Global IME Bank Launches Branchless Service in Pancthar

Feb 22, 2024 0 50 seconds to read

Global IME Bank Limited has launched branchless banking service in Ward No. 12, Deri Bazaar of Panchthar Municipality. Along with this, the number of branchless banking services of the bank has reached…

Nepal SBI Bank Plants Trees in Pashupatinath Temple

Feb 22, 2024 0 52 seconds to read

Nepal SBI Bank Limited recently conducted tree plantation in the premises of Pashupatinath Temple in Kathmandu. The tree plantation was carried out by the bank in the presence of the Managing Director of State Bank of India (Risk, Compliance, and Audit) Alok Kumar…

Bharatpur Stands First in Performance Evaluation among Six Metropolises

Feb 22, 2024 0 1 minutes 41 seconds to read

February 22: Bharatpur Metropolitan City has been declared the best metropolis in performance evaluation among six metropolitan cities across the…

NEA Team Off to Dhaka to Finalize Electricity Deal

Feb 22, 2024 0 3 minutes 31 seconds to read

February 22: A team of Nepal Electricity Authority has reached Dhaka, the capital of Bangladesh, to finalize the export of 40 megawatts of electricity to Bangladesh from the upcoming monsoon…

Lumbini Provincial Hospital Best Government Hospital in the Country

Feb 22, 2024 0 1 minutes 19 seconds to read

February 22: Butwal-based Lumbini Provincial Hospital has been declared the best among the government hospitals in the country.…

Government to Invite Billionaires from Adani to Musk for the Investment Summit

Feb 22, 2024 0 3 minutes 11 seconds to read

February 22: The Government of Nepal has sent invitation to rich and famous people of the world to participate in the Third Investment Summit to be held in Kathmandu on April 28 and…

Foreign Investment Commitments Hit All-Time Low in mid-January to mid-February in Current FY

Feb 22, 2024 0 2 minutes 34 seconds to read

February 22: Foreign investors pledged the least foreign direct investment (FDI) for Nepal in a one-month period from mid-January to mid-February compared to other months of the current fiscal…

Over 150,000 Cases yet to be Settled in Courts Across Nepal

Feb 22, 2024 0 2 minutes 15 seconds to read

February 22: A total of 158,147 cases remain to be settled in the Supreme Court and subordinate courts and…

Possibility of Light Rain and Snowfall Today

Feb 22, 2024 0 1 minutes 8 seconds to read

February 22: The weather of the country will remain partly to generally cloudy today due to the influence of the westerly low pressure system, according to the Weather Forecasting…

Nepal’s Trade Deficit Stands at Rs 811 Billion in First Seven Months of Current FY

Feb 21, 2024 0 2 minutes 47 seconds to read

February 21: The country experienced ballooning trade deficit of Rs 811.11 billion in the first seven months of the current fiscal year.…

EU Announces 50-Year Celebration of Nepal-EU Diplomatic Ties

Feb 21, 2024 0 2 minutes 37 seconds to read

The European Union (EU) has announced a year-long celebration to mark 50 years of diplomatic relations between Nepal and the EU. Organizing a press conference in the capital recently, EU Ambassador to Nepal Veronique Lorenzo announced various activities that the EU plans to organize in Nepal to mark the 50th anniversary of diplomatic…

Foreign Aid to Nepal Shrinking due to Government’s Inability to Mobilize the Funds

Feb 21, 2024 0 3 minutes 19 seconds to read

February 21: Foreign grants provided by the donor agencies have been declining due to the decline in the capacity of the Government of Nepal to mobilize the foreign…

Govt Forms Committees to Study Operation of Int'l Airports, Restructure NAC

Feb 21, 2024 0 3 minutes 25 seconds to read

February 20: The government has formed a committee under the coordination of former Secretary Shankar Prasad Adhikari to study the prospects of construction and operation of international airports on public-private partnership…

Number of Problematic Cooperatives Reaches Eighteen

Feb 21, 2024 0 2 minutes 10 seconds to read

February 21: The number of cooperatives declared problematic by the government has reached one and a half dozen.…

NRB urges General Public not to get Swayed by Rumors about Banking Sector

Feb 21, 2024 0 2 minutes 21 seconds to read

February 21: Nepal Rastra Bank (NRB) has assured that the money deposited in banks are…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
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NEPSE

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			'article_category_id' => '1',
			'title' => 'Global IME Bank Launches Branchless Service in Pancthar',
			'sub_title' => '',
			'summary' => 'Global IME Bank Limited has launched branchless banking service in Ward No. 12, Deri Bazaar of Panchthar Municipality. Along with this, the number of branchless banking services of the bank has reached 275.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 22: Global IME Bank Limited has launched branchless banking service in Ward No. 12, Deri Bazaar of Panchthar Municipality. Along with this, the number of branchless banking services of the bank has reached 275.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Deputy Mayor Radhakrishna Neupane of Panchthar Municipality, Ward Chairman Kamal Prasad Chapagai of Ward No. 12, and Assistant General Manager Dilip Pokharel of the bank jointly inaugurated the branchless service.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Locals of the rural vicinity are expected to access various banking services from the new service point.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Services such as opening savings accounts, depositing up to a certain limit, withdrawing funds, inquiring about the balance in their accounts, paying loan interests, and other services will be available from the newly-launched banking service. </span></span></p>

<p>&nbsp;</p>
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			'title' => 'Nepal SBI Bank Plants Trees in Pashupatinath Temple',
			'sub_title' => '',
			'summary' => 'Nepal SBI Bank Limited recently conducted tree plantation in the premises of Pashupatinath Temple in Kathmandu. The tree plantation was carried out by the bank in the presence of the Managing Director of State Bank of India (Risk, Compliance, and Audit) Alok Kumar Chaudhary.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 22: Nepal SBI Bank Limited recently conducted tree plantation in the premises of Pashupatinath Temple in Kathmandu. The tree plantation was carried out by the bank in the presence of the Managing Director of State Bank of India (Risk, Compliance, and Audit) Alok Kumar Chaudhary.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Chief Operating Officer of the bank, Yadabendra Kant, the bank&#39;s consultant Chhabiraj Pant, the Chief Business Development Officer of the bank Ritesh Aryal, and other officials of the bank participated in the program. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&ldquo;The bank planted the trees in the premises of the sacred site under its corporate social responsibility,&rdquo; the bank said.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has been providing services through 97 branches, 22 extension counters, seven provincial offices, and one corporate office, along with 121 ATMs.</span></span></p>
',
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			'id' => '20319',
			'article_category_id' => '1',
			'title' => 'Bharatpur Stands First in Performance Evaluation among Six Metropolises',
			'sub_title' => '',
			'summary' => 'February 22: Bharatpur Metropolitan City has been declared the best metropolis in performance evaluation among six metropolitan cities across the country.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: Bharatpur Metropolitan City has been declared the best metropolis in performance evaluation among six metropolitan cities across the country.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bharatpur metropolis came first in the evaluation carried out the National Natural Resources and Fiscal Commission for the previous financial year. The evaluation was carried out on the basis of 17 indicators for the purpose of the financial equalization grant to be provided by the federal government to the province and local levels in the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The expenses incurred by the municipality, the irregularities pointed out by the audit, the use of the local consolidated fund management system, periodic planning and division of revenue were assessed. Local tax collection, approval of budget within the time were the other grounds for evaluation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The local level is provided a lump sum equalization grant based on the evaluation. The NNRFC evaluates and publishes the results especially in connection with the accounting system and financial system.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Head of the Economic Administration Division of the Bharatpur metropolis, Jagannath Aryal, said that Bharatpur has scored 56.29 percent according to the information given by the commission.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Likewise, Kathmandu Metropolitan City secured 39.02 percent, Birganj received 33.49 percent, Biratnagar 32.85 percent, Lalitpur 25.18 percent and Pokhara 20.74 percent marks. -- RSS</span></span></span></p>
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			'id' => '20318',
			'article_category_id' => '1',
			'title' => 'NEA Team Off to Dhaka to Finalize Electricity Deal',
			'sub_title' => '',
			'summary' => 'February 22: A team of Nepal Electricity Authority has reached Dhaka, the capital of Bangladesh, to finalize the export of 40 megawatts of electricity to Bangladesh from the upcoming monsoon season.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: A team of Nepal Electricity Authority has reached Dhaka, the capital of Bangladesh, to finalize the export of 40 megawatts of electricity to Bangladesh from the upcoming monsoon season. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The delegation led by NEA Executive Director Kulman Ghising, left for Dhaka on Wednesday. The team will fix the price of electricity to be exported to Bangladesh.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to NEA sources, there will be a bilateral talks between the Energy Secretary of Bangladesh and the NEA team in Dhaka. The executive director of the authority Ghising said that preparations have been made to export electricity from Nepal to Bangladesh from the upcoming monsoon season. Before leaving for Bangladesh, Ghising told reporters that most of the technical work for electricity export has reached the final stage. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh has already called for tenders to purchase electricity from Nepal. With Bangladesh calling for bids, the NEA has proposed to provide electricity from Rs 8.96 to Rs 9.28 per unit. The NEA team went to Dhaka to finalize the proposal through mutual agreement.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Council of Ministers of Bangladesh last month gave in-principle approval to the proposal to import electricity from Nepal. India has agreed to allow 40 MW of electricity to be sent from Nepal to Bangladesh through the Muzaffarpur 400 KV transmission line. NEA said that Bangladesh will bear the wheeling charges incurred when exporting electricity to Bangladesh using the Indian transmission lines. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The proposal prepared by the NEA also offers a discount if Bangladesh makes the payment soon. The NEA has set a condition that the payment for the electricity exported from Nepal should be made within 45 days. The authority has proposed to give a certain discount if the payment is made within 7 days of issuing the bill.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Quoting Bangladeshi energy experts, the Daily Observer newspaper published from Bangladesh has written that the rate offered by the NEA to Bangladesh is expensive. Bangladeshi energy experts argue that there is a possibility that more energy can be imported from Nepal in the future, and since the agreement with Nepal is the first, its provisions will become a precedent for the tariff negotiations of every future project.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh is currently producing electricity from coal and diesel power plants. The price of diesel and coal has been increasing of late and pollution is also increasing in Bangladesh. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh is also under pressure to reduce environmental pollution. It has no other option but to close diesel and coal-based power plants. Due to lack of sufficient land, the possibility of solar energy production is also low. Therefore, Bangladesh has to import electricity from other countries. Currently, Bangladesh&#39;s total electricity demand is about 25,000 MW. Bangladesh aims to buy 10,000 megawatts of electricity from neighboring countries by 2040 to meet its domestic demand.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">To meet its demand, Bangladesh is planning to import electricity from Nepal by constructing the 683 MW Sunkoshi III hydropower project with joint investment. Dhaka has also expressed its willingness to enter into an agreement for the purchase of 500 MW of electricity from the 900 MW Upper Karnali Hydropower Project.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '20317',
			'article_category_id' => '1',
			'title' => 'Lumbini Provincial Hospital Best Government Hospital in the Country   ',
			'sub_title' => '',
			'summary' => 'February 22: Butwal-based Lumbini Provincial Hospital has been declared the best among the government hospitals in the country. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: Butwal-based Lumbini Provincial Hospital has been declared the best among the government hospitals in the country. The result was based on an evaluation of minimum service standards.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Medical Superintendent of the hospital, Dr Sudarshan Thapa, shared that Lumbini Provincial Hospital has succeeded in being the top hospital for the third time. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Health Directorate&rsquo;s Minimum Service Standards Evaluation Committee, Lumbini Provincial Hospital scored 89 points this year in the evaluation of the minimum service standards of secondary B-level hospitals.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Subjects like good governance and management of the hospital, clinical management and support services of the hospital are the main criteria in the evaluation. The evaluation committee consists of representatives from the Federal Ministry of Health and Population, Lumbini Province Health Directorate, Dang and Nick Simmons Institute, Kathmandu.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Patients from Palpa, Gulmi, Arghakhanchi, Kapilvastu, Nawalparasi, Pyuthan, Syangja, Rukum, Rolpa and other districts of Lumbini Province come to Lumbini Provincial Hospital for treatment. -- RSS</span></span></span></p>
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		'Article' => array(
			'id' => '20315',
			'article_category_id' => '1',
			'title' => 'Government to Invite Billionaires from Adani to Musk for the Investment Summit',
			'sub_title' => '',
			'summary' => 'February 22: The Government of Nepal has sent invitation to rich and famous people of the world to participate in the Third Investment Summit to be held in Kathmandu on April 28 and 29.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: The Government of Nepal has sent invitation to rich and famous people of the world to participate in the Third Investment Summit to be held in Kathmandu on April 28 and 29. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to Investment Board Nepal&rsquo;s Spokesperson Pradyumna Prasad Upadhyay, invitation has been sent to 17 high-profile individuals of renowned foreign companies including Indian billionaires Gautam Adani and Mukesh Ambani; American billionaire and founder of Space X and Tesla, Alan Musk; Meta (Facebook) founder Mark Zuckerberg among others.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Upadhyay added that Nepali embassies abroad have been requested to help in informing foreign investors about the upcoming investment summit. Accordingly, the embassies have started sending the list of investors and high-profile individuals to the board.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The government expects around 1,000 people, including investors, heads of government, ministers of commerce and industry, domestic investors, and development partners to attend the summit. The board&rsquo;s spokesperson Upadhyay said that there are 1,000 people on the guests&rsquo; list for the summit. Upadhyay said that all of them will be invited.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The prime minister, minister for finance, chief executive officer of the Investment Board are being corresponding with their counterparts abroad. According to spokesperson Upadhyay, correspondence has been started with investors through Nepal&rsquo;s consul general in foreign countries, embassies, high-ranking officials of multinational companies operating in Nepal and private sector businessmen.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Investment Summit Secretariat is currently working on correspondence. The prime minister, finance minister, CEO of Investment Board, and private sector businessmen will send invitation based on their personal acquaintance and relationship, so it is expected that investors and prime ministers of friendly countries will attend the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Apart from investors, invitation will also be sent to the prime minister of India as well as high-ranking officials including the Minister for Industry and Commerce of South Korea and China to participate in the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The board is also preparing to invite the heads of donor agencies that have been helping Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The government is busy in policy reforms and preparation of projects to be showcased during the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Currently, the Ministry of Industry, Commerce and Supplies is preparing to present bills to the cabinet for reforms in laws based on the recommendation made by the Policy, Law and Structural Reform Taskforce.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">A technical committee formed under the coordination of the Secretary of the Ministry of Industry, Commerce and Supplies is working on project compilation and listing. So far, a list of 115 projects has been prepared to be presented during the summit.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Foreign Investment Commitments Hit All-Time Low in mid-January to mid-February in Current FY',
			'sub_title' => '',
			'summary' => 'February 22: Foreign investors pledged the least foreign direct investment (FDI) for Nepal in a one-month period from mid-January to mid-February compared to other months of the current fiscal year.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: Foreign investors pledged the least foreign direct investment (FDI) for Nepal in a one-month period from mid-January to mid-February compared to other months of the current fiscal year.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to the data released by the Department of Industries, Nepal received foreign investment commitments worth Rs 345 million in the review month.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Foreign investment commitment in mid-January to mid-February was about 80 percent less than the commitment in the previous month. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Approval of foreign investment projects was also the lowest in the review month. According to the data, the Department of Industries approved 15 projects with foreign investment projects in mid-January to mid-February. Compared to the first month of the current fiscal year (mid-July to mid-August), project approval and investment commitments have been gradually decreasing in the following months and reached the lowest point in mid-January to mid-February.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The data of the department shows that the highest number of projects were registered in mid-July to mid-August. As a result, the amount of foreign investment commitments in mid-July to mid-August was also more than in other months. A total of 60 projects with foreign investment commitments worth Rs 11.93 billion were approved in mid-July to mid-August.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">As per the legal provision, the Department of Industries is authorized to approve foreign investment for small, medium and large industries/projects.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">In mid-January to mid-February, the department approved only small-scale projects. All the 15 projects approved in mid-January to mid-February were small in size.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to the department, Nepal received foreign investment commitments worth Rs 22.68 billion from mid-July to mid-February in the current fiscal year. During this period, the Department of Industries approved 241 projects in total. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">In the previous fiscal year, the country received foreign investment commitments equal to Rs 38. 40 billion. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The data of decline in FDI commitment was released at a time when the government is preparing to hold the Third Investment Summit in late April this year.</span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '20313',
			'article_category_id' => '1',
			'title' => 'Over 150,000 Cases yet to be Settled in Courts Across Nepal  ',
			'sub_title' => '',
			'summary' => 'February 22: A total of 158,147 cases remain to be settled in the Supreme Court and subordinate courts and tribunals.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: A total of 158,147 cases remain to be settled in the Supreme Court and subordinate courts and tribunals.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">This was revealed by the annual report of the Supreme Court, Judicial Council and Judicial Service Commission for the fiscal year 2079/80 BS which was presented to President Ram Chandra Paudel by Chief Justice Bishwambhar Prasad Shrestha on Wednesday. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the report, altogether 339,990 cases and writs were registered at the apex court and subordinate courts and tribunals since the last fiscal year including 180,139 new cases in the current fiscal year. Of them, 181,843 or 53.48 per cent cases and writs have been settled, according to the report. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Out of a total of 38,933 cases and writs, including 29,654 transferred to the Supreme Court since last fiscal year and 9,279 newly registered in this fiscal year, 11,073 or 28.44 per cent have been settled while 27,860 are still pending.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, out of a total of 62,854 cases and writ petitions, including 25,854 transferred to 18 high courts and benches since last fiscal year and 37,000 newly registered cases in this fiscal year, 38,868 or 61.84 per cent have been settled and 23,986 remain to be sorted out.&nbsp; &nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the annual report, out of a total of 234,837 cases and writs, including 102,369 transferred to the district courts since last fiscal year and 132,468 newly registered in this fiscal year, 130,407 or 55.53 per cent have been settled while 104,430 are pending.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Among 3,366 cases, including 1,974 transferred to other courts and tribunals since last fiscal year and 1,392 newly registered in this fiscal year, 1,495 cases or 44.41 per cent have been settled and 1,871 remain to be sorted out. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to Article 138 of the Constitution, the Supreme Court has to submit its annual report to the president every year. -- RSS</span></span></span></p>
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			'sortorder' => '20040',
			'image' => '20240222103842_RSS_20240221163228_PSP_8469(1).jpg',
			'article_date' => '2024-02-22 10:38:01',
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	(int) 8 => array(
		'Article' => array(
			'id' => '20311',
			'article_category_id' => '1',
			'title' => 'Possibility of Light Rain and Snowfall Today   ',
			'sub_title' => '',
			'summary' => 'February 22: The weather of the country will remain partly to generally cloudy today due to the influence of the westerly low pressure system, according to the Weather Forecasting Division.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: The weather of the country will remain partly to generally cloudy today due to the influence of the westerly low pressure system, according to the Weather Forecasting Division.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">There is a possibility of light rainfall with thunder and lightning in some places of hill areas of Koshi and Madhes provinces and in one or two places of the rest of the country. The division also said that there is possibility of light snowfall in some places of high hills and mountainous areas of the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Later tonight, the weather will remain partly cloudy in Koshi, Madhes and Bagmati provinces, with clear weather in remaining parts of the country. There is possibility of sporadic rain at one or two places in the hill areas of Koshi and Gandaki provinces. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The maximum temperature of Kathmandu will remain 21.5 degrees Celsius and the minimum temperature is expected to be 9.3 degree Celsius. -- RSS</span></span></span></p>
',
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			'sortorder' => '20038',
			'image' => '20240222093222_snowwwwwww.jpg',
			'article_date' => '2024-02-22 09:31:25',
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	(int) 9 => array(
		'Article' => array(
			'id' => '20310',
			'article_category_id' => '1',
			'title' => 'Nepal’s Trade Deficit Stands at Rs 811 Billion in First Seven Months of Current FY    ',
			'sub_title' => '',
			'summary' => 'February 21: The country experienced ballooning trade deficit of Rs 811.11 billion in the first seven months of the current fiscal year. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 21: The country experienced ballooning trade deficit of Rs 811.11 billion in the first seven months of the current fiscal year. According to the Department of Customs, the total volume of Nepal&rsquo;s foreign trade during the review period stood at Rs 984.77 billion. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the data made public by the department on Wednesday, the country&rsquo;s imports amounted to around Rs 897.94 billion while the export earnings were equal to Rs 86.83 billion as of mid-February in the current fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In comparison to the first seven months of the last fiscal year, the country&rsquo;s imports decreased by 2.31 and exports dropped by 7.07 percent. According to the department, trade deficit decreased by 1.77 percent compared to last year as the overall trade dropped by 2.75 percent this year. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">India remained as the largest trading partner of Nepal. Imports from India amounted to Rs 554.75 billion, while goods worth only Rs 58.72 billion were exported to the southern neighbour. Nepal suffered a trade deficit of Rs 496.36 billion with India alone in the seven months of the current fiscal year. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Nepal suffered a trade deficit of Rs 171.23 billion with China, which is the second largest trading country. Goods worth Rs 173.91 billion were imported from China till mid-February while the export amount stood at Rs 1.85 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, the United Arab Emirates is at number three in the list of countries with high trade deficit of Nepal. During the seven months of the current fiscal year, the imports from UAE amounted to Rs 15.69 billion and the export stood at Rs 1.58 billion. The trade deficit with the UAE was Rs 14.11 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Nepal had the highest trade surplus with the United States in the review period. Imports from the US amounted to Rs 9.17 billion while export was Rs 9.54 billion. The trade surplus with the US amounted to Rs 364.7 million.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the department, Nepal has a trade deficit with Denmark, Norway, Afghanistan and the Maldives among other countries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The highest import during the review period was of petroleum products. In the first seven months, diesel amounting to Rs 77.41 billion, petrol worth Rs 38.82 billion and LP Gas worth Rs 30.31 billion were imported into Nepal. Likewise, iron-related materials worth Rs 22.66 billion and smart phones worth Rs 17.38 billion were also imported. -- RSS&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '20309',
			'article_category_id' => '1',
			'title' => 'EU Announces 50-Year Celebration of Nepal-EU Diplomatic Ties',
			'sub_title' => '',
			'summary' => 'The European Union (EU) has announced a year-long celebration to mark 50 years of diplomatic relations between Nepal and the EU.   Organizing a press conference in the capital recently, EU Ambassador to Nepal Veronique Lorenzo announced various activities that the EU plans to organize in Nepal to mark the 50th anniversary of diplomatic relations.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21: The European Union (EU) has announced a year-long celebration to mark 50 years of diplomatic relations between Nepal and the EU.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Organizing a press conference in the capital recently, EU Ambassador to Nepal Veronique Lorenzo announced various activities that the EU plans to organize in Nepal to mark the 50th anniversary of diplomatic relations. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;This year, we celebrate 50 years of steadfast partnership, which grows stronger every year with our unwavering commitments to work together for peace and prosperity,&rdquo; said Ambassador Lorenzo.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Ambassador Lorenzo presented the highlights of the year-long celebrations, including the Nepal European Union Film Festival (NEUFF) &ndash; beginning on 20th March, Europe Day on 9th May, the EU-Nepal Business Forum and Fair on 15th and 16th May, a photo contest, and its exhibition in August, as well as the Erasmus Road Show throughout September in all seven provinces of Nepal, culminating with the &ldquo;Study in Europe&rdquo; Fair. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This year, the EU and Nepal celebrate 50 years of diplomatic relations with the slogan &ldquo;Growing Stronger Together.&rdquo;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;The EU and Nepal established political and economic relations in 1974 and signed a Cooperation Agreement on 1 June 1996. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Ambassador Lorenzo mentioned that both partners have undergone important changes over the past 50 years.</span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Nepal has become a Federal Democracy, while the European Economic Community became the European Union in 1993 and developed its common foreign and security policy from 2010, with the creation of the European External Action Service (EEAS). </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Over this time, the two partners have expanded their democratic and economic space and strengthened their shared interests. Today, the EU and Nepal share the commitment to protect and promote a rule-based international order, peace and prosperity, human rights, and democracy, said the envoy. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the occasion, Ambassador Lorenzo also highlighted the priority areas of EU&rsquo;s support to Nepal. &ldquo;As Nepal advances towards graduating from the LDC status by 2026, the EU and its Member States, our &ldquo;Team Europe,&rdquo; will continue to support Nepal in inclusive green growth, human capital development and good governance.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Lorenzo said that EU will support Nepal in renewable energy, where Nepal has massive potential. </span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '20308',
			'article_category_id' => '1',
			'title' => 'Foreign Aid to Nepal Shrinking due to Government’s Inability to Mobilize the Funds',
			'sub_title' => '',
			'summary' => 'February 21: Foreign grants provided by the donor agencies have been declining due to the decline in the capacity of the Government of Nepal to mobilize the foreign aid.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21: Foreign grants provided by the donor agencies have been declining due to the decline in the capacity of the Government of Nepal to mobilize the foreign aid.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the latest Development Cooperation Report published by the Ministry of Finance, the government of Nepal received USD 1.44 billion from donors as foreign aid in the FY 2021/22, which is the lowest since FY 2017/18.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the year FY 2020/21, the government received foreign aid worth USD 1.7 billion &ndash; a decline of 15.88 percent compared to the preceding FY when the foreign aid received by Nepal had reached an all-time high of USD 2 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to government officials, the main reason for the decrease in foreign aid is poor government spending and delays in reimbursement from donors.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Officials of the Ministry of Finance say that when capital expenditure is weak, the utilization of foreign loans will be low and this will affect the overall foreign aid received by the country. According to them, almost all foreign loans are used either for capital expenditure or for investing in certain projects of public institutions. However, these expenses have been slow for a long time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to former secretary Gopi Krishna Mainali, various conditions have to be fulfilled to reimbursement from donor agencies and if the government fails to comply with the conditions the donors do not release the full amount.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Foreign aid has been the main source for Nepal&#39;s development budget. However, due to the decrease in receiving such aid, the share of development aid in Nepal&#39;s budget decreased to 22.6 percent in FY 2021/22. It was 24.4 percent in FY 2020/21.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the report of the Ministry of Finance, there is a possibility that the foreign aid Nepal will receive will further decline in the next three years. The report points out that such a situation may arise due to changing geopolitical priorities and internal financial problems of development partners.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Among the development partners, Nepal received the maximum financial assistance from the World Bank in FY 2021/22. Of the total assistance of USD 484.9 million through the World Bank, USD 474.4 million was loan. The total disbursement by the Asian Development Bank was of USD 290 million including USD 265 million in loans. The International Monetary Fund provided USD 110 million as budgetary support for debt repayment.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the American aid organization USAID signed a maximum aid agreement worth USD 659 million in the review year, the actual payment was only USD 101.3 million. A major part of USAID&#39;s such payments was in the form of technical assistance worth USD 88.4 million.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review year, 99.5 percent of the total loans received by Nepal were mainly from five development partners - World Bank, Asian Development Bank, International Monetary Fund, India and Japan.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Likewise, 57.5 percent of the total grants was received from the United Nations, the United Kingdom, Norway, the European Union and the Global Alliance for Vaccines and Immunization (GAVI).</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '20307',
			'article_category_id' => '1',
			'title' => 'Govt Forms Committees to Study Operation of Int'l Airports, Restructure NAC   ',
			'sub_title' => '',
			'summary' => 'February 20: The government has formed a committee under the coordination of former Secretary Shankar Prasad Adhikari to study the prospects of construction and operation of international airports on public-private partnership model. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 20: The government has formed a committee under the coordination of former Secretary Shankar Prasad Adhikari to study the prospects of construction and operation of international airports on public-private partnership model.&nbsp; The committee has been asked to provide suggestions in this regard.&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Minister for Communications and Information Technology, Rekha Sharma, shared this during a press conference held on Tuesday to make public the decisions taken by the Council of Ministers.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Meanwhile, Minister Sharma said that the government has formed a study committee under the coordination of former Vice Chairman of NPC, Deependra Bahadur Chhetri, for the structural and managerial reform of Nepal Airlines Corporation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the cabinet meeting has agreed to royalty sharing among three-tiers of government as recommended by the National Natural Resources and Financial Commission.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government is planning to accept the proposal that allows people carrying the official passports of Nepal and Sri Lanka to travel between the two countries without requiring visa.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Minister Sharma, the government will delegate the authority for signing an agreement in this regard to the concerned government body. Also, the Foreign Ministry would be given authority to sign a memorandum of understanding between Nepal and Bangladesh on maintaining institutional relations on foreign affairs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government also approved the acquisition of land for the construction of a tower of 220-KV transmission line under the Tamakoshi-V hydro power project at Bigu rural municipalty-4, Dolakha.&nbsp;&nbsp;&nbsp; In addition to that, the cabinet meeting also approved acquisition of land and forest areas for various hydro power project including Upper Arun (Sankhuwasabha), Upper Rahughat (Myagdi), Super Kabeli Khola-A, Super Kabeli Kholi &#39;cascade&#39;, and Kabeli-III (Taplejung), Super Ambukhola (Dhading), and Sona Khola (Taplejung).&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cabinet meeting also decided to accept the grants worth Rs 11.70 billion from the UK for Green Growth Nepal and Nepal in Business (NIB) programmes.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A draft agreement on bilateral cooperation on intellectual property between the US Trademark Office, and Ministry of Industry, Commerce and Supplies has been approved by the Council of Ministers. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the government has approved the proposals for exploration of petroleum products at ten different spots across the country in the Terai region.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Council of Ministers also approved the draft of trade and investment agreement between Nepal and Australia, while a high level committee has been formed under the coordination of former secretary Madhu Sudan Adhikari on enforcement of Supreme Court orders relating to the compensation of land owned by the Koshi Tappu Wildlife Reserve.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government has also approved the directive on poor household identification and identity card distribution, 2080.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cabinet meeting also decided to approve the Electronic Purchase System Operation (first amendment) Directive, 2080, while the bill designed to amend the Secured Transaction Act, 2063 will be tabled in the parliament. -- RSS</span></span></p>
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		'Article' => array(
			'id' => '20306',
			'article_category_id' => '1',
			'title' => 'Number of Problematic Cooperatives Reaches Eighteen',
			'sub_title' => '',
			'summary' => 'February 21: The number of cooperatives declared problematic by the government has reached one and a half dozen. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 21: The number of cooperatives declared problematic by the government has reached one and a half dozen. They were declared as problematic after they failed to return the savings of the general public. After the government declared three more cooperatives as problematic in the last few weeks, 18 cooperatives have now come under the responsibility of the Cooperatives Management Committee.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Ministry of Land Management and Cooperatives declared Hamro Naya Krishi Cooperative, Krishi Bikas Multipurpose Cooperative and Kantipur Savings and Credit Cooperative as problematic and assigned the committee the responsibility of distributing the assets and liabilities of those cooperatives to the depositors. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Himalayan Bikram Malla, president of Kantipur Savings and Credit Cooperative, has been arrested and the police have started investigation into alleged irregularities. Earlier, in the current fiscal year, three other cooperatives were declared problematic and handed over to the committee. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Section 104 of the Cooperatives Act, 2074 has a provision for the ministry to declare a cooperative as problematic upon the recommendation of the cooperative registrar if it cannot return the depositors&rsquo; savings, is in a serious financial crisis and has financial irregularities.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Section 105 of the same Act has a provision that allows the formation of a management committee to manage the assets of problematic organizations and to pay their liabilities.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The committee must be chaired by a former judge of the high court or a person working in a special category in the judicial service, and must have one representative nominated by the government, one representative from the national cooperative federation, two experts in the cooperative sector, one person who is a chartered accountant and has worked in a bank and financial institution for three years, and a member secretary appointed by the government. The committee has the right to investigate the assets and liabilities and to auction them and return the money to the depositors.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '20304',
			'article_category_id' => '1',
			'title' => 'NRB urges General Public not to get Swayed by Rumors about Banking Sector',
			'sub_title' => '',
			'summary' => 'February 21:  Nepal Rastra Bank (NRB) has assured that the money deposited in banks are safe.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21:&nbsp; Nepal Rastra Bank (NRB) has assured that the money deposited in banks are safe. The central bank made such a remark following rumors that banks are going bankrupt and the money deposited in banks are at high risk, which the NRB has termed as baseless.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Issuing a notice on Tuesday, the NRB urged the general public not to be influenced by rumors spread by groups with vested interest to mislead the people about the financial health of the banking sector.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank has urged the investors, depositors, clients and stakeholders to confidently continue banking transactions.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The NRB also stated that its serious attention has been drawn towards the misleading statements and misinformation given by some individuals and groups regarding the stability of the banks and financial institutions (BFIs). The NRB assured that the BFIs are operating under the direct supervision of the central bank by abiding to the regulations.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This is the first time that the regulatory body made its views public regarding the issue after the misinformation spread by various groups and individuals with vested interest started affecting the public&rsquo;s trust towards the banking sector.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The notice further states that the NRB has been strictly monitoring the transactions of BFIs and assured that the money deposited by the general public is not under any risk.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The latest reports show that the banking sector is in sound health and under strict supervision of the central bank, reads the notice.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank also urged the investors not to believe in rumors spread to discredit a sensitive sector like the banking sector.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank also mentioned that the banking sector is the backbone of the country&#39;s economy and the NRB is carrying out monitoring and supervision of the banks on a regular basis to maintain stability of the BFIs and to promote public trust.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '20321',
			'article_category_id' => '1',
			'title' => 'Global IME Bank Launches Branchless Service in Pancthar',
			'sub_title' => '',
			'summary' => 'Global IME Bank Limited has launched branchless banking service in Ward No. 12, Deri Bazaar of Panchthar Municipality. Along with this, the number of branchless banking services of the bank has reached 275.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 22: Global IME Bank Limited has launched branchless banking service in Ward No. 12, Deri Bazaar of Panchthar Municipality. Along with this, the number of branchless banking services of the bank has reached 275.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Deputy Mayor Radhakrishna Neupane of Panchthar Municipality, Ward Chairman Kamal Prasad Chapagai of Ward No. 12, and Assistant General Manager Dilip Pokharel of the bank jointly inaugurated the branchless service.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Locals of the rural vicinity are expected to access various banking services from the new service point.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Services such as opening savings accounts, depositing up to a certain limit, withdrawing funds, inquiring about the balance in their accounts, paying loan interests, and other services will be available from the newly-launched banking service. </span></span></p>

<p>&nbsp;</p>
',
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			'sortorder' => '20048',
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			'article_date' => '2024-02-22 15:41:28',
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			'article_category_id' => '1',
			'title' => 'Nepal SBI Bank Plants Trees in Pashupatinath Temple',
			'sub_title' => '',
			'summary' => 'Nepal SBI Bank Limited recently conducted tree plantation in the premises of Pashupatinath Temple in Kathmandu. The tree plantation was carried out by the bank in the presence of the Managing Director of State Bank of India (Risk, Compliance, and Audit) Alok Kumar Chaudhary.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 22: Nepal SBI Bank Limited recently conducted tree plantation in the premises of Pashupatinath Temple in Kathmandu. The tree plantation was carried out by the bank in the presence of the Managing Director of State Bank of India (Risk, Compliance, and Audit) Alok Kumar Chaudhary.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Chief Operating Officer of the bank, Yadabendra Kant, the bank&#39;s consultant Chhabiraj Pant, the Chief Business Development Officer of the bank Ritesh Aryal, and other officials of the bank participated in the program. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&ldquo;The bank planted the trees in the premises of the sacred site under its corporate social responsibility,&rdquo; the bank said.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has been providing services through 97 branches, 22 extension counters, seven provincial offices, and one corporate office, along with 121 ATMs.</span></span></p>
',
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			'id' => '20319',
			'article_category_id' => '1',
			'title' => 'Bharatpur Stands First in Performance Evaluation among Six Metropolises',
			'sub_title' => '',
			'summary' => 'February 22: Bharatpur Metropolitan City has been declared the best metropolis in performance evaluation among six metropolitan cities across the country.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: Bharatpur Metropolitan City has been declared the best metropolis in performance evaluation among six metropolitan cities across the country.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bharatpur metropolis came first in the evaluation carried out the National Natural Resources and Fiscal Commission for the previous financial year. The evaluation was carried out on the basis of 17 indicators for the purpose of the financial equalization grant to be provided by the federal government to the province and local levels in the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The expenses incurred by the municipality, the irregularities pointed out by the audit, the use of the local consolidated fund management system, periodic planning and division of revenue were assessed. Local tax collection, approval of budget within the time were the other grounds for evaluation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The local level is provided a lump sum equalization grant based on the evaluation. The NNRFC evaluates and publishes the results especially in connection with the accounting system and financial system.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Head of the Economic Administration Division of the Bharatpur metropolis, Jagannath Aryal, said that Bharatpur has scored 56.29 percent according to the information given by the commission.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Likewise, Kathmandu Metropolitan City secured 39.02 percent, Birganj received 33.49 percent, Biratnagar 32.85 percent, Lalitpur 25.18 percent and Pokhara 20.74 percent marks. -- RSS</span></span></span></p>
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			'id' => '20318',
			'article_category_id' => '1',
			'title' => 'NEA Team Off to Dhaka to Finalize Electricity Deal',
			'sub_title' => '',
			'summary' => 'February 22: A team of Nepal Electricity Authority has reached Dhaka, the capital of Bangladesh, to finalize the export of 40 megawatts of electricity to Bangladesh from the upcoming monsoon season.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: A team of Nepal Electricity Authority has reached Dhaka, the capital of Bangladesh, to finalize the export of 40 megawatts of electricity to Bangladesh from the upcoming monsoon season. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The delegation led by NEA Executive Director Kulman Ghising, left for Dhaka on Wednesday. The team will fix the price of electricity to be exported to Bangladesh.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to NEA sources, there will be a bilateral talks between the Energy Secretary of Bangladesh and the NEA team in Dhaka. The executive director of the authority Ghising said that preparations have been made to export electricity from Nepal to Bangladesh from the upcoming monsoon season. Before leaving for Bangladesh, Ghising told reporters that most of the technical work for electricity export has reached the final stage. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh has already called for tenders to purchase electricity from Nepal. With Bangladesh calling for bids, the NEA has proposed to provide electricity from Rs 8.96 to Rs 9.28 per unit. The NEA team went to Dhaka to finalize the proposal through mutual agreement.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Council of Ministers of Bangladesh last month gave in-principle approval to the proposal to import electricity from Nepal. India has agreed to allow 40 MW of electricity to be sent from Nepal to Bangladesh through the Muzaffarpur 400 KV transmission line. NEA said that Bangladesh will bear the wheeling charges incurred when exporting electricity to Bangladesh using the Indian transmission lines. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The proposal prepared by the NEA also offers a discount if Bangladesh makes the payment soon. The NEA has set a condition that the payment for the electricity exported from Nepal should be made within 45 days. The authority has proposed to give a certain discount if the payment is made within 7 days of issuing the bill.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Quoting Bangladeshi energy experts, the Daily Observer newspaper published from Bangladesh has written that the rate offered by the NEA to Bangladesh is expensive. Bangladeshi energy experts argue that there is a possibility that more energy can be imported from Nepal in the future, and since the agreement with Nepal is the first, its provisions will become a precedent for the tariff negotiations of every future project.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh is currently producing electricity from coal and diesel power plants. The price of diesel and coal has been increasing of late and pollution is also increasing in Bangladesh. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh is also under pressure to reduce environmental pollution. It has no other option but to close diesel and coal-based power plants. Due to lack of sufficient land, the possibility of solar energy production is also low. Therefore, Bangladesh has to import electricity from other countries. Currently, Bangladesh&#39;s total electricity demand is about 25,000 MW. Bangladesh aims to buy 10,000 megawatts of electricity from neighboring countries by 2040 to meet its domestic demand.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">To meet its demand, Bangladesh is planning to import electricity from Nepal by constructing the 683 MW Sunkoshi III hydropower project with joint investment. Dhaka has also expressed its willingness to enter into an agreement for the purchase of 500 MW of electricity from the 900 MW Upper Karnali Hydropower Project.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '20317',
			'article_category_id' => '1',
			'title' => 'Lumbini Provincial Hospital Best Government Hospital in the Country   ',
			'sub_title' => '',
			'summary' => 'February 22: Butwal-based Lumbini Provincial Hospital has been declared the best among the government hospitals in the country. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: Butwal-based Lumbini Provincial Hospital has been declared the best among the government hospitals in the country. The result was based on an evaluation of minimum service standards.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Medical Superintendent of the hospital, Dr Sudarshan Thapa, shared that Lumbini Provincial Hospital has succeeded in being the top hospital for the third time. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Health Directorate&rsquo;s Minimum Service Standards Evaluation Committee, Lumbini Provincial Hospital scored 89 points this year in the evaluation of the minimum service standards of secondary B-level hospitals.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Subjects like good governance and management of the hospital, clinical management and support services of the hospital are the main criteria in the evaluation. The evaluation committee consists of representatives from the Federal Ministry of Health and Population, Lumbini Province Health Directorate, Dang and Nick Simmons Institute, Kathmandu.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Patients from Palpa, Gulmi, Arghakhanchi, Kapilvastu, Nawalparasi, Pyuthan, Syangja, Rukum, Rolpa and other districts of Lumbini Province come to Lumbini Provincial Hospital for treatment. -- RSS</span></span></span></p>
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			'article_date' => '2024-02-22 12:45:40',
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	(int) 5 => array(
		'Article' => array(
			'id' => '20315',
			'article_category_id' => '1',
			'title' => 'Government to Invite Billionaires from Adani to Musk for the Investment Summit',
			'sub_title' => '',
			'summary' => 'February 22: The Government of Nepal has sent invitation to rich and famous people of the world to participate in the Third Investment Summit to be held in Kathmandu on April 28 and 29.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: The Government of Nepal has sent invitation to rich and famous people of the world to participate in the Third Investment Summit to be held in Kathmandu on April 28 and 29. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to Investment Board Nepal&rsquo;s Spokesperson Pradyumna Prasad Upadhyay, invitation has been sent to 17 high-profile individuals of renowned foreign companies including Indian billionaires Gautam Adani and Mukesh Ambani; American billionaire and founder of Space X and Tesla, Alan Musk; Meta (Facebook) founder Mark Zuckerberg among others.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Upadhyay added that Nepali embassies abroad have been requested to help in informing foreign investors about the upcoming investment summit. Accordingly, the embassies have started sending the list of investors and high-profile individuals to the board.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The government expects around 1,000 people, including investors, heads of government, ministers of commerce and industry, domestic investors, and development partners to attend the summit. The board&rsquo;s spokesperson Upadhyay said that there are 1,000 people on the guests&rsquo; list for the summit. Upadhyay said that all of them will be invited.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The prime minister, minister for finance, chief executive officer of the Investment Board are being corresponding with their counterparts abroad. According to spokesperson Upadhyay, correspondence has been started with investors through Nepal&rsquo;s consul general in foreign countries, embassies, high-ranking officials of multinational companies operating in Nepal and private sector businessmen.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Investment Summit Secretariat is currently working on correspondence. The prime minister, finance minister, CEO of Investment Board, and private sector businessmen will send invitation based on their personal acquaintance and relationship, so it is expected that investors and prime ministers of friendly countries will attend the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Apart from investors, invitation will also be sent to the prime minister of India as well as high-ranking officials including the Minister for Industry and Commerce of South Korea and China to participate in the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The board is also preparing to invite the heads of donor agencies that have been helping Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The government is busy in policy reforms and preparation of projects to be showcased during the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Currently, the Ministry of Industry, Commerce and Supplies is preparing to present bills to the cabinet for reforms in laws based on the recommendation made by the Policy, Law and Structural Reform Taskforce.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">A technical committee formed under the coordination of the Secretary of the Ministry of Industry, Commerce and Supplies is working on project compilation and listing. So far, a list of 115 projects has been prepared to be presented during the summit.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'image' => '20240222120509_20240130024837_investment.jpg',
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	(int) 6 => array(
		'Article' => array(
			'id' => '20314',
			'article_category_id' => '1',
			'title' => 'Foreign Investment Commitments Hit All-Time Low in mid-January to mid-February in Current FY',
			'sub_title' => '',
			'summary' => 'February 22: Foreign investors pledged the least foreign direct investment (FDI) for Nepal in a one-month period from mid-January to mid-February compared to other months of the current fiscal year.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: Foreign investors pledged the least foreign direct investment (FDI) for Nepal in a one-month period from mid-January to mid-February compared to other months of the current fiscal year.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to the data released by the Department of Industries, Nepal received foreign investment commitments worth Rs 345 million in the review month.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Foreign investment commitment in mid-January to mid-February was about 80 percent less than the commitment in the previous month. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Approval of foreign investment projects was also the lowest in the review month. According to the data, the Department of Industries approved 15 projects with foreign investment projects in mid-January to mid-February. Compared to the first month of the current fiscal year (mid-July to mid-August), project approval and investment commitments have been gradually decreasing in the following months and reached the lowest point in mid-January to mid-February.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The data of the department shows that the highest number of projects were registered in mid-July to mid-August. As a result, the amount of foreign investment commitments in mid-July to mid-August was also more than in other months. A total of 60 projects with foreign investment commitments worth Rs 11.93 billion were approved in mid-July to mid-August.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">As per the legal provision, the Department of Industries is authorized to approve foreign investment for small, medium and large industries/projects.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">In mid-January to mid-February, the department approved only small-scale projects. All the 15 projects approved in mid-January to mid-February were small in size.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to the department, Nepal received foreign investment commitments worth Rs 22.68 billion from mid-July to mid-February in the current fiscal year. During this period, the Department of Industries approved 241 projects in total. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">In the previous fiscal year, the country received foreign investment commitments equal to Rs 38. 40 billion. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The data of decline in FDI commitment was released at a time when the government is preparing to hold the Third Investment Summit in late April this year.</span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '20313',
			'article_category_id' => '1',
			'title' => 'Over 150,000 Cases yet to be Settled in Courts Across Nepal  ',
			'sub_title' => '',
			'summary' => 'February 22: A total of 158,147 cases remain to be settled in the Supreme Court and subordinate courts and tribunals.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: A total of 158,147 cases remain to be settled in the Supreme Court and subordinate courts and tribunals.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">This was revealed by the annual report of the Supreme Court, Judicial Council and Judicial Service Commission for the fiscal year 2079/80 BS which was presented to President Ram Chandra Paudel by Chief Justice Bishwambhar Prasad Shrestha on Wednesday. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the report, altogether 339,990 cases and writs were registered at the apex court and subordinate courts and tribunals since the last fiscal year including 180,139 new cases in the current fiscal year. Of them, 181,843 or 53.48 per cent cases and writs have been settled, according to the report. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Out of a total of 38,933 cases and writs, including 29,654 transferred to the Supreme Court since last fiscal year and 9,279 newly registered in this fiscal year, 11,073 or 28.44 per cent have been settled while 27,860 are still pending.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, out of a total of 62,854 cases and writ petitions, including 25,854 transferred to 18 high courts and benches since last fiscal year and 37,000 newly registered cases in this fiscal year, 38,868 or 61.84 per cent have been settled and 23,986 remain to be sorted out.&nbsp; &nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the annual report, out of a total of 234,837 cases and writs, including 102,369 transferred to the district courts since last fiscal year and 132,468 newly registered in this fiscal year, 130,407 or 55.53 per cent have been settled while 104,430 are pending.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Among 3,366 cases, including 1,974 transferred to other courts and tribunals since last fiscal year and 1,392 newly registered in this fiscal year, 1,495 cases or 44.41 per cent have been settled and 1,871 remain to be sorted out. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to Article 138 of the Constitution, the Supreme Court has to submit its annual report to the president every year. -- RSS</span></span></span></p>
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			'sortorder' => '20040',
			'image' => '20240222103842_RSS_20240221163228_PSP_8469(1).jpg',
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	(int) 8 => array(
		'Article' => array(
			'id' => '20311',
			'article_category_id' => '1',
			'title' => 'Possibility of Light Rain and Snowfall Today   ',
			'sub_title' => '',
			'summary' => 'February 22: The weather of the country will remain partly to generally cloudy today due to the influence of the westerly low pressure system, according to the Weather Forecasting Division.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: The weather of the country will remain partly to generally cloudy today due to the influence of the westerly low pressure system, according to the Weather Forecasting Division.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">There is a possibility of light rainfall with thunder and lightning in some places of hill areas of Koshi and Madhes provinces and in one or two places of the rest of the country. The division also said that there is possibility of light snowfall in some places of high hills and mountainous areas of the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Later tonight, the weather will remain partly cloudy in Koshi, Madhes and Bagmati provinces, with clear weather in remaining parts of the country. There is possibility of sporadic rain at one or two places in the hill areas of Koshi and Gandaki provinces. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The maximum temperature of Kathmandu will remain 21.5 degrees Celsius and the minimum temperature is expected to be 9.3 degree Celsius. -- RSS</span></span></span></p>
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			'sortorder' => '20038',
			'image' => '20240222093222_snowwwwwww.jpg',
			'article_date' => '2024-02-22 09:31:25',
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	(int) 9 => array(
		'Article' => array(
			'id' => '20310',
			'article_category_id' => '1',
			'title' => 'Nepal’s Trade Deficit Stands at Rs 811 Billion in First Seven Months of Current FY    ',
			'sub_title' => '',
			'summary' => 'February 21: The country experienced ballooning trade deficit of Rs 811.11 billion in the first seven months of the current fiscal year. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 21: The country experienced ballooning trade deficit of Rs 811.11 billion in the first seven months of the current fiscal year. According to the Department of Customs, the total volume of Nepal&rsquo;s foreign trade during the review period stood at Rs 984.77 billion. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the data made public by the department on Wednesday, the country&rsquo;s imports amounted to around Rs 897.94 billion while the export earnings were equal to Rs 86.83 billion as of mid-February in the current fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In comparison to the first seven months of the last fiscal year, the country&rsquo;s imports decreased by 2.31 and exports dropped by 7.07 percent. According to the department, trade deficit decreased by 1.77 percent compared to last year as the overall trade dropped by 2.75 percent this year. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">India remained as the largest trading partner of Nepal. Imports from India amounted to Rs 554.75 billion, while goods worth only Rs 58.72 billion were exported to the southern neighbour. Nepal suffered a trade deficit of Rs 496.36 billion with India alone in the seven months of the current fiscal year. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Nepal suffered a trade deficit of Rs 171.23 billion with China, which is the second largest trading country. Goods worth Rs 173.91 billion were imported from China till mid-February while the export amount stood at Rs 1.85 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, the United Arab Emirates is at number three in the list of countries with high trade deficit of Nepal. During the seven months of the current fiscal year, the imports from UAE amounted to Rs 15.69 billion and the export stood at Rs 1.58 billion. The trade deficit with the UAE was Rs 14.11 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Nepal had the highest trade surplus with the United States in the review period. Imports from the US amounted to Rs 9.17 billion while export was Rs 9.54 billion. The trade surplus with the US amounted to Rs 364.7 million.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the department, Nepal has a trade deficit with Denmark, Norway, Afghanistan and the Maldives among other countries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The highest import during the review period was of petroleum products. In the first seven months, diesel amounting to Rs 77.41 billion, petrol worth Rs 38.82 billion and LP Gas worth Rs 30.31 billion were imported into Nepal. Likewise, iron-related materials worth Rs 22.66 billion and smart phones worth Rs 17.38 billion were also imported. -- RSS&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '20309',
			'article_category_id' => '1',
			'title' => 'EU Announces 50-Year Celebration of Nepal-EU Diplomatic Ties',
			'sub_title' => '',
			'summary' => 'The European Union (EU) has announced a year-long celebration to mark 50 years of diplomatic relations between Nepal and the EU.   Organizing a press conference in the capital recently, EU Ambassador to Nepal Veronique Lorenzo announced various activities that the EU plans to organize in Nepal to mark the 50th anniversary of diplomatic relations.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21: The European Union (EU) has announced a year-long celebration to mark 50 years of diplomatic relations between Nepal and the EU.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Organizing a press conference in the capital recently, EU Ambassador to Nepal Veronique Lorenzo announced various activities that the EU plans to organize in Nepal to mark the 50th anniversary of diplomatic relations. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;This year, we celebrate 50 years of steadfast partnership, which grows stronger every year with our unwavering commitments to work together for peace and prosperity,&rdquo; said Ambassador Lorenzo.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Ambassador Lorenzo presented the highlights of the year-long celebrations, including the Nepal European Union Film Festival (NEUFF) &ndash; beginning on 20th March, Europe Day on 9th May, the EU-Nepal Business Forum and Fair on 15th and 16th May, a photo contest, and its exhibition in August, as well as the Erasmus Road Show throughout September in all seven provinces of Nepal, culminating with the &ldquo;Study in Europe&rdquo; Fair. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This year, the EU and Nepal celebrate 50 years of diplomatic relations with the slogan &ldquo;Growing Stronger Together.&rdquo;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;The EU and Nepal established political and economic relations in 1974 and signed a Cooperation Agreement on 1 June 1996. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Ambassador Lorenzo mentioned that both partners have undergone important changes over the past 50 years.</span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Nepal has become a Federal Democracy, while the European Economic Community became the European Union in 1993 and developed its common foreign and security policy from 2010, with the creation of the European External Action Service (EEAS). </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Over this time, the two partners have expanded their democratic and economic space and strengthened their shared interests. Today, the EU and Nepal share the commitment to protect and promote a rule-based international order, peace and prosperity, human rights, and democracy, said the envoy. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the occasion, Ambassador Lorenzo also highlighted the priority areas of EU&rsquo;s support to Nepal. &ldquo;As Nepal advances towards graduating from the LDC status by 2026, the EU and its Member States, our &ldquo;Team Europe,&rdquo; will continue to support Nepal in inclusive green growth, human capital development and good governance.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Lorenzo said that EU will support Nepal in renewable energy, where Nepal has massive potential. </span></span></p>

<p>&nbsp;</p>
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			'id' => '20308',
			'article_category_id' => '1',
			'title' => 'Foreign Aid to Nepal Shrinking due to Government’s Inability to Mobilize the Funds',
			'sub_title' => '',
			'summary' => 'February 21: Foreign grants provided by the donor agencies have been declining due to the decline in the capacity of the Government of Nepal to mobilize the foreign aid.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21: Foreign grants provided by the donor agencies have been declining due to the decline in the capacity of the Government of Nepal to mobilize the foreign aid.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the latest Development Cooperation Report published by the Ministry of Finance, the government of Nepal received USD 1.44 billion from donors as foreign aid in the FY 2021/22, which is the lowest since FY 2017/18.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the year FY 2020/21, the government received foreign aid worth USD 1.7 billion &ndash; a decline of 15.88 percent compared to the preceding FY when the foreign aid received by Nepal had reached an all-time high of USD 2 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to government officials, the main reason for the decrease in foreign aid is poor government spending and delays in reimbursement from donors.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Officials of the Ministry of Finance say that when capital expenditure is weak, the utilization of foreign loans will be low and this will affect the overall foreign aid received by the country. According to them, almost all foreign loans are used either for capital expenditure or for investing in certain projects of public institutions. However, these expenses have been slow for a long time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to former secretary Gopi Krishna Mainali, various conditions have to be fulfilled to reimbursement from donor agencies and if the government fails to comply with the conditions the donors do not release the full amount.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Foreign aid has been the main source for Nepal&#39;s development budget. However, due to the decrease in receiving such aid, the share of development aid in Nepal&#39;s budget decreased to 22.6 percent in FY 2021/22. It was 24.4 percent in FY 2020/21.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the report of the Ministry of Finance, there is a possibility that the foreign aid Nepal will receive will further decline in the next three years. The report points out that such a situation may arise due to changing geopolitical priorities and internal financial problems of development partners.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Among the development partners, Nepal received the maximum financial assistance from the World Bank in FY 2021/22. Of the total assistance of USD 484.9 million through the World Bank, USD 474.4 million was loan. The total disbursement by the Asian Development Bank was of USD 290 million including USD 265 million in loans. The International Monetary Fund provided USD 110 million as budgetary support for debt repayment.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the American aid organization USAID signed a maximum aid agreement worth USD 659 million in the review year, the actual payment was only USD 101.3 million. A major part of USAID&#39;s such payments was in the form of technical assistance worth USD 88.4 million.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review year, 99.5 percent of the total loans received by Nepal were mainly from five development partners - World Bank, Asian Development Bank, International Monetary Fund, India and Japan.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Likewise, 57.5 percent of the total grants was received from the United Nations, the United Kingdom, Norway, the European Union and the Global Alliance for Vaccines and Immunization (GAVI).</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '20307',
			'article_category_id' => '1',
			'title' => 'Govt Forms Committees to Study Operation of Int'l Airports, Restructure NAC   ',
			'sub_title' => '',
			'summary' => 'February 20: The government has formed a committee under the coordination of former Secretary Shankar Prasad Adhikari to study the prospects of construction and operation of international airports on public-private partnership model. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 20: The government has formed a committee under the coordination of former Secretary Shankar Prasad Adhikari to study the prospects of construction and operation of international airports on public-private partnership model.&nbsp; The committee has been asked to provide suggestions in this regard.&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Minister for Communications and Information Technology, Rekha Sharma, shared this during a press conference held on Tuesday to make public the decisions taken by the Council of Ministers.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Meanwhile, Minister Sharma said that the government has formed a study committee under the coordination of former Vice Chairman of NPC, Deependra Bahadur Chhetri, for the structural and managerial reform of Nepal Airlines Corporation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the cabinet meeting has agreed to royalty sharing among three-tiers of government as recommended by the National Natural Resources and Financial Commission.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government is planning to accept the proposal that allows people carrying the official passports of Nepal and Sri Lanka to travel between the two countries without requiring visa.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Minister Sharma, the government will delegate the authority for signing an agreement in this regard to the concerned government body. Also, the Foreign Ministry would be given authority to sign a memorandum of understanding between Nepal and Bangladesh on maintaining institutional relations on foreign affairs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government also approved the acquisition of land for the construction of a tower of 220-KV transmission line under the Tamakoshi-V hydro power project at Bigu rural municipalty-4, Dolakha.&nbsp;&nbsp;&nbsp; In addition to that, the cabinet meeting also approved acquisition of land and forest areas for various hydro power project including Upper Arun (Sankhuwasabha), Upper Rahughat (Myagdi), Super Kabeli Khola-A, Super Kabeli Kholi &#39;cascade&#39;, and Kabeli-III (Taplejung), Super Ambukhola (Dhading), and Sona Khola (Taplejung).&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cabinet meeting also decided to accept the grants worth Rs 11.70 billion from the UK for Green Growth Nepal and Nepal in Business (NIB) programmes.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A draft agreement on bilateral cooperation on intellectual property between the US Trademark Office, and Ministry of Industry, Commerce and Supplies has been approved by the Council of Ministers. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the government has approved the proposals for exploration of petroleum products at ten different spots across the country in the Terai region.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Council of Ministers also approved the draft of trade and investment agreement between Nepal and Australia, while a high level committee has been formed under the coordination of former secretary Madhu Sudan Adhikari on enforcement of Supreme Court orders relating to the compensation of land owned by the Koshi Tappu Wildlife Reserve.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government has also approved the directive on poor household identification and identity card distribution, 2080.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cabinet meeting also decided to approve the Electronic Purchase System Operation (first amendment) Directive, 2080, while the bill designed to amend the Secured Transaction Act, 2063 will be tabled in the parliament. -- RSS</span></span></p>
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		'Article' => array(
			'id' => '20306',
			'article_category_id' => '1',
			'title' => 'Number of Problematic Cooperatives Reaches Eighteen',
			'sub_title' => '',
			'summary' => 'February 21: The number of cooperatives declared problematic by the government has reached one and a half dozen. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 21: The number of cooperatives declared problematic by the government has reached one and a half dozen. They were declared as problematic after they failed to return the savings of the general public. After the government declared three more cooperatives as problematic in the last few weeks, 18 cooperatives have now come under the responsibility of the Cooperatives Management Committee.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Ministry of Land Management and Cooperatives declared Hamro Naya Krishi Cooperative, Krishi Bikas Multipurpose Cooperative and Kantipur Savings and Credit Cooperative as problematic and assigned the committee the responsibility of distributing the assets and liabilities of those cooperatives to the depositors. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Himalayan Bikram Malla, president of Kantipur Savings and Credit Cooperative, has been arrested and the police have started investigation into alleged irregularities. Earlier, in the current fiscal year, three other cooperatives were declared problematic and handed over to the committee. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Section 104 of the Cooperatives Act, 2074 has a provision for the ministry to declare a cooperative as problematic upon the recommendation of the cooperative registrar if it cannot return the depositors&rsquo; savings, is in a serious financial crisis and has financial irregularities.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Section 105 of the same Act has a provision that allows the formation of a management committee to manage the assets of problematic organizations and to pay their liabilities.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The committee must be chaired by a former judge of the high court or a person working in a special category in the judicial service, and must have one representative nominated by the government, one representative from the national cooperative federation, two experts in the cooperative sector, one person who is a chartered accountant and has worked in a bank and financial institution for three years, and a member secretary appointed by the government. The committee has the right to investigate the assets and liabilities and to auction them and return the money to the depositors.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '20304',
			'article_category_id' => '1',
			'title' => 'NRB urges General Public not to get Swayed by Rumors about Banking Sector',
			'sub_title' => '',
			'summary' => 'February 21:  Nepal Rastra Bank (NRB) has assured that the money deposited in banks are safe.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21:&nbsp; Nepal Rastra Bank (NRB) has assured that the money deposited in banks are safe. The central bank made such a remark following rumors that banks are going bankrupt and the money deposited in banks are at high risk, which the NRB has termed as baseless.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Issuing a notice on Tuesday, the NRB urged the general public not to be influenced by rumors spread by groups with vested interest to mislead the people about the financial health of the banking sector.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank has urged the investors, depositors, clients and stakeholders to confidently continue banking transactions.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The NRB also stated that its serious attention has been drawn towards the misleading statements and misinformation given by some individuals and groups regarding the stability of the banks and financial institutions (BFIs). The NRB assured that the BFIs are operating under the direct supervision of the central bank by abiding to the regulations.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This is the first time that the regulatory body made its views public regarding the issue after the misinformation spread by various groups and individuals with vested interest started affecting the public&rsquo;s trust towards the banking sector.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The notice further states that the NRB has been strictly monitoring the transactions of BFIs and assured that the money deposited by the general public is not under any risk.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The latest reports show that the banking sector is in sound health and under strict supervision of the central bank, reads the notice.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank also urged the investors not to believe in rumors spread to discredit a sensitive sector like the banking sector.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank also mentioned that the banking sector is the backbone of the country&#39;s economy and the NRB is carrying out monitoring and supervision of the banks on a regular basis to maintain stability of the BFIs and to promote public trust.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'id' => '20321',
			'article_category_id' => '1',
			'title' => 'Global IME Bank Launches Branchless Service in Pancthar',
			'sub_title' => '',
			'summary' => 'Global IME Bank Limited has launched branchless banking service in Ward No. 12, Deri Bazaar of Panchthar Municipality. Along with this, the number of branchless banking services of the bank has reached 275.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 22: Global IME Bank Limited has launched branchless banking service in Ward No. 12, Deri Bazaar of Panchthar Municipality. Along with this, the number of branchless banking services of the bank has reached 275.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Deputy Mayor Radhakrishna Neupane of Panchthar Municipality, Ward Chairman Kamal Prasad Chapagai of Ward No. 12, and Assistant General Manager Dilip Pokharel of the bank jointly inaugurated the branchless service.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Locals of the rural vicinity are expected to access various banking services from the new service point.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Services such as opening savings accounts, depositing up to a certain limit, withdrawing funds, inquiring about the balance in their accounts, paying loan interests, and other services will be available from the newly-launched banking service. </span></span></p>

<p>&nbsp;</p>
',
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			'title' => 'Nepal SBI Bank Plants Trees in Pashupatinath Temple',
			'sub_title' => '',
			'summary' => 'Nepal SBI Bank Limited recently conducted tree plantation in the premises of Pashupatinath Temple in Kathmandu. The tree plantation was carried out by the bank in the presence of the Managing Director of State Bank of India (Risk, Compliance, and Audit) Alok Kumar Chaudhary.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 22: Nepal SBI Bank Limited recently conducted tree plantation in the premises of Pashupatinath Temple in Kathmandu. The tree plantation was carried out by the bank in the presence of the Managing Director of State Bank of India (Risk, Compliance, and Audit) Alok Kumar Chaudhary.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Chief Operating Officer of the bank, Yadabendra Kant, the bank&#39;s consultant Chhabiraj Pant, the Chief Business Development Officer of the bank Ritesh Aryal, and other officials of the bank participated in the program. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&ldquo;The bank planted the trees in the premises of the sacred site under its corporate social responsibility,&rdquo; the bank said.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has been providing services through 97 branches, 22 extension counters, seven provincial offices, and one corporate office, along with 121 ATMs.</span></span></p>
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			'id' => '20319',
			'article_category_id' => '1',
			'title' => 'Bharatpur Stands First in Performance Evaluation among Six Metropolises',
			'sub_title' => '',
			'summary' => 'February 22: Bharatpur Metropolitan City has been declared the best metropolis in performance evaluation among six metropolitan cities across the country.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: Bharatpur Metropolitan City has been declared the best metropolis in performance evaluation among six metropolitan cities across the country.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bharatpur metropolis came first in the evaluation carried out the National Natural Resources and Fiscal Commission for the previous financial year. The evaluation was carried out on the basis of 17 indicators for the purpose of the financial equalization grant to be provided by the federal government to the province and local levels in the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The expenses incurred by the municipality, the irregularities pointed out by the audit, the use of the local consolidated fund management system, periodic planning and division of revenue were assessed. Local tax collection, approval of budget within the time were the other grounds for evaluation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The local level is provided a lump sum equalization grant based on the evaluation. The NNRFC evaluates and publishes the results especially in connection with the accounting system and financial system.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Head of the Economic Administration Division of the Bharatpur metropolis, Jagannath Aryal, said that Bharatpur has scored 56.29 percent according to the information given by the commission.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Likewise, Kathmandu Metropolitan City secured 39.02 percent, Birganj received 33.49 percent, Biratnagar 32.85 percent, Lalitpur 25.18 percent and Pokhara 20.74 percent marks. -- RSS</span></span></span></p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '20318',
			'article_category_id' => '1',
			'title' => 'NEA Team Off to Dhaka to Finalize Electricity Deal',
			'sub_title' => '',
			'summary' => 'February 22: A team of Nepal Electricity Authority has reached Dhaka, the capital of Bangladesh, to finalize the export of 40 megawatts of electricity to Bangladesh from the upcoming monsoon season.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: A team of Nepal Electricity Authority has reached Dhaka, the capital of Bangladesh, to finalize the export of 40 megawatts of electricity to Bangladesh from the upcoming monsoon season. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The delegation led by NEA Executive Director Kulman Ghising, left for Dhaka on Wednesday. The team will fix the price of electricity to be exported to Bangladesh.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to NEA sources, there will be a bilateral talks between the Energy Secretary of Bangladesh and the NEA team in Dhaka. The executive director of the authority Ghising said that preparations have been made to export electricity from Nepal to Bangladesh from the upcoming monsoon season. Before leaving for Bangladesh, Ghising told reporters that most of the technical work for electricity export has reached the final stage. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh has already called for tenders to purchase electricity from Nepal. With Bangladesh calling for bids, the NEA has proposed to provide electricity from Rs 8.96 to Rs 9.28 per unit. The NEA team went to Dhaka to finalize the proposal through mutual agreement.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Council of Ministers of Bangladesh last month gave in-principle approval to the proposal to import electricity from Nepal. India has agreed to allow 40 MW of electricity to be sent from Nepal to Bangladesh through the Muzaffarpur 400 KV transmission line. NEA said that Bangladesh will bear the wheeling charges incurred when exporting electricity to Bangladesh using the Indian transmission lines. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The proposal prepared by the NEA also offers a discount if Bangladesh makes the payment soon. The NEA has set a condition that the payment for the electricity exported from Nepal should be made within 45 days. The authority has proposed to give a certain discount if the payment is made within 7 days of issuing the bill.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Quoting Bangladeshi energy experts, the Daily Observer newspaper published from Bangladesh has written that the rate offered by the NEA to Bangladesh is expensive. Bangladeshi energy experts argue that there is a possibility that more energy can be imported from Nepal in the future, and since the agreement with Nepal is the first, its provisions will become a precedent for the tariff negotiations of every future project.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh is currently producing electricity from coal and diesel power plants. The price of diesel and coal has been increasing of late and pollution is also increasing in Bangladesh. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh is also under pressure to reduce environmental pollution. It has no other option but to close diesel and coal-based power plants. Due to lack of sufficient land, the possibility of solar energy production is also low. Therefore, Bangladesh has to import electricity from other countries. Currently, Bangladesh&#39;s total electricity demand is about 25,000 MW. Bangladesh aims to buy 10,000 megawatts of electricity from neighboring countries by 2040 to meet its domestic demand.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">To meet its demand, Bangladesh is planning to import electricity from Nepal by constructing the 683 MW Sunkoshi III hydropower project with joint investment. Dhaka has also expressed its willingness to enter into an agreement for the purchase of 500 MW of electricity from the 900 MW Upper Karnali Hydropower Project.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '20317',
			'article_category_id' => '1',
			'title' => 'Lumbini Provincial Hospital Best Government Hospital in the Country   ',
			'sub_title' => '',
			'summary' => 'February 22: Butwal-based Lumbini Provincial Hospital has been declared the best among the government hospitals in the country. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: Butwal-based Lumbini Provincial Hospital has been declared the best among the government hospitals in the country. The result was based on an evaluation of minimum service standards.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Medical Superintendent of the hospital, Dr Sudarshan Thapa, shared that Lumbini Provincial Hospital has succeeded in being the top hospital for the third time. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Health Directorate&rsquo;s Minimum Service Standards Evaluation Committee, Lumbini Provincial Hospital scored 89 points this year in the evaluation of the minimum service standards of secondary B-level hospitals.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Subjects like good governance and management of the hospital, clinical management and support services of the hospital are the main criteria in the evaluation. The evaluation committee consists of representatives from the Federal Ministry of Health and Population, Lumbini Province Health Directorate, Dang and Nick Simmons Institute, Kathmandu.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Patients from Palpa, Gulmi, Arghakhanchi, Kapilvastu, Nawalparasi, Pyuthan, Syangja, Rukum, Rolpa and other districts of Lumbini Province come to Lumbini Provincial Hospital for treatment. -- RSS</span></span></span></p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '20315',
			'article_category_id' => '1',
			'title' => 'Government to Invite Billionaires from Adani to Musk for the Investment Summit',
			'sub_title' => '',
			'summary' => 'February 22: The Government of Nepal has sent invitation to rich and famous people of the world to participate in the Third Investment Summit to be held in Kathmandu on April 28 and 29.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: The Government of Nepal has sent invitation to rich and famous people of the world to participate in the Third Investment Summit to be held in Kathmandu on April 28 and 29. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to Investment Board Nepal&rsquo;s Spokesperson Pradyumna Prasad Upadhyay, invitation has been sent to 17 high-profile individuals of renowned foreign companies including Indian billionaires Gautam Adani and Mukesh Ambani; American billionaire and founder of Space X and Tesla, Alan Musk; Meta (Facebook) founder Mark Zuckerberg among others.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Upadhyay added that Nepali embassies abroad have been requested to help in informing foreign investors about the upcoming investment summit. Accordingly, the embassies have started sending the list of investors and high-profile individuals to the board.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The government expects around 1,000 people, including investors, heads of government, ministers of commerce and industry, domestic investors, and development partners to attend the summit. The board&rsquo;s spokesperson Upadhyay said that there are 1,000 people on the guests&rsquo; list for the summit. Upadhyay said that all of them will be invited.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The prime minister, minister for finance, chief executive officer of the Investment Board are being corresponding with their counterparts abroad. According to spokesperson Upadhyay, correspondence has been started with investors through Nepal&rsquo;s consul general in foreign countries, embassies, high-ranking officials of multinational companies operating in Nepal and private sector businessmen.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Investment Summit Secretariat is currently working on correspondence. The prime minister, finance minister, CEO of Investment Board, and private sector businessmen will send invitation based on their personal acquaintance and relationship, so it is expected that investors and prime ministers of friendly countries will attend the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Apart from investors, invitation will also be sent to the prime minister of India as well as high-ranking officials including the Minister for Industry and Commerce of South Korea and China to participate in the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The board is also preparing to invite the heads of donor agencies that have been helping Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The government is busy in policy reforms and preparation of projects to be showcased during the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Currently, the Ministry of Industry, Commerce and Supplies is preparing to present bills to the cabinet for reforms in laws based on the recommendation made by the Policy, Law and Structural Reform Taskforce.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">A technical committee formed under the coordination of the Secretary of the Ministry of Industry, Commerce and Supplies is working on project compilation and listing. So far, a list of 115 projects has been prepared to be presented during the summit.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '20314',
			'article_category_id' => '1',
			'title' => 'Foreign Investment Commitments Hit All-Time Low in mid-January to mid-February in Current FY',
			'sub_title' => '',
			'summary' => 'February 22: Foreign investors pledged the least foreign direct investment (FDI) for Nepal in a one-month period from mid-January to mid-February compared to other months of the current fiscal year.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: Foreign investors pledged the least foreign direct investment (FDI) for Nepal in a one-month period from mid-January to mid-February compared to other months of the current fiscal year.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to the data released by the Department of Industries, Nepal received foreign investment commitments worth Rs 345 million in the review month.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Foreign investment commitment in mid-January to mid-February was about 80 percent less than the commitment in the previous month. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Approval of foreign investment projects was also the lowest in the review month. According to the data, the Department of Industries approved 15 projects with foreign investment projects in mid-January to mid-February. Compared to the first month of the current fiscal year (mid-July to mid-August), project approval and investment commitments have been gradually decreasing in the following months and reached the lowest point in mid-January to mid-February.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The data of the department shows that the highest number of projects were registered in mid-July to mid-August. As a result, the amount of foreign investment commitments in mid-July to mid-August was also more than in other months. A total of 60 projects with foreign investment commitments worth Rs 11.93 billion were approved in mid-July to mid-August.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">As per the legal provision, the Department of Industries is authorized to approve foreign investment for small, medium and large industries/projects.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">In mid-January to mid-February, the department approved only small-scale projects. All the 15 projects approved in mid-January to mid-February were small in size.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to the department, Nepal received foreign investment commitments worth Rs 22.68 billion from mid-July to mid-February in the current fiscal year. During this period, the Department of Industries approved 241 projects in total. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">In the previous fiscal year, the country received foreign investment commitments equal to Rs 38. 40 billion. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The data of decline in FDI commitment was released at a time when the government is preparing to hold the Third Investment Summit in late April this year.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '20313',
			'article_category_id' => '1',
			'title' => 'Over 150,000 Cases yet to be Settled in Courts Across Nepal  ',
			'sub_title' => '',
			'summary' => 'February 22: A total of 158,147 cases remain to be settled in the Supreme Court and subordinate courts and tribunals.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: A total of 158,147 cases remain to be settled in the Supreme Court and subordinate courts and tribunals.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">This was revealed by the annual report of the Supreme Court, Judicial Council and Judicial Service Commission for the fiscal year 2079/80 BS which was presented to President Ram Chandra Paudel by Chief Justice Bishwambhar Prasad Shrestha on Wednesday. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the report, altogether 339,990 cases and writs were registered at the apex court and subordinate courts and tribunals since the last fiscal year including 180,139 new cases in the current fiscal year. Of them, 181,843 or 53.48 per cent cases and writs have been settled, according to the report. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Out of a total of 38,933 cases and writs, including 29,654 transferred to the Supreme Court since last fiscal year and 9,279 newly registered in this fiscal year, 11,073 or 28.44 per cent have been settled while 27,860 are still pending.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, out of a total of 62,854 cases and writ petitions, including 25,854 transferred to 18 high courts and benches since last fiscal year and 37,000 newly registered cases in this fiscal year, 38,868 or 61.84 per cent have been settled and 23,986 remain to be sorted out.&nbsp; &nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the annual report, out of a total of 234,837 cases and writs, including 102,369 transferred to the district courts since last fiscal year and 132,468 newly registered in this fiscal year, 130,407 or 55.53 per cent have been settled while 104,430 are pending.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Among 3,366 cases, including 1,974 transferred to other courts and tribunals since last fiscal year and 1,392 newly registered in this fiscal year, 1,495 cases or 44.41 per cent have been settled and 1,871 remain to be sorted out. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to Article 138 of the Constitution, the Supreme Court has to submit its annual report to the president every year. -- RSS</span></span></span></p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '20311',
			'article_category_id' => '1',
			'title' => 'Possibility of Light Rain and Snowfall Today   ',
			'sub_title' => '',
			'summary' => 'February 22: The weather of the country will remain partly to generally cloudy today due to the influence of the westerly low pressure system, according to the Weather Forecasting Division.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: The weather of the country will remain partly to generally cloudy today due to the influence of the westerly low pressure system, according to the Weather Forecasting Division.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">There is a possibility of light rainfall with thunder and lightning in some places of hill areas of Koshi and Madhes provinces and in one or two places of the rest of the country. The division also said that there is possibility of light snowfall in some places of high hills and mountainous areas of the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Later tonight, the weather will remain partly cloudy in Koshi, Madhes and Bagmati provinces, with clear weather in remaining parts of the country. There is possibility of sporadic rain at one or two places in the hill areas of Koshi and Gandaki provinces. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The maximum temperature of Kathmandu will remain 21.5 degrees Celsius and the minimum temperature is expected to be 9.3 degree Celsius. -- RSS</span></span></span></p>
',
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			'sortorder' => '20038',
			'image' => '20240222093222_snowwwwwww.jpg',
			'article_date' => '2024-02-22 09:31:25',
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	(int) 9 => array(
		'Article' => array(
			'id' => '20310',
			'article_category_id' => '1',
			'title' => 'Nepal’s Trade Deficit Stands at Rs 811 Billion in First Seven Months of Current FY    ',
			'sub_title' => '',
			'summary' => 'February 21: The country experienced ballooning trade deficit of Rs 811.11 billion in the first seven months of the current fiscal year. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 21: The country experienced ballooning trade deficit of Rs 811.11 billion in the first seven months of the current fiscal year. According to the Department of Customs, the total volume of Nepal&rsquo;s foreign trade during the review period stood at Rs 984.77 billion. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the data made public by the department on Wednesday, the country&rsquo;s imports amounted to around Rs 897.94 billion while the export earnings were equal to Rs 86.83 billion as of mid-February in the current fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In comparison to the first seven months of the last fiscal year, the country&rsquo;s imports decreased by 2.31 and exports dropped by 7.07 percent. According to the department, trade deficit decreased by 1.77 percent compared to last year as the overall trade dropped by 2.75 percent this year. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">India remained as the largest trading partner of Nepal. Imports from India amounted to Rs 554.75 billion, while goods worth only Rs 58.72 billion were exported to the southern neighbour. Nepal suffered a trade deficit of Rs 496.36 billion with India alone in the seven months of the current fiscal year. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Nepal suffered a trade deficit of Rs 171.23 billion with China, which is the second largest trading country. Goods worth Rs 173.91 billion were imported from China till mid-February while the export amount stood at Rs 1.85 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, the United Arab Emirates is at number three in the list of countries with high trade deficit of Nepal. During the seven months of the current fiscal year, the imports from UAE amounted to Rs 15.69 billion and the export stood at Rs 1.58 billion. The trade deficit with the UAE was Rs 14.11 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Nepal had the highest trade surplus with the United States in the review period. Imports from the US amounted to Rs 9.17 billion while export was Rs 9.54 billion. The trade surplus with the US amounted to Rs 364.7 million.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the department, Nepal has a trade deficit with Denmark, Norway, Afghanistan and the Maldives among other countries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The highest import during the review period was of petroleum products. In the first seven months, diesel amounting to Rs 77.41 billion, petrol worth Rs 38.82 billion and LP Gas worth Rs 30.31 billion were imported into Nepal. Likewise, iron-related materials worth Rs 22.66 billion and smart phones worth Rs 17.38 billion were also imported. -- RSS&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '20309',
			'article_category_id' => '1',
			'title' => 'EU Announces 50-Year Celebration of Nepal-EU Diplomatic Ties',
			'sub_title' => '',
			'summary' => 'The European Union (EU) has announced a year-long celebration to mark 50 years of diplomatic relations between Nepal and the EU.   Organizing a press conference in the capital recently, EU Ambassador to Nepal Veronique Lorenzo announced various activities that the EU plans to organize in Nepal to mark the 50th anniversary of diplomatic relations.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21: The European Union (EU) has announced a year-long celebration to mark 50 years of diplomatic relations between Nepal and the EU.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Organizing a press conference in the capital recently, EU Ambassador to Nepal Veronique Lorenzo announced various activities that the EU plans to organize in Nepal to mark the 50th anniversary of diplomatic relations. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;This year, we celebrate 50 years of steadfast partnership, which grows stronger every year with our unwavering commitments to work together for peace and prosperity,&rdquo; said Ambassador Lorenzo.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Ambassador Lorenzo presented the highlights of the year-long celebrations, including the Nepal European Union Film Festival (NEUFF) &ndash; beginning on 20th March, Europe Day on 9th May, the EU-Nepal Business Forum and Fair on 15th and 16th May, a photo contest, and its exhibition in August, as well as the Erasmus Road Show throughout September in all seven provinces of Nepal, culminating with the &ldquo;Study in Europe&rdquo; Fair. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This year, the EU and Nepal celebrate 50 years of diplomatic relations with the slogan &ldquo;Growing Stronger Together.&rdquo;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;The EU and Nepal established political and economic relations in 1974 and signed a Cooperation Agreement on 1 June 1996. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Ambassador Lorenzo mentioned that both partners have undergone important changes over the past 50 years.</span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Nepal has become a Federal Democracy, while the European Economic Community became the European Union in 1993 and developed its common foreign and security policy from 2010, with the creation of the European External Action Service (EEAS). </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Over this time, the two partners have expanded their democratic and economic space and strengthened their shared interests. Today, the EU and Nepal share the commitment to protect and promote a rule-based international order, peace and prosperity, human rights, and democracy, said the envoy. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the occasion, Ambassador Lorenzo also highlighted the priority areas of EU&rsquo;s support to Nepal. &ldquo;As Nepal advances towards graduating from the LDC status by 2026, the EU and its Member States, our &ldquo;Team Europe,&rdquo; will continue to support Nepal in inclusive green growth, human capital development and good governance.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Lorenzo said that EU will support Nepal in renewable energy, where Nepal has massive potential. </span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '20308',
			'article_category_id' => '1',
			'title' => 'Foreign Aid to Nepal Shrinking due to Government’s Inability to Mobilize the Funds',
			'sub_title' => '',
			'summary' => 'February 21: Foreign grants provided by the donor agencies have been declining due to the decline in the capacity of the Government of Nepal to mobilize the foreign aid.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21: Foreign grants provided by the donor agencies have been declining due to the decline in the capacity of the Government of Nepal to mobilize the foreign aid.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the latest Development Cooperation Report published by the Ministry of Finance, the government of Nepal received USD 1.44 billion from donors as foreign aid in the FY 2021/22, which is the lowest since FY 2017/18.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the year FY 2020/21, the government received foreign aid worth USD 1.7 billion &ndash; a decline of 15.88 percent compared to the preceding FY when the foreign aid received by Nepal had reached an all-time high of USD 2 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to government officials, the main reason for the decrease in foreign aid is poor government spending and delays in reimbursement from donors.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Officials of the Ministry of Finance say that when capital expenditure is weak, the utilization of foreign loans will be low and this will affect the overall foreign aid received by the country. According to them, almost all foreign loans are used either for capital expenditure or for investing in certain projects of public institutions. However, these expenses have been slow for a long time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to former secretary Gopi Krishna Mainali, various conditions have to be fulfilled to reimbursement from donor agencies and if the government fails to comply with the conditions the donors do not release the full amount.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Foreign aid has been the main source for Nepal&#39;s development budget. However, due to the decrease in receiving such aid, the share of development aid in Nepal&#39;s budget decreased to 22.6 percent in FY 2021/22. It was 24.4 percent in FY 2020/21.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the report of the Ministry of Finance, there is a possibility that the foreign aid Nepal will receive will further decline in the next three years. The report points out that such a situation may arise due to changing geopolitical priorities and internal financial problems of development partners.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Among the development partners, Nepal received the maximum financial assistance from the World Bank in FY 2021/22. Of the total assistance of USD 484.9 million through the World Bank, USD 474.4 million was loan. The total disbursement by the Asian Development Bank was of USD 290 million including USD 265 million in loans. The International Monetary Fund provided USD 110 million as budgetary support for debt repayment.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the American aid organization USAID signed a maximum aid agreement worth USD 659 million in the review year, the actual payment was only USD 101.3 million. A major part of USAID&#39;s such payments was in the form of technical assistance worth USD 88.4 million.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review year, 99.5 percent of the total loans received by Nepal were mainly from five development partners - World Bank, Asian Development Bank, International Monetary Fund, India and Japan.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Likewise, 57.5 percent of the total grants was received from the United Nations, the United Kingdom, Norway, the European Union and the Global Alliance for Vaccines and Immunization (GAVI).</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '20307',
			'article_category_id' => '1',
			'title' => 'Govt Forms Committees to Study Operation of Int'l Airports, Restructure NAC   ',
			'sub_title' => '',
			'summary' => 'February 20: The government has formed a committee under the coordination of former Secretary Shankar Prasad Adhikari to study the prospects of construction and operation of international airports on public-private partnership model. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 20: The government has formed a committee under the coordination of former Secretary Shankar Prasad Adhikari to study the prospects of construction and operation of international airports on public-private partnership model.&nbsp; The committee has been asked to provide suggestions in this regard.&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Minister for Communications and Information Technology, Rekha Sharma, shared this during a press conference held on Tuesday to make public the decisions taken by the Council of Ministers.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Meanwhile, Minister Sharma said that the government has formed a study committee under the coordination of former Vice Chairman of NPC, Deependra Bahadur Chhetri, for the structural and managerial reform of Nepal Airlines Corporation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the cabinet meeting has agreed to royalty sharing among three-tiers of government as recommended by the National Natural Resources and Financial Commission.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government is planning to accept the proposal that allows people carrying the official passports of Nepal and Sri Lanka to travel between the two countries without requiring visa.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Minister Sharma, the government will delegate the authority for signing an agreement in this regard to the concerned government body. Also, the Foreign Ministry would be given authority to sign a memorandum of understanding between Nepal and Bangladesh on maintaining institutional relations on foreign affairs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government also approved the acquisition of land for the construction of a tower of 220-KV transmission line under the Tamakoshi-V hydro power project at Bigu rural municipalty-4, Dolakha.&nbsp;&nbsp;&nbsp; In addition to that, the cabinet meeting also approved acquisition of land and forest areas for various hydro power project including Upper Arun (Sankhuwasabha), Upper Rahughat (Myagdi), Super Kabeli Khola-A, Super Kabeli Kholi &#39;cascade&#39;, and Kabeli-III (Taplejung), Super Ambukhola (Dhading), and Sona Khola (Taplejung).&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cabinet meeting also decided to accept the grants worth Rs 11.70 billion from the UK for Green Growth Nepal and Nepal in Business (NIB) programmes.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A draft agreement on bilateral cooperation on intellectual property between the US Trademark Office, and Ministry of Industry, Commerce and Supplies has been approved by the Council of Ministers. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the government has approved the proposals for exploration of petroleum products at ten different spots across the country in the Terai region.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Council of Ministers also approved the draft of trade and investment agreement between Nepal and Australia, while a high level committee has been formed under the coordination of former secretary Madhu Sudan Adhikari on enforcement of Supreme Court orders relating to the compensation of land owned by the Koshi Tappu Wildlife Reserve.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government has also approved the directive on poor household identification and identity card distribution, 2080.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cabinet meeting also decided to approve the Electronic Purchase System Operation (first amendment) Directive, 2080, while the bill designed to amend the Secured Transaction Act, 2063 will be tabled in the parliament. -- RSS</span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '20306',
			'article_category_id' => '1',
			'title' => 'Number of Problematic Cooperatives Reaches Eighteen',
			'sub_title' => '',
			'summary' => 'February 21: The number of cooperatives declared problematic by the government has reached one and a half dozen. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 21: The number of cooperatives declared problematic by the government has reached one and a half dozen. They were declared as problematic after they failed to return the savings of the general public. After the government declared three more cooperatives as problematic in the last few weeks, 18 cooperatives have now come under the responsibility of the Cooperatives Management Committee.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Ministry of Land Management and Cooperatives declared Hamro Naya Krishi Cooperative, Krishi Bikas Multipurpose Cooperative and Kantipur Savings and Credit Cooperative as problematic and assigned the committee the responsibility of distributing the assets and liabilities of those cooperatives to the depositors. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Himalayan Bikram Malla, president of Kantipur Savings and Credit Cooperative, has been arrested and the police have started investigation into alleged irregularities. Earlier, in the current fiscal year, three other cooperatives were declared problematic and handed over to the committee. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Section 104 of the Cooperatives Act, 2074 has a provision for the ministry to declare a cooperative as problematic upon the recommendation of the cooperative registrar if it cannot return the depositors&rsquo; savings, is in a serious financial crisis and has financial irregularities.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Section 105 of the same Act has a provision that allows the formation of a management committee to manage the assets of problematic organizations and to pay their liabilities.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The committee must be chaired by a former judge of the high court or a person working in a special category in the judicial service, and must have one representative nominated by the government, one representative from the national cooperative federation, two experts in the cooperative sector, one person who is a chartered accountant and has worked in a bank and financial institution for three years, and a member secretary appointed by the government. The committee has the right to investigate the assets and liabilities and to auction them and return the money to the depositors.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '20304',
			'article_category_id' => '1',
			'title' => 'NRB urges General Public not to get Swayed by Rumors about Banking Sector',
			'sub_title' => '',
			'summary' => 'February 21:  Nepal Rastra Bank (NRB) has assured that the money deposited in banks are safe.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21:&nbsp; Nepal Rastra Bank (NRB) has assured that the money deposited in banks are safe. The central bank made such a remark following rumors that banks are going bankrupt and the money deposited in banks are at high risk, which the NRB has termed as baseless.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Issuing a notice on Tuesday, the NRB urged the general public not to be influenced by rumors spread by groups with vested interest to mislead the people about the financial health of the banking sector.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank has urged the investors, depositors, clients and stakeholders to confidently continue banking transactions.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The NRB also stated that its serious attention has been drawn towards the misleading statements and misinformation given by some individuals and groups regarding the stability of the banks and financial institutions (BFIs). The NRB assured that the BFIs are operating under the direct supervision of the central bank by abiding to the regulations.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This is the first time that the regulatory body made its views public regarding the issue after the misinformation spread by various groups and individuals with vested interest started affecting the public&rsquo;s trust towards the banking sector.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The notice further states that the NRB has been strictly monitoring the transactions of BFIs and assured that the money deposited by the general public is not under any risk.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The latest reports show that the banking sector is in sound health and under strict supervision of the central bank, reads the notice.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank also urged the investors not to believe in rumors spread to discredit a sensitive sector like the banking sector.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank also mentioned that the banking sector is the backbone of the country&#39;s economy and the NRB is carrying out monitoring and supervision of the banks on a regular basis to maintain stability of the BFIs and to promote public trust.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Global IME Bank Launches Branchless Service in Pancthar',
			'sub_title' => '',
			'summary' => 'Global IME Bank Limited has launched branchless banking service in Ward No. 12, Deri Bazaar of Panchthar Municipality. Along with this, the number of branchless banking services of the bank has reached 275.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 22: Global IME Bank Limited has launched branchless banking service in Ward No. 12, Deri Bazaar of Panchthar Municipality. Along with this, the number of branchless banking services of the bank has reached 275.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Deputy Mayor Radhakrishna Neupane of Panchthar Municipality, Ward Chairman Kamal Prasad Chapagai of Ward No. 12, and Assistant General Manager Dilip Pokharel of the bank jointly inaugurated the branchless service.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Locals of the rural vicinity are expected to access various banking services from the new service point.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&nbsp;Services such as opening savings accounts, depositing up to a certain limit, withdrawing funds, inquiring about the balance in their accounts, paying loan interests, and other services will be available from the newly-launched banking service. </span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '20048',
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			'article_date' => '2024-02-22 15:41:28',
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			'article_category_id' => '1',
			'title' => 'Nepal SBI Bank Plants Trees in Pashupatinath Temple',
			'sub_title' => '',
			'summary' => 'Nepal SBI Bank Limited recently conducted tree plantation in the premises of Pashupatinath Temple in Kathmandu. The tree plantation was carried out by the bank in the presence of the Managing Director of State Bank of India (Risk, Compliance, and Audit) Alok Kumar Chaudhary.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">February 22: Nepal SBI Bank Limited recently conducted tree plantation in the premises of Pashupatinath Temple in Kathmandu. The tree plantation was carried out by the bank in the presence of the Managing Director of State Bank of India (Risk, Compliance, and Audit) Alok Kumar Chaudhary.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Chief Operating Officer of the bank, Yadabendra Kant, the bank&#39;s consultant Chhabiraj Pant, the Chief Business Development Officer of the bank Ritesh Aryal, and other officials of the bank participated in the program. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">&ldquo;The bank planted the trees in the premises of the sacred site under its corporate social responsibility,&rdquo; the bank said.&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has been providing services through 97 branches, 22 extension counters, seven provincial offices, and one corporate office, along with 121 ATMs.</span></span></p>
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			'article_date' => '2024-02-22 15:27:58',
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			'id' => '20319',
			'article_category_id' => '1',
			'title' => 'Bharatpur Stands First in Performance Evaluation among Six Metropolises',
			'sub_title' => '',
			'summary' => 'February 22: Bharatpur Metropolitan City has been declared the best metropolis in performance evaluation among six metropolitan cities across the country.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: Bharatpur Metropolitan City has been declared the best metropolis in performance evaluation among six metropolitan cities across the country.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bharatpur metropolis came first in the evaluation carried out the National Natural Resources and Fiscal Commission for the previous financial year. The evaluation was carried out on the basis of 17 indicators for the purpose of the financial equalization grant to be provided by the federal government to the province and local levels in the upcoming fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The expenses incurred by the municipality, the irregularities pointed out by the audit, the use of the local consolidated fund management system, periodic planning and division of revenue were assessed. Local tax collection, approval of budget within the time were the other grounds for evaluation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The local level is provided a lump sum equalization grant based on the evaluation. The NNRFC evaluates and publishes the results especially in connection with the accounting system and financial system.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Head of the Economic Administration Division of the Bharatpur metropolis, Jagannath Aryal, said that Bharatpur has scored 56.29 percent according to the information given by the commission.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Likewise, Kathmandu Metropolitan City secured 39.02 percent, Birganj received 33.49 percent, Biratnagar 32.85 percent, Lalitpur 25.18 percent and Pokhara 20.74 percent marks. -- RSS</span></span></span></p>
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			'id' => '20318',
			'article_category_id' => '1',
			'title' => 'NEA Team Off to Dhaka to Finalize Electricity Deal',
			'sub_title' => '',
			'summary' => 'February 22: A team of Nepal Electricity Authority has reached Dhaka, the capital of Bangladesh, to finalize the export of 40 megawatts of electricity to Bangladesh from the upcoming monsoon season.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: A team of Nepal Electricity Authority has reached Dhaka, the capital of Bangladesh, to finalize the export of 40 megawatts of electricity to Bangladesh from the upcoming monsoon season. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The delegation led by NEA Executive Director Kulman Ghising, left for Dhaka on Wednesday. The team will fix the price of electricity to be exported to Bangladesh.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to NEA sources, there will be a bilateral talks between the Energy Secretary of Bangladesh and the NEA team in Dhaka. The executive director of the authority Ghising said that preparations have been made to export electricity from Nepal to Bangladesh from the upcoming monsoon season. Before leaving for Bangladesh, Ghising told reporters that most of the technical work for electricity export has reached the final stage. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh has already called for tenders to purchase electricity from Nepal. With Bangladesh calling for bids, the NEA has proposed to provide electricity from Rs 8.96 to Rs 9.28 per unit. The NEA team went to Dhaka to finalize the proposal through mutual agreement.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Council of Ministers of Bangladesh last month gave in-principle approval to the proposal to import electricity from Nepal. India has agreed to allow 40 MW of electricity to be sent from Nepal to Bangladesh through the Muzaffarpur 400 KV transmission line. NEA said that Bangladesh will bear the wheeling charges incurred when exporting electricity to Bangladesh using the Indian transmission lines. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The proposal prepared by the NEA also offers a discount if Bangladesh makes the payment soon. The NEA has set a condition that the payment for the electricity exported from Nepal should be made within 45 days. The authority has proposed to give a certain discount if the payment is made within 7 days of issuing the bill.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Quoting Bangladeshi energy experts, the Daily Observer newspaper published from Bangladesh has written that the rate offered by the NEA to Bangladesh is expensive. Bangladeshi energy experts argue that there is a possibility that more energy can be imported from Nepal in the future, and since the agreement with Nepal is the first, its provisions will become a precedent for the tariff negotiations of every future project.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh is currently producing electricity from coal and diesel power plants. The price of diesel and coal has been increasing of late and pollution is also increasing in Bangladesh. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Bangladesh is also under pressure to reduce environmental pollution. It has no other option but to close diesel and coal-based power plants. Due to lack of sufficient land, the possibility of solar energy production is also low. Therefore, Bangladesh has to import electricity from other countries. Currently, Bangladesh&#39;s total electricity demand is about 25,000 MW. Bangladesh aims to buy 10,000 megawatts of electricity from neighboring countries by 2040 to meet its domestic demand.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">To meet its demand, Bangladesh is planning to import electricity from Nepal by constructing the 683 MW Sunkoshi III hydropower project with joint investment. Dhaka has also expressed its willingness to enter into an agreement for the purchase of 500 MW of electricity from the 900 MW Upper Karnali Hydropower Project.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '20317',
			'article_category_id' => '1',
			'title' => 'Lumbini Provincial Hospital Best Government Hospital in the Country   ',
			'sub_title' => '',
			'summary' => 'February 22: Butwal-based Lumbini Provincial Hospital has been declared the best among the government hospitals in the country. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: Butwal-based Lumbini Provincial Hospital has been declared the best among the government hospitals in the country. The result was based on an evaluation of minimum service standards.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Medical Superintendent of the hospital, Dr Sudarshan Thapa, shared that Lumbini Provincial Hospital has succeeded in being the top hospital for the third time. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the Health Directorate&rsquo;s Minimum Service Standards Evaluation Committee, Lumbini Provincial Hospital scored 89 points this year in the evaluation of the minimum service standards of secondary B-level hospitals.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Subjects like good governance and management of the hospital, clinical management and support services of the hospital are the main criteria in the evaluation. The evaluation committee consists of representatives from the Federal Ministry of Health and Population, Lumbini Province Health Directorate, Dang and Nick Simmons Institute, Kathmandu.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Patients from Palpa, Gulmi, Arghakhanchi, Kapilvastu, Nawalparasi, Pyuthan, Syangja, Rukum, Rolpa and other districts of Lumbini Province come to Lumbini Provincial Hospital for treatment. -- RSS</span></span></span></p>
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			'id' => '20315',
			'article_category_id' => '1',
			'title' => 'Government to Invite Billionaires from Adani to Musk for the Investment Summit',
			'sub_title' => '',
			'summary' => 'February 22: The Government of Nepal has sent invitation to rich and famous people of the world to participate in the Third Investment Summit to be held in Kathmandu on April 28 and 29.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: The Government of Nepal has sent invitation to rich and famous people of the world to participate in the Third Investment Summit to be held in Kathmandu on April 28 and 29. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to Investment Board Nepal&rsquo;s Spokesperson Pradyumna Prasad Upadhyay, invitation has been sent to 17 high-profile individuals of renowned foreign companies including Indian billionaires Gautam Adani and Mukesh Ambani; American billionaire and founder of Space X and Tesla, Alan Musk; Meta (Facebook) founder Mark Zuckerberg among others.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Upadhyay added that Nepali embassies abroad have been requested to help in informing foreign investors about the upcoming investment summit. Accordingly, the embassies have started sending the list of investors and high-profile individuals to the board.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The government expects around 1,000 people, including investors, heads of government, ministers of commerce and industry, domestic investors, and development partners to attend the summit. The board&rsquo;s spokesperson Upadhyay said that there are 1,000 people on the guests&rsquo; list for the summit. Upadhyay said that all of them will be invited.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The prime minister, minister for finance, chief executive officer of the Investment Board are being corresponding with their counterparts abroad. According to spokesperson Upadhyay, correspondence has been started with investors through Nepal&rsquo;s consul general in foreign countries, embassies, high-ranking officials of multinational companies operating in Nepal and private sector businessmen.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Investment Summit Secretariat is currently working on correspondence. The prime minister, finance minister, CEO of Investment Board, and private sector businessmen will send invitation based on their personal acquaintance and relationship, so it is expected that investors and prime ministers of friendly countries will attend the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Apart from investors, invitation will also be sent to the prime minister of India as well as high-ranking officials including the Minister for Industry and Commerce of South Korea and China to participate in the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The board is also preparing to invite the heads of donor agencies that have been helping Nepal.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The government is busy in policy reforms and preparation of projects to be showcased during the summit.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Currently, the Ministry of Industry, Commerce and Supplies is preparing to present bills to the cabinet for reforms in laws based on the recommendation made by the Policy, Law and Structural Reform Taskforce.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">A technical committee formed under the coordination of the Secretary of the Ministry of Industry, Commerce and Supplies is working on project compilation and listing. So far, a list of 115 projects has been prepared to be presented during the summit.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '20314',
			'article_category_id' => '1',
			'title' => 'Foreign Investment Commitments Hit All-Time Low in mid-January to mid-February in Current FY',
			'sub_title' => '',
			'summary' => 'February 22: Foreign investors pledged the least foreign direct investment (FDI) for Nepal in a one-month period from mid-January to mid-February compared to other months of the current fiscal year.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 22: Foreign investors pledged the least foreign direct investment (FDI) for Nepal in a one-month period from mid-January to mid-February compared to other months of the current fiscal year.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to the data released by the Department of Industries, Nepal received foreign investment commitments worth Rs 345 million in the review month.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Foreign investment commitment in mid-January to mid-February was about 80 percent less than the commitment in the previous month. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Approval of foreign investment projects was also the lowest in the review month. According to the data, the Department of Industries approved 15 projects with foreign investment projects in mid-January to mid-February. Compared to the first month of the current fiscal year (mid-July to mid-August), project approval and investment commitments have been gradually decreasing in the following months and reached the lowest point in mid-January to mid-February.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The data of the department shows that the highest number of projects were registered in mid-July to mid-August. As a result, the amount of foreign investment commitments in mid-July to mid-August was also more than in other months. A total of 60 projects with foreign investment commitments worth Rs 11.93 billion were approved in mid-July to mid-August.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">As per the legal provision, the Department of Industries is authorized to approve foreign investment for small, medium and large industries/projects.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">In mid-January to mid-February, the department approved only small-scale projects. All the 15 projects approved in mid-January to mid-February were small in size.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">According to the department, Nepal received foreign investment commitments worth Rs 22.68 billion from mid-July to mid-February in the current fiscal year. During this period, the Department of Industries approved 241 projects in total. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">In the previous fiscal year, the country received foreign investment commitments equal to Rs 38. 40 billion. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The data of decline in FDI commitment was released at a time when the government is preparing to hold the Third Investment Summit in late April this year.</span></span></span></p>

<p>&nbsp;</p>
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			'id' => '20313',
			'article_category_id' => '1',
			'title' => 'Over 150,000 Cases yet to be Settled in Courts Across Nepal  ',
			'sub_title' => '',
			'summary' => 'February 22: A total of 158,147 cases remain to be settled in the Supreme Court and subordinate courts and tribunals.    ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: A total of 158,147 cases remain to be settled in the Supreme Court and subordinate courts and tribunals.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">This was revealed by the annual report of the Supreme Court, Judicial Council and Judicial Service Commission for the fiscal year 2079/80 BS which was presented to President Ram Chandra Paudel by Chief Justice Bishwambhar Prasad Shrestha on Wednesday. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the report, altogether 339,990 cases and writs were registered at the apex court and subordinate courts and tribunals since the last fiscal year including 180,139 new cases in the current fiscal year. Of them, 181,843 or 53.48 per cent cases and writs have been settled, according to the report. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Out of a total of 38,933 cases and writs, including 29,654 transferred to the Supreme Court since last fiscal year and 9,279 newly registered in this fiscal year, 11,073 or 28.44 per cent have been settled while 27,860 are still pending.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, out of a total of 62,854 cases and writ petitions, including 25,854 transferred to 18 high courts and benches since last fiscal year and 37,000 newly registered cases in this fiscal year, 38,868 or 61.84 per cent have been settled and 23,986 remain to be sorted out.&nbsp; &nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the annual report, out of a total of 234,837 cases and writs, including 102,369 transferred to the district courts since last fiscal year and 132,468 newly registered in this fiscal year, 130,407 or 55.53 per cent have been settled while 104,430 are pending.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Among 3,366 cases, including 1,974 transferred to other courts and tribunals since last fiscal year and 1,392 newly registered in this fiscal year, 1,495 cases or 44.41 per cent have been settled and 1,871 remain to be sorted out. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to Article 138 of the Constitution, the Supreme Court has to submit its annual report to the president every year. -- RSS</span></span></span></p>
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			'sortorder' => '20040',
			'image' => '20240222103842_RSS_20240221163228_PSP_8469(1).jpg',
			'article_date' => '2024-02-22 10:38:01',
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	(int) 8 => array(
		'Article' => array(
			'id' => '20311',
			'article_category_id' => '1',
			'title' => 'Possibility of Light Rain and Snowfall Today   ',
			'sub_title' => '',
			'summary' => 'February 22: The weather of the country will remain partly to generally cloudy today due to the influence of the westerly low pressure system, according to the Weather Forecasting Division.    ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 22: The weather of the country will remain partly to generally cloudy today due to the influence of the westerly low pressure system, according to the Weather Forecasting Division.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">There is a possibility of light rainfall with thunder and lightning in some places of hill areas of Koshi and Madhes provinces and in one or two places of the rest of the country. The division also said that there is possibility of light snowfall in some places of high hills and mountainous areas of the country.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Later tonight, the weather will remain partly cloudy in Koshi, Madhes and Bagmati provinces, with clear weather in remaining parts of the country. There is possibility of sporadic rain at one or two places in the hill areas of Koshi and Gandaki provinces. &nbsp;&nbsp;&nbsp;&nbsp;</span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The maximum temperature of Kathmandu will remain 21.5 degrees Celsius and the minimum temperature is expected to be 9.3 degree Celsius. -- RSS</span></span></span></p>
',
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			'description' => '',
			'sortorder' => '20038',
			'image' => '20240222093222_snowwwwwww.jpg',
			'article_date' => '2024-02-22 09:31:25',
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	(int) 9 => array(
		'Article' => array(
			'id' => '20310',
			'article_category_id' => '1',
			'title' => 'Nepal’s Trade Deficit Stands at Rs 811 Billion in First Seven Months of Current FY    ',
			'sub_title' => '',
			'summary' => 'February 21: The country experienced ballooning trade deficit of Rs 811.11 billion in the first seven months of the current fiscal year. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">February 21: The country experienced ballooning trade deficit of Rs 811.11 billion in the first seven months of the current fiscal year. According to the Department of Customs, the total volume of Nepal&rsquo;s foreign trade during the review period stood at Rs 984.77 billion. </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the data made public by the department on Wednesday, the country&rsquo;s imports amounted to around Rs 897.94 billion while the export earnings were equal to Rs 86.83 billion as of mid-February in the current fiscal year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">In comparison to the first seven months of the last fiscal year, the country&rsquo;s imports decreased by 2.31 and exports dropped by 7.07 percent. According to the department, trade deficit decreased by 1.77 percent compared to last year as the overall trade dropped by 2.75 percent this year. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">India remained as the largest trading partner of Nepal. Imports from India amounted to Rs 554.75 billion, while goods worth only Rs 58.72 billion were exported to the southern neighbour. Nepal suffered a trade deficit of Rs 496.36 billion with India alone in the seven months of the current fiscal year. </span></span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, Nepal suffered a trade deficit of Rs 171.23 billion with China, which is the second largest trading country. Goods worth Rs 173.91 billion were imported from China till mid-February while the export amount stood at Rs 1.85 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Similarly, the United Arab Emirates is at number three in the list of countries with high trade deficit of Nepal. During the seven months of the current fiscal year, the imports from UAE amounted to Rs 15.69 billion and the export stood at Rs 1.58 billion. The trade deficit with the UAE was Rs 14.11 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">Nepal had the highest trade surplus with the United States in the review period. Imports from the US amounted to Rs 9.17 billion while export was Rs 9.54 billion. The trade surplus with the US amounted to Rs 364.7 million.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">According to the department, Nepal has a trade deficit with Denmark, Norway, Afghanistan and the Maldives among other countries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;">The highest import during the review period was of petroleum products. In the first seven months, diesel amounting to Rs 77.41 billion, petrol worth Rs 38.82 billion and LP Gas worth Rs 30.31 billion were imported into Nepal. Likewise, iron-related materials worth Rs 22.66 billion and smart phones worth Rs 17.38 billion were also imported. -- RSS&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '20309',
			'article_category_id' => '1',
			'title' => 'EU Announces 50-Year Celebration of Nepal-EU Diplomatic Ties',
			'sub_title' => '',
			'summary' => 'The European Union (EU) has announced a year-long celebration to mark 50 years of diplomatic relations between Nepal and the EU.   Organizing a press conference in the capital recently, EU Ambassador to Nepal Veronique Lorenzo announced various activities that the EU plans to organize in Nepal to mark the 50th anniversary of diplomatic relations.',
			'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21: The European Union (EU) has announced a year-long celebration to mark 50 years of diplomatic relations between Nepal and the EU.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Organizing a press conference in the capital recently, EU Ambassador to Nepal Veronique Lorenzo announced various activities that the EU plans to organize in Nepal to mark the 50th anniversary of diplomatic relations. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&ldquo;This year, we celebrate 50 years of steadfast partnership, which grows stronger every year with our unwavering commitments to work together for peace and prosperity,&rdquo; said Ambassador Lorenzo.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Ambassador Lorenzo presented the highlights of the year-long celebrations, including the Nepal European Union Film Festival (NEUFF) &ndash; beginning on 20th March, Europe Day on 9th May, the EU-Nepal Business Forum and Fair on 15th and 16th May, a photo contest, and its exhibition in August, as well as the Erasmus Road Show throughout September in all seven provinces of Nepal, culminating with the &ldquo;Study in Europe&rdquo; Fair. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This year, the EU and Nepal celebrate 50 years of diplomatic relations with the slogan &ldquo;Growing Stronger Together.&rdquo;&nbsp;</span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;The EU and Nepal established political and economic relations in 1974 and signed a Cooperation Agreement on 1 June 1996. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Ambassador Lorenzo mentioned that both partners have undergone important changes over the past 50 years.</span></span><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Nepal has become a Federal Democracy, while the European Economic Community became the European Union in 1993 and developed its common foreign and security policy from 2010, with the creation of the European External Action Service (EEAS). </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Over this time, the two partners have expanded their democratic and economic space and strengthened their shared interests. Today, the EU and Nepal share the commitment to protect and promote a rule-based international order, peace and prosperity, human rights, and democracy, said the envoy. </span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">On the occasion, Ambassador Lorenzo also highlighted the priority areas of EU&rsquo;s support to Nepal. &ldquo;As Nepal advances towards graduating from the LDC status by 2026, the EU and its Member States, our &ldquo;Team Europe,&rdquo; will continue to support Nepal in inclusive green growth, human capital development and good governance.</span></span></p>

<p><span style="font-size:20px"><span style="font-family:Calibri,&quot;sans-serif&quot;">&nbsp;Lorenzo said that EU will support Nepal in renewable energy, where Nepal has massive potential. </span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '20308',
			'article_category_id' => '1',
			'title' => 'Foreign Aid to Nepal Shrinking due to Government’s Inability to Mobilize the Funds',
			'sub_title' => '',
			'summary' => 'February 21: Foreign grants provided by the donor agencies have been declining due to the decline in the capacity of the Government of Nepal to mobilize the foreign aid.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21: Foreign grants provided by the donor agencies have been declining due to the decline in the capacity of the Government of Nepal to mobilize the foreign aid.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the latest Development Cooperation Report published by the Ministry of Finance, the government of Nepal received USD 1.44 billion from donors as foreign aid in the FY 2021/22, which is the lowest since FY 2017/18.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the year FY 2020/21, the government received foreign aid worth USD 1.7 billion &ndash; a decline of 15.88 percent compared to the preceding FY when the foreign aid received by Nepal had reached an all-time high of USD 2 billion. </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to government officials, the main reason for the decrease in foreign aid is poor government spending and delays in reimbursement from donors.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Officials of the Ministry of Finance say that when capital expenditure is weak, the utilization of foreign loans will be low and this will affect the overall foreign aid received by the country. According to them, almost all foreign loans are used either for capital expenditure or for investing in certain projects of public institutions. However, these expenses have been slow for a long time.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to former secretary Gopi Krishna Mainali, various conditions have to be fulfilled to reimbursement from donor agencies and if the government fails to comply with the conditions the donors do not release the full amount.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Foreign aid has been the main source for Nepal&#39;s development budget. However, due to the decrease in receiving such aid, the share of development aid in Nepal&#39;s budget decreased to 22.6 percent in FY 2021/22. It was 24.4 percent in FY 2020/21.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to the report of the Ministry of Finance, there is a possibility that the foreign aid Nepal will receive will further decline in the next three years. The report points out that such a situation may arise due to changing geopolitical priorities and internal financial problems of development partners.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Among the development partners, Nepal received the maximum financial assistance from the World Bank in FY 2021/22. Of the total assistance of USD 484.9 million through the World Bank, USD 474.4 million was loan. The total disbursement by the Asian Development Bank was of USD 290 million including USD 265 million in loans. The International Monetary Fund provided USD 110 million as budgetary support for debt repayment.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Although the American aid organization USAID signed a maximum aid agreement worth USD 659 million in the review year, the actual payment was only USD 101.3 million. A major part of USAID&#39;s such payments was in the form of technical assistance worth USD 88.4 million.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">In the review year, 99.5 percent of the total loans received by Nepal were mainly from five development partners - World Bank, Asian Development Bank, International Monetary Fund, India and Japan.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Likewise, 57.5 percent of the total grants was received from the United Nations, the United Kingdom, Norway, the European Union and the Global Alliance for Vaccines and Immunization (GAVI).</span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '20307',
			'article_category_id' => '1',
			'title' => 'Govt Forms Committees to Study Operation of Int'l Airports, Restructure NAC   ',
			'sub_title' => '',
			'summary' => 'February 20: The government has formed a committee under the coordination of former Secretary Shankar Prasad Adhikari to study the prospects of construction and operation of international airports on public-private partnership model. ',
			'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 20: The government has formed a committee under the coordination of former Secretary Shankar Prasad Adhikari to study the prospects of construction and operation of international airports on public-private partnership model.&nbsp; The committee has been asked to provide suggestions in this regard.&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Minister for Communications and Information Technology, Rekha Sharma, shared this during a press conference held on Tuesday to make public the decisions taken by the Council of Ministers.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Meanwhile, Minister Sharma said that the government has formed a study committee under the coordination of former Vice Chairman of NPC, Deependra Bahadur Chhetri, for the structural and managerial reform of Nepal Airlines Corporation.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the cabinet meeting has agreed to royalty sharing among three-tiers of government as recommended by the National Natural Resources and Financial Commission.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government is planning to accept the proposal that allows people carrying the official passports of Nepal and Sri Lanka to travel between the two countries without requiring visa.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">According to Minister Sharma, the government will delegate the authority for signing an agreement in this regard to the concerned government body. Also, the Foreign Ministry would be given authority to sign a memorandum of understanding between Nepal and Bangladesh on maintaining institutional relations on foreign affairs.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government also approved the acquisition of land for the construction of a tower of 220-KV transmission line under the Tamakoshi-V hydro power project at Bigu rural municipalty-4, Dolakha.&nbsp;&nbsp;&nbsp; In addition to that, the cabinet meeting also approved acquisition of land and forest areas for various hydro power project including Upper Arun (Sankhuwasabha), Upper Rahughat (Myagdi), Super Kabeli Khola-A, Super Kabeli Kholi &#39;cascade&#39;, and Kabeli-III (Taplejung), Super Ambukhola (Dhading), and Sona Khola (Taplejung).&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cabinet meeting also decided to accept the grants worth Rs 11.70 billion from the UK for Green Growth Nepal and Nepal in Business (NIB) programmes.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">A draft agreement on bilateral cooperation on intellectual property between the US Trademark Office, and Ministry of Industry, Commerce and Supplies has been approved by the Council of Ministers. </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Similarly, the government has approved the proposals for exploration of petroleum products at ten different spots across the country in the Terai region.</span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The Council of Ministers also approved the draft of trade and investment agreement between Nepal and Australia, while a high level committee has been formed under the coordination of former secretary Madhu Sudan Adhikari on enforcement of Supreme Court orders relating to the compensation of land owned by the Koshi Tappu Wildlife Reserve.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The government has also approved the directive on poor household identification and identity card distribution, 2080.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:16px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The cabinet meeting also decided to approve the Electronic Purchase System Operation (first amendment) Directive, 2080, while the bill designed to amend the Secured Transaction Act, 2063 will be tabled in the parliament. -- RSS</span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '20306',
			'article_category_id' => '1',
			'title' => 'Number of Problematic Cooperatives Reaches Eighteen',
			'sub_title' => '',
			'summary' => 'February 21: The number of cooperatives declared problematic by the government has reached one and a half dozen. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">February 21: The number of cooperatives declared problematic by the government has reached one and a half dozen. They were declared as problematic after they failed to return the savings of the general public. After the government declared three more cooperatives as problematic in the last few weeks, 18 cooperatives have now come under the responsibility of the Cooperatives Management Committee.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The Ministry of Land Management and Cooperatives declared Hamro Naya Krishi Cooperative, Krishi Bikas Multipurpose Cooperative and Kantipur Savings and Credit Cooperative as problematic and assigned the committee the responsibility of distributing the assets and liabilities of those cooperatives to the depositors. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Himalayan Bikram Malla, president of Kantipur Savings and Credit Cooperative, has been arrested and the police have started investigation into alleged irregularities. Earlier, in the current fiscal year, three other cooperatives were declared problematic and handed over to the committee. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Section 104 of the Cooperatives Act, 2074 has a provision for the ministry to declare a cooperative as problematic upon the recommendation of the cooperative registrar if it cannot return the depositors&rsquo; savings, is in a serious financial crisis and has financial irregularities.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">Section 105 of the same Act has a provision that allows the formation of a management committee to manage the assets of problematic organizations and to pay their liabilities.</span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:14.0pt">The committee must be chaired by a former judge of the high court or a person working in a special category in the judicial service, and must have one representative nominated by the government, one representative from the national cooperative federation, two experts in the cooperative sector, one person who is a chartered accountant and has worked in a bank and financial institution for three years, and a member secretary appointed by the government. The committee has the right to investigate the assets and liabilities and to auction them and return the money to the depositors.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'NRB urges General Public not to get Swayed by Rumors about Banking Sector',
			'sub_title' => '',
			'summary' => 'February 21:  Nepal Rastra Bank (NRB) has assured that the money deposited in banks are safe.',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">February 21:&nbsp; Nepal Rastra Bank (NRB) has assured that the money deposited in banks are safe. The central bank made such a remark following rumors that banks are going bankrupt and the money deposited in banks are at high risk, which the NRB has termed as baseless.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">Issuing a notice on Tuesday, the NRB urged the general public not to be influenced by rumors spread by groups with vested interest to mislead the people about the financial health of the banking sector.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank has urged the investors, depositors, clients and stakeholders to confidently continue banking transactions.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The NRB also stated that its serious attention has been drawn towards the misleading statements and misinformation given by some individuals and groups regarding the stability of the banks and financial institutions (BFIs). The NRB assured that the BFIs are operating under the direct supervision of the central bank by abiding to the regulations.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">This is the first time that the regulatory body made its views public regarding the issue after the misinformation spread by various groups and individuals with vested interest started affecting the public&rsquo;s trust towards the banking sector.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The notice further states that the NRB has been strictly monitoring the transactions of BFIs and assured that the money deposited by the general public is not under any risk.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The latest reports show that the banking sector is in sound health and under strict supervision of the central bank, reads the notice.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank also urged the investors not to believe in rumors spread to discredit a sensitive sector like the banking sector.</span></span></p>

<p><span style="font-size:18px"><span style="font-family:Calibri,&quot;sans-serif&quot;">The central bank also mentioned that the banking sector is the backbone of the country&#39;s economy and the NRB is carrying out monitoring and supervision of the banks on a regular basis to maintain stability of the BFIs and to promote public trust.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

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