August 10: The Commission for the Investigation of Abuse of Authority (CIAA) has filed five cases of corruption in the special court in a single…
August 10: The Commission for the Investigation of Abuse of Authority (CIAA) has filed five cases of corruption in the special court in a single…
August 10: As the savings and credit cooperatives under increasing pressure due to liquidity crisis, the operators of the cooperatives have been pressing increase in reference interest rate of the…
August 10: The CNI Jobs and Skills Fair-2022 is all set to be organized in Kathmandu from November 3 to 20, with the participation of 200 companies of national and international…
August 10: Surya Nepal Private Limited has emerged as the highest taxpayer during the last fiscal year.…
August 9: COVID-19 is on the rise in the country with the increasing number of new cases reported since the past few weeks.…
August 9: Bank deposits have continued to decline in the first week of August.…
August 9: The government, in the current fiscal year’s budget, has stated that the Hetauda Textile Industry will be brought into operation in a suitable…
August 9: Finance Minister Janardan Sharma has made it clear that the proposal to increase the salary of some civil servants above the rate announced in the budget will not be…
August 9: The management of biodegradable wastes in Kathmandu Valley is believed to be no longer a pressing problem as garbage management is to begin from mid-August this…
August 9: A delegation of Nepal-USA Chamber of Commerce and Industry (NUSACCI) led by its President Kiran P Saakha paid a courtesy call to Prime Minister Sher Bahadur Deuba at his official residence in Baluwatar…
August 8: India's goods and services tax (GST) will no longer be levied on transit cargo shipments from Nepal to third countries via India.…
August 8: The International Women’s Trade Fair is all set to kick off at the Heritage Garden in Sanepa, Kathmandu on August 18.…
August 8: The Pokhara Regional International Airport will officially come into operation from January 1,…
August 7: The Cathay Pacific Airlines will start operating direct flight between Kathmandu and Hong Kong from October…
August 5: The arrival of Chinese tourists, which had come to a standstill after the outbreak of coronavirus, has been encouraging in recent…
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former non gazette officer of the District Development Committee Office, Kalikot Raj Bahadur Bam; former Local Adaptation Plan for Action (LAPA) Programme Coordinator of District Development Committee Kalikot Kamal Prasad Khanal; Building Construction Consumer Committee Officer of Allo Bhango Processing Center, Kalikot and former technician of the ,Agriculture Development Office Kalikot Paras Ratna Prasad Pandey, separately. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the anti-graft body, the CIAA filed the case against seven people, including Bharat Bahadur Budha Thapa, a forest officer of Division Forest Office, Mugu after they were found involved in embezzling funds during the construction of a tourist trail from Chankheli Himal to Dudhtal under Mugu's Chayanath Rara Municipality-14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The case against Ratna Prasad Pandey, the then technical assistant of Kalikot, who is now the official of Guthichour Rural Municipality, Jumla, was registered for his role in embezzling government and public property during the agricultural training programme conducted by the District Agricultural Development Office, Kalikot in the fiscal year 2013/14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A case has also been registered against the Consumers Construction Committee and its office bearers including President Nanda Prasad Pandey, Secretary Narendra Prasad Pandey and Treasurer Binita Rana Pandey for embezzling funds by creating fake bills for the construction of Allo Bhango Processing Center in Kalikot in the fiscal year 2013/14. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The commission has registered a case in the special court against the then non-gazetted officer Raj Bahadur Bam of Kalikot who was involved in fraudulent activities in the purchase of sewing machines and transportation of the goods in the programme under the Under Privileged Upliftment Development Committee run in Kalikot during the fiscal year 2013/14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The authority filed the case against Kamal Prasad Khanal, former LAPA Programme Coordinator of the District Development Committee, Kalikot, on the charge that he had made a hoarding board for propaganda purpose under the Nepal Climate Change Assistance Program in FY 2013/14, by including it in a fake payment scheme.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15511', 'image' => '20220810034944_1660084065.Clipboard22.jpg', 'article_date' => '2022-08-10 15:49:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15769', 'article_category_id' => '1', 'title' => 'Cooperatives Under Pressure to Increase Interest Rates', 'sub_title' => '', 'summary' => 'August 10: As the savings and credit cooperatives under increasing pressure due to liquidity crisis, the operators of the cooperatives have been pressing increase in reference interest rate of the cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 10: As the savings and credit cooperatives under increasing pressure due to liquidity crisis, the operators of the cooperatives have been pressing increase in reference interest rate of the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The cooperatives have been demanding a review of the reference interest rate, saying that after the banks and financial institutions increased the interest, the deposits started moving from the cooperatives to the banks. The Federal Cooperative Department has been applying a reference interest rate of 16 percent on cooperatives since February 27. The interest rate fixed four months ago is not relevant in the market and the cooperatives have launched a campaign demanded its review.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Paritosh Paudyal, president of Nepal Federation of Savings Credit Cooperative Unions Ltd (NEFSCUN), said that as banks and financial institutions are paying high interest on deposits due to lack of liquidity, the reference interest rate of cooperatives should also be changed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> “The interest rate of banks has reached as much as 19 percent at present. If the reference interest rate of cooperatives is not reviewed in time, it may create a situation where cooperatives might have to violate it,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In February, the reference interest rate determination committee meeting decided to hold a meeting every 4 months and review it. However, the meeting of the committee has not been held even after 4 months after the implementation of the interest rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Om Devi Malla, Senior Vice President of the National Cooperative Federation and member of the Interest Rate Recommendation Committee said that the department is reluctant to hold a meeting of the committee. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“We requested the registrar to call a meeting according to the decision of the committee. However, the registrar refused to call the meeting stating that the minister does not think the interest rate should be increased,” she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Some time ago, Minister for Land Management, Cooperatives and Poverty Alleviation Shashi Shrestha said during a public programme that the reference interest rate should not be increased under any circumstances.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Amid increasing pressure to revise the interest rate, the department formed a technical committee under the coordination of Deputy-Registrar Tolraj Upadhyay. General Manager of National Cooperative Federation Chitra Kumari Subba, Chief Executive Officer of National Cooperative Bank Badri Kumar Guragain and Chief Executive Officer of NEFSCUN Prakash Prasad Pokharel are members of the committee. Department sources say that the committee is ready to hold a meeting only after the technical committee submits its report.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After the reference interest rate was not reviewed earlier in February, the cooperatives under the leadership of the Federation of Cooperatives staged a sit-in protest at the department.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In order to manage the interest rate of the cooperatives, the Cooperatives Act 2074 has a provision for the reference interest rate. According to section 51 of the Act, there will be an arrangement for representative members of the Ministry of Cooperatives, Ministry of Finance, Nepal Rastra Bank, National Cooperative Development Board, Federation of Cooperatives and Subject Cooperative Associations under the coordination of the Federal Registrar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of the Cooperative Act and Regulations, there is a provision to determine the reference interest rate for cooperatives based on the average interest of commercial banks, the average interest of savings and credit cooperatives, and the average interest of cooperative banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the reference interest rate is the maximum limit for the interest on loan investment of cooperatives, it has not been effectively implemented. However, due to lack of liquidity, institutions operating in urban areas are charging higher interest rates than the fixed rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Minraj Kandel, president of the National Cooperative Federation said that the problem of liquidity increased due to the increase in the number of people demanding the return of savings in some cooperatives. He added that in this situation, it is necessary to increase the reference interest rate in order to increase the deposit interest rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, in an appeal issued last Sunday, the Federation of Cooperatives also demanded to review the reference rate saying that the limit has caused difficulties to the cooperatives. Similarly, the Federation has been advocating for a system of automatic interest rate of the cooperative based on the market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15510', 'image' => '20220810012446_1660107399.Sahakari 12.jpeg', 'article_date' => '2022-08-10 13:24:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15768', 'article_category_id' => '1', 'title' => 'CNI Jobs and Skills Fair 2022 in November', 'sub_title' => '', 'summary' => 'August 10: The CNI Jobs and Skills Fair-2022 is all set to be organized in Kathmandu from November 3 to 20, with the participation of 200 companies of national and international level.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 10: The CNI Jobs and Skills Fair-2022 is all set to be organized in Kathmandu from November 3 to 20, with the participation of 200 companies of national and international level. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The aim of organizing the fair is to reduce the gap between the availability of skills in the market, the employers and the unemployed with skill and to make direct contact with the companies, informed the Confederation of Nepalese Industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Organising a press conference in Kathmandu on Tuesday, CNI said that the fair will help in reducing the situation where employers are not able to find skilled manpower, but young people who have learned skills are unemployed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As per CNI, at least 500,000 people seek for employment in the country each year. Even though companies demand employees from drivers to management level, there is no clear connection between employers and job seekers. The aim of the fair is to improve this situation, said CNI. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the press meet, CNI Vice President Krishna Prasad Adhikari said that there will be coordination between job seekers and employers. According to Adhilari, CNI will also launch an "app" with the aim of making it easier to find jobs by establishing direct contact with the companies participating in the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“The fair is not organized to give out jobs. Rather, it is organized to act as a bridge between the gap between employment and skills,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Stating that this is the first attempt of the confederation, he said that it is time to pay attention to education criteria to meet the demand for the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Rajesh Agarwal, vice president of the federation said that the fair is also necessary to develop the issues of education, employment and skills as a national debate. He informed that although the CNI is organizing such a fair for the first time in Kathmandu, it will also be held at the state level in the future. He said that an app will be created for contacting the companies that came to the fair and those who need employment can register and apply for employment through the same app.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI also informed that there will be a comprehensive discussion on the needs of employers and meeting the demands of skilled employees. Twiraj Sharma, coordinator of the fair said that companies from India like Tata and other countries will be invited to participate as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The confederation is going to study the job situation and demand before the fair, especially by studying the information technology, hospitality and agriculture sectors. The confederation expects to achieve success in identifying the need for policy and curriculum to create world-class manpower in Nepal through the fair. There will be a comprehensive discussion on skill development, presentations from national and international experts and discussions and contacts with companies for work. Organizers estimate that more than 50,000 people will attend the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15509', 'image' => '20220810010916_cni.jpg', 'article_date' => '2022-08-10 13:07:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15767', 'article_category_id' => '1', 'title' => 'Surya Nepal, the Highest Taxpayer in FY 2021/22', 'sub_title' => '', 'summary' => 'August 10: Surya Nepal Private Limited has emerged as the highest taxpayer during the last fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 10: Surya Nepal Private Limited has emerged as the highest taxpayer during the last fiscal year. According to the Large Taxpayers Office (LTO), the company paid taxes worth Rs 10.72 billion during FY 2021/22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The LTO informed that the amount includes Value Added Tax (VAT), income tax and all other taxes liable to the government. Surya Nepal Private Limited has been operating since 1986. Indian company ITC holds the largest amount of share of Surya Nepal. The Indian company holds 59 percent share while a Nepali company and individuals hold 39 percent share. Similarly, the British American Tobacco Limited holds the remaining two percent shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Surya Nepal has been producing cigarettes as well as match sticks, incense sticks and chocolates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Telecommunication Company Limited was the second highest tax payer during the review period. The Government of Nepal holds 91.49 percent shares in the company. The NTC was established 1975 and was registered as Nepal Telecom Company on February 5, 2004. Nepal Telecom paid taxes worth Rs 9.72 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Ncell Axiata Limited, a private sector telecommunication company operating in Nepal, finished third among the top taxpayers. Ncell paid taxes worth Rs 7.79 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gorkha Brewry, which produces beers like Gorkha, Carlsberg, Sanmiguel, and Somersby, was the fourth largest taxpayer during the review period for paying taxes worth Rs 5.69 billion followed by the state-owned Nepal Electricity Authority (Rs 3.95 billion). The NEA purchases electricity produced by state-owned projects as well as private sector and distributes it to the public. It also sells electricity to India when there is surplus production and imports electricity from the neighbouring country during scarcity.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, NIC Asia Bank ranks sixth among the highest taxpayers. The bank paid taxes worth Rs 3.41 billion followed by seventh-placed Nabil Bank (Rs 3.32 billion ), Global IME Bank (Rs 3.21 billion ), Siddhartha Bank (Rs 2.77 billion ), and Rastriya Banijya Bank (Rs 2.65 billion). </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15508', 'image' => '20220810121442_taxxxx.jpg', 'article_date' => '2022-08-10 12:13:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15766', 'article_category_id' => '1', 'title' => ''Increasing COVID-19 Cases Signals Fourth Wave' ', 'sub_title' => '', 'summary' => 'August 9: COVID-19 is on the rise in the country with the increasing number of new cases reported since the past few weeks. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 9: COVID-19 is on the rise in the country with the increasing number of new cases reported since the past few weeks. The surge in the infection rate follows increasing cases in neighbouring India, with easy cross border mobility of people due to the open border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The country has already reported Omicron's sub-variant, BA.5 and its transmission rate is much higher, thus contributing to the surge, according to health workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, the infection rate was over 15 percent against 0.5 percent some weeks earlier. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The infection statistics indicate the occurrence of the fourth wave, according to Dr Samir Kumar Adhikari, joint spokesperson for the Ministry of Health and Population. The government does not officially announce the wave as the statistics themselves suggest it, he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"In the past too, we did not announce any wave. Neither will we do so this time. But the caseload have indicated another wave." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Khageshwor Gelal, senior health administrator at the Epidemiology and Disease Control Division under the Department of Health Services and public health expert Dr Sagar Raj Bhandari concurred with Dr Adhikari on the indication of the occurrence of the fourth wave. "The government does not officially announce the manifestation of the virus. But, hundreds of infection cases taking place in recent days indicate the occurrence of the fourth wave," said Dr Gelal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Infection rate rising above five percent is considered to be another wave, said Dr Bhandari, adding that "the figure at present has been around 15 percent." In general, the rate goes down only after getting to its peak, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although BA.5 sub-variant is transmitted rapidly, it does not turn out to be serious, he said. He urged all people to follow the health protocols and get administered fourth dose of the vaccine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, in view of the latest infection risks, the ministry has directed health institutions and concerned authorities to manage early treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seventeen hospitals across the country have been designated to provide treatment to infected people. Likewise, the government has asked people to follow health protocols like compulsorily wearing facemasks and using sanitizers and not attending and hosting gatherings. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the virus-related deaths that took place lately, 80 percent were found in those who had not taken the COVID-19 vaccine, said Dr Gelal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15507', 'image' => '20220809054110_CnyztpE007017_20210819_PEPFN1A001.JPG', 'article_date' => '2022-08-09 17:40:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15764', 'article_category_id' => '1', 'title' => 'Banks Increasing Credit Flow Despite Decline in Deposits', 'sub_title' => '', 'summary' => 'August 9: Bank deposits have continued to decline in the first week of August. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 9: Bank deposits have continued to decline in the first week of August. Although the banks faced a setback in deposit collection, they have increased credit flow during this period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data provided by the Nepal Bankers Association, the deposit collection of banks declined by Rs 4 billion during the first week of August. Deposit collection of banks had declined by Rs 64 billion in the third week of July and by Rs 28 in the fourth week of July. It means that the deposit collection of banks has declined by Rs 96 billion so far in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total deposits of banks by the end of the last fiscal year stood at Rs 4541 billion. It has now decreased to Rs 4446 billion as of August 5. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson of Nepal Rastra Bank Dr Gunakar Bhatta says that the banking system witnessed withdrawal of cash in large amount as the Nepal Oil Corporation paid its long-standing dues to the Indian Oil Corporation during the beginning of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the deposits of banks also declined towards the end of the last fiscal year as the cheques issued by the government were withdrawn during that period, says Bhatta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the bank deposits have declined, credit flow has increased during the same period. Initially, the banks had reduced credit flow in the first week two weeks of the current fiscal year but have increased credit flow by Rs 2 billion in August.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The credit flow of banks had declined by Rs 10 billion in the third week of July and by Rs 1 billion in the fourth week of July. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total credit flow of banks as of August 5 stands at Rs 4166 billion. The credit flow of banks was Rs 4175 by the end of the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks had been tightening credit flow and focusing on deposit collection due to liquidity crisis. This had helped the banks to maintain the CD ratio as prescribed by the central bank. As of August 5, the average CD ratio of banks stands at 87.69 percent, according to Nepal Bankers Association.</span></span></p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => 'banks, credit, flow, deposit, collection, liquidity crisis, Nepal, Rastra, Bank', 'description' => '', 'sortorder' => '15505', 'image' => '20220809051625_Banks - Copy.jpg', 'article_date' => '2022-08-09 17:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15763', 'article_category_id' => '1', 'title' => 'Government Fails to Execute its Plan to Reopen Problematic Industries', 'sub_title' => '', 'summary' => 'August 9: The government, in the current fiscal year’s budget, has stated that the Hetauda Textile Industry will be brought into operation in a suitable format.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 9: The government, in the current fiscal year’s budget, has stated that the Hetauda Textile Industry will be brought into operation in a suitable format. Arrangements will be made for people holding public positions to wear clothes produced by the Hetauda Textile Industry.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the budget statement of the last fiscal year too, it was also mentioned that proposals will be invited to run the Hetauda Textile Industry in partnership with the private sector. However, both these announcements are not new. The government made efforts to run this industry in the fiscal year 2008/09. However, the government backed off from its plan to operate the industry citing reasons including lack of money to import cotton.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After four years of attempt to run the industry, the cabinet meeting on January 15, 2013 decided to halt the plan to reopen Hetauda Textile Industry Limited. For the last few years, the government has again pledged to reopen the textile industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government, despite failing to reopen the industry for more than a decade, now has announced that it will operate the textile industry in an appropriate format this year and make arrangements for civil servants to use the clothes produced by the same industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">It is speculated that the latest announcement will also be limited to the papers as the announcement was made without adequate preparation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the government has announced to open the industry which has remained closed since the last two decades (2000), the Ministry of Industry, Commerce and Supplies and the Industrial Area Management Limited (IDM) are not much active in terms of operational modality, technology and investment required for the industry. The Ministry of Industry had entrusted the project to IDM.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government's share of investment in IDM is expected to come from the assessment of the building and other physical infrastructure of the industry. Even though the industry was handed over to IDM for almost a decade with the government's shares intact, the IDM has not tried to revive the industry. Instead, the IDM is involved in expanding and announcing new industrial areas. The government had formed study committees at different times to operate the ailing industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Former Secretary Deepak Subedi, who is also the coordinator of the study committee formed two years ago, says that the Hetauda Textile Industry can be operated. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">"You don't need to do much for this. If you fulfil an handful of works, you can run the industry in a way that makes a profit," said Subedi adding, "The latest technology and equipment, good management system, and experienced people will be enough to run the industry rather than political appointments."</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15504', 'image' => '20220809032202_budget new.jpg', 'article_date' => '2022-08-09 15:21:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15762', 'article_category_id' => '1', 'title' => 'Salary Hike won’t Exceed 15 Percent: Finance Minister', 'sub_title' => '', 'summary' => 'August 9: Finance Minister Janardan Sharma has made it clear that the proposal to increase the salary of some civil servants above the rate announced in the budget will not be implemented.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 9: Finance Minister Janardan Sharma has made it clear that the proposal to increase the salary of some civil servants above the rate announced in the budget will not be implemented. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Sharma gave such an assurance during a meeting with the gazetted officers who are protesting against the attempt to increase salaries in an unfair manner against the provisions of the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Krishna Hari Pushkar, secretary at the finance ministry, had even prepared a draft to present it to the Council of Ministers to increase the salary of some gazetted employees by 24.26 percent, stating that the salary scale would be maintained according to the merit order. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Finance Minister Sharma had announced an increment of just 15 percent in the salaries of all civil servants, army, police, teachers, etc., effective from July 17, during his budget speech on May 29.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The top officials of Finance ministry tried to increase the salary of the gazetted officers at a higher rate than the one announced in the budget while disregarding the instructions of the parliamentary committee. On July 31, the Industry and Commerce and Labor and Consumer Welfare Committee of the Parliament gave instructions to determine the salaries of civil servants according to the order of merit. At present, the salary scale of army and police officers is higher than that of civil servants of the same rank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The gazetted employees, who were angry with the proposal of increasing salary in an unfair manner, met the finance minister on Monday and pressured him to correct it. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Gopal Pokharel, president of Nepal Civil Service Employee’s Association (NECSEA) informed that Sharma expressed commitment that he will increase the salary according to the budget speech for the time being and settle the unresolved issues by forming a “Pay Commission” as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Along with Pokharel, Lekhnath Koirala, president of Civil Service Organization, Hari Bahadur Rawal, president of National Employees Organization, Nepal, Bhuvaneshwar Chaudhary, president of Madhesi Employees Organization, Mohan Ghimire, president of Integrated Government Employees Organization had met Finance Minister Sharma on Monday to discuss this issue.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Rawal, President of National Employees Organization, Nepal informed that Minister Sharma will now implement a 15 percent salary increase. According to Rawal, Minister Sharma has promised to settle issues including the order of merit within and outside the civil service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">If the proposal of the finance ministry is passed, a section officer will get an increment of 24.26 percent, under secretary 23.35 percent, joint secretary 23.63 percent and secretary 18.41 percent on their salary effective from mid-July. The salary of employees below the non-gazetted first class officer however will increase by just 15 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The non-gazetted first class employees working in Singha Durbar gathered at the Ministry of Finance on Monday and opposed the proposal. The Civil Servants Association Nepal warned that the non-gazetted first class employees of the whole country will be on holiday on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15503', 'image' => '20220809013331_fin sharma.jpg', 'article_date' => '2022-08-09 13:32:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15761', 'article_category_id' => '1', 'title' => 'Solution-Oriented Garbage Management Turning Kathmandu Valley's Trash into Cash ', 'sub_title' => '', 'summary' => 'August 9: The management of biodegradable wastes in Kathmandu Valley is believed to be no longer a pressing problem as garbage management is to begin from mid-August this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 9: The management of biodegradable wastes in Kathmandu Valley is believed to be no longer a pressing problem as garbage management is to begin from mid-August this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Identification of a place at Kirtipur in Kathmandu Valley to manage such garbage is likely to offer a viable solution to the valley's pertinent problems. Around 50 ropanis of land has been obtained by the Kathmandu Metropolitan City (KMC) for garbage management. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Initially, around 40,000 kilograms of recyclable wastes would be collected from eight wards of KMC and those would be turned into manure at this site and then sold at subsidized rate. KMC is also keeping an eye out for other viable sites for this purpose. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis had been dumping all sort of garbage in Bancharedanda and Sisdol in Nuwakot district for nearly a decade and half. The garbage management faced obstructions time and again during this period. The KMC recently identified Kirtipur's site for sustainable and effective management of wastes, especially the compostable ones. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The KMC decided that it will no longer dump harmful garbage in Bancharedanda.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nabin Manandhar, spokesperson for the KMC, shared that a team led by KMC mayor Balendra Shah was hunting more prospective sites in and around Chandragiri, Dakshinkali, Nagarjuna, Tarkeshwar and Banepa (outside the valley) to continue the waste management bid. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The sites available so far for garbage management span from 50 ropanis to 150. The KMC team is still looking for more suitable and less expensive land for the same, said Manandhar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has already started segregation of biodegradable and non-biodegradable garbage from the source since July 17. The Garbage Management Act-2068 BS has a provision of classification of garbage. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Private Garbage Collectors to be Brought Under the Ambit of Law </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although wastage classification project has been implemented in all 32 wards of the KMC, wastages have been managed by private companies in 23 wards while KMC itself manages wastages in remaining nine major wards. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Locals complained those places where KMC had been managing garbage sees continuation in management while garbage remain to be collected and dumped for nearly two months in those wards managed by private companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dwellers in those wards complained that the private sector was engaged in money-making only rather than delivering service. The irresponsibleness towards the public had led to irregular garbage management in those wards, the locals in those wards said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The local level administration in those wards have been warning the private companies of action if they do not collect the garbage from the designated places. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Lalitpur metropolis mayor Chiribabu Maharjan pressed an idea of managing waste within the local government where it is produced. "Attention of the federal government is required for this," he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The roles and responsibilities, modality of coordination among the federal, province and local governments, framework of joint-investment and the ways of managing household, institutional, industrial, electric and post-disaster wastes should be clearly mentioned in the laws, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chandragiri municipality mayor Ghanshyam Giri said the role of Province Government in waste management should be ensured in the law as per the spirit of federalism. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Mayor Giri, level-wise works and responsibilities of the government in production, collection, disposal and the entire management procedures along with their effective implementation should be guaranteed in the new law. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Besides, issues concerning environmental pollution from waste and its negative implications on public health, the responsibilities of three-tier government in waste management, inter-local-level coordination and the utilization of waste as means of economic gains should be the priorities ahead, according to chiefs of other local governments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Alternative Route to Landfill Site </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Process has begun to identify and establish a route to the Bancharedanda landfill site as an alternative to the regular route which gets disrupted by monsoon rains each year, posing challenges to the transport of waste. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The work in this regard has begun in cooperation among the KMC and other 17 local governments in the Kathmandu Valley. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is said the section from Mudkhukhola to Bancharendanda remains disrupted by rains for several weeks, causing challenges in the waste management. A gravel road at Mudkhukhola serving as an alternative access to Bancharedanda is likely to be upgraded soon and the KMC has allocated Rs two million for this project in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A minimum of 200 vehicles transport the garbage managed by the private sector and the KMC daily. Only 150 vehicles are transporting the waste to the dumping site at present due to the ongoing road repair works. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Waste Management</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The waste generated in Kathmandu Valley is being dumped at Sisdol of Kakani Rural Municipality in Nuwakot since 2005, although it was meant to be dumped for two years initially. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">One thousand two hundred metric tonnes of waste is being managed at Sisdol each day. Out of this amount of waste, Kathmandu metropolis alone contributes the highest amount of 500 metric tonnes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that forty per cent of the waste produced in the valley can be managed. Every local level ward is said to be preparing to purchase the materials that can be reused for this purpose. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Experts have suggested segregating the waste into biodegradable and non-degradable at its source itself, reducing the production of waste, using linen or jute bags as an alternative to plastic bag, promotion of 'zero waste' concept and using modern technology in waste management for addressing this perennial problem of managing the solid waste in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => 'waste, management, Kathmandu, Valley, Kirtipur, Sisdole, landfill site, bio, degradable, Balen, Shah', 'description' => '', 'sortorder' => '15502', 'image' => '20220809115231_Kathmandu Valley.jpg', 'article_date' => '2022-08-09 11:51:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15760', 'article_category_id' => '1', 'title' => 'Nepal-USA Chamber of Commerce discusses Trade and Investment with PM Deuba', 'sub_title' => '', 'summary' => 'August 9: A delegation of Nepal-USA Chamber of Commerce and Industry (NUSACCI) led by its President Kiran P Saakha paid a courtesy call to Prime Minister Sher Bahadur Deuba at his official residence in Baluwatar recently.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">August 9: A delegation of Nepal-USA Chamber of Commerce and Industry (NUSACCI) led by its President Kiran P Saakha paid a courtesy call to Prime Minister Sher Bahadur Deuba at his official residence in Baluwatar recently. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting on August 6 was arranged introduce the newly elected NUSACCI executive board members to the prime minister. During the occasion, the delegation also briefed the PM about the activities undertaken by NUSACCI as well as various issues related to Nepal-USA trade and investment.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Issuing a statement, NUSACCI said that Saakha extended sincere thanks and gratitude to Prime Minister Deuba for giving his valuable time to meet the NUSACCI delegation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the meeting, Saakh said that the NUSACCI was a bilateral chamber with over 28 years of existence and also briefed the role played by NUSACCI for strengthening bilateral ties between the two countries in the areas of trade and investment and its stance on early ratification of MCC by parliament.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The USA is one of the major trading partners of Nepal, said the statement, adding that Nepal’s trade balance with the USA was in a deficit since a couple of years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NUSACCI informed that the major share of Nepal export to USA comprises carpet followed by felt and cat and dog food. In view of this, the delegation stressed on an urgent need for the promotion of carpet, readymade garments and pashmina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Saakha said that NUSACCI is always ready to collaborate with the Government of Nepal for promotional activities to boost export to the USA. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another major issue discussed during the meeting was the Trade and Investment Framework Agreement (TIFA) with the USA done in 2011 under which there is a provision of technical assistance but the private sector is not getting the benefit as envisaged in the agreement, the statement added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal is enjoying duty free entry of 77 goods to the USA. “In fact, 5 items categorically cover 77 different HS code items,” the statement further said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Other issues discussed during the courtesy visit included the importance of compensation law, Intellectual Property Right (IPR), attracting American investment in the hydropower sector, promotional activities for export in collaboration with GON. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the meeting, NUSACCI General Secretary Prof Dr Gandhi Pandit said that legal regime and enabling environment play a crucial role in attracting American investment in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting was also attended by NUSACCI board members Brindaban Man Pradhanang, Rajani Rana and Sunil Rajbhandari.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15501', 'image' => '20220809112320_ROS_KTM_6487327.jpg', 'article_date' => '2022-08-09 11:22:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15759', 'article_category_id' => '1', 'title' => 'India not to Levy GST on Transit Cargo from Nepal', 'sub_title' => '', 'summary' => 'August 8: India's goods and services tax (GST) will no longer be levied on transit cargo shipments from Nepal to third countries via India. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: India's goods and services tax (GST) will no longer be levied on transit cargo shipments from Nepal to third countries via India. Until now, only the shipments entering Nepal were exempt of GST. However, the shipping companies used to charge GST on products exported from Nepal at Kolkata, Haldia and Visakhapatnam ports of India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In September 2017, India had issued a notice to concerned bodies not to collect GST on cargo entering Nepal. Since the notification did not say anything about the shipment going out from Nepal, the service providers were charging GST on the goods exported from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Goods and services exported from India to Nepal are also exempt from this tax. The revenue department under the Ministry of Finance of India, in a notice issued on August 3, has made it clear that GST will not be charged on both transit cargo going to and coming out from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After the notice issued of the department, now the shipping companies will not be allowed to collect GST on all container shipments returning from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Industry, Commerce and Supplies had taken the initiative with the concerned bodies of India to remove such taxes. Last month, Commerce Secretary Ganesh Prasad Pandey requested the Indian authorities to remove GST on transit cargo from Nepal to third countries. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Ravi Shankar Sainju, former joint secretary of the ministry, said that this arrangement will have more beneficial for the exporters of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“In the provision made by the GST Council five years ago, it was not clear about the cargo going out through Nepal. Taking advantage of this loophole, they were collecting taxes on the export and empty containers,” said Sainju. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Naresh Agarwal, vice president of Nepal Freight Forwarders Association, said that since GST is charged in the name of various services in Indian ports on containers that have gone from Nepal, now that amount will be saved. “This is a positive aspect of Nepal's overseas trade. This will reduce the cost of doing business,” Agarwal said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15500', 'image' => '20220808041057_1631664081.Clipboard03.jpg', 'article_date' => '2022-08-08 16:10:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15756', 'article_category_id' => '1', 'title' => 'International Women's Trade Fair from August 18', 'sub_title' => '', 'summary' => 'August 8: The International Women’s Trade Fair is all set to kick off at the Heritage Garden in Sanepa, Kathmandu on August 18. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: The International Women’s Trade Fair is all set to kick off at the Heritage Garden in Sanepa, Kathmandu on August 18. The four-day event will conclude on August 22. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The trade fair is going to be organized by the Federation of Women Entrepreneurs’ Association of Nepal (FWEAN).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FWEAN held a press conference on Sunday, August 7 and informed that women entrepreneurs associated with small and medium-scale industries all over the country, traders, and women exporters as well as women entrepreneurs from international countries will participate in the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a fair is being organized for the social and economic empowerment of women. This fair is the sixth edition of the International Women's Trade Fair, which will be inaugurated by Prime Minister Sher Bahadur Deuba. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the organizers, the marketing of the products produced using local tools and resources in Nepal will get exposure to national and international levels through this fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In addition, certificates of excellence in various categories will be awarded as incentives to women entrepreneurs participating in the fair from various districts. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation is also scheduled to organize a one-day conference on August 19 titled 'Building a Sustainable Business to Empower Women'.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15497', 'image' => '20220808124809_fair.jpg', 'article_date' => '2022-08-08 12:47:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15755', 'article_category_id' => '1', 'title' => 'Pokhara Regional Int'l Airport to Operate from January 1, 2023 ', 'sub_title' => '', 'summary' => 'August 8: The Pokhara Regional International Airport will officially come into operation from January 1, 2023.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 8: The Pokhara Regional International Airport will officially come into operation from January 1, 2023. </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 meeting of the board of directors of the Civil Aviation Authority of Nepal (CAAN) on Sunday took a decision to this effect, said CAAN Spokesperson Jagannath Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project worth Rs 22 billion has achieved completion of 98 percent of the construction works so far, he said, adding that a calibration flight would take place in upcoming October. The project that directly connects the major tourist destination, Pokhara, with the globe through international flights spans over 200 hectares of lands. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15496', 'image' => '20220808115737_Pokhara-Airport-800X533.jpg', 'article_date' => '2022-08-08 11:56:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15754', 'article_category_id' => '1', 'title' => 'Cathay Pacific to Operate Hong Kong-Kathmandu Flights from October 1 ', 'sub_title' => '', 'summary' => 'August 7: The Cathay Pacific Airlines will start operating direct flight between Kathmandu and Hong Kong from October 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 7: The Cathay Pacific Airlines will start operating direct flight between Kathmandu and Hong Kong from October 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flag carrier of Hong Kong has obtained permit from the Civil Aviation Authority of Nepal (CAAN) to conduct one flight in a week between Kathmandu and Hong Kong on Saturday, informed CAAN's spokesperson Jagannath Niruala. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Niraula, the airline company has already completed all the process to operate direct flights. The airlines has requested for 12 noon to 1:00 pm's slot while the CAAN is mulling to provide the slot after 8:00 pm, he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, Nepal Airlines has been operating flights from Kathmandu to Hong Kong and vice versa. Hong Kong is considered an important aviation destination due to dominance of Nepali diaspora there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, a total of 26 international airlines including two Nepali companies have been operating international flights to and from the Tribhuvan International Airport at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to COVID-19 pandemic, 30 nations operating flights had been operating flights to and from the TIA but now only 21 nations operate flights. Currently, an average of 70 flights are being operated to and from TIA on a daily basis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has inked aviation agreement with 40 countries so far. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-07', 'modified' => '2022-08-07', 'keywords' => 'flight, Kathmandu, Hong Kong, Cathay, Pacific, airlines, CAAN, TIA', 'description' => '', 'sortorder' => '15495', 'image' => '20220807094102_Cathay-Pacific-Aircraft-e1557145681253-752x348.jpg', 'article_date' => '2022-08-07 09:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15752', 'article_category_id' => '1', 'title' => 'Arrival of Chinese Tourists Improving', 'sub_title' => '', 'summary' => 'August 5: The arrival of Chinese tourists, which had come to a standstill after the outbreak of coronavirus, has been encouraging in recent months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 5: The arrival of Chinese tourists, which had come to a standstill after the outbreak of coronavirus, has been encouraging in recent months. The arrival of Chinese tourists increased by 250 percent in July compared to June. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Immigration, a total of 451 Chinese tourists arrived in Nepal in June, which increased to 1, 593 in July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before the start of the pandemic, altogether 10, 808 Chinese tourists had arrived in Nepal in July 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The arrival of Chinese tourists has increased after China eased the restrictions imposed to curb the viral outbreak. However, China is still enforcing lockdown in some of its cities. According to media reports, lockdown is still in place in China’s southern city of Sanya and Wuhan, the origin of coronavirus. But the lockdown is not as strict as it was before as most of the Chinese citizens have been vaccinated against the virus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chinese and Indian tourists form the backbone of Nepal’s tourism industry. The two countries are also the most populous countries in the world. China’s population is more than one billion and India’s population is a little less. Indian tourists do not require any visa to visit Nepal. Hundreds of thousands of tourists from the two countries travel worldwide every year. Nepal’s tourism sector can benefit a lot if it can tap in the potential of Indian and Chinese tourists.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-05', 'modified' => '2022-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '15493', 'image' => '20220805035319_1659677829.296610149_625118472144142_1629395372382313309_n.jpg', 'article_date' => '2022-08-05 15:52:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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former non gazette officer of the District Development Committee Office, Kalikot Raj Bahadur Bam; former Local Adaptation Plan for Action (LAPA) Programme Coordinator of District Development Committee Kalikot Kamal Prasad Khanal; Building Construction Consumer Committee Officer of Allo Bhango Processing Center, Kalikot and former technician of the ,Agriculture Development Office Kalikot Paras Ratna Prasad Pandey, separately. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the anti-graft body, the CIAA filed the case against seven people, including Bharat Bahadur Budha Thapa, a forest officer of Division Forest Office, Mugu after they were found involved in embezzling funds during the construction of a tourist trail from Chankheli Himal to Dudhtal under Mugu's Chayanath Rara Municipality-14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The case against Ratna Prasad Pandey, the then technical assistant of Kalikot, who is now the official of Guthichour Rural Municipality, Jumla, was registered for his role in embezzling government and public property during the agricultural training programme conducted by the District Agricultural Development Office, Kalikot in the fiscal year 2013/14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A case has also been registered against the Consumers Construction Committee and its office bearers including President Nanda Prasad Pandey, Secretary Narendra Prasad Pandey and Treasurer Binita Rana Pandey for embezzling funds by creating fake bills for the construction of Allo Bhango Processing Center in Kalikot in the fiscal year 2013/14. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The commission has registered a case in the special court against the then non-gazetted officer Raj Bahadur Bam of Kalikot who was involved in fraudulent activities in the purchase of sewing machines and transportation of the goods in the programme under the Under Privileged Upliftment Development Committee run in Kalikot during the fiscal year 2013/14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The authority filed the case against Kamal Prasad Khanal, former LAPA Programme Coordinator of the District Development Committee, Kalikot, on the charge that he had made a hoarding board for propaganda purpose under the Nepal Climate Change Assistance Program in FY 2013/14, by including it in a fake payment scheme.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15511', 'image' => '20220810034944_1660084065.Clipboard22.jpg', 'article_date' => '2022-08-10 15:49:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15769', 'article_category_id' => '1', 'title' => 'Cooperatives Under Pressure to Increase Interest Rates', 'sub_title' => '', 'summary' => 'August 10: As the savings and credit cooperatives under increasing pressure due to liquidity crisis, the operators of the cooperatives have been pressing increase in reference interest rate of the cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 10: As the savings and credit cooperatives under increasing pressure due to liquidity crisis, the operators of the cooperatives have been pressing increase in reference interest rate of the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The cooperatives have been demanding a review of the reference interest rate, saying that after the banks and financial institutions increased the interest, the deposits started moving from the cooperatives to the banks. The Federal Cooperative Department has been applying a reference interest rate of 16 percent on cooperatives since February 27. The interest rate fixed four months ago is not relevant in the market and the cooperatives have launched a campaign demanded its review.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Paritosh Paudyal, president of Nepal Federation of Savings Credit Cooperative Unions Ltd (NEFSCUN), said that as banks and financial institutions are paying high interest on deposits due to lack of liquidity, the reference interest rate of cooperatives should also be changed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> “The interest rate of banks has reached as much as 19 percent at present. If the reference interest rate of cooperatives is not reviewed in time, it may create a situation where cooperatives might have to violate it,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In February, the reference interest rate determination committee meeting decided to hold a meeting every 4 months and review it. However, the meeting of the committee has not been held even after 4 months after the implementation of the interest rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Om Devi Malla, Senior Vice President of the National Cooperative Federation and member of the Interest Rate Recommendation Committee said that the department is reluctant to hold a meeting of the committee. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“We requested the registrar to call a meeting according to the decision of the committee. However, the registrar refused to call the meeting stating that the minister does not think the interest rate should be increased,” she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Some time ago, Minister for Land Management, Cooperatives and Poverty Alleviation Shashi Shrestha said during a public programme that the reference interest rate should not be increased under any circumstances.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Amid increasing pressure to revise the interest rate, the department formed a technical committee under the coordination of Deputy-Registrar Tolraj Upadhyay. General Manager of National Cooperative Federation Chitra Kumari Subba, Chief Executive Officer of National Cooperative Bank Badri Kumar Guragain and Chief Executive Officer of NEFSCUN Prakash Prasad Pokharel are members of the committee. Department sources say that the committee is ready to hold a meeting only after the technical committee submits its report.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After the reference interest rate was not reviewed earlier in February, the cooperatives under the leadership of the Federation of Cooperatives staged a sit-in protest at the department.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In order to manage the interest rate of the cooperatives, the Cooperatives Act 2074 has a provision for the reference interest rate. According to section 51 of the Act, there will be an arrangement for representative members of the Ministry of Cooperatives, Ministry of Finance, Nepal Rastra Bank, National Cooperative Development Board, Federation of Cooperatives and Subject Cooperative Associations under the coordination of the Federal Registrar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of the Cooperative Act and Regulations, there is a provision to determine the reference interest rate for cooperatives based on the average interest of commercial banks, the average interest of savings and credit cooperatives, and the average interest of cooperative banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the reference interest rate is the maximum limit for the interest on loan investment of cooperatives, it has not been effectively implemented. However, due to lack of liquidity, institutions operating in urban areas are charging higher interest rates than the fixed rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Minraj Kandel, president of the National Cooperative Federation said that the problem of liquidity increased due to the increase in the number of people demanding the return of savings in some cooperatives. He added that in this situation, it is necessary to increase the reference interest rate in order to increase the deposit interest rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, in an appeal issued last Sunday, the Federation of Cooperatives also demanded to review the reference rate saying that the limit has caused difficulties to the cooperatives. Similarly, the Federation has been advocating for a system of automatic interest rate of the cooperative based on the market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15510', 'image' => '20220810012446_1660107399.Sahakari 12.jpeg', 'article_date' => '2022-08-10 13:24:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15768', 'article_category_id' => '1', 'title' => 'CNI Jobs and Skills Fair 2022 in November', 'sub_title' => '', 'summary' => 'August 10: The CNI Jobs and Skills Fair-2022 is all set to be organized in Kathmandu from November 3 to 20, with the participation of 200 companies of national and international level.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 10: The CNI Jobs and Skills Fair-2022 is all set to be organized in Kathmandu from November 3 to 20, with the participation of 200 companies of national and international level. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The aim of organizing the fair is to reduce the gap between the availability of skills in the market, the employers and the unemployed with skill and to make direct contact with the companies, informed the Confederation of Nepalese Industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Organising a press conference in Kathmandu on Tuesday, CNI said that the fair will help in reducing the situation where employers are not able to find skilled manpower, but young people who have learned skills are unemployed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As per CNI, at least 500,000 people seek for employment in the country each year. Even though companies demand employees from drivers to management level, there is no clear connection between employers and job seekers. The aim of the fair is to improve this situation, said CNI. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the press meet, CNI Vice President Krishna Prasad Adhikari said that there will be coordination between job seekers and employers. According to Adhilari, CNI will also launch an "app" with the aim of making it easier to find jobs by establishing direct contact with the companies participating in the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“The fair is not organized to give out jobs. Rather, it is organized to act as a bridge between the gap between employment and skills,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Stating that this is the first attempt of the confederation, he said that it is time to pay attention to education criteria to meet the demand for the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Rajesh Agarwal, vice president of the federation said that the fair is also necessary to develop the issues of education, employment and skills as a national debate. He informed that although the CNI is organizing such a fair for the first time in Kathmandu, it will also be held at the state level in the future. He said that an app will be created for contacting the companies that came to the fair and those who need employment can register and apply for employment through the same app.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI also informed that there will be a comprehensive discussion on the needs of employers and meeting the demands of skilled employees. Twiraj Sharma, coordinator of the fair said that companies from India like Tata and other countries will be invited to participate as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The confederation is going to study the job situation and demand before the fair, especially by studying the information technology, hospitality and agriculture sectors. The confederation expects to achieve success in identifying the need for policy and curriculum to create world-class manpower in Nepal through the fair. There will be a comprehensive discussion on skill development, presentations from national and international experts and discussions and contacts with companies for work. Organizers estimate that more than 50,000 people will attend the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15509', 'image' => '20220810010916_cni.jpg', 'article_date' => '2022-08-10 13:07:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15767', 'article_category_id' => '1', 'title' => 'Surya Nepal, the Highest Taxpayer in FY 2021/22', 'sub_title' => '', 'summary' => 'August 10: Surya Nepal Private Limited has emerged as the highest taxpayer during the last fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 10: Surya Nepal Private Limited has emerged as the highest taxpayer during the last fiscal year. According to the Large Taxpayers Office (LTO), the company paid taxes worth Rs 10.72 billion during FY 2021/22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The LTO informed that the amount includes Value Added Tax (VAT), income tax and all other taxes liable to the government. Surya Nepal Private Limited has been operating since 1986. Indian company ITC holds the largest amount of share of Surya Nepal. The Indian company holds 59 percent share while a Nepali company and individuals hold 39 percent share. Similarly, the British American Tobacco Limited holds the remaining two percent shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Surya Nepal has been producing cigarettes as well as match sticks, incense sticks and chocolates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Telecommunication Company Limited was the second highest tax payer during the review period. The Government of Nepal holds 91.49 percent shares in the company. The NTC was established 1975 and was registered as Nepal Telecom Company on February 5, 2004. Nepal Telecom paid taxes worth Rs 9.72 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Ncell Axiata Limited, a private sector telecommunication company operating in Nepal, finished third among the top taxpayers. Ncell paid taxes worth Rs 7.79 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gorkha Brewry, which produces beers like Gorkha, Carlsberg, Sanmiguel, and Somersby, was the fourth largest taxpayer during the review period for paying taxes worth Rs 5.69 billion followed by the state-owned Nepal Electricity Authority (Rs 3.95 billion). The NEA purchases electricity produced by state-owned projects as well as private sector and distributes it to the public. It also sells electricity to India when there is surplus production and imports electricity from the neighbouring country during scarcity.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, NIC Asia Bank ranks sixth among the highest taxpayers. The bank paid taxes worth Rs 3.41 billion followed by seventh-placed Nabil Bank (Rs 3.32 billion ), Global IME Bank (Rs 3.21 billion ), Siddhartha Bank (Rs 2.77 billion ), and Rastriya Banijya Bank (Rs 2.65 billion). </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15508', 'image' => '20220810121442_taxxxx.jpg', 'article_date' => '2022-08-10 12:13:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15766', 'article_category_id' => '1', 'title' => ''Increasing COVID-19 Cases Signals Fourth Wave' ', 'sub_title' => '', 'summary' => 'August 9: COVID-19 is on the rise in the country with the increasing number of new cases reported since the past few weeks. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 9: COVID-19 is on the rise in the country with the increasing number of new cases reported since the past few weeks. The surge in the infection rate follows increasing cases in neighbouring India, with easy cross border mobility of people due to the open border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The country has already reported Omicron's sub-variant, BA.5 and its transmission rate is much higher, thus contributing to the surge, according to health workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, the infection rate was over 15 percent against 0.5 percent some weeks earlier. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The infection statistics indicate the occurrence of the fourth wave, according to Dr Samir Kumar Adhikari, joint spokesperson for the Ministry of Health and Population. The government does not officially announce the wave as the statistics themselves suggest it, he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"In the past too, we did not announce any wave. Neither will we do so this time. But the caseload have indicated another wave." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Khageshwor Gelal, senior health administrator at the Epidemiology and Disease Control Division under the Department of Health Services and public health expert Dr Sagar Raj Bhandari concurred with Dr Adhikari on the indication of the occurrence of the fourth wave. "The government does not officially announce the manifestation of the virus. But, hundreds of infection cases taking place in recent days indicate the occurrence of the fourth wave," said Dr Gelal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Infection rate rising above five percent is considered to be another wave, said Dr Bhandari, adding that "the figure at present has been around 15 percent." In general, the rate goes down only after getting to its peak, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although BA.5 sub-variant is transmitted rapidly, it does not turn out to be serious, he said. He urged all people to follow the health protocols and get administered fourth dose of the vaccine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, in view of the latest infection risks, the ministry has directed health institutions and concerned authorities to manage early treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seventeen hospitals across the country have been designated to provide treatment to infected people. Likewise, the government has asked people to follow health protocols like compulsorily wearing facemasks and using sanitizers and not attending and hosting gatherings. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the virus-related deaths that took place lately, 80 percent were found in those who had not taken the COVID-19 vaccine, said Dr Gelal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15507', 'image' => '20220809054110_CnyztpE007017_20210819_PEPFN1A001.JPG', 'article_date' => '2022-08-09 17:40:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15764', 'article_category_id' => '1', 'title' => 'Banks Increasing Credit Flow Despite Decline in Deposits', 'sub_title' => '', 'summary' => 'August 9: Bank deposits have continued to decline in the first week of August. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 9: Bank deposits have continued to decline in the first week of August. Although the banks faced a setback in deposit collection, they have increased credit flow during this period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data provided by the Nepal Bankers Association, the deposit collection of banks declined by Rs 4 billion during the first week of August. Deposit collection of banks had declined by Rs 64 billion in the third week of July and by Rs 28 in the fourth week of July. It means that the deposit collection of banks has declined by Rs 96 billion so far in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total deposits of banks by the end of the last fiscal year stood at Rs 4541 billion. It has now decreased to Rs 4446 billion as of August 5. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson of Nepal Rastra Bank Dr Gunakar Bhatta says that the banking system witnessed withdrawal of cash in large amount as the Nepal Oil Corporation paid its long-standing dues to the Indian Oil Corporation during the beginning of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the deposits of banks also declined towards the end of the last fiscal year as the cheques issued by the government were withdrawn during that period, says Bhatta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the bank deposits have declined, credit flow has increased during the same period. Initially, the banks had reduced credit flow in the first week two weeks of the current fiscal year but have increased credit flow by Rs 2 billion in August.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The credit flow of banks had declined by Rs 10 billion in the third week of July and by Rs 1 billion in the fourth week of July. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total credit flow of banks as of August 5 stands at Rs 4166 billion. The credit flow of banks was Rs 4175 by the end of the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks had been tightening credit flow and focusing on deposit collection due to liquidity crisis. This had helped the banks to maintain the CD ratio as prescribed by the central bank. As of August 5, the average CD ratio of banks stands at 87.69 percent, according to Nepal Bankers Association.</span></span></p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => 'banks, credit, flow, deposit, collection, liquidity crisis, Nepal, Rastra, Bank', 'description' => '', 'sortorder' => '15505', 'image' => '20220809051625_Banks - Copy.jpg', 'article_date' => '2022-08-09 17:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15763', 'article_category_id' => '1', 'title' => 'Government Fails to Execute its Plan to Reopen Problematic Industries', 'sub_title' => '', 'summary' => 'August 9: The government, in the current fiscal year’s budget, has stated that the Hetauda Textile Industry will be brought into operation in a suitable format.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 9: The government, in the current fiscal year’s budget, has stated that the Hetauda Textile Industry will be brought into operation in a suitable format. Arrangements will be made for people holding public positions to wear clothes produced by the Hetauda Textile Industry.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the budget statement of the last fiscal year too, it was also mentioned that proposals will be invited to run the Hetauda Textile Industry in partnership with the private sector. However, both these announcements are not new. The government made efforts to run this industry in the fiscal year 2008/09. However, the government backed off from its plan to operate the industry citing reasons including lack of money to import cotton.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After four years of attempt to run the industry, the cabinet meeting on January 15, 2013 decided to halt the plan to reopen Hetauda Textile Industry Limited. For the last few years, the government has again pledged to reopen the textile industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government, despite failing to reopen the industry for more than a decade, now has announced that it will operate the textile industry in an appropriate format this year and make arrangements for civil servants to use the clothes produced by the same industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">It is speculated that the latest announcement will also be limited to the papers as the announcement was made without adequate preparation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the government has announced to open the industry which has remained closed since the last two decades (2000), the Ministry of Industry, Commerce and Supplies and the Industrial Area Management Limited (IDM) are not much active in terms of operational modality, technology and investment required for the industry. The Ministry of Industry had entrusted the project to IDM.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government's share of investment in IDM is expected to come from the assessment of the building and other physical infrastructure of the industry. Even though the industry was handed over to IDM for almost a decade with the government's shares intact, the IDM has not tried to revive the industry. Instead, the IDM is involved in expanding and announcing new industrial areas. The government had formed study committees at different times to operate the ailing industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Former Secretary Deepak Subedi, who is also the coordinator of the study committee formed two years ago, says that the Hetauda Textile Industry can be operated. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">"You don't need to do much for this. If you fulfil an handful of works, you can run the industry in a way that makes a profit," said Subedi adding, "The latest technology and equipment, good management system, and experienced people will be enough to run the industry rather than political appointments."</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15504', 'image' => '20220809032202_budget new.jpg', 'article_date' => '2022-08-09 15:21:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15762', 'article_category_id' => '1', 'title' => 'Salary Hike won’t Exceed 15 Percent: Finance Minister', 'sub_title' => '', 'summary' => 'August 9: Finance Minister Janardan Sharma has made it clear that the proposal to increase the salary of some civil servants above the rate announced in the budget will not be implemented.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 9: Finance Minister Janardan Sharma has made it clear that the proposal to increase the salary of some civil servants above the rate announced in the budget will not be implemented. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Sharma gave such an assurance during a meeting with the gazetted officers who are protesting against the attempt to increase salaries in an unfair manner against the provisions of the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Krishna Hari Pushkar, secretary at the finance ministry, had even prepared a draft to present it to the Council of Ministers to increase the salary of some gazetted employees by 24.26 percent, stating that the salary scale would be maintained according to the merit order. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Finance Minister Sharma had announced an increment of just 15 percent in the salaries of all civil servants, army, police, teachers, etc., effective from July 17, during his budget speech on May 29.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The top officials of Finance ministry tried to increase the salary of the gazetted officers at a higher rate than the one announced in the budget while disregarding the instructions of the parliamentary committee. On July 31, the Industry and Commerce and Labor and Consumer Welfare Committee of the Parliament gave instructions to determine the salaries of civil servants according to the order of merit. At present, the salary scale of army and police officers is higher than that of civil servants of the same rank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The gazetted employees, who were angry with the proposal of increasing salary in an unfair manner, met the finance minister on Monday and pressured him to correct it. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Gopal Pokharel, president of Nepal Civil Service Employee’s Association (NECSEA) informed that Sharma expressed commitment that he will increase the salary according to the budget speech for the time being and settle the unresolved issues by forming a “Pay Commission” as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Along with Pokharel, Lekhnath Koirala, president of Civil Service Organization, Hari Bahadur Rawal, president of National Employees Organization, Nepal, Bhuvaneshwar Chaudhary, president of Madhesi Employees Organization, Mohan Ghimire, president of Integrated Government Employees Organization had met Finance Minister Sharma on Monday to discuss this issue.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Rawal, President of National Employees Organization, Nepal informed that Minister Sharma will now implement a 15 percent salary increase. According to Rawal, Minister Sharma has promised to settle issues including the order of merit within and outside the civil service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">If the proposal of the finance ministry is passed, a section officer will get an increment of 24.26 percent, under secretary 23.35 percent, joint secretary 23.63 percent and secretary 18.41 percent on their salary effective from mid-July. The salary of employees below the non-gazetted first class officer however will increase by just 15 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The non-gazetted first class employees working in Singha Durbar gathered at the Ministry of Finance on Monday and opposed the proposal. The Civil Servants Association Nepal warned that the non-gazetted first class employees of the whole country will be on holiday on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15503', 'image' => '20220809013331_fin sharma.jpg', 'article_date' => '2022-08-09 13:32:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15761', 'article_category_id' => '1', 'title' => 'Solution-Oriented Garbage Management Turning Kathmandu Valley's Trash into Cash ', 'sub_title' => '', 'summary' => 'August 9: The management of biodegradable wastes in Kathmandu Valley is believed to be no longer a pressing problem as garbage management is to begin from mid-August this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 9: The management of biodegradable wastes in Kathmandu Valley is believed to be no longer a pressing problem as garbage management is to begin from mid-August this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Identification of a place at Kirtipur in Kathmandu Valley to manage such garbage is likely to offer a viable solution to the valley's pertinent problems. Around 50 ropanis of land has been obtained by the Kathmandu Metropolitan City (KMC) for garbage management. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Initially, around 40,000 kilograms of recyclable wastes would be collected from eight wards of KMC and those would be turned into manure at this site and then sold at subsidized rate. KMC is also keeping an eye out for other viable sites for this purpose. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis had been dumping all sort of garbage in Bancharedanda and Sisdol in Nuwakot district for nearly a decade and half. The garbage management faced obstructions time and again during this period. The KMC recently identified Kirtipur's site for sustainable and effective management of wastes, especially the compostable ones. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The KMC decided that it will no longer dump harmful garbage in Bancharedanda.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nabin Manandhar, spokesperson for the KMC, shared that a team led by KMC mayor Balendra Shah was hunting more prospective sites in and around Chandragiri, Dakshinkali, Nagarjuna, Tarkeshwar and Banepa (outside the valley) to continue the waste management bid. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The sites available so far for garbage management span from 50 ropanis to 150. The KMC team is still looking for more suitable and less expensive land for the same, said Manandhar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has already started segregation of biodegradable and non-biodegradable garbage from the source since July 17. The Garbage Management Act-2068 BS has a provision of classification of garbage. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Private Garbage Collectors to be Brought Under the Ambit of Law </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although wastage classification project has been implemented in all 32 wards of the KMC, wastages have been managed by private companies in 23 wards while KMC itself manages wastages in remaining nine major wards. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Locals complained those places where KMC had been managing garbage sees continuation in management while garbage remain to be collected and dumped for nearly two months in those wards managed by private companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dwellers in those wards complained that the private sector was engaged in money-making only rather than delivering service. The irresponsibleness towards the public had led to irregular garbage management in those wards, the locals in those wards said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The local level administration in those wards have been warning the private companies of action if they do not collect the garbage from the designated places. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Lalitpur metropolis mayor Chiribabu Maharjan pressed an idea of managing waste within the local government where it is produced. "Attention of the federal government is required for this," he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The roles and responsibilities, modality of coordination among the federal, province and local governments, framework of joint-investment and the ways of managing household, institutional, industrial, electric and post-disaster wastes should be clearly mentioned in the laws, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chandragiri municipality mayor Ghanshyam Giri said the role of Province Government in waste management should be ensured in the law as per the spirit of federalism. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Mayor Giri, level-wise works and responsibilities of the government in production, collection, disposal and the entire management procedures along with their effective implementation should be guaranteed in the new law. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Besides, issues concerning environmental pollution from waste and its negative implications on public health, the responsibilities of three-tier government in waste management, inter-local-level coordination and the utilization of waste as means of economic gains should be the priorities ahead, according to chiefs of other local governments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Alternative Route to Landfill Site </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Process has begun to identify and establish a route to the Bancharedanda landfill site as an alternative to the regular route which gets disrupted by monsoon rains each year, posing challenges to the transport of waste. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The work in this regard has begun in cooperation among the KMC and other 17 local governments in the Kathmandu Valley. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is said the section from Mudkhukhola to Bancharendanda remains disrupted by rains for several weeks, causing challenges in the waste management. A gravel road at Mudkhukhola serving as an alternative access to Bancharedanda is likely to be upgraded soon and the KMC has allocated Rs two million for this project in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A minimum of 200 vehicles transport the garbage managed by the private sector and the KMC daily. Only 150 vehicles are transporting the waste to the dumping site at present due to the ongoing road repair works. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Waste Management</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The waste generated in Kathmandu Valley is being dumped at Sisdol of Kakani Rural Municipality in Nuwakot since 2005, although it was meant to be dumped for two years initially. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">One thousand two hundred metric tonnes of waste is being managed at Sisdol each day. Out of this amount of waste, Kathmandu metropolis alone contributes the highest amount of 500 metric tonnes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that forty per cent of the waste produced in the valley can be managed. Every local level ward is said to be preparing to purchase the materials that can be reused for this purpose. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Experts have suggested segregating the waste into biodegradable and non-degradable at its source itself, reducing the production of waste, using linen or jute bags as an alternative to plastic bag, promotion of 'zero waste' concept and using modern technology in waste management for addressing this perennial problem of managing the solid waste in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => 'waste, management, Kathmandu, Valley, Kirtipur, Sisdole, landfill site, bio, degradable, Balen, Shah', 'description' => '', 'sortorder' => '15502', 'image' => '20220809115231_Kathmandu Valley.jpg', 'article_date' => '2022-08-09 11:51:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15760', 'article_category_id' => '1', 'title' => 'Nepal-USA Chamber of Commerce discusses Trade and Investment with PM Deuba', 'sub_title' => '', 'summary' => 'August 9: A delegation of Nepal-USA Chamber of Commerce and Industry (NUSACCI) led by its President Kiran P Saakha paid a courtesy call to Prime Minister Sher Bahadur Deuba at his official residence in Baluwatar recently.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">August 9: A delegation of Nepal-USA Chamber of Commerce and Industry (NUSACCI) led by its President Kiran P Saakha paid a courtesy call to Prime Minister Sher Bahadur Deuba at his official residence in Baluwatar recently. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting on August 6 was arranged introduce the newly elected NUSACCI executive board members to the prime minister. During the occasion, the delegation also briefed the PM about the activities undertaken by NUSACCI as well as various issues related to Nepal-USA trade and investment.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Issuing a statement, NUSACCI said that Saakha extended sincere thanks and gratitude to Prime Minister Deuba for giving his valuable time to meet the NUSACCI delegation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the meeting, Saakh said that the NUSACCI was a bilateral chamber with over 28 years of existence and also briefed the role played by NUSACCI for strengthening bilateral ties between the two countries in the areas of trade and investment and its stance on early ratification of MCC by parliament.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The USA is one of the major trading partners of Nepal, said the statement, adding that Nepal’s trade balance with the USA was in a deficit since a couple of years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NUSACCI informed that the major share of Nepal export to USA comprises carpet followed by felt and cat and dog food. In view of this, the delegation stressed on an urgent need for the promotion of carpet, readymade garments and pashmina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Saakha said that NUSACCI is always ready to collaborate with the Government of Nepal for promotional activities to boost export to the USA. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another major issue discussed during the meeting was the Trade and Investment Framework Agreement (TIFA) with the USA done in 2011 under which there is a provision of technical assistance but the private sector is not getting the benefit as envisaged in the agreement, the statement added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal is enjoying duty free entry of 77 goods to the USA. “In fact, 5 items categorically cover 77 different HS code items,” the statement further said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Other issues discussed during the courtesy visit included the importance of compensation law, Intellectual Property Right (IPR), attracting American investment in the hydropower sector, promotional activities for export in collaboration with GON. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the meeting, NUSACCI General Secretary Prof Dr Gandhi Pandit said that legal regime and enabling environment play a crucial role in attracting American investment in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting was also attended by NUSACCI board members Brindaban Man Pradhanang, Rajani Rana and Sunil Rajbhandari.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15501', 'image' => '20220809112320_ROS_KTM_6487327.jpg', 'article_date' => '2022-08-09 11:22:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15759', 'article_category_id' => '1', 'title' => 'India not to Levy GST on Transit Cargo from Nepal', 'sub_title' => '', 'summary' => 'August 8: India's goods and services tax (GST) will no longer be levied on transit cargo shipments from Nepal to third countries via India. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: India's goods and services tax (GST) will no longer be levied on transit cargo shipments from Nepal to third countries via India. Until now, only the shipments entering Nepal were exempt of GST. However, the shipping companies used to charge GST on products exported from Nepal at Kolkata, Haldia and Visakhapatnam ports of India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In September 2017, India had issued a notice to concerned bodies not to collect GST on cargo entering Nepal. Since the notification did not say anything about the shipment going out from Nepal, the service providers were charging GST on the goods exported from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Goods and services exported from India to Nepal are also exempt from this tax. The revenue department under the Ministry of Finance of India, in a notice issued on August 3, has made it clear that GST will not be charged on both transit cargo going to and coming out from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After the notice issued of the department, now the shipping companies will not be allowed to collect GST on all container shipments returning from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Industry, Commerce and Supplies had taken the initiative with the concerned bodies of India to remove such taxes. Last month, Commerce Secretary Ganesh Prasad Pandey requested the Indian authorities to remove GST on transit cargo from Nepal to third countries. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Ravi Shankar Sainju, former joint secretary of the ministry, said that this arrangement will have more beneficial for the exporters of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“In the provision made by the GST Council five years ago, it was not clear about the cargo going out through Nepal. Taking advantage of this loophole, they were collecting taxes on the export and empty containers,” said Sainju. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Naresh Agarwal, vice president of Nepal Freight Forwarders Association, said that since GST is charged in the name of various services in Indian ports on containers that have gone from Nepal, now that amount will be saved. “This is a positive aspect of Nepal's overseas trade. This will reduce the cost of doing business,” Agarwal said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15500', 'image' => '20220808041057_1631664081.Clipboard03.jpg', 'article_date' => '2022-08-08 16:10:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15756', 'article_category_id' => '1', 'title' => 'International Women's Trade Fair from August 18', 'sub_title' => '', 'summary' => 'August 8: The International Women’s Trade Fair is all set to kick off at the Heritage Garden in Sanepa, Kathmandu on August 18. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: The International Women’s Trade Fair is all set to kick off at the Heritage Garden in Sanepa, Kathmandu on August 18. The four-day event will conclude on August 22. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The trade fair is going to be organized by the Federation of Women Entrepreneurs’ Association of Nepal (FWEAN).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FWEAN held a press conference on Sunday, August 7 and informed that women entrepreneurs associated with small and medium-scale industries all over the country, traders, and women exporters as well as women entrepreneurs from international countries will participate in the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a fair is being organized for the social and economic empowerment of women. This fair is the sixth edition of the International Women's Trade Fair, which will be inaugurated by Prime Minister Sher Bahadur Deuba. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the organizers, the marketing of the products produced using local tools and resources in Nepal will get exposure to national and international levels through this fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In addition, certificates of excellence in various categories will be awarded as incentives to women entrepreneurs participating in the fair from various districts. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation is also scheduled to organize a one-day conference on August 19 titled 'Building a Sustainable Business to Empower Women'.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15497', 'image' => '20220808124809_fair.jpg', 'article_date' => '2022-08-08 12:47:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15755', 'article_category_id' => '1', 'title' => 'Pokhara Regional Int'l Airport to Operate from January 1, 2023 ', 'sub_title' => '', 'summary' => 'August 8: The Pokhara Regional International Airport will officially come into operation from January 1, 2023.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 8: The Pokhara Regional International Airport will officially come into operation from January 1, 2023. </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 meeting of the board of directors of the Civil Aviation Authority of Nepal (CAAN) on Sunday took a decision to this effect, said CAAN Spokesperson Jagannath Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project worth Rs 22 billion has achieved completion of 98 percent of the construction works so far, he said, adding that a calibration flight would take place in upcoming October. The project that directly connects the major tourist destination, Pokhara, with the globe through international flights spans over 200 hectares of lands. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15496', 'image' => '20220808115737_Pokhara-Airport-800X533.jpg', 'article_date' => '2022-08-08 11:56:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15754', 'article_category_id' => '1', 'title' => 'Cathay Pacific to Operate Hong Kong-Kathmandu Flights from October 1 ', 'sub_title' => '', 'summary' => 'August 7: The Cathay Pacific Airlines will start operating direct flight between Kathmandu and Hong Kong from October 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 7: The Cathay Pacific Airlines will start operating direct flight between Kathmandu and Hong Kong from October 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flag carrier of Hong Kong has obtained permit from the Civil Aviation Authority of Nepal (CAAN) to conduct one flight in a week between Kathmandu and Hong Kong on Saturday, informed CAAN's spokesperson Jagannath Niruala. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Niraula, the airline company has already completed all the process to operate direct flights. The airlines has requested for 12 noon to 1:00 pm's slot while the CAAN is mulling to provide the slot after 8:00 pm, he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, Nepal Airlines has been operating flights from Kathmandu to Hong Kong and vice versa. Hong Kong is considered an important aviation destination due to dominance of Nepali diaspora there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, a total of 26 international airlines including two Nepali companies have been operating international flights to and from the Tribhuvan International Airport at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to COVID-19 pandemic, 30 nations operating flights had been operating flights to and from the TIA but now only 21 nations operate flights. Currently, an average of 70 flights are being operated to and from TIA on a daily basis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has inked aviation agreement with 40 countries so far. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-07', 'modified' => '2022-08-07', 'keywords' => 'flight, Kathmandu, Hong Kong, Cathay, Pacific, airlines, CAAN, TIA', 'description' => '', 'sortorder' => '15495', 'image' => '20220807094102_Cathay-Pacific-Aircraft-e1557145681253-752x348.jpg', 'article_date' => '2022-08-07 09:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15752', 'article_category_id' => '1', 'title' => 'Arrival of Chinese Tourists Improving', 'sub_title' => '', 'summary' => 'August 5: The arrival of Chinese tourists, which had come to a standstill after the outbreak of coronavirus, has been encouraging in recent months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 5: The arrival of Chinese tourists, which had come to a standstill after the outbreak of coronavirus, has been encouraging in recent months. The arrival of Chinese tourists increased by 250 percent in July compared to June. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Immigration, a total of 451 Chinese tourists arrived in Nepal in June, which increased to 1, 593 in July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before the start of the pandemic, altogether 10, 808 Chinese tourists had arrived in Nepal in July 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The arrival of Chinese tourists has increased after China eased the restrictions imposed to curb the viral outbreak. However, China is still enforcing lockdown in some of its cities. According to media reports, lockdown is still in place in China’s southern city of Sanya and Wuhan, the origin of coronavirus. But the lockdown is not as strict as it was before as most of the Chinese citizens have been vaccinated against the virus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chinese and Indian tourists form the backbone of Nepal’s tourism industry. The two countries are also the most populous countries in the world. China’s population is more than one billion and India’s population is a little less. Indian tourists do not require any visa to visit Nepal. Hundreds of thousands of tourists from the two countries travel worldwide every year. Nepal’s tourism sector can benefit a lot if it can tap in the potential of Indian and Chinese tourists.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-05', 'modified' => '2022-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '15493', 'image' => '20220805035319_1659677829.296610149_625118472144142_1629395372382313309_n.jpg', 'article_date' => '2022-08-05 15:52:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15770', 'article_category_id' => '1', 'title' => 'Five Corruption Cases Filed in a Single Day', 'sub_title' => '', 'summary' => 'August 10: The Commission for the Investigation of Abuse of Authority (CIAA) has filed five cases of corruption in the special court in a single day.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 10: The Commission for the Investigation of Abuse of Authority (CIAA) has filed five cases of corruption in the special court in a single day.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CIAA registered five cases in the Special Court on Tuesday on charges of corruption by employees working in various public bodies in Kalikot and Mugu districts during the Fiscal Year 2014/15. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CIAA filed cases against Mugu Divisional Forest Officer Bharat Bahadur Budha Thapa; former non gazette officer of the District Development Committee Office, Kalikot Raj Bahadur Bam; former Local Adaptation Plan for Action (LAPA) Programme Coordinator of District Development Committee Kalikot Kamal Prasad Khanal; Building Construction Consumer Committee Officer of Allo Bhango Processing Center, Kalikot and former technician of the ,Agriculture Development Office Kalikot Paras Ratna Prasad Pandey, separately. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the anti-graft body, the CIAA filed the case against seven people, including Bharat Bahadur Budha Thapa, a forest officer of Division Forest Office, Mugu after they were found involved in embezzling funds during the construction of a tourist trail from Chankheli Himal to Dudhtal under Mugu's Chayanath Rara Municipality-14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The case against Ratna Prasad Pandey, the then technical assistant of Kalikot, who is now the official of Guthichour Rural Municipality, Jumla, was registered for his role in embezzling government and public property during the agricultural training programme conducted by the District Agricultural Development Office, Kalikot in the fiscal year 2013/14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A case has also been registered against the Consumers Construction Committee and its office bearers including President Nanda Prasad Pandey, Secretary Narendra Prasad Pandey and Treasurer Binita Rana Pandey for embezzling funds by creating fake bills for the construction of Allo Bhango Processing Center in Kalikot in the fiscal year 2013/14. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The commission has registered a case in the special court against the then non-gazetted officer Raj Bahadur Bam of Kalikot who was involved in fraudulent activities in the purchase of sewing machines and transportation of the goods in the programme under the Under Privileged Upliftment Development Committee run in Kalikot during the fiscal year 2013/14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The authority filed the case against Kamal Prasad Khanal, former LAPA Programme Coordinator of the District Development Committee, Kalikot, on the charge that he had made a hoarding board for propaganda purpose under the Nepal Climate Change Assistance Program in FY 2013/14, by including it in a fake payment scheme.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15511', 'image' => '20220810034944_1660084065.Clipboard22.jpg', 'article_date' => '2022-08-10 15:49:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15769', 'article_category_id' => '1', 'title' => 'Cooperatives Under Pressure to Increase Interest Rates', 'sub_title' => '', 'summary' => 'August 10: As the savings and credit cooperatives under increasing pressure due to liquidity crisis, the operators of the cooperatives have been pressing increase in reference interest rate of the cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 10: As the savings and credit cooperatives under increasing pressure due to liquidity crisis, the operators of the cooperatives have been pressing increase in reference interest rate of the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The cooperatives have been demanding a review of the reference interest rate, saying that after the banks and financial institutions increased the interest, the deposits started moving from the cooperatives to the banks. The Federal Cooperative Department has been applying a reference interest rate of 16 percent on cooperatives since February 27. The interest rate fixed four months ago is not relevant in the market and the cooperatives have launched a campaign demanded its review.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Paritosh Paudyal, president of Nepal Federation of Savings Credit Cooperative Unions Ltd (NEFSCUN), said that as banks and financial institutions are paying high interest on deposits due to lack of liquidity, the reference interest rate of cooperatives should also be changed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> “The interest rate of banks has reached as much as 19 percent at present. If the reference interest rate of cooperatives is not reviewed in time, it may create a situation where cooperatives might have to violate it,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In February, the reference interest rate determination committee meeting decided to hold a meeting every 4 months and review it. However, the meeting of the committee has not been held even after 4 months after the implementation of the interest rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Om Devi Malla, Senior Vice President of the National Cooperative Federation and member of the Interest Rate Recommendation Committee said that the department is reluctant to hold a meeting of the committee. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“We requested the registrar to call a meeting according to the decision of the committee. However, the registrar refused to call the meeting stating that the minister does not think the interest rate should be increased,” she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Some time ago, Minister for Land Management, Cooperatives and Poverty Alleviation Shashi Shrestha said during a public programme that the reference interest rate should not be increased under any circumstances.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Amid increasing pressure to revise the interest rate, the department formed a technical committee under the coordination of Deputy-Registrar Tolraj Upadhyay. General Manager of National Cooperative Federation Chitra Kumari Subba, Chief Executive Officer of National Cooperative Bank Badri Kumar Guragain and Chief Executive Officer of NEFSCUN Prakash Prasad Pokharel are members of the committee. Department sources say that the committee is ready to hold a meeting only after the technical committee submits its report.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After the reference interest rate was not reviewed earlier in February, the cooperatives under the leadership of the Federation of Cooperatives staged a sit-in protest at the department.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In order to manage the interest rate of the cooperatives, the Cooperatives Act 2074 has a provision for the reference interest rate. According to section 51 of the Act, there will be an arrangement for representative members of the Ministry of Cooperatives, Ministry of Finance, Nepal Rastra Bank, National Cooperative Development Board, Federation of Cooperatives and Subject Cooperative Associations under the coordination of the Federal Registrar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of the Cooperative Act and Regulations, there is a provision to determine the reference interest rate for cooperatives based on the average interest of commercial banks, the average interest of savings and credit cooperatives, and the average interest of cooperative banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the reference interest rate is the maximum limit for the interest on loan investment of cooperatives, it has not been effectively implemented. However, due to lack of liquidity, institutions operating in urban areas are charging higher interest rates than the fixed rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Minraj Kandel, president of the National Cooperative Federation said that the problem of liquidity increased due to the increase in the number of people demanding the return of savings in some cooperatives. He added that in this situation, it is necessary to increase the reference interest rate in order to increase the deposit interest rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, in an appeal issued last Sunday, the Federation of Cooperatives also demanded to review the reference rate saying that the limit has caused difficulties to the cooperatives. Similarly, the Federation has been advocating for a system of automatic interest rate of the cooperative based on the market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15510', 'image' => '20220810012446_1660107399.Sahakari 12.jpeg', 'article_date' => '2022-08-10 13:24:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15768', 'article_category_id' => '1', 'title' => 'CNI Jobs and Skills Fair 2022 in November', 'sub_title' => '', 'summary' => 'August 10: The CNI Jobs and Skills Fair-2022 is all set to be organized in Kathmandu from November 3 to 20, with the participation of 200 companies of national and international level.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 10: The CNI Jobs and Skills Fair-2022 is all set to be organized in Kathmandu from November 3 to 20, with the participation of 200 companies of national and international level. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The aim of organizing the fair is to reduce the gap between the availability of skills in the market, the employers and the unemployed with skill and to make direct contact with the companies, informed the Confederation of Nepalese Industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Organising a press conference in Kathmandu on Tuesday, CNI said that the fair will help in reducing the situation where employers are not able to find skilled manpower, but young people who have learned skills are unemployed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As per CNI, at least 500,000 people seek for employment in the country each year. Even though companies demand employees from drivers to management level, there is no clear connection between employers and job seekers. The aim of the fair is to improve this situation, said CNI. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the press meet, CNI Vice President Krishna Prasad Adhikari said that there will be coordination between job seekers and employers. According to Adhilari, CNI will also launch an "app" with the aim of making it easier to find jobs by establishing direct contact with the companies participating in the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“The fair is not organized to give out jobs. Rather, it is organized to act as a bridge between the gap between employment and skills,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Stating that this is the first attempt of the confederation, he said that it is time to pay attention to education criteria to meet the demand for the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Rajesh Agarwal, vice president of the federation said that the fair is also necessary to develop the issues of education, employment and skills as a national debate. He informed that although the CNI is organizing such a fair for the first time in Kathmandu, it will also be held at the state level in the future. He said that an app will be created for contacting the companies that came to the fair and those who need employment can register and apply for employment through the same app.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI also informed that there will be a comprehensive discussion on the needs of employers and meeting the demands of skilled employees. Twiraj Sharma, coordinator of the fair said that companies from India like Tata and other countries will be invited to participate as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The confederation is going to study the job situation and demand before the fair, especially by studying the information technology, hospitality and agriculture sectors. The confederation expects to achieve success in identifying the need for policy and curriculum to create world-class manpower in Nepal through the fair. There will be a comprehensive discussion on skill development, presentations from national and international experts and discussions and contacts with companies for work. Organizers estimate that more than 50,000 people will attend the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15509', 'image' => '20220810010916_cni.jpg', 'article_date' => '2022-08-10 13:07:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15767', 'article_category_id' => '1', 'title' => 'Surya Nepal, the Highest Taxpayer in FY 2021/22', 'sub_title' => '', 'summary' => 'August 10: Surya Nepal Private Limited has emerged as the highest taxpayer during the last fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 10: Surya Nepal Private Limited has emerged as the highest taxpayer during the last fiscal year. According to the Large Taxpayers Office (LTO), the company paid taxes worth Rs 10.72 billion during FY 2021/22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The LTO informed that the amount includes Value Added Tax (VAT), income tax and all other taxes liable to the government. Surya Nepal Private Limited has been operating since 1986. Indian company ITC holds the largest amount of share of Surya Nepal. The Indian company holds 59 percent share while a Nepali company and individuals hold 39 percent share. Similarly, the British American Tobacco Limited holds the remaining two percent shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Surya Nepal has been producing cigarettes as well as match sticks, incense sticks and chocolates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Telecommunication Company Limited was the second highest tax payer during the review period. The Government of Nepal holds 91.49 percent shares in the company. The NTC was established 1975 and was registered as Nepal Telecom Company on February 5, 2004. Nepal Telecom paid taxes worth Rs 9.72 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Ncell Axiata Limited, a private sector telecommunication company operating in Nepal, finished third among the top taxpayers. Ncell paid taxes worth Rs 7.79 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gorkha Brewry, which produces beers like Gorkha, Carlsberg, Sanmiguel, and Somersby, was the fourth largest taxpayer during the review period for paying taxes worth Rs 5.69 billion followed by the state-owned Nepal Electricity Authority (Rs 3.95 billion). The NEA purchases electricity produced by state-owned projects as well as private sector and distributes it to the public. It also sells electricity to India when there is surplus production and imports electricity from the neighbouring country during scarcity.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, NIC Asia Bank ranks sixth among the highest taxpayers. The bank paid taxes worth Rs 3.41 billion followed by seventh-placed Nabil Bank (Rs 3.32 billion ), Global IME Bank (Rs 3.21 billion ), Siddhartha Bank (Rs 2.77 billion ), and Rastriya Banijya Bank (Rs 2.65 billion). </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15508', 'image' => '20220810121442_taxxxx.jpg', 'article_date' => '2022-08-10 12:13:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15766', 'article_category_id' => '1', 'title' => ''Increasing COVID-19 Cases Signals Fourth Wave' ', 'sub_title' => '', 'summary' => 'August 9: COVID-19 is on the rise in the country with the increasing number of new cases reported since the past few weeks. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 9: COVID-19 is on the rise in the country with the increasing number of new cases reported since the past few weeks. The surge in the infection rate follows increasing cases in neighbouring India, with easy cross border mobility of people due to the open border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The country has already reported Omicron's sub-variant, BA.5 and its transmission rate is much higher, thus contributing to the surge, according to health workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, the infection rate was over 15 percent against 0.5 percent some weeks earlier. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The infection statistics indicate the occurrence of the fourth wave, according to Dr Samir Kumar Adhikari, joint spokesperson for the Ministry of Health and Population. The government does not officially announce the wave as the statistics themselves suggest it, he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"In the past too, we did not announce any wave. Neither will we do so this time. But the caseload have indicated another wave." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Khageshwor Gelal, senior health administrator at the Epidemiology and Disease Control Division under the Department of Health Services and public health expert Dr Sagar Raj Bhandari concurred with Dr Adhikari on the indication of the occurrence of the fourth wave. "The government does not officially announce the manifestation of the virus. But, hundreds of infection cases taking place in recent days indicate the occurrence of the fourth wave," said Dr Gelal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Infection rate rising above five percent is considered to be another wave, said Dr Bhandari, adding that "the figure at present has been around 15 percent." In general, the rate goes down only after getting to its peak, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although BA.5 sub-variant is transmitted rapidly, it does not turn out to be serious, he said. He urged all people to follow the health protocols and get administered fourth dose of the vaccine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, in view of the latest infection risks, the ministry has directed health institutions and concerned authorities to manage early treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seventeen hospitals across the country have been designated to provide treatment to infected people. Likewise, the government has asked people to follow health protocols like compulsorily wearing facemasks and using sanitizers and not attending and hosting gatherings. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the virus-related deaths that took place lately, 80 percent were found in those who had not taken the COVID-19 vaccine, said Dr Gelal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15507', 'image' => '20220809054110_CnyztpE007017_20210819_PEPFN1A001.JPG', 'article_date' => '2022-08-09 17:40:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15764', 'article_category_id' => '1', 'title' => 'Banks Increasing Credit Flow Despite Decline in Deposits', 'sub_title' => '', 'summary' => 'August 9: Bank deposits have continued to decline in the first week of August. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 9: Bank deposits have continued to decline in the first week of August. Although the banks faced a setback in deposit collection, they have increased credit flow during this period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data provided by the Nepal Bankers Association, the deposit collection of banks declined by Rs 4 billion during the first week of August. Deposit collection of banks had declined by Rs 64 billion in the third week of July and by Rs 28 in the fourth week of July. It means that the deposit collection of banks has declined by Rs 96 billion so far in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total deposits of banks by the end of the last fiscal year stood at Rs 4541 billion. It has now decreased to Rs 4446 billion as of August 5. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson of Nepal Rastra Bank Dr Gunakar Bhatta says that the banking system witnessed withdrawal of cash in large amount as the Nepal Oil Corporation paid its long-standing dues to the Indian Oil Corporation during the beginning of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the deposits of banks also declined towards the end of the last fiscal year as the cheques issued by the government were withdrawn during that period, says Bhatta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the bank deposits have declined, credit flow has increased during the same period. Initially, the banks had reduced credit flow in the first week two weeks of the current fiscal year but have increased credit flow by Rs 2 billion in August.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The credit flow of banks had declined by Rs 10 billion in the third week of July and by Rs 1 billion in the fourth week of July. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total credit flow of banks as of August 5 stands at Rs 4166 billion. The credit flow of banks was Rs 4175 by the end of the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks had been tightening credit flow and focusing on deposit collection due to liquidity crisis. This had helped the banks to maintain the CD ratio as prescribed by the central bank. As of August 5, the average CD ratio of banks stands at 87.69 percent, according to Nepal Bankers Association.</span></span></p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => 'banks, credit, flow, deposit, collection, liquidity crisis, Nepal, Rastra, Bank', 'description' => '', 'sortorder' => '15505', 'image' => '20220809051625_Banks - Copy.jpg', 'article_date' => '2022-08-09 17:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15763', 'article_category_id' => '1', 'title' => 'Government Fails to Execute its Plan to Reopen Problematic Industries', 'sub_title' => '', 'summary' => 'August 9: The government, in the current fiscal year’s budget, has stated that the Hetauda Textile Industry will be brought into operation in a suitable format.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 9: The government, in the current fiscal year’s budget, has stated that the Hetauda Textile Industry will be brought into operation in a suitable format. Arrangements will be made for people holding public positions to wear clothes produced by the Hetauda Textile Industry.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the budget statement of the last fiscal year too, it was also mentioned that proposals will be invited to run the Hetauda Textile Industry in partnership with the private sector. However, both these announcements are not new. The government made efforts to run this industry in the fiscal year 2008/09. However, the government backed off from its plan to operate the industry citing reasons including lack of money to import cotton.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After four years of attempt to run the industry, the cabinet meeting on January 15, 2013 decided to halt the plan to reopen Hetauda Textile Industry Limited. For the last few years, the government has again pledged to reopen the textile industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government, despite failing to reopen the industry for more than a decade, now has announced that it will operate the textile industry in an appropriate format this year and make arrangements for civil servants to use the clothes produced by the same industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">It is speculated that the latest announcement will also be limited to the papers as the announcement was made without adequate preparation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the government has announced to open the industry which has remained closed since the last two decades (2000), the Ministry of Industry, Commerce and Supplies and the Industrial Area Management Limited (IDM) are not much active in terms of operational modality, technology and investment required for the industry. The Ministry of Industry had entrusted the project to IDM.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government's share of investment in IDM is expected to come from the assessment of the building and other physical infrastructure of the industry. Even though the industry was handed over to IDM for almost a decade with the government's shares intact, the IDM has not tried to revive the industry. Instead, the IDM is involved in expanding and announcing new industrial areas. The government had formed study committees at different times to operate the ailing industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Former Secretary Deepak Subedi, who is also the coordinator of the study committee formed two years ago, says that the Hetauda Textile Industry can be operated. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">"You don't need to do much for this. If you fulfil an handful of works, you can run the industry in a way that makes a profit," said Subedi adding, "The latest technology and equipment, good management system, and experienced people will be enough to run the industry rather than political appointments."</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15504', 'image' => '20220809032202_budget new.jpg', 'article_date' => '2022-08-09 15:21:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15762', 'article_category_id' => '1', 'title' => 'Salary Hike won’t Exceed 15 Percent: Finance Minister', 'sub_title' => '', 'summary' => 'August 9: Finance Minister Janardan Sharma has made it clear that the proposal to increase the salary of some civil servants above the rate announced in the budget will not be implemented.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 9: Finance Minister Janardan Sharma has made it clear that the proposal to increase the salary of some civil servants above the rate announced in the budget will not be implemented. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Sharma gave such an assurance during a meeting with the gazetted officers who are protesting against the attempt to increase salaries in an unfair manner against the provisions of the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Krishna Hari Pushkar, secretary at the finance ministry, had even prepared a draft to present it to the Council of Ministers to increase the salary of some gazetted employees by 24.26 percent, stating that the salary scale would be maintained according to the merit order. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Finance Minister Sharma had announced an increment of just 15 percent in the salaries of all civil servants, army, police, teachers, etc., effective from July 17, during his budget speech on May 29.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The top officials of Finance ministry tried to increase the salary of the gazetted officers at a higher rate than the one announced in the budget while disregarding the instructions of the parliamentary committee. On July 31, the Industry and Commerce and Labor and Consumer Welfare Committee of the Parliament gave instructions to determine the salaries of civil servants according to the order of merit. At present, the salary scale of army and police officers is higher than that of civil servants of the same rank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The gazetted employees, who were angry with the proposal of increasing salary in an unfair manner, met the finance minister on Monday and pressured him to correct it. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Gopal Pokharel, president of Nepal Civil Service Employee’s Association (NECSEA) informed that Sharma expressed commitment that he will increase the salary according to the budget speech for the time being and settle the unresolved issues by forming a “Pay Commission” as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Along with Pokharel, Lekhnath Koirala, president of Civil Service Organization, Hari Bahadur Rawal, president of National Employees Organization, Nepal, Bhuvaneshwar Chaudhary, president of Madhesi Employees Organization, Mohan Ghimire, president of Integrated Government Employees Organization had met Finance Minister Sharma on Monday to discuss this issue.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Rawal, President of National Employees Organization, Nepal informed that Minister Sharma will now implement a 15 percent salary increase. According to Rawal, Minister Sharma has promised to settle issues including the order of merit within and outside the civil service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">If the proposal of the finance ministry is passed, a section officer will get an increment of 24.26 percent, under secretary 23.35 percent, joint secretary 23.63 percent and secretary 18.41 percent on their salary effective from mid-July. The salary of employees below the non-gazetted first class officer however will increase by just 15 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The non-gazetted first class employees working in Singha Durbar gathered at the Ministry of Finance on Monday and opposed the proposal. The Civil Servants Association Nepal warned that the non-gazetted first class employees of the whole country will be on holiday on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15503', 'image' => '20220809013331_fin sharma.jpg', 'article_date' => '2022-08-09 13:32:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15761', 'article_category_id' => '1', 'title' => 'Solution-Oriented Garbage Management Turning Kathmandu Valley's Trash into Cash ', 'sub_title' => '', 'summary' => 'August 9: The management of biodegradable wastes in Kathmandu Valley is believed to be no longer a pressing problem as garbage management is to begin from mid-August this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 9: The management of biodegradable wastes in Kathmandu Valley is believed to be no longer a pressing problem as garbage management is to begin from mid-August this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Identification of a place at Kirtipur in Kathmandu Valley to manage such garbage is likely to offer a viable solution to the valley's pertinent problems. Around 50 ropanis of land has been obtained by the Kathmandu Metropolitan City (KMC) for garbage management. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Initially, around 40,000 kilograms of recyclable wastes would be collected from eight wards of KMC and those would be turned into manure at this site and then sold at subsidized rate. KMC is also keeping an eye out for other viable sites for this purpose. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis had been dumping all sort of garbage in Bancharedanda and Sisdol in Nuwakot district for nearly a decade and half. The garbage management faced obstructions time and again during this period. The KMC recently identified Kirtipur's site for sustainable and effective management of wastes, especially the compostable ones. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The KMC decided that it will no longer dump harmful garbage in Bancharedanda.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nabin Manandhar, spokesperson for the KMC, shared that a team led by KMC mayor Balendra Shah was hunting more prospective sites in and around Chandragiri, Dakshinkali, Nagarjuna, Tarkeshwar and Banepa (outside the valley) to continue the waste management bid. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The sites available so far for garbage management span from 50 ropanis to 150. The KMC team is still looking for more suitable and less expensive land for the same, said Manandhar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has already started segregation of biodegradable and non-biodegradable garbage from the source since July 17. The Garbage Management Act-2068 BS has a provision of classification of garbage. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Private Garbage Collectors to be Brought Under the Ambit of Law </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although wastage classification project has been implemented in all 32 wards of the KMC, wastages have been managed by private companies in 23 wards while KMC itself manages wastages in remaining nine major wards. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Locals complained those places where KMC had been managing garbage sees continuation in management while garbage remain to be collected and dumped for nearly two months in those wards managed by private companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dwellers in those wards complained that the private sector was engaged in money-making only rather than delivering service. The irresponsibleness towards the public had led to irregular garbage management in those wards, the locals in those wards said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The local level administration in those wards have been warning the private companies of action if they do not collect the garbage from the designated places. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Lalitpur metropolis mayor Chiribabu Maharjan pressed an idea of managing waste within the local government where it is produced. "Attention of the federal government is required for this," he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The roles and responsibilities, modality of coordination among the federal, province and local governments, framework of joint-investment and the ways of managing household, institutional, industrial, electric and post-disaster wastes should be clearly mentioned in the laws, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chandragiri municipality mayor Ghanshyam Giri said the role of Province Government in waste management should be ensured in the law as per the spirit of federalism. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Mayor Giri, level-wise works and responsibilities of the government in production, collection, disposal and the entire management procedures along with their effective implementation should be guaranteed in the new law. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Besides, issues concerning environmental pollution from waste and its negative implications on public health, the responsibilities of three-tier government in waste management, inter-local-level coordination and the utilization of waste as means of economic gains should be the priorities ahead, according to chiefs of other local governments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Alternative Route to Landfill Site </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Process has begun to identify and establish a route to the Bancharedanda landfill site as an alternative to the regular route which gets disrupted by monsoon rains each year, posing challenges to the transport of waste. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The work in this regard has begun in cooperation among the KMC and other 17 local governments in the Kathmandu Valley. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is said the section from Mudkhukhola to Bancharendanda remains disrupted by rains for several weeks, causing challenges in the waste management. A gravel road at Mudkhukhola serving as an alternative access to Bancharedanda is likely to be upgraded soon and the KMC has allocated Rs two million for this project in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A minimum of 200 vehicles transport the garbage managed by the private sector and the KMC daily. Only 150 vehicles are transporting the waste to the dumping site at present due to the ongoing road repair works. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Waste Management</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The waste generated in Kathmandu Valley is being dumped at Sisdol of Kakani Rural Municipality in Nuwakot since 2005, although it was meant to be dumped for two years initially. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">One thousand two hundred metric tonnes of waste is being managed at Sisdol each day. Out of this amount of waste, Kathmandu metropolis alone contributes the highest amount of 500 metric tonnes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that forty per cent of the waste produced in the valley can be managed. Every local level ward is said to be preparing to purchase the materials that can be reused for this purpose. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Experts have suggested segregating the waste into biodegradable and non-degradable at its source itself, reducing the production of waste, using linen or jute bags as an alternative to plastic bag, promotion of 'zero waste' concept and using modern technology in waste management for addressing this perennial problem of managing the solid waste in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => 'waste, management, Kathmandu, Valley, Kirtipur, Sisdole, landfill site, bio, degradable, Balen, Shah', 'description' => '', 'sortorder' => '15502', 'image' => '20220809115231_Kathmandu Valley.jpg', 'article_date' => '2022-08-09 11:51:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15760', 'article_category_id' => '1', 'title' => 'Nepal-USA Chamber of Commerce discusses Trade and Investment with PM Deuba', 'sub_title' => '', 'summary' => 'August 9: A delegation of Nepal-USA Chamber of Commerce and Industry (NUSACCI) led by its President Kiran P Saakha paid a courtesy call to Prime Minister Sher Bahadur Deuba at his official residence in Baluwatar recently.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">August 9: A delegation of Nepal-USA Chamber of Commerce and Industry (NUSACCI) led by its President Kiran P Saakha paid a courtesy call to Prime Minister Sher Bahadur Deuba at his official residence in Baluwatar recently. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting on August 6 was arranged introduce the newly elected NUSACCI executive board members to the prime minister. During the occasion, the delegation also briefed the PM about the activities undertaken by NUSACCI as well as various issues related to Nepal-USA trade and investment.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Issuing a statement, NUSACCI said that Saakha extended sincere thanks and gratitude to Prime Minister Deuba for giving his valuable time to meet the NUSACCI delegation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the meeting, Saakh said that the NUSACCI was a bilateral chamber with over 28 years of existence and also briefed the role played by NUSACCI for strengthening bilateral ties between the two countries in the areas of trade and investment and its stance on early ratification of MCC by parliament.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The USA is one of the major trading partners of Nepal, said the statement, adding that Nepal’s trade balance with the USA was in a deficit since a couple of years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NUSACCI informed that the major share of Nepal export to USA comprises carpet followed by felt and cat and dog food. In view of this, the delegation stressed on an urgent need for the promotion of carpet, readymade garments and pashmina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Saakha said that NUSACCI is always ready to collaborate with the Government of Nepal for promotional activities to boost export to the USA. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another major issue discussed during the meeting was the Trade and Investment Framework Agreement (TIFA) with the USA done in 2011 under which there is a provision of technical assistance but the private sector is not getting the benefit as envisaged in the agreement, the statement added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal is enjoying duty free entry of 77 goods to the USA. “In fact, 5 items categorically cover 77 different HS code items,” the statement further said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Other issues discussed during the courtesy visit included the importance of compensation law, Intellectual Property Right (IPR), attracting American investment in the hydropower sector, promotional activities for export in collaboration with GON. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the meeting, NUSACCI General Secretary Prof Dr Gandhi Pandit said that legal regime and enabling environment play a crucial role in attracting American investment in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting was also attended by NUSACCI board members Brindaban Man Pradhanang, Rajani Rana and Sunil Rajbhandari.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15501', 'image' => '20220809112320_ROS_KTM_6487327.jpg', 'article_date' => '2022-08-09 11:22:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15759', 'article_category_id' => '1', 'title' => 'India not to Levy GST on Transit Cargo from Nepal', 'sub_title' => '', 'summary' => 'August 8: India's goods and services tax (GST) will no longer be levied on transit cargo shipments from Nepal to third countries via India. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: India's goods and services tax (GST) will no longer be levied on transit cargo shipments from Nepal to third countries via India. Until now, only the shipments entering Nepal were exempt of GST. However, the shipping companies used to charge GST on products exported from Nepal at Kolkata, Haldia and Visakhapatnam ports of India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In September 2017, India had issued a notice to concerned bodies not to collect GST on cargo entering Nepal. Since the notification did not say anything about the shipment going out from Nepal, the service providers were charging GST on the goods exported from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Goods and services exported from India to Nepal are also exempt from this tax. The revenue department under the Ministry of Finance of India, in a notice issued on August 3, has made it clear that GST will not be charged on both transit cargo going to and coming out from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After the notice issued of the department, now the shipping companies will not be allowed to collect GST on all container shipments returning from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Industry, Commerce and Supplies had taken the initiative with the concerned bodies of India to remove such taxes. Last month, Commerce Secretary Ganesh Prasad Pandey requested the Indian authorities to remove GST on transit cargo from Nepal to third countries. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Ravi Shankar Sainju, former joint secretary of the ministry, said that this arrangement will have more beneficial for the exporters of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“In the provision made by the GST Council five years ago, it was not clear about the cargo going out through Nepal. Taking advantage of this loophole, they were collecting taxes on the export and empty containers,” said Sainju. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Naresh Agarwal, vice president of Nepal Freight Forwarders Association, said that since GST is charged in the name of various services in Indian ports on containers that have gone from Nepal, now that amount will be saved. “This is a positive aspect of Nepal's overseas trade. This will reduce the cost of doing business,” Agarwal said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15500', 'image' => '20220808041057_1631664081.Clipboard03.jpg', 'article_date' => '2022-08-08 16:10:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15756', 'article_category_id' => '1', 'title' => 'International Women's Trade Fair from August 18', 'sub_title' => '', 'summary' => 'August 8: The International Women’s Trade Fair is all set to kick off at the Heritage Garden in Sanepa, Kathmandu on August 18. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: The International Women’s Trade Fair is all set to kick off at the Heritage Garden in Sanepa, Kathmandu on August 18. The four-day event will conclude on August 22. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The trade fair is going to be organized by the Federation of Women Entrepreneurs’ Association of Nepal (FWEAN).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FWEAN held a press conference on Sunday, August 7 and informed that women entrepreneurs associated with small and medium-scale industries all over the country, traders, and women exporters as well as women entrepreneurs from international countries will participate in the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a fair is being organized for the social and economic empowerment of women. This fair is the sixth edition of the International Women's Trade Fair, which will be inaugurated by Prime Minister Sher Bahadur Deuba. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the organizers, the marketing of the products produced using local tools and resources in Nepal will get exposure to national and international levels through this fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In addition, certificates of excellence in various categories will be awarded as incentives to women entrepreneurs participating in the fair from various districts. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation is also scheduled to organize a one-day conference on August 19 titled 'Building a Sustainable Business to Empower Women'.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15497', 'image' => '20220808124809_fair.jpg', 'article_date' => '2022-08-08 12:47:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15755', 'article_category_id' => '1', 'title' => 'Pokhara Regional Int'l Airport to Operate from January 1, 2023 ', 'sub_title' => '', 'summary' => 'August 8: The Pokhara Regional International Airport will officially come into operation from January 1, 2023.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 8: The Pokhara Regional International Airport will officially come into operation from January 1, 2023. </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 meeting of the board of directors of the Civil Aviation Authority of Nepal (CAAN) on Sunday took a decision to this effect, said CAAN Spokesperson Jagannath Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project worth Rs 22 billion has achieved completion of 98 percent of the construction works so far, he said, adding that a calibration flight would take place in upcoming October. The project that directly connects the major tourist destination, Pokhara, with the globe through international flights spans over 200 hectares of lands. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15496', 'image' => '20220808115737_Pokhara-Airport-800X533.jpg', 'article_date' => '2022-08-08 11:56:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15754', 'article_category_id' => '1', 'title' => 'Cathay Pacific to Operate Hong Kong-Kathmandu Flights from October 1 ', 'sub_title' => '', 'summary' => 'August 7: The Cathay Pacific Airlines will start operating direct flight between Kathmandu and Hong Kong from October 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 7: The Cathay Pacific Airlines will start operating direct flight between Kathmandu and Hong Kong from October 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flag carrier of Hong Kong has obtained permit from the Civil Aviation Authority of Nepal (CAAN) to conduct one flight in a week between Kathmandu and Hong Kong on Saturday, informed CAAN's spokesperson Jagannath Niruala. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Niraula, the airline company has already completed all the process to operate direct flights. The airlines has requested for 12 noon to 1:00 pm's slot while the CAAN is mulling to provide the slot after 8:00 pm, he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, Nepal Airlines has been operating flights from Kathmandu to Hong Kong and vice versa. Hong Kong is considered an important aviation destination due to dominance of Nepali diaspora there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, a total of 26 international airlines including two Nepali companies have been operating international flights to and from the Tribhuvan International Airport at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to COVID-19 pandemic, 30 nations operating flights had been operating flights to and from the TIA but now only 21 nations operate flights. Currently, an average of 70 flights are being operated to and from TIA on a daily basis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has inked aviation agreement with 40 countries so far. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-07', 'modified' => '2022-08-07', 'keywords' => 'flight, Kathmandu, Hong Kong, Cathay, Pacific, airlines, CAAN, TIA', 'description' => '', 'sortorder' => '15495', 'image' => '20220807094102_Cathay-Pacific-Aircraft-e1557145681253-752x348.jpg', 'article_date' => '2022-08-07 09:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15752', 'article_category_id' => '1', 'title' => 'Arrival of Chinese Tourists Improving', 'sub_title' => '', 'summary' => 'August 5: The arrival of Chinese tourists, which had come to a standstill after the outbreak of coronavirus, has been encouraging in recent months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 5: The arrival of Chinese tourists, which had come to a standstill after the outbreak of coronavirus, has been encouraging in recent months. The arrival of Chinese tourists increased by 250 percent in July compared to June. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Immigration, a total of 451 Chinese tourists arrived in Nepal in June, which increased to 1, 593 in July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before the start of the pandemic, altogether 10, 808 Chinese tourists had arrived in Nepal in July 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The arrival of Chinese tourists has increased after China eased the restrictions imposed to curb the viral outbreak. However, China is still enforcing lockdown in some of its cities. According to media reports, lockdown is still in place in China’s southern city of Sanya and Wuhan, the origin of coronavirus. But the lockdown is not as strict as it was before as most of the Chinese citizens have been vaccinated against the virus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chinese and Indian tourists form the backbone of Nepal’s tourism industry. The two countries are also the most populous countries in the world. China’s population is more than one billion and India’s population is a little less. Indian tourists do not require any visa to visit Nepal. Hundreds of thousands of tourists from the two countries travel worldwide every year. Nepal’s tourism sector can benefit a lot if it can tap in the potential of Indian and Chinese tourists.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-05', 'modified' => '2022-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '15493', 'image' => '20220805035319_1659677829.296610149_625118472144142_1629395372382313309_n.jpg', 'article_date' => '2022-08-05 15:52:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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former non gazette officer of the District Development Committee Office, Kalikot Raj Bahadur Bam; former Local Adaptation Plan for Action (LAPA) Programme Coordinator of District Development Committee Kalikot Kamal Prasad Khanal; Building Construction Consumer Committee Officer of Allo Bhango Processing Center, Kalikot and former technician of the ,Agriculture Development Office Kalikot Paras Ratna Prasad Pandey, separately. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the anti-graft body, the CIAA filed the case against seven people, including Bharat Bahadur Budha Thapa, a forest officer of Division Forest Office, Mugu after they were found involved in embezzling funds during the construction of a tourist trail from Chankheli Himal to Dudhtal under Mugu's Chayanath Rara Municipality-14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The case against Ratna Prasad Pandey, the then technical assistant of Kalikot, who is now the official of Guthichour Rural Municipality, Jumla, was registered for his role in embezzling government and public property during the agricultural training programme conducted by the District Agricultural Development Office, Kalikot in the fiscal year 2013/14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A case has also been registered against the Consumers Construction Committee and its office bearers including President Nanda Prasad Pandey, Secretary Narendra Prasad Pandey and Treasurer Binita Rana Pandey for embezzling funds by creating fake bills for the construction of Allo Bhango Processing Center in Kalikot in the fiscal year 2013/14. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The commission has registered a case in the special court against the then non-gazetted officer Raj Bahadur Bam of Kalikot who was involved in fraudulent activities in the purchase of sewing machines and transportation of the goods in the programme under the Under Privileged Upliftment Development Committee run in Kalikot during the fiscal year 2013/14.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The authority filed the case against Kamal Prasad Khanal, former LAPA Programme Coordinator of the District Development Committee, Kalikot, on the charge that he had made a hoarding board for propaganda purpose under the Nepal Climate Change Assistance Program in FY 2013/14, by including it in a fake payment scheme.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15511', 'image' => '20220810034944_1660084065.Clipboard22.jpg', 'article_date' => '2022-08-10 15:49:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15769', 'article_category_id' => '1', 'title' => 'Cooperatives Under Pressure to Increase Interest Rates', 'sub_title' => '', 'summary' => 'August 10: As the savings and credit cooperatives under increasing pressure due to liquidity crisis, the operators of the cooperatives have been pressing increase in reference interest rate of the cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 10: As the savings and credit cooperatives under increasing pressure due to liquidity crisis, the operators of the cooperatives have been pressing increase in reference interest rate of the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The cooperatives have been demanding a review of the reference interest rate, saying that after the banks and financial institutions increased the interest, the deposits started moving from the cooperatives to the banks. The Federal Cooperative Department has been applying a reference interest rate of 16 percent on cooperatives since February 27. The interest rate fixed four months ago is not relevant in the market and the cooperatives have launched a campaign demanded its review.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Paritosh Paudyal, president of Nepal Federation of Savings Credit Cooperative Unions Ltd (NEFSCUN), said that as banks and financial institutions are paying high interest on deposits due to lack of liquidity, the reference interest rate of cooperatives should also be changed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> “The interest rate of banks has reached as much as 19 percent at present. If the reference interest rate of cooperatives is not reviewed in time, it may create a situation where cooperatives might have to violate it,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In February, the reference interest rate determination committee meeting decided to hold a meeting every 4 months and review it. However, the meeting of the committee has not been held even after 4 months after the implementation of the interest rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Om Devi Malla, Senior Vice President of the National Cooperative Federation and member of the Interest Rate Recommendation Committee said that the department is reluctant to hold a meeting of the committee. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“We requested the registrar to call a meeting according to the decision of the committee. However, the registrar refused to call the meeting stating that the minister does not think the interest rate should be increased,” she said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Some time ago, Minister for Land Management, Cooperatives and Poverty Alleviation Shashi Shrestha said during a public programme that the reference interest rate should not be increased under any circumstances.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Amid increasing pressure to revise the interest rate, the department formed a technical committee under the coordination of Deputy-Registrar Tolraj Upadhyay. General Manager of National Cooperative Federation Chitra Kumari Subba, Chief Executive Officer of National Cooperative Bank Badri Kumar Guragain and Chief Executive Officer of NEFSCUN Prakash Prasad Pokharel are members of the committee. Department sources say that the committee is ready to hold a meeting only after the technical committee submits its report.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After the reference interest rate was not reviewed earlier in February, the cooperatives under the leadership of the Federation of Cooperatives staged a sit-in protest at the department.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In order to manage the interest rate of the cooperatives, the Cooperatives Act 2074 has a provision for the reference interest rate. According to section 51 of the Act, there will be an arrangement for representative members of the Ministry of Cooperatives, Ministry of Finance, Nepal Rastra Bank, National Cooperative Development Board, Federation of Cooperatives and Subject Cooperative Associations under the coordination of the Federal Registrar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the provisions of the Cooperative Act and Regulations, there is a provision to determine the reference interest rate for cooperatives based on the average interest of commercial banks, the average interest of savings and credit cooperatives, and the average interest of cooperative banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the reference interest rate is the maximum limit for the interest on loan investment of cooperatives, it has not been effectively implemented. However, due to lack of liquidity, institutions operating in urban areas are charging higher interest rates than the fixed rates.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Minraj Kandel, president of the National Cooperative Federation said that the problem of liquidity increased due to the increase in the number of people demanding the return of savings in some cooperatives. He added that in this situation, it is necessary to increase the reference interest rate in order to increase the deposit interest rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, in an appeal issued last Sunday, the Federation of Cooperatives also demanded to review the reference rate saying that the limit has caused difficulties to the cooperatives. Similarly, the Federation has been advocating for a system of automatic interest rate of the cooperative based on the market.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15510', 'image' => '20220810012446_1660107399.Sahakari 12.jpeg', 'article_date' => '2022-08-10 13:24:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15768', 'article_category_id' => '1', 'title' => 'CNI Jobs and Skills Fair 2022 in November', 'sub_title' => '', 'summary' => 'August 10: The CNI Jobs and Skills Fair-2022 is all set to be organized in Kathmandu from November 3 to 20, with the participation of 200 companies of national and international level.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 10: The CNI Jobs and Skills Fair-2022 is all set to be organized in Kathmandu from November 3 to 20, with the participation of 200 companies of national and international level. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The aim of organizing the fair is to reduce the gap between the availability of skills in the market, the employers and the unemployed with skill and to make direct contact with the companies, informed the Confederation of Nepalese Industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Organising a press conference in Kathmandu on Tuesday, CNI said that the fair will help in reducing the situation where employers are not able to find skilled manpower, but young people who have learned skills are unemployed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As per CNI, at least 500,000 people seek for employment in the country each year. Even though companies demand employees from drivers to management level, there is no clear connection between employers and job seekers. The aim of the fair is to improve this situation, said CNI. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During the press meet, CNI Vice President Krishna Prasad Adhikari said that there will be coordination between job seekers and employers. According to Adhilari, CNI will also launch an "app" with the aim of making it easier to find jobs by establishing direct contact with the companies participating in the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“The fair is not organized to give out jobs. Rather, it is organized to act as a bridge between the gap between employment and skills,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Stating that this is the first attempt of the confederation, he said that it is time to pay attention to education criteria to meet the demand for the market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Rajesh Agarwal, vice president of the federation said that the fair is also necessary to develop the issues of education, employment and skills as a national debate. He informed that although the CNI is organizing such a fair for the first time in Kathmandu, it will also be held at the state level in the future. He said that an app will be created for contacting the companies that came to the fair and those who need employment can register and apply for employment through the same app.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI also informed that there will be a comprehensive discussion on the needs of employers and meeting the demands of skilled employees. Twiraj Sharma, coordinator of the fair said that companies from India like Tata and other countries will be invited to participate as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The confederation is going to study the job situation and demand before the fair, especially by studying the information technology, hospitality and agriculture sectors. The confederation expects to achieve success in identifying the need for policy and curriculum to create world-class manpower in Nepal through the fair. There will be a comprehensive discussion on skill development, presentations from national and international experts and discussions and contacts with companies for work. Organizers estimate that more than 50,000 people will attend the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15509', 'image' => '20220810010916_cni.jpg', 'article_date' => '2022-08-10 13:07:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15767', 'article_category_id' => '1', 'title' => 'Surya Nepal, the Highest Taxpayer in FY 2021/22', 'sub_title' => '', 'summary' => 'August 10: Surya Nepal Private Limited has emerged as the highest taxpayer during the last fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 10: Surya Nepal Private Limited has emerged as the highest taxpayer during the last fiscal year. According to the Large Taxpayers Office (LTO), the company paid taxes worth Rs 10.72 billion during FY 2021/22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The LTO informed that the amount includes Value Added Tax (VAT), income tax and all other taxes liable to the government. Surya Nepal Private Limited has been operating since 1986. Indian company ITC holds the largest amount of share of Surya Nepal. The Indian company holds 59 percent share while a Nepali company and individuals hold 39 percent share. Similarly, the British American Tobacco Limited holds the remaining two percent shares. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Surya Nepal has been producing cigarettes as well as match sticks, incense sticks and chocolates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Telecommunication Company Limited was the second highest tax payer during the review period. The Government of Nepal holds 91.49 percent shares in the company. The NTC was established 1975 and was registered as Nepal Telecom Company on February 5, 2004. Nepal Telecom paid taxes worth Rs 9.72 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Ncell Axiata Limited, a private sector telecommunication company operating in Nepal, finished third among the top taxpayers. Ncell paid taxes worth Rs 7.79 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gorkha Brewry, which produces beers like Gorkha, Carlsberg, Sanmiguel, and Somersby, was the fourth largest taxpayer during the review period for paying taxes worth Rs 5.69 billion followed by the state-owned Nepal Electricity Authority (Rs 3.95 billion). The NEA purchases electricity produced by state-owned projects as well as private sector and distributes it to the public. It also sells electricity to India when there is surplus production and imports electricity from the neighbouring country during scarcity.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, NIC Asia Bank ranks sixth among the highest taxpayers. The bank paid taxes worth Rs 3.41 billion followed by seventh-placed Nabil Bank (Rs 3.32 billion ), Global IME Bank (Rs 3.21 billion ), Siddhartha Bank (Rs 2.77 billion ), and Rastriya Banijya Bank (Rs 2.65 billion). </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-10', 'modified' => '2022-08-10', 'keywords' => '', 'description' => '', 'sortorder' => '15508', 'image' => '20220810121442_taxxxx.jpg', 'article_date' => '2022-08-10 12:13:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15766', 'article_category_id' => '1', 'title' => ''Increasing COVID-19 Cases Signals Fourth Wave' ', 'sub_title' => '', 'summary' => 'August 9: COVID-19 is on the rise in the country with the increasing number of new cases reported since the past few weeks. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 9: COVID-19 is on the rise in the country with the increasing number of new cases reported since the past few weeks. The surge in the infection rate follows increasing cases in neighbouring India, with easy cross border mobility of people due to the open border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The country has already reported Omicron's sub-variant, BA.5 and its transmission rate is much higher, thus contributing to the surge, according to health workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, the infection rate was over 15 percent against 0.5 percent some weeks earlier. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The infection statistics indicate the occurrence of the fourth wave, according to Dr Samir Kumar Adhikari, joint spokesperson for the Ministry of Health and Population. The government does not officially announce the wave as the statistics themselves suggest it, he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"In the past too, we did not announce any wave. Neither will we do so this time. But the caseload have indicated another wave." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Khageshwor Gelal, senior health administrator at the Epidemiology and Disease Control Division under the Department of Health Services and public health expert Dr Sagar Raj Bhandari concurred with Dr Adhikari on the indication of the occurrence of the fourth wave. "The government does not officially announce the manifestation of the virus. But, hundreds of infection cases taking place in recent days indicate the occurrence of the fourth wave," said Dr Gelal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Infection rate rising above five percent is considered to be another wave, said Dr Bhandari, adding that "the figure at present has been around 15 percent." In general, the rate goes down only after getting to its peak, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although BA.5 sub-variant is transmitted rapidly, it does not turn out to be serious, he said. He urged all people to follow the health protocols and get administered fourth dose of the vaccine. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, in view of the latest infection risks, the ministry has directed health institutions and concerned authorities to manage early treatment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seventeen hospitals across the country have been designated to provide treatment to infected people. Likewise, the government has asked people to follow health protocols like compulsorily wearing facemasks and using sanitizers and not attending and hosting gatherings. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the virus-related deaths that took place lately, 80 percent were found in those who had not taken the COVID-19 vaccine, said Dr Gelal. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15507', 'image' => '20220809054110_CnyztpE007017_20210819_PEPFN1A001.JPG', 'article_date' => '2022-08-09 17:40:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15764', 'article_category_id' => '1', 'title' => 'Banks Increasing Credit Flow Despite Decline in Deposits', 'sub_title' => '', 'summary' => 'August 9: Bank deposits have continued to decline in the first week of August. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 9: Bank deposits have continued to decline in the first week of August. Although the banks faced a setback in deposit collection, they have increased credit flow during this period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the data provided by the Nepal Bankers Association, the deposit collection of banks declined by Rs 4 billion during the first week of August. Deposit collection of banks had declined by Rs 64 billion in the third week of July and by Rs 28 in the fourth week of July. It means that the deposit collection of banks has declined by Rs 96 billion so far in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total deposits of banks by the end of the last fiscal year stood at Rs 4541 billion. It has now decreased to Rs 4446 billion as of August 5. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Spokesperson of Nepal Rastra Bank Dr Gunakar Bhatta says that the banking system witnessed withdrawal of cash in large amount as the Nepal Oil Corporation paid its long-standing dues to the Indian Oil Corporation during the beginning of the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the deposits of banks also declined towards the end of the last fiscal year as the cheques issued by the government were withdrawn during that period, says Bhatta.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the bank deposits have declined, credit flow has increased during the same period. Initially, the banks had reduced credit flow in the first week two weeks of the current fiscal year but have increased credit flow by Rs 2 billion in August.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The credit flow of banks had declined by Rs 10 billion in the third week of July and by Rs 1 billion in the fourth week of July. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The total credit flow of banks as of August 5 stands at Rs 4166 billion. The credit flow of banks was Rs 4175 by the end of the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Banks had been tightening credit flow and focusing on deposit collection due to liquidity crisis. This had helped the banks to maintain the CD ratio as prescribed by the central bank. As of August 5, the average CD ratio of banks stands at 87.69 percent, according to Nepal Bankers Association.</span></span></p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => 'banks, credit, flow, deposit, collection, liquidity crisis, Nepal, Rastra, Bank', 'description' => '', 'sortorder' => '15505', 'image' => '20220809051625_Banks - Copy.jpg', 'article_date' => '2022-08-09 17:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15763', 'article_category_id' => '1', 'title' => 'Government Fails to Execute its Plan to Reopen Problematic Industries', 'sub_title' => '', 'summary' => 'August 9: The government, in the current fiscal year’s budget, has stated that the Hetauda Textile Industry will be brought into operation in a suitable format.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 9: The government, in the current fiscal year’s budget, has stated that the Hetauda Textile Industry will be brought into operation in a suitable format. Arrangements will be made for people holding public positions to wear clothes produced by the Hetauda Textile Industry.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the budget statement of the last fiscal year too, it was also mentioned that proposals will be invited to run the Hetauda Textile Industry in partnership with the private sector. However, both these announcements are not new. The government made efforts to run this industry in the fiscal year 2008/09. However, the government backed off from its plan to operate the industry citing reasons including lack of money to import cotton.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After four years of attempt to run the industry, the cabinet meeting on January 15, 2013 decided to halt the plan to reopen Hetauda Textile Industry Limited. For the last few years, the government has again pledged to reopen the textile industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government, despite failing to reopen the industry for more than a decade, now has announced that it will operate the textile industry in an appropriate format this year and make arrangements for civil servants to use the clothes produced by the same industry. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">It is speculated that the latest announcement will also be limited to the papers as the announcement was made without adequate preparation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the government has announced to open the industry which has remained closed since the last two decades (2000), the Ministry of Industry, Commerce and Supplies and the Industrial Area Management Limited (IDM) are not much active in terms of operational modality, technology and investment required for the industry. The Ministry of Industry had entrusted the project to IDM.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government's share of investment in IDM is expected to come from the assessment of the building and other physical infrastructure of the industry. Even though the industry was handed over to IDM for almost a decade with the government's shares intact, the IDM has not tried to revive the industry. Instead, the IDM is involved in expanding and announcing new industrial areas. The government had formed study committees at different times to operate the ailing industries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Former Secretary Deepak Subedi, who is also the coordinator of the study committee formed two years ago, says that the Hetauda Textile Industry can be operated. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">"You don't need to do much for this. If you fulfil an handful of works, you can run the industry in a way that makes a profit," said Subedi adding, "The latest technology and equipment, good management system, and experienced people will be enough to run the industry rather than political appointments."</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15504', 'image' => '20220809032202_budget new.jpg', 'article_date' => '2022-08-09 15:21:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15762', 'article_category_id' => '1', 'title' => 'Salary Hike won’t Exceed 15 Percent: Finance Minister', 'sub_title' => '', 'summary' => 'August 9: Finance Minister Janardan Sharma has made it clear that the proposal to increase the salary of some civil servants above the rate announced in the budget will not be implemented.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 9: Finance Minister Janardan Sharma has made it clear that the proposal to increase the salary of some civil servants above the rate announced in the budget will not be implemented. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Sharma gave such an assurance during a meeting with the gazetted officers who are protesting against the attempt to increase salaries in an unfair manner against the provisions of the budget.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Krishna Hari Pushkar, secretary at the finance ministry, had even prepared a draft to present it to the Council of Ministers to increase the salary of some gazetted employees by 24.26 percent, stating that the salary scale would be maintained according to the merit order. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, Finance Minister Sharma had announced an increment of just 15 percent in the salaries of all civil servants, army, police, teachers, etc., effective from July 17, during his budget speech on May 29.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The top officials of Finance ministry tried to increase the salary of the gazetted officers at a higher rate than the one announced in the budget while disregarding the instructions of the parliamentary committee. On July 31, the Industry and Commerce and Labor and Consumer Welfare Committee of the Parliament gave instructions to determine the salaries of civil servants according to the order of merit. At present, the salary scale of army and police officers is higher than that of civil servants of the same rank.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The gazetted employees, who were angry with the proposal of increasing salary in an unfair manner, met the finance minister on Monday and pressured him to correct it. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Gopal Pokharel, president of Nepal Civil Service Employee’s Association (NECSEA) informed that Sharma expressed commitment that he will increase the salary according to the budget speech for the time being and settle the unresolved issues by forming a “Pay Commission” as well.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Along with Pokharel, Lekhnath Koirala, president of Civil Service Organization, Hari Bahadur Rawal, president of National Employees Organization, Nepal, Bhuvaneshwar Chaudhary, president of Madhesi Employees Organization, Mohan Ghimire, president of Integrated Government Employees Organization had met Finance Minister Sharma on Monday to discuss this issue.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Rawal, President of National Employees Organization, Nepal informed that Minister Sharma will now implement a 15 percent salary increase. According to Rawal, Minister Sharma has promised to settle issues including the order of merit within and outside the civil service.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">If the proposal of the finance ministry is passed, a section officer will get an increment of 24.26 percent, under secretary 23.35 percent, joint secretary 23.63 percent and secretary 18.41 percent on their salary effective from mid-July. The salary of employees below the non-gazetted first class officer however will increase by just 15 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The non-gazetted first class employees working in Singha Durbar gathered at the Ministry of Finance on Monday and opposed the proposal. The Civil Servants Association Nepal warned that the non-gazetted first class employees of the whole country will be on holiday on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15503', 'image' => '20220809013331_fin sharma.jpg', 'article_date' => '2022-08-09 13:32:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15761', 'article_category_id' => '1', 'title' => 'Solution-Oriented Garbage Management Turning Kathmandu Valley's Trash into Cash ', 'sub_title' => '', 'summary' => 'August 9: The management of biodegradable wastes in Kathmandu Valley is believed to be no longer a pressing problem as garbage management is to begin from mid-August this year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 9: The management of biodegradable wastes in Kathmandu Valley is believed to be no longer a pressing problem as garbage management is to begin from mid-August this year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Identification of a place at Kirtipur in Kathmandu Valley to manage such garbage is likely to offer a viable solution to the valley's pertinent problems. Around 50 ropanis of land has been obtained by the Kathmandu Metropolitan City (KMC) for garbage management. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Initially, around 40,000 kilograms of recyclable wastes would be collected from eight wards of KMC and those would be turned into manure at this site and then sold at subsidized rate. KMC is also keeping an eye out for other viable sites for this purpose. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The metropolis had been dumping all sort of garbage in Bancharedanda and Sisdol in Nuwakot district for nearly a decade and half. The garbage management faced obstructions time and again during this period. The KMC recently identified Kirtipur's site for sustainable and effective management of wastes, especially the compostable ones. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The KMC decided that it will no longer dump harmful garbage in Bancharedanda.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nabin Manandhar, spokesperson for the KMC, shared that a team led by KMC mayor Balendra Shah was hunting more prospective sites in and around Chandragiri, Dakshinkali, Nagarjuna, Tarkeshwar and Banepa (outside the valley) to continue the waste management bid. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The sites available so far for garbage management span from 50 ropanis to 150. The KMC team is still looking for more suitable and less expensive land for the same, said Manandhar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The KMC has already started segregation of biodegradable and non-biodegradable garbage from the source since July 17. The Garbage Management Act-2068 BS has a provision of classification of garbage. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Private Garbage Collectors to be Brought Under the Ambit of Law </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although wastage classification project has been implemented in all 32 wards of the KMC, wastages have been managed by private companies in 23 wards while KMC itself manages wastages in remaining nine major wards. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Locals complained those places where KMC had been managing garbage sees continuation in management while garbage remain to be collected and dumped for nearly two months in those wards managed by private companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Dwellers in those wards complained that the private sector was engaged in money-making only rather than delivering service. The irresponsibleness towards the public had led to irregular garbage management in those wards, the locals in those wards said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The local level administration in those wards have been warning the private companies of action if they do not collect the garbage from the designated places. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Lalitpur metropolis mayor Chiribabu Maharjan pressed an idea of managing waste within the local government where it is produced. "Attention of the federal government is required for this," he said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The roles and responsibilities, modality of coordination among the federal, province and local governments, framework of joint-investment and the ways of managing household, institutional, industrial, electric and post-disaster wastes should be clearly mentioned in the laws, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Chandragiri municipality mayor Ghanshyam Giri said the role of Province Government in waste management should be ensured in the law as per the spirit of federalism. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to Mayor Giri, level-wise works and responsibilities of the government in production, collection, disposal and the entire management procedures along with their effective implementation should be guaranteed in the new law. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Besides, issues concerning environmental pollution from waste and its negative implications on public health, the responsibilities of three-tier government in waste management, inter-local-level coordination and the utilization of waste as means of economic gains should be the priorities ahead, according to chiefs of other local governments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Alternative Route to Landfill Site </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Process has begun to identify and establish a route to the Bancharedanda landfill site as an alternative to the regular route which gets disrupted by monsoon rains each year, posing challenges to the transport of waste. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The work in this regard has begun in cooperation among the KMC and other 17 local governments in the Kathmandu Valley. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is said the section from Mudkhukhola to Bancharendanda remains disrupted by rains for several weeks, causing challenges in the waste management. A gravel road at Mudkhukhola serving as an alternative access to Bancharedanda is likely to be upgraded soon and the KMC has allocated Rs two million for this project in the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A minimum of 200 vehicles transport the garbage managed by the private sector and the KMC daily. Only 150 vehicles are transporting the waste to the dumping site at present due to the ongoing road repair works. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Waste Management</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The waste generated in Kathmandu Valley is being dumped at Sisdol of Kakani Rural Municipality in Nuwakot since 2005, although it was meant to be dumped for two years initially. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">One thousand two hundred metric tonnes of waste is being managed at Sisdol each day. Out of this amount of waste, Kathmandu metropolis alone contributes the highest amount of 500 metric tonnes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that forty per cent of the waste produced in the valley can be managed. Every local level ward is said to be preparing to purchase the materials that can be reused for this purpose. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Experts have suggested segregating the waste into biodegradable and non-degradable at its source itself, reducing the production of waste, using linen or jute bags as an alternative to plastic bag, promotion of 'zero waste' concept and using modern technology in waste management for addressing this perennial problem of managing the solid waste in the Valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => 'waste, management, Kathmandu, Valley, Kirtipur, Sisdole, landfill site, bio, degradable, Balen, Shah', 'description' => '', 'sortorder' => '15502', 'image' => '20220809115231_Kathmandu Valley.jpg', 'article_date' => '2022-08-09 11:51:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15760', 'article_category_id' => '1', 'title' => 'Nepal-USA Chamber of Commerce discusses Trade and Investment with PM Deuba', 'sub_title' => '', 'summary' => 'August 9: A delegation of Nepal-USA Chamber of Commerce and Industry (NUSACCI) led by its President Kiran P Saakha paid a courtesy call to Prime Minister Sher Bahadur Deuba at his official residence in Baluwatar recently.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">August 9: A delegation of Nepal-USA Chamber of Commerce and Industry (NUSACCI) led by its President Kiran P Saakha paid a courtesy call to Prime Minister Sher Bahadur Deuba at his official residence in Baluwatar recently. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting on August 6 was arranged introduce the newly elected NUSACCI executive board members to the prime minister. During the occasion, the delegation also briefed the PM about the activities undertaken by NUSACCI as well as various issues related to Nepal-USA trade and investment.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Issuing a statement, NUSACCI said that Saakha extended sincere thanks and gratitude to Prime Minister Deuba for giving his valuable time to meet the NUSACCI delegation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the meeting, Saakh said that the NUSACCI was a bilateral chamber with over 28 years of existence and also briefed the role played by NUSACCI for strengthening bilateral ties between the two countries in the areas of trade and investment and its stance on early ratification of MCC by parliament.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The USA is one of the major trading partners of Nepal, said the statement, adding that Nepal’s trade balance with the USA was in a deficit since a couple of years. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NUSACCI informed that the major share of Nepal export to USA comprises carpet followed by felt and cat and dog food. In view of this, the delegation stressed on an urgent need for the promotion of carpet, readymade garments and pashmina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Saakha said that NUSACCI is always ready to collaborate with the Government of Nepal for promotional activities to boost export to the USA. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Another major issue discussed during the meeting was the Trade and Investment Framework Agreement (TIFA) with the USA done in 2011 under which there is a provision of technical assistance but the private sector is not getting the benefit as envisaged in the agreement, the statement added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal is enjoying duty free entry of 77 goods to the USA. “In fact, 5 items categorically cover 77 different HS code items,” the statement further said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Other issues discussed during the courtesy visit included the importance of compensation law, Intellectual Property Right (IPR), attracting American investment in the hydropower sector, promotional activities for export in collaboration with GON. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the meeting, NUSACCI General Secretary Prof Dr Gandhi Pandit said that legal regime and enabling environment play a crucial role in attracting American investment in Nepal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting was also attended by NUSACCI board members Brindaban Man Pradhanang, Rajani Rana and Sunil Rajbhandari.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-09', 'modified' => '2022-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '15501', 'image' => '20220809112320_ROS_KTM_6487327.jpg', 'article_date' => '2022-08-09 11:22:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15759', 'article_category_id' => '1', 'title' => 'India not to Levy GST on Transit Cargo from Nepal', 'sub_title' => '', 'summary' => 'August 8: India's goods and services tax (GST) will no longer be levied on transit cargo shipments from Nepal to third countries via India. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: India's goods and services tax (GST) will no longer be levied on transit cargo shipments from Nepal to third countries via India. Until now, only the shipments entering Nepal were exempt of GST. However, the shipping companies used to charge GST on products exported from Nepal at Kolkata, Haldia and Visakhapatnam ports of India.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In September 2017, India had issued a notice to concerned bodies not to collect GST on cargo entering Nepal. Since the notification did not say anything about the shipment going out from Nepal, the service providers were charging GST on the goods exported from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Goods and services exported from India to Nepal are also exempt from this tax. The revenue department under the Ministry of Finance of India, in a notice issued on August 3, has made it clear that GST will not be charged on both transit cargo going to and coming out from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After the notice issued of the department, now the shipping companies will not be allowed to collect GST on all container shipments returning from Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Industry, Commerce and Supplies had taken the initiative with the concerned bodies of India to remove such taxes. Last month, Commerce Secretary Ganesh Prasad Pandey requested the Indian authorities to remove GST on transit cargo from Nepal to third countries. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Ravi Shankar Sainju, former joint secretary of the ministry, said that this arrangement will have more beneficial for the exporters of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">“In the provision made by the GST Council five years ago, it was not clear about the cargo going out through Nepal. Taking advantage of this loophole, they were collecting taxes on the export and empty containers,” said Sainju. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Naresh Agarwal, vice president of Nepal Freight Forwarders Association, said that since GST is charged in the name of various services in Indian ports on containers that have gone from Nepal, now that amount will be saved. “This is a positive aspect of Nepal's overseas trade. This will reduce the cost of doing business,” Agarwal said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15500', 'image' => '20220808041057_1631664081.Clipboard03.jpg', 'article_date' => '2022-08-08 16:10:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15756', 'article_category_id' => '1', 'title' => 'International Women's Trade Fair from August 18', 'sub_title' => '', 'summary' => 'August 8: The International Women’s Trade Fair is all set to kick off at the Heritage Garden in Sanepa, Kathmandu on August 18. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: The International Women’s Trade Fair is all set to kick off at the Heritage Garden in Sanepa, Kathmandu on August 18. The four-day event will conclude on August 22. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The trade fair is going to be organized by the Federation of Women Entrepreneurs’ Association of Nepal (FWEAN).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FWEAN held a press conference on Sunday, August 7 and informed that women entrepreneurs associated with small and medium-scale industries all over the country, traders, and women exporters as well as women entrepreneurs from international countries will participate in the fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a fair is being organized for the social and economic empowerment of women. This fair is the sixth edition of the International Women's Trade Fair, which will be inaugurated by Prime Minister Sher Bahadur Deuba. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the organizers, the marketing of the products produced using local tools and resources in Nepal will get exposure to national and international levels through this fair.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In addition, certificates of excellence in various categories will be awarded as incentives to women entrepreneurs participating in the fair from various districts. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation is also scheduled to organize a one-day conference on August 19 titled 'Building a Sustainable Business to Empower Women'.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15497', 'image' => '20220808124809_fair.jpg', 'article_date' => '2022-08-08 12:47:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15755', 'article_category_id' => '1', 'title' => 'Pokhara Regional Int'l Airport to Operate from January 1, 2023 ', 'sub_title' => '', 'summary' => 'August 8: The Pokhara Regional International Airport will officially come into operation from January 1, 2023.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 8: The Pokhara Regional International Airport will officially come into operation from January 1, 2023. </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 meeting of the board of directors of the Civil Aviation Authority of Nepal (CAAN) on Sunday took a decision to this effect, said CAAN Spokesperson Jagannath Niraula. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project worth Rs 22 billion has achieved completion of 98 percent of the construction works so far, he said, adding that a calibration flight would take place in upcoming October. The project that directly connects the major tourist destination, Pokhara, with the globe through international flights spans over 200 hectares of lands. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-08', 'modified' => '2022-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '15496', 'image' => '20220808115737_Pokhara-Airport-800X533.jpg', 'article_date' => '2022-08-08 11:56:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15754', 'article_category_id' => '1', 'title' => 'Cathay Pacific to Operate Hong Kong-Kathmandu Flights from October 1 ', 'sub_title' => '', 'summary' => 'August 7: The Cathay Pacific Airlines will start operating direct flight between Kathmandu and Hong Kong from October 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 7: The Cathay Pacific Airlines will start operating direct flight between Kathmandu and Hong Kong from October 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The flag carrier of Hong Kong has obtained permit from the Civil Aviation Authority of Nepal (CAAN) to conduct one flight in a week between Kathmandu and Hong Kong on Saturday, informed CAAN's spokesperson Jagannath Niruala. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Niraula, the airline company has already completed all the process to operate direct flights. The airlines has requested for 12 noon to 1:00 pm's slot while the CAAN is mulling to provide the slot after 8:00 pm, he shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, Nepal Airlines has been operating flights from Kathmandu to Hong Kong and vice versa. Hong Kong is considered an important aviation destination due to dominance of Nepali diaspora there. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, a total of 26 international airlines including two Nepali companies have been operating international flights to and from the Tribhuvan International Airport at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to COVID-19 pandemic, 30 nations operating flights had been operating flights to and from the TIA but now only 21 nations operate flights. Currently, an average of 70 flights are being operated to and from TIA on a daily basis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal has inked aviation agreement with 40 countries so far. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-07', 'modified' => '2022-08-07', 'keywords' => 'flight, Kathmandu, Hong Kong, Cathay, Pacific, airlines, CAAN, TIA', 'description' => '', 'sortorder' => '15495', 'image' => '20220807094102_Cathay-Pacific-Aircraft-e1557145681253-752x348.jpg', 'article_date' => '2022-08-07 09:39:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15752', 'article_category_id' => '1', 'title' => 'Arrival of Chinese Tourists Improving', 'sub_title' => '', 'summary' => 'August 5: The arrival of Chinese tourists, which had come to a standstill after the outbreak of coronavirus, has been encouraging in recent months.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 5: The arrival of Chinese tourists, which had come to a standstill after the outbreak of coronavirus, has been encouraging in recent months. The arrival of Chinese tourists increased by 250 percent in July compared to June. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Immigration, a total of 451 Chinese tourists arrived in Nepal in June, which increased to 1, 593 in July.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Before the start of the pandemic, altogether 10, 808 Chinese tourists had arrived in Nepal in July 2019. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The arrival of Chinese tourists has increased after China eased the restrictions imposed to curb the viral outbreak. However, China is still enforcing lockdown in some of its cities. According to media reports, lockdown is still in place in China’s southern city of Sanya and Wuhan, the origin of coronavirus. But the lockdown is not as strict as it was before as most of the Chinese citizens have been vaccinated against the virus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chinese and Indian tourists form the backbone of Nepal’s tourism industry. The two countries are also the most populous countries in the world. China’s population is more than one billion and India’s population is a little less. Indian tourists do not require any visa to visit Nepal. Hundreds of thousands of tourists from the two countries travel worldwide every year. Nepal’s tourism sector can benefit a lot if it can tap in the potential of Indian and Chinese tourists.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-05', 'modified' => '2022-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '15493', 'image' => '20220805035319_1659677829.296610149_625118472144142_1629395372382313309_n.jpg', 'article_date' => '2022-08-05 15:52:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
