March 6: The political instability in the country has posed a threat to the next year's budget preparation as well as the implementation of the current fiscal year's…
March 6: The political instability in the country has posed a threat to the next year's budget preparation as well as the implementation of the current fiscal year's…
March 6: Just a day after breaking a new record, the price of hallmark gold has reached an all-time high of Rs 123,500 per tola (11.66 grams) in the domestic market on…
March 6: The Government of Bangladesh has agreed to import 40 MW of electricity from Nepal.…
March 5: Entrepreneurs have sought support from the government to export Nepali products to India. The business fraternity made the plea after India caused obstacles to the export of Nepali products by showing different…
The Pashupatinath Area Development Trust (PADT) is gearing up for the celebrations of Mahashivaratri festival this year. The festival, dedicated to the Hindu god Shiva, is being observed on March…
March 5: The price of gold has reached an all-time high of Rs 123,000 per tola (11.66 grams) in the domestic market of Nepal on…
March 5: Increasing pollution and haphazard use of pesticides in crops have contributed to the decline in the number of birds in the Koshitappu Wildlife Reserve (KWR) and its vicinity.…
March 5: Banks and Financial Institutions (BFIs) have taken standing deposit facility of almost Rs 400 billion in three…
March 5: Women and children of earthquake-hit districts of western Nepal have been suffering from malnutrition.…
March 5: Imports of smart watches has declined in Nepal of…
March 5: An avalanche occurred at Dhukurpokhari of Ngisyang rural municipality in the district, causing inconvenience to people's…
March 4: President Ram Chandra Paudel administered oath of the office and secrecy to three newly-appointed ministers on…
…
March 4: Nepal Olympic Committee (NOC) signed an agreement with French clothing brand Komorebi as the official clothing partner of Nepal for the upcoming Summer Olympics in Paris, France, NOC said in a…
March 4: The government’s Social Security Fund has accumulated about Rs 51 billion in a period of five years since the launch of the contribution-based…
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The budget has not been implemented effectively. Now, with the formation of a new power equation and the finance minister coming from a different party, there are very slim chances of programs of the former finance minister being prioritized. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The new finance minister will likely try to change the team of the ministry and that will weaken the implementation of the current budget. There has been a trend of every finance minister transferring high-ranking officials of the ministry, including the finance secretary and the revenue secretary, immediately after taking charge of the ministry. Most of the finance ministers choose a finance secretary who works under their directive. In the last two years, the government has changed about half a dozen finance secretaries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Outgoing finance minister Mahat appointed Krishna Hari Pushkar as the new finance secretary on September 15 last year. Mahat had changed three finance secretaries within 5 months after becoming the finance minister. Arjun Prasad Pokharel was the finance secretary before Pushkar. Toyam Raya held this position for about 4 months before Pokharel became Finance Secretary on May 3. Pushkar was the finance secretary before Raya. When the then finance minister Janardan Sharma brought the budget for the year 2079/80, Madhu Marasini, who was the finance secretary, was transferred after getting involved in a controversy of changing the tax rate in the budget due to the entry of unauthorized persons. Pushkar, who was appointed finance secretary on August 11, 2022, was replaced by Raya on January 5, 2022.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The staff leadership of the Ministry of Finance, which has the responsibility of keeping the economy of the country in balance, has become like a 'musical chair'. Now the incoming finance minister can repeat the same practice. This may seriously affect the implementation of the current budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to sources close to the Maoists, since the Prime Minister wants to keep the Ministry of Finance under his party, the ruling parties have agreed to appoint Barshman Pun taking charge as the finance minister. Pun is not an economists. The current budget may not be the priority of the new finance minister.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Dr. Mahat had announced a budget of Rs 1751 billion for the current year. So far, the government has spent Rs 752 billion. This year, the target is to spend Rs 1141 billion under the heading of current expenditure but the government has spent only 48.54 percent (554 billion) under this heading.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">So far, the capital expenditure of the government is only 24.54 percent (Rs 73 billion) of the allocated budget of Rs 302 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The data of the Ministry of Finance shows that 40.60 percent (Rs 124 billion) has been spent out of the allocated budget of Rs 307 billion under the heading of financial management. A little more than four months is left for the current fiscal year to end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">This year, the government had set a target of collecting revenue of Rs 1422 billion, but has collected Rs 605 billion percent (42.60 percent). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had scheduled to discuss the priorities and principles of the budget for the upcoming fiscal year 2081/82 in the parliament, but with the change in the power equation on Monday, the parliament was adjourned until March 7. It seems that the Parliament cannot hold a meeting until the balance of power is settled.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">In order to make the implementation of the budget effective by improving the system of the budget, the Dahal-led government brought the law through an ordinance and started the practice of introducing the principles and priorities of the budget three months before the budget is presented in the parliament. However, due to the change in the power equation, it has not been able to discuss the issue in the parliament. There is a risk that the discussion on this matter will be affected in the House due to the prolonged tug-of-war.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20148', 'image' => '20240306030131_budget.jpg', 'article_date' => '2024-03-06 15:00:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20420', 'article_category_id' => '1', 'title' => 'Gold Price Breaks Yet Another Record', 'sub_title' => '', 'summary' => 'March 6: Just a day after breaking a new record, the price of hallmark gold has reached an all-time high of Rs 123,500 per tola (11.66 grams) in the domestic market on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 6: Just a day after breaking a new record, the price of hallmark gold has reached an all-time high of Rs 123,500 per tola (11.66 grams) in the domestic market on Wednesday. The price of the precious yellow metal increased by Rs 500 per tola compared to Tuesday when it was traded for Rs 123,000 per tola. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Federation of Nepal Gold and Silver Dealers Association, worked gold is being traded at Rs 122,900 per tola on Wednesday against Rs 122,400 on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the price of silver has decreased by Rs 5 per tola and reached Rs 1,440 per tola. Earlier on December 28, 2023, the price of gold had set a record reaching Rs 122,000 per tola. The Federation determines the price of gold and silver based on the price in the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gold is being traded in the international market at 2126 dollars per ounce at present, the Federation said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20147', 'image' => '20240306010357_gold newwww.jpg', 'article_date' => '2024-03-06 13:03:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20419', 'article_category_id' => '1', 'title' => 'Electricity Trade Deal with Bangladesh Likely Next Month', 'sub_title' => '', 'summary' => 'March 6: The Government of Bangladesh has agreed to import 40 MW of electricity from Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 6: The Government of Bangladesh has agreed to import 40 MW of electricity from Nepal. The concerned authorities of the two countries will sign an agreement to this effect next month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister of State for Energy and Minerals of Bangladesh, Nasrul Hamid, reportedly said that Bangladesh is preparing to import 9,000 megawatts of electricity from neighboring countries and said that there is a possibility of an agreement to import 40 megawatts from Nepal next month.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Bangladeshi media, Hamid said that Bangladesh and India will work together for the development of the energy sector. During a meeting with Pranay Berma of the Indian High Commission in Bangladesh, the Indian side responded positively regarding the process of importing electricity from Nepal, said Hamid.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Good progress has been made in the process of bringing hydropower from Nepal and Bhutan.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He said that it is almost certain to import 500 megawatts of electricity from Nepal through the Indian company GMR and work is also underway to import renewable energy. Hamid said that if there is a dedicated line from Nepal to Bangladesh, electricity trade will accelerate and it will also benefit India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Two weeks ago, a team of Nepal Electricity Authority reached Dhaka, the capital of Bangladesh, for the electricity trade agreement between the two countries. The authority's team said that although the electricity sales negotiations with Bangladesh Power Development Board (BPDB) have progressed positively, the price has not been finalized. The NEA said that another agreement would be reached soon to finalize the price and the purchase and sale of electricity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Semant Dahal, a lawyer who reached Dhaka for discussions with the NEA team, said the final agreement will be signed next month to export 40 megawatts of electricity from upcoming June.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The authority has sent a proposal to Bangladesh to export up to 40 megawatts of electricity for the six months of the rainy season from June 15 to November 15 every year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal will export electricity to Bangladesh via India's Baharampur-Bheramara and Dhalkewar-Muzaffarpur transmission lines under a five year contract.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20146', 'image' => '20240306115342_20240223021605_banglad.jpg', 'article_date' => '2024-03-06 11:53:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20418', 'article_category_id' => '1', 'title' => 'Entrepreneurs Urge Government to Help Export Nepali Products ', 'sub_title' => '', 'summary' => 'March 5: Entrepreneurs have sought support from the government to export Nepali products to India. The business fraternity made the plea after India caused obstacles to the export of Nepali products by showing different reasons. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Entrepreneurs have sought support from the government to export Nepali products to India. The business fraternity made the plea after India caused obstacles to the export of Nepali products by showing different reasons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at an interaction during the 'Nepal-India economic partnership conference' held at Bhairahawa on Tuesday, various stakeholders talked about the obstacles India has been putting in the export of Nepali goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the Lumbini province chapter of the Confederation of Nepalese Industries, Ezaz Alam said, "India was impeding the export of soap earlier and now cement." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the Indian side has been questioning the quality of Nepali goods, including herbal products and cement being exported to India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the speakers voiced their concerns stating that the customs staffers and security personnel of both the countries along the border have been misbehaving with business persons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking on the occasion, Chairperson of Lumbini province chapter of the Federation of Nepalese Chambers of Commerce and Industry Krishna Prasad Sharma said, "The problem should be resolved in collaboration between the business fraternities of both the countries." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the concerned agencies to take initiative to setup a quarantine office at Lucknow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former Ambassador of Nepal to India Manjeev Singh Puri urged the business persons to pay attention to the production of quality goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Representatives from Nepali and Indian business organizations and associations took part in the conference. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20145', 'image' => '20240306110908_20180205113518_Clipboard46.jpg', 'article_date' => '2024-03-06 11:08:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20417', 'article_category_id' => '1', 'title' => 'PADT Prepares for Shivaratri Celebrations', 'sub_title' => '', 'summary' => 'The Pashupatinath Area Development Trust (PADT) is gearing up for the celebrations of Mahashivaratri festival this year. The festival, dedicated to the Hindu god Shiva, is being observed on March 8.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">March 6: The Pashupatinath Area Development Trust (PADT) is gearing up for the celebrations of Mahashivaratri festival this year. The festival, dedicated to the Hindu god Shiva, is being observed on March 8.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sadhus and the devouts have started arriving in the Pashupatinath area for the Shivaratri festivities. The PADT has announced a ban on the supply of meat products and alcoholic beverages around the temple area, starting from today Wednesday in view of the festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The District Administration Office, Kathmandu, issued a notice regarding the ban on the supply of meat products in specific areas: east from the Gaushala Mitrapark roadway, west from the east border of the Pashupati area, north from the Gaushala Tilganga ring road, and the entire southern area from Guheshwori via Mitrapark-Umakund-Gaurighat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This restriction will remain in force until March 10. The ban aims to observe the festival in a dignified manner, respecting the religious, cultural significance, and the sanctity of the Pashupatinath area. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Production, transportation, sale, purchase, storage, and consumption of alcohol and meat have been prohibited in the vicinity of the Pashupatinath Temple in view of the Shivaratri festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The area is being decorated in preparation for the festival, according to PADT member-secretary Raju Kumar Khatri. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This year, the PADT expects around two million devotees to visit the temple on the occasion of Mahashivaratri. </span></span><br /> <span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">It said that all necessary arrangements have been made to ensure devotees can pay homage to the Hindu god conveniently. However, there is no provision for a special pass to enter the temple to observe Mahashivaratri this year. (RSS) </span></span><br /> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20144', 'image' => '20240306060342_collage (44).jpg', 'article_date' => '2024-03-06 06:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20416', 'article_category_id' => '1', 'title' => 'Gold Price Hits New Record ', 'sub_title' => '', 'summary' => 'March 5: The price of gold has reached an all-time high of Rs 123,000 per tola (11.66 grams) in the domestic market of Nepal on Tuesday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: The price of gold has reached an all-time high of Rs 123,000 per tola (11.66 grams) in the domestic market of Nepal on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold has reached Rs 123,000 per tola on Tuesday with the rise in price by Rs 2,000 per tola. The precious yellow metal was traded at Rs 121,000 per tola on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Federation, worked gold is being traded at Rs 122,400 per tola on Tuesday against Rs 120,400 on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on December 28, 2023, the price of the precious yellow metal had set a record after reaching Rs 122,000 per tola. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federation determines the price of gold and silver based on the price in the international market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the price of silver has increased by Rs 35 per tola and reached Rs 1,445 per tola.</span> -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20143', 'image' => '20240305034441_gold newwww.jpg', 'article_date' => '2024-03-05 15:43:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20415', 'article_category_id' => '1', 'title' => 'Habitat Loss Causes Sharp Decline in Number of Birds in Koshitappu ', 'sub_title' => '', 'summary' => 'March 5: Increasing pollution and haphazard use of pesticides in crops have contributed to the decline in the number of birds in the Koshitappu Wildlife Reserve (KWR) and its vicinity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Increasing pollution and haphazard use of pesticides in crops have contributed to the decline in the number of birds in the Koshitappu Wildlife Reserve (KWR) and its vicinity. Stakeholders said human activities have caused loss of birds' habitats. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mid-Winter Water Birds Census, 2024 has recorded the number of birds at 5,527. They were 53 species of birds. The number last year was 7,573 and the species were 56. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although new species of birds arrive every year in Nepal, both the number and species declined this year, said Birendra Gautam, chief of Koshi Conservation Office under the National Nature Conservation Trust. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The result of the bird census conducted for five days since January 10 was made public on the World Wetland Day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Most of the birds are of duck species- 848. The birds dependent on water are facing shortage of wetlands, which have deprived them of habitat, Gautam added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gautam further claimed, "Severe decline in number of birds is directly related to expanding human settlement and unwarranted activities." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The marshlands are now turned into motorable roads. It is grave threat to the birds. The marshland used to welcome the birds even from Siberia, Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the human activities were contained in the wake of COVID-19, the census had witnessed huge rise in the avian presence. There were 9,289 birds in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal witnesses the arrival of migratory birds from mid-September to mid-December every year, who arrive here to avoid the harsh winter in the northern hemisphere. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KWR located at the tri-junction of Sunsari, Saptari and Udayapur districts is a birds' haven. Some 50 species of migratory birds leave for India, Pakistan and Sri Lanka via Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The avian migration makes transit to various other areas such as Chitwan National Park, Bishajari Lake, Jagdishpur Lake, Ghodaghodi Lake, Shuklaphanta Wildlife Reserve and tributaries of the Koshi and Gandaki rivers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thousands of winter birds also arrive in Nepal from southern countries, including Africa for hatching. The winter birds, however, find habitants in forest and nearby grasslands. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20142', 'image' => '20240305033702_20231118103704_KA_BHARATPUR_IMG_8698.jpg', 'article_date' => '2024-03-05 15:36:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20414', 'article_category_id' => '1', 'title' => 'Banks Use Standing Deposit Facility worth Rs 400 Billion in Three Weeks', 'sub_title' => '', 'summary' => 'March 5: Banks and Financial Institutions (BFIs) have taken standing deposit facility of almost Rs 400 billion in three weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 5: Banks and Financial Institutions (BFIs) have taken standing deposit facility of almost Rs 400 billion in three weeks. As the credit flow of banks have not increased in proportion to the increase in deposit collection, BFIs have started using the standing deposit facility provided by Nepal Rastra Bank for liquidity management.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Nepal Rastra Bank, banks have taken standing deposit facility of Rs 421 billion as of Sunday. Out of that amount, Rs 166 billion is still with the central bank. On Sunday alone, banks deposited Rs 123.80 billion in Nepal Rastra Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the standing deposit facility implemented by the central bank from February 14, banks can keep their excess liquidity in the central bank as deposits. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Banks get 3 percent interest rate when investing in the standing deposit facility. Banks are allowed to deposit excess liquidity twice a week on every Sunday and Wednesday. The average interbank interest rate has remained above 3 percent with the increase in the use of standing deposit facility.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the 'Interest Rate Corridor Procedure - 2076', there is an arrangement for the central bank to set the upper limit of bank rate and the lower limit of deposit collection rate and keep the interbank interest rate in between. For this, Nepal Rastra Bank can use various monetary instruments for liquidity flow and mopping excess liquidity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The central bank introduced the standing deposit facility as per the announcement made in the monetary policy of the current fiscal year in order to make the interest rate corridor effective.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the current fiscal year, bank deposits have increased by Rs 397 billion, while credit flow increased by Rs 208 billion only. As of Friday, banks have collected deposits of Rs 6168 billion and provided loans of Rs 5086 billion. On Friday, the average credit-deposit ratio (CD ratio) of banks was 80.04 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, they still have the capacity to provide loans of more than Rs 600 billion.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20141', 'image' => '20240305013016_bankkkkkk.jpg', 'article_date' => '2024-03-05 13:28:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20411', 'article_category_id' => '1', 'title' => 'Women, Children in Quake-Hit Districts Suffer from Malnutrition ', 'sub_title' => '', 'summary' => 'March 5: Women and children of earthquake-hit districts of western Nepal have been suffering from malnutrition. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Women and children of earthquake-hit districts of western Nepal have been suffering from malnutrition. It was found during health camps conducted at different places of the quake-hit districts including Jajarkot, Rukum West and Salyan in the last three months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 46 health camps were organized under the 'minimum health service programme' launched in the disaster-hit districts. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The women and children visiting the health camps shared that they were deprived of nutritious foods, according to Nepal Family Planning Association. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">More than 7,300 earthquake survivors underwent general health checkup in the camps. Among them, 944 were male and 6,355 were female. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 4,109 women were screened for cervical cancer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The health camps were conducted at Bheri municipality, Nalgad municipality, Barekot rural municipality and Kushe rural municipality of Jajarkot, as well as Athbiskot municipality and Sanibheri rural municipality of Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The association informed that the camp visitors had complained that they were deprived of adequate food intake while they were already affected badly by the quake. There was no proper housing either. It resulted into weak health condition, the association added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The women and children from Kushe and Barekot were suffering most from malnutrition. The adults there lacked awareness on the use of family planning contraceptives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor of Nalgad municipality, Dambar Rawat, admitted that there was threat to food security to the quake survivors. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Barekot rural municipality chair Bir Bahadur Giri and Mayor of Athbiskot municipality Rabi KC shared similar plight. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20138', 'image' => '20240305115951_20221113120329_GM_Doti-1.jpg', 'article_date' => '2024-03-05 11:59:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20410', 'article_category_id' => '1', 'title' => 'Import of Smart Watches Drops by 15 Percent to Rs 200 Million', 'sub_title' => '', 'summary' => 'March 5: Imports of smart watches has declined in Nepal of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 5: Imports of smart watches has declined in Nepal of late. According to the Department of Customs, smart watches worth Rs 200.6 million have been imported into Nepal in the first seven months of the current fiscal year. According to the department, 163,873 units of smart watches were imported during the review period.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the corresponding period of last fiscal year, 194,313 smart watches worth Rs 289. 9 million were imported into Nepal. Compared to the first seven months of last year, import of smart watches decreased by 15 percent in terms of volume and 30 percent in terms of value during the same period of this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Smart watches are being imported from different countries in Nepal. In the review period, Nepal imported smart watches from Canada, China, Hong Kong, India, Japan, Jordan, South Korea, Lebanon, Malaysia, the Netherlands, the Philippines, Portugal, Qatar, Saudi Arabia, Singapore, Spain, Taiwan, the United Arab Emirates, the United Kingdom, the United States of America, Uzbekistan, Vietnam and other countries, according to the data of the department.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The maximum quantity of smart watches were imported from China during this period. According to the Department of Customs, Nepal imported 155,362 smart watches worth Rs 174.8 million from China alone. Similarly, the data of the department shows that 7,791 smart watches worth Rs 13.5 million were imported from India.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20137', 'image' => '20240305113859_sm.jpg', 'article_date' => '2024-03-05 11:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20409', 'article_category_id' => '1', 'title' => 'Avalanche in Manang Causes Inconvenience to Locals and Tourists', 'sub_title' => '', 'summary' => 'March 5: An avalanche occurred at Dhukurpokhari of Ngisyang rural municipality in the district, causing inconvenience to people's movement. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: An avalanche occurred at Dhukurpokhari of Ngisyang rural municipality in the district, causing inconvenience to people's movement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It has become difficult for the locals as well as tourists to travel between upper and lower areas of Mustang.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer Subash Kumar Lamichhane informed that although the avalanche had not blocked the road, it was difficult for people to trek in the upper belt. The upper belt of the district had witnessed massive snowfall on Sunday night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Arrival of tourists has started here, but the avalanche has caused risk," said Dhak Bahadur Bhujel, district chief of Annapurna Conservation Area Project. Some 50 to 60 tourists visit the area daily. He further informed that the tourists were made aware about the risk caused by the avalanche. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20136', 'image' => '20240305110301_NabinLamichhane_Manang_RSS_22_Snow-IMG-20240304-WA0006.jpg', 'article_date' => '2024-03-05 11:02:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20408', 'article_category_id' => '1', 'title' => 'Newly Appointed Ministers Sworn In ', 'sub_title' => '', 'summary' => 'March 4: President Ram Chandra Paudel administered oath of the office and secrecy to three newly-appointed ministers on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 4: President Ram Chandra Paudel administered oath of the office and secrecy to three newly-appointed ministers on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Paudel, in accordance with Article 80 of the Constitution, administered oath of the office and secrecy to the newly-appointed ministers ammid a special programme organised at Sheetal Niwas on Monday. The three ministers were appointed upon the recommendation of Prime Minister Pushpa Kamal Dahal in accordance with Article 76 (9) of the Constitution. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Padam Giri from the CPN (UML), Hit Bahadur Tamang from the CPN (Maoist Centre) and Dol Prasad Aryal from the Rastriya Swatantra Party took the oath of office and secrecy. All the newly-appointed ministers are currently without portfolio. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the formation of the new cabinet, PM Dahal has taken the responsibilities of all the ministries, including Finance Ministry, Ministry of Industry, Commerce and Supplies, Ministry of Energy, Water Resources and Irrigation, Ministry of Law, Justice and Parliamentary Affairs, Ministry of Agriculture and Livestock Development, Ministry of Water Supply, Home Ministry, Foreign Ministry, Ministry of Land Management, Cooperative and Poverty Alleviation. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The new cabinet was formed in collaboration between the CPN Maoist Centre, CPN-UML, Rastriya Swatantra Party and Janata Samajbadi Party, leaving out the largest party in the parliament – the Nepali Congress.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice-President Ram Sahay Prasad Yadav, Speaker Devraj Ghimire, Chief Justice Bishwombhar Shrestha, among others were present during the swearing-in ceremony on Monday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20135', 'image' => '20240305103634_RS_KTM_CABINET_SAPATH_1709555022902(1).jpg', 'article_date' => '2024-03-05 10:35:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20407', 'article_category_id' => '1', 'title' => 'Global IME Bank Opens Branch in Mahottari', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">March 5: Global IME Bank Limited has opened a new branch at Gausala Municipality-5, Mahottari. The branch has started its operation from last Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Along with this, the total number of branches has reached 356. The bank has been rendering services through 379 ATMs, 275 branchless banking services, 65 extensions, revenue collection counters, and 3 foreign representative offices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank facilitates remittance from countries like the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, India, Jordan, Hong Kong, among others. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20134', 'image' => '20240305061554_collage (43).jpg', 'article_date' => '2024-03-05 06:14:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20406', 'article_category_id' => '1', 'title' => 'NOC Announces Komorebi as the Official Clothing Partner of Nepal for Paris Olympics', 'sub_title' => '', 'summary' => 'March 4: Nepal Olympic Committee (NOC) signed an agreement with French clothing brand Komorebi as the official clothing partner of Nepal for the upcoming Summer Olympics in Paris, France, NOC said in a statement.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 4: Nepal Olympic Committee (NOC) signed an agreement with French clothing brand Komorebi as the official clothing partner of Nepal for the upcoming Summer Olympics in Paris, France, NOC said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nilendra Raj Shrestha, NOC Secretary General, and Daniel Valetin, CEO for Komorebi, signed the agreement on behalf of their respective organizations on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Komorebi will provide sports dress to the members of the Nepalese team who will participate in the Paris Olympics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NOC, the partnership deal will last for four years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Komorebi will also provide uniforms to the Nepali team for competitions held under the International Olympic Committee and Olympic Council of Asia, the NOC added. These include Summer and Winter Olympics, Summer and Winter Asian Games, Summer and Winter Youth Olympics, Asian Beach Games and South Asian Games.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon the request of NOC, the Nepali players will be allowed to use the logos of other institutes on the uniforms provided by Komorebi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NOC President Jeevan Ram Shrestha and Nepal Judo Association President Deepak Harsha Bajracharya were also present at the signing ceremony held at the NOC headquarters in Satdobato.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On that occasion, NOC President Shrestha said that this contract has added a new dimension to Nepali sports.</span></span></p> ', 'published' => true, 'created' => '2024-03-04', 'modified' => '2024-03-04', 'keywords' => '', 'description' => '', 'sortorder' => '20133', 'image' => '20240304075739_423568589_1060557795244206_314829715368749780_n.jpg', 'article_date' => '2024-03-04 19:56:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20405', 'article_category_id' => '1', 'title' => 'SSF Collects Rs 51 Billion in Five Years', 'sub_title' => '', 'summary' => 'March 4: The government’s Social Security Fund has accumulated about Rs 51 billion in a period of five years since the launch of the contribution-based scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 4: The government’s Social Security Fund has accumulated about Rs 51 billion in a period of five years since the launch of the contribution-based scheme.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of Sunday, the SSF has collected Rs 50.84 billion from the contributors and employers listed in the fund. The fund has increased investment in various sectors according to its policy to diversify investment. According to social security fund investment procedures, the fund has invested in fixed deposits, shares, debentures, treasury bills, capital market, mutual funds, etc.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A large part of the accumulated amount is kept by the fund in the fixed deposit accounts of the banks. The fund earns 9 percent interest from the amount kept as fixed deposits. Banks can invest that amount according to their preference. SSF officials claim that this will help eliminate liquidity shortages in the market from time to time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The fund is investing rapidly in development bonds as well. The fund is also giving loans to the contributors. Contributors are given special loans based on the contribution amount in addition to housing grants for housing construction, and educational grants to support the development of human capital. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SSF Spokesperson Bibek Panthi informed New Business Age that the funds collected are being invested in various sectors and mobilized for the benefit of the contributors to achieve high, sustainable and assured returns. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There is a provision that the SSF can invest in large projects, but so far it has not been able to invest in such projects. According to Panthi, it is currently under study. SSF officials believe that there is a little 'risk' in investing in such projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Targeting private sector workers, the then KP Sharma Oli-led government had formally announced the launch of contribution-based social security fund on November 27, 2018. The SSF started collecting money from the contributors from the beginning of the next fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">1,170,000 contributors join SSF</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of March 2, a total of 18,731 employers and 1,170,838 contributors have joined the SSF. The largest number of contributors is the Nepali migrant workers who go for foreign employment. The number of such contributors stands at 686,192. The SSF informed that 74 contributors are self-employed, which is the least among all groups. According to the fund, there are 484450 contributors from the formal sector and 122 workers from the informal sector who joined the SSF. Since it is a mandatory to join the SSF before getting a work permit for foreign employment, every person who goes abroad has joined the state-sponsored scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, officials say that the number of Nepalis who go abroad and continue contributing to the fund has not increased. Those who go for foreign employment must deposit Rs 2300 to the fund before getting a work permit. The self-employed must contribute 31 percent of the minimum wage to the fund. However, those contributing to the fund from overseas is not encouraging.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Increasing claim payments</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SSF informed that it has settled claims of more than Rs 7.72 billion made by 1.5 million contributors under four different schemes, namely medical treatment, health and maternity plan, accident and disability protection plan, dependent family protection plan and old age protection plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Out of the amount collected in the fund, Rs 923.15 million have been paid to 54910 people for medical treatment, health and maternity schemes. Similarly, Rs 108.76 million have been paid to 2826 people under accident and disability protection scheme.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, Rs 126.85 million have been paid to 461 people under the dependent family protection scheme. According to the fund, Rs 6.56 billion have been paid to more than 70,000 people under the Old Age Protection Scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the fund, the process of revising the procedure has been advanced to include the families of the contributors under medical treatment. Officials said that a decision will be made within the next week.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-03-04', 'modified' => '2024-03-04', 'keywords' => '', 'description' => '', 'sortorder' => '20132', 'image' => '20240304041519_SSF (1).jpg', 'article_date' => '2024-03-04 16:14:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20421', 'article_category_id' => '1', 'title' => 'Shift in Power Equation Likely to Affect Budget Implementation', 'sub_title' => '', 'summary' => 'March 6: The political instability in the country has posed a threat to the next year's budget preparation as well as the implementation of the current fiscal year's budget.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">March 6: The political instability in the country has posed a threat to the next year's budget preparation as well as the implementation of the current fiscal year's budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Prime Minister Pushpa Kamal Dahal has reshuffled the cabinet after breaking the alliance with the Nepali Congress and forged a new coalition with the CPN-UML, Rashtriya Swatantra Party (RSP), and Janata Samajwadi Party (JSP).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With the new parties joining the government, there is a heightened risk that the priorities, principles, policies and programs of the government will be changed and the current budget will not get prioritiy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Outgoing Minister for Finance Dr Prakash Sharan Mahat had brought the budget for the current fiscal year. The budget has not been implemented effectively. Now, with the formation of a new power equation and the finance minister coming from a different party, there are very slim chances of programs of the former finance minister being prioritized. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The new finance minister will likely try to change the team of the ministry and that will weaken the implementation of the current budget. There has been a trend of every finance minister transferring high-ranking officials of the ministry, including the finance secretary and the revenue secretary, immediately after taking charge of the ministry. Most of the finance ministers choose a finance secretary who works under their directive. In the last two years, the government has changed about half a dozen finance secretaries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Outgoing finance minister Mahat appointed Krishna Hari Pushkar as the new finance secretary on September 15 last year. Mahat had changed three finance secretaries within 5 months after becoming the finance minister. Arjun Prasad Pokharel was the finance secretary before Pushkar. Toyam Raya held this position for about 4 months before Pokharel became Finance Secretary on May 3. Pushkar was the finance secretary before Raya. When the then finance minister Janardan Sharma brought the budget for the year 2079/80, Madhu Marasini, who was the finance secretary, was transferred after getting involved in a controversy of changing the tax rate in the budget due to the entry of unauthorized persons. Pushkar, who was appointed finance secretary on August 11, 2022, was replaced by Raya on January 5, 2022.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The staff leadership of the Ministry of Finance, which has the responsibility of keeping the economy of the country in balance, has become like a 'musical chair'. Now the incoming finance minister can repeat the same practice. This may seriously affect the implementation of the current budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to sources close to the Maoists, since the Prime Minister wants to keep the Ministry of Finance under his party, the ruling parties have agreed to appoint Barshman Pun taking charge as the finance minister. Pun is not an economists. The current budget may not be the priority of the new finance minister.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Dr. Mahat had announced a budget of Rs 1751 billion for the current year. So far, the government has spent Rs 752 billion. This year, the target is to spend Rs 1141 billion under the heading of current expenditure but the government has spent only 48.54 percent (554 billion) under this heading.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">So far, the capital expenditure of the government is only 24.54 percent (Rs 73 billion) of the allocated budget of Rs 302 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The data of the Ministry of Finance shows that 40.60 percent (Rs 124 billion) has been spent out of the allocated budget of Rs 307 billion under the heading of financial management. A little more than four months is left for the current fiscal year to end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">This year, the government had set a target of collecting revenue of Rs 1422 billion, but has collected Rs 605 billion percent (42.60 percent). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had scheduled to discuss the priorities and principles of the budget for the upcoming fiscal year 2081/82 in the parliament, but with the change in the power equation on Monday, the parliament was adjourned until March 7. It seems that the Parliament cannot hold a meeting until the balance of power is settled.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">In order to make the implementation of the budget effective by improving the system of the budget, the Dahal-led government brought the law through an ordinance and started the practice of introducing the principles and priorities of the budget three months before the budget is presented in the parliament. However, due to the change in the power equation, it has not been able to discuss the issue in the parliament. There is a risk that the discussion on this matter will be affected in the House due to the prolonged tug-of-war.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20148', 'image' => '20240306030131_budget.jpg', 'article_date' => '2024-03-06 15:00:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20420', 'article_category_id' => '1', 'title' => 'Gold Price Breaks Yet Another Record', 'sub_title' => '', 'summary' => 'March 6: Just a day after breaking a new record, the price of hallmark gold has reached an all-time high of Rs 123,500 per tola (11.66 grams) in the domestic market on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 6: Just a day after breaking a new record, the price of hallmark gold has reached an all-time high of Rs 123,500 per tola (11.66 grams) in the domestic market on Wednesday. The price of the precious yellow metal increased by Rs 500 per tola compared to Tuesday when it was traded for Rs 123,000 per tola. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Federation of Nepal Gold and Silver Dealers Association, worked gold is being traded at Rs 122,900 per tola on Wednesday against Rs 122,400 on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the price of silver has decreased by Rs 5 per tola and reached Rs 1,440 per tola. Earlier on December 28, 2023, the price of gold had set a record reaching Rs 122,000 per tola. The Federation determines the price of gold and silver based on the price in the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gold is being traded in the international market at 2126 dollars per ounce at present, the Federation said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20147', 'image' => '20240306010357_gold newwww.jpg', 'article_date' => '2024-03-06 13:03:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20419', 'article_category_id' => '1', 'title' => 'Electricity Trade Deal with Bangladesh Likely Next Month', 'sub_title' => '', 'summary' => 'March 6: The Government of Bangladesh has agreed to import 40 MW of electricity from Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 6: The Government of Bangladesh has agreed to import 40 MW of electricity from Nepal. The concerned authorities of the two countries will sign an agreement to this effect next month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister of State for Energy and Minerals of Bangladesh, Nasrul Hamid, reportedly said that Bangladesh is preparing to import 9,000 megawatts of electricity from neighboring countries and said that there is a possibility of an agreement to import 40 megawatts from Nepal next month.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Bangladeshi media, Hamid said that Bangladesh and India will work together for the development of the energy sector. During a meeting with Pranay Berma of the Indian High Commission in Bangladesh, the Indian side responded positively regarding the process of importing electricity from Nepal, said Hamid.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Good progress has been made in the process of bringing hydropower from Nepal and Bhutan.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He said that it is almost certain to import 500 megawatts of electricity from Nepal through the Indian company GMR and work is also underway to import renewable energy. Hamid said that if there is a dedicated line from Nepal to Bangladesh, electricity trade will accelerate and it will also benefit India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Two weeks ago, a team of Nepal Electricity Authority reached Dhaka, the capital of Bangladesh, for the electricity trade agreement between the two countries. The authority's team said that although the electricity sales negotiations with Bangladesh Power Development Board (BPDB) have progressed positively, the price has not been finalized. The NEA said that another agreement would be reached soon to finalize the price and the purchase and sale of electricity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Semant Dahal, a lawyer who reached Dhaka for discussions with the NEA team, said the final agreement will be signed next month to export 40 megawatts of electricity from upcoming June.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The authority has sent a proposal to Bangladesh to export up to 40 megawatts of electricity for the six months of the rainy season from June 15 to November 15 every year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal will export electricity to Bangladesh via India's Baharampur-Bheramara and Dhalkewar-Muzaffarpur transmission lines under a five year contract.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20146', 'image' => '20240306115342_20240223021605_banglad.jpg', 'article_date' => '2024-03-06 11:53:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20418', 'article_category_id' => '1', 'title' => 'Entrepreneurs Urge Government to Help Export Nepali Products ', 'sub_title' => '', 'summary' => 'March 5: Entrepreneurs have sought support from the government to export Nepali products to India. The business fraternity made the plea after India caused obstacles to the export of Nepali products by showing different reasons. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Entrepreneurs have sought support from the government to export Nepali products to India. The business fraternity made the plea after India caused obstacles to the export of Nepali products by showing different reasons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at an interaction during the 'Nepal-India economic partnership conference' held at Bhairahawa on Tuesday, various stakeholders talked about the obstacles India has been putting in the export of Nepali goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the Lumbini province chapter of the Confederation of Nepalese Industries, Ezaz Alam said, "India was impeding the export of soap earlier and now cement." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the Indian side has been questioning the quality of Nepali goods, including herbal products and cement being exported to India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the speakers voiced their concerns stating that the customs staffers and security personnel of both the countries along the border have been misbehaving with business persons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking on the occasion, Chairperson of Lumbini province chapter of the Federation of Nepalese Chambers of Commerce and Industry Krishna Prasad Sharma said, "The problem should be resolved in collaboration between the business fraternities of both the countries." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the concerned agencies to take initiative to setup a quarantine office at Lucknow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former Ambassador of Nepal to India Manjeev Singh Puri urged the business persons to pay attention to the production of quality goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Representatives from Nepali and Indian business organizations and associations took part in the conference. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20145', 'image' => '20240306110908_20180205113518_Clipboard46.jpg', 'article_date' => '2024-03-06 11:08:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20417', 'article_category_id' => '1', 'title' => 'PADT Prepares for Shivaratri Celebrations', 'sub_title' => '', 'summary' => 'The Pashupatinath Area Development Trust (PADT) is gearing up for the celebrations of Mahashivaratri festival this year. The festival, dedicated to the Hindu god Shiva, is being observed on March 8.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">March 6: The Pashupatinath Area Development Trust (PADT) is gearing up for the celebrations of Mahashivaratri festival this year. The festival, dedicated to the Hindu god Shiva, is being observed on March 8.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sadhus and the devouts have started arriving in the Pashupatinath area for the Shivaratri festivities. The PADT has announced a ban on the supply of meat products and alcoholic beverages around the temple area, starting from today Wednesday in view of the festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The District Administration Office, Kathmandu, issued a notice regarding the ban on the supply of meat products in specific areas: east from the Gaushala Mitrapark roadway, west from the east border of the Pashupati area, north from the Gaushala Tilganga ring road, and the entire southern area from Guheshwori via Mitrapark-Umakund-Gaurighat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This restriction will remain in force until March 10. The ban aims to observe the festival in a dignified manner, respecting the religious, cultural significance, and the sanctity of the Pashupatinath area. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Production, transportation, sale, purchase, storage, and consumption of alcohol and meat have been prohibited in the vicinity of the Pashupatinath Temple in view of the Shivaratri festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The area is being decorated in preparation for the festival, according to PADT member-secretary Raju Kumar Khatri. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This year, the PADT expects around two million devotees to visit the temple on the occasion of Mahashivaratri. </span></span><br /> <span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">It said that all necessary arrangements have been made to ensure devotees can pay homage to the Hindu god conveniently. However, there is no provision for a special pass to enter the temple to observe Mahashivaratri this year. (RSS) </span></span><br /> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20144', 'image' => '20240306060342_collage (44).jpg', 'article_date' => '2024-03-06 06:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20416', 'article_category_id' => '1', 'title' => 'Gold Price Hits New Record ', 'sub_title' => '', 'summary' => 'March 5: The price of gold has reached an all-time high of Rs 123,000 per tola (11.66 grams) in the domestic market of Nepal on Tuesday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: The price of gold has reached an all-time high of Rs 123,000 per tola (11.66 grams) in the domestic market of Nepal on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold has reached Rs 123,000 per tola on Tuesday with the rise in price by Rs 2,000 per tola. The precious yellow metal was traded at Rs 121,000 per tola on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Federation, worked gold is being traded at Rs 122,400 per tola on Tuesday against Rs 120,400 on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on December 28, 2023, the price of the precious yellow metal had set a record after reaching Rs 122,000 per tola. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federation determines the price of gold and silver based on the price in the international market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the price of silver has increased by Rs 35 per tola and reached Rs 1,445 per tola.</span> -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20143', 'image' => '20240305034441_gold newwww.jpg', 'article_date' => '2024-03-05 15:43:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20415', 'article_category_id' => '1', 'title' => 'Habitat Loss Causes Sharp Decline in Number of Birds in Koshitappu ', 'sub_title' => '', 'summary' => 'March 5: Increasing pollution and haphazard use of pesticides in crops have contributed to the decline in the number of birds in the Koshitappu Wildlife Reserve (KWR) and its vicinity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Increasing pollution and haphazard use of pesticides in crops have contributed to the decline in the number of birds in the Koshitappu Wildlife Reserve (KWR) and its vicinity. Stakeholders said human activities have caused loss of birds' habitats. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mid-Winter Water Birds Census, 2024 has recorded the number of birds at 5,527. They were 53 species of birds. The number last year was 7,573 and the species were 56. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although new species of birds arrive every year in Nepal, both the number and species declined this year, said Birendra Gautam, chief of Koshi Conservation Office under the National Nature Conservation Trust. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The result of the bird census conducted for five days since January 10 was made public on the World Wetland Day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Most of the birds are of duck species- 848. The birds dependent on water are facing shortage of wetlands, which have deprived them of habitat, Gautam added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gautam further claimed, "Severe decline in number of birds is directly related to expanding human settlement and unwarranted activities." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The marshlands are now turned into motorable roads. It is grave threat to the birds. The marshland used to welcome the birds even from Siberia, Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the human activities were contained in the wake of COVID-19, the census had witnessed huge rise in the avian presence. There were 9,289 birds in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal witnesses the arrival of migratory birds from mid-September to mid-December every year, who arrive here to avoid the harsh winter in the northern hemisphere. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KWR located at the tri-junction of Sunsari, Saptari and Udayapur districts is a birds' haven. Some 50 species of migratory birds leave for India, Pakistan and Sri Lanka via Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The avian migration makes transit to various other areas such as Chitwan National Park, Bishajari Lake, Jagdishpur Lake, Ghodaghodi Lake, Shuklaphanta Wildlife Reserve and tributaries of the Koshi and Gandaki rivers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thousands of winter birds also arrive in Nepal from southern countries, including Africa for hatching. The winter birds, however, find habitants in forest and nearby grasslands. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20142', 'image' => '20240305033702_20231118103704_KA_BHARATPUR_IMG_8698.jpg', 'article_date' => '2024-03-05 15:36:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20414', 'article_category_id' => '1', 'title' => 'Banks Use Standing Deposit Facility worth Rs 400 Billion in Three Weeks', 'sub_title' => '', 'summary' => 'March 5: Banks and Financial Institutions (BFIs) have taken standing deposit facility of almost Rs 400 billion in three weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 5: Banks and Financial Institutions (BFIs) have taken standing deposit facility of almost Rs 400 billion in three weeks. As the credit flow of banks have not increased in proportion to the increase in deposit collection, BFIs have started using the standing deposit facility provided by Nepal Rastra Bank for liquidity management.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Nepal Rastra Bank, banks have taken standing deposit facility of Rs 421 billion as of Sunday. Out of that amount, Rs 166 billion is still with the central bank. On Sunday alone, banks deposited Rs 123.80 billion in Nepal Rastra Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the standing deposit facility implemented by the central bank from February 14, banks can keep their excess liquidity in the central bank as deposits. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Banks get 3 percent interest rate when investing in the standing deposit facility. Banks are allowed to deposit excess liquidity twice a week on every Sunday and Wednesday. The average interbank interest rate has remained above 3 percent with the increase in the use of standing deposit facility.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the 'Interest Rate Corridor Procedure - 2076', there is an arrangement for the central bank to set the upper limit of bank rate and the lower limit of deposit collection rate and keep the interbank interest rate in between. For this, Nepal Rastra Bank can use various monetary instruments for liquidity flow and mopping excess liquidity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The central bank introduced the standing deposit facility as per the announcement made in the monetary policy of the current fiscal year in order to make the interest rate corridor effective.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the current fiscal year, bank deposits have increased by Rs 397 billion, while credit flow increased by Rs 208 billion only. As of Friday, banks have collected deposits of Rs 6168 billion and provided loans of Rs 5086 billion. On Friday, the average credit-deposit ratio (CD ratio) of banks was 80.04 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, they still have the capacity to provide loans of more than Rs 600 billion.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20141', 'image' => '20240305013016_bankkkkkk.jpg', 'article_date' => '2024-03-05 13:28:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20411', 'article_category_id' => '1', 'title' => 'Women, Children in Quake-Hit Districts Suffer from Malnutrition ', 'sub_title' => '', 'summary' => 'March 5: Women and children of earthquake-hit districts of western Nepal have been suffering from malnutrition. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Women and children of earthquake-hit districts of western Nepal have been suffering from malnutrition. It was found during health camps conducted at different places of the quake-hit districts including Jajarkot, Rukum West and Salyan in the last three months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 46 health camps were organized under the 'minimum health service programme' launched in the disaster-hit districts. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The women and children visiting the health camps shared that they were deprived of nutritious foods, according to Nepal Family Planning Association. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">More than 7,300 earthquake survivors underwent general health checkup in the camps. Among them, 944 were male and 6,355 were female. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 4,109 women were screened for cervical cancer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The health camps were conducted at Bheri municipality, Nalgad municipality, Barekot rural municipality and Kushe rural municipality of Jajarkot, as well as Athbiskot municipality and Sanibheri rural municipality of Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The association informed that the camp visitors had complained that they were deprived of adequate food intake while they were already affected badly by the quake. There was no proper housing either. It resulted into weak health condition, the association added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The women and children from Kushe and Barekot were suffering most from malnutrition. The adults there lacked awareness on the use of family planning contraceptives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor of Nalgad municipality, Dambar Rawat, admitted that there was threat to food security to the quake survivors. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Barekot rural municipality chair Bir Bahadur Giri and Mayor of Athbiskot municipality Rabi KC shared similar plight. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20138', 'image' => '20240305115951_20221113120329_GM_Doti-1.jpg', 'article_date' => '2024-03-05 11:59:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20410', 'article_category_id' => '1', 'title' => 'Import of Smart Watches Drops by 15 Percent to Rs 200 Million', 'sub_title' => '', 'summary' => 'March 5: Imports of smart watches has declined in Nepal of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 5: Imports of smart watches has declined in Nepal of late. According to the Department of Customs, smart watches worth Rs 200.6 million have been imported into Nepal in the first seven months of the current fiscal year. According to the department, 163,873 units of smart watches were imported during the review period.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the corresponding period of last fiscal year, 194,313 smart watches worth Rs 289. 9 million were imported into Nepal. Compared to the first seven months of last year, import of smart watches decreased by 15 percent in terms of volume and 30 percent in terms of value during the same period of this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Smart watches are being imported from different countries in Nepal. In the review period, Nepal imported smart watches from Canada, China, Hong Kong, India, Japan, Jordan, South Korea, Lebanon, Malaysia, the Netherlands, the Philippines, Portugal, Qatar, Saudi Arabia, Singapore, Spain, Taiwan, the United Arab Emirates, the United Kingdom, the United States of America, Uzbekistan, Vietnam and other countries, according to the data of the department.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The maximum quantity of smart watches were imported from China during this period. According to the Department of Customs, Nepal imported 155,362 smart watches worth Rs 174.8 million from China alone. Similarly, the data of the department shows that 7,791 smart watches worth Rs 13.5 million were imported from India.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20137', 'image' => '20240305113859_sm.jpg', 'article_date' => '2024-03-05 11:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20409', 'article_category_id' => '1', 'title' => 'Avalanche in Manang Causes Inconvenience to Locals and Tourists', 'sub_title' => '', 'summary' => 'March 5: An avalanche occurred at Dhukurpokhari of Ngisyang rural municipality in the district, causing inconvenience to people's movement. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: An avalanche occurred at Dhukurpokhari of Ngisyang rural municipality in the district, causing inconvenience to people's movement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It has become difficult for the locals as well as tourists to travel between upper and lower areas of Mustang.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer Subash Kumar Lamichhane informed that although the avalanche had not blocked the road, it was difficult for people to trek in the upper belt. The upper belt of the district had witnessed massive snowfall on Sunday night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Arrival of tourists has started here, but the avalanche has caused risk," said Dhak Bahadur Bhujel, district chief of Annapurna Conservation Area Project. Some 50 to 60 tourists visit the area daily. He further informed that the tourists were made aware about the risk caused by the avalanche. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20136', 'image' => '20240305110301_NabinLamichhane_Manang_RSS_22_Snow-IMG-20240304-WA0006.jpg', 'article_date' => '2024-03-05 11:02:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20408', 'article_category_id' => '1', 'title' => 'Newly Appointed Ministers Sworn In ', 'sub_title' => '', 'summary' => 'March 4: President Ram Chandra Paudel administered oath of the office and secrecy to three newly-appointed ministers on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 4: President Ram Chandra Paudel administered oath of the office and secrecy to three newly-appointed ministers on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Paudel, in accordance with Article 80 of the Constitution, administered oath of the office and secrecy to the newly-appointed ministers ammid a special programme organised at Sheetal Niwas on Monday. The three ministers were appointed upon the recommendation of Prime Minister Pushpa Kamal Dahal in accordance with Article 76 (9) of the Constitution. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Padam Giri from the CPN (UML), Hit Bahadur Tamang from the CPN (Maoist Centre) and Dol Prasad Aryal from the Rastriya Swatantra Party took the oath of office and secrecy. All the newly-appointed ministers are currently without portfolio. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the formation of the new cabinet, PM Dahal has taken the responsibilities of all the ministries, including Finance Ministry, Ministry of Industry, Commerce and Supplies, Ministry of Energy, Water Resources and Irrigation, Ministry of Law, Justice and Parliamentary Affairs, Ministry of Agriculture and Livestock Development, Ministry of Water Supply, Home Ministry, Foreign Ministry, Ministry of Land Management, Cooperative and Poverty Alleviation. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The new cabinet was formed in collaboration between the CPN Maoist Centre, CPN-UML, Rastriya Swatantra Party and Janata Samajbadi Party, leaving out the largest party in the parliament – the Nepali Congress.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice-President Ram Sahay Prasad Yadav, Speaker Devraj Ghimire, Chief Justice Bishwombhar Shrestha, among others were present during the swearing-in ceremony on Monday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20135', 'image' => '20240305103634_RS_KTM_CABINET_SAPATH_1709555022902(1).jpg', 'article_date' => '2024-03-05 10:35:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20407', 'article_category_id' => '1', 'title' => 'Global IME Bank Opens Branch in Mahottari', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">March 5: Global IME Bank Limited has opened a new branch at Gausala Municipality-5, Mahottari. The branch has started its operation from last Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Along with this, the total number of branches has reached 356. The bank has been rendering services through 379 ATMs, 275 branchless banking services, 65 extensions, revenue collection counters, and 3 foreign representative offices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank facilitates remittance from countries like the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, India, Jordan, Hong Kong, among others. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20134', 'image' => '20240305061554_collage (43).jpg', 'article_date' => '2024-03-05 06:14:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20406', 'article_category_id' => '1', 'title' => 'NOC Announces Komorebi as the Official Clothing Partner of Nepal for Paris Olympics', 'sub_title' => '', 'summary' => 'March 4: Nepal Olympic Committee (NOC) signed an agreement with French clothing brand Komorebi as the official clothing partner of Nepal for the upcoming Summer Olympics in Paris, France, NOC said in a statement.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 4: Nepal Olympic Committee (NOC) signed an agreement with French clothing brand Komorebi as the official clothing partner of Nepal for the upcoming Summer Olympics in Paris, France, NOC said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nilendra Raj Shrestha, NOC Secretary General, and Daniel Valetin, CEO for Komorebi, signed the agreement on behalf of their respective organizations on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Komorebi will provide sports dress to the members of the Nepalese team who will participate in the Paris Olympics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NOC, the partnership deal will last for four years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Komorebi will also provide uniforms to the Nepali team for competitions held under the International Olympic Committee and Olympic Council of Asia, the NOC added. These include Summer and Winter Olympics, Summer and Winter Asian Games, Summer and Winter Youth Olympics, Asian Beach Games and South Asian Games.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon the request of NOC, the Nepali players will be allowed to use the logos of other institutes on the uniforms provided by Komorebi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NOC President Jeevan Ram Shrestha and Nepal Judo Association President Deepak Harsha Bajracharya were also present at the signing ceremony held at the NOC headquarters in Satdobato.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On that occasion, NOC President Shrestha said that this contract has added a new dimension to Nepali sports.</span></span></p> ', 'published' => true, 'created' => '2024-03-04', 'modified' => '2024-03-04', 'keywords' => '', 'description' => '', 'sortorder' => '20133', 'image' => '20240304075739_423568589_1060557795244206_314829715368749780_n.jpg', 'article_date' => '2024-03-04 19:56:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20405', 'article_category_id' => '1', 'title' => 'SSF Collects Rs 51 Billion in Five Years', 'sub_title' => '', 'summary' => 'March 4: The government’s Social Security Fund has accumulated about Rs 51 billion in a period of five years since the launch of the contribution-based scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 4: The government’s Social Security Fund has accumulated about Rs 51 billion in a period of five years since the launch of the contribution-based scheme.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of Sunday, the SSF has collected Rs 50.84 billion from the contributors and employers listed in the fund. The fund has increased investment in various sectors according to its policy to diversify investment. According to social security fund investment procedures, the fund has invested in fixed deposits, shares, debentures, treasury bills, capital market, mutual funds, etc.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A large part of the accumulated amount is kept by the fund in the fixed deposit accounts of the banks. The fund earns 9 percent interest from the amount kept as fixed deposits. Banks can invest that amount according to their preference. SSF officials claim that this will help eliminate liquidity shortages in the market from time to time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The fund is investing rapidly in development bonds as well. The fund is also giving loans to the contributors. Contributors are given special loans based on the contribution amount in addition to housing grants for housing construction, and educational grants to support the development of human capital. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SSF Spokesperson Bibek Panthi informed New Business Age that the funds collected are being invested in various sectors and mobilized for the benefit of the contributors to achieve high, sustainable and assured returns. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There is a provision that the SSF can invest in large projects, but so far it has not been able to invest in such projects. According to Panthi, it is currently under study. SSF officials believe that there is a little 'risk' in investing in such projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Targeting private sector workers, the then KP Sharma Oli-led government had formally announced the launch of contribution-based social security fund on November 27, 2018. The SSF started collecting money from the contributors from the beginning of the next fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">1,170,000 contributors join SSF</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of March 2, a total of 18,731 employers and 1,170,838 contributors have joined the SSF. The largest number of contributors is the Nepali migrant workers who go for foreign employment. The number of such contributors stands at 686,192. The SSF informed that 74 contributors are self-employed, which is the least among all groups. According to the fund, there are 484450 contributors from the formal sector and 122 workers from the informal sector who joined the SSF. Since it is a mandatory to join the SSF before getting a work permit for foreign employment, every person who goes abroad has joined the state-sponsored scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, officials say that the number of Nepalis who go abroad and continue contributing to the fund has not increased. Those who go for foreign employment must deposit Rs 2300 to the fund before getting a work permit. The self-employed must contribute 31 percent of the minimum wage to the fund. However, those contributing to the fund from overseas is not encouraging.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Increasing claim payments</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SSF informed that it has settled claims of more than Rs 7.72 billion made by 1.5 million contributors under four different schemes, namely medical treatment, health and maternity plan, accident and disability protection plan, dependent family protection plan and old age protection plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Out of the amount collected in the fund, Rs 923.15 million have been paid to 54910 people for medical treatment, health and maternity schemes. Similarly, Rs 108.76 million have been paid to 2826 people under accident and disability protection scheme.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, Rs 126.85 million have been paid to 461 people under the dependent family protection scheme. According to the fund, Rs 6.56 billion have been paid to more than 70,000 people under the Old Age Protection Scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the fund, the process of revising the procedure has been advanced to include the families of the contributors under medical treatment. Officials said that a decision will be made within the next week.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-03-04', 'modified' => '2024-03-04', 'keywords' => '', 'description' => '', 'sortorder' => '20132', 'image' => '20240304041519_SSF (1).jpg', 'article_date' => '2024-03-04 16:14:34', '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' => '20421', 'article_category_id' => '1', 'title' => 'Shift in Power Equation Likely to Affect Budget Implementation', 'sub_title' => '', 'summary' => 'March 6: The political instability in the country has posed a threat to the next year's budget preparation as well as the implementation of the current fiscal year's budget.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">March 6: The political instability in the country has posed a threat to the next year's budget preparation as well as the implementation of the current fiscal year's budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Prime Minister Pushpa Kamal Dahal has reshuffled the cabinet after breaking the alliance with the Nepali Congress and forged a new coalition with the CPN-UML, Rashtriya Swatantra Party (RSP), and Janata Samajwadi Party (JSP).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With the new parties joining the government, there is a heightened risk that the priorities, principles, policies and programs of the government will be changed and the current budget will not get prioritiy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Outgoing Minister for Finance Dr Prakash Sharan Mahat had brought the budget for the current fiscal year. The budget has not been implemented effectively. Now, with the formation of a new power equation and the finance minister coming from a different party, there are very slim chances of programs of the former finance minister being prioritized. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The new finance minister will likely try to change the team of the ministry and that will weaken the implementation of the current budget. There has been a trend of every finance minister transferring high-ranking officials of the ministry, including the finance secretary and the revenue secretary, immediately after taking charge of the ministry. Most of the finance ministers choose a finance secretary who works under their directive. In the last two years, the government has changed about half a dozen finance secretaries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Outgoing finance minister Mahat appointed Krishna Hari Pushkar as the new finance secretary on September 15 last year. Mahat had changed three finance secretaries within 5 months after becoming the finance minister. Arjun Prasad Pokharel was the finance secretary before Pushkar. Toyam Raya held this position for about 4 months before Pokharel became Finance Secretary on May 3. Pushkar was the finance secretary before Raya. When the then finance minister Janardan Sharma brought the budget for the year 2079/80, Madhu Marasini, who was the finance secretary, was transferred after getting involved in a controversy of changing the tax rate in the budget due to the entry of unauthorized persons. Pushkar, who was appointed finance secretary on August 11, 2022, was replaced by Raya on January 5, 2022.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The staff leadership of the Ministry of Finance, which has the responsibility of keeping the economy of the country in balance, has become like a 'musical chair'. Now the incoming finance minister can repeat the same practice. This may seriously affect the implementation of the current budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to sources close to the Maoists, since the Prime Minister wants to keep the Ministry of Finance under his party, the ruling parties have agreed to appoint Barshman Pun taking charge as the finance minister. Pun is not an economists. The current budget may not be the priority of the new finance minister.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Dr. Mahat had announced a budget of Rs 1751 billion for the current year. So far, the government has spent Rs 752 billion. This year, the target is to spend Rs 1141 billion under the heading of current expenditure but the government has spent only 48.54 percent (554 billion) under this heading.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">So far, the capital expenditure of the government is only 24.54 percent (Rs 73 billion) of the allocated budget of Rs 302 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The data of the Ministry of Finance shows that 40.60 percent (Rs 124 billion) has been spent out of the allocated budget of Rs 307 billion under the heading of financial management. A little more than four months is left for the current fiscal year to end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">This year, the government had set a target of collecting revenue of Rs 1422 billion, but has collected Rs 605 billion percent (42.60 percent). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had scheduled to discuss the priorities and principles of the budget for the upcoming fiscal year 2081/82 in the parliament, but with the change in the power equation on Monday, the parliament was adjourned until March 7. It seems that the Parliament cannot hold a meeting until the balance of power is settled.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">In order to make the implementation of the budget effective by improving the system of the budget, the Dahal-led government brought the law through an ordinance and started the practice of introducing the principles and priorities of the budget three months before the budget is presented in the parliament. However, due to the change in the power equation, it has not been able to discuss the issue in the parliament. There is a risk that the discussion on this matter will be affected in the House due to the prolonged tug-of-war.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20148', 'image' => '20240306030131_budget.jpg', 'article_date' => '2024-03-06 15:00:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20420', 'article_category_id' => '1', 'title' => 'Gold Price Breaks Yet Another Record', 'sub_title' => '', 'summary' => 'March 6: Just a day after breaking a new record, the price of hallmark gold has reached an all-time high of Rs 123,500 per tola (11.66 grams) in the domestic market on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 6: Just a day after breaking a new record, the price of hallmark gold has reached an all-time high of Rs 123,500 per tola (11.66 grams) in the domestic market on Wednesday. The price of the precious yellow metal increased by Rs 500 per tola compared to Tuesday when it was traded for Rs 123,000 per tola. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Federation of Nepal Gold and Silver Dealers Association, worked gold is being traded at Rs 122,900 per tola on Wednesday against Rs 122,400 on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the price of silver has decreased by Rs 5 per tola and reached Rs 1,440 per tola. Earlier on December 28, 2023, the price of gold had set a record reaching Rs 122,000 per tola. The Federation determines the price of gold and silver based on the price in the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gold is being traded in the international market at 2126 dollars per ounce at present, the Federation said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20147', 'image' => '20240306010357_gold newwww.jpg', 'article_date' => '2024-03-06 13:03:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20419', 'article_category_id' => '1', 'title' => 'Electricity Trade Deal with Bangladesh Likely Next Month', 'sub_title' => '', 'summary' => 'March 6: The Government of Bangladesh has agreed to import 40 MW of electricity from Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 6: The Government of Bangladesh has agreed to import 40 MW of electricity from Nepal. The concerned authorities of the two countries will sign an agreement to this effect next month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister of State for Energy and Minerals of Bangladesh, Nasrul Hamid, reportedly said that Bangladesh is preparing to import 9,000 megawatts of electricity from neighboring countries and said that there is a possibility of an agreement to import 40 megawatts from Nepal next month.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Bangladeshi media, Hamid said that Bangladesh and India will work together for the development of the energy sector. During a meeting with Pranay Berma of the Indian High Commission in Bangladesh, the Indian side responded positively regarding the process of importing electricity from Nepal, said Hamid.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Good progress has been made in the process of bringing hydropower from Nepal and Bhutan.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He said that it is almost certain to import 500 megawatts of electricity from Nepal through the Indian company GMR and work is also underway to import renewable energy. Hamid said that if there is a dedicated line from Nepal to Bangladesh, electricity trade will accelerate and it will also benefit India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Two weeks ago, a team of Nepal Electricity Authority reached Dhaka, the capital of Bangladesh, for the electricity trade agreement between the two countries. The authority's team said that although the electricity sales negotiations with Bangladesh Power Development Board (BPDB) have progressed positively, the price has not been finalized. The NEA said that another agreement would be reached soon to finalize the price and the purchase and sale of electricity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Semant Dahal, a lawyer who reached Dhaka for discussions with the NEA team, said the final agreement will be signed next month to export 40 megawatts of electricity from upcoming June.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The authority has sent a proposal to Bangladesh to export up to 40 megawatts of electricity for the six months of the rainy season from June 15 to November 15 every year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal will export electricity to Bangladesh via India's Baharampur-Bheramara and Dhalkewar-Muzaffarpur transmission lines under a five year contract.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20146', 'image' => '20240306115342_20240223021605_banglad.jpg', 'article_date' => '2024-03-06 11:53:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20418', 'article_category_id' => '1', 'title' => 'Entrepreneurs Urge Government to Help Export Nepali Products ', 'sub_title' => '', 'summary' => 'March 5: Entrepreneurs have sought support from the government to export Nepali products to India. The business fraternity made the plea after India caused obstacles to the export of Nepali products by showing different reasons. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Entrepreneurs have sought support from the government to export Nepali products to India. The business fraternity made the plea after India caused obstacles to the export of Nepali products by showing different reasons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at an interaction during the 'Nepal-India economic partnership conference' held at Bhairahawa on Tuesday, various stakeholders talked about the obstacles India has been putting in the export of Nepali goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the Lumbini province chapter of the Confederation of Nepalese Industries, Ezaz Alam said, "India was impeding the export of soap earlier and now cement." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the Indian side has been questioning the quality of Nepali goods, including herbal products and cement being exported to India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the speakers voiced their concerns stating that the customs staffers and security personnel of both the countries along the border have been misbehaving with business persons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking on the occasion, Chairperson of Lumbini province chapter of the Federation of Nepalese Chambers of Commerce and Industry Krishna Prasad Sharma said, "The problem should be resolved in collaboration between the business fraternities of both the countries." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the concerned agencies to take initiative to setup a quarantine office at Lucknow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former Ambassador of Nepal to India Manjeev Singh Puri urged the business persons to pay attention to the production of quality goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Representatives from Nepali and Indian business organizations and associations took part in the conference. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20145', 'image' => '20240306110908_20180205113518_Clipboard46.jpg', 'article_date' => '2024-03-06 11:08:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20417', 'article_category_id' => '1', 'title' => 'PADT Prepares for Shivaratri Celebrations', 'sub_title' => '', 'summary' => 'The Pashupatinath Area Development Trust (PADT) is gearing up for the celebrations of Mahashivaratri festival this year. The festival, dedicated to the Hindu god Shiva, is being observed on March 8.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">March 6: The Pashupatinath Area Development Trust (PADT) is gearing up for the celebrations of Mahashivaratri festival this year. The festival, dedicated to the Hindu god Shiva, is being observed on March 8.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sadhus and the devouts have started arriving in the Pashupatinath area for the Shivaratri festivities. The PADT has announced a ban on the supply of meat products and alcoholic beverages around the temple area, starting from today Wednesday in view of the festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The District Administration Office, Kathmandu, issued a notice regarding the ban on the supply of meat products in specific areas: east from the Gaushala Mitrapark roadway, west from the east border of the Pashupati area, north from the Gaushala Tilganga ring road, and the entire southern area from Guheshwori via Mitrapark-Umakund-Gaurighat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This restriction will remain in force until March 10. The ban aims to observe the festival in a dignified manner, respecting the religious, cultural significance, and the sanctity of the Pashupatinath area. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Production, transportation, sale, purchase, storage, and consumption of alcohol and meat have been prohibited in the vicinity of the Pashupatinath Temple in view of the Shivaratri festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The area is being decorated in preparation for the festival, according to PADT member-secretary Raju Kumar Khatri. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This year, the PADT expects around two million devotees to visit the temple on the occasion of Mahashivaratri. </span></span><br /> <span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">It said that all necessary arrangements have been made to ensure devotees can pay homage to the Hindu god conveniently. However, there is no provision for a special pass to enter the temple to observe Mahashivaratri this year. (RSS) </span></span><br /> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20144', 'image' => '20240306060342_collage (44).jpg', 'article_date' => '2024-03-06 06:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20416', 'article_category_id' => '1', 'title' => 'Gold Price Hits New Record ', 'sub_title' => '', 'summary' => 'March 5: The price of gold has reached an all-time high of Rs 123,000 per tola (11.66 grams) in the domestic market of Nepal on Tuesday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: The price of gold has reached an all-time high of Rs 123,000 per tola (11.66 grams) in the domestic market of Nepal on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold has reached Rs 123,000 per tola on Tuesday with the rise in price by Rs 2,000 per tola. The precious yellow metal was traded at Rs 121,000 per tola on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Federation, worked gold is being traded at Rs 122,400 per tola on Tuesday against Rs 120,400 on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on December 28, 2023, the price of the precious yellow metal had set a record after reaching Rs 122,000 per tola. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federation determines the price of gold and silver based on the price in the international market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the price of silver has increased by Rs 35 per tola and reached Rs 1,445 per tola.</span> -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20143', 'image' => '20240305034441_gold newwww.jpg', 'article_date' => '2024-03-05 15:43:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20415', 'article_category_id' => '1', 'title' => 'Habitat Loss Causes Sharp Decline in Number of Birds in Koshitappu ', 'sub_title' => '', 'summary' => 'March 5: Increasing pollution and haphazard use of pesticides in crops have contributed to the decline in the number of birds in the Koshitappu Wildlife Reserve (KWR) and its vicinity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Increasing pollution and haphazard use of pesticides in crops have contributed to the decline in the number of birds in the Koshitappu Wildlife Reserve (KWR) and its vicinity. Stakeholders said human activities have caused loss of birds' habitats. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mid-Winter Water Birds Census, 2024 has recorded the number of birds at 5,527. They were 53 species of birds. The number last year was 7,573 and the species were 56. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although new species of birds arrive every year in Nepal, both the number and species declined this year, said Birendra Gautam, chief of Koshi Conservation Office under the National Nature Conservation Trust. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The result of the bird census conducted for five days since January 10 was made public on the World Wetland Day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Most of the birds are of duck species- 848. The birds dependent on water are facing shortage of wetlands, which have deprived them of habitat, Gautam added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gautam further claimed, "Severe decline in number of birds is directly related to expanding human settlement and unwarranted activities." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The marshlands are now turned into motorable roads. It is grave threat to the birds. The marshland used to welcome the birds even from Siberia, Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the human activities were contained in the wake of COVID-19, the census had witnessed huge rise in the avian presence. There were 9,289 birds in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal witnesses the arrival of migratory birds from mid-September to mid-December every year, who arrive here to avoid the harsh winter in the northern hemisphere. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KWR located at the tri-junction of Sunsari, Saptari and Udayapur districts is a birds' haven. Some 50 species of migratory birds leave for India, Pakistan and Sri Lanka via Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The avian migration makes transit to various other areas such as Chitwan National Park, Bishajari Lake, Jagdishpur Lake, Ghodaghodi Lake, Shuklaphanta Wildlife Reserve and tributaries of the Koshi and Gandaki rivers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thousands of winter birds also arrive in Nepal from southern countries, including Africa for hatching. The winter birds, however, find habitants in forest and nearby grasslands. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20142', 'image' => '20240305033702_20231118103704_KA_BHARATPUR_IMG_8698.jpg', 'article_date' => '2024-03-05 15:36:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20414', 'article_category_id' => '1', 'title' => 'Banks Use Standing Deposit Facility worth Rs 400 Billion in Three Weeks', 'sub_title' => '', 'summary' => 'March 5: Banks and Financial Institutions (BFIs) have taken standing deposit facility of almost Rs 400 billion in three weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 5: Banks and Financial Institutions (BFIs) have taken standing deposit facility of almost Rs 400 billion in three weeks. As the credit flow of banks have not increased in proportion to the increase in deposit collection, BFIs have started using the standing deposit facility provided by Nepal Rastra Bank for liquidity management.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Nepal Rastra Bank, banks have taken standing deposit facility of Rs 421 billion as of Sunday. Out of that amount, Rs 166 billion is still with the central bank. On Sunday alone, banks deposited Rs 123.80 billion in Nepal Rastra Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the standing deposit facility implemented by the central bank from February 14, banks can keep their excess liquidity in the central bank as deposits. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Banks get 3 percent interest rate when investing in the standing deposit facility. Banks are allowed to deposit excess liquidity twice a week on every Sunday and Wednesday. The average interbank interest rate has remained above 3 percent with the increase in the use of standing deposit facility.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the 'Interest Rate Corridor Procedure - 2076', there is an arrangement for the central bank to set the upper limit of bank rate and the lower limit of deposit collection rate and keep the interbank interest rate in between. For this, Nepal Rastra Bank can use various monetary instruments for liquidity flow and mopping excess liquidity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The central bank introduced the standing deposit facility as per the announcement made in the monetary policy of the current fiscal year in order to make the interest rate corridor effective.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the current fiscal year, bank deposits have increased by Rs 397 billion, while credit flow increased by Rs 208 billion only. As of Friday, banks have collected deposits of Rs 6168 billion and provided loans of Rs 5086 billion. On Friday, the average credit-deposit ratio (CD ratio) of banks was 80.04 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, they still have the capacity to provide loans of more than Rs 600 billion.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20141', 'image' => '20240305013016_bankkkkkk.jpg', 'article_date' => '2024-03-05 13:28:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20411', 'article_category_id' => '1', 'title' => 'Women, Children in Quake-Hit Districts Suffer from Malnutrition ', 'sub_title' => '', 'summary' => 'March 5: Women and children of earthquake-hit districts of western Nepal have been suffering from malnutrition. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Women and children of earthquake-hit districts of western Nepal have been suffering from malnutrition. It was found during health camps conducted at different places of the quake-hit districts including Jajarkot, Rukum West and Salyan in the last three months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 46 health camps were organized under the 'minimum health service programme' launched in the disaster-hit districts. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The women and children visiting the health camps shared that they were deprived of nutritious foods, according to Nepal Family Planning Association. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">More than 7,300 earthquake survivors underwent general health checkup in the camps. Among them, 944 were male and 6,355 were female. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 4,109 women were screened for cervical cancer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The health camps were conducted at Bheri municipality, Nalgad municipality, Barekot rural municipality and Kushe rural municipality of Jajarkot, as well as Athbiskot municipality and Sanibheri rural municipality of Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The association informed that the camp visitors had complained that they were deprived of adequate food intake while they were already affected badly by the quake. There was no proper housing either. It resulted into weak health condition, the association added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The women and children from Kushe and Barekot were suffering most from malnutrition. The adults there lacked awareness on the use of family planning contraceptives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor of Nalgad municipality, Dambar Rawat, admitted that there was threat to food security to the quake survivors. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Barekot rural municipality chair Bir Bahadur Giri and Mayor of Athbiskot municipality Rabi KC shared similar plight. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20138', 'image' => '20240305115951_20221113120329_GM_Doti-1.jpg', 'article_date' => '2024-03-05 11:59:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20410', 'article_category_id' => '1', 'title' => 'Import of Smart Watches Drops by 15 Percent to Rs 200 Million', 'sub_title' => '', 'summary' => 'March 5: Imports of smart watches has declined in Nepal of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 5: Imports of smart watches has declined in Nepal of late. According to the Department of Customs, smart watches worth Rs 200.6 million have been imported into Nepal in the first seven months of the current fiscal year. According to the department, 163,873 units of smart watches were imported during the review period.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the corresponding period of last fiscal year, 194,313 smart watches worth Rs 289. 9 million were imported into Nepal. Compared to the first seven months of last year, import of smart watches decreased by 15 percent in terms of volume and 30 percent in terms of value during the same period of this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Smart watches are being imported from different countries in Nepal. In the review period, Nepal imported smart watches from Canada, China, Hong Kong, India, Japan, Jordan, South Korea, Lebanon, Malaysia, the Netherlands, the Philippines, Portugal, Qatar, Saudi Arabia, Singapore, Spain, Taiwan, the United Arab Emirates, the United Kingdom, the United States of America, Uzbekistan, Vietnam and other countries, according to the data of the department.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The maximum quantity of smart watches were imported from China during this period. According to the Department of Customs, Nepal imported 155,362 smart watches worth Rs 174.8 million from China alone. Similarly, the data of the department shows that 7,791 smart watches worth Rs 13.5 million were imported from India.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20137', 'image' => '20240305113859_sm.jpg', 'article_date' => '2024-03-05 11:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20409', 'article_category_id' => '1', 'title' => 'Avalanche in Manang Causes Inconvenience to Locals and Tourists', 'sub_title' => '', 'summary' => 'March 5: An avalanche occurred at Dhukurpokhari of Ngisyang rural municipality in the district, causing inconvenience to people's movement. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: An avalanche occurred at Dhukurpokhari of Ngisyang rural municipality in the district, causing inconvenience to people's movement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It has become difficult for the locals as well as tourists to travel between upper and lower areas of Mustang.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer Subash Kumar Lamichhane informed that although the avalanche had not blocked the road, it was difficult for people to trek in the upper belt. The upper belt of the district had witnessed massive snowfall on Sunday night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Arrival of tourists has started here, but the avalanche has caused risk," said Dhak Bahadur Bhujel, district chief of Annapurna Conservation Area Project. Some 50 to 60 tourists visit the area daily. He further informed that the tourists were made aware about the risk caused by the avalanche. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20136', 'image' => '20240305110301_NabinLamichhane_Manang_RSS_22_Snow-IMG-20240304-WA0006.jpg', 'article_date' => '2024-03-05 11:02:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20408', 'article_category_id' => '1', 'title' => 'Newly Appointed Ministers Sworn In ', 'sub_title' => '', 'summary' => 'March 4: President Ram Chandra Paudel administered oath of the office and secrecy to three newly-appointed ministers on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 4: President Ram Chandra Paudel administered oath of the office and secrecy to three newly-appointed ministers on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Paudel, in accordance with Article 80 of the Constitution, administered oath of the office and secrecy to the newly-appointed ministers ammid a special programme organised at Sheetal Niwas on Monday. The three ministers were appointed upon the recommendation of Prime Minister Pushpa Kamal Dahal in accordance with Article 76 (9) of the Constitution. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Padam Giri from the CPN (UML), Hit Bahadur Tamang from the CPN (Maoist Centre) and Dol Prasad Aryal from the Rastriya Swatantra Party took the oath of office and secrecy. All the newly-appointed ministers are currently without portfolio. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the formation of the new cabinet, PM Dahal has taken the responsibilities of all the ministries, including Finance Ministry, Ministry of Industry, Commerce and Supplies, Ministry of Energy, Water Resources and Irrigation, Ministry of Law, Justice and Parliamentary Affairs, Ministry of Agriculture and Livestock Development, Ministry of Water Supply, Home Ministry, Foreign Ministry, Ministry of Land Management, Cooperative and Poverty Alleviation. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The new cabinet was formed in collaboration between the CPN Maoist Centre, CPN-UML, Rastriya Swatantra Party and Janata Samajbadi Party, leaving out the largest party in the parliament – the Nepali Congress.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice-President Ram Sahay Prasad Yadav, Speaker Devraj Ghimire, Chief Justice Bishwombhar Shrestha, among others were present during the swearing-in ceremony on Monday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20135', 'image' => '20240305103634_RS_KTM_CABINET_SAPATH_1709555022902(1).jpg', 'article_date' => '2024-03-05 10:35:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20407', 'article_category_id' => '1', 'title' => 'Global IME Bank Opens Branch in Mahottari', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">March 5: Global IME Bank Limited has opened a new branch at Gausala Municipality-5, Mahottari. The branch has started its operation from last Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Along with this, the total number of branches has reached 356. The bank has been rendering services through 379 ATMs, 275 branchless banking services, 65 extensions, revenue collection counters, and 3 foreign representative offices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank facilitates remittance from countries like the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, India, Jordan, Hong Kong, among others. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20134', 'image' => '20240305061554_collage (43).jpg', 'article_date' => '2024-03-05 06:14:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20406', 'article_category_id' => '1', 'title' => 'NOC Announces Komorebi as the Official Clothing Partner of Nepal for Paris Olympics', 'sub_title' => '', 'summary' => 'March 4: Nepal Olympic Committee (NOC) signed an agreement with French clothing brand Komorebi as the official clothing partner of Nepal for the upcoming Summer Olympics in Paris, France, NOC said in a statement.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 4: Nepal Olympic Committee (NOC) signed an agreement with French clothing brand Komorebi as the official clothing partner of Nepal for the upcoming Summer Olympics in Paris, France, NOC said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nilendra Raj Shrestha, NOC Secretary General, and Daniel Valetin, CEO for Komorebi, signed the agreement on behalf of their respective organizations on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Komorebi will provide sports dress to the members of the Nepalese team who will participate in the Paris Olympics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NOC, the partnership deal will last for four years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Komorebi will also provide uniforms to the Nepali team for competitions held under the International Olympic Committee and Olympic Council of Asia, the NOC added. These include Summer and Winter Olympics, Summer and Winter Asian Games, Summer and Winter Youth Olympics, Asian Beach Games and South Asian Games.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon the request of NOC, the Nepali players will be allowed to use the logos of other institutes on the uniforms provided by Komorebi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NOC President Jeevan Ram Shrestha and Nepal Judo Association President Deepak Harsha Bajracharya were also present at the signing ceremony held at the NOC headquarters in Satdobato.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On that occasion, NOC President Shrestha said that this contract has added a new dimension to Nepali sports.</span></span></p> ', 'published' => true, 'created' => '2024-03-04', 'modified' => '2024-03-04', 'keywords' => '', 'description' => '', 'sortorder' => '20133', 'image' => '20240304075739_423568589_1060557795244206_314829715368749780_n.jpg', 'article_date' => '2024-03-04 19:56:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20405', 'article_category_id' => '1', 'title' => 'SSF Collects Rs 51 Billion in Five Years', 'sub_title' => '', 'summary' => 'March 4: The government’s Social Security Fund has accumulated about Rs 51 billion in a period of five years since the launch of the contribution-based scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 4: The government’s Social Security Fund has accumulated about Rs 51 billion in a period of five years since the launch of the contribution-based scheme.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of Sunday, the SSF has collected Rs 50.84 billion from the contributors and employers listed in the fund. The fund has increased investment in various sectors according to its policy to diversify investment. According to social security fund investment procedures, the fund has invested in fixed deposits, shares, debentures, treasury bills, capital market, mutual funds, etc.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A large part of the accumulated amount is kept by the fund in the fixed deposit accounts of the banks. The fund earns 9 percent interest from the amount kept as fixed deposits. Banks can invest that amount according to their preference. SSF officials claim that this will help eliminate liquidity shortages in the market from time to time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The fund is investing rapidly in development bonds as well. The fund is also giving loans to the contributors. Contributors are given special loans based on the contribution amount in addition to housing grants for housing construction, and educational grants to support the development of human capital. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SSF Spokesperson Bibek Panthi informed New Business Age that the funds collected are being invested in various sectors and mobilized for the benefit of the contributors to achieve high, sustainable and assured returns. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There is a provision that the SSF can invest in large projects, but so far it has not been able to invest in such projects. According to Panthi, it is currently under study. SSF officials believe that there is a little 'risk' in investing in such projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Targeting private sector workers, the then KP Sharma Oli-led government had formally announced the launch of contribution-based social security fund on November 27, 2018. The SSF started collecting money from the contributors from the beginning of the next fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">1,170,000 contributors join SSF</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of March 2, a total of 18,731 employers and 1,170,838 contributors have joined the SSF. The largest number of contributors is the Nepali migrant workers who go for foreign employment. The number of such contributors stands at 686,192. The SSF informed that 74 contributors are self-employed, which is the least among all groups. According to the fund, there are 484450 contributors from the formal sector and 122 workers from the informal sector who joined the SSF. Since it is a mandatory to join the SSF before getting a work permit for foreign employment, every person who goes abroad has joined the state-sponsored scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, officials say that the number of Nepalis who go abroad and continue contributing to the fund has not increased. Those who go for foreign employment must deposit Rs 2300 to the fund before getting a work permit. The self-employed must contribute 31 percent of the minimum wage to the fund. However, those contributing to the fund from overseas is not encouraging.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Increasing claim payments</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SSF informed that it has settled claims of more than Rs 7.72 billion made by 1.5 million contributors under four different schemes, namely medical treatment, health and maternity plan, accident and disability protection plan, dependent family protection plan and old age protection plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Out of the amount collected in the fund, Rs 923.15 million have been paid to 54910 people for medical treatment, health and maternity schemes. Similarly, Rs 108.76 million have been paid to 2826 people under accident and disability protection scheme.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, Rs 126.85 million have been paid to 461 people under the dependent family protection scheme. According to the fund, Rs 6.56 billion have been paid to more than 70,000 people under the Old Age Protection Scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the fund, the process of revising the procedure has been advanced to include the families of the contributors under medical treatment. Officials said that a decision will be made within the next week.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-03-04', 'modified' => '2024-03-04', 'keywords' => '', 'description' => '', 'sortorder' => '20132', 'image' => '20240304041519_SSF (1).jpg', 'article_date' => '2024-03-04 16:14:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20421', 'article_category_id' => '1', 'title' => 'Shift in Power Equation Likely to Affect Budget Implementation', 'sub_title' => '', 'summary' => 'March 6: The political instability in the country has posed a threat to the next year's budget preparation as well as the implementation of the current fiscal year's budget.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">March 6: The political instability in the country has posed a threat to the next year's budget preparation as well as the implementation of the current fiscal year's budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Prime Minister Pushpa Kamal Dahal has reshuffled the cabinet after breaking the alliance with the Nepali Congress and forged a new coalition with the CPN-UML, Rashtriya Swatantra Party (RSP), and Janata Samajwadi Party (JSP).</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">With the new parties joining the government, there is a heightened risk that the priorities, principles, policies and programs of the government will be changed and the current budget will not get prioritiy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Outgoing Minister for Finance Dr Prakash Sharan Mahat had brought the budget for the current fiscal year. The budget has not been implemented effectively. Now, with the formation of a new power equation and the finance minister coming from a different party, there are very slim chances of programs of the former finance minister being prioritized. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The new finance minister will likely try to change the team of the ministry and that will weaken the implementation of the current budget. There has been a trend of every finance minister transferring high-ranking officials of the ministry, including the finance secretary and the revenue secretary, immediately after taking charge of the ministry. Most of the finance ministers choose a finance secretary who works under their directive. In the last two years, the government has changed about half a dozen finance secretaries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Outgoing finance minister Mahat appointed Krishna Hari Pushkar as the new finance secretary on September 15 last year. Mahat had changed three finance secretaries within 5 months after becoming the finance minister. Arjun Prasad Pokharel was the finance secretary before Pushkar. Toyam Raya held this position for about 4 months before Pokharel became Finance Secretary on May 3. Pushkar was the finance secretary before Raya. When the then finance minister Janardan Sharma brought the budget for the year 2079/80, Madhu Marasini, who was the finance secretary, was transferred after getting involved in a controversy of changing the tax rate in the budget due to the entry of unauthorized persons. Pushkar, who was appointed finance secretary on August 11, 2022, was replaced by Raya on January 5, 2022.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The staff leadership of the Ministry of Finance, which has the responsibility of keeping the economy of the country in balance, has become like a 'musical chair'. Now the incoming finance minister can repeat the same practice. This may seriously affect the implementation of the current budget.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">According to sources close to the Maoists, since the Prime Minister wants to keep the Ministry of Finance under his party, the ruling parties have agreed to appoint Barshman Pun taking charge as the finance minister. Pun is not an economists. The current budget may not be the priority of the new finance minister.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">Dr. Mahat had announced a budget of Rs 1751 billion for the current year. So far, the government has spent Rs 752 billion. This year, the target is to spend Rs 1141 billion under the heading of current expenditure but the government has spent only 48.54 percent (554 billion) under this heading.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">So far, the capital expenditure of the government is only 24.54 percent (Rs 73 billion) of the allocated budget of Rs 302 billion.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The data of the Ministry of Finance shows that 40.60 percent (Rs 124 billion) has been spent out of the allocated budget of Rs 307 billion under the heading of financial management. A little more than four months is left for the current fiscal year to end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">This year, the government had set a target of collecting revenue of Rs 1422 billion, but has collected Rs 605 billion percent (42.60 percent). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">The government had scheduled to discuss the priorities and principles of the budget for the upcoming fiscal year 2081/82 in the parliament, but with the change in the power equation on Monday, the parliament was adjourned until March 7. It seems that the Parliament cannot hold a meeting until the balance of power is settled.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:16.0pt">In order to make the implementation of the budget effective by improving the system of the budget, the Dahal-led government brought the law through an ordinance and started the practice of introducing the principles and priorities of the budget three months before the budget is presented in the parliament. However, due to the change in the power equation, it has not been able to discuss the issue in the parliament. There is a risk that the discussion on this matter will be affected in the House due to the prolonged tug-of-war.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20148', 'image' => '20240306030131_budget.jpg', 'article_date' => '2024-03-06 15:00:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '20420', 'article_category_id' => '1', 'title' => 'Gold Price Breaks Yet Another Record', 'sub_title' => '', 'summary' => 'March 6: Just a day after breaking a new record, the price of hallmark gold has reached an all-time high of Rs 123,500 per tola (11.66 grams) in the domestic market on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 6: Just a day after breaking a new record, the price of hallmark gold has reached an all-time high of Rs 123,500 per tola (11.66 grams) in the domestic market on Wednesday. The price of the precious yellow metal increased by Rs 500 per tola compared to Tuesday when it was traded for Rs 123,000 per tola. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Federation of Nepal Gold and Silver Dealers Association, worked gold is being traded at Rs 122,900 per tola on Wednesday against Rs 122,400 on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the price of silver has decreased by Rs 5 per tola and reached Rs 1,440 per tola. Earlier on December 28, 2023, the price of gold had set a record reaching Rs 122,000 per tola. The Federation determines the price of gold and silver based on the price in the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gold is being traded in the international market at 2126 dollars per ounce at present, the Federation said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20147', 'image' => '20240306010357_gold newwww.jpg', 'article_date' => '2024-03-06 13:03:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20419', 'article_category_id' => '1', 'title' => 'Electricity Trade Deal with Bangladesh Likely Next Month', 'sub_title' => '', 'summary' => 'March 6: The Government of Bangladesh has agreed to import 40 MW of electricity from Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 6: The Government of Bangladesh has agreed to import 40 MW of electricity from Nepal. The concerned authorities of the two countries will sign an agreement to this effect next month. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Minister of State for Energy and Minerals of Bangladesh, Nasrul Hamid, reportedly said that Bangladesh is preparing to import 9,000 megawatts of electricity from neighboring countries and said that there is a possibility of an agreement to import 40 megawatts from Nepal next month.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Bangladeshi media, Hamid said that Bangladesh and India will work together for the development of the energy sector. During a meeting with Pranay Berma of the Indian High Commission in Bangladesh, the Indian side responded positively regarding the process of importing electricity from Nepal, said Hamid.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“Good progress has been made in the process of bringing hydropower from Nepal and Bhutan.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">He said that it is almost certain to import 500 megawatts of electricity from Nepal through the Indian company GMR and work is also underway to import renewable energy. Hamid said that if there is a dedicated line from Nepal to Bangladesh, electricity trade will accelerate and it will also benefit India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Two weeks ago, a team of Nepal Electricity Authority reached Dhaka, the capital of Bangladesh, for the electricity trade agreement between the two countries. The authority's team said that although the electricity sales negotiations with Bangladesh Power Development Board (BPDB) have progressed positively, the price has not been finalized. The NEA said that another agreement would be reached soon to finalize the price and the purchase and sale of electricity.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Semant Dahal, a lawyer who reached Dhaka for discussions with the NEA team, said the final agreement will be signed next month to export 40 megawatts of electricity from upcoming June.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The authority has sent a proposal to Bangladesh to export up to 40 megawatts of electricity for the six months of the rainy season from June 15 to November 15 every year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal will export electricity to Bangladesh via India's Baharampur-Bheramara and Dhalkewar-Muzaffarpur transmission lines under a five year contract.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20146', 'image' => '20240306115342_20240223021605_banglad.jpg', 'article_date' => '2024-03-06 11:53:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20418', 'article_category_id' => '1', 'title' => 'Entrepreneurs Urge Government to Help Export Nepali Products ', 'sub_title' => '', 'summary' => 'March 5: Entrepreneurs have sought support from the government to export Nepali products to India. The business fraternity made the plea after India caused obstacles to the export of Nepali products by showing different reasons. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Entrepreneurs have sought support from the government to export Nepali products to India. The business fraternity made the plea after India caused obstacles to the export of Nepali products by showing different reasons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at an interaction during the 'Nepal-India economic partnership conference' held at Bhairahawa on Tuesday, various stakeholders talked about the obstacles India has been putting in the export of Nepali goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the Lumbini province chapter of the Confederation of Nepalese Industries, Ezaz Alam said, "India was impeding the export of soap earlier and now cement." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the Indian side has been questioning the quality of Nepali goods, including herbal products and cement being exported to India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the speakers voiced their concerns stating that the customs staffers and security personnel of both the countries along the border have been misbehaving with business persons. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking on the occasion, Chairperson of Lumbini province chapter of the Federation of Nepalese Chambers of Commerce and Industry Krishna Prasad Sharma said, "The problem should be resolved in collaboration between the business fraternities of both the countries." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the concerned agencies to take initiative to setup a quarantine office at Lucknow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former Ambassador of Nepal to India Manjeev Singh Puri urged the business persons to pay attention to the production of quality goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Representatives from Nepali and Indian business organizations and associations took part in the conference. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20145', 'image' => '20240306110908_20180205113518_Clipboard46.jpg', 'article_date' => '2024-03-06 11:08:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20417', 'article_category_id' => '1', 'title' => 'PADT Prepares for Shivaratri Celebrations', 'sub_title' => '', 'summary' => 'The Pashupatinath Area Development Trust (PADT) is gearing up for the celebrations of Mahashivaratri festival this year. The festival, dedicated to the Hindu god Shiva, is being observed on March 8.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">March 6: The Pashupatinath Area Development Trust (PADT) is gearing up for the celebrations of Mahashivaratri festival this year. The festival, dedicated to the Hindu god Shiva, is being observed on March 8.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sadhus and the devouts have started arriving in the Pashupatinath area for the Shivaratri festivities. The PADT has announced a ban on the supply of meat products and alcoholic beverages around the temple area, starting from today Wednesday in view of the festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The District Administration Office, Kathmandu, issued a notice regarding the ban on the supply of meat products in specific areas: east from the Gaushala Mitrapark roadway, west from the east border of the Pashupati area, north from the Gaushala Tilganga ring road, and the entire southern area from Guheshwori via Mitrapark-Umakund-Gaurighat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This restriction will remain in force until March 10. The ban aims to observe the festival in a dignified manner, respecting the religious, cultural significance, and the sanctity of the Pashupatinath area. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Production, transportation, sale, purchase, storage, and consumption of alcohol and meat have been prohibited in the vicinity of the Pashupatinath Temple in view of the Shivaratri festival. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The area is being decorated in preparation for the festival, according to PADT member-secretary Raju Kumar Khatri. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This year, the PADT expects around two million devotees to visit the temple on the occasion of Mahashivaratri. </span></span><br /> <span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">It said that all necessary arrangements have been made to ensure devotees can pay homage to the Hindu god conveniently. However, there is no provision for a special pass to enter the temple to observe Mahashivaratri this year. (RSS) </span></span><br /> </p> ', 'published' => true, 'created' => '2024-03-06', 'modified' => '2024-03-06', 'keywords' => '', 'description' => '', 'sortorder' => '20144', 'image' => '20240306060342_collage (44).jpg', 'article_date' => '2024-03-06 06:01:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '20416', 'article_category_id' => '1', 'title' => 'Gold Price Hits New Record ', 'sub_title' => '', 'summary' => 'March 5: The price of gold has reached an all-time high of Rs 123,000 per tola (11.66 grams) in the domestic market of Nepal on Tuesday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: The price of gold has reached an all-time high of Rs 123,000 per tola (11.66 grams) in the domestic market of Nepal on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers Association, the price of hallmark gold has reached Rs 123,000 per tola on Tuesday with the rise in price by Rs 2,000 per tola. The precious yellow metal was traded at Rs 121,000 per tola on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Federation, worked gold is being traded at Rs 122,400 per tola on Tuesday against Rs 120,400 on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier on December 28, 2023, the price of the precious yellow metal had set a record after reaching Rs 122,000 per tola. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federation determines the price of gold and silver based on the price in the international market. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the price of silver has increased by Rs 35 per tola and reached Rs 1,445 per tola.</span> -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20143', 'image' => '20240305034441_gold newwww.jpg', 'article_date' => '2024-03-05 15:43:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20415', 'article_category_id' => '1', 'title' => 'Habitat Loss Causes Sharp Decline in Number of Birds in Koshitappu ', 'sub_title' => '', 'summary' => 'March 5: Increasing pollution and haphazard use of pesticides in crops have contributed to the decline in the number of birds in the Koshitappu Wildlife Reserve (KWR) and its vicinity. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Increasing pollution and haphazard use of pesticides in crops have contributed to the decline in the number of birds in the Koshitappu Wildlife Reserve (KWR) and its vicinity. Stakeholders said human activities have caused loss of birds' habitats. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Mid-Winter Water Birds Census, 2024 has recorded the number of birds at 5,527. They were 53 species of birds. The number last year was 7,573 and the species were 56. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although new species of birds arrive every year in Nepal, both the number and species declined this year, said Birendra Gautam, chief of Koshi Conservation Office under the National Nature Conservation Trust. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The result of the bird census conducted for five days since January 10 was made public on the World Wetland Day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Most of the birds are of duck species- 848. The birds dependent on water are facing shortage of wetlands, which have deprived them of habitat, Gautam added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gautam further claimed, "Severe decline in number of birds is directly related to expanding human settlement and unwarranted activities." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The marshlands are now turned into motorable roads. It is grave threat to the birds. The marshland used to welcome the birds even from Siberia, Russia. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the human activities were contained in the wake of COVID-19, the census had witnessed huge rise in the avian presence. There were 9,289 birds in 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal witnesses the arrival of migratory birds from mid-September to mid-December every year, who arrive here to avoid the harsh winter in the northern hemisphere. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The KWR located at the tri-junction of Sunsari, Saptari and Udayapur districts is a birds' haven. Some 50 species of migratory birds leave for India, Pakistan and Sri Lanka via Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The avian migration makes transit to various other areas such as Chitwan National Park, Bishajari Lake, Jagdishpur Lake, Ghodaghodi Lake, Shuklaphanta Wildlife Reserve and tributaries of the Koshi and Gandaki rivers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thousands of winter birds also arrive in Nepal from southern countries, including Africa for hatching. The winter birds, however, find habitants in forest and nearby grasslands. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20142', 'image' => '20240305033702_20231118103704_KA_BHARATPUR_IMG_8698.jpg', 'article_date' => '2024-03-05 15:36:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '20414', 'article_category_id' => '1', 'title' => 'Banks Use Standing Deposit Facility worth Rs 400 Billion in Three Weeks', 'sub_title' => '', 'summary' => 'March 5: Banks and Financial Institutions (BFIs) have taken standing deposit facility of almost Rs 400 billion in three weeks.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 5: Banks and Financial Institutions (BFIs) have taken standing deposit facility of almost Rs 400 billion in three weeks. As the credit flow of banks have not increased in proportion to the increase in deposit collection, BFIs have started using the standing deposit facility provided by Nepal Rastra Bank for liquidity management.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to Nepal Rastra Bank, banks have taken standing deposit facility of Rs 421 billion as of Sunday. Out of that amount, Rs 166 billion is still with the central bank. On Sunday alone, banks deposited Rs 123.80 billion in Nepal Rastra Bank.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the standing deposit facility implemented by the central bank from February 14, banks can keep their excess liquidity in the central bank as deposits. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Banks get 3 percent interest rate when investing in the standing deposit facility. Banks are allowed to deposit excess liquidity twice a week on every Sunday and Wednesday. The average interbank interest rate has remained above 3 percent with the increase in the use of standing deposit facility.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the 'Interest Rate Corridor Procedure - 2076', there is an arrangement for the central bank to set the upper limit of bank rate and the lower limit of deposit collection rate and keep the interbank interest rate in between. For this, Nepal Rastra Bank can use various monetary instruments for liquidity flow and mopping excess liquidity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The central bank introduced the standing deposit facility as per the announcement made in the monetary policy of the current fiscal year in order to make the interest rate corridor effective.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the current fiscal year, bank deposits have increased by Rs 397 billion, while credit flow increased by Rs 208 billion only. As of Friday, banks have collected deposits of Rs 6168 billion and provided loans of Rs 5086 billion. On Friday, the average credit-deposit ratio (CD ratio) of banks was 80.04 percent. According to the provision that banks can provide loans by maintaining a CD ratio of up to 90 percent, they still have the capacity to provide loans of more than Rs 600 billion.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20141', 'image' => '20240305013016_bankkkkkk.jpg', 'article_date' => '2024-03-05 13:28:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20411', 'article_category_id' => '1', 'title' => 'Women, Children in Quake-Hit Districts Suffer from Malnutrition ', 'sub_title' => '', 'summary' => 'March 5: Women and children of earthquake-hit districts of western Nepal have been suffering from malnutrition. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: Women and children of earthquake-hit districts of western Nepal have been suffering from malnutrition. It was found during health camps conducted at different places of the quake-hit districts including Jajarkot, Rukum West and Salyan in the last three months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 46 health camps were organized under the 'minimum health service programme' launched in the disaster-hit districts. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The women and children visiting the health camps shared that they were deprived of nutritious foods, according to Nepal Family Planning Association. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">More than 7,300 earthquake survivors underwent general health checkup in the camps. Among them, 944 were male and 6,355 were female. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, 4,109 women were screened for cervical cancer. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The health camps were conducted at Bheri municipality, Nalgad municipality, Barekot rural municipality and Kushe rural municipality of Jajarkot, as well as Athbiskot municipality and Sanibheri rural municipality of Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The association informed that the camp visitors had complained that they were deprived of adequate food intake while they were already affected badly by the quake. There was no proper housing either. It resulted into weak health condition, the association added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The women and children from Kushe and Barekot were suffering most from malnutrition. The adults there lacked awareness on the use of family planning contraceptives. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mayor of Nalgad municipality, Dambar Rawat, admitted that there was threat to food security to the quake survivors. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Barekot rural municipality chair Bir Bahadur Giri and Mayor of Athbiskot municipality Rabi KC shared similar plight. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20138', 'image' => '20240305115951_20221113120329_GM_Doti-1.jpg', 'article_date' => '2024-03-05 11:59:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20410', 'article_category_id' => '1', 'title' => 'Import of Smart Watches Drops by 15 Percent to Rs 200 Million', 'sub_title' => '', 'summary' => 'March 5: Imports of smart watches has declined in Nepal of late.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 5: Imports of smart watches has declined in Nepal of late. According to the Department of Customs, smart watches worth Rs 200.6 million have been imported into Nepal in the first seven months of the current fiscal year. According to the department, 163,873 units of smart watches were imported during the review period.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In the corresponding period of last fiscal year, 194,313 smart watches worth Rs 289. 9 million were imported into Nepal. Compared to the first seven months of last year, import of smart watches decreased by 15 percent in terms of volume and 30 percent in terms of value during the same period of this year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Smart watches are being imported from different countries in Nepal. In the review period, Nepal imported smart watches from Canada, China, Hong Kong, India, Japan, Jordan, South Korea, Lebanon, Malaysia, the Netherlands, the Philippines, Portugal, Qatar, Saudi Arabia, Singapore, Spain, Taiwan, the United Arab Emirates, the United Kingdom, the United States of America, Uzbekistan, Vietnam and other countries, according to the data of the department.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The maximum quantity of smart watches were imported from China during this period. According to the Department of Customs, Nepal imported 155,362 smart watches worth Rs 174.8 million from China alone. Similarly, the data of the department shows that 7,791 smart watches worth Rs 13.5 million were imported from India.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20137', 'image' => '20240305113859_sm.jpg', 'article_date' => '2024-03-05 11:38:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20409', 'article_category_id' => '1', 'title' => 'Avalanche in Manang Causes Inconvenience to Locals and Tourists', 'sub_title' => '', 'summary' => 'March 5: An avalanche occurred at Dhukurpokhari of Ngisyang rural municipality in the district, causing inconvenience to people's movement. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 5: An avalanche occurred at Dhukurpokhari of Ngisyang rural municipality in the district, causing inconvenience to people's movement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It has become difficult for the locals as well as tourists to travel between upper and lower areas of Mustang.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Chief District Officer Subash Kumar Lamichhane informed that although the avalanche had not blocked the road, it was difficult for people to trek in the upper belt. The upper belt of the district had witnessed massive snowfall on Sunday night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Arrival of tourists has started here, but the avalanche has caused risk," said Dhak Bahadur Bhujel, district chief of Annapurna Conservation Area Project. Some 50 to 60 tourists visit the area daily. He further informed that the tourists were made aware about the risk caused by the avalanche. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20136', 'image' => '20240305110301_NabinLamichhane_Manang_RSS_22_Snow-IMG-20240304-WA0006.jpg', 'article_date' => '2024-03-05 11:02:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '20408', 'article_category_id' => '1', 'title' => 'Newly Appointed Ministers Sworn In ', 'sub_title' => '', 'summary' => 'March 4: President Ram Chandra Paudel administered oath of the office and secrecy to three newly-appointed ministers on Monday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 4: President Ram Chandra Paudel administered oath of the office and secrecy to three newly-appointed ministers on Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Paudel, in accordance with Article 80 of the Constitution, administered oath of the office and secrecy to the newly-appointed ministers ammid a special programme organised at Sheetal Niwas on Monday. The three ministers were appointed upon the recommendation of Prime Minister Pushpa Kamal Dahal in accordance with Article 76 (9) of the Constitution. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Padam Giri from the CPN (UML), Hit Bahadur Tamang from the CPN (Maoist Centre) and Dol Prasad Aryal from the Rastriya Swatantra Party took the oath of office and secrecy. All the newly-appointed ministers are currently without portfolio. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the formation of the new cabinet, PM Dahal has taken the responsibilities of all the ministries, including Finance Ministry, Ministry of Industry, Commerce and Supplies, Ministry of Energy, Water Resources and Irrigation, Ministry of Law, Justice and Parliamentary Affairs, Ministry of Agriculture and Livestock Development, Ministry of Water Supply, Home Ministry, Foreign Ministry, Ministry of Land Management, Cooperative and Poverty Alleviation. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The new cabinet was formed in collaboration between the CPN Maoist Centre, CPN-UML, Rastriya Swatantra Party and Janata Samajbadi Party, leaving out the largest party in the parliament – the Nepali Congress.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice-President Ram Sahay Prasad Yadav, Speaker Devraj Ghimire, Chief Justice Bishwombhar Shrestha, among others were present during the swearing-in ceremony on Monday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20135', 'image' => '20240305103634_RS_KTM_CABINET_SAPATH_1709555022902(1).jpg', 'article_date' => '2024-03-05 10:35:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20407', 'article_category_id' => '1', 'title' => 'Global IME Bank Opens Branch in Mahottari', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">March 5: Global IME Bank Limited has opened a new branch at Gausala Municipality-5, Mahottari. The branch has started its operation from last Thursday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Along with this, the total number of branches has reached 356. The bank has been rendering services through 379 ATMs, 275 branchless banking services, 65 extensions, revenue collection counters, and 3 foreign representative offices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank facilitates remittance from countries like the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, India, Jordan, Hong Kong, among others. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-03-05', 'modified' => '2024-03-05', 'keywords' => '', 'description' => '', 'sortorder' => '20134', 'image' => '20240305061554_collage (43).jpg', 'article_date' => '2024-03-05 06:14:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '20406', 'article_category_id' => '1', 'title' => 'NOC Announces Komorebi as the Official Clothing Partner of Nepal for Paris Olympics', 'sub_title' => '', 'summary' => 'March 4: Nepal Olympic Committee (NOC) signed an agreement with French clothing brand Komorebi as the official clothing partner of Nepal for the upcoming Summer Olympics in Paris, France, NOC said in a statement.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 4: Nepal Olympic Committee (NOC) signed an agreement with French clothing brand Komorebi as the official clothing partner of Nepal for the upcoming Summer Olympics in Paris, France, NOC said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nilendra Raj Shrestha, NOC Secretary General, and Daniel Valetin, CEO for Komorebi, signed the agreement on behalf of their respective organizations on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the agreement, Komorebi will provide sports dress to the members of the Nepalese team who will participate in the Paris Olympics.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NOC, the partnership deal will last for four years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Komorebi will also provide uniforms to the Nepali team for competitions held under the International Olympic Committee and Olympic Council of Asia, the NOC added. These include Summer and Winter Olympics, Summer and Winter Asian Games, Summer and Winter Youth Olympics, Asian Beach Games and South Asian Games.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Upon the request of NOC, the Nepali players will be allowed to use the logos of other institutes on the uniforms provided by Komorebi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NOC President Jeevan Ram Shrestha and Nepal Judo Association President Deepak Harsha Bajracharya were also present at the signing ceremony held at the NOC headquarters in Satdobato.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On that occasion, NOC President Shrestha said that this contract has added a new dimension to Nepali sports.</span></span></p> ', 'published' => true, 'created' => '2024-03-04', 'modified' => '2024-03-04', 'keywords' => '', 'description' => '', 'sortorder' => '20133', 'image' => '20240304075739_423568589_1060557795244206_314829715368749780_n.jpg', 'article_date' => '2024-03-04 19:56:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20405', 'article_category_id' => '1', 'title' => 'SSF Collects Rs 51 Billion in Five Years', 'sub_title' => '', 'summary' => 'March 4: The government’s Social Security Fund has accumulated about Rs 51 billion in a period of five years since the launch of the contribution-based scheme.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">March 4: The government’s Social Security Fund has accumulated about Rs 51 billion in a period of five years since the launch of the contribution-based scheme.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of Sunday, the SSF has collected Rs 50.84 billion from the contributors and employers listed in the fund. The fund has increased investment in various sectors according to its policy to diversify investment. According to social security fund investment procedures, the fund has invested in fixed deposits, shares, debentures, treasury bills, capital market, mutual funds, etc.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A large part of the accumulated amount is kept by the fund in the fixed deposit accounts of the banks. The fund earns 9 percent interest from the amount kept as fixed deposits. Banks can invest that amount according to their preference. SSF officials claim that this will help eliminate liquidity shortages in the market from time to time. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The fund is investing rapidly in development bonds as well. The fund is also giving loans to the contributors. Contributors are given special loans based on the contribution amount in addition to housing grants for housing construction, and educational grants to support the development of human capital. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SSF Spokesperson Bibek Panthi informed New Business Age that the funds collected are being invested in various sectors and mobilized for the benefit of the contributors to achieve high, sustainable and assured returns. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There is a provision that the SSF can invest in large projects, but so far it has not been able to invest in such projects. According to Panthi, it is currently under study. SSF officials believe that there is a little 'risk' in investing in such projects. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Targeting private sector workers, the then KP Sharma Oli-led government had formally announced the launch of contribution-based social security fund on November 27, 2018. The SSF started collecting money from the contributors from the beginning of the next fiscal year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">1,170,000 contributors join SSF</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">As of March 2, a total of 18,731 employers and 1,170,838 contributors have joined the SSF. The largest number of contributors is the Nepali migrant workers who go for foreign employment. The number of such contributors stands at 686,192. The SSF informed that 74 contributors are self-employed, which is the least among all groups. According to the fund, there are 484450 contributors from the formal sector and 122 workers from the informal sector who joined the SSF. Since it is a mandatory to join the SSF before getting a work permit for foreign employment, every person who goes abroad has joined the state-sponsored scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, officials say that the number of Nepalis who go abroad and continue contributing to the fund has not increased. Those who go for foreign employment must deposit Rs 2300 to the fund before getting a work permit. The self-employed must contribute 31 percent of the minimum wage to the fund. However, those contributing to the fund from overseas is not encouraging.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Increasing claim payments</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SSF informed that it has settled claims of more than Rs 7.72 billion made by 1.5 million contributors under four different schemes, namely medical treatment, health and maternity plan, accident and disability protection plan, dependent family protection plan and old age protection plan. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Out of the amount collected in the fund, Rs 923.15 million have been paid to 54910 people for medical treatment, health and maternity schemes. Similarly, Rs 108.76 million have been paid to 2826 people under accident and disability protection scheme.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, Rs 126.85 million have been paid to 461 people under the dependent family protection scheme. According to the fund, Rs 6.56 billion have been paid to more than 70,000 people under the Old Age Protection Scheme. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the fund, the process of revising the procedure has been advanced to include the families of the contributors under medical treatment. Officials said that a decision will be made within the next week.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-03-04', 'modified' => '2024-03-04', 'keywords' => '', 'description' => '', 'sortorder' => '20132', 'image' => '20240304041519_SSF (1).jpg', 'article_date' => '2024-03-04 16:14:34', '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
