March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the…
March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the…
March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. …
March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount.…
March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking…
March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9).…
March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of…
March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March…
March 10: The Industry, Commerce, Labour and Consumer Committee of the House of Representatives has directed the government to control the price hike of petroleum…
March 10: The Ministry of Labour, Employment and Social Security has removed a labour desk set up at Tribhuvan International Airport (TIA).…
March 9: Tourist arrival in Nepal has been improving with the decline in Covid-19…
March 9: The US dollar’s rate has been rising steadily to reach an all-time high in Nepal.…
March 9: The government has said that it is doing its best on its part to ensure smooth operation of trade with China as soon as…
March 9: Ministry of Economic Affairs and Planning of Bagmati Province has earmarked a budget of Rs 40 million for the protection of the areas affected by the floods of Merlamchi and Indrawati…
March 9: The price of gold has reached an all-time high of Rs 105,500 per tola (11.66 grams) in the domestic market of Nepal on Wednesday (March…
March 8: With the government's policy of encouraging the iron rod industry to produce billets in the country itself, new steel industries have started opening while the old ones have been pouring more investment.…
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Speaking on the occasion, Minister Sharma said that the ministry is ready to provide necessary support if the board moves ahead for capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The board’s nature is to wait for investment and then act according to the demands of the investors. This nature of work will not be acceptable anymore,” said Minister Sharma, adding, "IBN should pay attention to investing in big projects by creating capital of its own. We can discuss how we can help set up such fund." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma, who is also the vice-chairperson of the board, advised the IBN to build capital fund for export-oriented projects by holding discussion with the private sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He urged the IBN to take initiative for the investment in projects capable of contributing significantly to the gross domestic project (GDP) and capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the Investment Board had presented work progress of Arun III Hydropower Project and its subordinate projects, Logistic Project, Kaptad Integrated Tourism Development Programme, Tamor Water Reservoir Hydropower Project, Upper Marsyangdi Hydropower Project, Vehicle Manufacturing and Assembling Plant and Huaxin Cement Project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Finance Minister Sharma expressed dissatisfaction over the non-implementation of Investment Board's decision of providing one-stop service to large foreign investors. He was of the view that all foreign investors must be treated equally. The Finance Minister insisted on doing away with the conventional development approach and moving ahead with new perspectives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">IBN Chief Executive Officer Sushil Bhatta highlighted the need of a policy-level decision to come up with special provisions regarding the selection of site for the construction of production-based industries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that although they received a proposal for establishing an automotive industry from a South Korean company, the project could not progress ahead due to the site selection issue. “Therefore, special provisions through policy-level decision are needed to establish industries through the board,” he concluded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14652', 'image' => '20220311125832_fin min sharma.jpg', 'article_date' => '2022-03-11 12:57:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14909', 'article_category_id' => '1', 'title' => 'Promotion of Small Industries Vital for Economic Stability: PM Deuba', 'sub_title' => '', 'summary' => 'March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prime minister was of the view that the country’s development cannot be realized unless such industries are promoted and developed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the 25th National General Convention of Nepal Federation of Small and Cottage Industries in Birgunj on Thursday, PM Deuba said that the government is ready to facilitate the development of small and cottage industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PM Deuba added that the government would take initiative to elevate the status of the small and cottage industries in the country which have been severely affected by the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic prosperity is possible only through sustainable development,” said PM Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to PM Deuba, the government is committed to revitalize the economy that has been battered by the Covid-19 crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There is no option but to step up national production to reduce the trade deficit,” he said, adding government is committed to promoting private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also stressed the need for collaboration between the federal, provincial and local levels to create employment opportunities for hundreds of thousands Nepalis within the country and to contribute to the gross domestic production. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14651', 'image' => '20220311115453_BKM_PARSA_PMDEUBA.jpg', 'article_date' => '2022-03-11 11:53:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14908', 'article_category_id' => '1', 'title' => 'Government Unable to Claim Rs 24 Billion from Donors due to its Own Weaknesses', 'sub_title' => '', 'summary' => 'March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. According to the Financial Comptroller General’s Office, the government is yet to receive almost Rs 25 billion pledged by the donors due to the incompetence of its mechanism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-February in the current fiscal year, the government is yet to receive refunds worth Rs 11.56 billion in grants and Rs 12.36 billion in loans from the donor agencies. The date of the Financial Comptroller General’s Office show that the government is yet to claim refunds of Rs 23.93 billion in total in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision for the government to seek refund from the donors and keep a record of the due amount. The government itself has to bear the cost of development projects built with donors’ assistance and later claim the refund from the donors. The amount refunded by the donors is deposited in the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Financial Comptroller General’s Office, the Ministry of Finance is yet to collect the maximum amount from the donors among all government bodies. It is yet to receive refund of Rs 15.91 billion. Likewise, the provincial governments are also yet to get refund of Rs 6.17 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision to reclaim the amount from the donors by filling up a form not later than 45 days. Those who do not seek the refund is subject to punishment, according to the work procedure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Looking at the figures of the last five years, there seems to have been an improvement in collection of dues from the donors. In fiscal year 2073/74, the government was yet to collect Rs 42.95 billion from the donors but this year such amount is Rs 23.93 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The donor agencies release the funds on the basis of the actual expenses incurred in the projects. However, they have been reluctant to release the amount because the government bodies do not show the actual expenses. However, there has been some improvement in such trend, says Deputy Financial Comptroller General Navaraj Dhungana.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Assistant Financial Comptroller General Krishna Prasad Acharya says that the situation seems to have improved because the donors provided more than the pledged amount during the Covid-19 pandemic. According to him, the problems in refund has surfaced because the donors were unable to monitor the projects and the works remained stalled resulting in the delay in claiming the refund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former secretary Kishor Thapa says that the government does not make the claims with audit report on time after the completion of the projects. Another problem, according to Thapa, is the appointment of new project chiefs frequently for development projects and the delay in completion of works. </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14650', 'image' => '20220310062541_BidKIr1CAAEJcjw.jpg', 'article_date' => '2022-03-10 18:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14907', 'article_category_id' => '1', 'title' => 'Government and NRB ‘Responsible’ for Liquidity Crisis ', 'sub_title' => '', 'summary' => 'March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at a program titled 'BizTalk' organised at Morang Trade Association on Tuesday, economist Dr Bhesh Prasad Dhamala said that the government was responsible for the brain drain which in turn was affecting production due to lack of manpower. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The rise in bank’s interest rates has affected production adversely," he said, adding, "The economic prosperity of the country cannot be achieved by forcing the country's skilled human resources to search for greener pastures abroad." He emphasized the need to reduce taxes and to discourage tax increment under new headings if the government is to keep the economy afloat. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Professor Dr PK Jha remarked that Nepal's economic policy is becoming tougher. Stating that most of the allocated budget is spent in unproductive sector, he opined that the government must step up investment in productive sector. Furthermore, he said that NRB was also to blame for the liquidity crisis in the market. Stating that entrepreneurship is the backbone of sustainable development, he said that entrepreneurship should be institutionalized using new technologies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The budget cannot be implemented in the right place just by shouting slogans, the budget must be fully implemented for the purpose it was announced," he said. Moreover, Dr Jha said that although the government was aware of the current situation of the industry, trade and business sector, it hasn’t done any concrete work for their revival. He stressed on the need for the government to formulate policies for the development of entrepreneurship in the interest of industrialists and traders. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Another economist Professor Dr Bedraj Acharya said that priority should be given to the use of raw materials based on local resources in order to utilize domestic funds within the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14649', 'image' => '20220310042841_1646860563.5.jpg', 'article_date' => '2022-03-10 16:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14905', 'article_category_id' => '1', 'title' => 'Price of Eggs Goes Up', 'sub_title' => '', 'summary' => 'March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). ', '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"">March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). The price of eggs has now increased to Rs 395 per crate for big-sized eggs and Rs 365 per crate for medium-sized eggs. Earlier, the price of big-sized egg was Rs 365 per crate and the price of medium-sized eggs was Rs 335 per crate. According to the increased price, the factory price per egg is Rs 13.16 but the consumer price has been fixed at Rs 16 per piece.</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 rising price of eggs consumed on a daily basis has benefited middlemen and traders more than the poultry farmers. Even though the price has gone up, the amount received by the farmers is only Rs 13.16 per egg. The consumer price has been fixed at Rs 16 by adding the transportation charge. </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"">Although the association has fixed the new retail price of Rs 16, the traders were found charging up to Rs 17 from the consumers when the gate price of eggs was Rs 12.16. Now that the association has set the consumer price at Rs 16, traders can charge consumers between Rs 18 to Rs 19.</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"">Chairman of the Nepal Egg Producers' Association Shivaram KC said that the price received by the farmers was not much more than their production cost. According to him, if the price is to be adjusted in such a way that the poultry farmers can make a profit, then the gate price of egg should be raised to Rs 15 which would increase the price of eggs to Rs 450 per crate.</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 association, the demand for eggs has increased in Nepal recently and the price had to be increased due to the decline in production. Apart from this, the association has said that the rise in price of raw material for poultry feed has affected the price of eggs. </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"">Earlier, 3.8 million eggs were produced per day in Nepal, but now the production has been reduced to 3.4 million, according to the association. Due to the increase in the price of grains, most of the farmers have not been able to raise chickens. The decline in poultry farming has led to a decline in production of eggs.</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 price of soybean, the main raw material of poultry feed, has gone up by Rs 55 per kg and maize by Rs 10 per kg in a year. Recently, Chinese businessmen have increased their consumption of raw materials including soybeans, which has led to shortage in other countries. Rabin Puri, president of the Grain Industries Association, said that the price may have gone up due to the same reason.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14648', 'image' => '20220310025726_egg.jpg', 'article_date' => '2022-03-10 14:56:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14906', 'article_category_id' => '1', 'title' => 'Entrepreneur Hira Lal Kedia No More', 'sub_title' => '', 'summary' => 'March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87. He died while undergoing treatment at HAMS Hospital in Kathmandu on Tuesday night, according to his nephew Pradip Kedia. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Kedia, who had been suffering from diabetes since a long time, was recently been diagnosed with pneumonia. Family members have stated that he died due to pneumonia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Late Kedia's body was brought to his hometown Birgunj on Wednesday. Nephew Pradip Kedia informed that the last rights of the dead body was to be performed in Bagmati of Sarlahi district on Wednesday (March 9) itself. Hira Lal Kedia had been leading the Kedia Organisation after the death of Shankar Lal Kedia, the founder of the business group.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from business, late Kedia was also active in social works. Social organizations and the state have also given various honors to Kedia for his contribution in the field of industry, trade and social services.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14647', 'image' => '20220310031230_17y - Copy.jpg', 'article_date' => '2022-03-10 15:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14904', 'article_category_id' => '1', 'title' => 'Price of Gold Drops by Rs 3,500 per 11 Grams Today', 'sub_title' => '', 'summary' => 'March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has been adjusted at Rs 102,000 on Thursday. The precious yellow metal was traded for Rs 105,500 per tola on Wednesday, which was an all-time highest price in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation the price of silver has decreased by Rs 45 per tola on Thursday as compared to the previous trading day. Silver is being traded for Rs 1,405 per tola as of March 10, stated the federation’s website. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14646', 'image' => '20220310011833_gold.jpg', 'article_date' => '2022-03-10 13:16:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14903', 'article_category_id' => '1', 'title' => 'House Panel Directs Government to Control Spiraling Fuel Price', 'sub_title' => '', 'summary' => 'March 10: The Industry, Commerce, Labour and Consumer Committee of the House of Representatives has directed the government to control the price hike of petroleum products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Industry, Commerce, Labour and Consumer Committee of the House of Representatives has directed the government to control the price hike of petroleum products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the lower house committee on Wednesday was focused on the issue of fuel price.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Bimal Prasad Shreevastav drew the attention of all stakeholders that the government’s decision to raise the price of fuel had affecated the general public. He said that the committee has directed the government to control the price hike and to make petroleum products easily available for the general public.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The committee has concluded that the consumers need to have easy access to petroleum products and the demands of Nepal Oil Corporation should also be addressed,” said chairperson Shreevastav, adding, “The committee has directed the concerned authorities to make fuel easily accessible to the people.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The house panel has concluded that the government must focus on controlling the price hike.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of petroleum products have reached an all-time high in Nepal after the Nepal Oil Corporation last week increased the fuel prices citing an increase in price of oil in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of petrol is currently Rs 150 per litre. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14645', 'image' => '20220310104720_Petrol-Price-Increase.jpg', 'article_date' => '2022-03-10 10:46:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14902', 'article_category_id' => '1', 'title' => 'Labour Desk Removed from TIA for Causing Nuisance to Migrant Workers', 'sub_title' => '', 'summary' => 'March 10: The Ministry of Labour, Employment and Social Security has removed a labour desk set up at Tribhuvan International Airport (TIA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Ministry of Labour, Employment and Social Security has removed a labour desk set up at Tribhuvan International Airport (TIA). The ministry decided to remove the desk following complaints that the officials deputed to the desk were creating unnecessary hassles for the Nepali migrant workers heading towards foreign countries for employment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister for Labour, Employment and Social Security Krishna Kumar Shreshta instructed the removal of the desk following complaints from the public. Minister Shrestha argued that the desk was not needed because there is already an online information system in practice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The labourers were complaining that the desk had been causing unnecessary trouble in the name of verifying the labour permit issued by the ministry itself. Minister Shrestha also expressed his commitment to resolve other problems faced by the migrant workers at the airport.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the migrant workers had to enter the airport from a separate entry point set up specifically for the labourers. Now, they can enter the airport from any entry point.</span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14644', 'image' => '20220310103122_20211202020506_2009-03_Kathmandu_10.jpg', 'article_date' => '2022-03-10 10:30:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14900', 'article_category_id' => '1', 'title' => 'Tourist Arrival in Nepal Starts Improving', 'sub_title' => '', 'summary' => 'March 9: Tourist arrival in Nepal has been improving with the decline in Covid-19 cases.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 9: Tourist arrival in Nepal has been improving with the decline in Covid-19 cases. The number of tourists visiting Nepal in January and February of 2022 has more than doubled compared to the corresponding period of 2021. According to the Nepal Tourism Board, 36,741 tourists have visited Nepal in the first two months of 2022, compared to 18,020 tourists in the same period last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Altogether 19,766 tourists visited Nepal in February. This is more than double the figure of 2021. In February last year, 9,146 tourists had visited Nepal. Similarly, 16,975 tourists visited Nepal in January. In the same month last year, 8,874 tourists had arrived in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the Covid-19 cases continue to decline, the tourism sector is returning to normalcy. Dhananjay Regmi, CEO of NTB, said that the number of tourists has been increasing in recent months. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the country needs to focus on tourism promotion programs targeting Indian tourissts and border areas rather than Europe and USA to increase the number of tourist.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regmi said that the board is preparing to run the 'Tourism Mart' by inviting journalists, businessmen and others from different cities of India. Accordingly, programs will be organized on March 10, 11, and 12 in Nepalgunj and on March 25, 26, and 27 in Dharan. According to the board, such programs will be held in Dhangadhi in April and Bhairahawa in May to promote tourism in the areas that share border with India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"We are especially targeting major Indian cities within 200 km of the Nepal-India border," said Regmi. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that Nepal's tourism would also be promoted in China through digital media. Tourism promotion and marketing would be done in physical form in other countries, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Binayak Shah, Senior Vice President of the Hotel Association of Nepal (HAN), said that the global tourism market would be competitive in the face of the declining Covid-19 cases. "Tourists still have to deal with PCR reports and quarantine when they come to Nepal," Shah said. "Unless there is a policy reform, tourist arrivals will be affected,” he added"</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that the entrepreneurs are creating new products and strategies in their way, he said that not only the entrepreneurs but also the government should formally invite tourists.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that Nepal is still in the 'red zone', Shah said, "The government should take initiative to remove it. It is necessary to formulate a clear line of action through coordination between the government and the business community." He stressed the need to bring a big program to help attract more tourists as they are interested in visiting Nepal and the number of bookings is also increasing. According to the board, 150,962 tourists had visited Nepal from different countries in 2021.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14643', 'image' => '20220309044358_Tourist.jpg', 'article_date' => '2022-03-09 16:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14899', 'article_category_id' => '1', 'title' => 'Dollar Rate Reaches All-Time High in Nepal ', 'sub_title' => '', 'summary' => 'March 9: The US dollar’s rate has been rising steadily to reach an all-time high in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 9: The US dollar’s rate has been rising steadily to reach an all-time high in Nepal. Prior to this, the highest rate of US dollar in Nepal (selling price) was Rs 123.28 on April 17, 2020. On March 8, 2022, the selling price of US dollar surpassed that mark to reach Rs 123.44. According to Nepal Rastra Bank, this is the all-time high price of US dollar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A large proportion of Nepal’s foreign trade is with India. As Nepal’s currency is pegged to India, it has a direct effect on Nepali rupee as the dollar depreciates in India. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the dollar’s rate increases, exports, tourism revenue and remittances increase. However, exports of goods from Nepal are low and the number of tourists has been declining in Nepal for the last two years due to Covid-19. Nepalis, who have gone for foreign employment are also sending less remittances recently. Former executive director of Nepal Rastra Bank Nara Bahadur Thapa said that this will create pressure on foreign exchange reserves. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Thapa, the budget deficit will increase due to the rise in the value of the dollar. “From Nepal's perspective, an increase in the rate of dollar will have a direct impact on the economy. This will increase the budget deficit as the interest on loans paid by the state will also increase,” said Thapa. As the dollar increases, the balance of payments and trade deficit also increase. According to Thapa, the cheaper the dollar, the better it will be for development works and to buy imported goods. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The raw materials used in Nepal's exports have to be imported in dollars from abroad. It is certain that the price of raw materials imported from abroad will increase now. However, the increase in value of dollar does not necessarily increase the price of imported goods all of a sudden.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Thapa said that the price hike would not have any immediate effect as the traders would now sell the goods they had bought before the rise in the rate of dollar. </span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14642', 'image' => '20220309021621_dolar.jpg', 'article_date' => '2022-03-09 14:14:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14898', 'article_category_id' => '1', 'title' => 'Government to Ensure Smooth Supply of Goods from China: Foreign Minister ', 'sub_title' => '', 'summary' => 'March 9: The government has said that it is doing its best on its part to ensure smooth operation of trade with China as soon as possible.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 9: The government has said that it is doing its best on its part to ensure smooth operation of trade with China as soon as possible. Foreign Minister Dr Narayan Khadka said before his Turkey visit that diplomatic initiatives are being taken with the Chinese side to increase the number of cargo vehicles into the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Minister Khadka, the government has repeatedly urged Beijing to find a solution to the problem, as trade with China has not been able to operate smoothly and the country has suffered financially while exports have been hampered. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign Minister Khadka said he had requested during telephone talks with his Chinese counterpart Wang Yi and other Chinese officials and the Chinese Ambassador to Nepal for effective operation of the trade gateway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a press conference organized on Monday for the first time since his assumption of office six months ago, Minister Khadka expressed confidence that China would accept Nepal's request and resolve the issue at the trade and transit point. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that there were some problems with major trade ports with China due to the COVID-19 pandemic and China responded positively to solve them, he said, "Direct contacts have been established between the local authorities of the two countries for smooth communication and coordination at the procedural level of import and export." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Khadka said that he had requested the Chinese side at all high-level meetings to assist in the supply of food in the border areas including Gorkha and to create an environment for Nepali students to return to China. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The press conference was organized on the eve of his visit to Turkey leading a Nepali delegation to attend the Antalya Diplomacy Forum to be held in Antalya of Turkey from 11-13 March.</span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14641', 'image' => '20220309105634_Tatopani.jpg', 'article_date' => '2022-03-09 10:55:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14897', 'article_category_id' => '1', 'title' => 'Rs 40 Million Allocated for Protection of Melamchi Flood-Ravaged Areas ', 'sub_title' => '', 'summary' => 'March 9: Ministry of Economic Affairs and Planning of Bagmati Province has earmarked a budget of Rs 40 million for the protection of the areas affected by the floods of Merlamchi and Indrawati rivers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 9: Ministry of Economic Affairs and Planning of Bagmati Province has earmarked a budget of Rs 40 million for the protection of the areas affected by the floods of Merlamchi and Indrawati rivers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry has approved 31 plans with a budget of Rs 4 million in the first phase under the Soil and Watershed Conservation Programme. </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"">Though the ministry has appropriated budget for 31 plans from Panchpokhari, Helambu to Dhandkhola, the provincial government is yet to release Rs 70 million required for the implementation of the plans. According to the province assembly member Yubaraj Dulal, the provincial government will approve and implement the plans within the current fiscal year.</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 provincial government allocated the budget for the conservation of the flood-ravaged areas on the initiative of province assembly member Dulal. </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 massive flooding that occurred in the Melamchi and Indrawati Rivers nine months ago had ravaged human settlements in Sindhupalchowk district. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14640', 'image' => '20220309104003_Emblem_of_Bagmati_Province.jpg', 'article_date' => '2022-03-09 10:39:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14901', 'article_category_id' => '1', 'title' => 'Gold Price Hits All-Time High of Rs 105,500 per Tola ', 'sub_title' => '', 'summary' => 'March 9: The price of gold has reached an all-time high of Rs 105,500 per tola (11.66 grams) in the domestic market of Nepal on Wednesday (March 9).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 9: The price of gold has reached an all-time high of Rs 105,500 per tola (11.66 grams) in the domestic market of Nepal on Wednesday (March 9). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold increased by Rs 2,500 per tola compared to the previous trading day. On Tuesday, the precious yellow metal was traded at Rs 103,000 per tola.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The price of silver also increased by Rs 40 per tola to reach Rs 1450, according to the website of the federation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gold is being traded at approximately US$ 2,050 per ounce in the international market on Wednesday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The last time when the price of gold crossed the mark of Rs 100,000 per tola in Nepal was during the outbreak of Covid-19.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that the Russian invasion of Ukraine has led to the skyrocketing price of gold as investors find the precious yellow metal a safe bet during current crisis when the global food prices have been rising and stock markets have been tumbling because of the war. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14639', 'image' => '20220309060734_20220307082414_gold1_1631507545558.jpg', 'article_date' => '2022-03-09 18:06:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14896', 'article_category_id' => '1', 'title' => 'Steel Industry Getting more Investment', 'sub_title' => '', 'summary' => 'March 8: With the government's policy of encouraging the iron rod industry to produce billets in the country itself, new steel industries have started opening while the old ones have been pouring more investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 8: With the government's policy of encouraging the iron rod industry to produce billets in the country itself, new steel industries have started opening while the old ones have been pouring more investment. A total of Rs 8.44 billion is being invested in a new steel industry and four such industries that are currently operational.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the government introduced zero tariff on import of sponge iron through the replacement bill, the investment will be added to the production of iron rods and construction materials in the current fiscal year (FY 2078/79). A new steel industry, Sarvottam Steels is opening soon and will produce billets and other materials, while four existing industries are adding huge investments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Industry, Kathmandu Steels, Swastik Rolling Mills, Premier Steel and Hulas Wire have taken permission to import sponge iron and increase investment in billet production. The department has given approval for the investment as well. These industries have been allowed to produce billets by importing raw materials like sponge iron, said Khagendra Bahadur Basnet, director of the department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said that there is an increase in the number of people seeking permission for investment and capacity expansion to produce billets during this period. According to the department, the new industry Sarvottam Steels is about to be established with the highest investment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Saurav Group is all set to operate the industry, which has already received approval for environmental impact assessment, with an investment of Rs 3.27 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The steel industry is about to be established on 15 bighas of land owned by the company in Maniyari of Birgunj Metropolitan City. The industry has been registered with the Department of Industry, with a proposal to produce 441,000 metric tons annually.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industry will give employment opportunity to 537 people. Among them, 200 will get employment during the construction of the industry and the rest will get employment during the operation phase of the industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industry will have open area, green garden, two open water storage tanks, storage area, vehicle parking lot. Two induction furnaces of 30 metric tons will be set up in the industry for the production of iron products. The company informed that the industry needs 2.5 MW of electricity for the production of steel products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Most of the industries licensed by the department are located in Sunsari district. Apart from Kathmandu Steels of Nawalparasi and Sarvottam of Parsa, three other industries are located in Sunsari district. According to the department, Swastik Rolling imported sponge iron and invested an additional Rs. 1.93 billion investment for production of billet and other products amounting to 0.13 million metric tons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Kathmandu Steels has set an annual production target of 0.177 million metric tons of billet and iron products and has already acquired permission for investment of Rs 1.39 billion. Also, Premier Steel has set an annual production target of 0.80 million metric tons and has also acquired permission for investment of Rs 1.14 billion from the department. In addition, Hulas Wire has set an annual production target of 0.112 million metric tons and is aiming to add Rs 670 million new investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data provided by the department, 31 iron rods and steel industries are in operation in the country as of 2078 BS. However, only 6 of these industries have been producing billets in the country using sponge iron and scrub. According to the department, the total annual capacity of the existing industry is about 3.6 million metric tons and the annual demand is about 1.2 million metric tons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal is self-sufficient in producing iron rods and iron-based construction materials. The government has recently reduced the customs duty on import of sponge iron to zero with the motive of producing billets in the country. It is also likely that there will be enough raw material in the country after the operation of Dhaubadi iron mine.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-08', 'modified' => '2022-03-08', 'keywords' => '', 'description' => '', 'sortorder' => '14638', 'image' => '20220308065922_1646715425.spanj_iron.jpg', 'article_date' => '2022-03-08 18:58:41', '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' => '14910', 'article_category_id' => '1', 'title' => 'Finance Minister Tells Investment Board to Creating its Own Fund for Big Projects', 'sub_title' => '', 'summary' => 'March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He made such remark during the seventh meeting of the Monitoring and Facilitation Committee of the IBN on Thursday (March 10). Speaking on the occasion, Minister Sharma said that the ministry is ready to provide necessary support if the board moves ahead for capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The board’s nature is to wait for investment and then act according to the demands of the investors. This nature of work will not be acceptable anymore,” said Minister Sharma, adding, "IBN should pay attention to investing in big projects by creating capital of its own. We can discuss how we can help set up such fund." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma, who is also the vice-chairperson of the board, advised the IBN to build capital fund for export-oriented projects by holding discussion with the private sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He urged the IBN to take initiative for the investment in projects capable of contributing significantly to the gross domestic project (GDP) and capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the Investment Board had presented work progress of Arun III Hydropower Project and its subordinate projects, Logistic Project, Kaptad Integrated Tourism Development Programme, Tamor Water Reservoir Hydropower Project, Upper Marsyangdi Hydropower Project, Vehicle Manufacturing and Assembling Plant and Huaxin Cement Project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Finance Minister Sharma expressed dissatisfaction over the non-implementation of Investment Board's decision of providing one-stop service to large foreign investors. He was of the view that all foreign investors must be treated equally. The Finance Minister insisted on doing away with the conventional development approach and moving ahead with new perspectives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">IBN Chief Executive Officer Sushil Bhatta highlighted the need of a policy-level decision to come up with special provisions regarding the selection of site for the construction of production-based industries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that although they received a proposal for establishing an automotive industry from a South Korean company, the project could not progress ahead due to the site selection issue. “Therefore, special provisions through policy-level decision are needed to establish industries through the board,” he concluded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14652', 'image' => '20220311125832_fin min sharma.jpg', 'article_date' => '2022-03-11 12:57:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14909', 'article_category_id' => '1', 'title' => 'Promotion of Small Industries Vital for Economic Stability: PM Deuba', 'sub_title' => '', 'summary' => 'March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prime minister was of the view that the country’s development cannot be realized unless such industries are promoted and developed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the 25th National General Convention of Nepal Federation of Small and Cottage Industries in Birgunj on Thursday, PM Deuba said that the government is ready to facilitate the development of small and cottage industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PM Deuba added that the government would take initiative to elevate the status of the small and cottage industries in the country which have been severely affected by the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic prosperity is possible only through sustainable development,” said PM Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to PM Deuba, the government is committed to revitalize the economy that has been battered by the Covid-19 crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There is no option but to step up national production to reduce the trade deficit,” he said, adding government is committed to promoting private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also stressed the need for collaboration between the federal, provincial and local levels to create employment opportunities for hundreds of thousands Nepalis within the country and to contribute to the gross domestic production. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14651', 'image' => '20220311115453_BKM_PARSA_PMDEUBA.jpg', 'article_date' => '2022-03-11 11:53:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14908', 'article_category_id' => '1', 'title' => 'Government Unable to Claim Rs 24 Billion from Donors due to its Own Weaknesses', 'sub_title' => '', 'summary' => 'March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. According to the Financial Comptroller General’s Office, the government is yet to receive almost Rs 25 billion pledged by the donors due to the incompetence of its mechanism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-February in the current fiscal year, the government is yet to receive refunds worth Rs 11.56 billion in grants and Rs 12.36 billion in loans from the donor agencies. The date of the Financial Comptroller General’s Office show that the government is yet to claim refunds of Rs 23.93 billion in total in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision for the government to seek refund from the donors and keep a record of the due amount. The government itself has to bear the cost of development projects built with donors’ assistance and later claim the refund from the donors. The amount refunded by the donors is deposited in the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Financial Comptroller General’s Office, the Ministry of Finance is yet to collect the maximum amount from the donors among all government bodies. It is yet to receive refund of Rs 15.91 billion. Likewise, the provincial governments are also yet to get refund of Rs 6.17 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision to reclaim the amount from the donors by filling up a form not later than 45 days. Those who do not seek the refund is subject to punishment, according to the work procedure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Looking at the figures of the last five years, there seems to have been an improvement in collection of dues from the donors. In fiscal year 2073/74, the government was yet to collect Rs 42.95 billion from the donors but this year such amount is Rs 23.93 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The donor agencies release the funds on the basis of the actual expenses incurred in the projects. However, they have been reluctant to release the amount because the government bodies do not show the actual expenses. However, there has been some improvement in such trend, says Deputy Financial Comptroller General Navaraj Dhungana.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Assistant Financial Comptroller General Krishna Prasad Acharya says that the situation seems to have improved because the donors provided more than the pledged amount during the Covid-19 pandemic. According to him, the problems in refund has surfaced because the donors were unable to monitor the projects and the works remained stalled resulting in the delay in claiming the refund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former secretary Kishor Thapa says that the government does not make the claims with audit report on time after the completion of the projects. Another problem, according to Thapa, is the appointment of new project chiefs frequently for development projects and the delay in completion of works. </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14650', 'image' => '20220310062541_BidKIr1CAAEJcjw.jpg', 'article_date' => '2022-03-10 18:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14907', 'article_category_id' => '1', 'title' => 'Government and NRB ‘Responsible’ for Liquidity Crisis ', 'sub_title' => '', 'summary' => 'March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at a program titled 'BizTalk' organised at Morang Trade Association on Tuesday, economist Dr Bhesh Prasad Dhamala said that the government was responsible for the brain drain which in turn was affecting production due to lack of manpower. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The rise in bank’s interest rates has affected production adversely," he said, adding, "The economic prosperity of the country cannot be achieved by forcing the country's skilled human resources to search for greener pastures abroad." He emphasized the need to reduce taxes and to discourage tax increment under new headings if the government is to keep the economy afloat. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Professor Dr PK Jha remarked that Nepal's economic policy is becoming tougher. Stating that most of the allocated budget is spent in unproductive sector, he opined that the government must step up investment in productive sector. Furthermore, he said that NRB was also to blame for the liquidity crisis in the market. Stating that entrepreneurship is the backbone of sustainable development, he said that entrepreneurship should be institutionalized using new technologies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The budget cannot be implemented in the right place just by shouting slogans, the budget must be fully implemented for the purpose it was announced," he said. Moreover, Dr Jha said that although the government was aware of the current situation of the industry, trade and business sector, it hasn’t done any concrete work for their revival. He stressed on the need for the government to formulate policies for the development of entrepreneurship in the interest of industrialists and traders. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Another economist Professor Dr Bedraj Acharya said that priority should be given to the use of raw materials based on local resources in order to utilize domestic funds within the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14649', 'image' => '20220310042841_1646860563.5.jpg', 'article_date' => '2022-03-10 16:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14905', 'article_category_id' => '1', 'title' => 'Price of Eggs Goes Up', 'sub_title' => '', 'summary' => 'March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). ', '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"">March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). The price of eggs has now increased to Rs 395 per crate for big-sized eggs and Rs 365 per crate for medium-sized eggs. Earlier, the price of big-sized egg was Rs 365 per crate and the price of medium-sized eggs was Rs 335 per crate. According to the increased price, the factory price per egg is Rs 13.16 but the consumer price has been fixed at Rs 16 per piece.</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 rising price of eggs consumed on a daily basis has benefited middlemen and traders more than the poultry farmers. Even though the price has gone up, the amount received by the farmers is only Rs 13.16 per egg. The consumer price has been fixed at Rs 16 by adding the transportation charge. </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"">Although the association has fixed the new retail price of Rs 16, the traders were found charging up to Rs 17 from the consumers when the gate price of eggs was Rs 12.16. Now that the association has set the consumer price at Rs 16, traders can charge consumers between Rs 18 to Rs 19.</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"">Chairman of the Nepal Egg Producers' Association Shivaram KC said that the price received by the farmers was not much more than their production cost. According to him, if the price is to be adjusted in such a way that the poultry farmers can make a profit, then the gate price of egg should be raised to Rs 15 which would increase the price of eggs to Rs 450 per crate.</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 association, the demand for eggs has increased in Nepal recently and the price had to be increased due to the decline in production. Apart from this, the association has said that the rise in price of raw material for poultry feed has affected the price of eggs. </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"">Earlier, 3.8 million eggs were produced per day in Nepal, but now the production has been reduced to 3.4 million, according to the association. Due to the increase in the price of grains, most of the farmers have not been able to raise chickens. The decline in poultry farming has led to a decline in production of eggs.</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 price of soybean, the main raw material of poultry feed, has gone up by Rs 55 per kg and maize by Rs 10 per kg in a year. Recently, Chinese businessmen have increased their consumption of raw materials including soybeans, which has led to shortage in other countries. Rabin Puri, president of the Grain Industries Association, said that the price may have gone up due to the same reason.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14648', 'image' => '20220310025726_egg.jpg', 'article_date' => '2022-03-10 14:56:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14906', 'article_category_id' => '1', 'title' => 'Entrepreneur Hira Lal Kedia No More', 'sub_title' => '', 'summary' => 'March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87. He died while undergoing treatment at HAMS Hospital in Kathmandu on Tuesday night, according to his nephew Pradip Kedia. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Kedia, who had been suffering from diabetes since a long time, was recently been diagnosed with pneumonia. Family members have stated that he died due to pneumonia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Late Kedia's body was brought to his hometown Birgunj on Wednesday. Nephew Pradip Kedia informed that the last rights of the dead body was to be performed in Bagmati of Sarlahi district on Wednesday (March 9) itself. Hira Lal Kedia had been leading the Kedia Organisation after the death of Shankar Lal Kedia, the founder of the business group.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from business, late Kedia was also active in social works. Social organizations and the state have also given various honors to Kedia for his contribution in the field of industry, trade and social services.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14647', 'image' => '20220310031230_17y - Copy.jpg', 'article_date' => '2022-03-10 15:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14904', 'article_category_id' => '1', 'title' => 'Price of Gold Drops by Rs 3,500 per 11 Grams Today', 'sub_title' => '', 'summary' => 'March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has been adjusted at Rs 102,000 on Thursday. The precious yellow metal was traded for Rs 105,500 per tola on Wednesday, which was an all-time highest price in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation the price of silver has decreased by Rs 45 per tola on Thursday as compared to the previous trading day. Silver is being traded for Rs 1,405 per tola as of March 10, stated the federation’s website. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14646', 'image' => '20220310011833_gold.jpg', 'article_date' => '2022-03-10 13:16:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14903', 'article_category_id' => '1', 'title' => 'House Panel Directs Government to Control Spiraling Fuel Price', 'sub_title' => '', 'summary' => 'March 10: The Industry, Commerce, Labour and Consumer Committee of the House of Representatives has directed the government to control the price hike of petroleum products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Industry, Commerce, Labour and Consumer Committee of the House of Representatives has directed the government to control the price hike of petroleum products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the lower house committee on Wednesday was focused on the issue of fuel price.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Bimal Prasad Shreevastav drew the attention of all stakeholders that the government’s decision to raise the price of fuel had affecated the general public. He said that the committee has directed the government to control the price hike and to make petroleum products easily available for the general public.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The committee has concluded that the consumers need to have easy access to petroleum products and the demands of Nepal Oil Corporation should also be addressed,” said chairperson Shreevastav, adding, “The committee has directed the concerned authorities to make fuel easily accessible to the people.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The house panel has concluded that the government must focus on controlling the price hike.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of petroleum products have reached an all-time high in Nepal after the Nepal Oil Corporation last week increased the fuel prices citing an increase in price of oil in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of petrol is currently Rs 150 per litre. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14645', 'image' => '20220310104720_Petrol-Price-Increase.jpg', 'article_date' => '2022-03-10 10:46:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14902', 'article_category_id' => '1', 'title' => 'Labour Desk Removed from TIA for Causing Nuisance to Migrant Workers', 'sub_title' => '', 'summary' => 'March 10: The Ministry of Labour, Employment and Social Security has removed a labour desk set up at Tribhuvan International Airport (TIA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Ministry of Labour, Employment and Social Security has removed a labour desk set up at Tribhuvan International Airport (TIA). The ministry decided to remove the desk following complaints that the officials deputed to the desk were creating unnecessary hassles for the Nepali migrant workers heading towards foreign countries for employment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister for Labour, Employment and Social Security Krishna Kumar Shreshta instructed the removal of the desk following complaints from the public. Minister Shrestha argued that the desk was not needed because there is already an online information system in practice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The labourers were complaining that the desk had been causing unnecessary trouble in the name of verifying the labour permit issued by the ministry itself. Minister Shrestha also expressed his commitment to resolve other problems faced by the migrant workers at the airport.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the migrant workers had to enter the airport from a separate entry point set up specifically for the labourers. Now, they can enter the airport from any entry point.</span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14644', 'image' => '20220310103122_20211202020506_2009-03_Kathmandu_10.jpg', 'article_date' => '2022-03-10 10:30:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14900', 'article_category_id' => '1', 'title' => 'Tourist Arrival in Nepal Starts Improving', 'sub_title' => '', 'summary' => 'March 9: Tourist arrival in Nepal has been improving with the decline in Covid-19 cases.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 9: Tourist arrival in Nepal has been improving with the decline in Covid-19 cases. The number of tourists visiting Nepal in January and February of 2022 has more than doubled compared to the corresponding period of 2021. According to the Nepal Tourism Board, 36,741 tourists have visited Nepal in the first two months of 2022, compared to 18,020 tourists in the same period last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Altogether 19,766 tourists visited Nepal in February. This is more than double the figure of 2021. In February last year, 9,146 tourists had visited Nepal. Similarly, 16,975 tourists visited Nepal in January. In the same month last year, 8,874 tourists had arrived in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the Covid-19 cases continue to decline, the tourism sector is returning to normalcy. Dhananjay Regmi, CEO of NTB, said that the number of tourists has been increasing in recent months. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the country needs to focus on tourism promotion programs targeting Indian tourissts and border areas rather than Europe and USA to increase the number of tourist.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regmi said that the board is preparing to run the 'Tourism Mart' by inviting journalists, businessmen and others from different cities of India. Accordingly, programs will be organized on March 10, 11, and 12 in Nepalgunj and on March 25, 26, and 27 in Dharan. According to the board, such programs will be held in Dhangadhi in April and Bhairahawa in May to promote tourism in the areas that share border with India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"We are especially targeting major Indian cities within 200 km of the Nepal-India border," said Regmi. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that Nepal's tourism would also be promoted in China through digital media. Tourism promotion and marketing would be done in physical form in other countries, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Binayak Shah, Senior Vice President of the Hotel Association of Nepal (HAN), said that the global tourism market would be competitive in the face of the declining Covid-19 cases. "Tourists still have to deal with PCR reports and quarantine when they come to Nepal," Shah said. "Unless there is a policy reform, tourist arrivals will be affected,” he added"</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that the entrepreneurs are creating new products and strategies in their way, he said that not only the entrepreneurs but also the government should formally invite tourists.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that Nepal is still in the 'red zone', Shah said, "The government should take initiative to remove it. It is necessary to formulate a clear line of action through coordination between the government and the business community." He stressed the need to bring a big program to help attract more tourists as they are interested in visiting Nepal and the number of bookings is also increasing. According to the board, 150,962 tourists had visited Nepal from different countries in 2021.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14643', 'image' => '20220309044358_Tourist.jpg', 'article_date' => '2022-03-09 16:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14899', 'article_category_id' => '1', 'title' => 'Dollar Rate Reaches All-Time High in Nepal ', 'sub_title' => '', 'summary' => 'March 9: The US dollar’s rate has been rising steadily to reach an all-time high in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 9: The US dollar’s rate has been rising steadily to reach an all-time high in Nepal. Prior to this, the highest rate of US dollar in Nepal (selling price) was Rs 123.28 on April 17, 2020. On March 8, 2022, the selling price of US dollar surpassed that mark to reach Rs 123.44. According to Nepal Rastra Bank, this is the all-time high price of US dollar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A large proportion of Nepal’s foreign trade is with India. As Nepal’s currency is pegged to India, it has a direct effect on Nepali rupee as the dollar depreciates in India. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the dollar’s rate increases, exports, tourism revenue and remittances increase. However, exports of goods from Nepal are low and the number of tourists has been declining in Nepal for the last two years due to Covid-19. Nepalis, who have gone for foreign employment are also sending less remittances recently. Former executive director of Nepal Rastra Bank Nara Bahadur Thapa said that this will create pressure on foreign exchange reserves. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Thapa, the budget deficit will increase due to the rise in the value of the dollar. “From Nepal's perspective, an increase in the rate of dollar will have a direct impact on the economy. This will increase the budget deficit as the interest on loans paid by the state will also increase,” said Thapa. As the dollar increases, the balance of payments and trade deficit also increase. According to Thapa, the cheaper the dollar, the better it will be for development works and to buy imported goods. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The raw materials used in Nepal's exports have to be imported in dollars from abroad. It is certain that the price of raw materials imported from abroad will increase now. However, the increase in value of dollar does not necessarily increase the price of imported goods all of a sudden.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Thapa said that the price hike would not have any immediate effect as the traders would now sell the goods they had bought before the rise in the rate of dollar. </span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14642', 'image' => '20220309021621_dolar.jpg', 'article_date' => '2022-03-09 14:14:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14898', 'article_category_id' => '1', 'title' => 'Government to Ensure Smooth Supply of Goods from China: Foreign Minister ', 'sub_title' => '', 'summary' => 'March 9: The government has said that it is doing its best on its part to ensure smooth operation of trade with China as soon as possible.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 9: The government has said that it is doing its best on its part to ensure smooth operation of trade with China as soon as possible. Foreign Minister Dr Narayan Khadka said before his Turkey visit that diplomatic initiatives are being taken with the Chinese side to increase the number of cargo vehicles into the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Minister Khadka, the government has repeatedly urged Beijing to find a solution to the problem, as trade with China has not been able to operate smoothly and the country has suffered financially while exports have been hampered. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign Minister Khadka said he had requested during telephone talks with his Chinese counterpart Wang Yi and other Chinese officials and the Chinese Ambassador to Nepal for effective operation of the trade gateway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a press conference organized on Monday for the first time since his assumption of office six months ago, Minister Khadka expressed confidence that China would accept Nepal's request and resolve the issue at the trade and transit point. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that there were some problems with major trade ports with China due to the COVID-19 pandemic and China responded positively to solve them, he said, "Direct contacts have been established between the local authorities of the two countries for smooth communication and coordination at the procedural level of import and export." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Khadka said that he had requested the Chinese side at all high-level meetings to assist in the supply of food in the border areas including Gorkha and to create an environment for Nepali students to return to China. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The press conference was organized on the eve of his visit to Turkey leading a Nepali delegation to attend the Antalya Diplomacy Forum to be held in Antalya of Turkey from 11-13 March.</span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14641', 'image' => '20220309105634_Tatopani.jpg', 'article_date' => '2022-03-09 10:55:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14897', 'article_category_id' => '1', 'title' => 'Rs 40 Million Allocated for Protection of Melamchi Flood-Ravaged Areas ', 'sub_title' => '', 'summary' => 'March 9: Ministry of Economic Affairs and Planning of Bagmati Province has earmarked a budget of Rs 40 million for the protection of the areas affected by the floods of Merlamchi and Indrawati rivers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 9: Ministry of Economic Affairs and Planning of Bagmati Province has earmarked a budget of Rs 40 million for the protection of the areas affected by the floods of Merlamchi and Indrawati rivers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry has approved 31 plans with a budget of Rs 4 million in the first phase under the Soil and Watershed Conservation Programme. </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"">Though the ministry has appropriated budget for 31 plans from Panchpokhari, Helambu to Dhandkhola, the provincial government is yet to release Rs 70 million required for the implementation of the plans. According to the province assembly member Yubaraj Dulal, the provincial government will approve and implement the plans within the current fiscal year.</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 provincial government allocated the budget for the conservation of the flood-ravaged areas on the initiative of province assembly member Dulal. </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 massive flooding that occurred in the Melamchi and Indrawati Rivers nine months ago had ravaged human settlements in Sindhupalchowk district. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14640', 'image' => '20220309104003_Emblem_of_Bagmati_Province.jpg', 'article_date' => '2022-03-09 10:39:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14901', 'article_category_id' => '1', 'title' => 'Gold Price Hits All-Time High of Rs 105,500 per Tola ', 'sub_title' => '', 'summary' => 'March 9: The price of gold has reached an all-time high of Rs 105,500 per tola (11.66 grams) in the domestic market of Nepal on Wednesday (March 9).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 9: The price of gold has reached an all-time high of Rs 105,500 per tola (11.66 grams) in the domestic market of Nepal on Wednesday (March 9). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold increased by Rs 2,500 per tola compared to the previous trading day. On Tuesday, the precious yellow metal was traded at Rs 103,000 per tola.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The price of silver also increased by Rs 40 per tola to reach Rs 1450, according to the website of the federation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gold is being traded at approximately US$ 2,050 per ounce in the international market on Wednesday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The last time when the price of gold crossed the mark of Rs 100,000 per tola in Nepal was during the outbreak of Covid-19.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that the Russian invasion of Ukraine has led to the skyrocketing price of gold as investors find the precious yellow metal a safe bet during current crisis when the global food prices have been rising and stock markets have been tumbling because of the war. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14639', 'image' => '20220309060734_20220307082414_gold1_1631507545558.jpg', 'article_date' => '2022-03-09 18:06:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14896', 'article_category_id' => '1', 'title' => 'Steel Industry Getting more Investment', 'sub_title' => '', 'summary' => 'March 8: With the government's policy of encouraging the iron rod industry to produce billets in the country itself, new steel industries have started opening while the old ones have been pouring more investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 8: With the government's policy of encouraging the iron rod industry to produce billets in the country itself, new steel industries have started opening while the old ones have been pouring more investment. A total of Rs 8.44 billion is being invested in a new steel industry and four such industries that are currently operational.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the government introduced zero tariff on import of sponge iron through the replacement bill, the investment will be added to the production of iron rods and construction materials in the current fiscal year (FY 2078/79). A new steel industry, Sarvottam Steels is opening soon and will produce billets and other materials, while four existing industries are adding huge investments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Industry, Kathmandu Steels, Swastik Rolling Mills, Premier Steel and Hulas Wire have taken permission to import sponge iron and increase investment in billet production. The department has given approval for the investment as well. These industries have been allowed to produce billets by importing raw materials like sponge iron, said Khagendra Bahadur Basnet, director of the department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said that there is an increase in the number of people seeking permission for investment and capacity expansion to produce billets during this period. According to the department, the new industry Sarvottam Steels is about to be established with the highest investment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Saurav Group is all set to operate the industry, which has already received approval for environmental impact assessment, with an investment of Rs 3.27 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The steel industry is about to be established on 15 bighas of land owned by the company in Maniyari of Birgunj Metropolitan City. The industry has been registered with the Department of Industry, with a proposal to produce 441,000 metric tons annually.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industry will give employment opportunity to 537 people. Among them, 200 will get employment during the construction of the industry and the rest will get employment during the operation phase of the industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industry will have open area, green garden, two open water storage tanks, storage area, vehicle parking lot. Two induction furnaces of 30 metric tons will be set up in the industry for the production of iron products. The company informed that the industry needs 2.5 MW of electricity for the production of steel products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Most of the industries licensed by the department are located in Sunsari district. Apart from Kathmandu Steels of Nawalparasi and Sarvottam of Parsa, three other industries are located in Sunsari district. According to the department, Swastik Rolling imported sponge iron and invested an additional Rs. 1.93 billion investment for production of billet and other products amounting to 0.13 million metric tons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Kathmandu Steels has set an annual production target of 0.177 million metric tons of billet and iron products and has already acquired permission for investment of Rs 1.39 billion. Also, Premier Steel has set an annual production target of 0.80 million metric tons and has also acquired permission for investment of Rs 1.14 billion from the department. In addition, Hulas Wire has set an annual production target of 0.112 million metric tons and is aiming to add Rs 670 million new investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data provided by the department, 31 iron rods and steel industries are in operation in the country as of 2078 BS. However, only 6 of these industries have been producing billets in the country using sponge iron and scrub. According to the department, the total annual capacity of the existing industry is about 3.6 million metric tons and the annual demand is about 1.2 million metric tons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal is self-sufficient in producing iron rods and iron-based construction materials. The government has recently reduced the customs duty on import of sponge iron to zero with the motive of producing billets in the country. It is also likely that there will be enough raw material in the country after the operation of Dhaubadi iron mine.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-08', 'modified' => '2022-03-08', 'keywords' => '', 'description' => '', 'sortorder' => '14638', 'image' => '20220308065922_1646715425.spanj_iron.jpg', 'article_date' => '2022-03-08 18:58:41', '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
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Speaking on the occasion, Minister Sharma said that the ministry is ready to provide necessary support if the board moves ahead for capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The board’s nature is to wait for investment and then act according to the demands of the investors. This nature of work will not be acceptable anymore,” said Minister Sharma, adding, "IBN should pay attention to investing in big projects by creating capital of its own. We can discuss how we can help set up such fund." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma, who is also the vice-chairperson of the board, advised the IBN to build capital fund for export-oriented projects by holding discussion with the private sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He urged the IBN to take initiative for the investment in projects capable of contributing significantly to the gross domestic project (GDP) and capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the Investment Board had presented work progress of Arun III Hydropower Project and its subordinate projects, Logistic Project, Kaptad Integrated Tourism Development Programme, Tamor Water Reservoir Hydropower Project, Upper Marsyangdi Hydropower Project, Vehicle Manufacturing and Assembling Plant and Huaxin Cement Project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Finance Minister Sharma expressed dissatisfaction over the non-implementation of Investment Board's decision of providing one-stop service to large foreign investors. He was of the view that all foreign investors must be treated equally. The Finance Minister insisted on doing away with the conventional development approach and moving ahead with new perspectives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">IBN Chief Executive Officer Sushil Bhatta highlighted the need of a policy-level decision to come up with special provisions regarding the selection of site for the construction of production-based industries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that although they received a proposal for establishing an automotive industry from a South Korean company, the project could not progress ahead due to the site selection issue. “Therefore, special provisions through policy-level decision are needed to establish industries through the board,” he concluded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14652', 'image' => '20220311125832_fin min sharma.jpg', 'article_date' => '2022-03-11 12:57:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14909', 'article_category_id' => '1', 'title' => 'Promotion of Small Industries Vital for Economic Stability: PM Deuba', 'sub_title' => '', 'summary' => 'March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prime minister was of the view that the country’s development cannot be realized unless such industries are promoted and developed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the 25th National General Convention of Nepal Federation of Small and Cottage Industries in Birgunj on Thursday, PM Deuba said that the government is ready to facilitate the development of small and cottage industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PM Deuba added that the government would take initiative to elevate the status of the small and cottage industries in the country which have been severely affected by the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic prosperity is possible only through sustainable development,” said PM Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to PM Deuba, the government is committed to revitalize the economy that has been battered by the Covid-19 crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There is no option but to step up national production to reduce the trade deficit,” he said, adding government is committed to promoting private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also stressed the need for collaboration between the federal, provincial and local levels to create employment opportunities for hundreds of thousands Nepalis within the country and to contribute to the gross domestic production. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14651', 'image' => '20220311115453_BKM_PARSA_PMDEUBA.jpg', 'article_date' => '2022-03-11 11:53:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14908', 'article_category_id' => '1', 'title' => 'Government Unable to Claim Rs 24 Billion from Donors due to its Own Weaknesses', 'sub_title' => '', 'summary' => 'March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. According to the Financial Comptroller General’s Office, the government is yet to receive almost Rs 25 billion pledged by the donors due to the incompetence of its mechanism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-February in the current fiscal year, the government is yet to receive refunds worth Rs 11.56 billion in grants and Rs 12.36 billion in loans from the donor agencies. The date of the Financial Comptroller General’s Office show that the government is yet to claim refunds of Rs 23.93 billion in total in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision for the government to seek refund from the donors and keep a record of the due amount. The government itself has to bear the cost of development projects built with donors’ assistance and later claim the refund from the donors. The amount refunded by the donors is deposited in the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Financial Comptroller General’s Office, the Ministry of Finance is yet to collect the maximum amount from the donors among all government bodies. It is yet to receive refund of Rs 15.91 billion. Likewise, the provincial governments are also yet to get refund of Rs 6.17 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision to reclaim the amount from the donors by filling up a form not later than 45 days. Those who do not seek the refund is subject to punishment, according to the work procedure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Looking at the figures of the last five years, there seems to have been an improvement in collection of dues from the donors. In fiscal year 2073/74, the government was yet to collect Rs 42.95 billion from the donors but this year such amount is Rs 23.93 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The donor agencies release the funds on the basis of the actual expenses incurred in the projects. However, they have been reluctant to release the amount because the government bodies do not show the actual expenses. However, there has been some improvement in such trend, says Deputy Financial Comptroller General Navaraj Dhungana.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Assistant Financial Comptroller General Krishna Prasad Acharya says that the situation seems to have improved because the donors provided more than the pledged amount during the Covid-19 pandemic. According to him, the problems in refund has surfaced because the donors were unable to monitor the projects and the works remained stalled resulting in the delay in claiming the refund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former secretary Kishor Thapa says that the government does not make the claims with audit report on time after the completion of the projects. Another problem, according to Thapa, is the appointment of new project chiefs frequently for development projects and the delay in completion of works. </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14650', 'image' => '20220310062541_BidKIr1CAAEJcjw.jpg', 'article_date' => '2022-03-10 18:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14907', 'article_category_id' => '1', 'title' => 'Government and NRB ‘Responsible’ for Liquidity Crisis ', 'sub_title' => '', 'summary' => 'March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at a program titled 'BizTalk' organised at Morang Trade Association on Tuesday, economist Dr Bhesh Prasad Dhamala said that the government was responsible for the brain drain which in turn was affecting production due to lack of manpower. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The rise in bank’s interest rates has affected production adversely," he said, adding, "The economic prosperity of the country cannot be achieved by forcing the country's skilled human resources to search for greener pastures abroad." He emphasized the need to reduce taxes and to discourage tax increment under new headings if the government is to keep the economy afloat. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Professor Dr PK Jha remarked that Nepal's economic policy is becoming tougher. Stating that most of the allocated budget is spent in unproductive sector, he opined that the government must step up investment in productive sector. Furthermore, he said that NRB was also to blame for the liquidity crisis in the market. Stating that entrepreneurship is the backbone of sustainable development, he said that entrepreneurship should be institutionalized using new technologies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The budget cannot be implemented in the right place just by shouting slogans, the budget must be fully implemented for the purpose it was announced," he said. Moreover, Dr Jha said that although the government was aware of the current situation of the industry, trade and business sector, it hasn’t done any concrete work for their revival. He stressed on the need for the government to formulate policies for the development of entrepreneurship in the interest of industrialists and traders. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Another economist Professor Dr Bedraj Acharya said that priority should be given to the use of raw materials based on local resources in order to utilize domestic funds within the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14649', 'image' => '20220310042841_1646860563.5.jpg', 'article_date' => '2022-03-10 16:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14905', 'article_category_id' => '1', 'title' => 'Price of Eggs Goes Up', 'sub_title' => '', 'summary' => 'March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). ', '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"">March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). The price of eggs has now increased to Rs 395 per crate for big-sized eggs and Rs 365 per crate for medium-sized eggs. Earlier, the price of big-sized egg was Rs 365 per crate and the price of medium-sized eggs was Rs 335 per crate. According to the increased price, the factory price per egg is Rs 13.16 but the consumer price has been fixed at Rs 16 per piece.</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 rising price of eggs consumed on a daily basis has benefited middlemen and traders more than the poultry farmers. Even though the price has gone up, the amount received by the farmers is only Rs 13.16 per egg. The consumer price has been fixed at Rs 16 by adding the transportation charge. </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"">Although the association has fixed the new retail price of Rs 16, the traders were found charging up to Rs 17 from the consumers when the gate price of eggs was Rs 12.16. Now that the association has set the consumer price at Rs 16, traders can charge consumers between Rs 18 to Rs 19.</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"">Chairman of the Nepal Egg Producers' Association Shivaram KC said that the price received by the farmers was not much more than their production cost. According to him, if the price is to be adjusted in such a way that the poultry farmers can make a profit, then the gate price of egg should be raised to Rs 15 which would increase the price of eggs to Rs 450 per crate.</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 association, the demand for eggs has increased in Nepal recently and the price had to be increased due to the decline in production. Apart from this, the association has said that the rise in price of raw material for poultry feed has affected the price of eggs. </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"">Earlier, 3.8 million eggs were produced per day in Nepal, but now the production has been reduced to 3.4 million, according to the association. Due to the increase in the price of grains, most of the farmers have not been able to raise chickens. The decline in poultry farming has led to a decline in production of eggs.</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 price of soybean, the main raw material of poultry feed, has gone up by Rs 55 per kg and maize by Rs 10 per kg in a year. Recently, Chinese businessmen have increased their consumption of raw materials including soybeans, which has led to shortage in other countries. Rabin Puri, president of the Grain Industries Association, said that the price may have gone up due to the same reason.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14648', 'image' => '20220310025726_egg.jpg', 'article_date' => '2022-03-10 14:56:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14906', 'article_category_id' => '1', 'title' => 'Entrepreneur Hira Lal Kedia No More', 'sub_title' => '', 'summary' => 'March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87. He died while undergoing treatment at HAMS Hospital in Kathmandu on Tuesday night, according to his nephew Pradip Kedia. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Kedia, who had been suffering from diabetes since a long time, was recently been diagnosed with pneumonia. Family members have stated that he died due to pneumonia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Late Kedia's body was brought to his hometown Birgunj on Wednesday. Nephew Pradip Kedia informed that the last rights of the dead body was to be performed in Bagmati of Sarlahi district on Wednesday (March 9) itself. Hira Lal Kedia had been leading the Kedia Organisation after the death of Shankar Lal Kedia, the founder of the business group.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from business, late Kedia was also active in social works. Social organizations and the state have also given various honors to Kedia for his contribution in the field of industry, trade and social services.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14647', 'image' => '20220310031230_17y - Copy.jpg', 'article_date' => '2022-03-10 15:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14904', 'article_category_id' => '1', 'title' => 'Price of Gold Drops by Rs 3,500 per 11 Grams Today', 'sub_title' => '', 'summary' => 'March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has been adjusted at Rs 102,000 on Thursday. The precious yellow metal was traded for Rs 105,500 per tola on Wednesday, which was an all-time highest price in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation the price of silver has decreased by Rs 45 per tola on Thursday as compared to the previous trading day. Silver is being traded for Rs 1,405 per tola as of March 10, stated the federation’s website. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14646', 'image' => '20220310011833_gold.jpg', 'article_date' => '2022-03-10 13:16:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14903', 'article_category_id' => '1', 'title' => 'House Panel Directs Government to Control Spiraling Fuel Price', 'sub_title' => '', 'summary' => 'March 10: The Industry, Commerce, Labour and Consumer Committee of the House of Representatives has directed the government to control the price hike of petroleum products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Industry, Commerce, Labour and Consumer Committee of the House of Representatives has directed the government to control the price hike of petroleum products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the lower house committee on Wednesday was focused on the issue of fuel price.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Bimal Prasad Shreevastav drew the attention of all stakeholders that the government’s decision to raise the price of fuel had affecated the general public. He said that the committee has directed the government to control the price hike and to make petroleum products easily available for the general public.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The committee has concluded that the consumers need to have easy access to petroleum products and the demands of Nepal Oil Corporation should also be addressed,” said chairperson Shreevastav, adding, “The committee has directed the concerned authorities to make fuel easily accessible to the people.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The house panel has concluded that the government must focus on controlling the price hike.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of petroleum products have reached an all-time high in Nepal after the Nepal Oil Corporation last week increased the fuel prices citing an increase in price of oil in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of petrol is currently Rs 150 per litre. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14645', 'image' => '20220310104720_Petrol-Price-Increase.jpg', 'article_date' => '2022-03-10 10:46:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14902', 'article_category_id' => '1', 'title' => 'Labour Desk Removed from TIA for Causing Nuisance to Migrant Workers', 'sub_title' => '', 'summary' => 'March 10: The Ministry of Labour, Employment and Social Security has removed a labour desk set up at Tribhuvan International Airport (TIA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Ministry of Labour, Employment and Social Security has removed a labour desk set up at Tribhuvan International Airport (TIA). The ministry decided to remove the desk following complaints that the officials deputed to the desk were creating unnecessary hassles for the Nepali migrant workers heading towards foreign countries for employment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister for Labour, Employment and Social Security Krishna Kumar Shreshta instructed the removal of the desk following complaints from the public. Minister Shrestha argued that the desk was not needed because there is already an online information system in practice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The labourers were complaining that the desk had been causing unnecessary trouble in the name of verifying the labour permit issued by the ministry itself. Minister Shrestha also expressed his commitment to resolve other problems faced by the migrant workers at the airport.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the migrant workers had to enter the airport from a separate entry point set up specifically for the labourers. Now, they can enter the airport from any entry point.</span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14644', 'image' => '20220310103122_20211202020506_2009-03_Kathmandu_10.jpg', 'article_date' => '2022-03-10 10:30:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14900', 'article_category_id' => '1', 'title' => 'Tourist Arrival in Nepal Starts Improving', 'sub_title' => '', 'summary' => 'March 9: Tourist arrival in Nepal has been improving with the decline in Covid-19 cases.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 9: Tourist arrival in Nepal has been improving with the decline in Covid-19 cases. The number of tourists visiting Nepal in January and February of 2022 has more than doubled compared to the corresponding period of 2021. According to the Nepal Tourism Board, 36,741 tourists have visited Nepal in the first two months of 2022, compared to 18,020 tourists in the same period last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Altogether 19,766 tourists visited Nepal in February. This is more than double the figure of 2021. In February last year, 9,146 tourists had visited Nepal. Similarly, 16,975 tourists visited Nepal in January. In the same month last year, 8,874 tourists had arrived in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the Covid-19 cases continue to decline, the tourism sector is returning to normalcy. Dhananjay Regmi, CEO of NTB, said that the number of tourists has been increasing in recent months. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the country needs to focus on tourism promotion programs targeting Indian tourissts and border areas rather than Europe and USA to increase the number of tourist.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regmi said that the board is preparing to run the 'Tourism Mart' by inviting journalists, businessmen and others from different cities of India. Accordingly, programs will be organized on March 10, 11, and 12 in Nepalgunj and on March 25, 26, and 27 in Dharan. According to the board, such programs will be held in Dhangadhi in April and Bhairahawa in May to promote tourism in the areas that share border with India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"We are especially targeting major Indian cities within 200 km of the Nepal-India border," said Regmi. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that Nepal's tourism would also be promoted in China through digital media. Tourism promotion and marketing would be done in physical form in other countries, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Binayak Shah, Senior Vice President of the Hotel Association of Nepal (HAN), said that the global tourism market would be competitive in the face of the declining Covid-19 cases. "Tourists still have to deal with PCR reports and quarantine when they come to Nepal," Shah said. "Unless there is a policy reform, tourist arrivals will be affected,” he added"</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that the entrepreneurs are creating new products and strategies in their way, he said that not only the entrepreneurs but also the government should formally invite tourists.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that Nepal is still in the 'red zone', Shah said, "The government should take initiative to remove it. It is necessary to formulate a clear line of action through coordination between the government and the business community." He stressed the need to bring a big program to help attract more tourists as they are interested in visiting Nepal and the number of bookings is also increasing. According to the board, 150,962 tourists had visited Nepal from different countries in 2021.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14643', 'image' => '20220309044358_Tourist.jpg', 'article_date' => '2022-03-09 16:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14899', 'article_category_id' => '1', 'title' => 'Dollar Rate Reaches All-Time High in Nepal ', 'sub_title' => '', 'summary' => 'March 9: The US dollar’s rate has been rising steadily to reach an all-time high in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 9: The US dollar’s rate has been rising steadily to reach an all-time high in Nepal. Prior to this, the highest rate of US dollar in Nepal (selling price) was Rs 123.28 on April 17, 2020. On March 8, 2022, the selling price of US dollar surpassed that mark to reach Rs 123.44. According to Nepal Rastra Bank, this is the all-time high price of US dollar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A large proportion of Nepal’s foreign trade is with India. As Nepal’s currency is pegged to India, it has a direct effect on Nepali rupee as the dollar depreciates in India. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the dollar’s rate increases, exports, tourism revenue and remittances increase. However, exports of goods from Nepal are low and the number of tourists has been declining in Nepal for the last two years due to Covid-19. Nepalis, who have gone for foreign employment are also sending less remittances recently. Former executive director of Nepal Rastra Bank Nara Bahadur Thapa said that this will create pressure on foreign exchange reserves. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Thapa, the budget deficit will increase due to the rise in the value of the dollar. “From Nepal's perspective, an increase in the rate of dollar will have a direct impact on the economy. This will increase the budget deficit as the interest on loans paid by the state will also increase,” said Thapa. As the dollar increases, the balance of payments and trade deficit also increase. According to Thapa, the cheaper the dollar, the better it will be for development works and to buy imported goods. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The raw materials used in Nepal's exports have to be imported in dollars from abroad. It is certain that the price of raw materials imported from abroad will increase now. However, the increase in value of dollar does not necessarily increase the price of imported goods all of a sudden.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Thapa said that the price hike would not have any immediate effect as the traders would now sell the goods they had bought before the rise in the rate of dollar. </span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14642', 'image' => '20220309021621_dolar.jpg', 'article_date' => '2022-03-09 14:14:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14898', 'article_category_id' => '1', 'title' => 'Government to Ensure Smooth Supply of Goods from China: Foreign Minister ', 'sub_title' => '', 'summary' => 'March 9: The government has said that it is doing its best on its part to ensure smooth operation of trade with China as soon as possible.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 9: The government has said that it is doing its best on its part to ensure smooth operation of trade with China as soon as possible. Foreign Minister Dr Narayan Khadka said before his Turkey visit that diplomatic initiatives are being taken with the Chinese side to increase the number of cargo vehicles into the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Minister Khadka, the government has repeatedly urged Beijing to find a solution to the problem, as trade with China has not been able to operate smoothly and the country has suffered financially while exports have been hampered. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign Minister Khadka said he had requested during telephone talks with his Chinese counterpart Wang Yi and other Chinese officials and the Chinese Ambassador to Nepal for effective operation of the trade gateway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a press conference organized on Monday for the first time since his assumption of office six months ago, Minister Khadka expressed confidence that China would accept Nepal's request and resolve the issue at the trade and transit point. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that there were some problems with major trade ports with China due to the COVID-19 pandemic and China responded positively to solve them, he said, "Direct contacts have been established between the local authorities of the two countries for smooth communication and coordination at the procedural level of import and export." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Khadka said that he had requested the Chinese side at all high-level meetings to assist in the supply of food in the border areas including Gorkha and to create an environment for Nepali students to return to China. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The press conference was organized on the eve of his visit to Turkey leading a Nepali delegation to attend the Antalya Diplomacy Forum to be held in Antalya of Turkey from 11-13 March.</span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14641', 'image' => '20220309105634_Tatopani.jpg', 'article_date' => '2022-03-09 10:55:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14897', 'article_category_id' => '1', 'title' => 'Rs 40 Million Allocated for Protection of Melamchi Flood-Ravaged Areas ', 'sub_title' => '', 'summary' => 'March 9: Ministry of Economic Affairs and Planning of Bagmati Province has earmarked a budget of Rs 40 million for the protection of the areas affected by the floods of Merlamchi and Indrawati rivers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 9: Ministry of Economic Affairs and Planning of Bagmati Province has earmarked a budget of Rs 40 million for the protection of the areas affected by the floods of Merlamchi and Indrawati rivers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry has approved 31 plans with a budget of Rs 4 million in the first phase under the Soil and Watershed Conservation Programme. </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"">Though the ministry has appropriated budget for 31 plans from Panchpokhari, Helambu to Dhandkhola, the provincial government is yet to release Rs 70 million required for the implementation of the plans. According to the province assembly member Yubaraj Dulal, the provincial government will approve and implement the plans within the current fiscal year.</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 provincial government allocated the budget for the conservation of the flood-ravaged areas on the initiative of province assembly member Dulal. </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 massive flooding that occurred in the Melamchi and Indrawati Rivers nine months ago had ravaged human settlements in Sindhupalchowk district. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14640', 'image' => '20220309104003_Emblem_of_Bagmati_Province.jpg', 'article_date' => '2022-03-09 10:39:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14901', 'article_category_id' => '1', 'title' => 'Gold Price Hits All-Time High of Rs 105,500 per Tola ', 'sub_title' => '', 'summary' => 'March 9: The price of gold has reached an all-time high of Rs 105,500 per tola (11.66 grams) in the domestic market of Nepal on Wednesday (March 9).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 9: The price of gold has reached an all-time high of Rs 105,500 per tola (11.66 grams) in the domestic market of Nepal on Wednesday (March 9). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold increased by Rs 2,500 per tola compared to the previous trading day. On Tuesday, the precious yellow metal was traded at Rs 103,000 per tola.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The price of silver also increased by Rs 40 per tola to reach Rs 1450, according to the website of the federation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gold is being traded at approximately US$ 2,050 per ounce in the international market on Wednesday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The last time when the price of gold crossed the mark of Rs 100,000 per tola in Nepal was during the outbreak of Covid-19.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that the Russian invasion of Ukraine has led to the skyrocketing price of gold as investors find the precious yellow metal a safe bet during current crisis when the global food prices have been rising and stock markets have been tumbling because of the war. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14639', 'image' => '20220309060734_20220307082414_gold1_1631507545558.jpg', 'article_date' => '2022-03-09 18:06:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14896', 'article_category_id' => '1', 'title' => 'Steel Industry Getting more Investment', 'sub_title' => '', 'summary' => 'March 8: With the government's policy of encouraging the iron rod industry to produce billets in the country itself, new steel industries have started opening while the old ones have been pouring more investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 8: With the government's policy of encouraging the iron rod industry to produce billets in the country itself, new steel industries have started opening while the old ones have been pouring more investment. A total of Rs 8.44 billion is being invested in a new steel industry and four such industries that are currently operational.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the government introduced zero tariff on import of sponge iron through the replacement bill, the investment will be added to the production of iron rods and construction materials in the current fiscal year (FY 2078/79). A new steel industry, Sarvottam Steels is opening soon and will produce billets and other materials, while four existing industries are adding huge investments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Industry, Kathmandu Steels, Swastik Rolling Mills, Premier Steel and Hulas Wire have taken permission to import sponge iron and increase investment in billet production. The department has given approval for the investment as well. These industries have been allowed to produce billets by importing raw materials like sponge iron, said Khagendra Bahadur Basnet, director of the department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said that there is an increase in the number of people seeking permission for investment and capacity expansion to produce billets during this period. According to the department, the new industry Sarvottam Steels is about to be established with the highest investment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Saurav Group is all set to operate the industry, which has already received approval for environmental impact assessment, with an investment of Rs 3.27 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The steel industry is about to be established on 15 bighas of land owned by the company in Maniyari of Birgunj Metropolitan City. The industry has been registered with the Department of Industry, with a proposal to produce 441,000 metric tons annually.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industry will give employment opportunity to 537 people. Among them, 200 will get employment during the construction of the industry and the rest will get employment during the operation phase of the industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industry will have open area, green garden, two open water storage tanks, storage area, vehicle parking lot. Two induction furnaces of 30 metric tons will be set up in the industry for the production of iron products. The company informed that the industry needs 2.5 MW of electricity for the production of steel products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Most of the industries licensed by the department are located in Sunsari district. Apart from Kathmandu Steels of Nawalparasi and Sarvottam of Parsa, three other industries are located in Sunsari district. According to the department, Swastik Rolling imported sponge iron and invested an additional Rs. 1.93 billion investment for production of billet and other products amounting to 0.13 million metric tons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Kathmandu Steels has set an annual production target of 0.177 million metric tons of billet and iron products and has already acquired permission for investment of Rs 1.39 billion. Also, Premier Steel has set an annual production target of 0.80 million metric tons and has also acquired permission for investment of Rs 1.14 billion from the department. In addition, Hulas Wire has set an annual production target of 0.112 million metric tons and is aiming to add Rs 670 million new investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data provided by the department, 31 iron rods and steel industries are in operation in the country as of 2078 BS. However, only 6 of these industries have been producing billets in the country using sponge iron and scrub. According to the department, the total annual capacity of the existing industry is about 3.6 million metric tons and the annual demand is about 1.2 million metric tons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal is self-sufficient in producing iron rods and iron-based construction materials. The government has recently reduced the customs duty on import of sponge iron to zero with the motive of producing billets in the country. It is also likely that there will be enough raw material in the country after the operation of Dhaubadi iron mine.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-08', 'modified' => '2022-03-08', 'keywords' => '', 'description' => '', 'sortorder' => '14638', 'image' => '20220308065922_1646715425.spanj_iron.jpg', 'article_date' => '2022-03-08 18:58:41', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14910', 'article_category_id' => '1', 'title' => 'Finance Minister Tells Investment Board to Creating its Own Fund for Big Projects', 'sub_title' => '', 'summary' => 'March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 11: Finance Minister Janardan Sharma has directed the Investment Board Nepal (IBN) to initiate big projects by creating capital within the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He made such remark during the seventh meeting of the Monitoring and Facilitation Committee of the IBN on Thursday (March 10). Speaking on the occasion, Minister Sharma said that the ministry is ready to provide necessary support if the board moves ahead for capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“The board’s nature is to wait for investment and then act according to the demands of the investors. This nature of work will not be acceptable anymore,” said Minister Sharma, adding, "IBN should pay attention to investing in big projects by creating capital of its own. We can discuss how we can help set up such fund." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma, who is also the vice-chairperson of the board, advised the IBN to build capital fund for export-oriented projects by holding discussion with the private sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He urged the IBN to take initiative for the investment in projects capable of contributing significantly to the gross domestic project (GDP) and capital formation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the Investment Board had presented work progress of Arun III Hydropower Project and its subordinate projects, Logistic Project, Kaptad Integrated Tourism Development Programme, Tamor Water Reservoir Hydropower Project, Upper Marsyangdi Hydropower Project, Vehicle Manufacturing and Assembling Plant and Huaxin Cement Project. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the Finance Minister Sharma expressed dissatisfaction over the non-implementation of Investment Board's decision of providing one-stop service to large foreign investors. He was of the view that all foreign investors must be treated equally. The Finance Minister insisted on doing away with the conventional development approach and moving ahead with new perspectives. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">IBN Chief Executive Officer Sushil Bhatta highlighted the need of a policy-level decision to come up with special provisions regarding the selection of site for the construction of production-based industries. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">He said that although they received a proposal for establishing an automotive industry from a South Korean company, the project could not progress ahead due to the site selection issue. “Therefore, special provisions through policy-level decision are needed to establish industries through the board,” he concluded. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14652', 'image' => '20220311125832_fin min sharma.jpg', 'article_date' => '2022-03-11 12:57:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14909', 'article_category_id' => '1', 'title' => 'Promotion of Small Industries Vital for Economic Stability: PM Deuba', 'sub_title' => '', 'summary' => 'March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The prime minister was of the view that the country’s development cannot be realized unless such industries are promoted and developed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the inauguration of the 25th National General Convention of Nepal Federation of Small and Cottage Industries in Birgunj on Thursday, PM Deuba said that the government is ready to facilitate the development of small and cottage industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">PM Deuba added that the government would take initiative to elevate the status of the small and cottage industries in the country which have been severely affected by the COVID-19 pandemic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Economic prosperity is possible only through sustainable development,” said PM Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to PM Deuba, the government is committed to revitalize the economy that has been battered by the Covid-19 crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“There is no option but to step up national production to reduce the trade deficit,” he said, adding government is committed to promoting private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also stressed the need for collaboration between the federal, provincial and local levels to create employment opportunities for hundreds of thousands Nepalis within the country and to contribute to the gross domestic production. </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14651', 'image' => '20220311115453_BKM_PARSA_PMDEUBA.jpg', 'article_date' => '2022-03-11 11:53:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14908', 'article_category_id' => '1', 'title' => 'Government Unable to Claim Rs 24 Billion from Donors due to its Own Weaknesses', 'sub_title' => '', 'summary' => 'March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The government not been able to receive financial support pledged by various donor agencies due to its failure to complete the development works and other related processes to claim the amount. According to the Financial Comptroller General’s Office, the government is yet to receive almost Rs 25 billion pledged by the donors due to the incompetence of its mechanism.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-February in the current fiscal year, the government is yet to receive refunds worth Rs 11.56 billion in grants and Rs 12.36 billion in loans from the donor agencies. The date of the Financial Comptroller General’s Office show that the government is yet to claim refunds of Rs 23.93 billion in total in the current fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision for the government to seek refund from the donors and keep a record of the due amount. The government itself has to bear the cost of development projects built with donors’ assistance and later claim the refund from the donors. The amount refunded by the donors is deposited in the state coffers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Financial Comptroller General’s Office, the Ministry of Finance is yet to collect the maximum amount from the donors among all government bodies. It is yet to receive refund of Rs 15.91 billion. Likewise, the provincial governments are also yet to get refund of Rs 6.17 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The financial work procedure has a provision to reclaim the amount from the donors by filling up a form not later than 45 days. Those who do not seek the refund is subject to punishment, according to the work procedure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Looking at the figures of the last five years, there seems to have been an improvement in collection of dues from the donors. In fiscal year 2073/74, the government was yet to collect Rs 42.95 billion from the donors but this year such amount is Rs 23.93 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The donor agencies release the funds on the basis of the actual expenses incurred in the projects. However, they have been reluctant to release the amount because the government bodies do not show the actual expenses. However, there has been some improvement in such trend, says Deputy Financial Comptroller General Navaraj Dhungana.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Assistant Financial Comptroller General Krishna Prasad Acharya says that the situation seems to have improved because the donors provided more than the pledged amount during the Covid-19 pandemic. According to him, the problems in refund has surfaced because the donors were unable to monitor the projects and the works remained stalled resulting in the delay in claiming the refund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former secretary Kishor Thapa says that the government does not make the claims with audit report on time after the completion of the projects. Another problem, according to Thapa, is the appointment of new project chiefs frequently for development projects and the delay in completion of works. </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14650', 'image' => '20220310062541_BidKIr1CAAEJcjw.jpg', 'article_date' => '2022-03-10 18:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14907', 'article_category_id' => '1', 'title' => 'Government and NRB ‘Responsible’ for Liquidity Crisis ', 'sub_title' => '', 'summary' => 'March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 10: Economists have pointed out that the short-sighted policy of the government and Nepal Rastra Bank is the main reason for the liquidity crisis in the banking system. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Speaking at a program titled 'BizTalk' organised at Morang Trade Association on Tuesday, economist Dr Bhesh Prasad Dhamala said that the government was responsible for the brain drain which in turn was affecting production due to lack of manpower. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The rise in bank’s interest rates has affected production adversely," he said, adding, "The economic prosperity of the country cannot be achieved by forcing the country's skilled human resources to search for greener pastures abroad." He emphasized the need to reduce taxes and to discourage tax increment under new headings if the government is to keep the economy afloat. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Professor Dr PK Jha remarked that Nepal's economic policy is becoming tougher. Stating that most of the allocated budget is spent in unproductive sector, he opined that the government must step up investment in productive sector. Furthermore, he said that NRB was also to blame for the liquidity crisis in the market. Stating that entrepreneurship is the backbone of sustainable development, he said that entrepreneurship should be institutionalized using new technologies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The budget cannot be implemented in the right place just by shouting slogans, the budget must be fully implemented for the purpose it was announced," he said. Moreover, Dr Jha said that although the government was aware of the current situation of the industry, trade and business sector, it hasn’t done any concrete work for their revival. He stressed on the need for the government to formulate policies for the development of entrepreneurship in the interest of industrialists and traders. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Another economist Professor Dr Bedraj Acharya said that priority should be given to the use of raw materials based on local resources in order to utilize domestic funds within the country. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14649', 'image' => '20220310042841_1646860563.5.jpg', 'article_date' => '2022-03-10 16:28:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14905', 'article_category_id' => '1', 'title' => 'Price of Eggs Goes Up', 'sub_title' => '', 'summary' => 'March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). ', '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"">March 10: Nepal Egg Producers’ Association has increased the price of eggs effective from Wednesday (March 9). The price of eggs has now increased to Rs 395 per crate for big-sized eggs and Rs 365 per crate for medium-sized eggs. Earlier, the price of big-sized egg was Rs 365 per crate and the price of medium-sized eggs was Rs 335 per crate. According to the increased price, the factory price per egg is Rs 13.16 but the consumer price has been fixed at Rs 16 per piece.</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 rising price of eggs consumed on a daily basis has benefited middlemen and traders more than the poultry farmers. Even though the price has gone up, the amount received by the farmers is only Rs 13.16 per egg. The consumer price has been fixed at Rs 16 by adding the transportation charge. </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"">Although the association has fixed the new retail price of Rs 16, the traders were found charging up to Rs 17 from the consumers when the gate price of eggs was Rs 12.16. Now that the association has set the consumer price at Rs 16, traders can charge consumers between Rs 18 to Rs 19.</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"">Chairman of the Nepal Egg Producers' Association Shivaram KC said that the price received by the farmers was not much more than their production cost. According to him, if the price is to be adjusted in such a way that the poultry farmers can make a profit, then the gate price of egg should be raised to Rs 15 which would increase the price of eggs to Rs 450 per crate.</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 association, the demand for eggs has increased in Nepal recently and the price had to be increased due to the decline in production. Apart from this, the association has said that the rise in price of raw material for poultry feed has affected the price of eggs. </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"">Earlier, 3.8 million eggs were produced per day in Nepal, but now the production has been reduced to 3.4 million, according to the association. Due to the increase in the price of grains, most of the farmers have not been able to raise chickens. The decline in poultry farming has led to a decline in production of eggs.</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 price of soybean, the main raw material of poultry feed, has gone up by Rs 55 per kg and maize by Rs 10 per kg in a year. Recently, Chinese businessmen have increased their consumption of raw materials including soybeans, which has led to shortage in other countries. Rabin Puri, president of the Grain Industries Association, said that the price may have gone up due to the same reason.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14648', 'image' => '20220310025726_egg.jpg', 'article_date' => '2022-03-10 14:56:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14906', 'article_category_id' => '1', 'title' => 'Entrepreneur Hira Lal Kedia No More', 'sub_title' => '', 'summary' => 'March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 10: Chairman of Kedia Organization Hira Lal Kedia has passed away at the age of 87. He died while undergoing treatment at HAMS Hospital in Kathmandu on Tuesday night, according to his nephew Pradip Kedia. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Kedia, who had been suffering from diabetes since a long time, was recently been diagnosed with pneumonia. Family members have stated that he died due to pneumonia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Late Kedia's body was brought to his hometown Birgunj on Wednesday. Nephew Pradip Kedia informed that the last rights of the dead body was to be performed in Bagmati of Sarlahi district on Wednesday (March 9) itself. Hira Lal Kedia had been leading the Kedia Organisation after the death of Shankar Lal Kedia, the founder of the business group.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Apart from business, late Kedia was also active in social works. Social organizations and the state have also given various honors to Kedia for his contribution in the field of industry, trade and social services.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14647', 'image' => '20220310031230_17y - Copy.jpg', 'article_date' => '2022-03-10 15:10:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14904', 'article_category_id' => '1', 'title' => 'Price of Gold Drops by Rs 3,500 per 11 Grams Today', 'sub_title' => '', 'summary' => 'March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 10: The price of gold has dropped by Rs 3,500 per tola (11.66 grams) in the domestic market of Nepal today (March 10). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has been adjusted at Rs 102,000 on Thursday. The precious yellow metal was traded for Rs 105,500 per tola on Wednesday, which was an all-time highest price in the domestic market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the federation the price of silver has decreased by Rs 45 per tola on Thursday as compared to the previous trading day. Silver is being traded for Rs 1,405 per tola as of March 10, stated the federation’s website. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14646', 'image' => '20220310011833_gold.jpg', 'article_date' => '2022-03-10 13:16:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14903', 'article_category_id' => '1', 'title' => 'House Panel Directs Government to Control Spiraling Fuel Price', 'sub_title' => '', 'summary' => 'March 10: The Industry, Commerce, Labour and Consumer Committee of the House of Representatives has directed the government to control the price hike of petroleum products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Industry, Commerce, Labour and Consumer Committee of the House of Representatives has directed the government to control the price hike of petroleum products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the lower house committee on Wednesday was focused on the issue of fuel price.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairperson of the committee Bimal Prasad Shreevastav drew the attention of all stakeholders that the government’s decision to raise the price of fuel had affecated the general public. He said that the committee has directed the government to control the price hike and to make petroleum products easily available for the general public.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The committee has concluded that the consumers need to have easy access to petroleum products and the demands of Nepal Oil Corporation should also be addressed,” said chairperson Shreevastav, adding, “The committee has directed the concerned authorities to make fuel easily accessible to the people.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The house panel has concluded that the government must focus on controlling the price hike.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of petroleum products have reached an all-time high in Nepal after the Nepal Oil Corporation last week increased the fuel prices citing an increase in price of oil in the international market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The price of petrol is currently Rs 150 per litre. </span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14645', 'image' => '20220310104720_Petrol-Price-Increase.jpg', 'article_date' => '2022-03-10 10:46:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14902', 'article_category_id' => '1', 'title' => 'Labour Desk Removed from TIA for Causing Nuisance to Migrant Workers', 'sub_title' => '', 'summary' => 'March 10: The Ministry of Labour, Employment and Social Security has removed a labour desk set up at Tribhuvan International Airport (TIA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Ministry of Labour, Employment and Social Security has removed a labour desk set up at Tribhuvan International Airport (TIA). The ministry decided to remove the desk following complaints that the officials deputed to the desk were creating unnecessary hassles for the Nepali migrant workers heading towards foreign countries for employment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister for Labour, Employment and Social Security Krishna Kumar Shreshta instructed the removal of the desk following complaints from the public. Minister Shrestha argued that the desk was not needed because there is already an online information system in practice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The labourers were complaining that the desk had been causing unnecessary trouble in the name of verifying the labour permit issued by the ministry itself. Minister Shrestha also expressed his commitment to resolve other problems faced by the migrant workers at the airport.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the migrant workers had to enter the airport from a separate entry point set up specifically for the labourers. Now, they can enter the airport from any entry point.</span></span></p> ', 'published' => true, 'created' => '2022-03-10', 'modified' => '2022-03-10', 'keywords' => '', 'description' => '', 'sortorder' => '14644', 'image' => '20220310103122_20211202020506_2009-03_Kathmandu_10.jpg', 'article_date' => '2022-03-10 10:30:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14900', 'article_category_id' => '1', 'title' => 'Tourist Arrival in Nepal Starts Improving', 'sub_title' => '', 'summary' => 'March 9: Tourist arrival in Nepal has been improving with the decline in Covid-19 cases.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 9: Tourist arrival in Nepal has been improving with the decline in Covid-19 cases. The number of tourists visiting Nepal in January and February of 2022 has more than doubled compared to the corresponding period of 2021. According to the Nepal Tourism Board, 36,741 tourists have visited Nepal in the first two months of 2022, compared to 18,020 tourists in the same period last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Altogether 19,766 tourists visited Nepal in February. This is more than double the figure of 2021. In February last year, 9,146 tourists had visited Nepal. Similarly, 16,975 tourists visited Nepal in January. In the same month last year, 8,874 tourists had arrived in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the Covid-19 cases continue to decline, the tourism sector is returning to normalcy. Dhananjay Regmi, CEO of NTB, said that the number of tourists has been increasing in recent months. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the country needs to focus on tourism promotion programs targeting Indian tourissts and border areas rather than Europe and USA to increase the number of tourist.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Regmi said that the board is preparing to run the 'Tourism Mart' by inviting journalists, businessmen and others from different cities of India. Accordingly, programs will be organized on March 10, 11, and 12 in Nepalgunj and on March 25, 26, and 27 in Dharan. According to the board, such programs will be held in Dhangadhi in April and Bhairahawa in May to promote tourism in the areas that share border with India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"We are especially targeting major Indian cities within 200 km of the Nepal-India border," said Regmi. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that Nepal's tourism would also be promoted in China through digital media. Tourism promotion and marketing would be done in physical form in other countries, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Binayak Shah, Senior Vice President of the Hotel Association of Nepal (HAN), said that the global tourism market would be competitive in the face of the declining Covid-19 cases. "Tourists still have to deal with PCR reports and quarantine when they come to Nepal," Shah said. "Unless there is a policy reform, tourist arrivals will be affected,” he added"</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that the entrepreneurs are creating new products and strategies in their way, he said that not only the entrepreneurs but also the government should formally invite tourists.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that Nepal is still in the 'red zone', Shah said, "The government should take initiative to remove it. It is necessary to formulate a clear line of action through coordination between the government and the business community." He stressed the need to bring a big program to help attract more tourists as they are interested in visiting Nepal and the number of bookings is also increasing. According to the board, 150,962 tourists had visited Nepal from different countries in 2021.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14643', 'image' => '20220309044358_Tourist.jpg', 'article_date' => '2022-03-09 16:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14899', 'article_category_id' => '1', 'title' => 'Dollar Rate Reaches All-Time High in Nepal ', 'sub_title' => '', 'summary' => 'March 9: The US dollar’s rate has been rising steadily to reach an all-time high in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 9: The US dollar’s rate has been rising steadily to reach an all-time high in Nepal. Prior to this, the highest rate of US dollar in Nepal (selling price) was Rs 123.28 on April 17, 2020. On March 8, 2022, the selling price of US dollar surpassed that mark to reach Rs 123.44. According to Nepal Rastra Bank, this is the all-time high price of US dollar. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">A large proportion of Nepal’s foreign trade is with India. As Nepal’s currency is pegged to India, it has a direct effect on Nepali rupee as the dollar depreciates in India. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the dollar’s rate increases, exports, tourism revenue and remittances increase. However, exports of goods from Nepal are low and the number of tourists has been declining in Nepal for the last two years due to Covid-19. Nepalis, who have gone for foreign employment are also sending less remittances recently. Former executive director of Nepal Rastra Bank Nara Bahadur Thapa said that this will create pressure on foreign exchange reserves. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Thapa, the budget deficit will increase due to the rise in the value of the dollar. “From Nepal's perspective, an increase in the rate of dollar will have a direct impact on the economy. This will increase the budget deficit as the interest on loans paid by the state will also increase,” said Thapa. As the dollar increases, the balance of payments and trade deficit also increase. According to Thapa, the cheaper the dollar, the better it will be for development works and to buy imported goods. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The raw materials used in Nepal's exports have to be imported in dollars from abroad. It is certain that the price of raw materials imported from abroad will increase now. However, the increase in value of dollar does not necessarily increase the price of imported goods all of a sudden.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Thapa said that the price hike would not have any immediate effect as the traders would now sell the goods they had bought before the rise in the rate of dollar. </span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14642', 'image' => '20220309021621_dolar.jpg', 'article_date' => '2022-03-09 14:14:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14898', 'article_category_id' => '1', 'title' => 'Government to Ensure Smooth Supply of Goods from China: Foreign Minister ', 'sub_title' => '', 'summary' => 'March 9: The government has said that it is doing its best on its part to ensure smooth operation of trade with China as soon as possible.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 9: The government has said that it is doing its best on its part to ensure smooth operation of trade with China as soon as possible. Foreign Minister Dr Narayan Khadka said before his Turkey visit that diplomatic initiatives are being taken with the Chinese side to increase the number of cargo vehicles into the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Minister Khadka, the government has repeatedly urged Beijing to find a solution to the problem, as trade with China has not been able to operate smoothly and the country has suffered financially while exports have been hampered. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Foreign Minister Khadka said he had requested during telephone talks with his Chinese counterpart Wang Yi and other Chinese officials and the Chinese Ambassador to Nepal for effective operation of the trade gateway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a press conference organized on Monday for the first time since his assumption of office six months ago, Minister Khadka expressed confidence that China would accept Nepal's request and resolve the issue at the trade and transit point. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that there were some problems with major trade ports with China due to the COVID-19 pandemic and China responded positively to solve them, he said, "Direct contacts have been established between the local authorities of the two countries for smooth communication and coordination at the procedural level of import and export." </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Khadka said that he had requested the Chinese side at all high-level meetings to assist in the supply of food in the border areas including Gorkha and to create an environment for Nepali students to return to China. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The press conference was organized on the eve of his visit to Turkey leading a Nepali delegation to attend the Antalya Diplomacy Forum to be held in Antalya of Turkey from 11-13 March.</span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14641', 'image' => '20220309105634_Tatopani.jpg', 'article_date' => '2022-03-09 10:55:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14897', 'article_category_id' => '1', 'title' => 'Rs 40 Million Allocated for Protection of Melamchi Flood-Ravaged Areas ', 'sub_title' => '', 'summary' => 'March 9: Ministry of Economic Affairs and Planning of Bagmati Province has earmarked a budget of Rs 40 million for the protection of the areas affected by the floods of Merlamchi and Indrawati rivers. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 9: Ministry of Economic Affairs and Planning of Bagmati Province has earmarked a budget of Rs 40 million for the protection of the areas affected by the floods of Merlamchi and Indrawati rivers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry has approved 31 plans with a budget of Rs 4 million in the first phase under the Soil and Watershed Conservation Programme. </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"">Though the ministry has appropriated budget for 31 plans from Panchpokhari, Helambu to Dhandkhola, the provincial government is yet to release Rs 70 million required for the implementation of the plans. According to the province assembly member Yubaraj Dulal, the provincial government will approve and implement the plans within the current fiscal year.</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 provincial government allocated the budget for the conservation of the flood-ravaged areas on the initiative of province assembly member Dulal. </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 massive flooding that occurred in the Melamchi and Indrawati Rivers nine months ago had ravaged human settlements in Sindhupalchowk district. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14640', 'image' => '20220309104003_Emblem_of_Bagmati_Province.jpg', 'article_date' => '2022-03-09 10:39:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14901', 'article_category_id' => '1', 'title' => 'Gold Price Hits All-Time High of Rs 105,500 per Tola ', 'sub_title' => '', 'summary' => 'March 9: The price of gold has reached an all-time high of Rs 105,500 per tola (11.66 grams) in the domestic market of Nepal on Wednesday (March 9).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 9: The price of gold has reached an all-time high of Rs 105,500 per tola (11.66 grams) in the domestic market of Nepal on Wednesday (March 9). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold increased by Rs 2,500 per tola compared to the previous trading day. On Tuesday, the precious yellow metal was traded at Rs 103,000 per tola.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The price of silver also increased by Rs 40 per tola to reach Rs 1450, according to the website of the federation. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Gold is being traded at approximately US$ 2,050 per ounce in the international market on Wednesday. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The last time when the price of gold crossed the mark of Rs 100,000 per tola in Nepal was during the outbreak of Covid-19.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">It is believed that the Russian invasion of Ukraine has led to the skyrocketing price of gold as investors find the precious yellow metal a safe bet during current crisis when the global food prices have been rising and stock markets have been tumbling because of the war. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-03-09', 'modified' => '2022-03-09', 'keywords' => '', 'description' => '', 'sortorder' => '14639', 'image' => '20220309060734_20220307082414_gold1_1631507545558.jpg', 'article_date' => '2022-03-09 18:06:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14896', 'article_category_id' => '1', 'title' => 'Steel Industry Getting more Investment', 'sub_title' => '', 'summary' => 'March 8: With the government's policy of encouraging the iron rod industry to produce billets in the country itself, new steel industries have started opening while the old ones have been pouring more investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 8: With the government's policy of encouraging the iron rod industry to produce billets in the country itself, new steel industries have started opening while the old ones have been pouring more investment. A total of Rs 8.44 billion is being invested in a new steel industry and four such industries that are currently operational.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After the government introduced zero tariff on import of sponge iron through the replacement bill, the investment will be added to the production of iron rods and construction materials in the current fiscal year (FY 2078/79). A new steel industry, Sarvottam Steels is opening soon and will produce billets and other materials, while four existing industries are adding huge investments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Industry, Kathmandu Steels, Swastik Rolling Mills, Premier Steel and Hulas Wire have taken permission to import sponge iron and increase investment in billet production. The department has given approval for the investment as well. These industries have been allowed to produce billets by importing raw materials like sponge iron, said Khagendra Bahadur Basnet, director of the department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">He said that there is an increase in the number of people seeking permission for investment and capacity expansion to produce billets during this period. According to the department, the new industry Sarvottam Steels is about to be established with the highest investment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Saurav Group is all set to operate the industry, which has already received approval for environmental impact assessment, with an investment of Rs 3.27 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The steel industry is about to be established on 15 bighas of land owned by the company in Maniyari of Birgunj Metropolitan City. The industry has been registered with the Department of Industry, with a proposal to produce 441,000 metric tons annually.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industry will give employment opportunity to 537 people. Among them, 200 will get employment during the construction of the industry and the rest will get employment during the operation phase of the industry.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The industry will have open area, green garden, two open water storage tanks, storage area, vehicle parking lot. Two induction furnaces of 30 metric tons will be set up in the industry for the production of iron products. The company informed that the industry needs 2.5 MW of electricity for the production of steel products.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Most of the industries licensed by the department are located in Sunsari district. Apart from Kathmandu Steels of Nawalparasi and Sarvottam of Parsa, three other industries are located in Sunsari district. According to the department, Swastik Rolling imported sponge iron and invested an additional Rs. 1.93 billion investment for production of billet and other products amounting to 0.13 million metric tons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Kathmandu Steels has set an annual production target of 0.177 million metric tons of billet and iron products and has already acquired permission for investment of Rs 1.39 billion. Also, Premier Steel has set an annual production target of 0.80 million metric tons and has also acquired permission for investment of Rs 1.14 billion from the department. In addition, Hulas Wire has set an annual production target of 0.112 million metric tons and is aiming to add Rs 670 million new investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the data provided by the department, 31 iron rods and steel industries are in operation in the country as of 2078 BS. However, only 6 of these industries have been producing billets in the country using sponge iron and scrub. According to the department, the total annual capacity of the existing industry is about 3.6 million metric tons and the annual demand is about 1.2 million metric tons.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Nepal is self-sufficient in producing iron rods and iron-based construction materials. The government has recently reduced the customs duty on import of sponge iron to zero with the motive of producing billets in the country. It is also likely that there will be enough raw material in the country after the operation of Dhaubadi iron mine.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-08', 'modified' => '2022-03-08', 'keywords' => '', 'description' => '', 'sortorder' => '14638', 'image' => '20220308065922_1646715425.spanj_iron.jpg', 'article_date' => '2022-03-08 18:58:41', '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
