July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term…
July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term…
July 29: A parliamentary committee has concluded that most of the national pride projects have become…
July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on…
July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of…
July 28: After studying up to a certain level, a person desires for…
July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August…
July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy.…
July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY…
July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax…
July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the…
July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from…
July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive.…
July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All…
July 27: Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable…
July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare…
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After the implementation of the new policy rate by the Nepal Rastra Bank, the interest rate of inter-bank transaction and repo as well as the discount rate of treasury bills have also increased.</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"">Banks have offered interest up to 8.55 per cent for the repurchase agreement (repo) issued by Nepal Rastra Bank on Thursday. </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"">Banks have bid as much as Rs 60 billion for a repo of Rs 30 billion. Out of the 87 bids from 21 institutions, the minimum interest rate was 8.2 per cent, and the average interest rate was 8.38 per cent, said NRB Spokesperson Dr Gunakar Bhatt.</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 last fiscal year, Nepal Rastra Bank issued repo worth Rs 70 billion three times. Back then, the banks had offered a maximum interest rate of 4.8 per cent only. In the current fiscal year, the NRB has introduced a policy of tightening credit by increasing interest rates. In the monetary policy, the bank rate has been increased by 1.5 percentage points to 8.5 per cent.</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 deadline for standing liquidity facility (SLF) taken by banks for liquidity management has also been reduced by 2 days and is now fixed at 5 days. Similarly, the policy rate has increased from 5.5 per cent to 7 per cent, and the deposit collection rate has increased from 4 per cent to 5.5 per cent. </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 NRB has not issued instructions to implement these provisions, it has already increased the interest rate, which has affected 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"">Even though the NRB has increased the policy rate, the interest rate of inter-bank transactions has also reached 8.48 per cent. The interbank rate was less than 7 per cent until the central bank increased the policy 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, there was a provision to change the policy rate only after the NRB issued a directive, but this year it has already been implemented before issuing such directive. Spokesperson Bhatt said that the policy rate announced by the NRB through the monetary policy has already been implemented by the concerned department.</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> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15447', 'image' => '20220729030330_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-29 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15704', 'article_category_id' => '1', 'title' => 'National Pride Projects Lack Clear Modality: Parliamentary Committee', 'sub_title' => '', 'summary' => 'July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic. The National Interest Coordination Committee of the upper house reached such conclusion based on a recent study conducted by the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The study report states that most of the national pride projects are in problem because of lack of preparedness while announcing the project as well as lack of clear modality in implementing those projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the report, the National Planning Commission must take into consideration the topics such as strategic development and fiscal, technical and managerial issues while announcing national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The parliamentary committee report has also pointed out the need to take into consideration the assessment of financial and social aspects and environmental impact assessment along with employment opportunities, poverty alleviation, inclusion and end of discrimination among other issues while preparing the base for a national pride project.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Dil Kumari Rawal Thapa said that the study team found that the NPC did not have any clear basis while selecting national pride projects. As a result, even the projects without any preliminary feasibility report have been included as national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The report has suggested the government to ensure that the design of the national pride projects maintains balance between development and environment and causes minimal damage to the forest areas. </span></span></p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15446', 'image' => '20220729094952_nepal-parl.jpg', 'article_date' => '2022-07-29 09:49:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15705', 'article_category_id' => '1', 'title' => 'US Assistant Secretary Lu in a ‘Meaningful’ Visit to Nepal', 'sub_title' => '', 'summary' => 'July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday for a tow-day visit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the first highly-ranked diplomat of the USA to visit Nepal five weeks after the Government of Nepal decided not to proceed ahead with the State Partnership Programme (SPP) of the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu’s visit is considered to be ‘meaningful’ in this context.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The senior official of the USA visited Nepal via New Delhi at a time when Prime Minister Sher Bahadur Deuba’s US visit has become uncertain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu, who is in charge of the South and Central Asia Affairs, is scheduled to meet Prime Minister Sher Bahadur Deuba and Minister for Foreign Affairs Dr Narayan Khadka today (July 29). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prime Minister Deuba was preparing to visit the USA between mid-July to the end of July but the visit was put on hold after the government decided not to move ahead with the SPP project. The USA is reportedly in favour of implementing the SPP in Nepal to counter the growing influence of China. It has been learnt that the USA is annoyed with Nepal’s decision not to forward the SPP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the Council of Ministers had decided not to endorse the SPP, the government has not written any official letter to the US government in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is believed that Lu will discuss this issue with PM Deuba as well as his stalled visit to the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the US embassy in Nepal has said that Lu is in a routine visit to this region. A statement issued by the US embassy says that Lu will be handing over the Award for Corporate Excellence Purnaa, a U.S. manufacturing company in Nepal that promotes ethical manufacturing by empowering traditionally marginalized people and survivors of exploitation. Assistant Secretary Lu will also meet with business, civil society, and government leaders during his two-day visit, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the same official who had warned top leaders of Nepal in February that the US government will review its relation with Nepal of the Millennium Challenge Corporation (MCC) is not endorsed by parliament. Prior to that, he had visited Nepal in November and set the deadline of February 8 for endorsing the MCC grant agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15445', 'image' => '20220729101815_AS-Donald-Lu-1.jpg', 'article_date' => '2022-07-29 10:17:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15703', 'article_category_id' => '1', 'title' => 'Government to Re-operate Biratnagar Jute Mills', 'sub_title' => 'Feasibility Study underway to Re-operate Janakpur Cigarette Factory: Minister Badu ', 'summary' => 'July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu made such remarks after an on-site visit to the Biratnagar Jute Mills, which is currently shut down. Prior to this, two former industry ministers had also made such commitment but failed to do so. </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"">Back in 2018, the then Industry Minister Matrika Prasad Yadav had also visited Biratnagar Jute Mills on May 5 and pledged to reopen the defunct industry. Before that, the then Industry Minister Mahesh Basnet had also made the same announcement. However, Nilhari Kafle, who was appointed the chairman of the mill by Basnet, was dragged into a controversy and subsequently stepped down. </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"">Minister Badu has once again assured to operate the mill along with Janakpur Cigarette Factory, Nepal Metal Industry, Gorakhali Rubber Industry, Hetauda Textile, Birgunj Sugar Mill among other sick industries.</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"">Badu said that the government is conducting feasibility study to revive Janakpur Cigarette Factory. </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"">Talking to media persons after monitoring the factory that is defunct at present, Minister Badu informed that the government would take decision after conducting studies on modalities to re-operate sick industries across the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu said he was making on-site visit of the factory as a part of the government's plan to re-operate sick industries. The government, he added, aimed to reduce trade deficit by substituting imports in collaboration with the private sector. He added that the government intends to increase productivity and create job opportunities through this initiative. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that he arrived in Janakpur to take stock of the “once very famous factory” and the condition of its machineries as well as its assets. </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"">He was accompanied by Minister for Physical Infrastructure Development of Madhesh Province Ram Saroj Yadav and provincial government's employees among others. </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"">Minister Badu and provincial ministers also discussed ways to re-operate the Janakpur Cigarette Factory. (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15444', 'image' => '20220728031527_1476600216_jute_mills_vCafOj3vah..jpg', 'article_date' => '2022-07-28 15:14:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15702', 'article_category_id' => '1', 'title' => 'Promoting Handicraft Products Gives Self-Satisfaction to Archana Singh', 'sub_title' => '', 'summary' => 'July 28: After studying up to a certain level, a person desires for job.', '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"">July 28: After studying up to a certain level, a person desires for job. Nobody tends to waver from the job if it is attractively paid, is safe and is associated with an international organisation. There are hardly any people who leave such jobs and opt for other professions. However, Archana Singh, owner of Craftmandu Handicraft is one of such rare figures.</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"">Singh was working in the UNODC, a United Nations agency on drugs and crime reduction. Singh was the programme coordinator for Nepal in that organisation. However, she gave up the job and got into the field of handicraft. She feels that she is better known by the handicraft business than by her UN job. </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"">“I get self-satisfaction from it. Here, I have been able to contribute something for others,” says Singh.</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"">She worked for UNODC and ILO for about 16 years. After that, thinking that he should to do something by herself, she chose handicraft, an area of her interest since her childhood. </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"">“When I joined, I did not have much knowledge about handicrafts, but I left my job and came here because it was an area of my interest since childhood,” she said. Her family and relatives did not like her decision to quit her job. But when the handicraft business got better, everyone encouraged her to work towards her interest. She says it is easy to achieve more success in business with the encouragement of family and society.</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"">Singh says that because of the urge to do something in the field of handicrafts, her interest towards job started fading. </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"">“There was no risk in the job. I was paid monthly. But I chose this profession to fulfil my desire to do something in the field of handicrafts.”</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"">When she started a new venture, it was very challenging to compete with established businessmen years ago. However, she kept marching forward. Singh says that although she does not produce, she buys and sells the products of other women and street children and supports such entrepreneurs.</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"">She said that after completing her master's degree in international development from America, she came back to do something in her country. She shared, “Despite coming here and working in various organizations for years, the dream of promoting Nepali products by working in the handicraft sector did not leave my mind.”</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"">Today she is established as a successful woman entrepreneur. Singh herself also paints and makes pots. She said that she only promotes Nepali products while combining her dream and business. </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"">At her Craftmandu Handicraft in Jhamsikhel, Lalitpur, children's clothes, kurtas, pashminas, gift items, cups, hand-painted cards, leather bags, purses, chocolates, silver items are sold. She says that before the earthquake and the Covid-19 pandemic, about 80 percent of the customers were foreigners, but now, the number of foreign customers has declined.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15443', 'image' => '20220728022352_936448_5129363.jpg', 'article_date' => '2022-07-28 14:23:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15701', 'article_category_id' => '1', 'title' => 'PATA Nepal to Organise 'Nepal Sales Mission-2022' in Thailand ', 'sub_title' => '', 'summary' => 'July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Sales Mission-2022 is going to be organised with the objective of helping the post COVID-19 tourism revival campaign. </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""> According to PATA Nepal, 20 tourism entrepreneurs, affiliated with PATA Nepal, and professionals would participate in the mission going to be organised in collaboration with Nepal Airlines Corporation, Thai Travel Agents Association, SS Group Thailand and Jawalakhel Group of Industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, more than 40 stakeholders associated to the tourism sector including Thai Travel Agents and Tour Operators, media would also participate in the mission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s Ambassador to Thailand, Ganesh Prasad Dhakal, would be the chief guest of the Nepal Sales Mission where CEO of PATA International, Liz Ortiguera, would participate as the special guest and keynote speaker. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of PATA Nepal chapter, Bibhuti Chand Thakur, expressed the belief that the Nepal Sales Mission would be the best forum to promote tourism potential between Nepal and Thailand, with Gautam Buddha international Airport already in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepali delegation would also participate in the 'Sixth PATA Destination Marketing Forum' to be held in Thailand from August 2-4, reads a press statement issued by PATA Nepal on Wednesday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15442', 'image' => '20220728124411_PN-Nepal-Sales-Mission-2022-Thailand.jpg', 'article_date' => '2022-07-28 12:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15700', 'article_category_id' => '1', 'title' => 'Government to Adopt Trade Integration Strategy', 'sub_title' => '', 'summary' => 'July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. ', '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"">July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. The Ministry of Industry, Commerce and Supplies has initiated the process of taking suggestions from stakeholders to finalize the 'Nepal Trade Integration Strategy 2079'.</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"">While Nepal is preparing to be upgraded from underdeveloped to developing country in the next few years, the government is preparing an integrated strategy, considering opportunities and challenges. </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"">Such strategy is going to be formulated during the Fifteenth Development Plan (2077-2081) with the objective of building an independent and socialist-oriented economy.</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 preliminary strategy prepared by the government was discussed in Birgunj on Wednesday. The ministry said that the integrated strategy will be finalized after taking suggestions from stakeholders. The government prepared a draft of the strategy with the support of the European Union, Nepal Trade and Investment Program and the Investment Program Facility.</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"">An expert group led by former Finance Secretary Rameshwar Khanal prepared the draft of the strategy. Khanal informed that the strategy focuses on the issue of the impact on foreign trade and how to solve it when Nepal transitions to the list of developing 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"">After Nepal's upgrade, there will be no significant difference in trade with India, says Khanal. Experts say that the main purpose of the strategy is to find solutions to challenges and opportunities in trade with the European Union and the United States. Currently, the ratio of gross domestic product (GDP) and foreign trade is 39.3 percent, and the target is to increase it to 55 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"">Khanal informed that the ratio of exports of goods and services to GDP is 6.61 percent and the goal is to increase it to 20 percent. The strategy also emphasizes on studying what goods are being imported by other countries and from where, in order to increase exports and the possibility of Nepal exporting such goods to those 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"">The government is planning to strengthen economic diplomacy to increase exports. At present, diplomatic missions and ambassadors in various countries will be mobilized to attract export trade and investment.</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 policy is to build business-supporting infrastructure and strengthen food security. </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"">Pushpa Sharma, a member of the expert group, said that plans are being made to this end.</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"">Improving quality and industrial standards will also be emphasized. </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"">Another expert, Rojan Bajracharya, said that while modernizing the production process, import substitution and export enhancement will be carried out strategically.</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"">Ganesh Prasad Lath, president of Madhes Province chapter of FNCCI, said that the efficiency of the business strategy depends on its successful implementation. </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"">Subodh Kumar Gupta, president of Birganj Chamber of Commerce and Industry, Mohan Sharma, president of Jitpur-Simara Chamber of Commerce and Industry, leather industrialist Mohammad Junaid Iftkhan and others said that the business strategy should focus on reducing the cost of production. They claimed that unless the cost of domestic production is cheap, it cannot survive in the domestic market, let alone exports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15441', 'image' => '20220728124828_1658961573.Clipboard25.jpg', 'article_date' => '2022-07-28 12:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15699', 'article_category_id' => '1', 'title' => 'Nepal Imported 1,807 EVs during Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the data unveiled by the Department of Customs, majority of EVs imported last year came from China. Altogether 823 such vehicles arrived here from China followed by 696 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 184 EVs were brought in Nepal from South Korea, 78 EVs were imported from Japan, 23 from the UK, one from France and the remaining from other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the EVs imported were of 100 kilowatt and 150-200 kilowatt in capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government in the budget of last fiscal year had announced concession in excise duty for the EVs following which encouraging number of EVs made its way to Nepal during last fiscal year compared to the previous fiscal year (FY 2020/21) during which only 261 EVs were imported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government collected over Rs 1.43 billion in revenue from the import of 1,807 EVs in the last fiscal year while over Rs 5 billion flew out of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15440', 'image' => '20220728075905_electricvehicle-1611985899.jpg', 'article_date' => '2022-07-28 07:58:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15698', 'article_category_id' => '1', 'title' => 'Industrialists Present their Problems before Industry Minister', 'sub_title' => '', 'summary' => 'July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During a meeting organized by the Morang Merchants Association, 76-year-old Agarwal told the minister either to correct the tax rates or tell them to jump in the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The iron industry, which I have been operating for 47 years, is now closed,” said Agarwal, adding that the government is punishing the industry without any fault.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Naveen Rijal, president of Morang Merchants Association, said that even though the people have established the system that the leaders wanted through the people’s movement, the politicians are failing to address their aspirations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While informing Minister Badu about the problems faced by the industrial sector due to Russia-Ukraine war, Rijal asked him to take diplomatic initiative for the operation of the Mirganj bridge. He said that the government should take the initiative to open trade with Bangladesh for the industrial development of eastern Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that due to the delay in operation of the Mirganj bridge, the price of every item is more by Rs 2 per kg as they have to travel 105 kilometers more to reach Sunsari's Bhantabari transit point. Rizal said that the government is not serious about the issue of GI wire, vegetable oil, and sanitary pads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pradeep Murarka, the acting president of the Chamber of Industry Morang, said that although India has completed all necessary processes to bring cargo train to the Integrated Check Post, the Nepali side has not done anything concrete to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhim Ghimire, president of Province chapter of the Confederation of Nepalese Industry, said that the interest of bank loans should be brought down to single digit, the insurance companies should stop carteling, and a special economic zone should be built on a PPP model on 600 bigha of land in Amduwa.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Another entrepreneur, Shankarlal Agarwal, demanded the government to implement its commitment. Tara Chand Khaitan, the former president of the Morang Merchants Association, demanded the revocation of the provision to renew the EXIM code to stop smuggling through the open border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hulas Wire’s Director Yukti Golcha, Union Vice President Bikas Begwani, Vice President Anil Sah, Gopal Aggarwal, Pawan Sharda, and Basudev Golyan informed the minister about the problems faced by the industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"For Nepali consumers, import can be substituted only by giving preference to Nepali products," Minister Badu said, adding, "The government itself will bring the sick industries back into operation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15439', 'image' => '20220727080824_1658875100.Clipboard19.jpg', 'article_date' => '2022-07-27 20:07:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15697', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Recovers CCTV Footage which is ‘Unclear’', 'sub_title' => '', 'summary' => 'July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.', '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"">July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.</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"">Nevertheless, the Parliamentary Special Investigation Committee discussed and analyzed the CCTV footage which it obtained with much difficulty. The committee also called experts from the Forensic Science Laboratory of the Nepal Police and held a discussion on Tuesday. According to sources, the footage of the night of May 2</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">8</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">, which was deleted from the CCTV, has been recovered but the scenes are not clear.</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 realizing that the CCTV footage is not clear, the committee called experts to discuss about it. In Tuesday's meeting, the committee members asked the experts about the degradation of the video quality. The sought explanation regarding the absence of date and inability to play 51 clips as a single video. According to one of the members of the investigation committee, the experts said it was due to technical reasons and too many system checks.</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"">Surendra Aryal, member secretary of the committee, said that the experts gave their opinion on the things that were not clear. In response to the question of what was seen on the CCTV, he said, “The CCTV showed what was supposed to be shown. Now everything will be included in the report.” According to Aryal, the committee will hold a meeting at 11 am on Wednesday and start writing the report. Aryal also said that the discussion will be continued and conclusion will be drawn based on not only CCTV footage but all other means of investigation 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""> “CCTV is not the sole evidence. We have other tools as well to reach the truth Aryal 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""> According to sources, the CCTV footage was unable to give clear conclusion. There is a possibility that there may be differences of opinion among the committee members while writing the report. Sources claim that there may be differences between the MPs of the ruling parties and the opposition party UML regarding the conclusion. All the members of the committee agree that the deadline will not be extended again. The committee was initially given a deadline of 10 days, but later 7 days were extended. There are 2 days left for the extended deadline to expire.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15438', 'image' => '20220727050930_20220707122044_ROS_KTM-4187.jpg', 'article_date' => '2022-07-27 17:08:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15696', 'article_category_id' => '1', 'title' => 'Importers Express Concern over Ban on Import of Liquor', 'sub_title' => '', 'summary' => 'July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.', '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"">July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency 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 Nepal Liquor Importers Association held a press conference in the capital on Tuesday and said that the import of ready-made liquor will cost USD 15 per litre, but the same liquor when sold to foreigners in hotels, restaurants and bars can earn as much as USD 120 per litre.</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"">"When importing liquor, an average of USD 15 is lost per litre. But when it is sold from hotels, restaurants and bars, it earns USD 120 per litre,” said Anil Kumar Agarwal, president of the association. </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"">Agarwal also presented the data that the import of ready-made liquor will result in an outflow of USD 1.2 million (Rs 1.5 billion) and the government will receive Rs 3.3 billion as revenue from it. He claimed that the government is encouraging illegal imports by banning the import of ready-made liquor. </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 Agarwal, the amount spent on the import of liquor is only 0.10 per cent of the total foreign exchange reserves spent on the import of various goods in a year.</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 has banned the import of ready-made liquor since April 26. Due to the ban, the supply of foreign liquor from official channels has decreased, and fake goods of international brands have started to enter the market, according to the association.</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 general secretary of the association, Gaurav Sharda, accused the government for giving smugglers the favourable ground to import liquor illegally. According to him, alcohol is a high-taxed commodity, so there is a lot of profit in tax evasion, leading in increase of smuggling in the border areas.</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"">"Even when there was no ban on imports, we have seen that liquor was brought to Nepal from India by smugglers and sold," Sharda said adding.</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 one litre of liquor is imported by dogging the revenue, the profit is Rs 3,500. Last January, the police seized 216 cartons of foreign brand liquor illegally imported from India in Kapan, Baneshwar and other places in the capital.</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"">Sharda asked the media to make news based on facts stating that wrong data is being propagated regarding the import of liquor. </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 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</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' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15437', 'image' => '20220727030007_liquor.jpg', 'article_date' => '2022-07-27 14:59:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15695', 'article_category_id' => '1', 'title' => 'Monetary Policy is Positive: CBFIN', 'sub_title' => '', 'summary' => 'July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive. ', 'content' => '<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""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive while acknowledging that the achievement of the set goals and implementation of some of the arrangements adopted by it to be challenging. The confederation stated that the monetary policy has tightened economic activities for the improvement of the current economic situation due to which the goals set by the monetary policy will be challenging to achieve.</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 said that the monetary policy has adopted timely policies to maintain economic and financial stability and bring the declining economy back on track.</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"">CBFIN has appreciated the central bank for including suggestions such as classification of loans flowing from banks and financial institutions, maintaining different interest rates for loans going to the productive sector and trade, development of the productive sector and credit flow to the productive sector, special priority to export promotion in the monetary policy. Similarly, CBFIN said that the provision of discounts on various services such as remittances brought into the country through formal channels, and the necessary amendments to the Foreign Investment and Foreign Debt Management Regulations, 2078 are highly commendable.</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"">CBFIN expects that the existing arrangements related to remittances will be reviewed to widen the scope of remittances inflow into Nepal and bank accounts will be made mandatory for Nepalese going abroad to help improve foreign exchange reserves. Likewise, it also believes that the increase in access to credit for small, domestic, small and medium enterprises, the productive sector including agriculture, exports and the continuation of re-financing facility for the sectors most affected by the Covid-19 pandemic, and the system where bonds can be counted as deposits, will help in the promotion of the commercial sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15436', 'image' => '20220727022441_monetary policy.jpg', 'article_date' => '2022-07-27 14:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15694', 'article_category_id' => '1', 'title' => 'Government to Receive Grant of Rs 1.37 Billion for Drinking Water Project ', 'sub_title' => '', 'summary' => 'July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference at the Ministry of Communications and Information Technology on Tuesday to disclose the decisions of the cabinet meeting held on July 25, Communications Minister Gyanendra Bahadur Karki shared that the government whas decided to accept 10.5 million euros from the European Union for the drinking water project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to accept grant equivalent to Rs 950 million from the Swiss government for the implementation of quality technical and vocational education and training project in the first phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government also decided to form a high-level study and recommendation committee headed by the National Planning Commission (NPC) Vice-chair to furnish recommendation on immediate measures to be taken on management and reduction of import. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal will be receiving a grant assistance of Japanese yen 376 million (approximately Rs 350 million) from Japan for implementation of the Human Resource Development (JDS) Project in the year 2022/23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The both parties signed and exchanged the notes in this regard amidst a programme at the Ministry of Finance on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Madhu Kumar Marasini and Charge d’affaires ad interim of Japan to Nepal Tamura Takahiro signed the documents on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the same occasion, grant agreement to this effect was signed by joint-secretary Ishwori Prasad Aryal of International Economic Cooperation Coordination Division under the Ministry of Finance and Tanaka Tomoko, senior representative of JICA Nepal, the Ministry of Finance said in a press statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Japan has been providing such scholarship grant to the Government of Nepal in a phase-wise manner. Under the first phase of the project, 80 civil servants have already completed their Master’s Degree and returned home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This grant will be utilized to administer the scholarship programme, including for payment of the university tuition fee, living allowances, settlement allowances, insurances and other basic allowances as well as supply of educational materials for 22 candidates (20 for Master’s degree and 2 for PhD degree) to pursue their degrees in various universities in Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The scholarship provides opportunity of pursuing two years’ Master’s degree and three years PhD courses to young Nepalese civil servants who are academically sound and are motivated to be engaged in Nepal’s socio economic development after completion of their study in Japan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15435', 'image' => '20220727011256_CKK-KTM-MinisterKarkia.jpg', 'article_date' => '2022-07-27 13:12:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15693', 'article_category_id' => '1', 'title' => 'Policy Intervention Needed to Minimize Impact of Nepal’s LDC Graduation on Pharmaceutical Industry', 'sub_title' => '', 'summary' => 'July 27: Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">July 27: </span></span><span style="font-size:13.5pt">Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Speaking at a workshop on ‘Preparedness of Nepal’s pharmaceutical sector in the face of LDC graduation,’ the experts discussed the challenges Nepali pharmaceutical industry will face in the context of new intellectual property regime after Nepal’s graduation from LDC.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">The workshop was jointly organized by South Asia Watch on Trade, Economics and Environment (SAWTEE) and Third World Network (TWN) in Kathmandu on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">They identified the major policy and institutional challenges for the optimal use of Trade Related Aspects on Intellectual Property Rights (TRIPS) flexibilities, and suggested way forward during the workshop, SAWTEE said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Inaugurating the programme, Dr Paras Kharel, executive director of SAWTEE, began by emphasizing the flexibilities that Nepal receives as an LDC and the preparedness of the pharmaceutical sector for the challenges it may encounter after 2026. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Posh Raj Pandey, chairperson of SAWTEE, presented the findings of the draft report “Preparedness of Nepal’s Pharmaceutical sector to cope with the challenges of the country’s LDC graduation” jointly prepared by SAWTEE and TWN. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Pandey suggested that Nepal could still avail different flexibilities even after the graduation, immediately during the transition phase and later as a developing countries too while strengthening the capacity of domestic pharmaceutical manufacturers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Prajwal Jung Pandey, president of the Association of Pharmaceutical Producers of Nepal (APPON), stated that the patent registration process for pharmaceutical companies in Nepal is complex and cumbersome. He mentioned that Nepal has not been able to effectively grab the benefits provided to LDCs. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Shiva Prasad Shrestha, senior vice president of Nepal Medical Association, lamented that Nepal’s pharmaceutical companies are limited to producing basic drugs rather than complex and life-saving drugs. He also stated that unless the government accords effective protection to domestic producers, Nepal’s pharmaceutical sector will have a difficult time surviving. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">KM Gopakumar, senior research and legal advisor to TWN, emphasized that an apt policy response is needed to minimize the impacts of LDC graduation on domestic producers and to ensure access to medicine in an affordable way. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">While the draft law on intellectual property is generally in the right direction, there are rooms for improvements. Likewise, he highlighted the roles that government could play in strengthening the pharmaceutical sector, for instance through providing incentives such as tax breaks in the use of IP flexibilities, favoring domestic producers in procurement policy, providing R&D funds, and by ensuring that patents apply only to inventions, and not to discoveries.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">In the closing remarks, Bharat Bhattarai, director general of the Department of Drug Administration, stated that the government has acknowledged the need for policy reforms in the pharmaceutical sector and the findings of the study has been successful in providing robust policy recommendations. Bhattarai stressed that a holistic approach is needed among stakeholders to invigorate the pharmaceutical sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">According to SAWTEE, the workshop was attended by policy makers, experts from the pharmaceutical sector, medical professionals, representatives from academia, activists and civil society members. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'drugs, medicine, pharmaceutical, industry, LDC, graduation, Nepal', 'description' => '', 'sortorder' => '15434', 'image' => '20220727112621_drugs.jpg', 'article_date' => '2022-07-27 11:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15692', 'article_category_id' => '1', 'title' => 'Nepal Imports Ash worth Rs 2.37 Billion in One Year', 'sub_title' => '', 'summary' => 'July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash. However, the ash that Nepal imports is not made from burning wood.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Customs, Nepal imports four different kinds of ashes and none of them are prepared from burning wood. The department informed that the country imported ashes worth Rs 2.37 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The imported ashes include residual copper, residue of other elements, and ashes prepared from urban waste and sea weeds. The ashes are mainly used as industrial raw materials. They are used to prepare copper utensils and other metal artefacts as well as cement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal is currently able to produce only the ash prepared from urban waste with HS Code 26211000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'ash, import, industrial, raw, material, residue, residual, copper', 'description' => '', 'sortorder' => '15433', 'image' => '20220727105920_ash.jpg', 'article_date' => '2022-07-27 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15706', 'article_category_id' => '1', 'title' => 'Interest on Repo Increases to 8.5 Percent', 'sub_title' => '', 'summary' => 'July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period.', '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"">July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period. After the implementation of the new policy rate by the Nepal Rastra Bank, the interest rate of inter-bank transaction and repo as well as the discount rate of treasury bills have also increased.</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"">Banks have offered interest up to 8.55 per cent for the repurchase agreement (repo) issued by Nepal Rastra Bank on Thursday. </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"">Banks have bid as much as Rs 60 billion for a repo of Rs 30 billion. Out of the 87 bids from 21 institutions, the minimum interest rate was 8.2 per cent, and the average interest rate was 8.38 per cent, said NRB Spokesperson Dr Gunakar Bhatt.</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 last fiscal year, Nepal Rastra Bank issued repo worth Rs 70 billion three times. Back then, the banks had offered a maximum interest rate of 4.8 per cent only. In the current fiscal year, the NRB has introduced a policy of tightening credit by increasing interest rates. In the monetary policy, the bank rate has been increased by 1.5 percentage points to 8.5 per cent.</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 deadline for standing liquidity facility (SLF) taken by banks for liquidity management has also been reduced by 2 days and is now fixed at 5 days. Similarly, the policy rate has increased from 5.5 per cent to 7 per cent, and the deposit collection rate has increased from 4 per cent to 5.5 per cent. </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 NRB has not issued instructions to implement these provisions, it has already increased the interest rate, which has affected 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"">Even though the NRB has increased the policy rate, the interest rate of inter-bank transactions has also reached 8.48 per cent. The interbank rate was less than 7 per cent until the central bank increased the policy 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, there was a provision to change the policy rate only after the NRB issued a directive, but this year it has already been implemented before issuing such directive. Spokesperson Bhatt said that the policy rate announced by the NRB through the monetary policy has already been implemented by the concerned department.</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> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15447', 'image' => '20220729030330_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-29 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15704', 'article_category_id' => '1', 'title' => 'National Pride Projects Lack Clear Modality: Parliamentary Committee', 'sub_title' => '', 'summary' => 'July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic. The National Interest Coordination Committee of the upper house reached such conclusion based on a recent study conducted by the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The study report states that most of the national pride projects are in problem because of lack of preparedness while announcing the project as well as lack of clear modality in implementing those projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the report, the National Planning Commission must take into consideration the topics such as strategic development and fiscal, technical and managerial issues while announcing national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The parliamentary committee report has also pointed out the need to take into consideration the assessment of financial and social aspects and environmental impact assessment along with employment opportunities, poverty alleviation, inclusion and end of discrimination among other issues while preparing the base for a national pride project.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Dil Kumari Rawal Thapa said that the study team found that the NPC did not have any clear basis while selecting national pride projects. As a result, even the projects without any preliminary feasibility report have been included as national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The report has suggested the government to ensure that the design of the national pride projects maintains balance between development and environment and causes minimal damage to the forest areas. </span></span></p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15446', 'image' => '20220729094952_nepal-parl.jpg', 'article_date' => '2022-07-29 09:49:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15705', 'article_category_id' => '1', 'title' => 'US Assistant Secretary Lu in a ‘Meaningful’ Visit to Nepal', 'sub_title' => '', 'summary' => 'July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday for a tow-day visit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the first highly-ranked diplomat of the USA to visit Nepal five weeks after the Government of Nepal decided not to proceed ahead with the State Partnership Programme (SPP) of the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu’s visit is considered to be ‘meaningful’ in this context.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The senior official of the USA visited Nepal via New Delhi at a time when Prime Minister Sher Bahadur Deuba’s US visit has become uncertain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu, who is in charge of the South and Central Asia Affairs, is scheduled to meet Prime Minister Sher Bahadur Deuba and Minister for Foreign Affairs Dr Narayan Khadka today (July 29). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prime Minister Deuba was preparing to visit the USA between mid-July to the end of July but the visit was put on hold after the government decided not to move ahead with the SPP project. The USA is reportedly in favour of implementing the SPP in Nepal to counter the growing influence of China. It has been learnt that the USA is annoyed with Nepal’s decision not to forward the SPP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the Council of Ministers had decided not to endorse the SPP, the government has not written any official letter to the US government in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is believed that Lu will discuss this issue with PM Deuba as well as his stalled visit to the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the US embassy in Nepal has said that Lu is in a routine visit to this region. A statement issued by the US embassy says that Lu will be handing over the Award for Corporate Excellence Purnaa, a U.S. manufacturing company in Nepal that promotes ethical manufacturing by empowering traditionally marginalized people and survivors of exploitation. Assistant Secretary Lu will also meet with business, civil society, and government leaders during his two-day visit, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the same official who had warned top leaders of Nepal in February that the US government will review its relation with Nepal of the Millennium Challenge Corporation (MCC) is not endorsed by parliament. Prior to that, he had visited Nepal in November and set the deadline of February 8 for endorsing the MCC grant agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15445', 'image' => '20220729101815_AS-Donald-Lu-1.jpg', 'article_date' => '2022-07-29 10:17:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15703', 'article_category_id' => '1', 'title' => 'Government to Re-operate Biratnagar Jute Mills', 'sub_title' => 'Feasibility Study underway to Re-operate Janakpur Cigarette Factory: Minister Badu ', 'summary' => 'July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu made such remarks after an on-site visit to the Biratnagar Jute Mills, which is currently shut down. Prior to this, two former industry ministers had also made such commitment but failed to do so. </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"">Back in 2018, the then Industry Minister Matrika Prasad Yadav had also visited Biratnagar Jute Mills on May 5 and pledged to reopen the defunct industry. Before that, the then Industry Minister Mahesh Basnet had also made the same announcement. However, Nilhari Kafle, who was appointed the chairman of the mill by Basnet, was dragged into a controversy and subsequently stepped down. </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"">Minister Badu has once again assured to operate the mill along with Janakpur Cigarette Factory, Nepal Metal Industry, Gorakhali Rubber Industry, Hetauda Textile, Birgunj Sugar Mill among other sick industries.</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"">Badu said that the government is conducting feasibility study to revive Janakpur Cigarette Factory. </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"">Talking to media persons after monitoring the factory that is defunct at present, Minister Badu informed that the government would take decision after conducting studies on modalities to re-operate sick industries across the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu said he was making on-site visit of the factory as a part of the government's plan to re-operate sick industries. The government, he added, aimed to reduce trade deficit by substituting imports in collaboration with the private sector. He added that the government intends to increase productivity and create job opportunities through this initiative. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that he arrived in Janakpur to take stock of the “once very famous factory” and the condition of its machineries as well as its assets. </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"">He was accompanied by Minister for Physical Infrastructure Development of Madhesh Province Ram Saroj Yadav and provincial government's employees among others. </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"">Minister Badu and provincial ministers also discussed ways to re-operate the Janakpur Cigarette Factory. (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15444', 'image' => '20220728031527_1476600216_jute_mills_vCafOj3vah..jpg', 'article_date' => '2022-07-28 15:14:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15702', 'article_category_id' => '1', 'title' => 'Promoting Handicraft Products Gives Self-Satisfaction to Archana Singh', 'sub_title' => '', 'summary' => 'July 28: After studying up to a certain level, a person desires for job.', '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"">July 28: After studying up to a certain level, a person desires for job. Nobody tends to waver from the job if it is attractively paid, is safe and is associated with an international organisation. There are hardly any people who leave such jobs and opt for other professions. However, Archana Singh, owner of Craftmandu Handicraft is one of such rare figures.</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"">Singh was working in the UNODC, a United Nations agency on drugs and crime reduction. Singh was the programme coordinator for Nepal in that organisation. However, she gave up the job and got into the field of handicraft. She feels that she is better known by the handicraft business than by her UN job. </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"">“I get self-satisfaction from it. Here, I have been able to contribute something for others,” says Singh.</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"">She worked for UNODC and ILO for about 16 years. After that, thinking that he should to do something by herself, she chose handicraft, an area of her interest since her childhood. </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"">“When I joined, I did not have much knowledge about handicrafts, but I left my job and came here because it was an area of my interest since childhood,” she said. Her family and relatives did not like her decision to quit her job. But when the handicraft business got better, everyone encouraged her to work towards her interest. She says it is easy to achieve more success in business with the encouragement of family and society.</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"">Singh says that because of the urge to do something in the field of handicrafts, her interest towards job started fading. </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"">“There was no risk in the job. I was paid monthly. But I chose this profession to fulfil my desire to do something in the field of handicrafts.”</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"">When she started a new venture, it was very challenging to compete with established businessmen years ago. However, she kept marching forward. Singh says that although she does not produce, she buys and sells the products of other women and street children and supports such entrepreneurs.</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"">She said that after completing her master's degree in international development from America, she came back to do something in her country. She shared, “Despite coming here and working in various organizations for years, the dream of promoting Nepali products by working in the handicraft sector did not leave my mind.”</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"">Today she is established as a successful woman entrepreneur. Singh herself also paints and makes pots. She said that she only promotes Nepali products while combining her dream and business. </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"">At her Craftmandu Handicraft in Jhamsikhel, Lalitpur, children's clothes, kurtas, pashminas, gift items, cups, hand-painted cards, leather bags, purses, chocolates, silver items are sold. She says that before the earthquake and the Covid-19 pandemic, about 80 percent of the customers were foreigners, but now, the number of foreign customers has declined.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15443', 'image' => '20220728022352_936448_5129363.jpg', 'article_date' => '2022-07-28 14:23:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15701', 'article_category_id' => '1', 'title' => 'PATA Nepal to Organise 'Nepal Sales Mission-2022' in Thailand ', 'sub_title' => '', 'summary' => 'July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Sales Mission-2022 is going to be organised with the objective of helping the post COVID-19 tourism revival campaign. </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""> According to PATA Nepal, 20 tourism entrepreneurs, affiliated with PATA Nepal, and professionals would participate in the mission going to be organised in collaboration with Nepal Airlines Corporation, Thai Travel Agents Association, SS Group Thailand and Jawalakhel Group of Industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, more than 40 stakeholders associated to the tourism sector including Thai Travel Agents and Tour Operators, media would also participate in the mission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s Ambassador to Thailand, Ganesh Prasad Dhakal, would be the chief guest of the Nepal Sales Mission where CEO of PATA International, Liz Ortiguera, would participate as the special guest and keynote speaker. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of PATA Nepal chapter, Bibhuti Chand Thakur, expressed the belief that the Nepal Sales Mission would be the best forum to promote tourism potential between Nepal and Thailand, with Gautam Buddha international Airport already in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepali delegation would also participate in the 'Sixth PATA Destination Marketing Forum' to be held in Thailand from August 2-4, reads a press statement issued by PATA Nepal on Wednesday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15442', 'image' => '20220728124411_PN-Nepal-Sales-Mission-2022-Thailand.jpg', 'article_date' => '2022-07-28 12:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15700', 'article_category_id' => '1', 'title' => 'Government to Adopt Trade Integration Strategy', 'sub_title' => '', 'summary' => 'July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. ', '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"">July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. The Ministry of Industry, Commerce and Supplies has initiated the process of taking suggestions from stakeholders to finalize the 'Nepal Trade Integration Strategy 2079'.</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"">While Nepal is preparing to be upgraded from underdeveloped to developing country in the next few years, the government is preparing an integrated strategy, considering opportunities and challenges. </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"">Such strategy is going to be formulated during the Fifteenth Development Plan (2077-2081) with the objective of building an independent and socialist-oriented economy.</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 preliminary strategy prepared by the government was discussed in Birgunj on Wednesday. The ministry said that the integrated strategy will be finalized after taking suggestions from stakeholders. The government prepared a draft of the strategy with the support of the European Union, Nepal Trade and Investment Program and the Investment Program Facility.</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"">An expert group led by former Finance Secretary Rameshwar Khanal prepared the draft of the strategy. Khanal informed that the strategy focuses on the issue of the impact on foreign trade and how to solve it when Nepal transitions to the list of developing 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"">After Nepal's upgrade, there will be no significant difference in trade with India, says Khanal. Experts say that the main purpose of the strategy is to find solutions to challenges and opportunities in trade with the European Union and the United States. Currently, the ratio of gross domestic product (GDP) and foreign trade is 39.3 percent, and the target is to increase it to 55 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"">Khanal informed that the ratio of exports of goods and services to GDP is 6.61 percent and the goal is to increase it to 20 percent. The strategy also emphasizes on studying what goods are being imported by other countries and from where, in order to increase exports and the possibility of Nepal exporting such goods to those 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"">The government is planning to strengthen economic diplomacy to increase exports. At present, diplomatic missions and ambassadors in various countries will be mobilized to attract export trade and investment.</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 policy is to build business-supporting infrastructure and strengthen food security. </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"">Pushpa Sharma, a member of the expert group, said that plans are being made to this end.</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"">Improving quality and industrial standards will also be emphasized. </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"">Another expert, Rojan Bajracharya, said that while modernizing the production process, import substitution and export enhancement will be carried out strategically.</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"">Ganesh Prasad Lath, president of Madhes Province chapter of FNCCI, said that the efficiency of the business strategy depends on its successful implementation. </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"">Subodh Kumar Gupta, president of Birganj Chamber of Commerce and Industry, Mohan Sharma, president of Jitpur-Simara Chamber of Commerce and Industry, leather industrialist Mohammad Junaid Iftkhan and others said that the business strategy should focus on reducing the cost of production. They claimed that unless the cost of domestic production is cheap, it cannot survive in the domestic market, let alone exports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15441', 'image' => '20220728124828_1658961573.Clipboard25.jpg', 'article_date' => '2022-07-28 12:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15699', 'article_category_id' => '1', 'title' => 'Nepal Imported 1,807 EVs during Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the data unveiled by the Department of Customs, majority of EVs imported last year came from China. Altogether 823 such vehicles arrived here from China followed by 696 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 184 EVs were brought in Nepal from South Korea, 78 EVs were imported from Japan, 23 from the UK, one from France and the remaining from other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the EVs imported were of 100 kilowatt and 150-200 kilowatt in capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government in the budget of last fiscal year had announced concession in excise duty for the EVs following which encouraging number of EVs made its way to Nepal during last fiscal year compared to the previous fiscal year (FY 2020/21) during which only 261 EVs were imported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government collected over Rs 1.43 billion in revenue from the import of 1,807 EVs in the last fiscal year while over Rs 5 billion flew out of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15440', 'image' => '20220728075905_electricvehicle-1611985899.jpg', 'article_date' => '2022-07-28 07:58:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15698', 'article_category_id' => '1', 'title' => 'Industrialists Present their Problems before Industry Minister', 'sub_title' => '', 'summary' => 'July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During a meeting organized by the Morang Merchants Association, 76-year-old Agarwal told the minister either to correct the tax rates or tell them to jump in the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The iron industry, which I have been operating for 47 years, is now closed,” said Agarwal, adding that the government is punishing the industry without any fault.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Naveen Rijal, president of Morang Merchants Association, said that even though the people have established the system that the leaders wanted through the people’s movement, the politicians are failing to address their aspirations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While informing Minister Badu about the problems faced by the industrial sector due to Russia-Ukraine war, Rijal asked him to take diplomatic initiative for the operation of the Mirganj bridge. He said that the government should take the initiative to open trade with Bangladesh for the industrial development of eastern Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that due to the delay in operation of the Mirganj bridge, the price of every item is more by Rs 2 per kg as they have to travel 105 kilometers more to reach Sunsari's Bhantabari transit point. Rizal said that the government is not serious about the issue of GI wire, vegetable oil, and sanitary pads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pradeep Murarka, the acting president of the Chamber of Industry Morang, said that although India has completed all necessary processes to bring cargo train to the Integrated Check Post, the Nepali side has not done anything concrete to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhim Ghimire, president of Province chapter of the Confederation of Nepalese Industry, said that the interest of bank loans should be brought down to single digit, the insurance companies should stop carteling, and a special economic zone should be built on a PPP model on 600 bigha of land in Amduwa.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Another entrepreneur, Shankarlal Agarwal, demanded the government to implement its commitment. Tara Chand Khaitan, the former president of the Morang Merchants Association, demanded the revocation of the provision to renew the EXIM code to stop smuggling through the open border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hulas Wire’s Director Yukti Golcha, Union Vice President Bikas Begwani, Vice President Anil Sah, Gopal Aggarwal, Pawan Sharda, and Basudev Golyan informed the minister about the problems faced by the industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"For Nepali consumers, import can be substituted only by giving preference to Nepali products," Minister Badu said, adding, "The government itself will bring the sick industries back into operation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15439', 'image' => '20220727080824_1658875100.Clipboard19.jpg', 'article_date' => '2022-07-27 20:07:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15697', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Recovers CCTV Footage which is ‘Unclear’', 'sub_title' => '', 'summary' => 'July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.', '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"">July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.</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"">Nevertheless, the Parliamentary Special Investigation Committee discussed and analyzed the CCTV footage which it obtained with much difficulty. The committee also called experts from the Forensic Science Laboratory of the Nepal Police and held a discussion on Tuesday. According to sources, the footage of the night of May 2</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">8</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">, which was deleted from the CCTV, has been recovered but the scenes are not clear.</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 realizing that the CCTV footage is not clear, the committee called experts to discuss about it. In Tuesday's meeting, the committee members asked the experts about the degradation of the video quality. The sought explanation regarding the absence of date and inability to play 51 clips as a single video. According to one of the members of the investigation committee, the experts said it was due to technical reasons and too many system checks.</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"">Surendra Aryal, member secretary of the committee, said that the experts gave their opinion on the things that were not clear. In response to the question of what was seen on the CCTV, he said, “The CCTV showed what was supposed to be shown. Now everything will be included in the report.” According to Aryal, the committee will hold a meeting at 11 am on Wednesday and start writing the report. Aryal also said that the discussion will be continued and conclusion will be drawn based on not only CCTV footage but all other means of investigation 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""> “CCTV is not the sole evidence. We have other tools as well to reach the truth Aryal 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""> According to sources, the CCTV footage was unable to give clear conclusion. There is a possibility that there may be differences of opinion among the committee members while writing the report. Sources claim that there may be differences between the MPs of the ruling parties and the opposition party UML regarding the conclusion. All the members of the committee agree that the deadline will not be extended again. The committee was initially given a deadline of 10 days, but later 7 days were extended. There are 2 days left for the extended deadline to expire.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15438', 'image' => '20220727050930_20220707122044_ROS_KTM-4187.jpg', 'article_date' => '2022-07-27 17:08:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15696', 'article_category_id' => '1', 'title' => 'Importers Express Concern over Ban on Import of Liquor', 'sub_title' => '', 'summary' => 'July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.', '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"">July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency 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 Nepal Liquor Importers Association held a press conference in the capital on Tuesday and said that the import of ready-made liquor will cost USD 15 per litre, but the same liquor when sold to foreigners in hotels, restaurants and bars can earn as much as USD 120 per litre.</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"">"When importing liquor, an average of USD 15 is lost per litre. But when it is sold from hotels, restaurants and bars, it earns USD 120 per litre,” said Anil Kumar Agarwal, president of the association. </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"">Agarwal also presented the data that the import of ready-made liquor will result in an outflow of USD 1.2 million (Rs 1.5 billion) and the government will receive Rs 3.3 billion as revenue from it. He claimed that the government is encouraging illegal imports by banning the import of ready-made liquor. </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 Agarwal, the amount spent on the import of liquor is only 0.10 per cent of the total foreign exchange reserves spent on the import of various goods in a year.</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 has banned the import of ready-made liquor since April 26. Due to the ban, the supply of foreign liquor from official channels has decreased, and fake goods of international brands have started to enter the market, according to the association.</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 general secretary of the association, Gaurav Sharda, accused the government for giving smugglers the favourable ground to import liquor illegally. According to him, alcohol is a high-taxed commodity, so there is a lot of profit in tax evasion, leading in increase of smuggling in the border areas.</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"">"Even when there was no ban on imports, we have seen that liquor was brought to Nepal from India by smugglers and sold," Sharda said adding.</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 one litre of liquor is imported by dogging the revenue, the profit is Rs 3,500. Last January, the police seized 216 cartons of foreign brand liquor illegally imported from India in Kapan, Baneshwar and other places in the capital.</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"">Sharda asked the media to make news based on facts stating that wrong data is being propagated regarding the import of liquor. </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 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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><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' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15437', 'image' => '20220727030007_liquor.jpg', 'article_date' => '2022-07-27 14:59:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15695', 'article_category_id' => '1', 'title' => 'Monetary Policy is Positive: CBFIN', 'sub_title' => '', 'summary' => 'July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive. ', 'content' => '<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""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive while acknowledging that the achievement of the set goals and implementation of some of the arrangements adopted by it to be challenging. The confederation stated that the monetary policy has tightened economic activities for the improvement of the current economic situation due to which the goals set by the monetary policy will be challenging to achieve.</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 said that the monetary policy has adopted timely policies to maintain economic and financial stability and bring the declining economy back on track.</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"">CBFIN has appreciated the central bank for including suggestions such as classification of loans flowing from banks and financial institutions, maintaining different interest rates for loans going to the productive sector and trade, development of the productive sector and credit flow to the productive sector, special priority to export promotion in the monetary policy. Similarly, CBFIN said that the provision of discounts on various services such as remittances brought into the country through formal channels, and the necessary amendments to the Foreign Investment and Foreign Debt Management Regulations, 2078 are highly commendable.</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"">CBFIN expects that the existing arrangements related to remittances will be reviewed to widen the scope of remittances inflow into Nepal and bank accounts will be made mandatory for Nepalese going abroad to help improve foreign exchange reserves. Likewise, it also believes that the increase in access to credit for small, domestic, small and medium enterprises, the productive sector including agriculture, exports and the continuation of re-financing facility for the sectors most affected by the Covid-19 pandemic, and the system where bonds can be counted as deposits, will help in the promotion of the commercial sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15436', 'image' => '20220727022441_monetary policy.jpg', 'article_date' => '2022-07-27 14:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15694', 'article_category_id' => '1', 'title' => 'Government to Receive Grant of Rs 1.37 Billion for Drinking Water Project ', 'sub_title' => '', 'summary' => 'July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference at the Ministry of Communications and Information Technology on Tuesday to disclose the decisions of the cabinet meeting held on July 25, Communications Minister Gyanendra Bahadur Karki shared that the government whas decided to accept 10.5 million euros from the European Union for the drinking water project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to accept grant equivalent to Rs 950 million from the Swiss government for the implementation of quality technical and vocational education and training project in the first phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government also decided to form a high-level study and recommendation committee headed by the National Planning Commission (NPC) Vice-chair to furnish recommendation on immediate measures to be taken on management and reduction of import. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal will be receiving a grant assistance of Japanese yen 376 million (approximately Rs 350 million) from Japan for implementation of the Human Resource Development (JDS) Project in the year 2022/23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The both parties signed and exchanged the notes in this regard amidst a programme at the Ministry of Finance on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Madhu Kumar Marasini and Charge d’affaires ad interim of Japan to Nepal Tamura Takahiro signed the documents on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the same occasion, grant agreement to this effect was signed by joint-secretary Ishwori Prasad Aryal of International Economic Cooperation Coordination Division under the Ministry of Finance and Tanaka Tomoko, senior representative of JICA Nepal, the Ministry of Finance said in a press statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Japan has been providing such scholarship grant to the Government of Nepal in a phase-wise manner. Under the first phase of the project, 80 civil servants have already completed their Master’s Degree and returned home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This grant will be utilized to administer the scholarship programme, including for payment of the university tuition fee, living allowances, settlement allowances, insurances and other basic allowances as well as supply of educational materials for 22 candidates (20 for Master’s degree and 2 for PhD degree) to pursue their degrees in various universities in Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The scholarship provides opportunity of pursuing two years’ Master’s degree and three years PhD courses to young Nepalese civil servants who are academically sound and are motivated to be engaged in Nepal’s socio economic development after completion of their study in Japan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15435', 'image' => '20220727011256_CKK-KTM-MinisterKarkia.jpg', 'article_date' => '2022-07-27 13:12:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15693', 'article_category_id' => '1', 'title' => 'Policy Intervention Needed to Minimize Impact of Nepal’s LDC Graduation on Pharmaceutical Industry', 'sub_title' => '', 'summary' => 'July 27: Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">July 27: </span></span><span style="font-size:13.5pt">Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Speaking at a workshop on ‘Preparedness of Nepal’s pharmaceutical sector in the face of LDC graduation,’ the experts discussed the challenges Nepali pharmaceutical industry will face in the context of new intellectual property regime after Nepal’s graduation from LDC.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">The workshop was jointly organized by South Asia Watch on Trade, Economics and Environment (SAWTEE) and Third World Network (TWN) in Kathmandu on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">They identified the major policy and institutional challenges for the optimal use of Trade Related Aspects on Intellectual Property Rights (TRIPS) flexibilities, and suggested way forward during the workshop, SAWTEE said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Inaugurating the programme, Dr Paras Kharel, executive director of SAWTEE, began by emphasizing the flexibilities that Nepal receives as an LDC and the preparedness of the pharmaceutical sector for the challenges it may encounter after 2026. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Posh Raj Pandey, chairperson of SAWTEE, presented the findings of the draft report “Preparedness of Nepal’s Pharmaceutical sector to cope with the challenges of the country’s LDC graduation” jointly prepared by SAWTEE and TWN. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Pandey suggested that Nepal could still avail different flexibilities even after the graduation, immediately during the transition phase and later as a developing countries too while strengthening the capacity of domestic pharmaceutical manufacturers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Prajwal Jung Pandey, president of the Association of Pharmaceutical Producers of Nepal (APPON), stated that the patent registration process for pharmaceutical companies in Nepal is complex and cumbersome. He mentioned that Nepal has not been able to effectively grab the benefits provided to LDCs. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Shiva Prasad Shrestha, senior vice president of Nepal Medical Association, lamented that Nepal’s pharmaceutical companies are limited to producing basic drugs rather than complex and life-saving drugs. He also stated that unless the government accords effective protection to domestic producers, Nepal’s pharmaceutical sector will have a difficult time surviving. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">KM Gopakumar, senior research and legal advisor to TWN, emphasized that an apt policy response is needed to minimize the impacts of LDC graduation on domestic producers and to ensure access to medicine in an affordable way. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">While the draft law on intellectual property is generally in the right direction, there are rooms for improvements. Likewise, he highlighted the roles that government could play in strengthening the pharmaceutical sector, for instance through providing incentives such as tax breaks in the use of IP flexibilities, favoring domestic producers in procurement policy, providing R&D funds, and by ensuring that patents apply only to inventions, and not to discoveries.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">In the closing remarks, Bharat Bhattarai, director general of the Department of Drug Administration, stated that the government has acknowledged the need for policy reforms in the pharmaceutical sector and the findings of the study has been successful in providing robust policy recommendations. Bhattarai stressed that a holistic approach is needed among stakeholders to invigorate the pharmaceutical sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">According to SAWTEE, the workshop was attended by policy makers, experts from the pharmaceutical sector, medical professionals, representatives from academia, activists and civil society members. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'drugs, medicine, pharmaceutical, industry, LDC, graduation, Nepal', 'description' => '', 'sortorder' => '15434', 'image' => '20220727112621_drugs.jpg', 'article_date' => '2022-07-27 11:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15692', 'article_category_id' => '1', 'title' => 'Nepal Imports Ash worth Rs 2.37 Billion in One Year', 'sub_title' => '', 'summary' => 'July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash. However, the ash that Nepal imports is not made from burning wood.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Customs, Nepal imports four different kinds of ashes and none of them are prepared from burning wood. The department informed that the country imported ashes worth Rs 2.37 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The imported ashes include residual copper, residue of other elements, and ashes prepared from urban waste and sea weeds. The ashes are mainly used as industrial raw materials. They are used to prepare copper utensils and other metal artefacts as well as cement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal is currently able to produce only the ash prepared from urban waste with HS Code 26211000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'ash, import, industrial, raw, material, residue, residual, copper', 'description' => '', 'sortorder' => '15433', 'image' => '20220727105920_ash.jpg', 'article_date' => '2022-07-27 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '15706', 'article_category_id' => '1', 'title' => 'Interest on Repo Increases to 8.5 Percent', 'sub_title' => '', 'summary' => 'July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period.', '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"">July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period. After the implementation of the new policy rate by the Nepal Rastra Bank, the interest rate of inter-bank transaction and repo as well as the discount rate of treasury bills have also increased.</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"">Banks have offered interest up to 8.55 per cent for the repurchase agreement (repo) issued by Nepal Rastra Bank on Thursday. </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"">Banks have bid as much as Rs 60 billion for a repo of Rs 30 billion. Out of the 87 bids from 21 institutions, the minimum interest rate was 8.2 per cent, and the average interest rate was 8.38 per cent, said NRB Spokesperson Dr Gunakar Bhatt.</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 last fiscal year, Nepal Rastra Bank issued repo worth Rs 70 billion three times. Back then, the banks had offered a maximum interest rate of 4.8 per cent only. In the current fiscal year, the NRB has introduced a policy of tightening credit by increasing interest rates. In the monetary policy, the bank rate has been increased by 1.5 percentage points to 8.5 per cent.</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 deadline for standing liquidity facility (SLF) taken by banks for liquidity management has also been reduced by 2 days and is now fixed at 5 days. Similarly, the policy rate has increased from 5.5 per cent to 7 per cent, and the deposit collection rate has increased from 4 per cent to 5.5 per cent. </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 NRB has not issued instructions to implement these provisions, it has already increased the interest rate, which has affected 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"">Even though the NRB has increased the policy rate, the interest rate of inter-bank transactions has also reached 8.48 per cent. The interbank rate was less than 7 per cent until the central bank increased the policy 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, there was a provision to change the policy rate only after the NRB issued a directive, but this year it has already been implemented before issuing such directive. Spokesperson Bhatt said that the policy rate announced by the NRB through the monetary policy has already been implemented by the concerned department.</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> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15447', 'image' => '20220729030330_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-29 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15704', 'article_category_id' => '1', 'title' => 'National Pride Projects Lack Clear Modality: Parliamentary Committee', 'sub_title' => '', 'summary' => 'July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic. The National Interest Coordination Committee of the upper house reached such conclusion based on a recent study conducted by the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The study report states that most of the national pride projects are in problem because of lack of preparedness while announcing the project as well as lack of clear modality in implementing those projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the report, the National Planning Commission must take into consideration the topics such as strategic development and fiscal, technical and managerial issues while announcing national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The parliamentary committee report has also pointed out the need to take into consideration the assessment of financial and social aspects and environmental impact assessment along with employment opportunities, poverty alleviation, inclusion and end of discrimination among other issues while preparing the base for a national pride project.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Dil Kumari Rawal Thapa said that the study team found that the NPC did not have any clear basis while selecting national pride projects. As a result, even the projects without any preliminary feasibility report have been included as national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The report has suggested the government to ensure that the design of the national pride projects maintains balance between development and environment and causes minimal damage to the forest areas. </span></span></p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15446', 'image' => '20220729094952_nepal-parl.jpg', 'article_date' => '2022-07-29 09:49:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15705', 'article_category_id' => '1', 'title' => 'US Assistant Secretary Lu in a ‘Meaningful’ Visit to Nepal', 'sub_title' => '', 'summary' => 'July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday for a tow-day visit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the first highly-ranked diplomat of the USA to visit Nepal five weeks after the Government of Nepal decided not to proceed ahead with the State Partnership Programme (SPP) of the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu’s visit is considered to be ‘meaningful’ in this context.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The senior official of the USA visited Nepal via New Delhi at a time when Prime Minister Sher Bahadur Deuba’s US visit has become uncertain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu, who is in charge of the South and Central Asia Affairs, is scheduled to meet Prime Minister Sher Bahadur Deuba and Minister for Foreign Affairs Dr Narayan Khadka today (July 29). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prime Minister Deuba was preparing to visit the USA between mid-July to the end of July but the visit was put on hold after the government decided not to move ahead with the SPP project. The USA is reportedly in favour of implementing the SPP in Nepal to counter the growing influence of China. It has been learnt that the USA is annoyed with Nepal’s decision not to forward the SPP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the Council of Ministers had decided not to endorse the SPP, the government has not written any official letter to the US government in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is believed that Lu will discuss this issue with PM Deuba as well as his stalled visit to the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the US embassy in Nepal has said that Lu is in a routine visit to this region. A statement issued by the US embassy says that Lu will be handing over the Award for Corporate Excellence Purnaa, a U.S. manufacturing company in Nepal that promotes ethical manufacturing by empowering traditionally marginalized people and survivors of exploitation. Assistant Secretary Lu will also meet with business, civil society, and government leaders during his two-day visit, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the same official who had warned top leaders of Nepal in February that the US government will review its relation with Nepal of the Millennium Challenge Corporation (MCC) is not endorsed by parliament. Prior to that, he had visited Nepal in November and set the deadline of February 8 for endorsing the MCC grant agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15445', 'image' => '20220729101815_AS-Donald-Lu-1.jpg', 'article_date' => '2022-07-29 10:17:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15703', 'article_category_id' => '1', 'title' => 'Government to Re-operate Biratnagar Jute Mills', 'sub_title' => 'Feasibility Study underway to Re-operate Janakpur Cigarette Factory: Minister Badu ', 'summary' => 'July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu made such remarks after an on-site visit to the Biratnagar Jute Mills, which is currently shut down. Prior to this, two former industry ministers had also made such commitment but failed to do so. </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"">Back in 2018, the then Industry Minister Matrika Prasad Yadav had also visited Biratnagar Jute Mills on May 5 and pledged to reopen the defunct industry. Before that, the then Industry Minister Mahesh Basnet had also made the same announcement. However, Nilhari Kafle, who was appointed the chairman of the mill by Basnet, was dragged into a controversy and subsequently stepped down. </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"">Minister Badu has once again assured to operate the mill along with Janakpur Cigarette Factory, Nepal Metal Industry, Gorakhali Rubber Industry, Hetauda Textile, Birgunj Sugar Mill among other sick industries.</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"">Badu said that the government is conducting feasibility study to revive Janakpur Cigarette Factory. </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"">Talking to media persons after monitoring the factory that is defunct at present, Minister Badu informed that the government would take decision after conducting studies on modalities to re-operate sick industries across the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu said he was making on-site visit of the factory as a part of the government's plan to re-operate sick industries. The government, he added, aimed to reduce trade deficit by substituting imports in collaboration with the private sector. He added that the government intends to increase productivity and create job opportunities through this initiative. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that he arrived in Janakpur to take stock of the “once very famous factory” and the condition of its machineries as well as its assets. </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"">He was accompanied by Minister for Physical Infrastructure Development of Madhesh Province Ram Saroj Yadav and provincial government's employees among others. </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"">Minister Badu and provincial ministers also discussed ways to re-operate the Janakpur Cigarette Factory. (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15444', 'image' => '20220728031527_1476600216_jute_mills_vCafOj3vah..jpg', 'article_date' => '2022-07-28 15:14:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15702', 'article_category_id' => '1', 'title' => 'Promoting Handicraft Products Gives Self-Satisfaction to Archana Singh', 'sub_title' => '', 'summary' => 'July 28: After studying up to a certain level, a person desires for job.', '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"">July 28: After studying up to a certain level, a person desires for job. Nobody tends to waver from the job if it is attractively paid, is safe and is associated with an international organisation. There are hardly any people who leave such jobs and opt for other professions. However, Archana Singh, owner of Craftmandu Handicraft is one of such rare figures.</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"">Singh was working in the UNODC, a United Nations agency on drugs and crime reduction. Singh was the programme coordinator for Nepal in that organisation. However, she gave up the job and got into the field of handicraft. She feels that she is better known by the handicraft business than by her UN job. </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"">“I get self-satisfaction from it. Here, I have been able to contribute something for others,” says Singh.</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"">She worked for UNODC and ILO for about 16 years. After that, thinking that he should to do something by herself, she chose handicraft, an area of her interest since her childhood. </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"">“When I joined, I did not have much knowledge about handicrafts, but I left my job and came here because it was an area of my interest since childhood,” she said. Her family and relatives did not like her decision to quit her job. But when the handicraft business got better, everyone encouraged her to work towards her interest. She says it is easy to achieve more success in business with the encouragement of family and society.</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"">Singh says that because of the urge to do something in the field of handicrafts, her interest towards job started fading. </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"">“There was no risk in the job. I was paid monthly. But I chose this profession to fulfil my desire to do something in the field of handicrafts.”</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"">When she started a new venture, it was very challenging to compete with established businessmen years ago. However, she kept marching forward. Singh says that although she does not produce, she buys and sells the products of other women and street children and supports such entrepreneurs.</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"">She said that after completing her master's degree in international development from America, she came back to do something in her country. She shared, “Despite coming here and working in various organizations for years, the dream of promoting Nepali products by working in the handicraft sector did not leave my mind.”</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"">Today she is established as a successful woman entrepreneur. Singh herself also paints and makes pots. She said that she only promotes Nepali products while combining her dream and business. </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"">At her Craftmandu Handicraft in Jhamsikhel, Lalitpur, children's clothes, kurtas, pashminas, gift items, cups, hand-painted cards, leather bags, purses, chocolates, silver items are sold. She says that before the earthquake and the Covid-19 pandemic, about 80 percent of the customers were foreigners, but now, the number of foreign customers has declined.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15443', 'image' => '20220728022352_936448_5129363.jpg', 'article_date' => '2022-07-28 14:23:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15701', 'article_category_id' => '1', 'title' => 'PATA Nepal to Organise 'Nepal Sales Mission-2022' in Thailand ', 'sub_title' => '', 'summary' => 'July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Sales Mission-2022 is going to be organised with the objective of helping the post COVID-19 tourism revival campaign. </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""> According to PATA Nepal, 20 tourism entrepreneurs, affiliated with PATA Nepal, and professionals would participate in the mission going to be organised in collaboration with Nepal Airlines Corporation, Thai Travel Agents Association, SS Group Thailand and Jawalakhel Group of Industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, more than 40 stakeholders associated to the tourism sector including Thai Travel Agents and Tour Operators, media would also participate in the mission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s Ambassador to Thailand, Ganesh Prasad Dhakal, would be the chief guest of the Nepal Sales Mission where CEO of PATA International, Liz Ortiguera, would participate as the special guest and keynote speaker. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of PATA Nepal chapter, Bibhuti Chand Thakur, expressed the belief that the Nepal Sales Mission would be the best forum to promote tourism potential between Nepal and Thailand, with Gautam Buddha international Airport already in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepali delegation would also participate in the 'Sixth PATA Destination Marketing Forum' to be held in Thailand from August 2-4, reads a press statement issued by PATA Nepal on Wednesday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15442', 'image' => '20220728124411_PN-Nepal-Sales-Mission-2022-Thailand.jpg', 'article_date' => '2022-07-28 12:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15700', 'article_category_id' => '1', 'title' => 'Government to Adopt Trade Integration Strategy', 'sub_title' => '', 'summary' => 'July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. ', '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"">July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. The Ministry of Industry, Commerce and Supplies has initiated the process of taking suggestions from stakeholders to finalize the 'Nepal Trade Integration Strategy 2079'.</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"">While Nepal is preparing to be upgraded from underdeveloped to developing country in the next few years, the government is preparing an integrated strategy, considering opportunities and challenges. </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"">Such strategy is going to be formulated during the Fifteenth Development Plan (2077-2081) with the objective of building an independent and socialist-oriented economy.</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 preliminary strategy prepared by the government was discussed in Birgunj on Wednesday. The ministry said that the integrated strategy will be finalized after taking suggestions from stakeholders. The government prepared a draft of the strategy with the support of the European Union, Nepal Trade and Investment Program and the Investment Program Facility.</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"">An expert group led by former Finance Secretary Rameshwar Khanal prepared the draft of the strategy. Khanal informed that the strategy focuses on the issue of the impact on foreign trade and how to solve it when Nepal transitions to the list of developing 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"">After Nepal's upgrade, there will be no significant difference in trade with India, says Khanal. Experts say that the main purpose of the strategy is to find solutions to challenges and opportunities in trade with the European Union and the United States. Currently, the ratio of gross domestic product (GDP) and foreign trade is 39.3 percent, and the target is to increase it to 55 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"">Khanal informed that the ratio of exports of goods and services to GDP is 6.61 percent and the goal is to increase it to 20 percent. The strategy also emphasizes on studying what goods are being imported by other countries and from where, in order to increase exports and the possibility of Nepal exporting such goods to those 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"">The government is planning to strengthen economic diplomacy to increase exports. At present, diplomatic missions and ambassadors in various countries will be mobilized to attract export trade and investment.</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 policy is to build business-supporting infrastructure and strengthen food security. </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"">Pushpa Sharma, a member of the expert group, said that plans are being made to this end.</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"">Improving quality and industrial standards will also be emphasized. </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"">Another expert, Rojan Bajracharya, said that while modernizing the production process, import substitution and export enhancement will be carried out strategically.</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"">Ganesh Prasad Lath, president of Madhes Province chapter of FNCCI, said that the efficiency of the business strategy depends on its successful implementation. </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"">Subodh Kumar Gupta, president of Birganj Chamber of Commerce and Industry, Mohan Sharma, president of Jitpur-Simara Chamber of Commerce and Industry, leather industrialist Mohammad Junaid Iftkhan and others said that the business strategy should focus on reducing the cost of production. They claimed that unless the cost of domestic production is cheap, it cannot survive in the domestic market, let alone exports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15441', 'image' => '20220728124828_1658961573.Clipboard25.jpg', 'article_date' => '2022-07-28 12:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15699', 'article_category_id' => '1', 'title' => 'Nepal Imported 1,807 EVs during Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the data unveiled by the Department of Customs, majority of EVs imported last year came from China. Altogether 823 such vehicles arrived here from China followed by 696 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 184 EVs were brought in Nepal from South Korea, 78 EVs were imported from Japan, 23 from the UK, one from France and the remaining from other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the EVs imported were of 100 kilowatt and 150-200 kilowatt in capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government in the budget of last fiscal year had announced concession in excise duty for the EVs following which encouraging number of EVs made its way to Nepal during last fiscal year compared to the previous fiscal year (FY 2020/21) during which only 261 EVs were imported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government collected over Rs 1.43 billion in revenue from the import of 1,807 EVs in the last fiscal year while over Rs 5 billion flew out of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15440', 'image' => '20220728075905_electricvehicle-1611985899.jpg', 'article_date' => '2022-07-28 07:58:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15698', 'article_category_id' => '1', 'title' => 'Industrialists Present their Problems before Industry Minister', 'sub_title' => '', 'summary' => 'July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During a meeting organized by the Morang Merchants Association, 76-year-old Agarwal told the minister either to correct the tax rates or tell them to jump in the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The iron industry, which I have been operating for 47 years, is now closed,” said Agarwal, adding that the government is punishing the industry without any fault.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Naveen Rijal, president of Morang Merchants Association, said that even though the people have established the system that the leaders wanted through the people’s movement, the politicians are failing to address their aspirations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While informing Minister Badu about the problems faced by the industrial sector due to Russia-Ukraine war, Rijal asked him to take diplomatic initiative for the operation of the Mirganj bridge. He said that the government should take the initiative to open trade with Bangladesh for the industrial development of eastern Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that due to the delay in operation of the Mirganj bridge, the price of every item is more by Rs 2 per kg as they have to travel 105 kilometers more to reach Sunsari's Bhantabari transit point. Rizal said that the government is not serious about the issue of GI wire, vegetable oil, and sanitary pads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pradeep Murarka, the acting president of the Chamber of Industry Morang, said that although India has completed all necessary processes to bring cargo train to the Integrated Check Post, the Nepali side has not done anything concrete to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhim Ghimire, president of Province chapter of the Confederation of Nepalese Industry, said that the interest of bank loans should be brought down to single digit, the insurance companies should stop carteling, and a special economic zone should be built on a PPP model on 600 bigha of land in Amduwa.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Another entrepreneur, Shankarlal Agarwal, demanded the government to implement its commitment. Tara Chand Khaitan, the former president of the Morang Merchants Association, demanded the revocation of the provision to renew the EXIM code to stop smuggling through the open border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hulas Wire’s Director Yukti Golcha, Union Vice President Bikas Begwani, Vice President Anil Sah, Gopal Aggarwal, Pawan Sharda, and Basudev Golyan informed the minister about the problems faced by the industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"For Nepali consumers, import can be substituted only by giving preference to Nepali products," Minister Badu said, adding, "The government itself will bring the sick industries back into operation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15439', 'image' => '20220727080824_1658875100.Clipboard19.jpg', 'article_date' => '2022-07-27 20:07:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15697', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Recovers CCTV Footage which is ‘Unclear’', 'sub_title' => '', 'summary' => 'July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.', '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"">July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.</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"">Nevertheless, the Parliamentary Special Investigation Committee discussed and analyzed the CCTV footage which it obtained with much difficulty. The committee also called experts from the Forensic Science Laboratory of the Nepal Police and held a discussion on Tuesday. According to sources, the footage of the night of May 2</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">8</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">, which was deleted from the CCTV, has been recovered but the scenes are not clear.</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 realizing that the CCTV footage is not clear, the committee called experts to discuss about it. In Tuesday's meeting, the committee members asked the experts about the degradation of the video quality. The sought explanation regarding the absence of date and inability to play 51 clips as a single video. According to one of the members of the investigation committee, the experts said it was due to technical reasons and too many system checks.</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"">Surendra Aryal, member secretary of the committee, said that the experts gave their opinion on the things that were not clear. In response to the question of what was seen on the CCTV, he said, “The CCTV showed what was supposed to be shown. Now everything will be included in the report.” According to Aryal, the committee will hold a meeting at 11 am on Wednesday and start writing the report. Aryal also said that the discussion will be continued and conclusion will be drawn based on not only CCTV footage but all other means of investigation 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""> “CCTV is not the sole evidence. We have other tools as well to reach the truth Aryal 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""> According to sources, the CCTV footage was unable to give clear conclusion. There is a possibility that there may be differences of opinion among the committee members while writing the report. Sources claim that there may be differences between the MPs of the ruling parties and the opposition party UML regarding the conclusion. All the members of the committee agree that the deadline will not be extended again. The committee was initially given a deadline of 10 days, but later 7 days were extended. There are 2 days left for the extended deadline to expire.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15438', 'image' => '20220727050930_20220707122044_ROS_KTM-4187.jpg', 'article_date' => '2022-07-27 17:08:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15696', 'article_category_id' => '1', 'title' => 'Importers Express Concern over Ban on Import of Liquor', 'sub_title' => '', 'summary' => 'July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.', '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"">July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency 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 Nepal Liquor Importers Association held a press conference in the capital on Tuesday and said that the import of ready-made liquor will cost USD 15 per litre, but the same liquor when sold to foreigners in hotels, restaurants and bars can earn as much as USD 120 per litre.</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"">"When importing liquor, an average of USD 15 is lost per litre. But when it is sold from hotels, restaurants and bars, it earns USD 120 per litre,” said Anil Kumar Agarwal, president of the association. </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"">Agarwal also presented the data that the import of ready-made liquor will result in an outflow of USD 1.2 million (Rs 1.5 billion) and the government will receive Rs 3.3 billion as revenue from it. He claimed that the government is encouraging illegal imports by banning the import of ready-made liquor. </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 Agarwal, the amount spent on the import of liquor is only 0.10 per cent of the total foreign exchange reserves spent on the import of various goods in a year.</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 has banned the import of ready-made liquor since April 26. Due to the ban, the supply of foreign liquor from official channels has decreased, and fake goods of international brands have started to enter the market, according to the association.</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 general secretary of the association, Gaurav Sharda, accused the government for giving smugglers the favourable ground to import liquor illegally. According to him, alcohol is a high-taxed commodity, so there is a lot of profit in tax evasion, leading in increase of smuggling in the border areas.</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"">"Even when there was no ban on imports, we have seen that liquor was brought to Nepal from India by smugglers and sold," Sharda said adding.</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 one litre of liquor is imported by dogging the revenue, the profit is Rs 3,500. Last January, the police seized 216 cartons of foreign brand liquor illegally imported from India in Kapan, Baneshwar and other places in the capital.</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"">Sharda asked the media to make news based on facts stating that wrong data is being propagated regarding the import of liquor. </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 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</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' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15437', 'image' => '20220727030007_liquor.jpg', 'article_date' => '2022-07-27 14:59:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15695', 'article_category_id' => '1', 'title' => 'Monetary Policy is Positive: CBFIN', 'sub_title' => '', 'summary' => 'July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive. ', 'content' => '<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""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive while acknowledging that the achievement of the set goals and implementation of some of the arrangements adopted by it to be challenging. The confederation stated that the monetary policy has tightened economic activities for the improvement of the current economic situation due to which the goals set by the monetary policy will be challenging to achieve.</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 said that the monetary policy has adopted timely policies to maintain economic and financial stability and bring the declining economy back on track.</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"">CBFIN has appreciated the central bank for including suggestions such as classification of loans flowing from banks and financial institutions, maintaining different interest rates for loans going to the productive sector and trade, development of the productive sector and credit flow to the productive sector, special priority to export promotion in the monetary policy. Similarly, CBFIN said that the provision of discounts on various services such as remittances brought into the country through formal channels, and the necessary amendments to the Foreign Investment and Foreign Debt Management Regulations, 2078 are highly commendable.</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"">CBFIN expects that the existing arrangements related to remittances will be reviewed to widen the scope of remittances inflow into Nepal and bank accounts will be made mandatory for Nepalese going abroad to help improve foreign exchange reserves. Likewise, it also believes that the increase in access to credit for small, domestic, small and medium enterprises, the productive sector including agriculture, exports and the continuation of re-financing facility for the sectors most affected by the Covid-19 pandemic, and the system where bonds can be counted as deposits, will help in the promotion of the commercial sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15436', 'image' => '20220727022441_monetary policy.jpg', 'article_date' => '2022-07-27 14:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15694', 'article_category_id' => '1', 'title' => 'Government to Receive Grant of Rs 1.37 Billion for Drinking Water Project ', 'sub_title' => '', 'summary' => 'July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference at the Ministry of Communications and Information Technology on Tuesday to disclose the decisions of the cabinet meeting held on July 25, Communications Minister Gyanendra Bahadur Karki shared that the government whas decided to accept 10.5 million euros from the European Union for the drinking water project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to accept grant equivalent to Rs 950 million from the Swiss government for the implementation of quality technical and vocational education and training project in the first phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government also decided to form a high-level study and recommendation committee headed by the National Planning Commission (NPC) Vice-chair to furnish recommendation on immediate measures to be taken on management and reduction of import. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal will be receiving a grant assistance of Japanese yen 376 million (approximately Rs 350 million) from Japan for implementation of the Human Resource Development (JDS) Project in the year 2022/23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The both parties signed and exchanged the notes in this regard amidst a programme at the Ministry of Finance on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Madhu Kumar Marasini and Charge d’affaires ad interim of Japan to Nepal Tamura Takahiro signed the documents on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the same occasion, grant agreement to this effect was signed by joint-secretary Ishwori Prasad Aryal of International Economic Cooperation Coordination Division under the Ministry of Finance and Tanaka Tomoko, senior representative of JICA Nepal, the Ministry of Finance said in a press statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Japan has been providing such scholarship grant to the Government of Nepal in a phase-wise manner. Under the first phase of the project, 80 civil servants have already completed their Master’s Degree and returned home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This grant will be utilized to administer the scholarship programme, including for payment of the university tuition fee, living allowances, settlement allowances, insurances and other basic allowances as well as supply of educational materials for 22 candidates (20 for Master’s degree and 2 for PhD degree) to pursue their degrees in various universities in Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The scholarship provides opportunity of pursuing two years’ Master’s degree and three years PhD courses to young Nepalese civil servants who are academically sound and are motivated to be engaged in Nepal’s socio economic development after completion of their study in Japan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15435', 'image' => '20220727011256_CKK-KTM-MinisterKarkia.jpg', 'article_date' => '2022-07-27 13:12:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15693', 'article_category_id' => '1', 'title' => 'Policy Intervention Needed to Minimize Impact of Nepal’s LDC Graduation on Pharmaceutical Industry', 'sub_title' => '', 'summary' => 'July 27: Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">July 27: </span></span><span style="font-size:13.5pt">Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Speaking at a workshop on ‘Preparedness of Nepal’s pharmaceutical sector in the face of LDC graduation,’ the experts discussed the challenges Nepali pharmaceutical industry will face in the context of new intellectual property regime after Nepal’s graduation from LDC.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">The workshop was jointly organized by South Asia Watch on Trade, Economics and Environment (SAWTEE) and Third World Network (TWN) in Kathmandu on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">They identified the major policy and institutional challenges for the optimal use of Trade Related Aspects on Intellectual Property Rights (TRIPS) flexibilities, and suggested way forward during the workshop, SAWTEE said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Inaugurating the programme, Dr Paras Kharel, executive director of SAWTEE, began by emphasizing the flexibilities that Nepal receives as an LDC and the preparedness of the pharmaceutical sector for the challenges it may encounter after 2026. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Posh Raj Pandey, chairperson of SAWTEE, presented the findings of the draft report “Preparedness of Nepal’s Pharmaceutical sector to cope with the challenges of the country’s LDC graduation” jointly prepared by SAWTEE and TWN. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Pandey suggested that Nepal could still avail different flexibilities even after the graduation, immediately during the transition phase and later as a developing countries too while strengthening the capacity of domestic pharmaceutical manufacturers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Prajwal Jung Pandey, president of the Association of Pharmaceutical Producers of Nepal (APPON), stated that the patent registration process for pharmaceutical companies in Nepal is complex and cumbersome. He mentioned that Nepal has not been able to effectively grab the benefits provided to LDCs. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Shiva Prasad Shrestha, senior vice president of Nepal Medical Association, lamented that Nepal’s pharmaceutical companies are limited to producing basic drugs rather than complex and life-saving drugs. He also stated that unless the government accords effective protection to domestic producers, Nepal’s pharmaceutical sector will have a difficult time surviving. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">KM Gopakumar, senior research and legal advisor to TWN, emphasized that an apt policy response is needed to minimize the impacts of LDC graduation on domestic producers and to ensure access to medicine in an affordable way. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">While the draft law on intellectual property is generally in the right direction, there are rooms for improvements. Likewise, he highlighted the roles that government could play in strengthening the pharmaceutical sector, for instance through providing incentives such as tax breaks in the use of IP flexibilities, favoring domestic producers in procurement policy, providing R&D funds, and by ensuring that patents apply only to inventions, and not to discoveries.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">In the closing remarks, Bharat Bhattarai, director general of the Department of Drug Administration, stated that the government has acknowledged the need for policy reforms in the pharmaceutical sector and the findings of the study has been successful in providing robust policy recommendations. Bhattarai stressed that a holistic approach is needed among stakeholders to invigorate the pharmaceutical sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">According to SAWTEE, the workshop was attended by policy makers, experts from the pharmaceutical sector, medical professionals, representatives from academia, activists and civil society members. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'drugs, medicine, pharmaceutical, industry, LDC, graduation, Nepal', 'description' => '', 'sortorder' => '15434', 'image' => '20220727112621_drugs.jpg', 'article_date' => '2022-07-27 11:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15692', 'article_category_id' => '1', 'title' => 'Nepal Imports Ash worth Rs 2.37 Billion in One Year', 'sub_title' => '', 'summary' => 'July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash. However, the ash that Nepal imports is not made from burning wood.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Customs, Nepal imports four different kinds of ashes and none of them are prepared from burning wood. The department informed that the country imported ashes worth Rs 2.37 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The imported ashes include residual copper, residue of other elements, and ashes prepared from urban waste and sea weeds. The ashes are mainly used as industrial raw materials. They are used to prepare copper utensils and other metal artefacts as well as cement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal is currently able to produce only the ash prepared from urban waste with HS Code 26211000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'ash, import, industrial, raw, material, residue, residual, copper', 'description' => '', 'sortorder' => '15433', 'image' => '20220727105920_ash.jpg', 'article_date' => '2022-07-27 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15706', 'article_category_id' => '1', 'title' => 'Interest on Repo Increases to 8.5 Percent', 'sub_title' => '', 'summary' => 'July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period.', '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"">July 29: With the increase in the policy interest rate announced by the Nepal Rastra Bank through the monetary policy of the current financial year, the interest rates in the market has started to increase for a short-term period. After the implementation of the new policy rate by the Nepal Rastra Bank, the interest rate of inter-bank transaction and repo as well as the discount rate of treasury bills have also increased.</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"">Banks have offered interest up to 8.55 per cent for the repurchase agreement (repo) issued by Nepal Rastra Bank on Thursday. </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"">Banks have bid as much as Rs 60 billion for a repo of Rs 30 billion. Out of the 87 bids from 21 institutions, the minimum interest rate was 8.2 per cent, and the average interest rate was 8.38 per cent, said NRB Spokesperson Dr Gunakar Bhatt.</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 last fiscal year, Nepal Rastra Bank issued repo worth Rs 70 billion three times. Back then, the banks had offered a maximum interest rate of 4.8 per cent only. In the current fiscal year, the NRB has introduced a policy of tightening credit by increasing interest rates. In the monetary policy, the bank rate has been increased by 1.5 percentage points to 8.5 per cent.</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 deadline for standing liquidity facility (SLF) taken by banks for liquidity management has also been reduced by 2 days and is now fixed at 5 days. Similarly, the policy rate has increased from 5.5 per cent to 7 per cent, and the deposit collection rate has increased from 4 per cent to 5.5 per cent. </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 NRB has not issued instructions to implement these provisions, it has already increased the interest rate, which has affected 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"">Even though the NRB has increased the policy rate, the interest rate of inter-bank transactions has also reached 8.48 per cent. The interbank rate was less than 7 per cent until the central bank increased the policy 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, there was a provision to change the policy rate only after the NRB issued a directive, but this year it has already been implemented before issuing such directive. Spokesperson Bhatt said that the policy rate announced by the NRB through the monetary policy has already been implemented by the concerned department.</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> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15447', 'image' => '20220729030330_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-07-29 15:02:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15704', 'article_category_id' => '1', 'title' => 'National Pride Projects Lack Clear Modality: Parliamentary Committee', 'sub_title' => '', 'summary' => 'July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">July 29: A parliamentary committee has concluded that most of the national pride projects have become problematic. The National Interest Coordination Committee of the upper house reached such conclusion based on a recent study conducted by the committee.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The study report states that most of the national pride projects are in problem because of lack of preparedness while announcing the project as well as lack of clear modality in implementing those projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As per the report, the National Planning Commission must take into consideration the topics such as strategic development and fiscal, technical and managerial issues while announcing national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The parliamentary committee report has also pointed out the need to take into consideration the assessment of financial and social aspects and environmental impact assessment along with employment opportunities, poverty alleviation, inclusion and end of discrimination among other issues while preparing the base for a national pride project.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Dil Kumari Rawal Thapa said that the study team found that the NPC did not have any clear basis while selecting national pride projects. As a result, even the projects without any preliminary feasibility report have been included as national pride projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The report has suggested the government to ensure that the design of the national pride projects maintains balance between development and environment and causes minimal damage to the forest areas. </span></span></p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15446', 'image' => '20220729094952_nepal-parl.jpg', 'article_date' => '2022-07-29 09:49:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15705', 'article_category_id' => '1', 'title' => 'US Assistant Secretary Lu in a ‘Meaningful’ Visit to Nepal', 'sub_title' => '', 'summary' => 'July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bijay Damase</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 29: US Assistant Secretary of State for South and Central Asian Affairs, Donald Lu, arrived in Nepal on Thursday for a tow-day visit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the first highly-ranked diplomat of the USA to visit Nepal five weeks after the Government of Nepal decided not to proceed ahead with the State Partnership Programme (SPP) of the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu’s visit is considered to be ‘meaningful’ in this context.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The senior official of the USA visited Nepal via New Delhi at a time when Prime Minister Sher Bahadur Deuba’s US visit has become uncertain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu, who is in charge of the South and Central Asia Affairs, is scheduled to meet Prime Minister Sher Bahadur Deuba and Minister for Foreign Affairs Dr Narayan Khadka today (July 29). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prime Minister Deuba was preparing to visit the USA between mid-July to the end of July but the visit was put on hold after the government decided not to move ahead with the SPP project. The USA is reportedly in favour of implementing the SPP in Nepal to counter the growing influence of China. It has been learnt that the USA is annoyed with Nepal’s decision not to forward the SPP. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the Council of Ministers had decided not to endorse the SPP, the government has not written any official letter to the US government in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is believed that Lu will discuss this issue with PM Deuba as well as his stalled visit to the USA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the US embassy in Nepal has said that Lu is in a routine visit to this region. A statement issued by the US embassy says that Lu will be handing over the Award for Corporate Excellence Purnaa, a U.S. manufacturing company in Nepal that promotes ethical manufacturing by empowering traditionally marginalized people and survivors of exploitation. Assistant Secretary Lu will also meet with business, civil society, and government leaders during his two-day visit, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lu is the same official who had warned top leaders of Nepal in February that the US government will review its relation with Nepal of the Millennium Challenge Corporation (MCC) is not endorsed by parliament. Prior to that, he had visited Nepal in November and set the deadline of February 8 for endorsing the MCC grant agreement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-29', 'modified' => '2022-07-29', 'keywords' => '', 'description' => '', 'sortorder' => '15445', 'image' => '20220729101815_AS-Donald-Lu-1.jpg', 'article_date' => '2022-07-29 10:17:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15703', 'article_category_id' => '1', 'title' => 'Government to Re-operate Biratnagar Jute Mills', 'sub_title' => 'Feasibility Study underway to Re-operate Janakpur Cigarette Factory: Minister Badu ', 'summary' => 'July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has assured that the government will make attempts to re-operate Biratnagar Jute Mills, the first industry of Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu made such remarks after an on-site visit to the Biratnagar Jute Mills, which is currently shut down. Prior to this, two former industry ministers had also made such commitment but failed to do so. </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"">Back in 2018, the then Industry Minister Matrika Prasad Yadav had also visited Biratnagar Jute Mills on May 5 and pledged to reopen the defunct industry. Before that, the then Industry Minister Mahesh Basnet had also made the same announcement. However, Nilhari Kafle, who was appointed the chairman of the mill by Basnet, was dragged into a controversy and subsequently stepped down. </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"">Minister Badu has once again assured to operate the mill along with Janakpur Cigarette Factory, Nepal Metal Industry, Gorakhali Rubber Industry, Hetauda Textile, Birgunj Sugar Mill among other sick industries.</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"">Badu said that the government is conducting feasibility study to revive Janakpur Cigarette Factory. </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"">Talking to media persons after monitoring the factory that is defunct at present, Minister Badu informed that the government would take decision after conducting studies on modalities to re-operate sick industries across the country. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Badu said he was making on-site visit of the factory as a part of the government's plan to re-operate sick industries. The government, he added, aimed to reduce trade deficit by substituting imports in collaboration with the private sector. He added that the government intends to increase productivity and create job opportunities through this initiative. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that he arrived in Janakpur to take stock of the “once very famous factory” and the condition of its machineries as well as its assets. </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"">He was accompanied by Minister for Physical Infrastructure Development of Madhesh Province Ram Saroj Yadav and provincial government's employees among others. </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"">Minister Badu and provincial ministers also discussed ways to re-operate the Janakpur Cigarette Factory. (With inputs from RSS ) </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15444', 'image' => '20220728031527_1476600216_jute_mills_vCafOj3vah..jpg', 'article_date' => '2022-07-28 15:14:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15702', 'article_category_id' => '1', 'title' => 'Promoting Handicraft Products Gives Self-Satisfaction to Archana Singh', 'sub_title' => '', 'summary' => 'July 28: After studying up to a certain level, a person desires for job.', '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"">July 28: After studying up to a certain level, a person desires for job. Nobody tends to waver from the job if it is attractively paid, is safe and is associated with an international organisation. There are hardly any people who leave such jobs and opt for other professions. However, Archana Singh, owner of Craftmandu Handicraft is one of such rare figures.</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"">Singh was working in the UNODC, a United Nations agency on drugs and crime reduction. Singh was the programme coordinator for Nepal in that organisation. However, she gave up the job and got into the field of handicraft. She feels that she is better known by the handicraft business than by her UN job. </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"">“I get self-satisfaction from it. Here, I have been able to contribute something for others,” says Singh.</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"">She worked for UNODC and ILO for about 16 years. After that, thinking that he should to do something by herself, she chose handicraft, an area of her interest since her childhood. </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"">“When I joined, I did not have much knowledge about handicrafts, but I left my job and came here because it was an area of my interest since childhood,” she said. Her family and relatives did not like her decision to quit her job. But when the handicraft business got better, everyone encouraged her to work towards her interest. She says it is easy to achieve more success in business with the encouragement of family and society.</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"">Singh says that because of the urge to do something in the field of handicrafts, her interest towards job started fading. </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"">“There was no risk in the job. I was paid monthly. But I chose this profession to fulfil my desire to do something in the field of handicrafts.”</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"">When she started a new venture, it was very challenging to compete with established businessmen years ago. However, she kept marching forward. Singh says that although she does not produce, she buys and sells the products of other women and street children and supports such entrepreneurs.</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"">She said that after completing her master's degree in international development from America, she came back to do something in her country. She shared, “Despite coming here and working in various organizations for years, the dream of promoting Nepali products by working in the handicraft sector did not leave my mind.”</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"">Today she is established as a successful woman entrepreneur. Singh herself also paints and makes pots. She said that she only promotes Nepali products while combining her dream and business. </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"">At her Craftmandu Handicraft in Jhamsikhel, Lalitpur, children's clothes, kurtas, pashminas, gift items, cups, hand-painted cards, leather bags, purses, chocolates, silver items are sold. She says that before the earthquake and the Covid-19 pandemic, about 80 percent of the customers were foreigners, but now, the number of foreign customers has declined.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15443', 'image' => '20220728022352_936448_5129363.jpg', 'article_date' => '2022-07-28 14:23:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15701', 'article_category_id' => '1', 'title' => 'PATA Nepal to Organise 'Nepal Sales Mission-2022' in Thailand ', 'sub_title' => '', 'summary' => 'July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The Nepal chapter of Pacific Asia Travel Association (PATA) is preparing to organise 'Nepal Sales Mission-2022' in Bangkok, the capital of Thailand on August 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Sales Mission-2022 is going to be organised with the objective of helping the post COVID-19 tourism revival campaign. </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""> According to PATA Nepal, 20 tourism entrepreneurs, affiliated with PATA Nepal, and professionals would participate in the mission going to be organised in collaboration with Nepal Airlines Corporation, Thai Travel Agents Association, SS Group Thailand and Jawalakhel Group of Industries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, more than 40 stakeholders associated to the tourism sector including Thai Travel Agents and Tour Operators, media would also participate in the mission. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal’s Ambassador to Thailand, Ganesh Prasad Dhakal, would be the chief guest of the Nepal Sales Mission where CEO of PATA International, Liz Ortiguera, would participate as the special guest and keynote speaker. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chair of PATA Nepal chapter, Bibhuti Chand Thakur, expressed the belief that the Nepal Sales Mission would be the best forum to promote tourism potential between Nepal and Thailand, with Gautam Buddha international Airport already in operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a Nepali delegation would also participate in the 'Sixth PATA Destination Marketing Forum' to be held in Thailand from August 2-4, reads a press statement issued by PATA Nepal on Wednesday. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15442', 'image' => '20220728124411_PN-Nepal-Sales-Mission-2022-Thailand.jpg', 'article_date' => '2022-07-28 12:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15700', 'article_category_id' => '1', 'title' => 'Government to Adopt Trade Integration Strategy', 'sub_title' => '', 'summary' => 'July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. ', '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"">July 28: The government is preparing to adopt an integrated business strategy for sustainable development of the economy. The Ministry of Industry, Commerce and Supplies has initiated the process of taking suggestions from stakeholders to finalize the 'Nepal Trade Integration Strategy 2079'.</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"">While Nepal is preparing to be upgraded from underdeveloped to developing country in the next few years, the government is preparing an integrated strategy, considering opportunities and challenges. </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"">Such strategy is going to be formulated during the Fifteenth Development Plan (2077-2081) with the objective of building an independent and socialist-oriented economy.</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 preliminary strategy prepared by the government was discussed in Birgunj on Wednesday. The ministry said that the integrated strategy will be finalized after taking suggestions from stakeholders. The government prepared a draft of the strategy with the support of the European Union, Nepal Trade and Investment Program and the Investment Program Facility.</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"">An expert group led by former Finance Secretary Rameshwar Khanal prepared the draft of the strategy. Khanal informed that the strategy focuses on the issue of the impact on foreign trade and how to solve it when Nepal transitions to the list of developing 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"">After Nepal's upgrade, there will be no significant difference in trade with India, says Khanal. Experts say that the main purpose of the strategy is to find solutions to challenges and opportunities in trade with the European Union and the United States. Currently, the ratio of gross domestic product (GDP) and foreign trade is 39.3 percent, and the target is to increase it to 55 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"">Khanal informed that the ratio of exports of goods and services to GDP is 6.61 percent and the goal is to increase it to 20 percent. The strategy also emphasizes on studying what goods are being imported by other countries and from where, in order to increase exports and the possibility of Nepal exporting such goods to those 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"">The government is planning to strengthen economic diplomacy to increase exports. At present, diplomatic missions and ambassadors in various countries will be mobilized to attract export trade and investment.</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 policy is to build business-supporting infrastructure and strengthen food security. </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"">Pushpa Sharma, a member of the expert group, said that plans are being made to this end.</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"">Improving quality and industrial standards will also be emphasized. </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"">Another expert, Rojan Bajracharya, said that while modernizing the production process, import substitution and export enhancement will be carried out strategically.</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"">Ganesh Prasad Lath, president of Madhes Province chapter of FNCCI, said that the efficiency of the business strategy depends on its successful implementation. </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"">Subodh Kumar Gupta, president of Birganj Chamber of Commerce and Industry, Mohan Sharma, president of Jitpur-Simara Chamber of Commerce and Industry, leather industrialist Mohammad Junaid Iftkhan and others said that the business strategy should focus on reducing the cost of production. They claimed that unless the cost of domestic production is cheap, it cannot survive in the domestic market, let alone exports.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15441', 'image' => '20220728124828_1658961573.Clipboard25.jpg', 'article_date' => '2022-07-28 12:06:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15699', 'article_category_id' => '1', 'title' => 'Nepal Imported 1,807 EVs during Last Fiscal Year', 'sub_title' => '', 'summary' => 'July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: A total of 1,807 electric vehicles (EVs) were imported in the country in the last fiscal year (FY 2021/22). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the data unveiled by the Department of Customs, majority of EVs imported last year came from China. Altogether 823 such vehicles arrived here from China followed by 696 from India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, 184 EVs were brought in Nepal from South Korea, 78 EVs were imported from Japan, 23 from the UK, one from France and the remaining from other countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the EVs imported were of 100 kilowatt and 150-200 kilowatt in capacity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government in the budget of last fiscal year had announced concession in excise duty for the EVs following which encouraging number of EVs made its way to Nepal during last fiscal year compared to the previous fiscal year (FY 2020/21) during which only 261 EVs were imported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government collected over Rs 1.43 billion in revenue from the import of 1,807 EVs in the last fiscal year while over Rs 5 billion flew out of the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-28', 'modified' => '2022-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '15440', 'image' => '20220728075905_electricvehicle-1611985899.jpg', 'article_date' => '2022-07-28 07:58:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15698', 'article_category_id' => '1', 'title' => 'Industrialists Present their Problems before Industry Minister', 'sub_title' => '', 'summary' => 'July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">July 27: Veteran entrepreneur Jagdish Agarwal, who has been operating Mainawati Steel Industry and Kamala Iron Industry for 47 years, has told Minister for Industry, Commerce, and Supply Dilendra Prasad Badu that the industrialists are in a state of existential crisis due to the government's recent change in tax rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">During a meeting organized by the Morang Merchants Association, 76-year-old Agarwal told the minister either to correct the tax rates or tell them to jump in the river.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"The iron industry, which I have been operating for 47 years, is now closed,” said Agarwal, adding that the government is punishing the industry without any fault.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Naveen Rijal, president of Morang Merchants Association, said that even though the people have established the system that the leaders wanted through the people’s movement, the politicians are failing to address their aspirations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">While informing Minister Badu about the problems faced by the industrial sector due to Russia-Ukraine war, Rijal asked him to take diplomatic initiative for the operation of the Mirganj bridge. He said that the government should take the initiative to open trade with Bangladesh for the industrial development of eastern Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">He said that due to the delay in operation of the Mirganj bridge, the price of every item is more by Rs 2 per kg as they have to travel 105 kilometers more to reach Sunsari's Bhantabari transit point. Rizal said that the government is not serious about the issue of GI wire, vegetable oil, and sanitary pads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Pradeep Murarka, the acting president of the Chamber of Industry Morang, said that although India has completed all necessary processes to bring cargo train to the Integrated Check Post, the Nepali side has not done anything concrete to this end.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Bhim Ghimire, president of Province chapter of the Confederation of Nepalese Industry, said that the interest of bank loans should be brought down to single digit, the insurance companies should stop carteling, and a special economic zone should be built on a PPP model on 600 bigha of land in Amduwa.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Another entrepreneur, Shankarlal Agarwal, demanded the government to implement its commitment. Tara Chand Khaitan, the former president of the Morang Merchants Association, demanded the revocation of the provision to renew the EXIM code to stop smuggling through the open border.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Hulas Wire’s Director Yukti Golcha, Union Vice President Bikas Begwani, Vice President Anil Sah, Gopal Aggarwal, Pawan Sharda, and Basudev Golyan informed the minister about the problems faced by the industry.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"For Nepali consumers, import can be substituted only by giving preference to Nepali products," Minister Badu said, adding, "The government itself will bring the sick industries back into operation.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15439', 'image' => '20220727080824_1658875100.Clipboard19.jpg', 'article_date' => '2022-07-27 20:07:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15697', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Recovers CCTV Footage which is ‘Unclear’', 'sub_title' => '', 'summary' => 'July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.', '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"">July 27: The parliamentary probe committee, set up to investigate allegations of tax rates manipulation against former finance minister Janardhan Sharma by involving unauthorized persons, has so far failed to acquire enough evidence to confirm the allegations.</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"">Nevertheless, the Parliamentary Special Investigation Committee discussed and analyzed the CCTV footage which it obtained with much difficulty. The committee also called experts from the Forensic Science Laboratory of the Nepal Police and held a discussion on Tuesday. According to sources, the footage of the night of May 2</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">8</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">, which was deleted from the CCTV, has been recovered but the scenes are not clear.</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 realizing that the CCTV footage is not clear, the committee called experts to discuss about it. In Tuesday's meeting, the committee members asked the experts about the degradation of the video quality. The sought explanation regarding the absence of date and inability to play 51 clips as a single video. According to one of the members of the investigation committee, the experts said it was due to technical reasons and too many system checks.</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"">Surendra Aryal, member secretary of the committee, said that the experts gave their opinion on the things that were not clear. In response to the question of what was seen on the CCTV, he said, “The CCTV showed what was supposed to be shown. Now everything will be included in the report.” According to Aryal, the committee will hold a meeting at 11 am on Wednesday and start writing the report. Aryal also said that the discussion will be continued and conclusion will be drawn based on not only CCTV footage but all other means of investigation 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""> “CCTV is not the sole evidence. We have other tools as well to reach the truth Aryal 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""> According to sources, the CCTV footage was unable to give clear conclusion. There is a possibility that there may be differences of opinion among the committee members while writing the report. Sources claim that there may be differences between the MPs of the ruling parties and the opposition party UML regarding the conclusion. All the members of the committee agree that the deadline will not be extended again. The committee was initially given a deadline of 10 days, but later 7 days were extended. There are 2 days left for the extended deadline to expire.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15438', 'image' => '20220727050930_20220707122044_ROS_KTM-4187.jpg', 'article_date' => '2022-07-27 17:08:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15696', 'article_category_id' => '1', 'title' => 'Importers Express Concern over Ban on Import of Liquor', 'sub_title' => '', 'summary' => 'July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency from Nepal.', '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"">July 27: Liquor importers have said that the government’s ban on import of ready-made liquor has done more harm to foreign exchange reserves than the outflow of currency 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 Nepal Liquor Importers Association held a press conference in the capital on Tuesday and said that the import of ready-made liquor will cost USD 15 per litre, but the same liquor when sold to foreigners in hotels, restaurants and bars can earn as much as USD 120 per litre.</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"">"When importing liquor, an average of USD 15 is lost per litre. But when it is sold from hotels, restaurants and bars, it earns USD 120 per litre,” said Anil Kumar Agarwal, president of the association. </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"">Agarwal also presented the data that the import of ready-made liquor will result in an outflow of USD 1.2 million (Rs 1.5 billion) and the government will receive Rs 3.3 billion as revenue from it. He claimed that the government is encouraging illegal imports by banning the import of ready-made liquor. </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 Agarwal, the amount spent on the import of liquor is only 0.10 per cent of the total foreign exchange reserves spent on the import of various goods in a year.</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 has banned the import of ready-made liquor since April 26. Due to the ban, the supply of foreign liquor from official channels has decreased, and fake goods of international brands have started to enter the market, according to the association.</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 general secretary of the association, Gaurav Sharda, accused the government for giving smugglers the favourable ground to import liquor illegally. According to him, alcohol is a high-taxed commodity, so there is a lot of profit in tax evasion, leading in increase of smuggling in the border areas.</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"">"Even when there was no ban on imports, we have seen that liquor was brought to Nepal from India by smugglers and sold," Sharda said adding.</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 one litre of liquor is imported by dogging the revenue, the profit is Rs 3,500. Last January, the police seized 216 cartons of foreign brand liquor illegally imported from India in Kapan, Baneshwar and other places in the capital.</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"">Sharda asked the media to make news based on facts stating that wrong data is being propagated regarding the import of liquor. </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 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</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' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15437', 'image' => '20220727030007_liquor.jpg', 'article_date' => '2022-07-27 14:59:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15695', 'article_category_id' => '1', 'title' => 'Monetary Policy is Positive: CBFIN', 'sub_title' => '', 'summary' => 'July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive. ', 'content' => '<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""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">July 27: The Confederation of Banks and Financial Institutions Nepal (CBFIN) has termed the monetary policy for the current fiscal year to be overall positive while acknowledging that the achievement of the set goals and implementation of some of the arrangements adopted by it to be challenging. The confederation stated that the monetary policy has tightened economic activities for the improvement of the current economic situation due to which the goals set by the monetary policy will be challenging to achieve.</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 said that the monetary policy has adopted timely policies to maintain economic and financial stability and bring the declining economy back on track.</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"">CBFIN has appreciated the central bank for including suggestions such as classification of loans flowing from banks and financial institutions, maintaining different interest rates for loans going to the productive sector and trade, development of the productive sector and credit flow to the productive sector, special priority to export promotion in the monetary policy. Similarly, CBFIN said that the provision of discounts on various services such as remittances brought into the country through formal channels, and the necessary amendments to the Foreign Investment and Foreign Debt Management Regulations, 2078 are highly commendable.</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"">CBFIN expects that the existing arrangements related to remittances will be reviewed to widen the scope of remittances inflow into Nepal and bank accounts will be made mandatory for Nepalese going abroad to help improve foreign exchange reserves. Likewise, it also believes that the increase in access to credit for small, domestic, small and medium enterprises, the productive sector including agriculture, exports and the continuation of re-financing facility for the sectors most affected by the Covid-19 pandemic, and the system where bonds can be counted as deposits, will help in the promotion of the commercial sector.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15436', 'image' => '20220727022441_monetary policy.jpg', 'article_date' => '2022-07-27 14:23:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15694', 'article_category_id' => '1', 'title' => 'Government to Receive Grant of Rs 1.37 Billion for Drinking Water Project ', 'sub_title' => '', 'summary' => 'July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 7: The government has decided to accept grant of Rs 1.37 billion for the Sustainable WASH for All project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference at the Ministry of Communications and Information Technology on Tuesday to disclose the decisions of the cabinet meeting held on July 25, Communications Minister Gyanendra Bahadur Karki shared that the government whas decided to accept 10.5 million euros from the European Union for the drinking water project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has also decided to accept grant equivalent to Rs 950 million from the Swiss government for the implementation of quality technical and vocational education and training project in the first phase. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government also decided to form a high-level study and recommendation committee headed by the National Planning Commission (NPC) Vice-chair to furnish recommendation on immediate measures to be taken on management and reduction of import. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal will be receiving a grant assistance of Japanese yen 376 million (approximately Rs 350 million) from Japan for implementation of the Human Resource Development (JDS) Project in the year 2022/23. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The both parties signed and exchanged the notes in this regard amidst a programme at the Ministry of Finance on Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Secretary Madhu Kumar Marasini and Charge d’affaires ad interim of Japan to Nepal Tamura Takahiro signed the documents on behalf of their respective governments. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the same occasion, grant agreement to this effect was signed by joint-secretary Ishwori Prasad Aryal of International Economic Cooperation Coordination Division under the Ministry of Finance and Tanaka Tomoko, senior representative of JICA Nepal, the Ministry of Finance said in a press statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Government of Japan has been providing such scholarship grant to the Government of Nepal in a phase-wise manner. Under the first phase of the project, 80 civil servants have already completed their Master’s Degree and returned home. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This grant will be utilized to administer the scholarship programme, including for payment of the university tuition fee, living allowances, settlement allowances, insurances and other basic allowances as well as supply of educational materials for 22 candidates (20 for Master’s degree and 2 for PhD degree) to pursue their degrees in various universities in Japan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The scholarship provides opportunity of pursuing two years’ Master’s degree and three years PhD courses to young Nepalese civil servants who are academically sound and are motivated to be engaged in Nepal’s socio economic development after completion of their study in Japan. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '15435', 'image' => '20220727011256_CKK-KTM-MinisterKarkia.jpg', 'article_date' => '2022-07-27 13:12:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15693', 'article_category_id' => '1', 'title' => 'Policy Intervention Needed to Minimize Impact of Nepal’s LDC Graduation on Pharmaceutical Industry', 'sub_title' => '', 'summary' => 'July 27: Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">July 27: </span></span><span style="font-size:13.5pt">Experts have stressed on policy intervention to minimize the impacts of Nepal’s graduation from least-developed country (LDC) on the pharmaceutical industry of the country and to ensure access to medicine in an affordable way.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Speaking at a workshop on ‘Preparedness of Nepal’s pharmaceutical sector in the face of LDC graduation,’ the experts discussed the challenges Nepali pharmaceutical industry will face in the context of new intellectual property regime after Nepal’s graduation from LDC.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">The workshop was jointly organized by South Asia Watch on Trade, Economics and Environment (SAWTEE) and Third World Network (TWN) in Kathmandu on Tuesday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">They identified the major policy and institutional challenges for the optimal use of Trade Related Aspects on Intellectual Property Rights (TRIPS) flexibilities, and suggested way forward during the workshop, SAWTEE said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Inaugurating the programme, Dr Paras Kharel, executive director of SAWTEE, began by emphasizing the flexibilities that Nepal receives as an LDC and the preparedness of the pharmaceutical sector for the challenges it may encounter after 2026. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Posh Raj Pandey, chairperson of SAWTEE, presented the findings of the draft report “Preparedness of Nepal’s Pharmaceutical sector to cope with the challenges of the country’s LDC graduation” jointly prepared by SAWTEE and TWN. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Pandey suggested that Nepal could still avail different flexibilities even after the graduation, immediately during the transition phase and later as a developing countries too while strengthening the capacity of domestic pharmaceutical manufacturers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Prajwal Jung Pandey, president of the Association of Pharmaceutical Producers of Nepal (APPON), stated that the patent registration process for pharmaceutical companies in Nepal is complex and cumbersome. He mentioned that Nepal has not been able to effectively grab the benefits provided to LDCs. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">Dr Shiva Prasad Shrestha, senior vice president of Nepal Medical Association, lamented that Nepal’s pharmaceutical companies are limited to producing basic drugs rather than complex and life-saving drugs. He also stated that unless the government accords effective protection to domestic producers, Nepal’s pharmaceutical sector will have a difficult time surviving. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">KM Gopakumar, senior research and legal advisor to TWN, emphasized that an apt policy response is needed to minimize the impacts of LDC graduation on domestic producers and to ensure access to medicine in an affordable way. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">While the draft law on intellectual property is generally in the right direction, there are rooms for improvements. Likewise, he highlighted the roles that government could play in strengthening the pharmaceutical sector, for instance through providing incentives such as tax breaks in the use of IP flexibilities, favoring domestic producers in procurement policy, providing R&D funds, and by ensuring that patents apply only to inventions, and not to discoveries.</span> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">In the closing remarks, Bharat Bhattarai, director general of the Department of Drug Administration, stated that the government has acknowledged the need for policy reforms in the pharmaceutical sector and the findings of the study has been successful in providing robust policy recommendations. Bhattarai stressed that a holistic approach is needed among stakeholders to invigorate the pharmaceutical sector. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:13.5pt">According to SAWTEE, the workshop was attended by policy makers, experts from the pharmaceutical sector, medical professionals, representatives from academia, activists and civil society members. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'drugs, medicine, pharmaceutical, industry, LDC, graduation, Nepal', 'description' => '', 'sortorder' => '15434', 'image' => '20220727112621_drugs.jpg', 'article_date' => '2022-07-27 11:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15692', 'article_category_id' => '1', 'title' => 'Nepal Imports Ash worth Rs 2.37 Billion in One Year', 'sub_title' => '', 'summary' => 'July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: A few days ago, Speaker of the House of Representatives Agni Prasad Sapkota had expressed concerns regarding the import of ash when Nepal itself has abundant forests to prepare ash. However, the ash that Nepal imports is not made from burning wood.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Department of Customs, Nepal imports four different kinds of ashes and none of them are prepared from burning wood. The department informed that the country imported ashes worth Rs 2.37 billion during the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The imported ashes include residual copper, residue of other elements, and ashes prepared from urban waste and sea weeds. The ashes are mainly used as industrial raw materials. They are used to prepare copper utensils and other metal artefacts as well as cement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal is currently able to produce only the ash prepared from urban waste with HS Code 26211000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-07-27', 'modified' => '2022-07-27', 'keywords' => 'ash, import, industrial, raw, material, residue, residual, copper', 'description' => '', 'sortorder' => '15433', 'image' => '20220727105920_ash.jpg', 'article_date' => '2022-07-27 10:57:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
