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'summary' => 'September 14: Small and cottage industries entrepreneurs have been hard hit by the government’s directive to deal with financial transactions worth more than Rs 1 million through banking channel from the current fiscal year 2017/18.',
'content' => '<p>September 14: Small and cottage industries entrepreneurs have been hard hit by the government’s directive to deal with financial transactions worth more than Rs 1 million through banking channel from the current fiscal year 2017/18.</p>
<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
<p>According to the entrepreneurs, the provision has created problems specially while making payment for import raw materials. “Despite having money, we are not able to bring goods,” one of the entrepreneurs expressed his problem.</p>
<p>In addition, the entrepreneur said that in most of the situation transactions are done through cash payment and sometimes they also work in credit. “The changed provision has created problems for small transactions,” the entrepreneur said, adding, “Neither we can import raw materials fast through cash payment nor we can get the goods in credit like before.”</p>
<p>Meanwhile, Mohan Katuwal, president of the Federation of Nepal Cottage and Small Scale Industries (FNCSI) said that the government needs to introduce alternative provisions before implementing provisions that can create trouble to the entrepreneurs.</p>
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<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
<p>According to the entrepreneurs, the provision has created problems specially while making payment for import raw materials. “Despite having money, we are not able to bring goods,” one of the entrepreneurs expressed his problem.</p>
<p>In addition, the entrepreneur said that in most of the situation transactions are done through cash payment and sometimes they also work in credit. “The changed provision has created problems for small transactions,” the entrepreneur said, adding, “Neither we can import raw materials fast through cash payment nor we can get the goods in credit like before.”</p>
<p>Meanwhile, Mohan Katuwal, president of the Federation of Nepal Cottage and Small Scale Industries (FNCSI) said that the government needs to introduce alternative provisions before implementing provisions that can create trouble to the entrepreneurs.</p>
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include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
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Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
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'summary' => 'September 14: Small and cottage industries entrepreneurs have been hard hit by the government’s directive to deal with financial transactions worth more than Rs 1 million through banking channel from the current fiscal year 2017/18.',
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<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
<p>According to the entrepreneurs, the provision has created problems specially while making payment for import raw materials. “Despite having money, we are not able to bring goods,” one of the entrepreneurs expressed his problem.</p>
<p>In addition, the entrepreneur said that in most of the situation transactions are done through cash payment and sometimes they also work in credit. “The changed provision has created problems for small transactions,” the entrepreneur said, adding, “Neither we can import raw materials fast through cash payment nor we can get the goods in credit like before.”</p>
<p>Meanwhile, Mohan Katuwal, president of the Federation of Nepal Cottage and Small Scale Industries (FNCSI) said that the government needs to introduce alternative provisions before implementing provisions that can create trouble to the entrepreneurs.</p>
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<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
<p>According to the entrepreneurs, the provision has created problems specially while making payment for import raw materials. “Despite having money, we are not able to bring goods,” one of the entrepreneurs expressed his problem.</p>
<p>In addition, the entrepreneur said that in most of the situation transactions are done through cash payment and sometimes they also work in credit. “The changed provision has created problems for small transactions,” the entrepreneur said, adding, “Neither we can import raw materials fast through cash payment nor we can get the goods in credit like before.”</p>
<p>Meanwhile, Mohan Katuwal, president of the Federation of Nepal Cottage and Small Scale Industries (FNCSI) said that the government needs to introduce alternative provisions before implementing provisions that can create trouble to the entrepreneurs.</p>
<p>Also, he further commented that the government’s decisions should be business friendly. To find out a solution to the problem, entrepreneurs have decided to hold public discussions and seek for assistance from ministers and related ministries, said sources. </p>
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include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
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Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
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<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
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<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
<p>According to the entrepreneurs, the provision has created problems specially while making payment for import raw materials. “Despite having money, we are not able to bring goods,” one of the entrepreneurs expressed his problem.</p>
<p>In addition, the entrepreneur said that in most of the situation transactions are done through cash payment and sometimes they also work in credit. “The changed provision has created problems for small transactions,” the entrepreneur said, adding, “Neither we can import raw materials fast through cash payment nor we can get the goods in credit like before.”</p>
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<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
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<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
<p>According to the entrepreneurs, the provision has created problems specially while making payment for import raw materials. “Despite having money, we are not able to bring goods,” one of the entrepreneurs expressed his problem.</p>
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Small and Cottage Industries Hard Hit by New Banking Provision
1 min 53 sec to read
September 14: Small and cottage industries entrepreneurs have been hard hit by the government’s directive to deal with financial transactions worth more than Rs 1 million through banking channel from the current fiscal year 2017/18.
Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.
In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.
The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).
Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.
According to the entrepreneurs, the provision has created problems specially while making payment for import raw materials. “Despite having money, we are not able to bring goods,” one of the entrepreneurs expressed his problem.
In addition, the entrepreneur said that in most of the situation transactions are done through cash payment and sometimes they also work in credit. “The changed provision has created problems for small transactions,” the entrepreneur said, adding, “Neither we can import raw materials fast through cash payment nor we can get the goods in credit like before.”
Meanwhile, Mohan Katuwal, president of the Federation of Nepal Cottage and Small Scale Industries (FNCSI) said that the government needs to introduce alternative provisions before implementing provisions that can create trouble to the entrepreneurs.
Also, he further commented that the government’s decisions should be business friendly. To find out a solution to the problem, entrepreneurs have decided to hold public discussions and seek for assistance from ministers and related ministries, said sources.
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<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
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<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
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<p>Also, he further commented that the government’s decisions should be business friendly. To find out a solution to the problem, entrepreneurs have decided to hold public discussions and seek for assistance from ministers and related ministries, said sources. </p>
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<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
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<p>Also, he further commented that the government’s decisions should be business friendly. To find out a solution to the problem, entrepreneurs have decided to hold public discussions and seek for assistance from ministers and related ministries, said sources. </p>
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<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
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<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
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<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
<p>According to the entrepreneurs, the provision has created problems specially while making payment for import raw materials. “Despite having money, we are not able to bring goods,” one of the entrepreneurs expressed his problem.</p>
<p>In addition, the entrepreneur said that in most of the situation transactions are done through cash payment and sometimes they also work in credit. “The changed provision has created problems for small transactions,” the entrepreneur said, adding, “Neither we can import raw materials fast through cash payment nor we can get the goods in credit like before.”</p>
<p>Meanwhile, Mohan Katuwal, president of the Federation of Nepal Cottage and Small Scale Industries (FNCSI) said that the government needs to introduce alternative provisions before implementing provisions that can create trouble to the entrepreneurs.</p>
<p>Also, he further commented that the government’s decisions should be business friendly. To find out a solution to the problem, entrepreneurs have decided to hold public discussions and seek for assistance from ministers and related ministries, said sources. </p>
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
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'summary' => 'September 14: Small and cottage industries entrepreneurs have been hard hit by the government’s directive to deal with financial transactions worth more than Rs 1 million through banking channel from the current fiscal year 2017/18.',
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<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
<p>According to the entrepreneurs, the provision has created problems specially while making payment for import raw materials. “Despite having money, we are not able to bring goods,” one of the entrepreneurs expressed his problem.</p>
<p>In addition, the entrepreneur said that in most of the situation transactions are done through cash payment and sometimes they also work in credit. “The changed provision has created problems for small transactions,” the entrepreneur said, adding, “Neither we can import raw materials fast through cash payment nor we can get the goods in credit like before.”</p>
<p>Meanwhile, Mohan Katuwal, president of the Federation of Nepal Cottage and Small Scale Industries (FNCSI) said that the government needs to introduce alternative provisions before implementing provisions that can create trouble to the entrepreneurs.</p>
<p>Also, he further commented that the government’s decisions should be business friendly. To find out a solution to the problem, entrepreneurs have decided to hold public discussions and seek for assistance from ministers and related ministries, said sources. </p>
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<p>Government decided to make banking transaction compulsory in a bid to control investment on money laundering and terrorism. But the entrepreneurs have been bearing the brunt of the decision.</p>
<p>In order to effectively implement the Money Laundering Prevention Act, 2064, the government has made it compulsory for individuals, firms, companies or organizations to go through banking transactions while buying or selling any services and goods worth more than Rs 1 million starting from the first month of the current FY.</p>
<p>The provision will not have much impact on big business houses, according to Shekhar Golchha, senior vice-president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI).</p>
<p>Similarly, Rajesh Kaji Shrestha, president of Nepal Chamber of Commerce (NCC) mentioned that the traditional businesses are trying to adjust to the new system. However, small and cottage industry entrepreneurs said they are having a hard time due to the new directive.</p>
<p>According to the entrepreneurs, the provision has created problems specially while making payment for import raw materials. “Despite having money, we are not able to bring goods,” one of the entrepreneurs expressed his problem.</p>
<p>In addition, the entrepreneur said that in most of the situation transactions are done through cash payment and sometimes they also work in credit. “The changed provision has created problems for small transactions,” the entrepreneur said, adding, “Neither we can import raw materials fast through cash payment nor we can get the goods in credit like before.”</p>
<p>Meanwhile, Mohan Katuwal, president of the Federation of Nepal Cottage and Small Scale Industries (FNCSI) said that the government needs to introduce alternative provisions before implementing provisions that can create trouble to the entrepreneurs.</p>
<p>Also, he further commented that the government’s decisions should be business friendly. To find out a solution to the problem, entrepreneurs have decided to hold public discussions and seek for assistance from ministers and related ministries, said sources. </p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
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