Kathmandu University School of Management (KUSOM) has been selected for the “WTO Chairs Program (WCP)”.…
Kathmandu University School of Management (KUSOM) has been selected for the “WTO Chairs Program (WCP)”.…
October 19: Nepal Rastra Bank has implemented the Working Capital Loan Guidelines despite protest from the business community.…
October 19: Five finance ministers who steered the country's economy are vying for direct election on November 20.…
October 19: The prices of potatoes have increased by as much as 257 percent during the last six months due to the decline in domestic…
October 18: India has imposed a ban on wheat exports to avert a possible food crisis in the…
October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October…
October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant…
October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly…
October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and…
October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival.…
October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan…
October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the…
October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange…
October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn…
October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">October 19: Kathmandu University School of Management (KUSOM) has been selected for the “WTO Chairs Program (WCP)”. Chief Secretary Shanker Das Bairagi officially launched the programme in Nepal on Monday, October 17. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The WTO Chairs Programme aims to support and promote trade-related academic activities by universities and research institutions in developing and least-developed countries. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The WTO Chairs Programme has been providing financial and technical assistance to educational institutions in developing countries to facilitate the participation of the members of the World Trade Organization in the multilateral trading system. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Through this programme, the concerned countries aim to increase the knowledge of international trade, law and economics. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Prof. Dr. Achyut Wagle, co-chairman of WCP Nepal and registrar of Kathmandu University said that it is a matter of pride to bring such a programme to Nepal. He informed that the WCP will be operated for the next four years (2022-2026) through KUSOM focusing mainly on three tasks; curriculum development and teaching, research and capacity building.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Curriculum Development Courses related to international trade will be developed at various levels. Towards research, there will be study/research related to business. In addition, KUSOM informed that awareness programs will be conducted in international conferences under the training program for capacity building.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Prime Minister Sher Bahadur Deuba as well sent his message to KUSOM expressing hope that the programme in Nepal would help in formulating the trade and investment policy for Nepal. He said that the programme will help improve the major obstacles that Nepal faces in international trade especially in the field of supply. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Xiangchen Zhang, the Deputy Director General of the World Trade Organization said that such a network will help in promoting exchange of ideas and knowledge. Chief Secretary Bairagi stated that WCP will help to create new ideas in the field of business through education and research. He also provided assurance regarding the support from the government for the success of this programme.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15919', 'image' => '20221019042156_kusommmm.jpg', 'article_date' => '2022-10-19 16:20:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16177', 'article_category_id' => '1', 'title' => 'NRB Implements Working Capital Loan Guidelines Despite Protests', 'sub_title' => '', 'summary' => 'October 19: Nepal Rastra Bank has implemented the Working Capital Loan Guidelines despite protest from the business community. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">October 19: Nepal Rastra Bank has implemented the Working Capital Loan Guidelines despite protest from the business community. The central bank had issued the Working Capital Loan Guidelines 2079 about two months ago in order to fix a limit on working capital loan. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan of a company whose annual transaction is less than Rs 20 million to 20 percent of the total transaction. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The private sector organsations including the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) as well as industrialists from across the country had been protesting against the move. They had urged the central bank not to implement the new guidelines and had been requesting amendment. However, the NRB started implementing the new provision from Tuesday disregarding the suggestions from the private sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The central bank had prepared a draft of the new guidelines about one year ago and had also asked for suggestions from the business community. NRB issued the guidelines on August 23 and directed banks and financial institutions to implement it from October 18.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the NRB would push the private sector on the brink of crisis.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The business community and industrialists argue that the new guidelines on working capital loan have added further burden to the private sector that is still struggling due to the impact of coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Handing a memorandum to Acting Governor of Nepal Rastra Bank Dr Neelam Dhungana Timsina on Monday, the FNCCI urged the central bank not to implement the guidelines immediately because the private sector was facing crisis at present. They urged the central bank to implement the guidelines when the environment becomes conducive to run businesses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">‘The economy is under external and internal pressure. Therefore, it would not be appropriate to implement the guidelines on working capital loan at the moment,” reads the memo submitted by FNCCI.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">“The guidelines can be implemented in a phase-wise manner once the economy returns back on track.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Despite the protest from the private sector, NRB has made it clear that it will not budge from its decision. NRB Governor Maha Prasad Adhikari has been maintaining that the guidelines have been implemented after a long preparation and includes suggestions from the business community. Therefore, the private sector has no right to object against the guidelines now, says Adhikari.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Governor Adhikari had earlier defended the central bank’s move to amend the Working Capital Loan Guidelines arguing that the new guidelines were introduced to control “over financing.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Adhikari argued that the new provisions were introduced because the businessmen were using loans provided to meet their day-to-day expenses were spent on other purposes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">“There has been over financing in the name of banking capital,” Adhikari said during a programme in September, adding, “We were forced to control the loan after businessmen started using it for other purposes than it was intended for.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15918', 'image' => '20221019030323_Working-Capital-Loan.jpg', 'article_date' => '2022-10-19 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16176', 'article_category_id' => '1', 'title' => 'Five Finance Ministers in the Fray for Direct Election ', 'sub_title' => '', 'summary' => 'October 19: Five finance ministers who steered the country's economy are vying for direct election on November 20. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 19: Five finance ministers who steered the country's economy are vying for direct election on November 20. Voters have shown special interest to the election contested by the incumbent and former finance ministers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former finance ministers Surendra Pandey, Bishnu Paudel, Barshaman Pun and Gyanendra Bahadur Karki and incumbent Finance Minister Janardan Sharma are competing in the upcoming election to the House of Representatives in first past the post (FPTP) category. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma, former Finance Minister Pun and Karki are general candidates of the ruling coalition. UML's Nandram Devkota is competing against Finance Minister Sharma. Since Sharma is a candidate from the CPN (Maoist Center)’s stronghold of Rukum West, he is expected to win again.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After the rebel candidates of Nepali Congress withdrew their candidacy in Rukum West, Finance Minister Sharma seems to have an easier path in the election. NC candidate Man Bahadur Nepali and Lal Bahadur Mahat of the same party, running as an independent candidate, have withdrawn their candidacy. Only Tarak KC and UML candidate Devkota are pose some challenge to Finance Minister Sharma.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, former finance ministers Pandey and Paudel competing in the election from UML. They are supported by Janata Samajwadi Party and RPP. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Pandey, an influential leader of the UML, will most likely face a stiff competition in Chitwan-1 against NC candidate Bishwanath Paudel, who has resigned as the vice president of the National Planning Commission to contest the election. Both candidates are considered to be experts in the field of economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Pandey is also the incumbent Member of Parliament from the same constituency. Dr Paudel is the vice president of the National Planning Commission and is a young economist. UML leader Pandey was a member of the National Assembly from 2054 to 60. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2066, he was the finance minister during the government led by Madhav Kumar Nepal. Pandey was a member of the Constituent Assembly in 2070 and won the parliamentary elections in 2074 from Chitwan-1. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">There were speculations that Dr Swarnim Wagle would contest the election from the same constituency. However, the NC did not give him a ticket after Paudel expressed his desire to contest in the election. Paudel has worked as an economic advisor to the International Labor Organization (ILO). Paudel is an Associate Professor at Kathmandu University School of Management. When Wagle was the vice-chairman of the National Planning Commission, Paudel worked there as an economic advisor.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deputy General Secretary of the Maoist Center and former Finance Minister Barshaman Pun is competing in the election from Rolpa. The common candidate of the ruling coalition will face competition from Purna Budhamgar of CPN-UML. Pun had earlier won the 2074 election from Rolpa.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, former finance minister and incumbent Minister for Communication and Information Technology Gyanendra Bahadur Karki is one of the candidates for the election. He has registered his candidacy representing the ruling coalition in Constituency 4 of Sunsari. His main competitor will be Jagdish Prasad Kusiait of UML. Karki had won the previous election from the same constituency.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">UML vice-president and former finance minister Bishnu Paudel and Raju Gurung of CPN Unified Socialist are competing against each other for seat in the House of Representatives. Even though the Election Commission had rejected Gurung's candidacy, the court issued a short-term order directing the EC not to reject Gurung's candidacy. Since this region is a stronghold of UML, Paudel is unlikely to face stiff opposition.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former Finance Minister Dr Prakash Chandra Lohani is in the proportional representation quota of Rastriya Prajatantra Party. Former Finance Minister Dr Baburam Bhattarai, Dr Ram Sharan Mahat and Dr Yuvraj Khatiwada have not registered their candidacy for the election. Former PM Bhattarai is supporting Pushpa Kamal Dahal, the former Prime Minister and Chairman of the CPN-Maoist Center from his constituency and has announced that he will not contest the federal elections.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15917', 'image' => '20221019012029_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-19 13:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16175', 'article_category_id' => '1', 'title' => 'Prices of Potatoes Rise by 257 Percent in 6 Months', 'sub_title' => '', 'summary' => 'October 19: The prices of potatoes have increased by as much as 257 percent during the last six months due to the decline in domestic production.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 19: The prices of potatoes have increased by as much as 257 percent during the last six months due to the decline in domestic production. According to the daily price list of Kalimati Fruits and Vegetables Market Development Committee, the price of red potato has increased the most (257 percent) during this period.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The average wholesale price of red potatoes, which was Rs 28 per kg in the third week of April, has now reached Rs 100. Consumers have to pay even more in the retail market. Consumers complain that they have to pay up to Rs 150 per kg for local red potatoes in retail shops. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In these six months, the price of red potatoes imported from India has also increased by 92 percent. In the third week of April, the price of red potatoes from India increased to Rs 45 from Rs 25 per kg. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the average price of potatoes produced in Mude has also increased by 136 percent from Rs 33 to Rs 75 per kg. Similarly, the price of white potatoes has increased by 239 percent from Rs 23 to Rs 75 per kg.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The consumers are bearing the brunt of the price hike in the wholesale market as the impact trickles down to the retail market as well. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sarita Nepali from Kirtipur shared that they go to retail stores at their doorstep instead of the wholesale market. “Even the least expensive potatoes cost Rs 80 to Rs 100 per kg,” said Nepali. Potatoes are the most used vegetable in the kitchen because they are compatible with all kinds of vegetables. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepali said that now that the price has skyrocketed, she has reduced the use of potatoes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Gita Prasad Acharya, president of Kalimati Fruits and Vegetables Market Development Committee, the prices of potatoes skyrocketed due to the decline in domestic production. He informed that the concerned authorities have started importing potatoes from the Indian market to meet the demand.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Acharya added that the price will come down only after locally-grown potatoes start coming to the market likely in the last week of November. Currently, about 50 percent of the potatoes entering the Kalimati wholesale market are imported from India and Bhutan.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sandip Subedi, a horticultural development officer at the National Center for Potato, Vegetable and Spice Crops Development, says that even though the production has doubled compared to 15 years ago, the country is yet to become self-sufficient in potatoes due to the increasing demand and consumption of potatoes in Nepal. He says that the main reason for the relatively low production is the lack of quality seeds and fertilizers. In general, potatoes produced in Nepal meet 90 percent of the total market demand. According to government data, the remaining 10 percent is imported from abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the center, 3,325,000 thousand metric tons of potatoes were produced in 198,000 hectares of land in the fiscal year 2077/78. The data of the Department of Customs shows that 342,000 tons of potatoes were imported from abroad that year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15916', 'image' => '20221019113349_potatoes-411975_1280-1024x682.jpg', 'article_date' => '2022-10-19 11:33:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16174', 'article_category_id' => '1', 'title' => 'Production Capacity of Flour Mills Limited to 40 Percent', 'sub_title' => '', 'summary' => 'October 18: India has imposed a ban on wheat exports to avert a possible food crisis in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: India has imposed a ban on wheat exports to avert a possible food crisis in the country. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thirty two flour mills operating in Nepal are struggling to import wheat due to the ban imposed by India. As a result, the mills informed that their production has shrunk by almost 60 percent. The flour mills, which are operating at 40 percent of their total capacity, are now compelled to buy wheat costing Rs 34 for Rs 50 per kilogram to produce refined flour and semolina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The domestic production of Nepal is able to meet the demand only for four months while the demand for flour during the remaining eight months is met through imports from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The price of flour and semolina has increased by Rs 15 per kg in four months after India imposed the ban. Due to the lack of wheat from India, the demand for local production has increased by 60 percent, and the prices have also increased.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Three months back, the price of wheat was Rs 34 per kg, but now it has reached Rs 50 per kg. After the increase in the price of wheat, the price of all-purpose flour, which was previously priced at Rs 49 per kg, increased to Rs 68 per kg and the price of fine flour has increased to Rs 68 from Rs 47 per kg. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Bikash Begwani, secretary of Nepal Flour Mills Association and Vice President of Morang Merchants’ Association informed that the price of semolina has climbed to Rs 70 from Rs 55 per kg.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A total of 32 flour mills operating in Nepal are in crisis due to unavailability of wheat from India. After the increase in the prices of flour and semolina, industries manufacturing noodles and biscuits have been affected as well. Some industries are reducing the weight of noodles and biscuits and selling them at the same price instead of increasing the price. At present, consumers have to pay an additional Rs 75 to buy 5 kg of flour.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tihar is the time when flour and semolina are sold the most since these are used to make bread and sweet dishes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although India has assured that it will supply as much quantity of wheat as requested by Nepal, the domestic industries of Nepal are facing crisis as the government failed to specify the quantity of wheat required for the country. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The government is not bringing wheat and the prices are increasing here. But large quantity of flour is coming from India without interruption due to the open border. As a result, the flour mills of Nepal are on the verge of closure,” Begwani said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After India stopped the export of wheat, the industrialists were demanding the government to bring wheat through “G2G” process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, the Ministry of Industry, Commerce and Supplies and the Ministry of Foreign Affairs are confused saying that although they had sent letter to India before Dashain for the required quantity of wheat, they are yet to get any response due to lack of effective initiatives from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Altogether 32 flour mills of Nepal need 1 million metric tons of wheat every year. Out of that amount, 350,000 tons are produced in Nepal while the remaining 650,000 tons should be imported from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last year, Nepal imported 335,932 metric tons of wheat worth more than Rs 6.9 billion from India. Ram Chandra Dhungana, information officer of Biratnagar Customs Office, informed that 6,100 tons of wheat worth more than Rs 2.19 billion was imported from Biratnagar Customs last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15915', 'image' => '20221018052601_wheat-flour-500x500.jpg', 'article_date' => '2022-10-18 17:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16173', 'article_category_id' => '1', 'title' => 'NEPSE Recommends Broker License for 45 Companies', 'sub_title' => '', 'summary' => 'October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17. There is a provision that any company seeking broker’s license from the Securities Board of Nepal (SEBON) must first get recommendation from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of October 16, a total of 20 companies have submitted applications with the board seeking brokers’ license. The board has not updated any details after that. The last date for submitting application for the license was October 17.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Murahari Parajuli, information officer of NEPSE, most of the 45 companies that received recommendations are eligible for first-level broker services based on the capital structure set by the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Parajuli, three companies have received recommendations for the second-level broker license with full scope and only one company for the third-level stock dealer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Parajuli informed that Nabil Securities, a subsidiary company of Nabil Bank, has received recommendation from NEPSE for the third-level stock dealer license.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Parajuli said Mega Stock Market, Century Securities and Himalayan Securities have received recommendations for the second-level license with full scope.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications for to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The deadline to submit application for broker license was 30 days while the deadline for stock exchanges and commodity exchanges was of 45 days.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15914', 'image' => '20221018050531_nepse-live-shareprice.jpg', 'article_date' => '2022-10-18 17:04:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16172', 'article_category_id' => '1', 'title' => 'Jumla Facing Shortage of Cooking Gas, Petroleum Products ', 'sub_title' => '', 'summary' => 'October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumers have been facing difficulties in lack of sufficient amount of cooking gas and petroleum products in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Chief District Officer, Pramila Rijal, said shortage of petroleum products has been seen in the market following disruption of Karnali Highway. A team headed by Deputy Mayor of Chandannath Municipality, Ram Devi Khadka, and Assistant Chief District Officer, Rijal, had carried out monitoring of groceries and dealers of petroleum products after receiving complaints of black marketing in the name of road disruption. In course of market monitoring, shortage of petroleum products was found at the district headquarters. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Rijal shared that the stock of food stuffs and edible oil in the market is enough for around two months. The team had carried out monitoring of 10 shops. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Road Division Office, Jumla, efforts are underway to resume the road as soon as possible. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15913', 'image' => '20221018042318_jumla.jpg', 'article_date' => '2022-10-18 16:22:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16171', 'article_category_id' => '1', 'title' => 'Clear Sky Observed with the Retreat of Monsoon, Temperature Expected to Decline ', 'sub_title' => '', 'summary' => 'October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Weather Forecasting Division, Hira Bhattarai, informed that temperature has been decreasing for some days in the country. The westerly wind is getting active. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Generally as the monsoon retreats, westerly wind becomes active. So, we are likely to have light rainfall in the hill areas of Sudurpaschim, Karnali and Lumbini provinces today and tomorrow," added Bhattarai. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The westerly wind also brings cold. The country would see rising cold in the days ahead. This year, the monsoon exited from the provinces of Sudurpaschim, Karnali, Lumbini, Gandaki and Madhes last Saturday while it exited from Province-1 on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the retreat of monsoon, the weather has become clear across the country for some days. The minimum temperature of Kathmandu was recorded at 12 degrees Celsius today while maximum temperature was 26 degrees. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15912', 'image' => '20221018041000_PL_Banepa.jpg', 'article_date' => '2022-10-18 14:01:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16170', 'article_category_id' => '1', 'title' => 'Stakeholders in Favour of Promoting Innovation in Local Governance', 'sub_title' => '', 'summary' => 'October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The programme was organized by the research institution with the theme “Promoting Innovation in Local Governance for Inclusive Economic Development of Nepal”. The objective of the symposium was to share innovative practices of local governments, to discuss ways to bolster the local governance system and to strengthen the networking among stakeholders working in public policy and governance, the organisers said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the first day of the symposium, 11 municipalities from six provinces shared their public innovations. Not only this, they also put forth the key lessons learned from those innovations as well as the dimension of opportunities opened up for them to effectively scale up. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the second day, national stakeholders deliberated on ways to institutionalize the learning from the discussions of the first day and scale up policy impact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second day of the symposium also featured a seminar on “Building Gender Sensitivity in Government Institutions” with various dialogue sessions. During the sessions, international experts and scholars like Prof Soledad Prillaman, assistant professor of political science at Stanford University and Prof Ben Berger, associate professor of political science and executive director of Lang Center for Civic and Social Responsibility at Swarthmore College joined virtually as keynote speakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The symposium concluded that measures of bringing change to elevate the economic status of Nepal can be achieved through the policy level. Furthermore, the chairperson of Governance Lab, Dr Pukar Malla unveiled the Declaration for Collective Action at the end of the symposium. The declaration highlights “Inclusion, Innovation, Local Governance and Economic Development” as the four core commitment areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the pogramme, Kalyan Shrestha, former chief justice of the Supreme Court of Nepal said, “Development without inclusiveness will not bring peace but crisis. Our development plans and policies have not been able to incorporate inclusiveness so far. Therefore, it is very important that we create a common vision about inclusive development in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Swarnim Wagle, former vice- chairperson of the National Planning Commission, complained that federalism failed due to the heavily divided public and political opinion which hindered the local government as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, speaking at the programme, Krishna Gyawali, former secretary of the Government of Nepal highlighted the importance of good governance for the success of federalism.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15911', 'image' => '20221018123159_NGS 2022 Group Pic.JPEG', 'article_date' => '2022-10-18 12:31:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16169', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 8.18 Billion after Dashain', 'sub_title' => '', 'summary' => 'October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. The Nepal Bankers Association informed that the money withdrawn from the banks before Dashain have started returning back to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, between October 1 and 7, deposits of commercial banks had decreased by Rs 7.99 billion and stood at Rs 4510 billion. However, bank deposits increased again to Rs 4519 billion between October 8 to 14. The deposits of commercial banks increased by Rs 8.18 billion in the review week. During the same period, credit flow of banks increased by just Rs 62 million. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, the loan disbursement of banks increased from Rs 41926 billion to Rs 4193.2 billion as of October 14. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) had exchanged new notes for old ones worth Rs 16 billion for Dashain. Apart from this, new notes worth Rs 40 billion were sent to the market, according to a statement issued by NRB. The central bank says that the cash that went to the market will gradually return to the banking system through deposits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On October 14, the average credit-to-deposit (CD) ratio of banks stood at 86.96 percent. According to the instructions of the NRB, banks should maintain the CD ratio within 90 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15910', 'image' => '20221018112851_Banks - Copy.jpg', 'article_date' => '2022-10-18 11:28:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16168', 'article_category_id' => '1', 'title' => 'Govt Declares Public Holiday Today to Mourn the Demise of Centenarian Joshi ', 'sub_title' => '', 'summary' => 'October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the Ministry of Home Affairs stated that the government has decided to give a public holiday across the country on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement issued by the ministry’s spokesperson Phanindra Mani Pokharel reads that the government has also decided to raise the national flag at half-mast on Tuesday at all government offices, public organisations across the nation and at diplomatic missions abroad to mourn the passing away of cultural expert Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi passed away on Sunday at the age of 103. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15909', 'image' => '20221018102653_D6aANBrUYAEKz_7.jpg', 'article_date' => '2022-10-18 10:26:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16167', 'article_category_id' => '1', 'title' => 'Dengue Spreads all Over the Country ', 'sub_title' => 'Mountainous Districts of Karnali Province see Dengue Cases due to Climate Change ', 'summary' => 'October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A total of 40,029 people have been infected since the last outbreak in July, according to the ministry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said it has expedited efforts to prevent and control dengue infection as well as to treat the infected ones. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Impact of Climate Change</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Province Health Service Directorate, Surkhet, a total of 40 dengue patients have been detected in Humla, Jumla, Mugu and Dolpa this year by the time this report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue Control Source Person and vector control officer of the Directorate, Shyam Lal Acharya, said mountainous region is becoming favourable for lifecycle of mosquito. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Mosquito larva were found in Khatyang of Mugu two years ago and dengue patients were also detected. Cases of dengue has started increasing here after mountainous region is becoming favourable for life cycle of mosquito," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A dengue patient was found in Humla, nine in Dolpa, eight in Mugu and 22 in Jumla this time, according to the directorate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior physician of Province Hospital, Dr KN Poudel, pointed out that climate change is the main reason behind the dengue cases in mountainous region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October. There are now 441 dengue patients in Karnali Province. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15908', 'image' => '20221017062819_Aedes-species-mosquito-transmitter-of-dengue.jpg', 'article_date' => '2022-10-17 18:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16166', 'article_category_id' => '1', 'title' => 'Election Commission Seeks Clarification from SEBON Regarding Application for New Licenses', 'sub_title' => '', 'summary' => 'October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission has asked for clarification from SEBON within three days regarding why it went against the Election Code of Conduct 2079. The commission had instructed all government bodies not to issue new license during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission clarified that the Election Code of Conduct has a provision which clearly mentions all concerned bodies not to conduct any new programme or to announce, approve or operate new policies, plans and programmes other than those approved in the annual budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board is ready to submit an explanation to the Election Commission regarding its move. Tej Prasad Devkota, information officer of the board, informed that the board will submit an explanation to the Election Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board argued that seeking application for the license is not against the code of conduct as it was done before the election code of conduct came into force.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Devkota, 20 companies have applied for broker license as of 5 pm, Sunday. Devkota also informed us that no application has been received for stock exchange and commodity exchange companies. There is a provision to take the recommendation of the Nepal Stock Exchange Limited (NEPSE) before applying for a new broker license with the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Information officer of NEPSE, Murahari Parajuli informed that although only 20 companies have applied for broker licenses with the board till Sunday, 32 companies have received recommendations from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had announced application for three types of broker licenses on September 18. On the other hand, the EC had enforced the Election Code of Conduct on September 28.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board has sought applications for a new stock exchange company, two commodity exchange markets and an undisclosed number of securities broker licenses. Based on the notification issued by the board, the last day to apply for the broker license is October 17. SEBON has set an application deadline of 45 days ending on November 1, for the new stock exchange company and commodity exchange markets. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SEBON has set a paid-up capital of Rs 3 billion for new stock exchanges and a minimum of Rs 200 million to a maximum of Rs 1.5 billion for new brokers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new broker licenses to be distributed by the board will be of three types. Based on the capital structure, the board will distribute three types of broker licenses to provide different services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the capital structure, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the provisions of the Commodity Exchange Market Act, of 2074, the minimum paid-up capital for the operation of the commodity market shall be as determined by the board and must not be less than Rs 50 million,.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15907', 'image' => '20221017042922_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-17 16:28:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16165', 'article_category_id' => '1', 'title' => 'Inflow of Tourists in Rising in Langtang National Park', 'sub_title' => '', 'summary' => 'October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an average, 50 tourists are turning up daily for trekking in the mountainous route of Rasuwa. The arrival of tourists in the district had taken a nosedive with the onset of Covid-19 pandemic and the situation remained adverse for a long time.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, the hotel and lodge business which was hit hard by the pandemic is gradually bouncing back. With the rise in the influx of tourists, the tourism entrepreneurs have become optimistic about the revival of tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest update from Langtang National Park, inflow of tourists, especially women, has increased remarkably at Gosainkunda and Langtang areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 13,084 domestic and foreign tourists who visited the district from mid-July to mid-October this year, 2,846 were women, the records revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the female tourists, 2,297 were domestic and 549 foreigners, informed Forest Technician of the Park, Nitendra Singh. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trekkers reach Gosainkunda through Sundarijal-Helambu trekking route and Dhunche-Chandanbari trekking route and then trek to Kyangjen of Langtang from Cholangpati through Thulosyafru. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As shared by the park officials, 11,758 Nepalis and 1,326 foreigners had entered the park premises from mid-July to mid-October this year to enjoy the scenic beauty of the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the national park sources, a total of 1,259 tourists from the United States, Germany, Japan, Korea and Australia and others had entered the national park while the number of tourists from SAARC region was only 67. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15906', 'image' => '20221017022549_20220424110255_Tourist Arrival (1).jpeg', 'article_date' => '2022-10-17 14:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16164', 'article_category_id' => '1', 'title' => 'Government to Provide 8 Percent Subsidy for Exports above Rs 500 Million', 'sub_title' => '', 'summary' => 'October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods. The Ministry of Industry, Commerce and Supplies has implemented the Export Subsidy Procedure 2079 in order to provide subsidy up to 8 percent on exports as per the provision in the budget of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new procedure has provision to provide 8 percent cash subsidy to a company which exports goods worth more than Rs 500 million in a year. However, the cash subsidy will be provided on the basis of the amount that exceeds the threshold of Rs 500 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2018, the ministry made a list of 26 items that are entitled to receive export subsidies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After amending the procedure, clinker, cement, steel, coal, resins and turpentine, plywood, tiger grass, fruits and dairy products (milk, cheese, cottage cheese, hardened cheese and fat) have been included in the list.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry will provide 5 percent subsidy for the export of handicraft products, processed and unprocessed herbs, turmeric, fresh vegetables, flowers, cardamom, ginger. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Likewise, the government will give 4 percent cash subsidy for the export of clinker, cement, steel, resin and turpentine, plywood, tiger grass, fruit and dairy products (milk, cheese, cottage cheese, hard cheese and fat), and pashmina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy for this group was increased to 4 percent from 3 percent</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the procedure, the subsidy received by the exporter should be spent in the field of international market promotion, technology and capacity development, and e-commerce. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy will be increased by 1 percentage point if the goods exported from Nepal are exported with a collective trademark. If the export shows 20 percent increase as compared to previous year, another 1 percentage point will be added to the subsidy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15905', 'image' => '20221017021023_export.jpg', 'article_date' => '2022-10-17 14:09:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">October 19: Kathmandu University School of Management (KUSOM) has been selected for the “WTO Chairs Program (WCP)”. Chief Secretary Shanker Das Bairagi officially launched the programme in Nepal on Monday, October 17. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The WTO Chairs Programme aims to support and promote trade-related academic activities by universities and research institutions in developing and least-developed countries. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The WTO Chairs Programme has been providing financial and technical assistance to educational institutions in developing countries to facilitate the participation of the members of the World Trade Organization in the multilateral trading system. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Through this programme, the concerned countries aim to increase the knowledge of international trade, law and economics. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Prof. Dr. Achyut Wagle, co-chairman of WCP Nepal and registrar of Kathmandu University said that it is a matter of pride to bring such a programme to Nepal. He informed that the WCP will be operated for the next four years (2022-2026) through KUSOM focusing mainly on three tasks; curriculum development and teaching, research and capacity building.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Curriculum Development Courses related to international trade will be developed at various levels. Towards research, there will be study/research related to business. In addition, KUSOM informed that awareness programs will be conducted in international conferences under the training program for capacity building.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Prime Minister Sher Bahadur Deuba as well sent his message to KUSOM expressing hope that the programme in Nepal would help in formulating the trade and investment policy for Nepal. He said that the programme will help improve the major obstacles that Nepal faces in international trade especially in the field of supply. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Xiangchen Zhang, the Deputy Director General of the World Trade Organization said that such a network will help in promoting exchange of ideas and knowledge. Chief Secretary Bairagi stated that WCP will help to create new ideas in the field of business through education and research. He also provided assurance regarding the support from the government for the success of this programme.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15919', 'image' => '20221019042156_kusommmm.jpg', 'article_date' => '2022-10-19 16:20:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16177', 'article_category_id' => '1', 'title' => 'NRB Implements Working Capital Loan Guidelines Despite Protests', 'sub_title' => '', 'summary' => 'October 19: Nepal Rastra Bank has implemented the Working Capital Loan Guidelines despite protest from the business community. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">October 19: Nepal Rastra Bank has implemented the Working Capital Loan Guidelines despite protest from the business community. The central bank had issued the Working Capital Loan Guidelines 2079 about two months ago in order to fix a limit on working capital loan. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan of a company whose annual transaction is less than Rs 20 million to 20 percent of the total transaction. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The private sector organsations including the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) as well as industrialists from across the country had been protesting against the move. They had urged the central bank not to implement the new guidelines and had been requesting amendment. However, the NRB started implementing the new provision from Tuesday disregarding the suggestions from the private sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The central bank had prepared a draft of the new guidelines about one year ago and had also asked for suggestions from the business community. NRB issued the guidelines on August 23 and directed banks and financial institutions to implement it from October 18.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the NRB would push the private sector on the brink of crisis.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The business community and industrialists argue that the new guidelines on working capital loan have added further burden to the private sector that is still struggling due to the impact of coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Handing a memorandum to Acting Governor of Nepal Rastra Bank Dr Neelam Dhungana Timsina on Monday, the FNCCI urged the central bank not to implement the guidelines immediately because the private sector was facing crisis at present. They urged the central bank to implement the guidelines when the environment becomes conducive to run businesses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">‘The economy is under external and internal pressure. Therefore, it would not be appropriate to implement the guidelines on working capital loan at the moment,” reads the memo submitted by FNCCI.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">“The guidelines can be implemented in a phase-wise manner once the economy returns back on track.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Despite the protest from the private sector, NRB has made it clear that it will not budge from its decision. NRB Governor Maha Prasad Adhikari has been maintaining that the guidelines have been implemented after a long preparation and includes suggestions from the business community. Therefore, the private sector has no right to object against the guidelines now, says Adhikari.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Governor Adhikari had earlier defended the central bank’s move to amend the Working Capital Loan Guidelines arguing that the new guidelines were introduced to control “over financing.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Adhikari argued that the new provisions were introduced because the businessmen were using loans provided to meet their day-to-day expenses were spent on other purposes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">“There has been over financing in the name of banking capital,” Adhikari said during a programme in September, adding, “We were forced to control the loan after businessmen started using it for other purposes than it was intended for.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15918', 'image' => '20221019030323_Working-Capital-Loan.jpg', 'article_date' => '2022-10-19 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16176', 'article_category_id' => '1', 'title' => 'Five Finance Ministers in the Fray for Direct Election ', 'sub_title' => '', 'summary' => 'October 19: Five finance ministers who steered the country's economy are vying for direct election on November 20. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 19: Five finance ministers who steered the country's economy are vying for direct election on November 20. Voters have shown special interest to the election contested by the incumbent and former finance ministers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former finance ministers Surendra Pandey, Bishnu Paudel, Barshaman Pun and Gyanendra Bahadur Karki and incumbent Finance Minister Janardan Sharma are competing in the upcoming election to the House of Representatives in first past the post (FPTP) category. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma, former Finance Minister Pun and Karki are general candidates of the ruling coalition. UML's Nandram Devkota is competing against Finance Minister Sharma. Since Sharma is a candidate from the CPN (Maoist Center)’s stronghold of Rukum West, he is expected to win again.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After the rebel candidates of Nepali Congress withdrew their candidacy in Rukum West, Finance Minister Sharma seems to have an easier path in the election. NC candidate Man Bahadur Nepali and Lal Bahadur Mahat of the same party, running as an independent candidate, have withdrawn their candidacy. Only Tarak KC and UML candidate Devkota are pose some challenge to Finance Minister Sharma.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, former finance ministers Pandey and Paudel competing in the election from UML. They are supported by Janata Samajwadi Party and RPP. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Pandey, an influential leader of the UML, will most likely face a stiff competition in Chitwan-1 against NC candidate Bishwanath Paudel, who has resigned as the vice president of the National Planning Commission to contest the election. Both candidates are considered to be experts in the field of economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Pandey is also the incumbent Member of Parliament from the same constituency. Dr Paudel is the vice president of the National Planning Commission and is a young economist. UML leader Pandey was a member of the National Assembly from 2054 to 60. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2066, he was the finance minister during the government led by Madhav Kumar Nepal. Pandey was a member of the Constituent Assembly in 2070 and won the parliamentary elections in 2074 from Chitwan-1. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">There were speculations that Dr Swarnim Wagle would contest the election from the same constituency. However, the NC did not give him a ticket after Paudel expressed his desire to contest in the election. Paudel has worked as an economic advisor to the International Labor Organization (ILO). Paudel is an Associate Professor at Kathmandu University School of Management. When Wagle was the vice-chairman of the National Planning Commission, Paudel worked there as an economic advisor.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deputy General Secretary of the Maoist Center and former Finance Minister Barshaman Pun is competing in the election from Rolpa. The common candidate of the ruling coalition will face competition from Purna Budhamgar of CPN-UML. Pun had earlier won the 2074 election from Rolpa.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, former finance minister and incumbent Minister for Communication and Information Technology Gyanendra Bahadur Karki is one of the candidates for the election. He has registered his candidacy representing the ruling coalition in Constituency 4 of Sunsari. His main competitor will be Jagdish Prasad Kusiait of UML. Karki had won the previous election from the same constituency.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">UML vice-president and former finance minister Bishnu Paudel and Raju Gurung of CPN Unified Socialist are competing against each other for seat in the House of Representatives. Even though the Election Commission had rejected Gurung's candidacy, the court issued a short-term order directing the EC not to reject Gurung's candidacy. Since this region is a stronghold of UML, Paudel is unlikely to face stiff opposition.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former Finance Minister Dr Prakash Chandra Lohani is in the proportional representation quota of Rastriya Prajatantra Party. Former Finance Minister Dr Baburam Bhattarai, Dr Ram Sharan Mahat and Dr Yuvraj Khatiwada have not registered their candidacy for the election. Former PM Bhattarai is supporting Pushpa Kamal Dahal, the former Prime Minister and Chairman of the CPN-Maoist Center from his constituency and has announced that he will not contest the federal elections.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15917', 'image' => '20221019012029_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-19 13:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16175', 'article_category_id' => '1', 'title' => 'Prices of Potatoes Rise by 257 Percent in 6 Months', 'sub_title' => '', 'summary' => 'October 19: The prices of potatoes have increased by as much as 257 percent during the last six months due to the decline in domestic production.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 19: The prices of potatoes have increased by as much as 257 percent during the last six months due to the decline in domestic production. According to the daily price list of Kalimati Fruits and Vegetables Market Development Committee, the price of red potato has increased the most (257 percent) during this period.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The average wholesale price of red potatoes, which was Rs 28 per kg in the third week of April, has now reached Rs 100. Consumers have to pay even more in the retail market. Consumers complain that they have to pay up to Rs 150 per kg for local red potatoes in retail shops. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In these six months, the price of red potatoes imported from India has also increased by 92 percent. In the third week of April, the price of red potatoes from India increased to Rs 45 from Rs 25 per kg. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the average price of potatoes produced in Mude has also increased by 136 percent from Rs 33 to Rs 75 per kg. Similarly, the price of white potatoes has increased by 239 percent from Rs 23 to Rs 75 per kg.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The consumers are bearing the brunt of the price hike in the wholesale market as the impact trickles down to the retail market as well. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sarita Nepali from Kirtipur shared that they go to retail stores at their doorstep instead of the wholesale market. “Even the least expensive potatoes cost Rs 80 to Rs 100 per kg,” said Nepali. Potatoes are the most used vegetable in the kitchen because they are compatible with all kinds of vegetables. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepali said that now that the price has skyrocketed, she has reduced the use of potatoes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Gita Prasad Acharya, president of Kalimati Fruits and Vegetables Market Development Committee, the prices of potatoes skyrocketed due to the decline in domestic production. He informed that the concerned authorities have started importing potatoes from the Indian market to meet the demand.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Acharya added that the price will come down only after locally-grown potatoes start coming to the market likely in the last week of November. Currently, about 50 percent of the potatoes entering the Kalimati wholesale market are imported from India and Bhutan.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sandip Subedi, a horticultural development officer at the National Center for Potato, Vegetable and Spice Crops Development, says that even though the production has doubled compared to 15 years ago, the country is yet to become self-sufficient in potatoes due to the increasing demand and consumption of potatoes in Nepal. He says that the main reason for the relatively low production is the lack of quality seeds and fertilizers. In general, potatoes produced in Nepal meet 90 percent of the total market demand. According to government data, the remaining 10 percent is imported from abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the center, 3,325,000 thousand metric tons of potatoes were produced in 198,000 hectares of land in the fiscal year 2077/78. The data of the Department of Customs shows that 342,000 tons of potatoes were imported from abroad that year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15916', 'image' => '20221019113349_potatoes-411975_1280-1024x682.jpg', 'article_date' => '2022-10-19 11:33:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16174', 'article_category_id' => '1', 'title' => 'Production Capacity of Flour Mills Limited to 40 Percent', 'sub_title' => '', 'summary' => 'October 18: India has imposed a ban on wheat exports to avert a possible food crisis in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: India has imposed a ban on wheat exports to avert a possible food crisis in the country. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thirty two flour mills operating in Nepal are struggling to import wheat due to the ban imposed by India. As a result, the mills informed that their production has shrunk by almost 60 percent. The flour mills, which are operating at 40 percent of their total capacity, are now compelled to buy wheat costing Rs 34 for Rs 50 per kilogram to produce refined flour and semolina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The domestic production of Nepal is able to meet the demand only for four months while the demand for flour during the remaining eight months is met through imports from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The price of flour and semolina has increased by Rs 15 per kg in four months after India imposed the ban. Due to the lack of wheat from India, the demand for local production has increased by 60 percent, and the prices have also increased.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Three months back, the price of wheat was Rs 34 per kg, but now it has reached Rs 50 per kg. After the increase in the price of wheat, the price of all-purpose flour, which was previously priced at Rs 49 per kg, increased to Rs 68 per kg and the price of fine flour has increased to Rs 68 from Rs 47 per kg. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Bikash Begwani, secretary of Nepal Flour Mills Association and Vice President of Morang Merchants’ Association informed that the price of semolina has climbed to Rs 70 from Rs 55 per kg.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A total of 32 flour mills operating in Nepal are in crisis due to unavailability of wheat from India. After the increase in the prices of flour and semolina, industries manufacturing noodles and biscuits have been affected as well. Some industries are reducing the weight of noodles and biscuits and selling them at the same price instead of increasing the price. At present, consumers have to pay an additional Rs 75 to buy 5 kg of flour.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tihar is the time when flour and semolina are sold the most since these are used to make bread and sweet dishes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although India has assured that it will supply as much quantity of wheat as requested by Nepal, the domestic industries of Nepal are facing crisis as the government failed to specify the quantity of wheat required for the country. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The government is not bringing wheat and the prices are increasing here. But large quantity of flour is coming from India without interruption due to the open border. As a result, the flour mills of Nepal are on the verge of closure,” Begwani said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After India stopped the export of wheat, the industrialists were demanding the government to bring wheat through “G2G” process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, the Ministry of Industry, Commerce and Supplies and the Ministry of Foreign Affairs are confused saying that although they had sent letter to India before Dashain for the required quantity of wheat, they are yet to get any response due to lack of effective initiatives from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Altogether 32 flour mills of Nepal need 1 million metric tons of wheat every year. Out of that amount, 350,000 tons are produced in Nepal while the remaining 650,000 tons should be imported from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last year, Nepal imported 335,932 metric tons of wheat worth more than Rs 6.9 billion from India. Ram Chandra Dhungana, information officer of Biratnagar Customs Office, informed that 6,100 tons of wheat worth more than Rs 2.19 billion was imported from Biratnagar Customs last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15915', 'image' => '20221018052601_wheat-flour-500x500.jpg', 'article_date' => '2022-10-18 17:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16173', 'article_category_id' => '1', 'title' => 'NEPSE Recommends Broker License for 45 Companies', 'sub_title' => '', 'summary' => 'October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17. There is a provision that any company seeking broker’s license from the Securities Board of Nepal (SEBON) must first get recommendation from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of October 16, a total of 20 companies have submitted applications with the board seeking brokers’ license. The board has not updated any details after that. The last date for submitting application for the license was October 17.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Murahari Parajuli, information officer of NEPSE, most of the 45 companies that received recommendations are eligible for first-level broker services based on the capital structure set by the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Parajuli, three companies have received recommendations for the second-level broker license with full scope and only one company for the third-level stock dealer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Parajuli informed that Nabil Securities, a subsidiary company of Nabil Bank, has received recommendation from NEPSE for the third-level stock dealer license.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Parajuli said Mega Stock Market, Century Securities and Himalayan Securities have received recommendations for the second-level license with full scope.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications for to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The deadline to submit application for broker license was 30 days while the deadline for stock exchanges and commodity exchanges was of 45 days.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15914', 'image' => '20221018050531_nepse-live-shareprice.jpg', 'article_date' => '2022-10-18 17:04:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16172', 'article_category_id' => '1', 'title' => 'Jumla Facing Shortage of Cooking Gas, Petroleum Products ', 'sub_title' => '', 'summary' => 'October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumers have been facing difficulties in lack of sufficient amount of cooking gas and petroleum products in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Chief District Officer, Pramila Rijal, said shortage of petroleum products has been seen in the market following disruption of Karnali Highway. A team headed by Deputy Mayor of Chandannath Municipality, Ram Devi Khadka, and Assistant Chief District Officer, Rijal, had carried out monitoring of groceries and dealers of petroleum products after receiving complaints of black marketing in the name of road disruption. In course of market monitoring, shortage of petroleum products was found at the district headquarters. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Rijal shared that the stock of food stuffs and edible oil in the market is enough for around two months. The team had carried out monitoring of 10 shops. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Road Division Office, Jumla, efforts are underway to resume the road as soon as possible. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15913', 'image' => '20221018042318_jumla.jpg', 'article_date' => '2022-10-18 16:22:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16171', 'article_category_id' => '1', 'title' => 'Clear Sky Observed with the Retreat of Monsoon, Temperature Expected to Decline ', 'sub_title' => '', 'summary' => 'October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Weather Forecasting Division, Hira Bhattarai, informed that temperature has been decreasing for some days in the country. The westerly wind is getting active. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Generally as the monsoon retreats, westerly wind becomes active. So, we are likely to have light rainfall in the hill areas of Sudurpaschim, Karnali and Lumbini provinces today and tomorrow," added Bhattarai. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The westerly wind also brings cold. The country would see rising cold in the days ahead. This year, the monsoon exited from the provinces of Sudurpaschim, Karnali, Lumbini, Gandaki and Madhes last Saturday while it exited from Province-1 on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the retreat of monsoon, the weather has become clear across the country for some days. The minimum temperature of Kathmandu was recorded at 12 degrees Celsius today while maximum temperature was 26 degrees. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15912', 'image' => '20221018041000_PL_Banepa.jpg', 'article_date' => '2022-10-18 14:01:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16170', 'article_category_id' => '1', 'title' => 'Stakeholders in Favour of Promoting Innovation in Local Governance', 'sub_title' => '', 'summary' => 'October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The programme was organized by the research institution with the theme “Promoting Innovation in Local Governance for Inclusive Economic Development of Nepal”. The objective of the symposium was to share innovative practices of local governments, to discuss ways to bolster the local governance system and to strengthen the networking among stakeholders working in public policy and governance, the organisers said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the first day of the symposium, 11 municipalities from six provinces shared their public innovations. Not only this, they also put forth the key lessons learned from those innovations as well as the dimension of opportunities opened up for them to effectively scale up. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the second day, national stakeholders deliberated on ways to institutionalize the learning from the discussions of the first day and scale up policy impact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second day of the symposium also featured a seminar on “Building Gender Sensitivity in Government Institutions” with various dialogue sessions. During the sessions, international experts and scholars like Prof Soledad Prillaman, assistant professor of political science at Stanford University and Prof Ben Berger, associate professor of political science and executive director of Lang Center for Civic and Social Responsibility at Swarthmore College joined virtually as keynote speakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The symposium concluded that measures of bringing change to elevate the economic status of Nepal can be achieved through the policy level. Furthermore, the chairperson of Governance Lab, Dr Pukar Malla unveiled the Declaration for Collective Action at the end of the symposium. The declaration highlights “Inclusion, Innovation, Local Governance and Economic Development” as the four core commitment areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the pogramme, Kalyan Shrestha, former chief justice of the Supreme Court of Nepal said, “Development without inclusiveness will not bring peace but crisis. Our development plans and policies have not been able to incorporate inclusiveness so far. Therefore, it is very important that we create a common vision about inclusive development in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Swarnim Wagle, former vice- chairperson of the National Planning Commission, complained that federalism failed due to the heavily divided public and political opinion which hindered the local government as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, speaking at the programme, Krishna Gyawali, former secretary of the Government of Nepal highlighted the importance of good governance for the success of federalism.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15911', 'image' => '20221018123159_NGS 2022 Group Pic.JPEG', 'article_date' => '2022-10-18 12:31:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16169', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 8.18 Billion after Dashain', 'sub_title' => '', 'summary' => 'October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. The Nepal Bankers Association informed that the money withdrawn from the banks before Dashain have started returning back to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, between October 1 and 7, deposits of commercial banks had decreased by Rs 7.99 billion and stood at Rs 4510 billion. However, bank deposits increased again to Rs 4519 billion between October 8 to 14. The deposits of commercial banks increased by Rs 8.18 billion in the review week. During the same period, credit flow of banks increased by just Rs 62 million. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, the loan disbursement of banks increased from Rs 41926 billion to Rs 4193.2 billion as of October 14. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) had exchanged new notes for old ones worth Rs 16 billion for Dashain. Apart from this, new notes worth Rs 40 billion were sent to the market, according to a statement issued by NRB. The central bank says that the cash that went to the market will gradually return to the banking system through deposits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On October 14, the average credit-to-deposit (CD) ratio of banks stood at 86.96 percent. According to the instructions of the NRB, banks should maintain the CD ratio within 90 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15910', 'image' => '20221018112851_Banks - Copy.jpg', 'article_date' => '2022-10-18 11:28:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16168', 'article_category_id' => '1', 'title' => 'Govt Declares Public Holiday Today to Mourn the Demise of Centenarian Joshi ', 'sub_title' => '', 'summary' => 'October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the Ministry of Home Affairs stated that the government has decided to give a public holiday across the country on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement issued by the ministry’s spokesperson Phanindra Mani Pokharel reads that the government has also decided to raise the national flag at half-mast on Tuesday at all government offices, public organisations across the nation and at diplomatic missions abroad to mourn the passing away of cultural expert Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi passed away on Sunday at the age of 103. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15909', 'image' => '20221018102653_D6aANBrUYAEKz_7.jpg', 'article_date' => '2022-10-18 10:26:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16167', 'article_category_id' => '1', 'title' => 'Dengue Spreads all Over the Country ', 'sub_title' => 'Mountainous Districts of Karnali Province see Dengue Cases due to Climate Change ', 'summary' => 'October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A total of 40,029 people have been infected since the last outbreak in July, according to the ministry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said it has expedited efforts to prevent and control dengue infection as well as to treat the infected ones. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Impact of Climate Change</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Province Health Service Directorate, Surkhet, a total of 40 dengue patients have been detected in Humla, Jumla, Mugu and Dolpa this year by the time this report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue Control Source Person and vector control officer of the Directorate, Shyam Lal Acharya, said mountainous region is becoming favourable for lifecycle of mosquito. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Mosquito larva were found in Khatyang of Mugu two years ago and dengue patients were also detected. Cases of dengue has started increasing here after mountainous region is becoming favourable for life cycle of mosquito," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A dengue patient was found in Humla, nine in Dolpa, eight in Mugu and 22 in Jumla this time, according to the directorate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior physician of Province Hospital, Dr KN Poudel, pointed out that climate change is the main reason behind the dengue cases in mountainous region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October. There are now 441 dengue patients in Karnali Province. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15908', 'image' => '20221017062819_Aedes-species-mosquito-transmitter-of-dengue.jpg', 'article_date' => '2022-10-17 18:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16166', 'article_category_id' => '1', 'title' => 'Election Commission Seeks Clarification from SEBON Regarding Application for New Licenses', 'sub_title' => '', 'summary' => 'October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission has asked for clarification from SEBON within three days regarding why it went against the Election Code of Conduct 2079. The commission had instructed all government bodies not to issue new license during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission clarified that the Election Code of Conduct has a provision which clearly mentions all concerned bodies not to conduct any new programme or to announce, approve or operate new policies, plans and programmes other than those approved in the annual budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board is ready to submit an explanation to the Election Commission regarding its move. Tej Prasad Devkota, information officer of the board, informed that the board will submit an explanation to the Election Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board argued that seeking application for the license is not against the code of conduct as it was done before the election code of conduct came into force.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Devkota, 20 companies have applied for broker license as of 5 pm, Sunday. Devkota also informed us that no application has been received for stock exchange and commodity exchange companies. There is a provision to take the recommendation of the Nepal Stock Exchange Limited (NEPSE) before applying for a new broker license with the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Information officer of NEPSE, Murahari Parajuli informed that although only 20 companies have applied for broker licenses with the board till Sunday, 32 companies have received recommendations from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had announced application for three types of broker licenses on September 18. On the other hand, the EC had enforced the Election Code of Conduct on September 28.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board has sought applications for a new stock exchange company, two commodity exchange markets and an undisclosed number of securities broker licenses. Based on the notification issued by the board, the last day to apply for the broker license is October 17. SEBON has set an application deadline of 45 days ending on November 1, for the new stock exchange company and commodity exchange markets. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SEBON has set a paid-up capital of Rs 3 billion for new stock exchanges and a minimum of Rs 200 million to a maximum of Rs 1.5 billion for new brokers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new broker licenses to be distributed by the board will be of three types. Based on the capital structure, the board will distribute three types of broker licenses to provide different services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the capital structure, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the provisions of the Commodity Exchange Market Act, of 2074, the minimum paid-up capital for the operation of the commodity market shall be as determined by the board and must not be less than Rs 50 million,.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15907', 'image' => '20221017042922_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-17 16:28:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16165', 'article_category_id' => '1', 'title' => 'Inflow of Tourists in Rising in Langtang National Park', 'sub_title' => '', 'summary' => 'October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an average, 50 tourists are turning up daily for trekking in the mountainous route of Rasuwa. The arrival of tourists in the district had taken a nosedive with the onset of Covid-19 pandemic and the situation remained adverse for a long time.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, the hotel and lodge business which was hit hard by the pandemic is gradually bouncing back. With the rise in the influx of tourists, the tourism entrepreneurs have become optimistic about the revival of tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest update from Langtang National Park, inflow of tourists, especially women, has increased remarkably at Gosainkunda and Langtang areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 13,084 domestic and foreign tourists who visited the district from mid-July to mid-October this year, 2,846 were women, the records revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the female tourists, 2,297 were domestic and 549 foreigners, informed Forest Technician of the Park, Nitendra Singh. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trekkers reach Gosainkunda through Sundarijal-Helambu trekking route and Dhunche-Chandanbari trekking route and then trek to Kyangjen of Langtang from Cholangpati through Thulosyafru. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As shared by the park officials, 11,758 Nepalis and 1,326 foreigners had entered the park premises from mid-July to mid-October this year to enjoy the scenic beauty of the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the national park sources, a total of 1,259 tourists from the United States, Germany, Japan, Korea and Australia and others had entered the national park while the number of tourists from SAARC region was only 67. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15906', 'image' => '20221017022549_20220424110255_Tourist Arrival (1).jpeg', 'article_date' => '2022-10-17 14:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16164', 'article_category_id' => '1', 'title' => 'Government to Provide 8 Percent Subsidy for Exports above Rs 500 Million', 'sub_title' => '', 'summary' => 'October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods. The Ministry of Industry, Commerce and Supplies has implemented the Export Subsidy Procedure 2079 in order to provide subsidy up to 8 percent on exports as per the provision in the budget of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new procedure has provision to provide 8 percent cash subsidy to a company which exports goods worth more than Rs 500 million in a year. However, the cash subsidy will be provided on the basis of the amount that exceeds the threshold of Rs 500 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2018, the ministry made a list of 26 items that are entitled to receive export subsidies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After amending the procedure, clinker, cement, steel, coal, resins and turpentine, plywood, tiger grass, fruits and dairy products (milk, cheese, cottage cheese, hardened cheese and fat) have been included in the list.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry will provide 5 percent subsidy for the export of handicraft products, processed and unprocessed herbs, turmeric, fresh vegetables, flowers, cardamom, ginger. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Likewise, the government will give 4 percent cash subsidy for the export of clinker, cement, steel, resin and turpentine, plywood, tiger grass, fruit and dairy products (milk, cheese, cottage cheese, hard cheese and fat), and pashmina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy for this group was increased to 4 percent from 3 percent</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the procedure, the subsidy received by the exporter should be spent in the field of international market promotion, technology and capacity development, and e-commerce. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy will be increased by 1 percentage point if the goods exported from Nepal are exported with a collective trademark. If the export shows 20 percent increase as compared to previous year, another 1 percentage point will be added to the subsidy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15905', 'image' => '20221017021023_export.jpg', 'article_date' => '2022-10-17 14:09:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">October 19: Kathmandu University School of Management (KUSOM) has been selected for the “WTO Chairs Program (WCP)”. Chief Secretary Shanker Das Bairagi officially launched the programme in Nepal on Monday, October 17. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The WTO Chairs Programme aims to support and promote trade-related academic activities by universities and research institutions in developing and least-developed countries. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The WTO Chairs Programme has been providing financial and technical assistance to educational institutions in developing countries to facilitate the participation of the members of the World Trade Organization in the multilateral trading system. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Through this programme, the concerned countries aim to increase the knowledge of international trade, law and economics. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Prof. Dr. Achyut Wagle, co-chairman of WCP Nepal and registrar of Kathmandu University said that it is a matter of pride to bring such a programme to Nepal. He informed that the WCP will be operated for the next four years (2022-2026) through KUSOM focusing mainly on three tasks; curriculum development and teaching, research and capacity building.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Curriculum Development Courses related to international trade will be developed at various levels. Towards research, there will be study/research related to business. In addition, KUSOM informed that awareness programs will be conducted in international conferences under the training program for capacity building.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Prime Minister Sher Bahadur Deuba as well sent his message to KUSOM expressing hope that the programme in Nepal would help in formulating the trade and investment policy for Nepal. He said that the programme will help improve the major obstacles that Nepal faces in international trade especially in the field of supply. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Xiangchen Zhang, the Deputy Director General of the World Trade Organization said that such a network will help in promoting exchange of ideas and knowledge. Chief Secretary Bairagi stated that WCP will help to create new ideas in the field of business through education and research. He also provided assurance regarding the support from the government for the success of this programme.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15919', 'image' => '20221019042156_kusommmm.jpg', 'article_date' => '2022-10-19 16:20:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16177', 'article_category_id' => '1', 'title' => 'NRB Implements Working Capital Loan Guidelines Despite Protests', 'sub_title' => '', 'summary' => 'October 19: Nepal Rastra Bank has implemented the Working Capital Loan Guidelines despite protest from the business community. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">October 19: Nepal Rastra Bank has implemented the Working Capital Loan Guidelines despite protest from the business community. The central bank had issued the Working Capital Loan Guidelines 2079 about two months ago in order to fix a limit on working capital loan. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan of a company whose annual transaction is less than Rs 20 million to 20 percent of the total transaction. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The private sector organsations including the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) as well as industrialists from across the country had been protesting against the move. They had urged the central bank not to implement the new guidelines and had been requesting amendment. However, the NRB started implementing the new provision from Tuesday disregarding the suggestions from the private sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The central bank had prepared a draft of the new guidelines about one year ago and had also asked for suggestions from the business community. NRB issued the guidelines on August 23 and directed banks and financial institutions to implement it from October 18.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the NRB would push the private sector on the brink of crisis.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The business community and industrialists argue that the new guidelines on working capital loan have added further burden to the private sector that is still struggling due to the impact of coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Handing a memorandum to Acting Governor of Nepal Rastra Bank Dr Neelam Dhungana Timsina on Monday, the FNCCI urged the central bank not to implement the guidelines immediately because the private sector was facing crisis at present. They urged the central bank to implement the guidelines when the environment becomes conducive to run businesses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">‘The economy is under external and internal pressure. Therefore, it would not be appropriate to implement the guidelines on working capital loan at the moment,” reads the memo submitted by FNCCI.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">“The guidelines can be implemented in a phase-wise manner once the economy returns back on track.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Despite the protest from the private sector, NRB has made it clear that it will not budge from its decision. NRB Governor Maha Prasad Adhikari has been maintaining that the guidelines have been implemented after a long preparation and includes suggestions from the business community. Therefore, the private sector has no right to object against the guidelines now, says Adhikari.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Governor Adhikari had earlier defended the central bank’s move to amend the Working Capital Loan Guidelines arguing that the new guidelines were introduced to control “over financing.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Adhikari argued that the new provisions were introduced because the businessmen were using loans provided to meet their day-to-day expenses were spent on other purposes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">“There has been over financing in the name of banking capital,” Adhikari said during a programme in September, adding, “We were forced to control the loan after businessmen started using it for other purposes than it was intended for.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15918', 'image' => '20221019030323_Working-Capital-Loan.jpg', 'article_date' => '2022-10-19 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16176', 'article_category_id' => '1', 'title' => 'Five Finance Ministers in the Fray for Direct Election ', 'sub_title' => '', 'summary' => 'October 19: Five finance ministers who steered the country's economy are vying for direct election on November 20. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 19: Five finance ministers who steered the country's economy are vying for direct election on November 20. Voters have shown special interest to the election contested by the incumbent and former finance ministers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former finance ministers Surendra Pandey, Bishnu Paudel, Barshaman Pun and Gyanendra Bahadur Karki and incumbent Finance Minister Janardan Sharma are competing in the upcoming election to the House of Representatives in first past the post (FPTP) category. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma, former Finance Minister Pun and Karki are general candidates of the ruling coalition. UML's Nandram Devkota is competing against Finance Minister Sharma. Since Sharma is a candidate from the CPN (Maoist Center)’s stronghold of Rukum West, he is expected to win again.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After the rebel candidates of Nepali Congress withdrew their candidacy in Rukum West, Finance Minister Sharma seems to have an easier path in the election. NC candidate Man Bahadur Nepali and Lal Bahadur Mahat of the same party, running as an independent candidate, have withdrawn their candidacy. Only Tarak KC and UML candidate Devkota are pose some challenge to Finance Minister Sharma.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, former finance ministers Pandey and Paudel competing in the election from UML. They are supported by Janata Samajwadi Party and RPP. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Pandey, an influential leader of the UML, will most likely face a stiff competition in Chitwan-1 against NC candidate Bishwanath Paudel, who has resigned as the vice president of the National Planning Commission to contest the election. Both candidates are considered to be experts in the field of economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Pandey is also the incumbent Member of Parliament from the same constituency. Dr Paudel is the vice president of the National Planning Commission and is a young economist. UML leader Pandey was a member of the National Assembly from 2054 to 60. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2066, he was the finance minister during the government led by Madhav Kumar Nepal. Pandey was a member of the Constituent Assembly in 2070 and won the parliamentary elections in 2074 from Chitwan-1. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">There were speculations that Dr Swarnim Wagle would contest the election from the same constituency. However, the NC did not give him a ticket after Paudel expressed his desire to contest in the election. Paudel has worked as an economic advisor to the International Labor Organization (ILO). Paudel is an Associate Professor at Kathmandu University School of Management. When Wagle was the vice-chairman of the National Planning Commission, Paudel worked there as an economic advisor.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deputy General Secretary of the Maoist Center and former Finance Minister Barshaman Pun is competing in the election from Rolpa. The common candidate of the ruling coalition will face competition from Purna Budhamgar of CPN-UML. Pun had earlier won the 2074 election from Rolpa.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, former finance minister and incumbent Minister for Communication and Information Technology Gyanendra Bahadur Karki is one of the candidates for the election. He has registered his candidacy representing the ruling coalition in Constituency 4 of Sunsari. His main competitor will be Jagdish Prasad Kusiait of UML. Karki had won the previous election from the same constituency.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">UML vice-president and former finance minister Bishnu Paudel and Raju Gurung of CPN Unified Socialist are competing against each other for seat in the House of Representatives. Even though the Election Commission had rejected Gurung's candidacy, the court issued a short-term order directing the EC not to reject Gurung's candidacy. Since this region is a stronghold of UML, Paudel is unlikely to face stiff opposition.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former Finance Minister Dr Prakash Chandra Lohani is in the proportional representation quota of Rastriya Prajatantra Party. Former Finance Minister Dr Baburam Bhattarai, Dr Ram Sharan Mahat and Dr Yuvraj Khatiwada have not registered their candidacy for the election. Former PM Bhattarai is supporting Pushpa Kamal Dahal, the former Prime Minister and Chairman of the CPN-Maoist Center from his constituency and has announced that he will not contest the federal elections.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15917', 'image' => '20221019012029_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-19 13:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16175', 'article_category_id' => '1', 'title' => 'Prices of Potatoes Rise by 257 Percent in 6 Months', 'sub_title' => '', 'summary' => 'October 19: The prices of potatoes have increased by as much as 257 percent during the last six months due to the decline in domestic production.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 19: The prices of potatoes have increased by as much as 257 percent during the last six months due to the decline in domestic production. According to the daily price list of Kalimati Fruits and Vegetables Market Development Committee, the price of red potato has increased the most (257 percent) during this period.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The average wholesale price of red potatoes, which was Rs 28 per kg in the third week of April, has now reached Rs 100. Consumers have to pay even more in the retail market. Consumers complain that they have to pay up to Rs 150 per kg for local red potatoes in retail shops. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In these six months, the price of red potatoes imported from India has also increased by 92 percent. In the third week of April, the price of red potatoes from India increased to Rs 45 from Rs 25 per kg. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the average price of potatoes produced in Mude has also increased by 136 percent from Rs 33 to Rs 75 per kg. Similarly, the price of white potatoes has increased by 239 percent from Rs 23 to Rs 75 per kg.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The consumers are bearing the brunt of the price hike in the wholesale market as the impact trickles down to the retail market as well. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sarita Nepali from Kirtipur shared that they go to retail stores at their doorstep instead of the wholesale market. “Even the least expensive potatoes cost Rs 80 to Rs 100 per kg,” said Nepali. Potatoes are the most used vegetable in the kitchen because they are compatible with all kinds of vegetables. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepali said that now that the price has skyrocketed, she has reduced the use of potatoes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Gita Prasad Acharya, president of Kalimati Fruits and Vegetables Market Development Committee, the prices of potatoes skyrocketed due to the decline in domestic production. He informed that the concerned authorities have started importing potatoes from the Indian market to meet the demand.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Acharya added that the price will come down only after locally-grown potatoes start coming to the market likely in the last week of November. Currently, about 50 percent of the potatoes entering the Kalimati wholesale market are imported from India and Bhutan.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sandip Subedi, a horticultural development officer at the National Center for Potato, Vegetable and Spice Crops Development, says that even though the production has doubled compared to 15 years ago, the country is yet to become self-sufficient in potatoes due to the increasing demand and consumption of potatoes in Nepal. He says that the main reason for the relatively low production is the lack of quality seeds and fertilizers. In general, potatoes produced in Nepal meet 90 percent of the total market demand. According to government data, the remaining 10 percent is imported from abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the center, 3,325,000 thousand metric tons of potatoes were produced in 198,000 hectares of land in the fiscal year 2077/78. The data of the Department of Customs shows that 342,000 tons of potatoes were imported from abroad that year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15916', 'image' => '20221019113349_potatoes-411975_1280-1024x682.jpg', 'article_date' => '2022-10-19 11:33:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16174', 'article_category_id' => '1', 'title' => 'Production Capacity of Flour Mills Limited to 40 Percent', 'sub_title' => '', 'summary' => 'October 18: India has imposed a ban on wheat exports to avert a possible food crisis in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: India has imposed a ban on wheat exports to avert a possible food crisis in the country. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thirty two flour mills operating in Nepal are struggling to import wheat due to the ban imposed by India. As a result, the mills informed that their production has shrunk by almost 60 percent. The flour mills, which are operating at 40 percent of their total capacity, are now compelled to buy wheat costing Rs 34 for Rs 50 per kilogram to produce refined flour and semolina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The domestic production of Nepal is able to meet the demand only for four months while the demand for flour during the remaining eight months is met through imports from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The price of flour and semolina has increased by Rs 15 per kg in four months after India imposed the ban. Due to the lack of wheat from India, the demand for local production has increased by 60 percent, and the prices have also increased.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Three months back, the price of wheat was Rs 34 per kg, but now it has reached Rs 50 per kg. After the increase in the price of wheat, the price of all-purpose flour, which was previously priced at Rs 49 per kg, increased to Rs 68 per kg and the price of fine flour has increased to Rs 68 from Rs 47 per kg. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Bikash Begwani, secretary of Nepal Flour Mills Association and Vice President of Morang Merchants’ Association informed that the price of semolina has climbed to Rs 70 from Rs 55 per kg.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A total of 32 flour mills operating in Nepal are in crisis due to unavailability of wheat from India. After the increase in the prices of flour and semolina, industries manufacturing noodles and biscuits have been affected as well. Some industries are reducing the weight of noodles and biscuits and selling them at the same price instead of increasing the price. At present, consumers have to pay an additional Rs 75 to buy 5 kg of flour.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tihar is the time when flour and semolina are sold the most since these are used to make bread and sweet dishes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although India has assured that it will supply as much quantity of wheat as requested by Nepal, the domestic industries of Nepal are facing crisis as the government failed to specify the quantity of wheat required for the country. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The government is not bringing wheat and the prices are increasing here. But large quantity of flour is coming from India without interruption due to the open border. As a result, the flour mills of Nepal are on the verge of closure,” Begwani said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After India stopped the export of wheat, the industrialists were demanding the government to bring wheat through “G2G” process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, the Ministry of Industry, Commerce and Supplies and the Ministry of Foreign Affairs are confused saying that although they had sent letter to India before Dashain for the required quantity of wheat, they are yet to get any response due to lack of effective initiatives from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Altogether 32 flour mills of Nepal need 1 million metric tons of wheat every year. Out of that amount, 350,000 tons are produced in Nepal while the remaining 650,000 tons should be imported from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last year, Nepal imported 335,932 metric tons of wheat worth more than Rs 6.9 billion from India. Ram Chandra Dhungana, information officer of Biratnagar Customs Office, informed that 6,100 tons of wheat worth more than Rs 2.19 billion was imported from Biratnagar Customs last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15915', 'image' => '20221018052601_wheat-flour-500x500.jpg', 'article_date' => '2022-10-18 17:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16173', 'article_category_id' => '1', 'title' => 'NEPSE Recommends Broker License for 45 Companies', 'sub_title' => '', 'summary' => 'October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17. There is a provision that any company seeking broker’s license from the Securities Board of Nepal (SEBON) must first get recommendation from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of October 16, a total of 20 companies have submitted applications with the board seeking brokers’ license. The board has not updated any details after that. The last date for submitting application for the license was October 17.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Murahari Parajuli, information officer of NEPSE, most of the 45 companies that received recommendations are eligible for first-level broker services based on the capital structure set by the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Parajuli, three companies have received recommendations for the second-level broker license with full scope and only one company for the third-level stock dealer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Parajuli informed that Nabil Securities, a subsidiary company of Nabil Bank, has received recommendation from NEPSE for the third-level stock dealer license.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Parajuli said Mega Stock Market, Century Securities and Himalayan Securities have received recommendations for the second-level license with full scope.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications for to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The deadline to submit application for broker license was 30 days while the deadline for stock exchanges and commodity exchanges was of 45 days.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15914', 'image' => '20221018050531_nepse-live-shareprice.jpg', 'article_date' => '2022-10-18 17:04:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16172', 'article_category_id' => '1', 'title' => 'Jumla Facing Shortage of Cooking Gas, Petroleum Products ', 'sub_title' => '', 'summary' => 'October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumers have been facing difficulties in lack of sufficient amount of cooking gas and petroleum products in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Chief District Officer, Pramila Rijal, said shortage of petroleum products has been seen in the market following disruption of Karnali Highway. A team headed by Deputy Mayor of Chandannath Municipality, Ram Devi Khadka, and Assistant Chief District Officer, Rijal, had carried out monitoring of groceries and dealers of petroleum products after receiving complaints of black marketing in the name of road disruption. In course of market monitoring, shortage of petroleum products was found at the district headquarters. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Rijal shared that the stock of food stuffs and edible oil in the market is enough for around two months. The team had carried out monitoring of 10 shops. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Road Division Office, Jumla, efforts are underway to resume the road as soon as possible. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15913', 'image' => '20221018042318_jumla.jpg', 'article_date' => '2022-10-18 16:22:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16171', 'article_category_id' => '1', 'title' => 'Clear Sky Observed with the Retreat of Monsoon, Temperature Expected to Decline ', 'sub_title' => '', 'summary' => 'October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Weather Forecasting Division, Hira Bhattarai, informed that temperature has been decreasing for some days in the country. The westerly wind is getting active. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Generally as the monsoon retreats, westerly wind becomes active. So, we are likely to have light rainfall in the hill areas of Sudurpaschim, Karnali and Lumbini provinces today and tomorrow," added Bhattarai. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The westerly wind also brings cold. The country would see rising cold in the days ahead. This year, the monsoon exited from the provinces of Sudurpaschim, Karnali, Lumbini, Gandaki and Madhes last Saturday while it exited from Province-1 on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the retreat of monsoon, the weather has become clear across the country for some days. The minimum temperature of Kathmandu was recorded at 12 degrees Celsius today while maximum temperature was 26 degrees. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15912', 'image' => '20221018041000_PL_Banepa.jpg', 'article_date' => '2022-10-18 14:01:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16170', 'article_category_id' => '1', 'title' => 'Stakeholders in Favour of Promoting Innovation in Local Governance', 'sub_title' => '', 'summary' => 'October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The programme was organized by the research institution with the theme “Promoting Innovation in Local Governance for Inclusive Economic Development of Nepal”. The objective of the symposium was to share innovative practices of local governments, to discuss ways to bolster the local governance system and to strengthen the networking among stakeholders working in public policy and governance, the organisers said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the first day of the symposium, 11 municipalities from six provinces shared their public innovations. Not only this, they also put forth the key lessons learned from those innovations as well as the dimension of opportunities opened up for them to effectively scale up. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the second day, national stakeholders deliberated on ways to institutionalize the learning from the discussions of the first day and scale up policy impact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second day of the symposium also featured a seminar on “Building Gender Sensitivity in Government Institutions” with various dialogue sessions. During the sessions, international experts and scholars like Prof Soledad Prillaman, assistant professor of political science at Stanford University and Prof Ben Berger, associate professor of political science and executive director of Lang Center for Civic and Social Responsibility at Swarthmore College joined virtually as keynote speakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The symposium concluded that measures of bringing change to elevate the economic status of Nepal can be achieved through the policy level. Furthermore, the chairperson of Governance Lab, Dr Pukar Malla unveiled the Declaration for Collective Action at the end of the symposium. The declaration highlights “Inclusion, Innovation, Local Governance and Economic Development” as the four core commitment areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the pogramme, Kalyan Shrestha, former chief justice of the Supreme Court of Nepal said, “Development without inclusiveness will not bring peace but crisis. Our development plans and policies have not been able to incorporate inclusiveness so far. Therefore, it is very important that we create a common vision about inclusive development in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Swarnim Wagle, former vice- chairperson of the National Planning Commission, complained that federalism failed due to the heavily divided public and political opinion which hindered the local government as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, speaking at the programme, Krishna Gyawali, former secretary of the Government of Nepal highlighted the importance of good governance for the success of federalism.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15911', 'image' => '20221018123159_NGS 2022 Group Pic.JPEG', 'article_date' => '2022-10-18 12:31:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16169', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 8.18 Billion after Dashain', 'sub_title' => '', 'summary' => 'October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. The Nepal Bankers Association informed that the money withdrawn from the banks before Dashain have started returning back to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, between October 1 and 7, deposits of commercial banks had decreased by Rs 7.99 billion and stood at Rs 4510 billion. However, bank deposits increased again to Rs 4519 billion between October 8 to 14. The deposits of commercial banks increased by Rs 8.18 billion in the review week. During the same period, credit flow of banks increased by just Rs 62 million. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, the loan disbursement of banks increased from Rs 41926 billion to Rs 4193.2 billion as of October 14. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) had exchanged new notes for old ones worth Rs 16 billion for Dashain. Apart from this, new notes worth Rs 40 billion were sent to the market, according to a statement issued by NRB. The central bank says that the cash that went to the market will gradually return to the banking system through deposits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On October 14, the average credit-to-deposit (CD) ratio of banks stood at 86.96 percent. According to the instructions of the NRB, banks should maintain the CD ratio within 90 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15910', 'image' => '20221018112851_Banks - Copy.jpg', 'article_date' => '2022-10-18 11:28:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16168', 'article_category_id' => '1', 'title' => 'Govt Declares Public Holiday Today to Mourn the Demise of Centenarian Joshi ', 'sub_title' => '', 'summary' => 'October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the Ministry of Home Affairs stated that the government has decided to give a public holiday across the country on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement issued by the ministry’s spokesperson Phanindra Mani Pokharel reads that the government has also decided to raise the national flag at half-mast on Tuesday at all government offices, public organisations across the nation and at diplomatic missions abroad to mourn the passing away of cultural expert Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi passed away on Sunday at the age of 103. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15909', 'image' => '20221018102653_D6aANBrUYAEKz_7.jpg', 'article_date' => '2022-10-18 10:26:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16167', 'article_category_id' => '1', 'title' => 'Dengue Spreads all Over the Country ', 'sub_title' => 'Mountainous Districts of Karnali Province see Dengue Cases due to Climate Change ', 'summary' => 'October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A total of 40,029 people have been infected since the last outbreak in July, according to the ministry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said it has expedited efforts to prevent and control dengue infection as well as to treat the infected ones. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Impact of Climate Change</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Province Health Service Directorate, Surkhet, a total of 40 dengue patients have been detected in Humla, Jumla, Mugu and Dolpa this year by the time this report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue Control Source Person and vector control officer of the Directorate, Shyam Lal Acharya, said mountainous region is becoming favourable for lifecycle of mosquito. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Mosquito larva were found in Khatyang of Mugu two years ago and dengue patients were also detected. Cases of dengue has started increasing here after mountainous region is becoming favourable for life cycle of mosquito," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A dengue patient was found in Humla, nine in Dolpa, eight in Mugu and 22 in Jumla this time, according to the directorate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior physician of Province Hospital, Dr KN Poudel, pointed out that climate change is the main reason behind the dengue cases in mountainous region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October. There are now 441 dengue patients in Karnali Province. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15908', 'image' => '20221017062819_Aedes-species-mosquito-transmitter-of-dengue.jpg', 'article_date' => '2022-10-17 18:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16166', 'article_category_id' => '1', 'title' => 'Election Commission Seeks Clarification from SEBON Regarding Application for New Licenses', 'sub_title' => '', 'summary' => 'October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission has asked for clarification from SEBON within three days regarding why it went against the Election Code of Conduct 2079. The commission had instructed all government bodies not to issue new license during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission clarified that the Election Code of Conduct has a provision which clearly mentions all concerned bodies not to conduct any new programme or to announce, approve or operate new policies, plans and programmes other than those approved in the annual budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board is ready to submit an explanation to the Election Commission regarding its move. Tej Prasad Devkota, information officer of the board, informed that the board will submit an explanation to the Election Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board argued that seeking application for the license is not against the code of conduct as it was done before the election code of conduct came into force.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Devkota, 20 companies have applied for broker license as of 5 pm, Sunday. Devkota also informed us that no application has been received for stock exchange and commodity exchange companies. There is a provision to take the recommendation of the Nepal Stock Exchange Limited (NEPSE) before applying for a new broker license with the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Information officer of NEPSE, Murahari Parajuli informed that although only 20 companies have applied for broker licenses with the board till Sunday, 32 companies have received recommendations from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had announced application for three types of broker licenses on September 18. On the other hand, the EC had enforced the Election Code of Conduct on September 28.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board has sought applications for a new stock exchange company, two commodity exchange markets and an undisclosed number of securities broker licenses. Based on the notification issued by the board, the last day to apply for the broker license is October 17. SEBON has set an application deadline of 45 days ending on November 1, for the new stock exchange company and commodity exchange markets. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SEBON has set a paid-up capital of Rs 3 billion for new stock exchanges and a minimum of Rs 200 million to a maximum of Rs 1.5 billion for new brokers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new broker licenses to be distributed by the board will be of three types. Based on the capital structure, the board will distribute three types of broker licenses to provide different services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the capital structure, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the provisions of the Commodity Exchange Market Act, of 2074, the minimum paid-up capital for the operation of the commodity market shall be as determined by the board and must not be less than Rs 50 million,.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15907', 'image' => '20221017042922_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-17 16:28:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16165', 'article_category_id' => '1', 'title' => 'Inflow of Tourists in Rising in Langtang National Park', 'sub_title' => '', 'summary' => 'October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an average, 50 tourists are turning up daily for trekking in the mountainous route of Rasuwa. The arrival of tourists in the district had taken a nosedive with the onset of Covid-19 pandemic and the situation remained adverse for a long time.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, the hotel and lodge business which was hit hard by the pandemic is gradually bouncing back. With the rise in the influx of tourists, the tourism entrepreneurs have become optimistic about the revival of tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest update from Langtang National Park, inflow of tourists, especially women, has increased remarkably at Gosainkunda and Langtang areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 13,084 domestic and foreign tourists who visited the district from mid-July to mid-October this year, 2,846 were women, the records revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the female tourists, 2,297 were domestic and 549 foreigners, informed Forest Technician of the Park, Nitendra Singh. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trekkers reach Gosainkunda through Sundarijal-Helambu trekking route and Dhunche-Chandanbari trekking route and then trek to Kyangjen of Langtang from Cholangpati through Thulosyafru. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As shared by the park officials, 11,758 Nepalis and 1,326 foreigners had entered the park premises from mid-July to mid-October this year to enjoy the scenic beauty of the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the national park sources, a total of 1,259 tourists from the United States, Germany, Japan, Korea and Australia and others had entered the national park while the number of tourists from SAARC region was only 67. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15906', 'image' => '20221017022549_20220424110255_Tourist Arrival (1).jpeg', 'article_date' => '2022-10-17 14:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16164', 'article_category_id' => '1', 'title' => 'Government to Provide 8 Percent Subsidy for Exports above Rs 500 Million', 'sub_title' => '', 'summary' => 'October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods. The Ministry of Industry, Commerce and Supplies has implemented the Export Subsidy Procedure 2079 in order to provide subsidy up to 8 percent on exports as per the provision in the budget of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new procedure has provision to provide 8 percent cash subsidy to a company which exports goods worth more than Rs 500 million in a year. However, the cash subsidy will be provided on the basis of the amount that exceeds the threshold of Rs 500 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2018, the ministry made a list of 26 items that are entitled to receive export subsidies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After amending the procedure, clinker, cement, steel, coal, resins and turpentine, plywood, tiger grass, fruits and dairy products (milk, cheese, cottage cheese, hardened cheese and fat) have been included in the list.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry will provide 5 percent subsidy for the export of handicraft products, processed and unprocessed herbs, turmeric, fresh vegetables, flowers, cardamom, ginger. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Likewise, the government will give 4 percent cash subsidy for the export of clinker, cement, steel, resin and turpentine, plywood, tiger grass, fruit and dairy products (milk, cheese, cottage cheese, hard cheese and fat), and pashmina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy for this group was increased to 4 percent from 3 percent</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the procedure, the subsidy received by the exporter should be spent in the field of international market promotion, technology and capacity development, and e-commerce. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy will be increased by 1 percentage point if the goods exported from Nepal are exported with a collective trademark. If the export shows 20 percent increase as compared to previous year, another 1 percentage point will be added to the subsidy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15905', 'image' => '20221017021023_export.jpg', 'article_date' => '2022-10-17 14:09:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">October 19: Kathmandu University School of Management (KUSOM) has been selected for the “WTO Chairs Program (WCP)”. Chief Secretary Shanker Das Bairagi officially launched the programme in Nepal on Monday, October 17. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The WTO Chairs Programme aims to support and promote trade-related academic activities by universities and research institutions in developing and least-developed countries. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The WTO Chairs Programme has been providing financial and technical assistance to educational institutions in developing countries to facilitate the participation of the members of the World Trade Organization in the multilateral trading system. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Through this programme, the concerned countries aim to increase the knowledge of international trade, law and economics. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Prof. Dr. Achyut Wagle, co-chairman of WCP Nepal and registrar of Kathmandu University said that it is a matter of pride to bring such a programme to Nepal. He informed that the WCP will be operated for the next four years (2022-2026) through KUSOM focusing mainly on three tasks; curriculum development and teaching, research and capacity building.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Curriculum Development Courses related to international trade will be developed at various levels. Towards research, there will be study/research related to business. In addition, KUSOM informed that awareness programs will be conducted in international conferences under the training program for capacity building.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Prime Minister Sher Bahadur Deuba as well sent his message to KUSOM expressing hope that the programme in Nepal would help in formulating the trade and investment policy for Nepal. He said that the programme will help improve the major obstacles that Nepal faces in international trade especially in the field of supply. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Xiangchen Zhang, the Deputy Director General of the World Trade Organization said that such a network will help in promoting exchange of ideas and knowledge. Chief Secretary Bairagi stated that WCP will help to create new ideas in the field of business through education and research. He also provided assurance regarding the support from the government for the success of this programme.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15919', 'image' => '20221019042156_kusommmm.jpg', 'article_date' => '2022-10-19 16:20:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16177', 'article_category_id' => '1', 'title' => 'NRB Implements Working Capital Loan Guidelines Despite Protests', 'sub_title' => '', 'summary' => 'October 19: Nepal Rastra Bank has implemented the Working Capital Loan Guidelines despite protest from the business community. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">October 19: Nepal Rastra Bank has implemented the Working Capital Loan Guidelines despite protest from the business community. The central bank had issued the Working Capital Loan Guidelines 2079 about two months ago in order to fix a limit on working capital loan. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">As per the new guidelines, the central bank has capped the limit on working capital loan of a company whose annual transaction is less than Rs 20 million to 20 percent of the total transaction. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The private sector organsations including the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) as well as industrialists from across the country had been protesting against the move. They had urged the central bank not to implement the new guidelines and had been requesting amendment. However, the NRB started implementing the new provision from Tuesday disregarding the suggestions from the private sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The central bank had prepared a draft of the new guidelines about one year ago and had also asked for suggestions from the business community. NRB issued the guidelines on August 23 and directed banks and financial institutions to implement it from October 18.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Stakeholders have expressed concerns that the Working Capital Loan Guidelines 2079 issued by the NRB would push the private sector on the brink of crisis.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">The business community and industrialists argue that the new guidelines on working capital loan have added further burden to the private sector that is still struggling due to the impact of coronavirus pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Handing a memorandum to Acting Governor of Nepal Rastra Bank Dr Neelam Dhungana Timsina on Monday, the FNCCI urged the central bank not to implement the guidelines immediately because the private sector was facing crisis at present. They urged the central bank to implement the guidelines when the environment becomes conducive to run businesses.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">‘The economy is under external and internal pressure. Therefore, it would not be appropriate to implement the guidelines on working capital loan at the moment,” reads the memo submitted by FNCCI.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">“The guidelines can be implemented in a phase-wise manner once the economy returns back on track.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Despite the protest from the private sector, NRB has made it clear that it will not budge from its decision. NRB Governor Maha Prasad Adhikari has been maintaining that the guidelines have been implemented after a long preparation and includes suggestions from the business community. Therefore, the private sector has no right to object against the guidelines now, says Adhikari.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Governor Adhikari had earlier defended the central bank’s move to amend the Working Capital Loan Guidelines arguing that the new guidelines were introduced to control “over financing.”</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">Adhikari argued that the new provisions were introduced because the businessmen were using loans provided to meet their day-to-day expenses were spent on other purposes.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Calibri","sans-serif"">“There has been over financing in the name of banking capital,” Adhikari said during a programme in September, adding, “We were forced to control the loan after businessmen started using it for other purposes than it was intended for.”</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15918', 'image' => '20221019030323_Working-Capital-Loan.jpg', 'article_date' => '2022-10-19 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16176', 'article_category_id' => '1', 'title' => 'Five Finance Ministers in the Fray for Direct Election ', 'sub_title' => '', 'summary' => 'October 19: Five finance ministers who steered the country's economy are vying for direct election on November 20. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 19: Five finance ministers who steered the country's economy are vying for direct election on November 20. Voters have shown special interest to the election contested by the incumbent and former finance ministers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former finance ministers Surendra Pandey, Bishnu Paudel, Barshaman Pun and Gyanendra Bahadur Karki and incumbent Finance Minister Janardan Sharma are competing in the upcoming election to the House of Representatives in first past the post (FPTP) category. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma, former Finance Minister Pun and Karki are general candidates of the ruling coalition. UML's Nandram Devkota is competing against Finance Minister Sharma. Since Sharma is a candidate from the CPN (Maoist Center)’s stronghold of Rukum West, he is expected to win again.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After the rebel candidates of Nepali Congress withdrew their candidacy in Rukum West, Finance Minister Sharma seems to have an easier path in the election. NC candidate Man Bahadur Nepali and Lal Bahadur Mahat of the same party, running as an independent candidate, have withdrawn their candidacy. Only Tarak KC and UML candidate Devkota are pose some challenge to Finance Minister Sharma.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, former finance ministers Pandey and Paudel competing in the election from UML. They are supported by Janata Samajwadi Party and RPP. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Pandey, an influential leader of the UML, will most likely face a stiff competition in Chitwan-1 against NC candidate Bishwanath Paudel, who has resigned as the vice president of the National Planning Commission to contest the election. Both candidates are considered to be experts in the field of economy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Pandey is also the incumbent Member of Parliament from the same constituency. Dr Paudel is the vice president of the National Planning Commission and is a young economist. UML leader Pandey was a member of the National Assembly from 2054 to 60. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2066, he was the finance minister during the government led by Madhav Kumar Nepal. Pandey was a member of the Constituent Assembly in 2070 and won the parliamentary elections in 2074 from Chitwan-1. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">There were speculations that Dr Swarnim Wagle would contest the election from the same constituency. However, the NC did not give him a ticket after Paudel expressed his desire to contest in the election. Paudel has worked as an economic advisor to the International Labor Organization (ILO). Paudel is an Associate Professor at Kathmandu University School of Management. When Wagle was the vice-chairman of the National Planning Commission, Paudel worked there as an economic advisor.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Deputy General Secretary of the Maoist Center and former Finance Minister Barshaman Pun is competing in the election from Rolpa. The common candidate of the ruling coalition will face competition from Purna Budhamgar of CPN-UML. Pun had earlier won the 2074 election from Rolpa.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, former finance minister and incumbent Minister for Communication and Information Technology Gyanendra Bahadur Karki is one of the candidates for the election. He has registered his candidacy representing the ruling coalition in Constituency 4 of Sunsari. His main competitor will be Jagdish Prasad Kusiait of UML. Karki had won the previous election from the same constituency.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">UML vice-president and former finance minister Bishnu Paudel and Raju Gurung of CPN Unified Socialist are competing against each other for seat in the House of Representatives. Even though the Election Commission had rejected Gurung's candidacy, the court issued a short-term order directing the EC not to reject Gurung's candidacy. Since this region is a stronghold of UML, Paudel is unlikely to face stiff opposition.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Former Finance Minister Dr Prakash Chandra Lohani is in the proportional representation quota of Rastriya Prajatantra Party. Former Finance Minister Dr Baburam Bhattarai, Dr Ram Sharan Mahat and Dr Yuvraj Khatiwada have not registered their candidacy for the election. Former PM Bhattarai is supporting Pushpa Kamal Dahal, the former Prime Minister and Chairman of the CPN-Maoist Center from his constituency and has announced that he will not contest the federal elections.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15917', 'image' => '20221019012029_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-19 13:19:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16175', 'article_category_id' => '1', 'title' => 'Prices of Potatoes Rise by 257 Percent in 6 Months', 'sub_title' => '', 'summary' => 'October 19: The prices of potatoes have increased by as much as 257 percent during the last six months due to the decline in domestic production.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 19: The prices of potatoes have increased by as much as 257 percent during the last six months due to the decline in domestic production. According to the daily price list of Kalimati Fruits and Vegetables Market Development Committee, the price of red potato has increased the most (257 percent) during this period.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The average wholesale price of red potatoes, which was Rs 28 per kg in the third week of April, has now reached Rs 100. Consumers have to pay even more in the retail market. Consumers complain that they have to pay up to Rs 150 per kg for local red potatoes in retail shops. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In these six months, the price of red potatoes imported from India has also increased by 92 percent. In the third week of April, the price of red potatoes from India increased to Rs 45 from Rs 25 per kg. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the average price of potatoes produced in Mude has also increased by 136 percent from Rs 33 to Rs 75 per kg. Similarly, the price of white potatoes has increased by 239 percent from Rs 23 to Rs 75 per kg.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The consumers are bearing the brunt of the price hike in the wholesale market as the impact trickles down to the retail market as well. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sarita Nepali from Kirtipur shared that they go to retail stores at their doorstep instead of the wholesale market. “Even the least expensive potatoes cost Rs 80 to Rs 100 per kg,” said Nepali. Potatoes are the most used vegetable in the kitchen because they are compatible with all kinds of vegetables. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepali said that now that the price has skyrocketed, she has reduced the use of potatoes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Gita Prasad Acharya, president of Kalimati Fruits and Vegetables Market Development Committee, the prices of potatoes skyrocketed due to the decline in domestic production. He informed that the concerned authorities have started importing potatoes from the Indian market to meet the demand.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Acharya added that the price will come down only after locally-grown potatoes start coming to the market likely in the last week of November. Currently, about 50 percent of the potatoes entering the Kalimati wholesale market are imported from India and Bhutan.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sandip Subedi, a horticultural development officer at the National Center for Potato, Vegetable and Spice Crops Development, says that even though the production has doubled compared to 15 years ago, the country is yet to become self-sufficient in potatoes due to the increasing demand and consumption of potatoes in Nepal. He says that the main reason for the relatively low production is the lack of quality seeds and fertilizers. In general, potatoes produced in Nepal meet 90 percent of the total market demand. According to government data, the remaining 10 percent is imported from abroad.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the center, 3,325,000 thousand metric tons of potatoes were produced in 198,000 hectares of land in the fiscal year 2077/78. The data of the Department of Customs shows that 342,000 tons of potatoes were imported from abroad that year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15916', 'image' => '20221019113349_potatoes-411975_1280-1024x682.jpg', 'article_date' => '2022-10-19 11:33:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16174', 'article_category_id' => '1', 'title' => 'Production Capacity of Flour Mills Limited to 40 Percent', 'sub_title' => '', 'summary' => 'October 18: India has imposed a ban on wheat exports to avert a possible food crisis in the country.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: India has imposed a ban on wheat exports to avert a possible food crisis in the country. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Thirty two flour mills operating in Nepal are struggling to import wheat due to the ban imposed by India. As a result, the mills informed that their production has shrunk by almost 60 percent. The flour mills, which are operating at 40 percent of their total capacity, are now compelled to buy wheat costing Rs 34 for Rs 50 per kilogram to produce refined flour and semolina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The domestic production of Nepal is able to meet the demand only for four months while the demand for flour during the remaining eight months is met through imports from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The price of flour and semolina has increased by Rs 15 per kg in four months after India imposed the ban. Due to the lack of wheat from India, the demand for local production has increased by 60 percent, and the prices have also increased.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Three months back, the price of wheat was Rs 34 per kg, but now it has reached Rs 50 per kg. After the increase in the price of wheat, the price of all-purpose flour, which was previously priced at Rs 49 per kg, increased to Rs 68 per kg and the price of fine flour has increased to Rs 68 from Rs 47 per kg. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Bikash Begwani, secretary of Nepal Flour Mills Association and Vice President of Morang Merchants’ Association informed that the price of semolina has climbed to Rs 70 from Rs 55 per kg.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A total of 32 flour mills operating in Nepal are in crisis due to unavailability of wheat from India. After the increase in the prices of flour and semolina, industries manufacturing noodles and biscuits have been affected as well. Some industries are reducing the weight of noodles and biscuits and selling them at the same price instead of increasing the price. At present, consumers have to pay an additional Rs 75 to buy 5 kg of flour.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tihar is the time when flour and semolina are sold the most since these are used to make bread and sweet dishes.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although India has assured that it will supply as much quantity of wheat as requested by Nepal, the domestic industries of Nepal are facing crisis as the government failed to specify the quantity of wheat required for the country. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The government is not bringing wheat and the prices are increasing here. But large quantity of flour is coming from India without interruption due to the open border. As a result, the flour mills of Nepal are on the verge of closure,” Begwani said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After India stopped the export of wheat, the industrialists were demanding the government to bring wheat through “G2G” process.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, the Ministry of Industry, Commerce and Supplies and the Ministry of Foreign Affairs are confused saying that although they had sent letter to India before Dashain for the required quantity of wheat, they are yet to get any response due to lack of effective initiatives from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Altogether 32 flour mills of Nepal need 1 million metric tons of wheat every year. Out of that amount, 350,000 tons are produced in Nepal while the remaining 650,000 tons should be imported from India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Last year, Nepal imported 335,932 metric tons of wheat worth more than Rs 6.9 billion from India. Ram Chandra Dhungana, information officer of Biratnagar Customs Office, informed that 6,100 tons of wheat worth more than Rs 2.19 billion was imported from Biratnagar Customs last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15915', 'image' => '20221018052601_wheat-flour-500x500.jpg', 'article_date' => '2022-10-18 17:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16173', 'article_category_id' => '1', 'title' => 'NEPSE Recommends Broker License for 45 Companies', 'sub_title' => '', 'summary' => 'October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Nepal Stock Exchange (NEPSE) has issued recommendations for broker license to 45 companies as of October 17. There is a provision that any company seeking broker’s license from the Securities Board of Nepal (SEBON) must first get recommendation from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of October 16, a total of 20 companies have submitted applications with the board seeking brokers’ license. The board has not updated any details after that. The last date for submitting application for the license was October 17.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Murahari Parajuli, information officer of NEPSE, most of the 45 companies that received recommendations are eligible for first-level broker services based on the capital structure set by the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Parajuli, three companies have received recommendations for the second-level broker license with full scope and only one company for the third-level stock dealer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Parajuli informed that Nabil Securities, a subsidiary company of Nabil Bank, has received recommendation from NEPSE for the third-level stock dealer license.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Parajuli said Mega Stock Market, Century Securities and Himalayan Securities have received recommendations for the second-level license with full scope.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications for to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The deadline to submit application for broker license was 30 days while the deadline for stock exchanges and commodity exchanges was of 45 days.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15914', 'image' => '20221018050531_nepse-live-shareprice.jpg', 'article_date' => '2022-10-18 17:04:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16172', 'article_category_id' => '1', 'title' => 'Jumla Facing Shortage of Cooking Gas, Petroleum Products ', 'sub_title' => '', 'summary' => 'October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Jumla district has started facing shortage of cooking gas and petroleum products due to obstruction of Karnai Highway following incessant rainfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumers have been facing difficulties in lack of sufficient amount of cooking gas and petroleum products in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Assistant Chief District Officer, Pramila Rijal, said shortage of petroleum products has been seen in the market following disruption of Karnali Highway. A team headed by Deputy Mayor of Chandannath Municipality, Ram Devi Khadka, and Assistant Chief District Officer, Rijal, had carried out monitoring of groceries and dealers of petroleum products after receiving complaints of black marketing in the name of road disruption. In course of market monitoring, shortage of petroleum products was found at the district headquarters. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Rijal shared that the stock of food stuffs and edible oil in the market is enough for around two months. The team had carried out monitoring of 10 shops. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Road Division Office, Jumla, efforts are underway to resume the road as soon as possible. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15913', 'image' => '20221018042318_jumla.jpg', 'article_date' => '2022-10-18 16:22:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16171', 'article_category_id' => '1', 'title' => 'Clear Sky Observed with the Retreat of Monsoon, Temperature Expected to Decline ', 'sub_title' => '', 'summary' => 'October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: Change in weather with light rainfall is likely to occur due to the impact of westerly wind. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist at the Weather Forecasting Division, Hira Bhattarai, informed that temperature has been decreasing for some days in the country. The westerly wind is getting active. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Generally as the monsoon retreats, westerly wind becomes active. So, we are likely to have light rainfall in the hill areas of Sudurpaschim, Karnali and Lumbini provinces today and tomorrow," added Bhattarai. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The westerly wind also brings cold. The country would see rising cold in the days ahead. This year, the monsoon exited from the provinces of Sudurpaschim, Karnali, Lumbini, Gandaki and Madhes last Saturday while it exited from Province-1 on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the retreat of monsoon, the weather has become clear across the country for some days. The minimum temperature of Kathmandu was recorded at 12 degrees Celsius today while maximum temperature was 26 degrees. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15912', 'image' => '20221018041000_PL_Banepa.jpg', 'article_date' => '2022-10-18 14:01:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16170', 'article_category_id' => '1', 'title' => 'Stakeholders in Favour of Promoting Innovation in Local Governance', 'sub_title' => '', 'summary' => 'October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 18: Stakeholders representing the government, private sector, civil society, international scholars and development agencies came together to discuss new dimensions of innovation in local governance at the “National Governance Symposium 2022” organized by the Governance Lab on October 13 and 14. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The programme was organized by the research institution with the theme “Promoting Innovation in Local Governance for Inclusive Economic Development of Nepal”. The objective of the symposium was to share innovative practices of local governments, to discuss ways to bolster the local governance system and to strengthen the networking among stakeholders working in public policy and governance, the organisers said in a statement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the first day of the symposium, 11 municipalities from six provinces shared their public innovations. Not only this, they also put forth the key lessons learned from those innovations as well as the dimension of opportunities opened up for them to effectively scale up. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the second day, national stakeholders deliberated on ways to institutionalize the learning from the discussions of the first day and scale up policy impact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second day of the symposium also featured a seminar on “Building Gender Sensitivity in Government Institutions” with various dialogue sessions. During the sessions, international experts and scholars like Prof Soledad Prillaman, assistant professor of political science at Stanford University and Prof Ben Berger, associate professor of political science and executive director of Lang Center for Civic and Social Responsibility at Swarthmore College joined virtually as keynote speakers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The symposium concluded that measures of bringing change to elevate the economic status of Nepal can be achieved through the policy level. Furthermore, the chairperson of Governance Lab, Dr Pukar Malla unveiled the Declaration for Collective Action at the end of the symposium. The declaration highlights “Inclusion, Innovation, Local Governance and Economic Development” as the four core commitment areas. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the pogramme, Kalyan Shrestha, former chief justice of the Supreme Court of Nepal said, “Development without inclusiveness will not bring peace but crisis. Our development plans and policies have not been able to incorporate inclusiveness so far. Therefore, it is very important that we create a common vision about inclusive development in Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dr Swarnim Wagle, former vice- chairperson of the National Planning Commission, complained that federalism failed due to the heavily divided public and political opinion which hindered the local government as well. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, speaking at the programme, Krishna Gyawali, former secretary of the Government of Nepal highlighted the importance of good governance for the success of federalism.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15911', 'image' => '20221018123159_NGS 2022 Group Pic.JPEG', 'article_date' => '2022-10-18 12:31:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16169', 'article_category_id' => '1', 'title' => 'Bank Deposits Increase by Rs 8.18 Billion after Dashain', 'sub_title' => '', 'summary' => 'October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 18: Deposits of commercial banks increased by Rs 8.18 billion within a week after the Dashain festival. The Nepal Bankers Association informed that the money withdrawn from the banks before Dashain have started returning back to the banking system.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, between October 1 and 7, deposits of commercial banks had decreased by Rs 7.99 billion and stood at Rs 4510 billion. However, bank deposits increased again to Rs 4519 billion between October 8 to 14. The deposits of commercial banks increased by Rs 8.18 billion in the review week. During the same period, credit flow of banks increased by just Rs 62 million. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the association, the loan disbursement of banks increased from Rs 41926 billion to Rs 4193.2 billion as of October 14. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) had exchanged new notes for old ones worth Rs 16 billion for Dashain. Apart from this, new notes worth Rs 40 billion were sent to the market, according to a statement issued by NRB. The central bank says that the cash that went to the market will gradually return to the banking system through deposits.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On October 14, the average credit-to-deposit (CD) ratio of banks stood at 86.96 percent. According to the instructions of the NRB, banks should maintain the CD ratio within 90 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15910', 'image' => '20221018112851_Banks - Copy.jpg', 'article_date' => '2022-10-18 11:28:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16168', 'article_category_id' => '1', 'title' => 'Govt Declares Public Holiday Today to Mourn the Demise of Centenarian Joshi ', 'sub_title' => '', 'summary' => 'October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 18: The government has declared a public holiday on Tuesday to mourn the demise of centenarian Satya Mohan Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Monday, the Ministry of Home Affairs stated that the government has decided to give a public holiday across the country on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The statement issued by the ministry’s spokesperson Phanindra Mani Pokharel reads that the government has also decided to raise the national flag at half-mast on Tuesday at all government offices, public organisations across the nation and at diplomatic missions abroad to mourn the passing away of cultural expert Joshi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joshi passed away on Sunday at the age of 103. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-18', 'modified' => '2022-10-18', 'keywords' => '', 'description' => '', 'sortorder' => '15909', 'image' => '20221018102653_D6aANBrUYAEKz_7.jpg', 'article_date' => '2022-10-18 10:26:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16167', 'article_category_id' => '1', 'title' => 'Dengue Spreads all Over the Country ', 'sub_title' => 'Mountainous Districts of Karnali Province see Dengue Cases due to Climate Change ', 'summary' => 'October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Cases of dengue infection have been reported in all 77 districts of the country, According to the Ministry of Health and Population, the mosquito-borne disease has so far claimed 48 lives across the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A total of 40,029 people have been infected since the last outbreak in July, according to the ministry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said it has expedited efforts to prevent and control dengue infection as well as to treat the infected ones. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Impact of Climate Change</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Province Health Service Directorate, Surkhet, a total of 40 dengue patients have been detected in Humla, Jumla, Mugu and Dolpa this year by the time this report was prepared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dengue Control Source Person and vector control officer of the Directorate, Shyam Lal Acharya, said mountainous region is becoming favourable for lifecycle of mosquito. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Mosquito larva were found in Khatyang of Mugu two years ago and dengue patients were also detected. Cases of dengue has started increasing here after mountainous region is becoming favourable for life cycle of mosquito," he mentioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A dengue patient was found in Humla, nine in Dolpa, eight in Mugu and 22 in Jumla this time, according to the directorate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior physician of Province Hospital, Dr KN Poudel, pointed out that climate change is the main reason behind the dengue cases in mountainous region. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October. There are now 441 dengue patients in Karnali Province. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">-- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15908', 'image' => '20221017062819_Aedes-species-mosquito-transmitter-of-dengue.jpg', 'article_date' => '2022-10-17 18:27:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16166', 'article_category_id' => '1', 'title' => 'Election Commission Seeks Clarification from SEBON Regarding Application for New Licenses', 'sub_title' => '', 'summary' => 'October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 17: The Election Commission has sought clarification from the Securities Board of Nepal (SEBON) regarding its preparation to distribute new licenses to stock brokers, a stock exchange company and commodity exchange markets.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission has asked for clarification from SEBON within three days regarding why it went against the Election Code of Conduct 2079. The commission had instructed all government bodies not to issue new license during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The commission clarified that the Election Code of Conduct has a provision which clearly mentions all concerned bodies not to conduct any new programme or to announce, approve or operate new policies, plans and programmes other than those approved in the annual budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board is ready to submit an explanation to the Election Commission regarding its move. Tej Prasad Devkota, information officer of the board, informed that the board will submit an explanation to the Election Commission.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board argued that seeking application for the license is not against the code of conduct as it was done before the election code of conduct came into force.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Devkota, 20 companies have applied for broker license as of 5 pm, Sunday. Devkota also informed us that no application has been received for stock exchange and commodity exchange companies. There is a provision to take the recommendation of the Nepal Stock Exchange Limited (NEPSE) before applying for a new broker license with the board.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Information officer of NEPSE, Murahari Parajuli informed that although only 20 companies have applied for broker licenses with the board till Sunday, 32 companies have received recommendations from NEPSE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had announced application for three types of broker licenses on September 18. On the other hand, the EC had enforced the Election Code of Conduct on September 28.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board has sought applications for a new stock exchange company, two commodity exchange markets and an undisclosed number of securities broker licenses. Based on the notification issued by the board, the last day to apply for the broker license is October 17. SEBON has set an application deadline of 45 days ending on November 1, for the new stock exchange company and commodity exchange markets. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">SEBON has set a paid-up capital of Rs 3 billion for new stock exchanges and a minimum of Rs 200 million to a maximum of Rs 1.5 billion for new brokers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The new broker licenses to be distributed by the board will be of three types. Based on the capital structure, the board will distribute three types of broker licenses to provide different services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the capital structure, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the third type of license will be issued for stock dealers who must maintain a minimum capital of Rs 1.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the provisions of the Commodity Exchange Market Act, of 2074, the minimum paid-up capital for the operation of the commodity market shall be as determined by the board and must not be less than Rs 50 million,.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15907', 'image' => '20221017042922_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-10-17 16:28:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16165', 'article_category_id' => '1', 'title' => 'Inflow of Tourists in Rising in Langtang National Park', 'sub_title' => '', 'summary' => 'October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Inflow of domestic and foreign tourists to Rasuwa for trekking and mountaineering has gradually increased with the advent of the autumn season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In an average, 50 tourists are turning up daily for trekking in the mountainous route of Rasuwa. The arrival of tourists in the district had taken a nosedive with the onset of Covid-19 pandemic and the situation remained adverse for a long time.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">However, the hotel and lodge business which was hit hard by the pandemic is gradually bouncing back. With the rise in the influx of tourists, the tourism entrepreneurs have become optimistic about the revival of tourism sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the latest update from Langtang National Park, inflow of tourists, especially women, has increased remarkably at Gosainkunda and Langtang areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among 13,084 domestic and foreign tourists who visited the district from mid-July to mid-October this year, 2,846 were women, the records revealed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of the female tourists, 2,297 were domestic and 549 foreigners, informed Forest Technician of the Park, Nitendra Singh. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Trekkers reach Gosainkunda through Sundarijal-Helambu trekking route and Dhunche-Chandanbari trekking route and then trek to Kyangjen of Langtang from Cholangpati through Thulosyafru. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As shared by the park officials, 11,758 Nepalis and 1,326 foreigners had entered the park premises from mid-July to mid-October this year to enjoy the scenic beauty of the area. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the national park sources, a total of 1,259 tourists from the United States, Germany, Japan, Korea and Australia and others had entered the national park while the number of tourists from SAARC region was only 67. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15906', 'image' => '20221017022549_20220424110255_Tourist Arrival (1).jpeg', 'article_date' => '2022-10-17 14:25:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16164', 'article_category_id' => '1', 'title' => 'Government to Provide 8 Percent Subsidy for Exports above Rs 500 Million', 'sub_title' => '', 'summary' => 'October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 17: The government implemented the policy of granting up to 8 percent subsidy on the basis of the income earned from export of goods. The Ministry of Industry, Commerce and Supplies has implemented the Export Subsidy Procedure 2079 in order to provide subsidy up to 8 percent on exports as per the provision in the budget of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new procedure has provision to provide 8 percent cash subsidy to a company which exports goods worth more than Rs 500 million in a year. However, the cash subsidy will be provided on the basis of the amount that exceeds the threshold of Rs 500 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In 2018, the ministry made a list of 26 items that are entitled to receive export subsidies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">After amending the procedure, clinker, cement, steel, coal, resins and turpentine, plywood, tiger grass, fruits and dairy products (milk, cheese, cottage cheese, hardened cheese and fat) have been included in the list.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry will provide 5 percent subsidy for the export of handicraft products, processed and unprocessed herbs, turmeric, fresh vegetables, flowers, cardamom, ginger. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Likewise, the government will give 4 percent cash subsidy for the export of clinker, cement, steel, resin and turpentine, plywood, tiger grass, fruit and dairy products (milk, cheese, cottage cheese, hard cheese and fat), and pashmina.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy for this group was increased to 4 percent from 3 percent</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the procedure, the subsidy received by the exporter should be spent in the field of international market promotion, technology and capacity development, and e-commerce. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The subsidy will be increased by 1 percentage point if the goods exported from Nepal are exported with a collective trademark. If the export shows 20 percent increase as compared to previous year, another 1 percentage point will be added to the subsidy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15905', 'image' => '20221017021023_export.jpg', 'article_date' => '2022-10-17 14:09:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
