 'summary' => 'April 1: As many as 63 mountaineers have received permits to climb Mt Everest, the world's highest peak, for this year's spring season.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: As many as 63 mountaineers have received permits to climb Mt Everest, the world's highest peak, for this year's spring season. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, 13 women and 50 men from five different expedition teams took the permits as of Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section Officer of the Department, Chun Bahadur Tamang, said altogether 148 persons including 42 women have got their permits to climb different mountains including Mt Everest this season. By issuing permits, the government has collected a total of Rs 105.59 million in royalty so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement, the department said three expedition teams each have received the permits to climb Mt Amadablam, Mt Annapurna and Mt Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department stated that 478 persons had received permits to climb Mt Everest last year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20349', 'image' => '20240401075430_SubhasDarnal_KalapatharSolukhumbu_RSS_IMG_20240308_200422.jpg', 'article_date' => '2024-04-01 19:53:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20621', 'article_category_id' => '1', 'title' => 'Arrival of Foreign Tourists Increases by 28.9 Percent in March', 'sub_title' => '', 'summary' => 'April 1: The number of foreign tourists visiting Nepal in the month of March increased by 28.9 percent this year compared to the same period of last year.', 'content' => '<p><span style="font-size:18px">April 1: The number of foreign tourists visiting Nepal in the month of March increased by 28.9 percent this year compared to the same period of last year. According to the Nepal Tourist Board, the number of foreign tourists entering Nepal in the review month increased by 28,741 in March 2024 compared to a year ago. </span></p> <p><span style="font-size:18px">The data of the board shows that a total of 99,426 foreign tourists entered Nepal in March last year, while 128,167 tourists arrived here during the corresponding period this year. </span></p> <p><span style="font-size:18px">Most of the visitors arriving in Nepal were Indian tourists. A total of 30,698 tourists from India arrived in Nepal in the review month. The number of Chinese tourists stood at 12, 093. </span></p> <p><span style="font-size:18px">According to the board, 10,773 tourists from the USA visited Nepal in March followed by 7,241 tourists from Britain, 5,741 from Sri Lanka, 5,255 from Germany, 4,345 from Thailand, 3,024 from France and 3,013 from Myanmar. </span></p> <p><span style="font-size:18px">Region-wise, 40,727 tourists arrived in Nepal from South Asia, 28,648 from Asia, 27,582 from Europe, 4,780 from Oceania and 12,614 from Canada and America. </span></p> <p><span style="font-size:18px">The number of tourists visiting Nepal in January this year stood at 79,100 followed by 97,426 foreign tourists in February. In the first three months of 2023, a total of 227,755 foreign tourists had entered Nepal while the country has already welcomed 304,693 foreign tourists in the first three months of 2024, which is 33.78 percent more.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20348', 'image' => '20240401040119_SubasDarnal_SalleriSolukhumbu_RSS_14_IMG-20240312-WA0011.jpg', 'article_date' => '2024-04-01 15:59:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20620', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record, Climbs to an All-time High of Rs 131,600 per Tola', 'sub_title' => '', 'summary' => 'April 1: The price of gold has reached an all-time high on Monday with an increase of Rs 1,600 per tola (11.66 grams) in the domestic market.', 'content' => '<p><span style="font-size:18px">April 1: The price of gold has reached an all-time high on Monday with an increase of Rs 1,600 per tola (11.66 grams) in the domestic market. </span></p> <p><span style="font-size:18px">According to the Federation of Nepal Gold and Silver Dealers Association, fine gold is being traded at Rs 131,600 per tola on Monday against Rs 130,000 per tola on Sunday. </span></p> <p><span style="font-size:18px">On Friday, the price of gold had increased by Rs 2,100 per tola compared to the previous trading day to set a new record, only to be shattered three days later. On Thursday, the precious yellow metal was traded at Rs 127,900 per tola. </span></p> <p><span style="font-size:18px">Meanwhile, the price of silver increased by Rs 10 per tola to reach Rs 1,535 per tola on Monday, up from Rs 1,525 per tola the previous day. </span></p> <p><span style="font-size:18px">The price of gold has been rising steadily in the past few weeks. The federation fixes the price of gold and silver based on the price in the international market.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20347', 'image' => '20240401032631_20240329023658_gold newwww.jpg', 'article_date' => '2024-04-01 15:25:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20619', 'article_category_id' => '1', 'title' => 'UN Chief Calls for Global Action to Combat Waste Crisis ', 'sub_title' => '', 'summary' => 'April 1: UN Secretary-General Antonio Guterres on Saturday called for worldwide efforts to tackle the waste crisis. ', 'content' => '<p><span style="font-size:18px">April 1: UN Secretary-General Antonio Guterres on Saturday called for worldwide efforts to tackle the waste crisis. In a video message for the International Day of Zero Waste, which falls on March 30 annually, the UN chief highlighted the perilous state of the planet. </span></p> <p><span style="font-size:18px">"Our planet is drowning under a torrent of trash," Guterres said, painting a dire picture of the environmental degradation caused by humanity's overconsumption and waste production. </span></p> <p><span style="font-size:18px">With "more than 2 billion tons of municipal solid waste" produced every year, the consequences are devastating for the earth's climate, ecosystems and human health. He emphasized the urgency of addressing overconsumption, stating "overconsumption is killing us. </span></p> <p><span style="font-size:18px">Humanity needs an intervention." Guterres praised the efforts of the Advisory Board on Zero Waste for its role in uniting various stakeholders around the mission of achieving zero waste. To combat this crisis, the top UN official outlined a multifaceted approach.</span></p> <p><span style="font-size:18px">"Businesses must rethink their products to minimize wasteful packaging and maximize longevity and lifecycle," he said, urging a shift toward sustainable production practices. </span></p> <p><span style="font-size:18px">Consumers are also called upon to "think twice about the goods and products they purchase, and recycle or reuse wherever possible." Guterres underscored the importance of government action in fostering circular economies that prioritize "reuse, remanufacturing, recovery, and waste prevention." He pointed out the need for modern waste-management programs that can significantly mitigate the impacts of resource depletion. </span></p> <p><span style="font-size:18px">"On this Zero Waste Day, let's pledge to end the destructive cycle of waste, once and for all," said Guterres, urging global citizens to commit to sustainable practices that protect the planet for future generations. </span></p> <p><span style="font-size:18px">On Dec. 14, 2022, the United Nations General Assembly adopted a resolution at its 77th session to proclaim March 30 as International Day of Zero Waste to be observed annually. – Xinhua/RSS</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20346', 'image' => '20240401024435_20231029095344_Antonio_Guterres_CC_U.S. Mission Photo-Eric Bridiers.jpg', 'article_date' => '2024-04-01 14:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20618', 'article_category_id' => '1', 'title' => 'Parliamentary Hearing Process of Proposed Auditor General Begins ', 'sub_title' => '', 'summary' => 'April 1: The Parliamentary Hearings Committee has initiated the process of hearing of the proposed Auditor General Toyam Raya from Monday. ', 'content' => '<p><span style="font-size:18px">April 1: The Parliamentary Hearings Committee has initiated the process of hearing of the proposed Auditor General Toyam Raya from Monday. </span></p> <p><span style="font-size:18px">The Secretary-General of the Federal Parliament, Padma Prasad Pandey informed that a meeting of the Parliamentary Hearings Committee on Monday decided to issue a notice to the general public to submit any complaints related to Raya to the committee within 10 days. </span></p> <p><span style="font-size:18px">The meeting of the Constitutional Council on Sunday decided to recommend Raya, the Chief Statistics Officer of the National Statistics Office, for the post of Auditor General. </span></p> <p><span style="font-size:18px">The post of Auditor General has remained vacant for around ten months ever since the then Auditor General Tankamani Sharma Dangal retired after completing his term on May 22 last year. </span></p> <p><span style="font-size:18px">The Office of the Auditor General has been running under the acting auditor since then. After Sharma's retirement, the then Deputy Auditor General Rammaya Kunwar was given the responsibility of Acting Auditor General for one and a half months. After Kunwar went on compulsory retirement on August 7, Maheshwar Kafle got the responsibility. </span></p> <p><span style="font-size:18px">Bamdev Sharma was given the responsibility of Acting Auditor General after Kafle went on mandatory retirement due to the age limit in late January. According to the constitutional provisions, the term of the Auditor General is 6 years. Political parties try to appoint someone close to them as the Auditor General who can fulfill their agenda. </span></p> <p><span style="font-size:18px">As the ruling parties wait for the right moment to appoint the Auditor General, the financial discipline of the government is getting worse. The Office of the Auditor General audits all federal and state government offices including the Office of the President and Vice President, Supreme Court, Federal Parliament, Provincial Assembly, Provincial Government, Local Level, Constitutional Bodies and Offices, Courts, Attorney General's Office, Nepal Army, Nepal Police and Armed Police Force. The purpose of the audit is to protect the public resources of the country.</span></p> <p><span style="font-size:18px">The Office of the Auditor General also gives necessary suggestions and recommendations based on the effectiveness of government income and expenditure. The office submits and publishes the annual report of all government agencies to the President. The Office of the Auditor General has the right to see the accounting documents at any time to audit various agencies of the Central and State Governments. However, the lack of leadership has made the Office of the Auditor General weak in its role. </span></p> <p><span style="font-size:18px">The Constitutional Council recommended Raya from among fifteen candidates who had applied for the coveted post after the council invited applications for the office bearers of various constitutional bodies including the vacant Auditor General during the beginning of the current fiscal year. </span></p> <p><span style="font-size:18px">Other candidates who were in the fray for the post of Auditor General were former Acting Auditor General Kunwar and recently appointed Acting Auditor General, Bamdev Sharma, Deputy Auditor General Baikuntha Bahadur Adhikari and Chandrakant Bhandari as well as former secretaries Gopinath Mainali, Ramprasad Thapalia, Hari Basyal, Ram Sharan Pudasaini, Shankar Kharel, and Shishir Kumar Dhungana. Similarly, chartered accountants Subodh Karna and Hari Silwal had also applied for the position.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20345', 'image' => '20240401014548_Parliament.jpg', 'article_date' => '2024-04-01 13:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20617', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petrol by Rs 4 Per Liter', 'sub_title' => '', 'summary' => 'April 1: Nepal Oil Corporation (NOC) has increased the price of petrol by Rs 4 per liter effective from Monday, April 1. ', 'content' => '<p><span style="font-size:18px">April 1: Nepal Oil Corporation (NOC) has increased the price of petrol by Rs 4 per liter effective from Monday, April 1. With the price adjustment, the price of petrol has increased to Rs 175 per litre in the Kathmandu Valley, Pokhara, and Dipayal. </span></p> <p><span style="font-size:18px">Similarly, the price of petrol has been fixed at Rs 174 per litre in Surkhet and Dang, and Rs 172.50 per liter in Charaali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, and Birgunj. </span></p> <p><span style="font-size:18px">The state-owned NOC said that it increased the price of petrol based on new purchase price provided by the Indian Oil Corporation (IOC), the sole supplier of petroleum products to Nepal. </span></p> <p><span style="font-size:18px">Issuing a statement on Sunday, the NOC said that the IOC increased the price of petrol by Rs 4.76 per liter. The IOC has lowered the price of diesel and kerosene by Rs 0.39 per litre and that of LP gas by Rs 27.44 per cylinder. </span></p> <p><span style="font-size:18px">However, the NOC said that the prices of diesel, kerosene and cooking gas remains unchanged. The NOC argued that the price of cooking gas has not been changed as it still faces loss of Rs 296.15 in LP gas per cylinder.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20344', 'image' => '20240401101927_20210824101943_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2024-04-01 10:18:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20616', 'article_category_id' => '1', 'title' => 'High-level Committee on Tax System Reforms Recommends Amending Tax-Related Laws', 'sub_title' => '', 'summary' => 'April 1: A High-level Recommendation Committee on Tax System Reforms has recommended the government to reform tax-related laws of the country as well as the revenue structure.', 'content' => '<p><span style="font-size:18px">April 1: A High-level Recommendation Committee on Tax System Reforms has recommended the government to reform tax-related laws of the country as well as the revenue structure. </span></p> <p><span style="font-size:18px">Submitting its report to Finance Minister Barsha Man Pun on Sunday, the committee headed by Former Finance Secretary Bidhyadhar Mallik stressed on reforms in overall tax administration. The government had made provision for constituting this committee in the budget statement for the fiscal year 2024/25. </span></p> <p><span style="font-size:18px">Accordingly, a meeting of the Council of Ministers on September 15, 2023 constituted the committee. Former secretary Laxman Aryal, professor at the Tribhuvan University, Central Department of Economics Dr Ram Prasad Gyawali and former administrator and customs expert Ram Prasad Dahal were the members of the committee.</span></p> <p><span style="font-size:18px">The committee prepared the 258-page report with 140 annexes in six months. Receiving the report, Finance Minister Pun expressed the government's commitment to implementing the suggestions pointed out by the report. He said the report has come at an appropriate time when the government has been struggling to meet the general expenses from the state coffers. He stressed the need to attract the domestic and foreign investors to bring in maximum investment into the country.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20343', 'image' => '20240401100252_20240331095040_20231213025358_tax.jpg', 'article_date' => '2024-04-01 10:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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It may be noted that the volume of trade through the air route is nominal between the two countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer at Mechi Customs Office, Ram Prasad Regmi, said Nepal has not been able to balance trade with Bangladesh any year since the fiscal year 2071/72 BS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Mechi customs office, goods worth Rs 2.59 billion were imported from Bangladesh in the eight months of the current fiscal year. In the same period, goods worth Rs 165.64 million were exported to Bangladesh.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the customs data, Nepal suffered trade deficit of Rs 5.18 billion with Bangladesh in the FY 2079/80, Rs 10.38 billion in the FY 2078/79, Rs 6.54 billion in the FY 2077/78, Rs 4.24 billion in the FY 2076/77, Rs 2.44 billion in the FY 2075/76 and Rs 2.44 billion in the FY 2075/76 and Rs 2.44 billion in the FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, there was a trade deficit of Rs 2.86 billion in FY 2073/74 and Rs 1.40 billion in FY 2071/72. --RSS</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20357', 'image' => '20240402065758_20240311122722_20240122013031_How-to-start-an-import-export-business.jpg', 'article_date' => '2024-04-02 18:57:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20629', 'article_category_id' => '1', 'title' => 'Leaders Lobbying to Include Plans of Vested Interest in Upcoming Budget', 'sub_title' => '', 'summary' => 'April 2: For the past few days, the mayor of Dharan sub-metropolitan city, Harak Sampang, has been lobbying to get a water supply project for Rai Nagar under the federal government's budget.', 'content' => '<p><span style="font-size:18px">April 2: For the past few days, the mayor of Dharan sub-metropolitan city, Harak Sampang, has been lobbying to get a water supply project for Rai Nagar under the federal government's budget. </span></p> <p><span style="font-size:18px">According to Finance Minister Barshman Pun's secretariat, Mayor Sampang has demanded a budget of around Rs 5 billion for the project which can supply water from Saptakoshi River in Chatara, which is about 15 kilometers away from Dharan. </span></p> <p><span style="font-size:18px">However, a senior official of the National Planning Commission said that the plan proposed by Mayor Sampang falls outside the budget system. "This project does not appear to have been entered in the National Project Bank either. </span></p> <p><span style="font-size:18px">As per the rules, such projects will not get any budget," a senior official who oversees the commission's project bank told New Business Age requesting anonymity. </span></p> <p><span style="font-size:18px">The National Planning Commission had recently issued guidelines on budget preparation to stop the trend of including projects of vested interest of politicians in the budget. </span></p> <p><span style="font-size:18px">According to the Financial Procedures and Fiscal Responsibility Regulations, all central agencies have to send the details of the annual budget and program and medium-term expenditure structure by themselves or through their subordinate offices or projects by compulsorily entering the details of the projects in the National Project Bank. </span></p> <p><span style="font-size:18px">The trend of the people's representative meeting the minister directly to put pressure for inclusion of plans still persists. </span></p> <p><span style="font-size:18px">When Sampang asked for a budget, Finance Minister Barshman Pun suggested him to follow the budget system. The Finance Minister's secretariat said that Minister Pun suggested Sampang to talk to the Ministry of Water Supply and Sanitation as the demand for water supply project should come from the relevant ministry.</span></p> <p><span style="font-size:18px">While the work of drafting the budget for the next fiscal year (FY) has started, Mayor Sampang has been openly pressuring the Minister for Finance as well as the Minister for Home Affairs and Minister for Industry to secure resources for the plans of his interest. </span></p> <p><span style="font-size:18px">Like the mayor of Dharan, other people's representatives have also stepped up their efforts in recent days to incorporate their desired plans in the budget. According to government officials, the plans proposed by many such people’s representatives are not in accordance with the rules. After the promulgation of the new constitution in 2072 BS, the three-tier government started announcing the budget. </span></p> <p><span style="font-size:18px">The leaders had openly announced that the authority of Singha Durbar had been delegated to the village. However, in practice, the tendency of seeking the central government’s help for even petty projects still persists. Even now, the party leaders and the people's representatives have not stopped visiting Singha Durbar to fulfill their plans with vested interest.</span></p> <p><span style="font-size:18px">Rastriya Swatantra Party (RSP)’s MP Hari Dhakal pointed out that there is a risk of repetition of the budget of the same nature due to pressure from the political party leaders and elected representatives. Stating that the discussions in the parliament regarding the principles and priorities of the upcoming year's budget have been completed, he said that a large number of leaders have been lobbying for incorporating their plans in the budget at a time when the NPC has been fixing the ceiling of budget. </span></p> <p><span style="font-size:18px">Uttar Kumar Khatri, joint secretary of the Ministry of Finance, says that it is not appropriate to put pressure for inclusion of schemes from outside the budget system as the government employees have been working from morning till late night to prepare the budget. Khatri insists that if any plans are to be incorporated in the budget, they should come through the relevant ministry. </span></p> <p><span style="font-size:18px">The Constitution of Nepal has a mandatory provision for the government to announce the budget on the fifteenth day of the second month of the Nepali calendar which falls on May 28 this year. </span></p> <p><span style="font-size:18px">The National Planning Commission has set a ceiling of Rs 1800 billion for the next year's budget. However, a highly-placed source at the Ministry of Finance said that the prime minister has instructed to start preparations to bring a budget of around Rs 2000 billion to revitalize the economy of the country. </span></p> <p><span style="font-size:18px">For the current fiscal year, the government had announced a budget of Rs 1751 billion. However, the government has not been able to implement the current fiscal year's budget effectively. So far, the government has failed to spend even 50 percent of the allocated budget. Similarly, even 30 percent of the development budget has not been spent. This has raised serious questions about the efficiency of the government.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20356', 'image' => '20240402044015_budget.jpg', 'article_date' => '2024-04-02 16:37:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20628', 'article_category_id' => '1', 'title' => 'WB Projects Nepal's Economic Growth to be 3.3 Percent in 2024', 'sub_title' => '', 'summary' => 'April 2: The World Bank (WB) has projected Nepal’s economy to grow by 3.3% in 2024, driven by revived tourism and a pickup in hydropower exports.', 'content' => '<p><span style="font-size:18px">April 2: The World Bank (WB) has projected Nepal’s economy to grow by 3.3% in 2024, driven by revived tourism and a pickup in hydropower exports. On the demand side, private consumption will drive growth, supported by a substantial increase in remittance inflows, according to the World Bank’s twice-a-year country development update.</span></p> <p><span style="font-size:18px">In its latest Nepal Development Update, the WB stated that the country's economy is on a recovery path, but private investment remains low while projecting a further rebound in growth of 4.6% in FY25. </span></p> <p><span style="font-size:18px">However, the forecast is subject to multiple risks, including a growth slowdown in partner countries, notably India, the Gulf countries, and Malaysia which could lead to a drop in remittances and tourism. </span></p> <p><span style="font-size:18px">Further business environment reforms aimed at attracting more private investment will be needed to support medium-term growth. </span></p> <p><span style="font-size:18px">“Strengthening the implementation of capital expenditure, boosting business confidence, and strengthening Nepal's international competitiveness are key to stimulating economic growth and reducing poverty,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. </span></p> <p><span style="font-size:18px">The Nepal Development Update is prepared in parallel with the South Asia Development Update, a twice-a-year World Bank report that examines economic developments and prospects in the South Asia region and analyzes policy challenges countries face. </span></p> <p><span style="font-size:18px">The April 2024 edition titled Jobs for Resilience shows growth in South Asia is again higher than any other emerging markets and developing country region in the world, projected at 6% in 2024 and 6.1% in 2025. But this strong outlook is deceptive, says the report. </span></p> <p><span style="font-size:18px">For most countries, growth is still below pre-pandemic levels and is reliant on public spending. At the same time, private investment growth has slowed sharply in all South Asian countries, and the region is not creating enough jobs to keep pace with its rapidly increasing working-age population. </span></p> <p><span style="font-size:18px">“South Asia is failing right now to fully capitalize on its demographic dividend. This is a missed opportunity,” said Franziska Ohnsorge, World Bank’s Chief Economist for South Asia. “If the region employed as large a share of the working-age population as other emerging markets and developing economies, its output could be 16% higher.” </span></p> <p><span style="font-size:18px">The South Asia Development Update recommends a range of policies to spur firm growth and boost employment, including increasing trade openness, improving business climates and institutions, removing financial sector restrictions, improving education, and strengthening legal protection of women’s rights. And these measures would also help lift employment growth and boost productivity, and free up space for public investments in climate adaptation. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20355', 'image' => '20240402024211_World.jpg', 'article_date' => '2024-04-02 14:40:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20627', 'article_category_id' => '1', 'title' => 'Arrival of Tourists up by 33.78 Percent in First Quarter of 2024', 'sub_title' => '', 'summary' => 'April 2: The number of tourists arriving in Nepal by air route has increased by 33.78 percent in the first three months of 2024.', 'content' => '<p><span style="font-size:18px">April 2: The number of tourists arriving in Nepal by air route has increased by 33.78 percent in the first three months of 2024. According to the data published by the Nepal Tourism Board on Monday, 304,693 foreign tourists have arrived in Nepal from January to March in 2024. This number was 227,755 in the corresponding period of 2023. </span></p> <p><span style="font-size:18px">The Tourism Board’s data shows an improvement in arrival of tourist since the beginning of 2024. This year, the tourist arrival in March was 28.9 percent more than last March. According to the board, 128,167 tourists arrived in Nepal by air this year in March. In March 2023, the number was 99,426. </span></p> <p><span style="font-size:18px">The board said that the overall tourist arrival has increased as most of the tourists who prefer trekking and mountain climbing in Nepal come in the spring season. Tourism entrepreneurs say that March and April are considered suitable seasons for mountain climbing and trekking, so the tourist arrival will increase further. </span></p> <p><span style="font-size:18px">Neelhari Bastola, president of Trekking Agencies Association of Nepal (TAN), said that arrival of tourists will increase this April as compared to last April. He says that the number of tourists arriving here for mountain climbing will increase as the next two months are favourable for climbimg mountains. Bastola added that the trekking business is increasing now. “There will be a slight pressure on the business as the number of tourists coming for trekking will increase for about one and a half months, but this situation will decrease gradually in the following months,'' he said. </span></p> <p><span style="font-size:18px">The Department of Tourism has already started issuing climbing permits to mountaineers for this season. As always, India leads the list of countries that send the most tourists in March. A total of 30,698 tourists from India arrived in Nepal in the review month. The number of Chinese tourists has also increased. In March, 12,093 tourists came from China. </span></p> <p><span style="font-size:18px">According to the board, the arrival of Indian tourists in March this year has increased by 18.5 percent compared to last March. Likewise, the arrival of Chinese tourists has increased by 358 percent compared to last March. </span></p> <p><span style="font-size:18px">Similarly, 10,763 tourists from America, 7,241 from Britain, 5,741 from Sri Lanka and 5,255 from Germany have arrived in Nepal followed by tourists from Thailand, Myanmar, France and Australia. </span></p> <p><span style="font-size:18px">Tourism entrepreneurs say that along with the improvement in arrival of tourists, emphasis should be placed on the improvement of tourism infrastructure. </span></p> <p><span style="font-size:18px">"There is still not enough infrastructure to increase the number of tourists," said Bastola adding that it is imperative for the government to make full use of the Gautam Buddha and Pokhara international airports and to expand the quality road network.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20354', 'image' => '20240402113422_20220704124518_tournba.jpg', 'article_date' => '2024-04-02 11:32:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20626', 'article_category_id' => '1', 'title' => 'Exploration of Petro Products in Dailekh to Gain Momentum with the Arrival of Equipment from China', 'sub_title' => '', 'summary' => 'April 2: The exploration of petroleum products in Dailekh is expected to gain momentum after the arrival of equipment for the first phase of exploration in the district. ', 'content' => '<p><span style="font-size:18px">April 2: The exploration of petroleum products in Dailekh is expected to gain momentum after the arrival of equipment for the first phase of exploration in the district. </span></p> <p><span style="font-size:18px">Five small containers loaded with such equipment arrived in the district from China under a government-to government agreement between Nepal and China. The equipment were shipped via Kolkata Port and entered Nepal through the Rupaidiya-Nepalgunj border. </span></p> <p><span style="font-size:18px">Government officials are expecting the exploration of petroleum products to be carried out round the clock with the arrival of the equipment. Big containers en route to the district from China have been stuck on the way due to narrow turning points along the Karnali and Mid-Hill highways. Efforts are underway to find a passage for those containers. </span></p> <p><span style="font-size:18px">Around 150 containers have reportedly left Rupaidiya checkpoint in India for Dailekh carrying the exploration tools. The fixing of equipment that have already arrived is currently underway.</span></p> <p><span style="font-size:18px">Chief District Officer of Dailekh Khimraj Bhusal regularly monitors the site. He said that the works of exploring the petroleum products have been expedited. He added that the government has initiated the process to address the demands of locals to provide jobs and financial support for the households affected by the project.</span></p> <p><span style="font-size:18px">Dailekh Chamber of Commerce and Industry President Kul Bahadur Gurung said that the project is being implemented as per the G2G agreement between Nepal and China and it is expected to open up new avenues for Nepal's prosperity if turns successful. The drilling for the exploration will go up to four kilometers beneath the earth. </span></p> <p><span style="font-size:18px">The drilling is expected to determine the quantity of petroleum products and gas storage. It will also determine the next course of action, Project Chief Dinesh Kumar Napit said. </span></p> <p><span style="font-size:18px">The government has acquired 45 ropanis of land (one ropani is equivalent to 5476 sq. ft.) at Bhirkhet of Bhairabhi rural municipality-1 for the final survey and the land owners have already been provided with compensation. Twenty seven families received the compensation for the acquired land at the rate of Rs 175,000 per ropani. This survey is said to be significant in determining the volume of raw petroleum products and gas available in the area. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20353', 'image' => '20240402112051_20240122023324_explore.jpg', 'article_date' => '2024-04-02 11:18:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20625', 'article_category_id' => '1', 'title' => 'Banks have Investable Capital of Rs 650 Billion ', 'sub_title' => '', 'summary' => 'April 2: Banks and financial institutions (BFIs) have around Rs 650 billion investable capital. ', 'content' => '<p><span style="font-size:18px">April 2: Banks and financial institutions (BFIs) have around Rs 650 billion investable capital. There is excess of liquidity in the banking system due to less credit flow compared to deposit collection. </span></p> <p><span style="font-size:18px">According to Nepal Rastra Bank (NRB), the total deposits of banks and financial institutions have exceeded Rs 6200 billion as of Saturday. This is the highest deposit ever collected by the BFIs. The deposits of commercial banks alone have reached Rs 5487 billion while that of development banks and finance companies have reached Rs 713 billion. </span></p> <p><span style="font-size:18px">Likewise, the loan disbursement of BFIs has reached Rs 5084 billion as of Saturday. Out of this amount, commercial banks have provided loans of Rs 4498 billion and development banks and finance companies have provided loans of Rs 586 billion, according to Nepal Rastra Bank. </span></p> <p><span style="font-size:18px">In the current fiscal year (FY), bank deposits have increased by Rs 420 billion, while the credit flow has increased by Rs 204 billion. </span></p> <p><span style="font-size:18px">With the increase in the liquidity in the banks, the average credit-deposit ratio (CD ratio) of the banks fell to 79.61 percent on Saturday. </span></p> <p><span style="font-size:18px">According to the provision that banks are allowed to provide loans by maintaining a CD ratio of up to 90 percent, banks have the capacity to provide loans of more than Rs 644 billion. </span></p> <p><span style="font-size:18px">Deputy Information Officer of Nepal Rastra Bank Dr Bhagwat Acharya said that deposits in banks are increasing due to good remittance flow. "There is excess liquidity due to lack of demand for loans amid economic slowdown," he said. He said that the central bank is trying to manage the excess liquidity through facilities such as deposit collection tools. </span></p> <p><span style="font-size:18px">Along with the increase in liquidity in the banks, the central bank has eased the monetary policy by making it flexible and has also reduced the interest rate. Accordingly, the banks have also reduced the interest rates. However, loan disbursement has not been able to increase. </span></p> <p><span style="font-size:18px">Sunil KC, president of Nepal Bankers Association, says that there is no possibility of immediate loan disbursement until the economic activities become vibrant. </span></p> <p><span style="font-size:18px">Due to excess liquidity in banks, the interbank interest rate has also fallen below the target limit. The daily average interest rate of interbank transactions on Saturday remained at 2.63 percent. </span></p> <p><span style="font-size:18px">The central bank has been regularly withdrawing funds from the market through standing deposit facilities as well as deposit collection tools. The NRB has been regularly issuing standing deposit facility every Sunday and Wednesday since February. As of Sunday, the banks have taken Rs 825 billion in fixed deposit facility. On Sunday alone, they deposited Rs 65.70 billion with the Nepal Rastra Bank. Banks get 3 percent interest under the standing deposit facility.</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20352', 'image' => '20240402110428_Banks - Copy.jpg', 'article_date' => '2024-04-02 11:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20624', 'article_category_id' => '1', 'title' => 'US Delegation to Attend Investment Summit ', 'sub_title' => '', 'summary' => 'April 2: A delegation of the US Chamber of Commerce delegation is all set to attend the upcoming Investment Summit to be held in Nepal on April 28-29. ', 'content' => '<p><span style="font-size:18px">April 2: A delegation of the US Chamber of Commerce delegation is all set to attend the upcoming Investment Summit to be held in Nepal on April 28-29. </span></p> <p><span style="font-size:18px">US Ambassador to Nepal, Dean Thompson, apprised Minister for Finance Barshaman Pun of the participation of the US delegation in a meeting at the Ministry of Finance on Monday. </span></p> <p><span style="font-size:18px">During the meeting, they discussed various issues of mutual interests including timely completion of the projects that are being run in Nepal with support of the U.S. The American envoy pledged support to make the Investment Summit a success, according to Minister Pun's Secretariat. </span></p> <p><span style="font-size:18px">Informing that preparations were afoot to organize the summit successfully, Minister Pun shared that the government has initiated the process for legal and procedural reforms to create investment-friendly environment in the country.</span></p> <p><span style="font-size:18px">"As a favorable investment climate is being enabled in Nepal, we are anticipating for the participation of more American investors," Minister Pun told the US Ambassador. </span></p> <p><span style="font-size:18px">According to Minister Pun, works related to the Sovereign Credit Rating, a measurement of the government's ability to repay its debts, had been taken forward to improve investment environment in Nepal. The government of Nepal has taken forward the process of rating Nepal's credit rating through international credit rating organization named Fitch Ratings. </span></p> <p><span style="font-size:18px">Similarly, Minister Pun shared that the possibility of Nepal being blacklisted by the Financial Action Taskforce has been eliminated as the bill related to Anti Money Laundering and Business Environment Promotion has been endorsed by the both Houses of the parliament. The Bill that amended provisions of 19 different laws related to money laundering, is currently in the process of authentication by the president. -- RSS</span></p> ', 'published' => true, 'created' => '2024-04-02', 'modified' => '2024-04-02', 'keywords' => '', 'description' => '', 'sortorder' => '20351', 'image' => '20240402101241_NepalInvestmentSummit_20240309072431.jpg', 'article_date' => '2024-04-02 10:11:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20623', 'article_category_id' => '1', 'title' => 'House Panel Seeks 'Convincing Reply' from NAC on Irregularities in Narrow Body Plane Repair ', 'sub_title' => '', 'summary' => 'April 1: The International Relations and Tourism Committee under the House of Representatives has directed the Nepal Airlines Corporation (NAC) to provide it with documents concerning the maintenance of a narrow-body aircraft within the next 15 days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: The International Relations and Tourism Committee under the House of Representatives has directed the Nepal Airlines Corporation (NAC) to provide it with documents concerning the maintenance of a narrow-body aircraft within the next 15 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Committee held in Singha Durbar on Monday instructed the national flag-carrier to submit a convincing reply regarding the aircraft repair. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Committee President Raj Kishore Yadav said the committee received complaints about alleged corruption during the repair of the aircraft's engine. In this context, the NAC should convince the committee with a substantive reply that there was no corruption during the maintenance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NAC sent its narrow body aircraft to Israel on January 11 for repair. The plane was grounded on December 1, 2023. According to the NAC, Israel-based MRO Company had assured that the plane will arrive in Kathmandu by April 28 but to no avail. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, lawmakers expressed their concern stating that it has been over four months since the aircraft was sent for engine repair and a delay in its arrival has affected the NAC flight schedule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They demanded the formation of a separate committee to probe the matter. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lawmakers Bhim Prasad Acharya, Sunita Baral, Shishir Khanal, Damodar Paudel Bairagi, Uday Shamsher JB Rana, Prem Suwal, Eknath Dhakal, Yogesh Gauchan Thakali and Dr Dhawal Shamsher JB Rana advised the NAC to prepare an action plan for its restructuring, to control irregularities reported inside the NAC and make its service swift and effective. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that disputes between the NAC and Civil Aviation Authority of Nepal (CAAN) have negatively affected the aviation and the entire tourism industry, he urged effective cooperation and collaboration between the two institutes to make a ground from removing Nepal's airlines from the European Union (EU)'s blacklist and for enhancing the reliability of NAC’s services. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture and Tourism and Civil Aviation, Hit Bahadur Tamang, assured of action if any wrongdoing is proved on the part of NAC. He said that he is studying the issue. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NAC executive chair Yubaraj Adhikari said the repair of the narrow body aircraft was done following the rules. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20350', 'image' => '20240401093556_20240118014315_naccccc.jpg', 'article_date' => '2024-04-01 21:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20622', 'article_category_id' => '1', 'title' => '63 Climbers Receive Permits to Scale Mt Everest for Spring Season this Year ', 'sub_title' => '', 'summary' => 'April 1: As many as 63 mountaineers have received permits to climb Mt Everest, the world's highest peak, for this year's spring season.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: As many as 63 mountaineers have received permits to climb Mt Everest, the world's highest peak, for this year's spring season. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, 13 women and 50 men from five different expedition teams took the permits as of Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Section Officer of the Department, Chun Bahadur Tamang, said altogether 148 persons including 42 women have got their permits to climb different mountains including Mt Everest this season. By issuing permits, the government has collected a total of Rs 105.59 million in royalty so far. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement, the department said three expedition teams each have received the permits to climb Mt Amadablam, Mt Annapurna and Mt Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department stated that 478 persons had received permits to climb Mt Everest last year. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20349', 'image' => '20240401075430_SubhasDarnal_KalapatharSolukhumbu_RSS_IMG_20240308_200422.jpg', 'article_date' => '2024-04-01 19:53:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20621', 'article_category_id' => '1', 'title' => 'Arrival of Foreign Tourists Increases by 28.9 Percent in March', 'sub_title' => '', 'summary' => 'April 1: The number of foreign tourists visiting Nepal in the month of March increased by 28.9 percent this year compared to the same period of last year.', 'content' => '<p><span style="font-size:18px">April 1: The number of foreign tourists visiting Nepal in the month of March increased by 28.9 percent this year compared to the same period of last year. According to the Nepal Tourist Board, the number of foreign tourists entering Nepal in the review month increased by 28,741 in March 2024 compared to a year ago. </span></p> <p><span style="font-size:18px">The data of the board shows that a total of 99,426 foreign tourists entered Nepal in March last year, while 128,167 tourists arrived here during the corresponding period this year. </span></p> <p><span style="font-size:18px">Most of the visitors arriving in Nepal were Indian tourists. A total of 30,698 tourists from India arrived in Nepal in the review month. The number of Chinese tourists stood at 12, 093. </span></p> <p><span style="font-size:18px">According to the board, 10,773 tourists from the USA visited Nepal in March followed by 7,241 tourists from Britain, 5,741 from Sri Lanka, 5,255 from Germany, 4,345 from Thailand, 3,024 from France and 3,013 from Myanmar. </span></p> <p><span style="font-size:18px">Region-wise, 40,727 tourists arrived in Nepal from South Asia, 28,648 from Asia, 27,582 from Europe, 4,780 from Oceania and 12,614 from Canada and America. </span></p> <p><span style="font-size:18px">The number of tourists visiting Nepal in January this year stood at 79,100 followed by 97,426 foreign tourists in February. In the first three months of 2023, a total of 227,755 foreign tourists had entered Nepal while the country has already welcomed 304,693 foreign tourists in the first three months of 2024, which is 33.78 percent more.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20348', 'image' => '20240401040119_SubasDarnal_SalleriSolukhumbu_RSS_14_IMG-20240312-WA0011.jpg', 'article_date' => '2024-04-01 15:59:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20620', 'article_category_id' => '1', 'title' => 'Price of Gold Sets New Record, Climbs to an All-time High of Rs 131,600 per Tola', 'sub_title' => '', 'summary' => 'April 1: The price of gold has reached an all-time high on Monday with an increase of Rs 1,600 per tola (11.66 grams) in the domestic market.', 'content' => '<p><span style="font-size:18px">April 1: The price of gold has reached an all-time high on Monday with an increase of Rs 1,600 per tola (11.66 grams) in the domestic market. </span></p> <p><span style="font-size:18px">According to the Federation of Nepal Gold and Silver Dealers Association, fine gold is being traded at Rs 131,600 per tola on Monday against Rs 130,000 per tola on Sunday. </span></p> <p><span style="font-size:18px">On Friday, the price of gold had increased by Rs 2,100 per tola compared to the previous trading day to set a new record, only to be shattered three days later. On Thursday, the precious yellow metal was traded at Rs 127,900 per tola. </span></p> <p><span style="font-size:18px">Meanwhile, the price of silver increased by Rs 10 per tola to reach Rs 1,535 per tola on Monday, up from Rs 1,525 per tola the previous day. </span></p> <p><span style="font-size:18px">The price of gold has been rising steadily in the past few weeks. The federation fixes the price of gold and silver based on the price in the international market.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20347', 'image' => '20240401032631_20240329023658_gold newwww.jpg', 'article_date' => '2024-04-01 15:25:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20619', 'article_category_id' => '1', 'title' => 'UN Chief Calls for Global Action to Combat Waste Crisis ', 'sub_title' => '', 'summary' => 'April 1: UN Secretary-General Antonio Guterres on Saturday called for worldwide efforts to tackle the waste crisis. ', 'content' => '<p><span style="font-size:18px">April 1: UN Secretary-General Antonio Guterres on Saturday called for worldwide efforts to tackle the waste crisis. In a video message for the International Day of Zero Waste, which falls on March 30 annually, the UN chief highlighted the perilous state of the planet. </span></p> <p><span style="font-size:18px">"Our planet is drowning under a torrent of trash," Guterres said, painting a dire picture of the environmental degradation caused by humanity's overconsumption and waste production. </span></p> <p><span style="font-size:18px">With "more than 2 billion tons of municipal solid waste" produced every year, the consequences are devastating for the earth's climate, ecosystems and human health. He emphasized the urgency of addressing overconsumption, stating "overconsumption is killing us. </span></p> <p><span style="font-size:18px">Humanity needs an intervention." Guterres praised the efforts of the Advisory Board on Zero Waste for its role in uniting various stakeholders around the mission of achieving zero waste. To combat this crisis, the top UN official outlined a multifaceted approach.</span></p> <p><span style="font-size:18px">"Businesses must rethink their products to minimize wasteful packaging and maximize longevity and lifecycle," he said, urging a shift toward sustainable production practices. </span></p> <p><span style="font-size:18px">Consumers are also called upon to "think twice about the goods and products they purchase, and recycle or reuse wherever possible." Guterres underscored the importance of government action in fostering circular economies that prioritize "reuse, remanufacturing, recovery, and waste prevention." He pointed out the need for modern waste-management programs that can significantly mitigate the impacts of resource depletion. </span></p> <p><span style="font-size:18px">"On this Zero Waste Day, let's pledge to end the destructive cycle of waste, once and for all," said Guterres, urging global citizens to commit to sustainable practices that protect the planet for future generations. </span></p> <p><span style="font-size:18px">On Dec. 14, 2022, the United Nations General Assembly adopted a resolution at its 77th session to proclaim March 30 as International Day of Zero Waste to be observed annually. – Xinhua/RSS</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20346', 'image' => '20240401024435_20231029095344_Antonio_Guterres_CC_U.S. Mission Photo-Eric Bridiers.jpg', 'article_date' => '2024-04-01 14:42:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20618', 'article_category_id' => '1', 'title' => 'Parliamentary Hearing Process of Proposed Auditor General Begins ', 'sub_title' => '', 'summary' => 'April 1: The Parliamentary Hearings Committee has initiated the process of hearing of the proposed Auditor General Toyam Raya from Monday. ', 'content' => '<p><span style="font-size:18px">April 1: The Parliamentary Hearings Committee has initiated the process of hearing of the proposed Auditor General Toyam Raya from Monday. </span></p> <p><span style="font-size:18px">The Secretary-General of the Federal Parliament, Padma Prasad Pandey informed that a meeting of the Parliamentary Hearings Committee on Monday decided to issue a notice to the general public to submit any complaints related to Raya to the committee within 10 days. </span></p> <p><span style="font-size:18px">The meeting of the Constitutional Council on Sunday decided to recommend Raya, the Chief Statistics Officer of the National Statistics Office, for the post of Auditor General. </span></p> <p><span style="font-size:18px">The post of Auditor General has remained vacant for around ten months ever since the then Auditor General Tankamani Sharma Dangal retired after completing his term on May 22 last year. </span></p> <p><span style="font-size:18px">The Office of the Auditor General has been running under the acting auditor since then. After Sharma's retirement, the then Deputy Auditor General Rammaya Kunwar was given the responsibility of Acting Auditor General for one and a half months. After Kunwar went on compulsory retirement on August 7, Maheshwar Kafle got the responsibility. </span></p> <p><span style="font-size:18px">Bamdev Sharma was given the responsibility of Acting Auditor General after Kafle went on mandatory retirement due to the age limit in late January. According to the constitutional provisions, the term of the Auditor General is 6 years. Political parties try to appoint someone close to them as the Auditor General who can fulfill their agenda. </span></p> <p><span style="font-size:18px">As the ruling parties wait for the right moment to appoint the Auditor General, the financial discipline of the government is getting worse. The Office of the Auditor General audits all federal and state government offices including the Office of the President and Vice President, Supreme Court, Federal Parliament, Provincial Assembly, Provincial Government, Local Level, Constitutional Bodies and Offices, Courts, Attorney General's Office, Nepal Army, Nepal Police and Armed Police Force. The purpose of the audit is to protect the public resources of the country.</span></p> <p><span style="font-size:18px">The Office of the Auditor General also gives necessary suggestions and recommendations based on the effectiveness of government income and expenditure. The office submits and publishes the annual report of all government agencies to the President. The Office of the Auditor General has the right to see the accounting documents at any time to audit various agencies of the Central and State Governments. However, the lack of leadership has made the Office of the Auditor General weak in its role. </span></p> <p><span style="font-size:18px">The Constitutional Council recommended Raya from among fifteen candidates who had applied for the coveted post after the council invited applications for the office bearers of various constitutional bodies including the vacant Auditor General during the beginning of the current fiscal year. </span></p> <p><span style="font-size:18px">Other candidates who were in the fray for the post of Auditor General were former Acting Auditor General Kunwar and recently appointed Acting Auditor General, Bamdev Sharma, Deputy Auditor General Baikuntha Bahadur Adhikari and Chandrakant Bhandari as well as former secretaries Gopinath Mainali, Ramprasad Thapalia, Hari Basyal, Ram Sharan Pudasaini, Shankar Kharel, and Shishir Kumar Dhungana. Similarly, chartered accountants Subodh Karna and Hari Silwal had also applied for the position.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20345', 'image' => '20240401014548_Parliament.jpg', 'article_date' => '2024-04-01 13:44:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20617', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petrol by Rs 4 Per Liter', 'sub_title' => '', 'summary' => 'April 1: Nepal Oil Corporation (NOC) has increased the price of petrol by Rs 4 per liter effective from Monday, April 1. ', 'content' => '<p><span style="font-size:18px">April 1: Nepal Oil Corporation (NOC) has increased the price of petrol by Rs 4 per liter effective from Monday, April 1. With the price adjustment, the price of petrol has increased to Rs 175 per litre in the Kathmandu Valley, Pokhara, and Dipayal. </span></p> <p><span style="font-size:18px">Similarly, the price of petrol has been fixed at Rs 174 per litre in Surkhet and Dang, and Rs 172.50 per liter in Charaali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, and Birgunj. </span></p> <p><span style="font-size:18px">The state-owned NOC said that it increased the price of petrol based on new purchase price provided by the Indian Oil Corporation (IOC), the sole supplier of petroleum products to Nepal. </span></p> <p><span style="font-size:18px">Issuing a statement on Sunday, the NOC said that the IOC increased the price of petrol by Rs 4.76 per liter. The IOC has lowered the price of diesel and kerosene by Rs 0.39 per litre and that of LP gas by Rs 27.44 per cylinder. </span></p> <p><span style="font-size:18px">However, the NOC said that the prices of diesel, kerosene and cooking gas remains unchanged. The NOC argued that the price of cooking gas has not been changed as it still faces loss of Rs 296.15 in LP gas per cylinder.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20344', 'image' => '20240401101927_20210824101943_20210707102647_20190503125003_Petrol-Price-Increase.jpg', 'article_date' => '2024-04-01 10:18:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20616', 'article_category_id' => '1', 'title' => 'High-level Committee on Tax System Reforms Recommends Amending Tax-Related Laws', 'sub_title' => '', 'summary' => 'April 1: A High-level Recommendation Committee on Tax System Reforms has recommended the government to reform tax-related laws of the country as well as the revenue structure.', 'content' => '<p><span style="font-size:18px">April 1: A High-level Recommendation Committee on Tax System Reforms has recommended the government to reform tax-related laws of the country as well as the revenue structure. </span></p> <p><span style="font-size:18px">Submitting its report to Finance Minister Barsha Man Pun on Sunday, the committee headed by Former Finance Secretary Bidhyadhar Mallik stressed on reforms in overall tax administration. The government had made provision for constituting this committee in the budget statement for the fiscal year 2024/25. </span></p> <p><span style="font-size:18px">Accordingly, a meeting of the Council of Ministers on September 15, 2023 constituted the committee. Former secretary Laxman Aryal, professor at the Tribhuvan University, Central Department of Economics Dr Ram Prasad Gyawali and former administrator and customs expert Ram Prasad Dahal were the members of the committee.</span></p> <p><span style="font-size:18px">The committee prepared the 258-page report with 140 annexes in six months. Receiving the report, Finance Minister Pun expressed the government's commitment to implementing the suggestions pointed out by the report. He said the report has come at an appropriate time when the government has been struggling to meet the general expenses from the state coffers. He stressed the need to attract the domestic and foreign investors to bring in maximum investment into the country.</span></p> ', 'published' => true, 'created' => '2024-04-01', 'modified' => '2024-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '20343', 'image' => '20240401100252_20240331095040_20231213025358_tax.jpg', 'article_date' => '2024-04-01 10:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
