May 23: A total of 140 electricity poles collapsed in Bharatpur collapsed due to the windstorm on Friday evening, resulting in electricity power…
May 23: A total of 140 electricity poles collapsed in Bharatpur collapsed due to the windstorm on Friday evening, resulting in electricity power…
May 23: Draupadi Dream Trust of India has honoured Shreejana Rana, president of Nepal-India Chamber of Commerce and Industry as well as the Hotel Association of Nepal, with Draupadi Letter of Appreciation 2022 in New Delhi amid a recent function.…
May 22: Nepal Chamber of Commerce (NCC) has proposed to Bangladesh to cooperate in the energy sector.…
May 22: Collection of the yarsagumba, an aphrodisiac herb found in the Himalayan region, will be opened for public in Dolpa district from May…
May 22: Lawmakers have pressed for ensuring programmes in the budget for the upcoming fiscal year that address their basic needs and are easily accessible to the…
May 22: India's ban on wheat exports last week is going to affect the production of six flour mills and dozens of other wheat-based industries in Nepal.…
May 22: Most of the major hospitals in the Kathmandu Valley will be operational on Sundays despite the government's decision to grant public holiday for two days a week.…
May 20: The state-owned Salt Trading Corporation, which is responsible for buying and selling food and fertilizer at subsidized rate, has 21,000 quintals of flour in stock.…
May 20: As soon as the Indian government imposed a ban on the exports of wheat, its price skyrocketed in the international…
May 20: Tourism entrepreneurs of Chitwan are excited after the government announced a public holiday on Sunday.…
May 20: With only nine days left for the budget announcement, discussions are underway in the parliament on the priorities and principles of the Appropriation…
May 20: The Foreign Employment Office, Kathmandu has informed that it will launch online service for all kinds of labour permits from today (May…
May 19: Finance Minister Janardan Sharma on Tuesday presented the principles and priorities of the Appropriation Bill for the budget of the upcoming fiscal year in the federal…
May 19: Share trading of 14 companies has been halted due to the process of merger and…
May 19: Credit flow and deposit collection of banks have been steadily declining.…
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According to Rajendra Poudel, an engineer at the Nepal Electricity Authority's Bharatpur Distribution Center, the poles collapsed in wards number 1 to 6 of the Bharatpur metropolitan city. He said that it will take five days for the management of poles before they can ensure smooth supply of electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Rajiv Kumar Singh, head of the center, the power supply from Bharatpur substation has been disrupted. According to him, the cables at multiple places snapped due to collapsing of poles in Bharatpur due to strong winds. He also informed that the NEA mobilized a team of four contractors and the entire technical force of NEA to repair the collapsed poles and cables. Singh said that the power supply is being restored by prioritizing critical sectors including hospitals and security agencies, polling stations and drinking water utility.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Engineer Poudel said that there were no issues with the distribution of electricity from Chanauli substation. He said that although there is no problem in the flow of electricity in the western region of Bharatpur, problems have surfaced in the flow of electricity to the district headquarters Bharatpur, Narayangarh market area and Ratnanagar Khairhani of East Chitwan. He informed that materials worth Rs 3 million were damaged and electricity consumption of Rs 50 million was disrupted due to the impact of the windstorm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mobile phone service along with drinking water and internet services have also been affected due to prolonged power outage. Three people were killed and 11 others were injured in the storm on Friday. Many trees in the main urban area of Bharatpur were hit by the storm, causing them to collapse. In most places, the collapsing of trees caused the electricity poles to collapse as well.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-23', 'modified' => '2022-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '15058', 'image' => '20220523025725_Thuderstorm.jpg', 'article_date' => '2022-05-23 13:23:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15315', 'article_category_id' => '1', 'title' => 'Draupadi Dream Trust honours Shreejana Rana with Draupadi Award 2022 ', 'sub_title' => '', 'summary' => 'May 23: Draupadi Dream Trust of India has honoured Shreejana Rana, president of Nepal-India Chamber of Commerce and Industry as well as the Hotel Association of Nepal, with Draupadi Letter of Appreciation 2022 in New Delhi amid a recent function. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 23: Draupadi Dream Trust of India has honoured Shreejana Rana, president of Nepal-India Chamber of Commerce and Industry as well as the Hotel Association of Nepal, with Draupadi Letter of Appreciation 2022 in New Delhi amid a recent function. Rana was honoured for her contribution to Nepal-India bilateral relations through the development and promotion of religious/spiritual tourism in both the countries as the president of Nepal-India Chamber of Commerce.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Draupadi Dream Trust is an institution working on the area of ancient eastern civilization, art, culture, religion and history and publication of such related issues for a long time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rana was honoured for her initiation and contribution to publishing a book and dedicated website on Nepal-India religious/spiritual circuits which covers Buddhist circuits, Mahabharat circuits Ramayan circuit, Shiva-Shakti circuit and Sikh circuit aiming to promote pilgrimage tourism in both the countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rana was honoured amid a special programme in New Delhi and was conferred the letter of appreciation by Ajit Doval, chief security advisor to the Indian Government, on 20th May 2022. The trust honoured various other Indian dignitaries from different walks of life, while Rana was the only Nepali to bag such honour.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal-India Chamber of Commerce and Industry said in a statement that it feels proud at this moment and encourages to work sincerely in the area of Nepal-India economic and bilateral relations in the coming days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepalese Ambassador to India Dr Shankar Sharma was also present on the occasion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-23', 'modified' => '2022-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '15057', 'image' => '20220523120702_IMG-20220521-WA0028.jpg', 'article_date' => '2022-05-23 12:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15313', 'article_category_id' => '1', 'title' => 'NCC urges Bangladesh for Energy Cooperation ', 'sub_title' => '', 'summary' => 'May 22: Nepal Chamber of Commerce (NCC) has proposed to Bangladesh to cooperate in the energy sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 22: Nepal Chamber of Commerce (NCC) has proposed to Bangladesh to cooperate in the energy sector. The NCC has requested for electricity trade with Bangladesh as Nepal will soon be exporting electricity. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at a programme organized at the Bangladesh Embassy in Kathmandu on Friday on the occasion of the 50th anniversary of the establishment of diplomatic relations between Nepal and Bangladesh, Chairman of NCC Rajendra Malla stressed on the implementation of the tripartite agreement on electricity trade between Nepal, India and Bangladesh. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Nepal, India and Bangladesh have reached a tripartite agreement for energy trade. There should be an immediate result-oriented meeting between the energy ministers of the three countries for its effective implementation,” he said in a discussion with the Bangladesh’s ambassador to Nepal, Salahuddin Noman Chowdhury.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> We’ll take the initiative representing the private sector. The government of Bangladesh should also take initiative. Nepal is preparing to sell electricity to Bangladesh,” added Malla. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Malla said that Nepal will be able to export electricity in at least one year from now. According to him, at least 50 megawatts of electricity can be generated for export to India from the existing transmission line and the three countries will have to do their homework for the terms and conditions for electricity trade. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the context of the high demand for energy in Bangladesh, there was a discussion between the two countries on various options for exporting electricity from Nepal. Despite the agreement on the energy trade between Nepal, Bangladesh and India, it has not been implemented in practice. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Malla urged Bangladesh’s ambassador to Nepal to invest in the hydropower sector of Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ambassador Chowdhury said that Bangladesh is ready to buy the electricity produced by Nepal. “Within next few years, Bangladesh will promote green energy,” he said, “Accordingly, our priorities and plans are being made. We are excited to buy electricity from Nepal.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He further said that he would take the initiative to urge the the Government of Bangladesh to start the necessary process to purchase electricity from Nepal through India. Likewise, he said that they are expecting policy improvement for the investment in other sectors as well. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15055', 'image' => '20220522073826_02062016090632Nepal-Bdesh-copy.jpg', 'article_date' => '2022-05-22 19:37:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15312', 'article_category_id' => '1', 'title' => 'Yarsagumba Collection to Start in Dolpa from May 25 ', 'sub_title' => '', 'summary' => 'May 22: Collection of the yarsagumba, an aphrodisiac herb found in the Himalayan region, will be opened for public in Dolpa district from May 25.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: Collection of the yarsagumba, an aphrodisiac herb found in the Himalayan region, will be opened for public in Dolpa district from May 25. An all-party meeting convened by the District Coordination Committee, Dolpa took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting chaired by DCC Chief Sher Bahadur Budha at the district headquarters Dunai on Saturday was attended by the chief representatives of various district bodies. It has decided to allow collection of yarsagumba, which is scientifically known as ophiocordyceps sinensis, in Shephoksundo National Park and various community forests until June 24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the public has not been able to collect yarsagumba for a long time due to COVID-19 pandemic, this time it was opened for about a month. </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"">Residents of the buffer zone, within the district and outside the district will be charged different entrance fees for the collection of the prized herb as per the National Parks Act and regulations. –- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15054', 'image' => '20220522120955_yarsa.jpg', 'article_date' => '2022-05-22 12:07:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15311', 'article_category_id' => '1', 'title' => 'Lawmakers Demand more Budget for Health and Education', 'sub_title' => '', 'summary' => 'May 22: Lawmakers have pressed for ensuring programmes in the budget for the upcoming fiscal year that address their basic needs and are easily accessible to the people. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: Lawmakers have pressed for ensuring programmes in the budget for the upcoming fiscal year that address their basic needs and are easily accessible to the people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations on the principles and priorities of the Appropriation Bill for Fiscal Year 2022-23 on Friday, the MPs urged the government to take the existing economic crisis into consideration while announcing programmes in the new budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Dev Prasad Timilsina demanded easy access to medical care for people with chronic and complicated health issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Yagyaraj Sunuwar said that his party CPN (UML) was well aware of the economic condition of the nation and was serious about it. Therefore, the main opposition party decided to end the house obstruction, said Sunuwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Chhakka Bahadur Lama advised to give priorities to the agriculture sector as well as rural development and backward areas in the budget and to strengthen social justice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meena Subba was of the view that the country could become self-sufficient on food provided that the farmers were ensured seeds, fertilizers and other facilities on right time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She echoed the need of increasing budget in the sectors of health and education, urging the finance minister to address the suggestions of lawmakers in regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rangamati Shahi spoke the need of increasing investment in productive sector and claimed that genuine farmers were deprived of government subsidy. “So the budget should address this issue and lay its focus on job creation by implementing entrepreneurship programmes.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali Congress lawmaker Bharat Kumar Shah said the economy is not in bad shape and in crisis as it has been potrayed. He drew the attention of the government to take steps taking into account the sensitivity of the situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are in the danger zone due to high imports, but we are not in trouble yet," he remarked. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jayapuri Gharti of the CPN (Maoist Center) stressed on the need of prioritizing industries, tourism, agriculture, health and education sectors in the budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shekh Chandtara of the same party said the economy is facing crisis due to the wrong policy adopted by the past governments and it was wrong to squarely blame the incumbent finance minister for all this. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CPN (UML)'s Krishna Prasad Dahal said that the priorities and principles of the budget should be implementable, and more budget should be allocated to the local levels. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15053', 'image' => '20220522120116_budget new.jpg', 'article_date' => '2022-05-22 12:00:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15310', 'article_category_id' => '1', 'title' => 'India’s Ban on Wheat Export to Impact Nepali Industries after 3 Months', 'sub_title' => '', 'summary' => 'May 22: India's ban on wheat exports last week is going to affect the production of six flour mills and dozens of other wheat-based industries in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 22: India's ban on wheat exports last week is going to affect the production of six flour mills and dozens of other wheat-based industries in Nepal. The industrialists said that the problem will emerge in three months even though there is no problem at the moment as the local wheat produce hit the market just recently. They suggested that the government should import wheat from India through G2G agreement since the local production is not going to last long.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The industrialists expressed that the government should initiate discussions with the Indian government immediately to tackle the imminent crisis after three months. They also said that there is no other alternative than to shut down the industries as Nepal's production cannot sustain the industries if the import of wheat from India is also halted.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Bikash Begwani, vice-president of the Morang Merchants’ Association and operator of Bishal Maida Mill said that he has enough stock of wheat for one month. He said that even though the wheat produced in the country can sustain the industry for a few months, wheat from India is necessary to run the industry for the rest of the year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Begwani suggested that the government should negotiate with the Indian government and import wheat to Nepal as soon as possible. He added that the ban imposed by India on wheat export will cause a big impact on the flour mills and other industries including noodles and biscuits industries that rely heavily on wheat.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Begwani said that operating industries by importing flour from India will make the products 25 to 35 percent more expensive. “Consumers will be able to get the products at a lower price if wheat itself is imported through G2G process to operate the industries,” he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Department of Customs, Nepal imported about 336,000 metric tons of wheat worth Rs 6.90 billion from India last year. Ram Chandra Dhungana, information officer at the Biratnagar Customs Office, said that 6,800 metric tons of wheat worth Rs 2.20 billion was imported via Biratnagar last year. According to him, wheat has not been imported from Biratnagar after India announced the ban.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Harivansh Rathi, the operator of Gaumati Foods says that the Nepali industries are dependent on imported wheat from India for nine months while the local produce sustain the industries for three months. He said that if the government of Nepal fails to facilitate the import of wheat by discussing with the government of India, a huge shortage will be created. Recalling the time when India imposed a ban on wheat exports a few years ago, Rathi said, “India provided wheat to Nepal and other neighboring countries by implementing a quota system. Therefore, it is necessary to hold discussions with the Indian government immediately to prevent the shortage.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India is the world's second largest wheat producer after China. Wheat supply through the Black Sea is now halted due to tensions between Russia, the third largest producer of wheat, and Ukraine, the eighth largest producer. This time, India imposed a ban on exports, citing the decline of wheat production in India due to the scorching heat of March as well as the Russia-Ukraine war. However, Rathi said that Nepal's industries are confident of India adopting some lenient policies for neighboring countries. On the other hand, India itself has stated that exports to countries that need wheat for food security will not be halted.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Operator of Baba Flour Mill Suresh Rathi said that even if India bans wheat export, local production will last for a few months and there will be no immediate problem. He says the ban will impact in the long run. He said that the industry can be run by wheat imported from other countries after paying customs duty and taking advantage of the open border Nepal shares with India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15052', 'image' => '20220522114859_IMAGE_1646636720.jpg', 'article_date' => '2022-05-22 11:48:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15309', 'article_category_id' => '1', 'title' => 'Major Hospitals to Remain Open in KTM Valley on Sundays', 'sub_title' => '', 'summary' => 'May 22: Most of the major hospitals in the Kathmandu Valley will be operational on Sundays despite the government's decision to grant public holiday for two days a week. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 22: Most of the major hospitals in the Kathmandu Valley will be operational on Sundays despite the government's decision to grant public holiday for two days a week. The hospitals decided to operate on Sunday as well, stating that the patients will have to suffer in absence of treatment if they are closed for two consecutive days. The government decided to give leave on Saturday and Sunday, starting from May 15 in a trial phase with the objective of reducing fuel consumption. The government has fixed office hours on weekdays from Monday through Friday between 9:30 am to 5:30 pm.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The major hospitals in the valley including Tribhuvan University Teaching Hospital, Civil Service Hospital, Kanti Children's Hospital, Sukraraj Tropical and Communicable Diseases Hospital, Shahid Ganga Lal Heart Center, Paropakar Maternity Hospital have decided to operate on Sundays as well. However, Bir Hospital will be closed on Sunday, as per the government's decision to grant two days leave.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dr Bhupendra Basnet, director of Bir Hospital, said that the hospital will be closed on Sunday as per the decision of the government. Basnet said, “We are operating the hospital as per the decision of the government. The emergency services of the hospital are operating 24 hours a day. We decided to close the hospital on Sunday as not many critical patients visit the outpatient department.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the director of Ganga Lal Heart Center, Dr Chandramani Adhikari said, as the center is an independent health institution, it will remain open on Sunday as well, considering the treatment of the patients, regardless of the government's decision. About 600 patients visit the center daily for treatment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The director of Sukraraj Tropical and Communicable Diseases Hospital, Dr Manisha Thapa said that all services including outpatient services will be operated regularly even on public holidays. Ram Bikram Adhikari, information officer of Tribhuvan University Teaching Hospital, informed that the hospital will continue to operate as before.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15051', 'image' => '20220522114737_Hospital.jpg', 'article_date' => '2022-05-22 11:46:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15307', 'article_category_id' => '1', 'title' => 'Government has 21,000 Quintals of Flour in Stock', 'sub_title' => '', 'summary' => 'May 20: The state-owned Salt Trading Corporation, which is responsible for buying and selling food and fertilizer at subsidized rate, has 21,000 quintals of flour in stock. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: The state-owned Salt Trading Corporation, which is responsible for buying and selling food and fertilizer at subsidized rate, has 21,000 quintals of flour in stock. Hetauda-based Nepal Food Industries Limited, a subsidiary of Salt Trading Corporation, has produced 75,000 quintals of flour in the current fiscal year. Of this, 54,000 quintals have been sold and 21,000 quintals are left, informed the Salt Trading Corporation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The stock of Salt Trading Corporation will not last for even a day if it is sold as per the market demand. However, the spokesperson of Salt Trading Corporation, Kumar Rajbhandari said that the flour is being sold in retail just to keep the uncontrolled price hike in in the market in check. Traders, however, claim that there is no shortage of flour and other commodities in the market even though the government does not have enough stock.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Pabitra Bajracharya, the outgoing president of the Retail Trade Association, remarked that if the current situation continues for a long time, the prices of biscuits, noodles, pasta and other commodities are likely to be affected. According to him, there is no probability of immediate price hike as retailers and wholesalers have stocks of old goods that can last for up to 2/3 months.</span></span></span></span></p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15049', 'image' => '20220520055604_Flour_AdobeStock_169806265_E.jpg', 'article_date' => '2022-05-20 17:55:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15306', 'article_category_id' => '1', 'title' => 'Price of Wheat Skyrocketing in International Market', 'sub_title' => '', 'summary' => 'May 20: As soon as the Indian government imposed a ban on the exports of wheat, its price skyrocketed in the international market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: As soon as the Indian government imposed a ban on the exports of wheat, its price skyrocketed in the international market. Ironically, Nepali farmers were forced to sell wheat at cheaper rates when the price has been soaring worldwide. Due to the government's failure to announce support price at the right time and traders arbitrarily fixing the price for the farmers' produce, Nepali farmers were obliged to sell wheat at cheap prices even when prices were skyrocketing in the international market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India banned export of wheat last Friday. According to international media, the price of wheat went through the roof in the world market, marking an increase of 60 percent this year alone. According to the traders, the price of wheat flour even in India went up from Rs 2880 to Rs 3300 per quintal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">No matter how much the price goes up in the world market, Nepali farmers are still devoid from any benefits. Before the government fixed the support price, farmers in some districts of the Terai had already sold wheat at Rs 400 per quintal, which is lesser than the minimum support price set by the government. The government later fixed the support price of wheat at Rs 3,165 per quintal after much delay. However, farmers are not even able to get this price. Till date, farmers of Sunsari, Siraha, Rautahat and other districts are selling wheat at the rate of Rs 2,800 per quintal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhubaneswar Yadav, a representative farmer from Sunsari said, “The government does not buy wheat from these districts. Wheat that we sold to traders at Rs 2,800 is now being sold by traders at Rs 3,600 per quintal. Flour industrialists do not buy wheat directly from us, that is why we are forced to sit idly and watch all the profits reaped by the middlemen.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Farmers of Banke, Bardiya and Kailali have already sold wheat to traders at the rate of Rs 2,800 per quintal. After the farmers sold their produce, the Food Management and Trading Company of the government started buying wheat in those districts. Food procurement centers are deserted as farmers have already sold wheat. Sharmila Subedi, information officer of the state-owned company said that 112 quintals of wheat was purchased in Rajapur of Bardiya, besides which, other procurement centers could not buy wheat at all.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another farmer Chandra Kant Yadav from Lahan said that he sold 25 quintals of wheat to local traders at the rate of Rs 2,800 per quintal. He expressed, “It is said that the prices have gone up now. We could not even sell at the rate fixed by the government. The Food Management and Trading Company started buying wheat only after we sold it. Now, it is the traders who make profit.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the stakeholders, farmers not getting a fair price for their produce has become a persistent problem. Chairman of the National Farmers' Commission, Dr. Prem Prasad Dangal, says that although the government implemented the concept of support price to prevent farmers from being cheated by traders, the government's weakness itself has posed a challenge to its implementation. “It is a shame that Nepali farmers have to sell their produce at lower rates when prices are rising in the international market,” said Dangal. </span></span></span></span></p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15048', 'image' => '20220520051031_Wheat_photo-cred-Adobe-stock_E-2.jpg', 'article_date' => '2022-05-20 17:09:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15305', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs of Chitwan Excited about the Prospects of 2 Days' Leave', 'sub_title' => '', 'summary' => 'May 20: Tourism entrepreneurs of Chitwan are excited after the government announced a public holiday on Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: Tourism entrepreneurs of Chitwan are excited after the government announced a public holiday on Sunday. Entrepreneurs are expecting that the number of domestic tourists will increase during the two consecutive days off.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The tourism entrepreneurs hope that the tourism sector, which has been weighed down by the Covid-19 infection, will return to normalcy. They had been demanding leave on Sunday after the number of tourists coming for one night's stay started increasing.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Local tourism entrepreneur Biplav Poudel said that they had been demanding two days' leave for better prospects of business.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Poudel, the manager of Hotel Barahi in Meghauli and Pokhara, said that the number of tourists will now increase in homestays as well as big hotels. "This will make the economy vibrant, '' he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Poudel believes that two days of holidays and fun would energize the workers for the rest of the week days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Deepak Bhattarai, president of the Regional Hotel Association Chitwan, said that the number of tourists used to increase by 50 % compared to other days in the past when there was a regular two-day holiday. "Compared to other days, the number of tourists increases on holidays. At the same time, when there are two days of holidays, the number of tourists is even more,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai said that he expects the tourism sector to be better than before with the two-day holiday. He informed New Business Age that there are positive signs soon after the leave started. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs expect this holiday to increase family travel. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gunaraj Thapaliya, general secretary of the regional hotel association, said that the number of people booking hotels through the telephone has started to increase. Situated in the centre of the country, it is easy to visit Sauraha from many neighbouring districts to spend a night in the wilderness.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the decline in the number of foreign tourists, the tourism sector here has been dependent on domestic tourists. Tourists mainly visit Pokhara, Lumbini, Chitwan, Kathmandu and other areas in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Director of Hotel Narayani Resort, Gaindakot, Basanta Parajuli said that the two-day leave will have a positive impact on the tourism sector. The trend of travelling with family increases during the holidays, he added. </span></span></span></span></p> <p><br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15047', 'image' => '20220520024257_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2022-05-20 14:42:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15304', 'article_category_id' => '1', 'title' => 'Finance Minister Absent during Pre-Budget Discussions ', 'sub_title' => '', 'summary' => 'May 20: With only nine days left for the budget announcement, discussions are underway in the parliament on the priorities and principles of the Appropriation Bill.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 20: With only nine days left for the budget announcement, discussions are underway in the parliament on the priorities and principles of the Appropriation Bill. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the absence of Finance Minister Janardan Sharma during the discussion has raised concerns that the suggestions made by the people’s representatives for the upcoming budget will be limited to the parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The members of parliament questioned the rationale behind the absence of the finance minister during the pre-budget discussion on Thursday. Terming the absence of the finance minister in the parliament as irresponsible, they drew the attention of the speaker. After the objection of the MPs, speaker Agni Prasad Sapkota directed the finance minister to attend the meeting. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma hadn’t stayed till the end during Wednesday’s meeting as well. Maoist MP Gajendra Bahadur Mahat, who was the last speaker on Wednesday, had queried about the finance minister after not seeing him in parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He was not present during the discussion on Thursday also. Chief Whip of the CPN-UML, Bishal Bhattarai said that the finance minister himself started the discussion on the principles and priorities of the budget but was not present during the discussion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that his attention had been drawn to this issue, Speaker Agni Prasad Sapkota said, “As per sub-section 5 of section 6 of the Rules of Procedure of the House of Representatives 2075, I instruct the Honorable Minister of the concerned ministry to attend the meeting.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepali Congress MP and former Minister Dr Minendra Rijal said that it was disappointing that the finance minister and the officials were not present while the principles and priorities of the budget were being discussed in the parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dr Rijal commented that the structural problems in the economy have contributed to the non-spending of the capital budget. Keeping in view the priorities and principles of the Appropriation Bill, he said that the stakeholders, MPs, Ministry of Finance and others should make meaningful efforts to end the trend of non-spending of capital budget. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rijal said that food production should be increased within the country to reduce the pressure on the balance of payments, and clear policy arrangements should be made for the promotion of industries and businesses in public-private partnership. Furthermore, he said that the problems in the economy were not only due to the current government alone and urged not to forget the fact that foreign debt had increased due to the decisions taken by the then UML-led government. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15046', 'image' => '20220520010402_fin min sharma.jpg', 'article_date' => '2022-05-20 13:03:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15303', 'article_category_id' => '1', 'title' => 'Labour Permit Service goes Full-Scale Online from Today ', 'sub_title' => '', 'summary' => 'May 20: The Foreign Employment Office, Kathmandu has informed that it will launch online service for all kinds of labour permits from today (May 20).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 20: The Foreign Employment Office, Kathmandu has informed that it will launch online service for all kinds of labour permits from today (May 20). Now, anyone going abroad for foreign employment can take the labour permit through online system, the state-owned national news agency RSS reported. This will effectively end the need to physically visit the office to take labour permits. </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"">From now on, the new system will be applicable for both individual and institutional labour permits as well as renewal of labour permits. The Foreign Employment Office had started issuing institutional labour permits through online system almost a month ago. Similarly, renewal of labour permit through online system was initiated in January. </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 recent change in service delivery has largely reduced the number of service seekers who used to be present in large numbers at the office until some time ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office chief Ramesh Aryal informed that the labour permit service has gone online as per directive of the Labour Ministry. Such decision was taken to facilitate both the service seekers and the service providers, said Aryal.</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 RSS, a total of 167,000 persons were provided labour permit during last fiscal year while more than half a million people have been granted labour permit in the first 10 months of the current fiscal year. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15045', 'image' => '20220520082126_20211215023334_20200315123851_1111.jpg', 'article_date' => '2022-05-20 08:20:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15302', 'article_category_id' => '1', 'title' => 'Budget Always has the Same Principles and Priorities', 'sub_title' => '', 'summary' => 'May 19: Finance Minister Janardan Sharma on Tuesday presented the principles and priorities of the Appropriation Bill for the budget of the upcoming fiscal year in the federal parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 19: Finance Minister Janardan Sharma on Tuesday presented the principles and priorities of the Appropriation Bill for the budget of the upcoming fiscal year in the federal parliament. The principles and priorities that the government presents in parliament ahead of the budget as per the constitutional provision is always the same in nature every year. It is almost impossible to find something innovative and new in the principles and priorities for the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Appropriation Bill, 2079 BS is aimed at building a socialism-oriented, balanced, inclusive and self-reliant economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The budget for the upcoming fiscal year will focus on fulfilling the aspirations of the Nepali people for development and prosperity and laying the groundwork for a socialism-oriented economy. The flow of public services, transformation and construction of large infrastructure and government investment in the social sector will be increased,” reads the draft.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The budget proposal placed forth three years back by the then Finance Minister Yuba Raj Khatiwada under the government led by KP Sharma Oli also mentioned the same thing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It stated, “The results of the momentous political change we have achieved are being reflected in the social transformation and economic development and the living standards of the people. The achievements we have achieved in a short period of time in the implementation of federalism have laid a solid foundation for good governance, development and prosperity. The budget for the coming fiscal year will be focused on moving forward as a socialism-oriented nation with social justice and high economic growth based on this foundation.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Analyzing the documents presented in parliament in the last few years, it is evident that the principles and priorities of the government is always the same despite change in government. However, those who run the state are yet to clarify how they will create a socialism-oriented economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The priorities of the government for the budget of the upcoming fiscal year once again include development of agriculture sector, industrial development and promotion, development of energy sector, etc. These sated priorities are not new at all.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khatiwada's budget, which he presented in parliament three years ago, also had similar priorities. It read, “Significant advances will be made in formulating investment-friendly laws and structures, accelerating the upliftment of the poor, backward classes, regions and communities, increasing employment opportunities, social security for all, access to basic education and access to primary health care for all.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economist Keshav Acharya stated that usage of such repeated notions make it clear that the government makes such issues as a priority just for the sake of making announcements every year but fails to implement them each time. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the government should not talk only about principles and priorities in the budget, but also state clearly on how they can be implemented. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The budget prioritizes health, education, employment, infrastructure, from a socialist-oriented economy. The state does not seem to be serious about how to achieve the goals set in those areas,” Acharya said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Even the leaders of the ruling parties are not satisfied with the priorities and principles of the budget presented by the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Prime Minister Baburam Bhattarai, leader and a member of the ruling coalition partner – Janata Samajwadi Party – remarked that the priorities and principles should not just be written on papers. According to him, the state should now be responsible for education, health, social security and large infrastructure, while the responsibilities for agriculture, industry, services and tourism should be given to the private sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN-UML leader Yogesh Bhattarai remarked that the principles and priorities of the Appropriation Bill lacked a base for advancing towards the path of socialism and neglected the aspects relating to strengthening public health and education. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He sought the government’s attention towards an increment of capital expenditure by minimizing a trade deficit. He was of the view of preventing a probable difficult situation for nation’s economy. He added that the bill did not seem giving priorities to the reduction of consumption of petroleum products and the promotion of the use of alternative energy. “Non-economic activities have increased, posing an additional challenge to the national economy.’’ </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15044', 'image' => '20220519054048_budget new.jpg', 'article_date' => '2022-05-19 17:39:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15299', 'article_category_id' => '1', 'title' => 'Share Transaction of 14 Companies on Hold due to Merger', 'sub_title' => '', 'summary' => 'May 19: Share trading of 14 companies has been halted due to the process of merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 19: Share trading of 14 companies has been halted due to the process of merger and acquisition. According to the Nepal Stock Exchange (NEPSE), the trading of shares of three commercial banks, five insurance companies, six microfinance companies, and two hydropower companies has been halted for the purpose of merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The three commercial banks are Nepal Investment Bank, Himalayan Bank and Nepal Bangladesh Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of Nepal Investment Bank and Himalayan Bank has been suspended since 31st April 2021 because of the merger process. Although the merger between the two banks has broken down, the share trading is still suspended.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">NEPSE has stated that the share transaction has not be opened despite the breakdown of the merger between the two banks as they have not submitted written request in this regard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of Nepal Bangladesh Bank, which is being acquired by Nabil Bank, has also been suspended since December 12, 2021.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At this time, banks and financial institutions, insurance companies and the hydropower sector are going through mergers and acquisitions. Recently, five insurance companies have signed merger agreements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Everest Insurance and Himalayan General Insurance have agreed to merge in order to increase their paid-up capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of the two companies, which entered into a preliminary merger agreement on April 7, has been suspended since April 8. The largest merger agreement in the insurance sector has been reached between Union Life Insurance, Gurans Life Insurance and Prime Life Insurance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of the three companies, which had signed a preliminary agreement on the merger on April 13, has been suspended since May 12 due to four consecutive days of public holiday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from this, share trading of Nadep Microfinance, Andhikhola Microfinance, Ghodighoda Microfinance and Samaj Microfinance has also been blocked on the pretext of merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Investors have complained that mergers and acquisitions have hampered trading for a long time. Even after months of exiting the merger and acquisition process, the general investors’ assets seem to have been jeopardized by not opening the transaction.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ambika Prasad Poudel, president of the Federation of Nepalese Chambers of Commerce and Industry, Capital Market Forum, said that the investors who have always been supporting the merger and acquisition process have been hit the hardest at this time.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15041', 'image' => '20220519031228_Mergers-and-Acquisitions-Vietnam.jpg', 'article_date' => '2022-05-19 15:11:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15298', 'article_category_id' => '1', 'title' => 'Credit Flow and Deposit Collection of Banks Declining ', 'sub_title' => '', 'summary' => 'May 19: Credit flow and deposit collection of banks have been steadily declining. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 19: Credit flow and deposit collection of banks have been steadily declining. Banks have started reducing the credit flow as deposit collection in banks have not been able to rise amid the current liquidity crisis. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Bankers’ Association, Rs 19 billion was withdrawn from commercial banks between mid-April and mid-May. The total deposits of commercial banks which stood at Rs 4.38 trillion by mid-April, has come down to Rs 4.37 as of mid-May. The association said that although there has been a slight improvement in deposits in late April, there has been a steady decline in deposits after that. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Local elections is believed to be the main reason for the decline in deposit collection of banks. Chairman of the Nepal Bankers' Association and Chief Executive Officer of the Agricultural Development Bank Anil Kumar Upadhyaya said that the money withdrawn from the banking system during the election will be returned to the system gradually. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Along with the deposit collection, the credit flow of the banks have also declined. The credit flow of the banks, which was Rs 4.197 trillion in mid-April, has dropped by Rs 6 billion to Rs Rs 4.191 trillion in mid-May. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The credit flow of the banks are stagnant at the moment as the credit-deposit (CD) ratio is high due to the liquidity crisis. Banks have disbursed only small loans that were already approved. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank has directed banks to maintain the CD ratio of 90 percent by mid-July. However, according to the data of the association, the CD ratio of only nine banks was within the prescribed ratio by the central bank. Besides, the CD ratio of more than a dozen banks is more than 91 percent and half a dozen banks is around 90 percent. The banks have started reducing credit flow to maintain the CD ratio. As per the NRB, the average CD ratio of banks till May 16 is 90.44 percent. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15040', 'image' => '20220519011625_Banks - Copy.jpg', 'article_date' => '2022-05-19 13:15:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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' => '15316', 'article_category_id' => '1', 'title' => 'Windstorm Damages 140 Electricity Poles in Bharatpur', 'sub_title' => '', 'summary' => 'May 23: A total of 140 electricity poles collapsed in Bharatpur collapsed due to the windstorm on Friday evening, resulting in electricity power outage.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 23: A total of 140 electricity poles collapsed in Bharatpur collapsed due to the windstorm on Friday evening, resulting in electricity power outage. According to Rajendra Poudel, an engineer at the Nepal Electricity Authority's Bharatpur Distribution Center, the poles collapsed in wards number 1 to 6 of the Bharatpur metropolitan city. He said that it will take five days for the management of poles before they can ensure smooth supply of electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Rajiv Kumar Singh, head of the center, the power supply from Bharatpur substation has been disrupted. According to him, the cables at multiple places snapped due to collapsing of poles in Bharatpur due to strong winds. He also informed that the NEA mobilized a team of four contractors and the entire technical force of NEA to repair the collapsed poles and cables. Singh said that the power supply is being restored by prioritizing critical sectors including hospitals and security agencies, polling stations and drinking water utility.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Engineer Poudel said that there were no issues with the distribution of electricity from Chanauli substation. He said that although there is no problem in the flow of electricity in the western region of Bharatpur, problems have surfaced in the flow of electricity to the district headquarters Bharatpur, Narayangarh market area and Ratnanagar Khairhani of East Chitwan. He informed that materials worth Rs 3 million were damaged and electricity consumption of Rs 50 million was disrupted due to the impact of the windstorm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mobile phone service along with drinking water and internet services have also been affected due to prolonged power outage. Three people were killed and 11 others were injured in the storm on Friday. Many trees in the main urban area of Bharatpur were hit by the storm, causing them to collapse. In most places, the collapsing of trees caused the electricity poles to collapse as well.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-23', 'modified' => '2022-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '15058', 'image' => '20220523025725_Thuderstorm.jpg', 'article_date' => '2022-05-23 13:23:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15315', 'article_category_id' => '1', 'title' => 'Draupadi Dream Trust honours Shreejana Rana with Draupadi Award 2022 ', 'sub_title' => '', 'summary' => 'May 23: Draupadi Dream Trust of India has honoured Shreejana Rana, president of Nepal-India Chamber of Commerce and Industry as well as the Hotel Association of Nepal, with Draupadi Letter of Appreciation 2022 in New Delhi amid a recent function. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 23: Draupadi Dream Trust of India has honoured Shreejana Rana, president of Nepal-India Chamber of Commerce and Industry as well as the Hotel Association of Nepal, with Draupadi Letter of Appreciation 2022 in New Delhi amid a recent function. Rana was honoured for her contribution to Nepal-India bilateral relations through the development and promotion of religious/spiritual tourism in both the countries as the president of Nepal-India Chamber of Commerce.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Draupadi Dream Trust is an institution working on the area of ancient eastern civilization, art, culture, religion and history and publication of such related issues for a long time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rana was honoured for her initiation and contribution to publishing a book and dedicated website on Nepal-India religious/spiritual circuits which covers Buddhist circuits, Mahabharat circuits Ramayan circuit, Shiva-Shakti circuit and Sikh circuit aiming to promote pilgrimage tourism in both the countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rana was honoured amid a special programme in New Delhi and was conferred the letter of appreciation by Ajit Doval, chief security advisor to the Indian Government, on 20th May 2022. The trust honoured various other Indian dignitaries from different walks of life, while Rana was the only Nepali to bag such honour.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal-India Chamber of Commerce and Industry said in a statement that it feels proud at this moment and encourages to work sincerely in the area of Nepal-India economic and bilateral relations in the coming days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepalese Ambassador to India Dr Shankar Sharma was also present on the occasion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-23', 'modified' => '2022-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '15057', 'image' => '20220523120702_IMG-20220521-WA0028.jpg', 'article_date' => '2022-05-23 12:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15313', 'article_category_id' => '1', 'title' => 'NCC urges Bangladesh for Energy Cooperation ', 'sub_title' => '', 'summary' => 'May 22: Nepal Chamber of Commerce (NCC) has proposed to Bangladesh to cooperate in the energy sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 22: Nepal Chamber of Commerce (NCC) has proposed to Bangladesh to cooperate in the energy sector. The NCC has requested for electricity trade with Bangladesh as Nepal will soon be exporting electricity. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at a programme organized at the Bangladesh Embassy in Kathmandu on Friday on the occasion of the 50th anniversary of the establishment of diplomatic relations between Nepal and Bangladesh, Chairman of NCC Rajendra Malla stressed on the implementation of the tripartite agreement on electricity trade between Nepal, India and Bangladesh. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Nepal, India and Bangladesh have reached a tripartite agreement for energy trade. There should be an immediate result-oriented meeting between the energy ministers of the three countries for its effective implementation,” he said in a discussion with the Bangladesh’s ambassador to Nepal, Salahuddin Noman Chowdhury.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> We’ll take the initiative representing the private sector. The government of Bangladesh should also take initiative. Nepal is preparing to sell electricity to Bangladesh,” added Malla. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Malla said that Nepal will be able to export electricity in at least one year from now. According to him, at least 50 megawatts of electricity can be generated for export to India from the existing transmission line and the three countries will have to do their homework for the terms and conditions for electricity trade. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the context of the high demand for energy in Bangladesh, there was a discussion between the two countries on various options for exporting electricity from Nepal. Despite the agreement on the energy trade between Nepal, Bangladesh and India, it has not been implemented in practice. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Malla urged Bangladesh’s ambassador to Nepal to invest in the hydropower sector of Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ambassador Chowdhury said that Bangladesh is ready to buy the electricity produced by Nepal. “Within next few years, Bangladesh will promote green energy,” he said, “Accordingly, our priorities and plans are being made. We are excited to buy electricity from Nepal.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He further said that he would take the initiative to urge the the Government of Bangladesh to start the necessary process to purchase electricity from Nepal through India. Likewise, he said that they are expecting policy improvement for the investment in other sectors as well. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15055', 'image' => '20220522073826_02062016090632Nepal-Bdesh-copy.jpg', 'article_date' => '2022-05-22 19:37:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15312', 'article_category_id' => '1', 'title' => 'Yarsagumba Collection to Start in Dolpa from May 25 ', 'sub_title' => '', 'summary' => 'May 22: Collection of the yarsagumba, an aphrodisiac herb found in the Himalayan region, will be opened for public in Dolpa district from May 25.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: Collection of the yarsagumba, an aphrodisiac herb found in the Himalayan region, will be opened for public in Dolpa district from May 25. An all-party meeting convened by the District Coordination Committee, Dolpa took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting chaired by DCC Chief Sher Bahadur Budha at the district headquarters Dunai on Saturday was attended by the chief representatives of various district bodies. It has decided to allow collection of yarsagumba, which is scientifically known as ophiocordyceps sinensis, in Shephoksundo National Park and various community forests until June 24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the public has not been able to collect yarsagumba for a long time due to COVID-19 pandemic, this time it was opened for about a month. </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"">Residents of the buffer zone, within the district and outside the district will be charged different entrance fees for the collection of the prized herb as per the National Parks Act and regulations. –- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15054', 'image' => '20220522120955_yarsa.jpg', 'article_date' => '2022-05-22 12:07:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15311', 'article_category_id' => '1', 'title' => 'Lawmakers Demand more Budget for Health and Education', 'sub_title' => '', 'summary' => 'May 22: Lawmakers have pressed for ensuring programmes in the budget for the upcoming fiscal year that address their basic needs and are easily accessible to the people. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: Lawmakers have pressed for ensuring programmes in the budget for the upcoming fiscal year that address their basic needs and are easily accessible to the people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations on the principles and priorities of the Appropriation Bill for Fiscal Year 2022-23 on Friday, the MPs urged the government to take the existing economic crisis into consideration while announcing programmes in the new budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Dev Prasad Timilsina demanded easy access to medical care for people with chronic and complicated health issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Yagyaraj Sunuwar said that his party CPN (UML) was well aware of the economic condition of the nation and was serious about it. Therefore, the main opposition party decided to end the house obstruction, said Sunuwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Chhakka Bahadur Lama advised to give priorities to the agriculture sector as well as rural development and backward areas in the budget and to strengthen social justice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meena Subba was of the view that the country could become self-sufficient on food provided that the farmers were ensured seeds, fertilizers and other facilities on right time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She echoed the need of increasing budget in the sectors of health and education, urging the finance minister to address the suggestions of lawmakers in regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rangamati Shahi spoke the need of increasing investment in productive sector and claimed that genuine farmers were deprived of government subsidy. “So the budget should address this issue and lay its focus on job creation by implementing entrepreneurship programmes.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali Congress lawmaker Bharat Kumar Shah said the economy is not in bad shape and in crisis as it has been potrayed. He drew the attention of the government to take steps taking into account the sensitivity of the situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are in the danger zone due to high imports, but we are not in trouble yet," he remarked. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jayapuri Gharti of the CPN (Maoist Center) stressed on the need of prioritizing industries, tourism, agriculture, health and education sectors in the budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shekh Chandtara of the same party said the economy is facing crisis due to the wrong policy adopted by the past governments and it was wrong to squarely blame the incumbent finance minister for all this. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CPN (UML)'s Krishna Prasad Dahal said that the priorities and principles of the budget should be implementable, and more budget should be allocated to the local levels. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15053', 'image' => '20220522120116_budget new.jpg', 'article_date' => '2022-05-22 12:00:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15310', 'article_category_id' => '1', 'title' => 'India’s Ban on Wheat Export to Impact Nepali Industries after 3 Months', 'sub_title' => '', 'summary' => 'May 22: India's ban on wheat exports last week is going to affect the production of six flour mills and dozens of other wheat-based industries in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 22: India's ban on wheat exports last week is going to affect the production of six flour mills and dozens of other wheat-based industries in Nepal. The industrialists said that the problem will emerge in three months even though there is no problem at the moment as the local wheat produce hit the market just recently. They suggested that the government should import wheat from India through G2G agreement since the local production is not going to last long.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The industrialists expressed that the government should initiate discussions with the Indian government immediately to tackle the imminent crisis after three months. They also said that there is no other alternative than to shut down the industries as Nepal's production cannot sustain the industries if the import of wheat from India is also halted.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Bikash Begwani, vice-president of the Morang Merchants’ Association and operator of Bishal Maida Mill said that he has enough stock of wheat for one month. He said that even though the wheat produced in the country can sustain the industry for a few months, wheat from India is necessary to run the industry for the rest of the year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Begwani suggested that the government should negotiate with the Indian government and import wheat to Nepal as soon as possible. He added that the ban imposed by India on wheat export will cause a big impact on the flour mills and other industries including noodles and biscuits industries that rely heavily on wheat.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Begwani said that operating industries by importing flour from India will make the products 25 to 35 percent more expensive. “Consumers will be able to get the products at a lower price if wheat itself is imported through G2G process to operate the industries,” he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Department of Customs, Nepal imported about 336,000 metric tons of wheat worth Rs 6.90 billion from India last year. Ram Chandra Dhungana, information officer at the Biratnagar Customs Office, said that 6,800 metric tons of wheat worth Rs 2.20 billion was imported via Biratnagar last year. According to him, wheat has not been imported from Biratnagar after India announced the ban.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Harivansh Rathi, the operator of Gaumati Foods says that the Nepali industries are dependent on imported wheat from India for nine months while the local produce sustain the industries for three months. He said that if the government of Nepal fails to facilitate the import of wheat by discussing with the government of India, a huge shortage will be created. Recalling the time when India imposed a ban on wheat exports a few years ago, Rathi said, “India provided wheat to Nepal and other neighboring countries by implementing a quota system. Therefore, it is necessary to hold discussions with the Indian government immediately to prevent the shortage.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India is the world's second largest wheat producer after China. Wheat supply through the Black Sea is now halted due to tensions between Russia, the third largest producer of wheat, and Ukraine, the eighth largest producer. This time, India imposed a ban on exports, citing the decline of wheat production in India due to the scorching heat of March as well as the Russia-Ukraine war. However, Rathi said that Nepal's industries are confident of India adopting some lenient policies for neighboring countries. On the other hand, India itself has stated that exports to countries that need wheat for food security will not be halted.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Operator of Baba Flour Mill Suresh Rathi said that even if India bans wheat export, local production will last for a few months and there will be no immediate problem. He says the ban will impact in the long run. He said that the industry can be run by wheat imported from other countries after paying customs duty and taking advantage of the open border Nepal shares with India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15052', 'image' => '20220522114859_IMAGE_1646636720.jpg', 'article_date' => '2022-05-22 11:48:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15309', 'article_category_id' => '1', 'title' => 'Major Hospitals to Remain Open in KTM Valley on Sundays', 'sub_title' => '', 'summary' => 'May 22: Most of the major hospitals in the Kathmandu Valley will be operational on Sundays despite the government's decision to grant public holiday for two days a week. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 22: Most of the major hospitals in the Kathmandu Valley will be operational on Sundays despite the government's decision to grant public holiday for two days a week. The hospitals decided to operate on Sunday as well, stating that the patients will have to suffer in absence of treatment if they are closed for two consecutive days. The government decided to give leave on Saturday and Sunday, starting from May 15 in a trial phase with the objective of reducing fuel consumption. The government has fixed office hours on weekdays from Monday through Friday between 9:30 am to 5:30 pm.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The major hospitals in the valley including Tribhuvan University Teaching Hospital, Civil Service Hospital, Kanti Children's Hospital, Sukraraj Tropical and Communicable Diseases Hospital, Shahid Ganga Lal Heart Center, Paropakar Maternity Hospital have decided to operate on Sundays as well. However, Bir Hospital will be closed on Sunday, as per the government's decision to grant two days leave.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dr Bhupendra Basnet, director of Bir Hospital, said that the hospital will be closed on Sunday as per the decision of the government. Basnet said, “We are operating the hospital as per the decision of the government. The emergency services of the hospital are operating 24 hours a day. We decided to close the hospital on Sunday as not many critical patients visit the outpatient department.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the director of Ganga Lal Heart Center, Dr Chandramani Adhikari said, as the center is an independent health institution, it will remain open on Sunday as well, considering the treatment of the patients, regardless of the government's decision. About 600 patients visit the center daily for treatment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The director of Sukraraj Tropical and Communicable Diseases Hospital, Dr Manisha Thapa said that all services including outpatient services will be operated regularly even on public holidays. Ram Bikram Adhikari, information officer of Tribhuvan University Teaching Hospital, informed that the hospital will continue to operate as before.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15051', 'image' => '20220522114737_Hospital.jpg', 'article_date' => '2022-05-22 11:46:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15307', 'article_category_id' => '1', 'title' => 'Government has 21,000 Quintals of Flour in Stock', 'sub_title' => '', 'summary' => 'May 20: The state-owned Salt Trading Corporation, which is responsible for buying and selling food and fertilizer at subsidized rate, has 21,000 quintals of flour in stock. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: The state-owned Salt Trading Corporation, which is responsible for buying and selling food and fertilizer at subsidized rate, has 21,000 quintals of flour in stock. Hetauda-based Nepal Food Industries Limited, a subsidiary of Salt Trading Corporation, has produced 75,000 quintals of flour in the current fiscal year. Of this, 54,000 quintals have been sold and 21,000 quintals are left, informed the Salt Trading Corporation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The stock of Salt Trading Corporation will not last for even a day if it is sold as per the market demand. However, the spokesperson of Salt Trading Corporation, Kumar Rajbhandari said that the flour is being sold in retail just to keep the uncontrolled price hike in in the market in check. Traders, however, claim that there is no shortage of flour and other commodities in the market even though the government does not have enough stock.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Pabitra Bajracharya, the outgoing president of the Retail Trade Association, remarked that if the current situation continues for a long time, the prices of biscuits, noodles, pasta and other commodities are likely to be affected. According to him, there is no probability of immediate price hike as retailers and wholesalers have stocks of old goods that can last for up to 2/3 months.</span></span></span></span></p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15049', 'image' => '20220520055604_Flour_AdobeStock_169806265_E.jpg', 'article_date' => '2022-05-20 17:55:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15306', 'article_category_id' => '1', 'title' => 'Price of Wheat Skyrocketing in International Market', 'sub_title' => '', 'summary' => 'May 20: As soon as the Indian government imposed a ban on the exports of wheat, its price skyrocketed in the international market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: As soon as the Indian government imposed a ban on the exports of wheat, its price skyrocketed in the international market. Ironically, Nepali farmers were forced to sell wheat at cheaper rates when the price has been soaring worldwide. Due to the government's failure to announce support price at the right time and traders arbitrarily fixing the price for the farmers' produce, Nepali farmers were obliged to sell wheat at cheap prices even when prices were skyrocketing in the international market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India banned export of wheat last Friday. According to international media, the price of wheat went through the roof in the world market, marking an increase of 60 percent this year alone. According to the traders, the price of wheat flour even in India went up from Rs 2880 to Rs 3300 per quintal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">No matter how much the price goes up in the world market, Nepali farmers are still devoid from any benefits. Before the government fixed the support price, farmers in some districts of the Terai had already sold wheat at Rs 400 per quintal, which is lesser than the minimum support price set by the government. The government later fixed the support price of wheat at Rs 3,165 per quintal after much delay. However, farmers are not even able to get this price. Till date, farmers of Sunsari, Siraha, Rautahat and other districts are selling wheat at the rate of Rs 2,800 per quintal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhubaneswar Yadav, a representative farmer from Sunsari said, “The government does not buy wheat from these districts. Wheat that we sold to traders at Rs 2,800 is now being sold by traders at Rs 3,600 per quintal. Flour industrialists do not buy wheat directly from us, that is why we are forced to sit idly and watch all the profits reaped by the middlemen.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Farmers of Banke, Bardiya and Kailali have already sold wheat to traders at the rate of Rs 2,800 per quintal. After the farmers sold their produce, the Food Management and Trading Company of the government started buying wheat in those districts. Food procurement centers are deserted as farmers have already sold wheat. Sharmila Subedi, information officer of the state-owned company said that 112 quintals of wheat was purchased in Rajapur of Bardiya, besides which, other procurement centers could not buy wheat at all.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another farmer Chandra Kant Yadav from Lahan said that he sold 25 quintals of wheat to local traders at the rate of Rs 2,800 per quintal. He expressed, “It is said that the prices have gone up now. We could not even sell at the rate fixed by the government. The Food Management and Trading Company started buying wheat only after we sold it. Now, it is the traders who make profit.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the stakeholders, farmers not getting a fair price for their produce has become a persistent problem. Chairman of the National Farmers' Commission, Dr. Prem Prasad Dangal, says that although the government implemented the concept of support price to prevent farmers from being cheated by traders, the government's weakness itself has posed a challenge to its implementation. “It is a shame that Nepali farmers have to sell their produce at lower rates when prices are rising in the international market,” said Dangal. </span></span></span></span></p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15048', 'image' => '20220520051031_Wheat_photo-cred-Adobe-stock_E-2.jpg', 'article_date' => '2022-05-20 17:09:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15305', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs of Chitwan Excited about the Prospects of 2 Days' Leave', 'sub_title' => '', 'summary' => 'May 20: Tourism entrepreneurs of Chitwan are excited after the government announced a public holiday on Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: Tourism entrepreneurs of Chitwan are excited after the government announced a public holiday on Sunday. Entrepreneurs are expecting that the number of domestic tourists will increase during the two consecutive days off.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The tourism entrepreneurs hope that the tourism sector, which has been weighed down by the Covid-19 infection, will return to normalcy. They had been demanding leave on Sunday after the number of tourists coming for one night's stay started increasing.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Local tourism entrepreneur Biplav Poudel said that they had been demanding two days' leave for better prospects of business.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Poudel, the manager of Hotel Barahi in Meghauli and Pokhara, said that the number of tourists will now increase in homestays as well as big hotels. "This will make the economy vibrant, '' he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Poudel believes that two days of holidays and fun would energize the workers for the rest of the week days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Deepak Bhattarai, president of the Regional Hotel Association Chitwan, said that the number of tourists used to increase by 50 % compared to other days in the past when there was a regular two-day holiday. "Compared to other days, the number of tourists increases on holidays. At the same time, when there are two days of holidays, the number of tourists is even more,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai said that he expects the tourism sector to be better than before with the two-day holiday. He informed New Business Age that there are positive signs soon after the leave started. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs expect this holiday to increase family travel. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gunaraj Thapaliya, general secretary of the regional hotel association, said that the number of people booking hotels through the telephone has started to increase. Situated in the centre of the country, it is easy to visit Sauraha from many neighbouring districts to spend a night in the wilderness.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the decline in the number of foreign tourists, the tourism sector here has been dependent on domestic tourists. Tourists mainly visit Pokhara, Lumbini, Chitwan, Kathmandu and other areas in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Director of Hotel Narayani Resort, Gaindakot, Basanta Parajuli said that the two-day leave will have a positive impact on the tourism sector. The trend of travelling with family increases during the holidays, he added. </span></span></span></span></p> <p><br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15047', 'image' => '20220520024257_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2022-05-20 14:42:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15304', 'article_category_id' => '1', 'title' => 'Finance Minister Absent during Pre-Budget Discussions ', 'sub_title' => '', 'summary' => 'May 20: With only nine days left for the budget announcement, discussions are underway in the parliament on the priorities and principles of the Appropriation Bill.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 20: With only nine days left for the budget announcement, discussions are underway in the parliament on the priorities and principles of the Appropriation Bill. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the absence of Finance Minister Janardan Sharma during the discussion has raised concerns that the suggestions made by the people’s representatives for the upcoming budget will be limited to the parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The members of parliament questioned the rationale behind the absence of the finance minister during the pre-budget discussion on Thursday. Terming the absence of the finance minister in the parliament as irresponsible, they drew the attention of the speaker. After the objection of the MPs, speaker Agni Prasad Sapkota directed the finance minister to attend the meeting. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma hadn’t stayed till the end during Wednesday’s meeting as well. Maoist MP Gajendra Bahadur Mahat, who was the last speaker on Wednesday, had queried about the finance minister after not seeing him in parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He was not present during the discussion on Thursday also. Chief Whip of the CPN-UML, Bishal Bhattarai said that the finance minister himself started the discussion on the principles and priorities of the budget but was not present during the discussion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that his attention had been drawn to this issue, Speaker Agni Prasad Sapkota said, “As per sub-section 5 of section 6 of the Rules of Procedure of the House of Representatives 2075, I instruct the Honorable Minister of the concerned ministry to attend the meeting.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepali Congress MP and former Minister Dr Minendra Rijal said that it was disappointing that the finance minister and the officials were not present while the principles and priorities of the budget were being discussed in the parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dr Rijal commented that the structural problems in the economy have contributed to the non-spending of the capital budget. Keeping in view the priorities and principles of the Appropriation Bill, he said that the stakeholders, MPs, Ministry of Finance and others should make meaningful efforts to end the trend of non-spending of capital budget. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rijal said that food production should be increased within the country to reduce the pressure on the balance of payments, and clear policy arrangements should be made for the promotion of industries and businesses in public-private partnership. Furthermore, he said that the problems in the economy were not only due to the current government alone and urged not to forget the fact that foreign debt had increased due to the decisions taken by the then UML-led government. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15046', 'image' => '20220520010402_fin min sharma.jpg', 'article_date' => '2022-05-20 13:03:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15303', 'article_category_id' => '1', 'title' => 'Labour Permit Service goes Full-Scale Online from Today ', 'sub_title' => '', 'summary' => 'May 20: The Foreign Employment Office, Kathmandu has informed that it will launch online service for all kinds of labour permits from today (May 20).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 20: The Foreign Employment Office, Kathmandu has informed that it will launch online service for all kinds of labour permits from today (May 20). Now, anyone going abroad for foreign employment can take the labour permit through online system, the state-owned national news agency RSS reported. This will effectively end the need to physically visit the office to take labour permits. </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"">From now on, the new system will be applicable for both individual and institutional labour permits as well as renewal of labour permits. The Foreign Employment Office had started issuing institutional labour permits through online system almost a month ago. Similarly, renewal of labour permit through online system was initiated in January. </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 recent change in service delivery has largely reduced the number of service seekers who used to be present in large numbers at the office until some time ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office chief Ramesh Aryal informed that the labour permit service has gone online as per directive of the Labour Ministry. Such decision was taken to facilitate both the service seekers and the service providers, said Aryal.</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 RSS, a total of 167,000 persons were provided labour permit during last fiscal year while more than half a million people have been granted labour permit in the first 10 months of the current fiscal year. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15045', 'image' => '20220520082126_20211215023334_20200315123851_1111.jpg', 'article_date' => '2022-05-20 08:20:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15302', 'article_category_id' => '1', 'title' => 'Budget Always has the Same Principles and Priorities', 'sub_title' => '', 'summary' => 'May 19: Finance Minister Janardan Sharma on Tuesday presented the principles and priorities of the Appropriation Bill for the budget of the upcoming fiscal year in the federal parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 19: Finance Minister Janardan Sharma on Tuesday presented the principles and priorities of the Appropriation Bill for the budget of the upcoming fiscal year in the federal parliament. The principles and priorities that the government presents in parliament ahead of the budget as per the constitutional provision is always the same in nature every year. It is almost impossible to find something innovative and new in the principles and priorities for the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Appropriation Bill, 2079 BS is aimed at building a socialism-oriented, balanced, inclusive and self-reliant economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The budget for the upcoming fiscal year will focus on fulfilling the aspirations of the Nepali people for development and prosperity and laying the groundwork for a socialism-oriented economy. The flow of public services, transformation and construction of large infrastructure and government investment in the social sector will be increased,” reads the draft.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The budget proposal placed forth three years back by the then Finance Minister Yuba Raj Khatiwada under the government led by KP Sharma Oli also mentioned the same thing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It stated, “The results of the momentous political change we have achieved are being reflected in the social transformation and economic development and the living standards of the people. The achievements we have achieved in a short period of time in the implementation of federalism have laid a solid foundation for good governance, development and prosperity. The budget for the coming fiscal year will be focused on moving forward as a socialism-oriented nation with social justice and high economic growth based on this foundation.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Analyzing the documents presented in parliament in the last few years, it is evident that the principles and priorities of the government is always the same despite change in government. However, those who run the state are yet to clarify how they will create a socialism-oriented economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The priorities of the government for the budget of the upcoming fiscal year once again include development of agriculture sector, industrial development and promotion, development of energy sector, etc. These sated priorities are not new at all.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khatiwada's budget, which he presented in parliament three years ago, also had similar priorities. It read, “Significant advances will be made in formulating investment-friendly laws and structures, accelerating the upliftment of the poor, backward classes, regions and communities, increasing employment opportunities, social security for all, access to basic education and access to primary health care for all.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economist Keshav Acharya stated that usage of such repeated notions make it clear that the government makes such issues as a priority just for the sake of making announcements every year but fails to implement them each time. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the government should not talk only about principles and priorities in the budget, but also state clearly on how they can be implemented. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The budget prioritizes health, education, employment, infrastructure, from a socialist-oriented economy. The state does not seem to be serious about how to achieve the goals set in those areas,” Acharya said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Even the leaders of the ruling parties are not satisfied with the priorities and principles of the budget presented by the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Prime Minister Baburam Bhattarai, leader and a member of the ruling coalition partner – Janata Samajwadi Party – remarked that the priorities and principles should not just be written on papers. According to him, the state should now be responsible for education, health, social security and large infrastructure, while the responsibilities for agriculture, industry, services and tourism should be given to the private sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN-UML leader Yogesh Bhattarai remarked that the principles and priorities of the Appropriation Bill lacked a base for advancing towards the path of socialism and neglected the aspects relating to strengthening public health and education. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He sought the government’s attention towards an increment of capital expenditure by minimizing a trade deficit. He was of the view of preventing a probable difficult situation for nation’s economy. He added that the bill did not seem giving priorities to the reduction of consumption of petroleum products and the promotion of the use of alternative energy. “Non-economic activities have increased, posing an additional challenge to the national economy.’’ </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15044', 'image' => '20220519054048_budget new.jpg', 'article_date' => '2022-05-19 17:39:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15299', 'article_category_id' => '1', 'title' => 'Share Transaction of 14 Companies on Hold due to Merger', 'sub_title' => '', 'summary' => 'May 19: Share trading of 14 companies has been halted due to the process of merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 19: Share trading of 14 companies has been halted due to the process of merger and acquisition. According to the Nepal Stock Exchange (NEPSE), the trading of shares of three commercial banks, five insurance companies, six microfinance companies, and two hydropower companies has been halted for the purpose of merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The three commercial banks are Nepal Investment Bank, Himalayan Bank and Nepal Bangladesh Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of Nepal Investment Bank and Himalayan Bank has been suspended since 31st April 2021 because of the merger process. Although the merger between the two banks has broken down, the share trading is still suspended.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">NEPSE has stated that the share transaction has not be opened despite the breakdown of the merger between the two banks as they have not submitted written request in this regard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of Nepal Bangladesh Bank, which is being acquired by Nabil Bank, has also been suspended since December 12, 2021.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At this time, banks and financial institutions, insurance companies and the hydropower sector are going through mergers and acquisitions. Recently, five insurance companies have signed merger agreements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Everest Insurance and Himalayan General Insurance have agreed to merge in order to increase their paid-up capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of the two companies, which entered into a preliminary merger agreement on April 7, has been suspended since April 8. The largest merger agreement in the insurance sector has been reached between Union Life Insurance, Gurans Life Insurance and Prime Life Insurance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of the three companies, which had signed a preliminary agreement on the merger on April 13, has been suspended since May 12 due to four consecutive days of public holiday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from this, share trading of Nadep Microfinance, Andhikhola Microfinance, Ghodighoda Microfinance and Samaj Microfinance has also been blocked on the pretext of merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Investors have complained that mergers and acquisitions have hampered trading for a long time. Even after months of exiting the merger and acquisition process, the general investors’ assets seem to have been jeopardized by not opening the transaction.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ambika Prasad Poudel, president of the Federation of Nepalese Chambers of Commerce and Industry, Capital Market Forum, said that the investors who have always been supporting the merger and acquisition process have been hit the hardest at this time.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15041', 'image' => '20220519031228_Mergers-and-Acquisitions-Vietnam.jpg', 'article_date' => '2022-05-19 15:11:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15298', 'article_category_id' => '1', 'title' => 'Credit Flow and Deposit Collection of Banks Declining ', 'sub_title' => '', 'summary' => 'May 19: Credit flow and deposit collection of banks have been steadily declining. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 19: Credit flow and deposit collection of banks have been steadily declining. Banks have started reducing the credit flow as deposit collection in banks have not been able to rise amid the current liquidity crisis. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Bankers’ Association, Rs 19 billion was withdrawn from commercial banks between mid-April and mid-May. The total deposits of commercial banks which stood at Rs 4.38 trillion by mid-April, has come down to Rs 4.37 as of mid-May. The association said that although there has been a slight improvement in deposits in late April, there has been a steady decline in deposits after that. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Local elections is believed to be the main reason for the decline in deposit collection of banks. Chairman of the Nepal Bankers' Association and Chief Executive Officer of the Agricultural Development Bank Anil Kumar Upadhyaya said that the money withdrawn from the banking system during the election will be returned to the system gradually. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Along with the deposit collection, the credit flow of the banks have also declined. The credit flow of the banks, which was Rs 4.197 trillion in mid-April, has dropped by Rs 6 billion to Rs Rs 4.191 trillion in mid-May. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The credit flow of the banks are stagnant at the moment as the credit-deposit (CD) ratio is high due to the liquidity crisis. Banks have disbursed only small loans that were already approved. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank has directed banks to maintain the CD ratio of 90 percent by mid-July. However, according to the data of the association, the CD ratio of only nine banks was within the prescribed ratio by the central bank. Besides, the CD ratio of more than a dozen banks is more than 91 percent and half a dozen banks is around 90 percent. The banks have started reducing credit flow to maintain the CD ratio. As per the NRB, the average CD ratio of banks till May 16 is 90.44 percent. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15040', 'image' => '20220519011625_Banks - Copy.jpg', 'article_date' => '2022-05-19 13:15:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15316', 'article_category_id' => '1', 'title' => 'Windstorm Damages 140 Electricity Poles in Bharatpur', 'sub_title' => '', 'summary' => 'May 23: A total of 140 electricity poles collapsed in Bharatpur collapsed due to the windstorm on Friday evening, resulting in electricity power outage.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 23: A total of 140 electricity poles collapsed in Bharatpur collapsed due to the windstorm on Friday evening, resulting in electricity power outage. According to Rajendra Poudel, an engineer at the Nepal Electricity Authority's Bharatpur Distribution Center, the poles collapsed in wards number 1 to 6 of the Bharatpur metropolitan city. He said that it will take five days for the management of poles before they can ensure smooth supply of electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Rajiv Kumar Singh, head of the center, the power supply from Bharatpur substation has been disrupted. According to him, the cables at multiple places snapped due to collapsing of poles in Bharatpur due to strong winds. He also informed that the NEA mobilized a team of four contractors and the entire technical force of NEA to repair the collapsed poles and cables. Singh said that the power supply is being restored by prioritizing critical sectors including hospitals and security agencies, polling stations and drinking water utility.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Engineer Poudel said that there were no issues with the distribution of electricity from Chanauli substation. He said that although there is no problem in the flow of electricity in the western region of Bharatpur, problems have surfaced in the flow of electricity to the district headquarters Bharatpur, Narayangarh market area and Ratnanagar Khairhani of East Chitwan. He informed that materials worth Rs 3 million were damaged and electricity consumption of Rs 50 million was disrupted due to the impact of the windstorm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mobile phone service along with drinking water and internet services have also been affected due to prolonged power outage. Three people were killed and 11 others were injured in the storm on Friday. Many trees in the main urban area of Bharatpur were hit by the storm, causing them to collapse. In most places, the collapsing of trees caused the electricity poles to collapse as well.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-23', 'modified' => '2022-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '15058', 'image' => '20220523025725_Thuderstorm.jpg', 'article_date' => '2022-05-23 13:23:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15315', 'article_category_id' => '1', 'title' => 'Draupadi Dream Trust honours Shreejana Rana with Draupadi Award 2022 ', 'sub_title' => '', 'summary' => 'May 23: Draupadi Dream Trust of India has honoured Shreejana Rana, president of Nepal-India Chamber of Commerce and Industry as well as the Hotel Association of Nepal, with Draupadi Letter of Appreciation 2022 in New Delhi amid a recent function. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 23: Draupadi Dream Trust of India has honoured Shreejana Rana, president of Nepal-India Chamber of Commerce and Industry as well as the Hotel Association of Nepal, with Draupadi Letter of Appreciation 2022 in New Delhi amid a recent function. Rana was honoured for her contribution to Nepal-India bilateral relations through the development and promotion of religious/spiritual tourism in both the countries as the president of Nepal-India Chamber of Commerce.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Draupadi Dream Trust is an institution working on the area of ancient eastern civilization, art, culture, religion and history and publication of such related issues for a long time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rana was honoured for her initiation and contribution to publishing a book and dedicated website on Nepal-India religious/spiritual circuits which covers Buddhist circuits, Mahabharat circuits Ramayan circuit, Shiva-Shakti circuit and Sikh circuit aiming to promote pilgrimage tourism in both the countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rana was honoured amid a special programme in New Delhi and was conferred the letter of appreciation by Ajit Doval, chief security advisor to the Indian Government, on 20th May 2022. The trust honoured various other Indian dignitaries from different walks of life, while Rana was the only Nepali to bag such honour.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal-India Chamber of Commerce and Industry said in a statement that it feels proud at this moment and encourages to work sincerely in the area of Nepal-India economic and bilateral relations in the coming days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepalese Ambassador to India Dr Shankar Sharma was also present on the occasion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-23', 'modified' => '2022-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '15057', 'image' => '20220523120702_IMG-20220521-WA0028.jpg', 'article_date' => '2022-05-23 12:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15313', 'article_category_id' => '1', 'title' => 'NCC urges Bangladesh for Energy Cooperation ', 'sub_title' => '', 'summary' => 'May 22: Nepal Chamber of Commerce (NCC) has proposed to Bangladesh to cooperate in the energy sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 22: Nepal Chamber of Commerce (NCC) has proposed to Bangladesh to cooperate in the energy sector. The NCC has requested for electricity trade with Bangladesh as Nepal will soon be exporting electricity. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at a programme organized at the Bangladesh Embassy in Kathmandu on Friday on the occasion of the 50th anniversary of the establishment of diplomatic relations between Nepal and Bangladesh, Chairman of NCC Rajendra Malla stressed on the implementation of the tripartite agreement on electricity trade between Nepal, India and Bangladesh. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Nepal, India and Bangladesh have reached a tripartite agreement for energy trade. There should be an immediate result-oriented meeting between the energy ministers of the three countries for its effective implementation,” he said in a discussion with the Bangladesh’s ambassador to Nepal, Salahuddin Noman Chowdhury.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> We’ll take the initiative representing the private sector. The government of Bangladesh should also take initiative. Nepal is preparing to sell electricity to Bangladesh,” added Malla. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Malla said that Nepal will be able to export electricity in at least one year from now. According to him, at least 50 megawatts of electricity can be generated for export to India from the existing transmission line and the three countries will have to do their homework for the terms and conditions for electricity trade. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the context of the high demand for energy in Bangladesh, there was a discussion between the two countries on various options for exporting electricity from Nepal. Despite the agreement on the energy trade between Nepal, Bangladesh and India, it has not been implemented in practice. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Malla urged Bangladesh’s ambassador to Nepal to invest in the hydropower sector of Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ambassador Chowdhury said that Bangladesh is ready to buy the electricity produced by Nepal. “Within next few years, Bangladesh will promote green energy,” he said, “Accordingly, our priorities and plans are being made. We are excited to buy electricity from Nepal.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He further said that he would take the initiative to urge the the Government of Bangladesh to start the necessary process to purchase electricity from Nepal through India. Likewise, he said that they are expecting policy improvement for the investment in other sectors as well. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15055', 'image' => '20220522073826_02062016090632Nepal-Bdesh-copy.jpg', 'article_date' => '2022-05-22 19:37:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15312', 'article_category_id' => '1', 'title' => 'Yarsagumba Collection to Start in Dolpa from May 25 ', 'sub_title' => '', 'summary' => 'May 22: Collection of the yarsagumba, an aphrodisiac herb found in the Himalayan region, will be opened for public in Dolpa district from May 25.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: Collection of the yarsagumba, an aphrodisiac herb found in the Himalayan region, will be opened for public in Dolpa district from May 25. An all-party meeting convened by the District Coordination Committee, Dolpa took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting chaired by DCC Chief Sher Bahadur Budha at the district headquarters Dunai on Saturday was attended by the chief representatives of various district bodies. It has decided to allow collection of yarsagumba, which is scientifically known as ophiocordyceps sinensis, in Shephoksundo National Park and various community forests until June 24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the public has not been able to collect yarsagumba for a long time due to COVID-19 pandemic, this time it was opened for about a month. </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"">Residents of the buffer zone, within the district and outside the district will be charged different entrance fees for the collection of the prized herb as per the National Parks Act and regulations. –- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15054', 'image' => '20220522120955_yarsa.jpg', 'article_date' => '2022-05-22 12:07:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15311', 'article_category_id' => '1', 'title' => 'Lawmakers Demand more Budget for Health and Education', 'sub_title' => '', 'summary' => 'May 22: Lawmakers have pressed for ensuring programmes in the budget for the upcoming fiscal year that address their basic needs and are easily accessible to the people. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: Lawmakers have pressed for ensuring programmes in the budget for the upcoming fiscal year that address their basic needs and are easily accessible to the people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations on the principles and priorities of the Appropriation Bill for Fiscal Year 2022-23 on Friday, the MPs urged the government to take the existing economic crisis into consideration while announcing programmes in the new budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Dev Prasad Timilsina demanded easy access to medical care for people with chronic and complicated health issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Yagyaraj Sunuwar said that his party CPN (UML) was well aware of the economic condition of the nation and was serious about it. Therefore, the main opposition party decided to end the house obstruction, said Sunuwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Chhakka Bahadur Lama advised to give priorities to the agriculture sector as well as rural development and backward areas in the budget and to strengthen social justice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meena Subba was of the view that the country could become self-sufficient on food provided that the farmers were ensured seeds, fertilizers and other facilities on right time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She echoed the need of increasing budget in the sectors of health and education, urging the finance minister to address the suggestions of lawmakers in regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rangamati Shahi spoke the need of increasing investment in productive sector and claimed that genuine farmers were deprived of government subsidy. “So the budget should address this issue and lay its focus on job creation by implementing entrepreneurship programmes.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali Congress lawmaker Bharat Kumar Shah said the economy is not in bad shape and in crisis as it has been potrayed. He drew the attention of the government to take steps taking into account the sensitivity of the situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are in the danger zone due to high imports, but we are not in trouble yet," he remarked. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jayapuri Gharti of the CPN (Maoist Center) stressed on the need of prioritizing industries, tourism, agriculture, health and education sectors in the budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shekh Chandtara of the same party said the economy is facing crisis due to the wrong policy adopted by the past governments and it was wrong to squarely blame the incumbent finance minister for all this. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CPN (UML)'s Krishna Prasad Dahal said that the priorities and principles of the budget should be implementable, and more budget should be allocated to the local levels. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15053', 'image' => '20220522120116_budget new.jpg', 'article_date' => '2022-05-22 12:00:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15310', 'article_category_id' => '1', 'title' => 'India’s Ban on Wheat Export to Impact Nepali Industries after 3 Months', 'sub_title' => '', 'summary' => 'May 22: India's ban on wheat exports last week is going to affect the production of six flour mills and dozens of other wheat-based industries in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 22: India's ban on wheat exports last week is going to affect the production of six flour mills and dozens of other wheat-based industries in Nepal. The industrialists said that the problem will emerge in three months even though there is no problem at the moment as the local wheat produce hit the market just recently. They suggested that the government should import wheat from India through G2G agreement since the local production is not going to last long.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The industrialists expressed that the government should initiate discussions with the Indian government immediately to tackle the imminent crisis after three months. They also said that there is no other alternative than to shut down the industries as Nepal's production cannot sustain the industries if the import of wheat from India is also halted.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Bikash Begwani, vice-president of the Morang Merchants’ Association and operator of Bishal Maida Mill said that he has enough stock of wheat for one month. He said that even though the wheat produced in the country can sustain the industry for a few months, wheat from India is necessary to run the industry for the rest of the year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Begwani suggested that the government should negotiate with the Indian government and import wheat to Nepal as soon as possible. He added that the ban imposed by India on wheat export will cause a big impact on the flour mills and other industries including noodles and biscuits industries that rely heavily on wheat.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Begwani said that operating industries by importing flour from India will make the products 25 to 35 percent more expensive. “Consumers will be able to get the products at a lower price if wheat itself is imported through G2G process to operate the industries,” he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Department of Customs, Nepal imported about 336,000 metric tons of wheat worth Rs 6.90 billion from India last year. Ram Chandra Dhungana, information officer at the Biratnagar Customs Office, said that 6,800 metric tons of wheat worth Rs 2.20 billion was imported via Biratnagar last year. According to him, wheat has not been imported from Biratnagar after India announced the ban.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Harivansh Rathi, the operator of Gaumati Foods says that the Nepali industries are dependent on imported wheat from India for nine months while the local produce sustain the industries for three months. He said that if the government of Nepal fails to facilitate the import of wheat by discussing with the government of India, a huge shortage will be created. Recalling the time when India imposed a ban on wheat exports a few years ago, Rathi said, “India provided wheat to Nepal and other neighboring countries by implementing a quota system. Therefore, it is necessary to hold discussions with the Indian government immediately to prevent the shortage.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India is the world's second largest wheat producer after China. Wheat supply through the Black Sea is now halted due to tensions between Russia, the third largest producer of wheat, and Ukraine, the eighth largest producer. This time, India imposed a ban on exports, citing the decline of wheat production in India due to the scorching heat of March as well as the Russia-Ukraine war. However, Rathi said that Nepal's industries are confident of India adopting some lenient policies for neighboring countries. On the other hand, India itself has stated that exports to countries that need wheat for food security will not be halted.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Operator of Baba Flour Mill Suresh Rathi said that even if India bans wheat export, local production will last for a few months and there will be no immediate problem. He says the ban will impact in the long run. He said that the industry can be run by wheat imported from other countries after paying customs duty and taking advantage of the open border Nepal shares with India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15052', 'image' => '20220522114859_IMAGE_1646636720.jpg', 'article_date' => '2022-05-22 11:48:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15309', 'article_category_id' => '1', 'title' => 'Major Hospitals to Remain Open in KTM Valley on Sundays', 'sub_title' => '', 'summary' => 'May 22: Most of the major hospitals in the Kathmandu Valley will be operational on Sundays despite the government's decision to grant public holiday for two days a week. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 22: Most of the major hospitals in the Kathmandu Valley will be operational on Sundays despite the government's decision to grant public holiday for two days a week. The hospitals decided to operate on Sunday as well, stating that the patients will have to suffer in absence of treatment if they are closed for two consecutive days. The government decided to give leave on Saturday and Sunday, starting from May 15 in a trial phase with the objective of reducing fuel consumption. The government has fixed office hours on weekdays from Monday through Friday between 9:30 am to 5:30 pm.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The major hospitals in the valley including Tribhuvan University Teaching Hospital, Civil Service Hospital, Kanti Children's Hospital, Sukraraj Tropical and Communicable Diseases Hospital, Shahid Ganga Lal Heart Center, Paropakar Maternity Hospital have decided to operate on Sundays as well. However, Bir Hospital will be closed on Sunday, as per the government's decision to grant two days leave.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dr Bhupendra Basnet, director of Bir Hospital, said that the hospital will be closed on Sunday as per the decision of the government. Basnet said, “We are operating the hospital as per the decision of the government. The emergency services of the hospital are operating 24 hours a day. We decided to close the hospital on Sunday as not many critical patients visit the outpatient department.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the director of Ganga Lal Heart Center, Dr Chandramani Adhikari said, as the center is an independent health institution, it will remain open on Sunday as well, considering the treatment of the patients, regardless of the government's decision. About 600 patients visit the center daily for treatment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The director of Sukraraj Tropical and Communicable Diseases Hospital, Dr Manisha Thapa said that all services including outpatient services will be operated regularly even on public holidays. Ram Bikram Adhikari, information officer of Tribhuvan University Teaching Hospital, informed that the hospital will continue to operate as before.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15051', 'image' => '20220522114737_Hospital.jpg', 'article_date' => '2022-05-22 11:46:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15307', 'article_category_id' => '1', 'title' => 'Government has 21,000 Quintals of Flour in Stock', 'sub_title' => '', 'summary' => 'May 20: The state-owned Salt Trading Corporation, which is responsible for buying and selling food and fertilizer at subsidized rate, has 21,000 quintals of flour in stock. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: The state-owned Salt Trading Corporation, which is responsible for buying and selling food and fertilizer at subsidized rate, has 21,000 quintals of flour in stock. Hetauda-based Nepal Food Industries Limited, a subsidiary of Salt Trading Corporation, has produced 75,000 quintals of flour in the current fiscal year. Of this, 54,000 quintals have been sold and 21,000 quintals are left, informed the Salt Trading Corporation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The stock of Salt Trading Corporation will not last for even a day if it is sold as per the market demand. However, the spokesperson of Salt Trading Corporation, Kumar Rajbhandari said that the flour is being sold in retail just to keep the uncontrolled price hike in in the market in check. Traders, however, claim that there is no shortage of flour and other commodities in the market even though the government does not have enough stock.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Pabitra Bajracharya, the outgoing president of the Retail Trade Association, remarked that if the current situation continues for a long time, the prices of biscuits, noodles, pasta and other commodities are likely to be affected. According to him, there is no probability of immediate price hike as retailers and wholesalers have stocks of old goods that can last for up to 2/3 months.</span></span></span></span></p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15049', 'image' => '20220520055604_Flour_AdobeStock_169806265_E.jpg', 'article_date' => '2022-05-20 17:55:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15306', 'article_category_id' => '1', 'title' => 'Price of Wheat Skyrocketing in International Market', 'sub_title' => '', 'summary' => 'May 20: As soon as the Indian government imposed a ban on the exports of wheat, its price skyrocketed in the international market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: As soon as the Indian government imposed a ban on the exports of wheat, its price skyrocketed in the international market. Ironically, Nepali farmers were forced to sell wheat at cheaper rates when the price has been soaring worldwide. Due to the government's failure to announce support price at the right time and traders arbitrarily fixing the price for the farmers' produce, Nepali farmers were obliged to sell wheat at cheap prices even when prices were skyrocketing in the international market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India banned export of wheat last Friday. According to international media, the price of wheat went through the roof in the world market, marking an increase of 60 percent this year alone. According to the traders, the price of wheat flour even in India went up from Rs 2880 to Rs 3300 per quintal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">No matter how much the price goes up in the world market, Nepali farmers are still devoid from any benefits. Before the government fixed the support price, farmers in some districts of the Terai had already sold wheat at Rs 400 per quintal, which is lesser than the minimum support price set by the government. The government later fixed the support price of wheat at Rs 3,165 per quintal after much delay. However, farmers are not even able to get this price. Till date, farmers of Sunsari, Siraha, Rautahat and other districts are selling wheat at the rate of Rs 2,800 per quintal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhubaneswar Yadav, a representative farmer from Sunsari said, “The government does not buy wheat from these districts. Wheat that we sold to traders at Rs 2,800 is now being sold by traders at Rs 3,600 per quintal. Flour industrialists do not buy wheat directly from us, that is why we are forced to sit idly and watch all the profits reaped by the middlemen.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Farmers of Banke, Bardiya and Kailali have already sold wheat to traders at the rate of Rs 2,800 per quintal. After the farmers sold their produce, the Food Management and Trading Company of the government started buying wheat in those districts. Food procurement centers are deserted as farmers have already sold wheat. Sharmila Subedi, information officer of the state-owned company said that 112 quintals of wheat was purchased in Rajapur of Bardiya, besides which, other procurement centers could not buy wheat at all.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another farmer Chandra Kant Yadav from Lahan said that he sold 25 quintals of wheat to local traders at the rate of Rs 2,800 per quintal. He expressed, “It is said that the prices have gone up now. We could not even sell at the rate fixed by the government. The Food Management and Trading Company started buying wheat only after we sold it. Now, it is the traders who make profit.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the stakeholders, farmers not getting a fair price for their produce has become a persistent problem. Chairman of the National Farmers' Commission, Dr. Prem Prasad Dangal, says that although the government implemented the concept of support price to prevent farmers from being cheated by traders, the government's weakness itself has posed a challenge to its implementation. “It is a shame that Nepali farmers have to sell their produce at lower rates when prices are rising in the international market,” said Dangal. </span></span></span></span></p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15048', 'image' => '20220520051031_Wheat_photo-cred-Adobe-stock_E-2.jpg', 'article_date' => '2022-05-20 17:09:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15305', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs of Chitwan Excited about the Prospects of 2 Days' Leave', 'sub_title' => '', 'summary' => 'May 20: Tourism entrepreneurs of Chitwan are excited after the government announced a public holiday on Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: Tourism entrepreneurs of Chitwan are excited after the government announced a public holiday on Sunday. Entrepreneurs are expecting that the number of domestic tourists will increase during the two consecutive days off.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The tourism entrepreneurs hope that the tourism sector, which has been weighed down by the Covid-19 infection, will return to normalcy. They had been demanding leave on Sunday after the number of tourists coming for one night's stay started increasing.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Local tourism entrepreneur Biplav Poudel said that they had been demanding two days' leave for better prospects of business.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Poudel, the manager of Hotel Barahi in Meghauli and Pokhara, said that the number of tourists will now increase in homestays as well as big hotels. "This will make the economy vibrant, '' he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Poudel believes that two days of holidays and fun would energize the workers for the rest of the week days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Deepak Bhattarai, president of the Regional Hotel Association Chitwan, said that the number of tourists used to increase by 50 % compared to other days in the past when there was a regular two-day holiday. "Compared to other days, the number of tourists increases on holidays. At the same time, when there are two days of holidays, the number of tourists is even more,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai said that he expects the tourism sector to be better than before with the two-day holiday. He informed New Business Age that there are positive signs soon after the leave started. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs expect this holiday to increase family travel. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gunaraj Thapaliya, general secretary of the regional hotel association, said that the number of people booking hotels through the telephone has started to increase. Situated in the centre of the country, it is easy to visit Sauraha from many neighbouring districts to spend a night in the wilderness.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the decline in the number of foreign tourists, the tourism sector here has been dependent on domestic tourists. Tourists mainly visit Pokhara, Lumbini, Chitwan, Kathmandu and other areas in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Director of Hotel Narayani Resort, Gaindakot, Basanta Parajuli said that the two-day leave will have a positive impact on the tourism sector. The trend of travelling with family increases during the holidays, he added. </span></span></span></span></p> <p><br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15047', 'image' => '20220520024257_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2022-05-20 14:42:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15304', 'article_category_id' => '1', 'title' => 'Finance Minister Absent during Pre-Budget Discussions ', 'sub_title' => '', 'summary' => 'May 20: With only nine days left for the budget announcement, discussions are underway in the parliament on the priorities and principles of the Appropriation Bill.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 20: With only nine days left for the budget announcement, discussions are underway in the parliament on the priorities and principles of the Appropriation Bill. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the absence of Finance Minister Janardan Sharma during the discussion has raised concerns that the suggestions made by the people’s representatives for the upcoming budget will be limited to the parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The members of parliament questioned the rationale behind the absence of the finance minister during the pre-budget discussion on Thursday. Terming the absence of the finance minister in the parliament as irresponsible, they drew the attention of the speaker. After the objection of the MPs, speaker Agni Prasad Sapkota directed the finance minister to attend the meeting. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma hadn’t stayed till the end during Wednesday’s meeting as well. Maoist MP Gajendra Bahadur Mahat, who was the last speaker on Wednesday, had queried about the finance minister after not seeing him in parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He was not present during the discussion on Thursday also. Chief Whip of the CPN-UML, Bishal Bhattarai said that the finance minister himself started the discussion on the principles and priorities of the budget but was not present during the discussion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that his attention had been drawn to this issue, Speaker Agni Prasad Sapkota said, “As per sub-section 5 of section 6 of the Rules of Procedure of the House of Representatives 2075, I instruct the Honorable Minister of the concerned ministry to attend the meeting.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepali Congress MP and former Minister Dr Minendra Rijal said that it was disappointing that the finance minister and the officials were not present while the principles and priorities of the budget were being discussed in the parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dr Rijal commented that the structural problems in the economy have contributed to the non-spending of the capital budget. Keeping in view the priorities and principles of the Appropriation Bill, he said that the stakeholders, MPs, Ministry of Finance and others should make meaningful efforts to end the trend of non-spending of capital budget. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rijal said that food production should be increased within the country to reduce the pressure on the balance of payments, and clear policy arrangements should be made for the promotion of industries and businesses in public-private partnership. Furthermore, he said that the problems in the economy were not only due to the current government alone and urged not to forget the fact that foreign debt had increased due to the decisions taken by the then UML-led government. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15046', 'image' => '20220520010402_fin min sharma.jpg', 'article_date' => '2022-05-20 13:03:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15303', 'article_category_id' => '1', 'title' => 'Labour Permit Service goes Full-Scale Online from Today ', 'sub_title' => '', 'summary' => 'May 20: The Foreign Employment Office, Kathmandu has informed that it will launch online service for all kinds of labour permits from today (May 20).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 20: The Foreign Employment Office, Kathmandu has informed that it will launch online service for all kinds of labour permits from today (May 20). Now, anyone going abroad for foreign employment can take the labour permit through online system, the state-owned national news agency RSS reported. This will effectively end the need to physically visit the office to take labour permits. </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"">From now on, the new system will be applicable for both individual and institutional labour permits as well as renewal of labour permits. The Foreign Employment Office had started issuing institutional labour permits through online system almost a month ago. Similarly, renewal of labour permit through online system was initiated in January. </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 recent change in service delivery has largely reduced the number of service seekers who used to be present in large numbers at the office until some time ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office chief Ramesh Aryal informed that the labour permit service has gone online as per directive of the Labour Ministry. Such decision was taken to facilitate both the service seekers and the service providers, said Aryal.</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 RSS, a total of 167,000 persons were provided labour permit during last fiscal year while more than half a million people have been granted labour permit in the first 10 months of the current fiscal year. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15045', 'image' => '20220520082126_20211215023334_20200315123851_1111.jpg', 'article_date' => '2022-05-20 08:20:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15302', 'article_category_id' => '1', 'title' => 'Budget Always has the Same Principles and Priorities', 'sub_title' => '', 'summary' => 'May 19: Finance Minister Janardan Sharma on Tuesday presented the principles and priorities of the Appropriation Bill for the budget of the upcoming fiscal year in the federal parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 19: Finance Minister Janardan Sharma on Tuesday presented the principles and priorities of the Appropriation Bill for the budget of the upcoming fiscal year in the federal parliament. The principles and priorities that the government presents in parliament ahead of the budget as per the constitutional provision is always the same in nature every year. It is almost impossible to find something innovative and new in the principles and priorities for the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Appropriation Bill, 2079 BS is aimed at building a socialism-oriented, balanced, inclusive and self-reliant economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The budget for the upcoming fiscal year will focus on fulfilling the aspirations of the Nepali people for development and prosperity and laying the groundwork for a socialism-oriented economy. The flow of public services, transformation and construction of large infrastructure and government investment in the social sector will be increased,” reads the draft.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The budget proposal placed forth three years back by the then Finance Minister Yuba Raj Khatiwada under the government led by KP Sharma Oli also mentioned the same thing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It stated, “The results of the momentous political change we have achieved are being reflected in the social transformation and economic development and the living standards of the people. The achievements we have achieved in a short period of time in the implementation of federalism have laid a solid foundation for good governance, development and prosperity. The budget for the coming fiscal year will be focused on moving forward as a socialism-oriented nation with social justice and high economic growth based on this foundation.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Analyzing the documents presented in parliament in the last few years, it is evident that the principles and priorities of the government is always the same despite change in government. However, those who run the state are yet to clarify how they will create a socialism-oriented economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The priorities of the government for the budget of the upcoming fiscal year once again include development of agriculture sector, industrial development and promotion, development of energy sector, etc. These sated priorities are not new at all.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khatiwada's budget, which he presented in parliament three years ago, also had similar priorities. It read, “Significant advances will be made in formulating investment-friendly laws and structures, accelerating the upliftment of the poor, backward classes, regions and communities, increasing employment opportunities, social security for all, access to basic education and access to primary health care for all.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economist Keshav Acharya stated that usage of such repeated notions make it clear that the government makes such issues as a priority just for the sake of making announcements every year but fails to implement them each time. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the government should not talk only about principles and priorities in the budget, but also state clearly on how they can be implemented. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The budget prioritizes health, education, employment, infrastructure, from a socialist-oriented economy. The state does not seem to be serious about how to achieve the goals set in those areas,” Acharya said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Even the leaders of the ruling parties are not satisfied with the priorities and principles of the budget presented by the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Prime Minister Baburam Bhattarai, leader and a member of the ruling coalition partner – Janata Samajwadi Party – remarked that the priorities and principles should not just be written on papers. According to him, the state should now be responsible for education, health, social security and large infrastructure, while the responsibilities for agriculture, industry, services and tourism should be given to the private sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN-UML leader Yogesh Bhattarai remarked that the principles and priorities of the Appropriation Bill lacked a base for advancing towards the path of socialism and neglected the aspects relating to strengthening public health and education. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He sought the government’s attention towards an increment of capital expenditure by minimizing a trade deficit. He was of the view of preventing a probable difficult situation for nation’s economy. He added that the bill did not seem giving priorities to the reduction of consumption of petroleum products and the promotion of the use of alternative energy. “Non-economic activities have increased, posing an additional challenge to the national economy.’’ </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15044', 'image' => '20220519054048_budget new.jpg', 'article_date' => '2022-05-19 17:39:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15299', 'article_category_id' => '1', 'title' => 'Share Transaction of 14 Companies on Hold due to Merger', 'sub_title' => '', 'summary' => 'May 19: Share trading of 14 companies has been halted due to the process of merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 19: Share trading of 14 companies has been halted due to the process of merger and acquisition. According to the Nepal Stock Exchange (NEPSE), the trading of shares of three commercial banks, five insurance companies, six microfinance companies, and two hydropower companies has been halted for the purpose of merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The three commercial banks are Nepal Investment Bank, Himalayan Bank and Nepal Bangladesh Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of Nepal Investment Bank and Himalayan Bank has been suspended since 31st April 2021 because of the merger process. Although the merger between the two banks has broken down, the share trading is still suspended.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">NEPSE has stated that the share transaction has not be opened despite the breakdown of the merger between the two banks as they have not submitted written request in this regard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of Nepal Bangladesh Bank, which is being acquired by Nabil Bank, has also been suspended since December 12, 2021.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At this time, banks and financial institutions, insurance companies and the hydropower sector are going through mergers and acquisitions. Recently, five insurance companies have signed merger agreements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Everest Insurance and Himalayan General Insurance have agreed to merge in order to increase their paid-up capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of the two companies, which entered into a preliminary merger agreement on April 7, has been suspended since April 8. The largest merger agreement in the insurance sector has been reached between Union Life Insurance, Gurans Life Insurance and Prime Life Insurance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of the three companies, which had signed a preliminary agreement on the merger on April 13, has been suspended since May 12 due to four consecutive days of public holiday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from this, share trading of Nadep Microfinance, Andhikhola Microfinance, Ghodighoda Microfinance and Samaj Microfinance has also been blocked on the pretext of merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Investors have complained that mergers and acquisitions have hampered trading for a long time. Even after months of exiting the merger and acquisition process, the general investors’ assets seem to have been jeopardized by not opening the transaction.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ambika Prasad Poudel, president of the Federation of Nepalese Chambers of Commerce and Industry, Capital Market Forum, said that the investors who have always been supporting the merger and acquisition process have been hit the hardest at this time.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15041', 'image' => '20220519031228_Mergers-and-Acquisitions-Vietnam.jpg', 'article_date' => '2022-05-19 15:11:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15298', 'article_category_id' => '1', 'title' => 'Credit Flow and Deposit Collection of Banks Declining ', 'sub_title' => '', 'summary' => 'May 19: Credit flow and deposit collection of banks have been steadily declining. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 19: Credit flow and deposit collection of banks have been steadily declining. Banks have started reducing the credit flow as deposit collection in banks have not been able to rise amid the current liquidity crisis. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Bankers’ Association, Rs 19 billion was withdrawn from commercial banks between mid-April and mid-May. The total deposits of commercial banks which stood at Rs 4.38 trillion by mid-April, has come down to Rs 4.37 as of mid-May. The association said that although there has been a slight improvement in deposits in late April, there has been a steady decline in deposits after that. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Local elections is believed to be the main reason for the decline in deposit collection of banks. Chairman of the Nepal Bankers' Association and Chief Executive Officer of the Agricultural Development Bank Anil Kumar Upadhyaya said that the money withdrawn from the banking system during the election will be returned to the system gradually. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Along with the deposit collection, the credit flow of the banks have also declined. The credit flow of the banks, which was Rs 4.197 trillion in mid-April, has dropped by Rs 6 billion to Rs Rs 4.191 trillion in mid-May. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The credit flow of the banks are stagnant at the moment as the credit-deposit (CD) ratio is high due to the liquidity crisis. Banks have disbursed only small loans that were already approved. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank has directed banks to maintain the CD ratio of 90 percent by mid-July. However, according to the data of the association, the CD ratio of only nine banks was within the prescribed ratio by the central bank. Besides, the CD ratio of more than a dozen banks is more than 91 percent and half a dozen banks is around 90 percent. The banks have started reducing credit flow to maintain the CD ratio. As per the NRB, the average CD ratio of banks till May 16 is 90.44 percent. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15040', 'image' => '20220519011625_Banks - Copy.jpg', 'article_date' => '2022-05-19 13:15:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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According to Rajendra Poudel, an engineer at the Nepal Electricity Authority's Bharatpur Distribution Center, the poles collapsed in wards number 1 to 6 of the Bharatpur metropolitan city. He said that it will take five days for the management of poles before they can ensure smooth supply of electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Rajiv Kumar Singh, head of the center, the power supply from Bharatpur substation has been disrupted. According to him, the cables at multiple places snapped due to collapsing of poles in Bharatpur due to strong winds. He also informed that the NEA mobilized a team of four contractors and the entire technical force of NEA to repair the collapsed poles and cables. Singh said that the power supply is being restored by prioritizing critical sectors including hospitals and security agencies, polling stations and drinking water utility.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Engineer Poudel said that there were no issues with the distribution of electricity from Chanauli substation. He said that although there is no problem in the flow of electricity in the western region of Bharatpur, problems have surfaced in the flow of electricity to the district headquarters Bharatpur, Narayangarh market area and Ratnanagar Khairhani of East Chitwan. He informed that materials worth Rs 3 million were damaged and electricity consumption of Rs 50 million was disrupted due to the impact of the windstorm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Mobile phone service along with drinking water and internet services have also been affected due to prolonged power outage. Three people were killed and 11 others were injured in the storm on Friday. Many trees in the main urban area of Bharatpur were hit by the storm, causing them to collapse. In most places, the collapsing of trees caused the electricity poles to collapse as well.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-23', 'modified' => '2022-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '15058', 'image' => '20220523025725_Thuderstorm.jpg', 'article_date' => '2022-05-23 13:23:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15315', 'article_category_id' => '1', 'title' => 'Draupadi Dream Trust honours Shreejana Rana with Draupadi Award 2022 ', 'sub_title' => '', 'summary' => 'May 23: Draupadi Dream Trust of India has honoured Shreejana Rana, president of Nepal-India Chamber of Commerce and Industry as well as the Hotel Association of Nepal, with Draupadi Letter of Appreciation 2022 in New Delhi amid a recent function. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 23: Draupadi Dream Trust of India has honoured Shreejana Rana, president of Nepal-India Chamber of Commerce and Industry as well as the Hotel Association of Nepal, with Draupadi Letter of Appreciation 2022 in New Delhi amid a recent function. Rana was honoured for her contribution to Nepal-India bilateral relations through the development and promotion of religious/spiritual tourism in both the countries as the president of Nepal-India Chamber of Commerce.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Draupadi Dream Trust is an institution working on the area of ancient eastern civilization, art, culture, religion and history and publication of such related issues for a long time.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rana was honoured for her initiation and contribution to publishing a book and dedicated website on Nepal-India religious/spiritual circuits which covers Buddhist circuits, Mahabharat circuits Ramayan circuit, Shiva-Shakti circuit and Sikh circuit aiming to promote pilgrimage tourism in both the countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rana was honoured amid a special programme in New Delhi and was conferred the letter of appreciation by Ajit Doval, chief security advisor to the Indian Government, on 20th May 2022. The trust honoured various other Indian dignitaries from different walks of life, while Rana was the only Nepali to bag such honour.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal-India Chamber of Commerce and Industry said in a statement that it feels proud at this moment and encourages to work sincerely in the area of Nepal-India economic and bilateral relations in the coming days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepalese Ambassador to India Dr Shankar Sharma was also present on the occasion.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-23', 'modified' => '2022-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '15057', 'image' => '20220523120702_IMG-20220521-WA0028.jpg', 'article_date' => '2022-05-23 12:05:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15313', 'article_category_id' => '1', 'title' => 'NCC urges Bangladesh for Energy Cooperation ', 'sub_title' => '', 'summary' => 'May 22: Nepal Chamber of Commerce (NCC) has proposed to Bangladesh to cooperate in the energy sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 22: Nepal Chamber of Commerce (NCC) has proposed to Bangladesh to cooperate in the energy sector. The NCC has requested for electricity trade with Bangladesh as Nepal will soon be exporting electricity. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at a programme organized at the Bangladesh Embassy in Kathmandu on Friday on the occasion of the 50th anniversary of the establishment of diplomatic relations between Nepal and Bangladesh, Chairman of NCC Rajendra Malla stressed on the implementation of the tripartite agreement on electricity trade between Nepal, India and Bangladesh. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“Nepal, India and Bangladesh have reached a tripartite agreement for energy trade. There should be an immediate result-oriented meeting between the energy ministers of the three countries for its effective implementation,” he said in a discussion with the Bangladesh’s ambassador to Nepal, Salahuddin Noman Chowdhury.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> We’ll take the initiative representing the private sector. The government of Bangladesh should also take initiative. Nepal is preparing to sell electricity to Bangladesh,” added Malla. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Malla said that Nepal will be able to export electricity in at least one year from now. According to him, at least 50 megawatts of electricity can be generated for export to India from the existing transmission line and the three countries will have to do their homework for the terms and conditions for electricity trade. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the context of the high demand for energy in Bangladesh, there was a discussion between the two countries on various options for exporting electricity from Nepal. Despite the agreement on the energy trade between Nepal, Bangladesh and India, it has not been implemented in practice. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Malla urged Bangladesh’s ambassador to Nepal to invest in the hydropower sector of Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ambassador Chowdhury said that Bangladesh is ready to buy the electricity produced by Nepal. “Within next few years, Bangladesh will promote green energy,” he said, “Accordingly, our priorities and plans are being made. We are excited to buy electricity from Nepal.” </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">He further said that he would take the initiative to urge the the Government of Bangladesh to start the necessary process to purchase electricity from Nepal through India. Likewise, he said that they are expecting policy improvement for the investment in other sectors as well. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15055', 'image' => '20220522073826_02062016090632Nepal-Bdesh-copy.jpg', 'article_date' => '2022-05-22 19:37:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15312', 'article_category_id' => '1', 'title' => 'Yarsagumba Collection to Start in Dolpa from May 25 ', 'sub_title' => '', 'summary' => 'May 22: Collection of the yarsagumba, an aphrodisiac herb found in the Himalayan region, will be opened for public in Dolpa district from May 25.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: Collection of the yarsagumba, an aphrodisiac herb found in the Himalayan region, will be opened for public in Dolpa district from May 25. An all-party meeting convened by the District Coordination Committee, Dolpa took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting chaired by DCC Chief Sher Bahadur Budha at the district headquarters Dunai on Saturday was attended by the chief representatives of various district bodies. It has decided to allow collection of yarsagumba, which is scientifically known as ophiocordyceps sinensis, in Shephoksundo National Park and various community forests until June 24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the public has not been able to collect yarsagumba for a long time due to COVID-19 pandemic, this time it was opened for about a month. </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"">Residents of the buffer zone, within the district and outside the district will be charged different entrance fees for the collection of the prized herb as per the National Parks Act and regulations. –- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15054', 'image' => '20220522120955_yarsa.jpg', 'article_date' => '2022-05-22 12:07:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15311', 'article_category_id' => '1', 'title' => 'Lawmakers Demand more Budget for Health and Education', 'sub_title' => '', 'summary' => 'May 22: Lawmakers have pressed for ensuring programmes in the budget for the upcoming fiscal year that address their basic needs and are easily accessible to the people. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: Lawmakers have pressed for ensuring programmes in the budget for the upcoming fiscal year that address their basic needs and are easily accessible to the people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Taking part in the deliberations on the principles and priorities of the Appropriation Bill for Fiscal Year 2022-23 on Friday, the MPs urged the government to take the existing economic crisis into consideration while announcing programmes in the new budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Dev Prasad Timilsina demanded easy access to medical care for people with chronic and complicated health issues. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Yagyaraj Sunuwar said that his party CPN (UML) was well aware of the economic condition of the nation and was serious about it. Therefore, the main opposition party decided to end the house obstruction, said Sunuwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Chhakka Bahadur Lama advised to give priorities to the agriculture sector as well as rural development and backward areas in the budget and to strengthen social justice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meena Subba was of the view that the country could become self-sufficient on food provided that the farmers were ensured seeds, fertilizers and other facilities on right time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She echoed the need of increasing budget in the sectors of health and education, urging the finance minister to address the suggestions of lawmakers in regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rangamati Shahi spoke the need of increasing investment in productive sector and claimed that genuine farmers were deprived of government subsidy. “So the budget should address this issue and lay its focus on job creation by implementing entrepreneurship programmes.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepali Congress lawmaker Bharat Kumar Shah said the economy is not in bad shape and in crisis as it has been potrayed. He drew the attention of the government to take steps taking into account the sensitivity of the situation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We are in the danger zone due to high imports, but we are not in trouble yet," he remarked. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Jayapuri Gharti of the CPN (Maoist Center) stressed on the need of prioritizing industries, tourism, agriculture, health and education sectors in the budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shekh Chandtara of the same party said the economy is facing crisis due to the wrong policy adopted by the past governments and it was wrong to squarely blame the incumbent finance minister for all this. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CPN (UML)'s Krishna Prasad Dahal said that the priorities and principles of the budget should be implementable, and more budget should be allocated to the local levels. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15053', 'image' => '20220522120116_budget new.jpg', 'article_date' => '2022-05-22 12:00:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15310', 'article_category_id' => '1', 'title' => 'India’s Ban on Wheat Export to Impact Nepali Industries after 3 Months', 'sub_title' => '', 'summary' => 'May 22: India's ban on wheat exports last week is going to affect the production of six flour mills and dozens of other wheat-based industries in Nepal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 22: India's ban on wheat exports last week is going to affect the production of six flour mills and dozens of other wheat-based industries in Nepal. The industrialists said that the problem will emerge in three months even though there is no problem at the moment as the local wheat produce hit the market just recently. They suggested that the government should import wheat from India through G2G agreement since the local production is not going to last long.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The industrialists expressed that the government should initiate discussions with the Indian government immediately to tackle the imminent crisis after three months. They also said that there is no other alternative than to shut down the industries as Nepal's production cannot sustain the industries if the import of wheat from India is also halted.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Bikash Begwani, vice-president of the Morang Merchants’ Association and operator of Bishal Maida Mill said that he has enough stock of wheat for one month. He said that even though the wheat produced in the country can sustain the industry for a few months, wheat from India is necessary to run the industry for the rest of the year. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Begwani suggested that the government should negotiate with the Indian government and import wheat to Nepal as soon as possible. He added that the ban imposed by India on wheat export will cause a big impact on the flour mills and other industries including noodles and biscuits industries that rely heavily on wheat.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Begwani said that operating industries by importing flour from India will make the products 25 to 35 percent more expensive. “Consumers will be able to get the products at a lower price if wheat itself is imported through G2G process to operate the industries,” he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Department of Customs, Nepal imported about 336,000 metric tons of wheat worth Rs 6.90 billion from India last year. Ram Chandra Dhungana, information officer at the Biratnagar Customs Office, said that 6,800 metric tons of wheat worth Rs 2.20 billion was imported via Biratnagar last year. According to him, wheat has not been imported from Biratnagar after India announced the ban.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Harivansh Rathi, the operator of Gaumati Foods says that the Nepali industries are dependent on imported wheat from India for nine months while the local produce sustain the industries for three months. He said that if the government of Nepal fails to facilitate the import of wheat by discussing with the government of India, a huge shortage will be created. Recalling the time when India imposed a ban on wheat exports a few years ago, Rathi said, “India provided wheat to Nepal and other neighboring countries by implementing a quota system. Therefore, it is necessary to hold discussions with the Indian government immediately to prevent the shortage.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India is the world's second largest wheat producer after China. Wheat supply through the Black Sea is now halted due to tensions between Russia, the third largest producer of wheat, and Ukraine, the eighth largest producer. This time, India imposed a ban on exports, citing the decline of wheat production in India due to the scorching heat of March as well as the Russia-Ukraine war. However, Rathi said that Nepal's industries are confident of India adopting some lenient policies for neighboring countries. On the other hand, India itself has stated that exports to countries that need wheat for food security will not be halted.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Operator of Baba Flour Mill Suresh Rathi said that even if India bans wheat export, local production will last for a few months and there will be no immediate problem. He says the ban will impact in the long run. He said that the industry can be run by wheat imported from other countries after paying customs duty and taking advantage of the open border Nepal shares with India.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15052', 'image' => '20220522114859_IMAGE_1646636720.jpg', 'article_date' => '2022-05-22 11:48:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15309', 'article_category_id' => '1', 'title' => 'Major Hospitals to Remain Open in KTM Valley on Sundays', 'sub_title' => '', 'summary' => 'May 22: Most of the major hospitals in the Kathmandu Valley will be operational on Sundays despite the government's decision to grant public holiday for two days a week. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 22: Most of the major hospitals in the Kathmandu Valley will be operational on Sundays despite the government's decision to grant public holiday for two days a week. The hospitals decided to operate on Sunday as well, stating that the patients will have to suffer in absence of treatment if they are closed for two consecutive days. The government decided to give leave on Saturday and Sunday, starting from May 15 in a trial phase with the objective of reducing fuel consumption. The government has fixed office hours on weekdays from Monday through Friday between 9:30 am to 5:30 pm.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The major hospitals in the valley including Tribhuvan University Teaching Hospital, Civil Service Hospital, Kanti Children's Hospital, Sukraraj Tropical and Communicable Diseases Hospital, Shahid Ganga Lal Heart Center, Paropakar Maternity Hospital have decided to operate on Sundays as well. However, Bir Hospital will be closed on Sunday, as per the government's decision to grant two days leave.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Dr Bhupendra Basnet, director of Bir Hospital, said that the hospital will be closed on Sunday as per the decision of the government. Basnet said, “We are operating the hospital as per the decision of the government. The emergency services of the hospital are operating 24 hours a day. We decided to close the hospital on Sunday as not many critical patients visit the outpatient department.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, the director of Ganga Lal Heart Center, Dr Chandramani Adhikari said, as the center is an independent health institution, it will remain open on Sunday as well, considering the treatment of the patients, regardless of the government's decision. About 600 patients visit the center daily for treatment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The director of Sukraraj Tropical and Communicable Diseases Hospital, Dr Manisha Thapa said that all services including outpatient services will be operated regularly even on public holidays. Ram Bikram Adhikari, information officer of Tribhuvan University Teaching Hospital, informed that the hospital will continue to operate as before.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-22', 'modified' => '2022-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '15051', 'image' => '20220522114737_Hospital.jpg', 'article_date' => '2022-05-22 11:46:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15307', 'article_category_id' => '1', 'title' => 'Government has 21,000 Quintals of Flour in Stock', 'sub_title' => '', 'summary' => 'May 20: The state-owned Salt Trading Corporation, which is responsible for buying and selling food and fertilizer at subsidized rate, has 21,000 quintals of flour in stock. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: The state-owned Salt Trading Corporation, which is responsible for buying and selling food and fertilizer at subsidized rate, has 21,000 quintals of flour in stock. Hetauda-based Nepal Food Industries Limited, a subsidiary of Salt Trading Corporation, has produced 75,000 quintals of flour in the current fiscal year. Of this, 54,000 quintals have been sold and 21,000 quintals are left, informed the Salt Trading Corporation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The stock of Salt Trading Corporation will not last for even a day if it is sold as per the market demand. However, the spokesperson of Salt Trading Corporation, Kumar Rajbhandari said that the flour is being sold in retail just to keep the uncontrolled price hike in in the market in check. Traders, however, claim that there is no shortage of flour and other commodities in the market even though the government does not have enough stock.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Pabitra Bajracharya, the outgoing president of the Retail Trade Association, remarked that if the current situation continues for a long time, the prices of biscuits, noodles, pasta and other commodities are likely to be affected. According to him, there is no probability of immediate price hike as retailers and wholesalers have stocks of old goods that can last for up to 2/3 months.</span></span></span></span></p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15049', 'image' => '20220520055604_Flour_AdobeStock_169806265_E.jpg', 'article_date' => '2022-05-20 17:55:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15306', 'article_category_id' => '1', 'title' => 'Price of Wheat Skyrocketing in International Market', 'sub_title' => '', 'summary' => 'May 20: As soon as the Indian government imposed a ban on the exports of wheat, its price skyrocketed in the international market.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: As soon as the Indian government imposed a ban on the exports of wheat, its price skyrocketed in the international market. Ironically, Nepali farmers were forced to sell wheat at cheaper rates when the price has been soaring worldwide. Due to the government's failure to announce support price at the right time and traders arbitrarily fixing the price for the farmers' produce, Nepali farmers were obliged to sell wheat at cheap prices even when prices were skyrocketing in the international market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India banned export of wheat last Friday. According to international media, the price of wheat went through the roof in the world market, marking an increase of 60 percent this year alone. According to the traders, the price of wheat flour even in India went up from Rs 2880 to Rs 3300 per quintal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">No matter how much the price goes up in the world market, Nepali farmers are still devoid from any benefits. Before the government fixed the support price, farmers in some districts of the Terai had already sold wheat at Rs 400 per quintal, which is lesser than the minimum support price set by the government. The government later fixed the support price of wheat at Rs 3,165 per quintal after much delay. However, farmers are not even able to get this price. Till date, farmers of Sunsari, Siraha, Rautahat and other districts are selling wheat at the rate of Rs 2,800 per quintal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhubaneswar Yadav, a representative farmer from Sunsari said, “The government does not buy wheat from these districts. Wheat that we sold to traders at Rs 2,800 is now being sold by traders at Rs 3,600 per quintal. Flour industrialists do not buy wheat directly from us, that is why we are forced to sit idly and watch all the profits reaped by the middlemen.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Farmers of Banke, Bardiya and Kailali have already sold wheat to traders at the rate of Rs 2,800 per quintal. After the farmers sold their produce, the Food Management and Trading Company of the government started buying wheat in those districts. Food procurement centers are deserted as farmers have already sold wheat. Sharmila Subedi, information officer of the state-owned company said that 112 quintals of wheat was purchased in Rajapur of Bardiya, besides which, other procurement centers could not buy wheat at all.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Another farmer Chandra Kant Yadav from Lahan said that he sold 25 quintals of wheat to local traders at the rate of Rs 2,800 per quintal. He expressed, “It is said that the prices have gone up now. We could not even sell at the rate fixed by the government. The Food Management and Trading Company started buying wheat only after we sold it. Now, it is the traders who make profit.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the stakeholders, farmers not getting a fair price for their produce has become a persistent problem. Chairman of the National Farmers' Commission, Dr. Prem Prasad Dangal, says that although the government implemented the concept of support price to prevent farmers from being cheated by traders, the government's weakness itself has posed a challenge to its implementation. “It is a shame that Nepali farmers have to sell their produce at lower rates when prices are rising in the international market,” said Dangal. </span></span></span></span></p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15048', 'image' => '20220520051031_Wheat_photo-cred-Adobe-stock_E-2.jpg', 'article_date' => '2022-05-20 17:09:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15305', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs of Chitwan Excited about the Prospects of 2 Days' Leave', 'sub_title' => '', 'summary' => 'May 20: Tourism entrepreneurs of Chitwan are excited after the government announced a public holiday on Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 20: Tourism entrepreneurs of Chitwan are excited after the government announced a public holiday on Sunday. Entrepreneurs are expecting that the number of domestic tourists will increase during the two consecutive days off.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The tourism entrepreneurs hope that the tourism sector, which has been weighed down by the Covid-19 infection, will return to normalcy. They had been demanding leave on Sunday after the number of tourists coming for one night's stay started increasing.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Local tourism entrepreneur Biplav Poudel said that they had been demanding two days' leave for better prospects of business.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Poudel, the manager of Hotel Barahi in Meghauli and Pokhara, said that the number of tourists will now increase in homestays as well as big hotels. "This will make the economy vibrant, '' he added.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Poudel believes that two days of holidays and fun would energize the workers for the rest of the week days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Deepak Bhattarai, president of the Regional Hotel Association Chitwan, said that the number of tourists used to increase by 50 % compared to other days in the past when there was a regular two-day holiday. "Compared to other days, the number of tourists increases on holidays. At the same time, when there are two days of holidays, the number of tourists is even more,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bhattarai said that he expects the tourism sector to be better than before with the two-day holiday. He informed New Business Age that there are positive signs soon after the leave started. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs expect this holiday to increase family travel. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gunaraj Thapaliya, general secretary of the regional hotel association, said that the number of people booking hotels through the telephone has started to increase. Situated in the centre of the country, it is easy to visit Sauraha from many neighbouring districts to spend a night in the wilderness.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">With the decline in the number of foreign tourists, the tourism sector here has been dependent on domestic tourists. Tourists mainly visit Pokhara, Lumbini, Chitwan, Kathmandu and other areas in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Director of Hotel Narayani Resort, Gaindakot, Basanta Parajuli said that the two-day leave will have a positive impact on the tourism sector. The trend of travelling with family increases during the holidays, he added. </span></span></span></span></p> <p><br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15047', 'image' => '20220520024257_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2022-05-20 14:42:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15304', 'article_category_id' => '1', 'title' => 'Finance Minister Absent during Pre-Budget Discussions ', 'sub_title' => '', 'summary' => 'May 20: With only nine days left for the budget announcement, discussions are underway in the parliament on the priorities and principles of the Appropriation Bill.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 20: With only nine days left for the budget announcement, discussions are underway in the parliament on the priorities and principles of the Appropriation Bill. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the absence of Finance Minister Janardan Sharma during the discussion has raised concerns that the suggestions made by the people’s representatives for the upcoming budget will be limited to the parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The members of parliament questioned the rationale behind the absence of the finance minister during the pre-budget discussion on Thursday. Terming the absence of the finance minister in the parliament as irresponsible, they drew the attention of the speaker. After the objection of the MPs, speaker Agni Prasad Sapkota directed the finance minister to attend the meeting. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma hadn’t stayed till the end during Wednesday’s meeting as well. Maoist MP Gajendra Bahadur Mahat, who was the last speaker on Wednesday, had queried about the finance minister after not seeing him in parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He was not present during the discussion on Thursday also. Chief Whip of the CPN-UML, Bishal Bhattarai said that the finance minister himself started the discussion on the principles and priorities of the budget but was not present during the discussion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Stating that his attention had been drawn to this issue, Speaker Agni Prasad Sapkota said, “As per sub-section 5 of section 6 of the Rules of Procedure of the House of Representatives 2075, I instruct the Honorable Minister of the concerned ministry to attend the meeting.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepali Congress MP and former Minister Dr Minendra Rijal said that it was disappointing that the finance minister and the officials were not present while the principles and priorities of the budget were being discussed in the parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dr Rijal commented that the structural problems in the economy have contributed to the non-spending of the capital budget. Keeping in view the priorities and principles of the Appropriation Bill, he said that the stakeholders, MPs, Ministry of Finance and others should make meaningful efforts to end the trend of non-spending of capital budget. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rijal said that food production should be increased within the country to reduce the pressure on the balance of payments, and clear policy arrangements should be made for the promotion of industries and businesses in public-private partnership. Furthermore, he said that the problems in the economy were not only due to the current government alone and urged not to forget the fact that foreign debt had increased due to the decisions taken by the then UML-led government. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15046', 'image' => '20220520010402_fin min sharma.jpg', 'article_date' => '2022-05-20 13:03:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15303', 'article_category_id' => '1', 'title' => 'Labour Permit Service goes Full-Scale Online from Today ', 'sub_title' => '', 'summary' => 'May 20: The Foreign Employment Office, Kathmandu has informed that it will launch online service for all kinds of labour permits from today (May 20).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 20: The Foreign Employment Office, Kathmandu has informed that it will launch online service for all kinds of labour permits from today (May 20). Now, anyone going abroad for foreign employment can take the labour permit through online system, the state-owned national news agency RSS reported. This will effectively end the need to physically visit the office to take labour permits. </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"">From now on, the new system will be applicable for both individual and institutional labour permits as well as renewal of labour permits. The Foreign Employment Office had started issuing institutional labour permits through online system almost a month ago. Similarly, renewal of labour permit through online system was initiated in January. </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 recent change in service delivery has largely reduced the number of service seekers who used to be present in large numbers at the office until some time ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Office chief Ramesh Aryal informed that the labour permit service has gone online as per directive of the Labour Ministry. Such decision was taken to facilitate both the service seekers and the service providers, said Aryal.</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 RSS, a total of 167,000 persons were provided labour permit during last fiscal year while more than half a million people have been granted labour permit in the first 10 months of the current fiscal year. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-05-20', 'modified' => '2022-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '15045', 'image' => '20220520082126_20211215023334_20200315123851_1111.jpg', 'article_date' => '2022-05-20 08:20:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15302', 'article_category_id' => '1', 'title' => 'Budget Always has the Same Principles and Priorities', 'sub_title' => '', 'summary' => 'May 19: Finance Minister Janardan Sharma on Tuesday presented the principles and priorities of the Appropriation Bill for the budget of the upcoming fiscal year in the federal parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 19: Finance Minister Janardan Sharma on Tuesday presented the principles and priorities of the Appropriation Bill for the budget of the upcoming fiscal year in the federal parliament. The principles and priorities that the government presents in parliament ahead of the budget as per the constitutional provision is always the same in nature every year. It is almost impossible to find something innovative and new in the principles and priorities for the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Appropriation Bill, 2079 BS is aimed at building a socialism-oriented, balanced, inclusive and self-reliant economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The budget for the upcoming fiscal year will focus on fulfilling the aspirations of the Nepali people for development and prosperity and laying the groundwork for a socialism-oriented economy. The flow of public services, transformation and construction of large infrastructure and government investment in the social sector will be increased,” reads the draft.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The budget proposal placed forth three years back by the then Finance Minister Yuba Raj Khatiwada under the government led by KP Sharma Oli also mentioned the same thing.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It stated, “The results of the momentous political change we have achieved are being reflected in the social transformation and economic development and the living standards of the people. The achievements we have achieved in a short period of time in the implementation of federalism have laid a solid foundation for good governance, development and prosperity. The budget for the coming fiscal year will be focused on moving forward as a socialism-oriented nation with social justice and high economic growth based on this foundation.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Analyzing the documents presented in parliament in the last few years, it is evident that the principles and priorities of the government is always the same despite change in government. However, those who run the state are yet to clarify how they will create a socialism-oriented economy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The priorities of the government for the budget of the upcoming fiscal year once again include development of agriculture sector, industrial development and promotion, development of energy sector, etc. These sated priorities are not new at all.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khatiwada's budget, which he presented in parliament three years ago, also had similar priorities. It read, “Significant advances will be made in formulating investment-friendly laws and structures, accelerating the upliftment of the poor, backward classes, regions and communities, increasing employment opportunities, social security for all, access to basic education and access to primary health care for all.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economist Keshav Acharya stated that usage of such repeated notions make it clear that the government makes such issues as a priority just for the sake of making announcements every year but fails to implement them each time. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, the government should not talk only about principles and priorities in the budget, but also state clearly on how they can be implemented. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The budget prioritizes health, education, employment, infrastructure, from a socialist-oriented economy. The state does not seem to be serious about how to achieve the goals set in those areas,” Acharya said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Even the leaders of the ruling parties are not satisfied with the priorities and principles of the budget presented by the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Prime Minister Baburam Bhattarai, leader and a member of the ruling coalition partner – Janata Samajwadi Party – remarked that the priorities and principles should not just be written on papers. According to him, the state should now be responsible for education, health, social security and large infrastructure, while the responsibilities for agriculture, industry, services and tourism should be given to the private sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN-UML leader Yogesh Bhattarai remarked that the principles and priorities of the Appropriation Bill lacked a base for advancing towards the path of socialism and neglected the aspects relating to strengthening public health and education. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He sought the government’s attention towards an increment of capital expenditure by minimizing a trade deficit. He was of the view of preventing a probable difficult situation for nation’s economy. He added that the bill did not seem giving priorities to the reduction of consumption of petroleum products and the promotion of the use of alternative energy. “Non-economic activities have increased, posing an additional challenge to the national economy.’’ </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15044', 'image' => '20220519054048_budget new.jpg', 'article_date' => '2022-05-19 17:39:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15299', 'article_category_id' => '1', 'title' => 'Share Transaction of 14 Companies on Hold due to Merger', 'sub_title' => '', 'summary' => 'May 19: Share trading of 14 companies has been halted due to the process of merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">May 19: Share trading of 14 companies has been halted due to the process of merger and acquisition. According to the Nepal Stock Exchange (NEPSE), the trading of shares of three commercial banks, five insurance companies, six microfinance companies, and two hydropower companies has been halted for the purpose of merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The three commercial banks are Nepal Investment Bank, Himalayan Bank and Nepal Bangladesh Bank. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of Nepal Investment Bank and Himalayan Bank has been suspended since 31st April 2021 because of the merger process. Although the merger between the two banks has broken down, the share trading is still suspended.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">NEPSE has stated that the share transaction has not be opened despite the breakdown of the merger between the two banks as they have not submitted written request in this regard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of Nepal Bangladesh Bank, which is being acquired by Nabil Bank, has also been suspended since December 12, 2021.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At this time, banks and financial institutions, insurance companies and the hydropower sector are going through mergers and acquisitions. Recently, five insurance companies have signed merger agreements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Everest Insurance and Himalayan General Insurance have agreed to merge in order to increase their paid-up capital.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of the two companies, which entered into a preliminary merger agreement on April 7, has been suspended since April 8. The largest merger agreement in the insurance sector has been reached between Union Life Insurance, Gurans Life Insurance and Prime Life Insurance.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Share trading of the three companies, which had signed a preliminary agreement on the merger on April 13, has been suspended since May 12 due to four consecutive days of public holiday. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from this, share trading of Nadep Microfinance, Andhikhola Microfinance, Ghodighoda Microfinance and Samaj Microfinance has also been blocked on the pretext of merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Investors have complained that mergers and acquisitions have hampered trading for a long time. Even after months of exiting the merger and acquisition process, the general investors’ assets seem to have been jeopardized by not opening the transaction.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ambika Prasad Poudel, president of the Federation of Nepalese Chambers of Commerce and Industry, Capital Market Forum, said that the investors who have always been supporting the merger and acquisition process have been hit the hardest at this time.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15041', 'image' => '20220519031228_Mergers-and-Acquisitions-Vietnam.jpg', 'article_date' => '2022-05-19 15:11:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15298', 'article_category_id' => '1', 'title' => 'Credit Flow and Deposit Collection of Banks Declining ', 'sub_title' => '', 'summary' => 'May 19: Credit flow and deposit collection of banks have been steadily declining. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">May 19: Credit flow and deposit collection of banks have been steadily declining. Banks have started reducing the credit flow as deposit collection in banks have not been able to rise amid the current liquidity crisis. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the Nepal Bankers’ Association, Rs 19 billion was withdrawn from commercial banks between mid-April and mid-May. The total deposits of commercial banks which stood at Rs 4.38 trillion by mid-April, has come down to Rs 4.37 as of mid-May. The association said that although there has been a slight improvement in deposits in late April, there has been a steady decline in deposits after that. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Local elections is believed to be the main reason for the decline in deposit collection of banks. Chairman of the Nepal Bankers' Association and Chief Executive Officer of the Agricultural Development Bank Anil Kumar Upadhyaya said that the money withdrawn from the banking system during the election will be returned to the system gradually. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Along with the deposit collection, the credit flow of the banks have also declined. The credit flow of the banks, which was Rs 4.197 trillion in mid-April, has dropped by Rs 6 billion to Rs Rs 4.191 trillion in mid-May. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The credit flow of the banks are stagnant at the moment as the credit-deposit (CD) ratio is high due to the liquidity crisis. Banks have disbursed only small loans that were already approved. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank has directed banks to maintain the CD ratio of 90 percent by mid-July. However, according to the data of the association, the CD ratio of only nine banks was within the prescribed ratio by the central bank. Besides, the CD ratio of more than a dozen banks is more than 91 percent and half a dozen banks is around 90 percent. The banks have started reducing credit flow to maintain the CD ratio. As per the NRB, the average CD ratio of banks till May 16 is 90.44 percent. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-05-19', 'modified' => '2022-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '15040', 'image' => '20220519011625_Banks - Copy.jpg', 'article_date' => '2022-05-19 13:15:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
