February 28: Langtang and the Gosainkunda foot trails, where tourism activities were silent due to Covid-19 infection, has now started receiving foreign…
February 28: Langtang and the Gosainkunda foot trails, where tourism activities were silent due to Covid-19 infection, has now started receiving foreign…
February 28: Panchkhal municipality is set to become the first smart city of Nepal under the public-private partnership (PPP) model at a time when other smart city projects announced by the government have become…
February 28: The United States of America (USA) has welcomed the ratification of the Millennium Challenge Corporation (MCC) Compact by the…
February 28: The general public has been hit hard by the continuous rise in food…
February 28: The obstacles for implementing the Millennium Challenge Corporation (MCC) compact have been removed with the ratification of the US-funded project from…
February 28: The ruling parties announced an 11-point descriptive notes on the much debated Millennium Challenge Corporation (MCC) compact, arguing that it is focused solely on economic cooperation and development of physical…
February 28: After much debate and deliberations, the House of Representatives has finally ratified the Millennium Challenge Corporation (MCC) grant agreement reached between Nepal and the US…
February 27: Russian invasion of Ukraine has caused obstruction in the supply of raw materials required for producing cooking oil and poultry feed to…
February 27: The government has started homework of policy improvement to attract foreign…
February 27: ICRA Nepal Limited, a credit rating agency in Nepal, has assigned ICRA NP Issuer Rating double A plus to the state-owned Nepal Electricity Authority…
February 27: The House of Representatives (HoR) has commenced its business amid protest from lawmakers of the main opposition party CPN…
February 27: The Russian invasion of Ukraine has affected the world economy, including Nepal.…
February 27: Family members of Nepali citizens living in Ukraine have expressed concerns regarding their safety after Russia began invading various cities of…
February 27: The Independent Power Producers' Association of Nepal has welcomed the agreement reached between Nepal and India during the recently held Secretary-Level Joint Steering Committee…
February 25: Sauraha, one of the prime tourist destinations in Nepal, has seen arrival of foreign tourists after a long…
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There has been an increase in the number of tourists arriving here after the decline in Covid-19 infection. With the onset of spring, the warm weather in the frosty mountains has also attracted 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"">Ram Sharan Gajurel, president of the district chapter of the Hotel Entrepreneurs' Association, Rasuwa, said that the hotels and lodges, which were closed due to snowfall, have reopened. He said that they resumed service as soon as the tourists started arriving in the area.</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 Gajurel, the arrival of tourists has given a glimmer of hope to the businessmen who thinking of giving up their business due to the heavy loss they sustained because of the impact of the pandemic.</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 hoteliers of Langtang informed that 15-20 domestic tourists and four to five foreigners have been arriving in the region daily since the last few days.</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"">With the expectation that the tourism sector will flourish in the coming days, the businessmen here have already started preparations of further strengthening the hotels and lodges along the foot trails, said Chairman Gajurel.</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"">Hari Aryal, 24, of Kapilvastu Banganga-8 said that the biodiversity during the pilgrimage to Gosainkunda, the snowfall on Wednesday and the high mountain range of western Nepal seen from Lauribinayak made the journey fascinating. </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"">Patrick, a US citizen and Nick from the UK, who came to Gosainkunda via Rasuwa Trek and Travel Tour, Thamel Kathmandu, said that many of their friends are eager to see the beauty of the Himalayan region. They said that they would complete the visit in the first and then recommend other friends to visit Rasuwa. They plan to stay in Chandanbari, Lauribinayak and Gosainkunda for a week.</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"">Gagan Raj Neupane, a tourism entrepreneur, said that mid-February to mid-June and mid-September to mid-December are the most suitable time for mountaineering. According to tourism entrepreneurs, the main attraction for tourists in the region include Gosainkunda, which holds significance from both religious and tourism point of views, as well as Langtang and Kangjen under Red Panda foot trail, and Gatlang, Nagthali, Thuman and Wriddhim areas of under the Tamang Heritage Route.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14588', 'image' => '20220228022038_Langtang-National-Park.jpg', 'article_date' => '2022-02-28 14:16:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14846', 'article_category_id' => '1', 'title' => 'Panchkhal Ready to Become the First Smart City of Nepal', 'sub_title' => '', 'summary' => 'February 28: Panchkhal municipality is set to become the first smart city of Nepal under the public-private partnership (PPP) model at a time when other smart city projects announced by the government have become uncertain. ', 'content' => '<p><span style="font-size:18px">February 28: Panchkhal municipality is set to become the first smart city of Nepal under the public-private partnership (PPP) model at a time when other smart city projects announced by the government have become uncertain. <br /> With an investment of Rs 2.5 billion, Panchkhal will soon become a smart city spread across 5,500 ropanis of land which includes land set aside for agriculture.<br /> With the consent of the locals, the Panchkhal Municipality has started the process of making a smart city with the investment from Nepal Infrastructure Bank (NIFRA) through land pooling method. Mayor of Panchkhal Municipality Mahesh Kharel informed that they have a vision to build five smart cities in Panchkhal in the next 20 years. Under this concept, an agreement has been reached to invest Rs 2.5 billion in the first phase. He said that the locals are ready to give their land for the smart city on condition that those lands remain registered in their names.<br /> Residents of Smart City Panchkhal will provide land for development of roads, parks and other structures. "A maximum of 30 to 35 percent of the land of the locals will be used for this purpose," Kharel said adding, "Besides, they will get back the land." The land will be under their own names, except for the ones used to make the structures. He said that a tripartite agreement would be reached between the bank, municipality and locals for developing this land.<br /> Nepal Infrastructure Bank Limited (NIFRA) has reached an agreement with a US-based company, JLL, to carry out a detailed study of the market for a Smart City project in Panchkhal Municipality of Kavrepalanchok district. JLL has been given two months’ time for the work. <br /> The municipality has imposed a complete ban on building houses in the paddy fields in Panchkhal so as not to destroy the cultivable land even after developing the smart city. "Smart cities will be developed in non-irrigated and non-cultivated areas," said Kharel adding, “The project does not have any concept of building a smart city on arable land and farms, but plans to save cultivable land, move settlements to the hills and develop Panchkhal as an alternative to Kathmandu.”<br /> “The company, which has developed DPRs in developed cities like Indonesia and Singapore, is now developing DPR in Panchkhal as well,” he said adding, “The city will be made a high-tech city by incorporating the basics of smart city, while managing the unorganized slums.”<br /> Five cities will be developed within Panchkhal. He said that the investment is projected to be Rs 2.5 billion for the first phase of the first smart city. <br /> "It will take 50 years to build a smart city or develop infrastructure with the central government's budget," he said adding, “That is why the process of investing and developing it through the public-private partnership (PPP) model has been taken forward. The entire investment will be mobilized by NIFRA. After the investment of NIFRA, the land will be developed in the name of the locals by signing an agreement with the locals.”<br /> He said that the concept of developing smart cities and settlements by acquiring land has failed in many places. That is why the land of the locals will be in the name of the locals. The local’s land will be developed with the investment of NIFRA and coordination of the municipality. </span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-03-01', 'keywords' => '', 'description' => '', 'sortorder' => '14587', 'image' => '20220228030732_20220206060744_urban_1630479131.jpg', 'article_date' => '2022-02-28 15:06:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14844', 'article_category_id' => '1', 'title' => 'USA says Ratification of MCC means more Jobs', 'sub_title' => '', 'summary' => 'February 28: The United States of America (USA) has welcomed the ratification of the Millennium Challenge Corporation (MCC) Compact by the parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: The United States of America (USA) has welcomed the ratification of the Millennium Challenge Corporation (MCC) Compact by the parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A day after the House of Representatives (HoR) endorsed the US-funded project, American Ambassador to Nepal Randy Berry on Monday (February 28) took to Twitter to welcome the decision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Government of Nepal’s ratification of its commitment to the $500 million Millennium Challenge Corporation (MCC) grant will mean more jobs for Nepali people and lower energy and transportation costs,” the US ambassador to Nepal tweeted.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier on Sunday, the US Embassy in Nepal issued a statement saying that the decision whether to ratify the $500 million-dollar Millennium Challenge Corporation (MCC) Nepal Compact has always rested with the Government of Nepal as a sovereign democratic nation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US embassy further said that the MCC compacts, in the nearly 20 years since its inception, have helped alleviate poverty around the world by forming partnerships with developing countries who are committed to economic freedom, investing in their citizens, and good governance, including promoting democratic principles and combatting corruption.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement, the Government of Nepal signed the MCC agreement in 2017 after determining its goals to modernize Nepal’s energy and transportation sectors with the hope of helping more than 23 million Nepalis. The Government of Nepal will now be able to continue to work towards implementing the five-year program, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This year marks the 75th year of diplomatic relations between Nepal and the United States. During these 75 years, Nepal has seen monumental and incredible changes. We have stood with Nepal through these changes and supported the country with development aid, disaster response and preparedness assistance, health, and education programs, and more.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US embassy further said that America’s relationship with Nepal is broader than one agreement and “we will continue to support the country and its democratic values and long-term economic prosperity”.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14586', 'image' => '20220228015516_randy berry.jpg', 'article_date' => '2022-02-28 13:54:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14843', 'article_category_id' => '1', 'title' => 'Consumers Bearing the Brunt of Inflation ', 'sub_title' => '', 'summary' => 'February 28: The general public has been hit hard by the continuous rise in food prices.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 28: The general public has been hit hard by the continuous rise in food prices. Lately, traders have been increasing the prices of food items under various pretexts. Prices of pulses, nuts, cooking oil, sugar, rice and other consumer goods have gone up sharply. </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 retail price of sugar, which was Rs 90 to Rs 95 some time ago, has now reached Rs 100 per kg. The cost price of sugar for traders has been fixed at Rs 90 per kg and it costs around Rs 93 to 95 when the transportation charge is 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"">"There is a problem in selling sugar even if it is sold at a profit of only Rs 5," said Pavitra Bajracharya, the former president of Nepal Retailers Association, "Currently, traders are not in a position to sell sugar at a profit." Bajracharya said that if the price increases in this way, there will be no profit from selling consumer 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"">At present, the price of all types of cooking oil has increased by Rs 30 to Rs 32 per liter. The price of sunflower oil, which used to be Rs 220 per liter, has now increased by Rs 30 and is being sold at Rs 250 per liter. The price of lentils has gone up by Rs 70 per kg in the last two months and currently cost Rs 165 per kg. The price of mixed beans including peas and soybean has also gone up by 10 to 25 percent. Similarly, the price of rice of all brands has gone up by Rs 200 per sack. </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"">Although there is no specific reason for the increase in prices now, traders have arbitrarily increased the price pointing that the increase in fuel price and freight charge. </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"">Chairman of the Association of Nepalese Rice, Oil and Pulses Industry Subodh Kumar Gupta, said that along with the rise in fuel prices, the price of raw materials in the international market has also increased. Furthermore, he said that the rise in fuel prices would increase the prices of not only food but also many other commodities in the near future. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14585', 'image' => '20220228010414_Inflation.jpg', 'article_date' => '2022-02-28 13:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14842', 'article_category_id' => '1', 'title' => 'This is how MCC will be Implemented', 'sub_title' => '', 'summary' => 'February 28: The obstacles for implementing the Millennium Challenge Corporation (MCC) compact have been removed with the ratification of the US-funded project from parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: The obstacles for implementing the Millennium Challenge Corporation (MCC) compact have been removed with the ratification of the US-funded project from parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The passage of MCC has opened doors for a grant assistance of Rs 55 billion, which will primarily be used for construction of transmission lines and roads. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Until now, the project signed in 2017 had remained uncertain because the political parties were divided over its endorsement. But now, the project is all set to be implemented in full fledge, according to the officials of the Millennium Challenge Account (MCA) Nepal. MCA Nepal is body formed by the Government of Nepal in April/May 2018 (2075 BS) under the Development Committee Act, 2013 in order to implement the projects under the MCC grant agreement. The MCC compact will be implemented by MCA Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Communication officer of MCA Nepal Rajiv Dahal said that the preparatory works for the project had slowed down because of the delay in endorsing the MCC from parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Now, the MCA Nepal, under this project, will complete the works related to land acquisition and seek within one year the permission to use forest areas. Then the EIF meeting will be held to implement the project. This meeting will fix the deadline for projects under MCC to be completed within 5 years. The MCC will release funds after this meeting as per the cost estimate submitted by MCA Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US government will provide grant assistance of US$ 500 million while the Government of Nepal will invest US$ 130 million for this project. If Nepal is not able to spend the grant pledged by the USA within 5 years, the unspent amount has to be returned back.</span></span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14584', 'image' => '20220228120455_thediplomat-2020-01-29-21.jpg', 'article_date' => '2022-02-28 12:04:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14841', 'article_category_id' => '1', 'title' => 'What does 11-point Descriptive Notes about MCC Say', 'sub_title' => '', 'summary' => 'February 28: The ruling parties announced an 11-point descriptive notes on the much debated Millennium Challenge Corporation (MCC) compact, arguing that it is focused solely on economic cooperation and development of physical infrastructures.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 28: The ruling parties announced an 11-point descriptive notes on the much debated Millennium Challenge Corporation (MCC) compact, arguing that it is focused solely on economic cooperation and development of physical infrastructures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the announcement, the ruling parties stated that the MCC compact, upon its endorsement, would not be regarded as an agreement having link to any strategic or military alliance including the US Indo-Pacific Strategy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the explanatory notes, the auditing of MCC would be conducted by the Office of Auditor General; the intellectual property gained from the project would be of Nepal; no agreement would be above the Constitution of Nepal; and the project would be directed as per Nepal's constitution. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The descriptive notes were made public on Sunday (February 28) after a meeting of the ruling parties held at prime minister's official residence in Baluwatar. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In relation to section 2.7, section 5.2 (b.3), section 5.2 (b.4) of the MCC compact, Nepal has the understanding that these provisions are effective only for the use of the grant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, other provisions would not make Nepal mandatory to abide by the existing or the future US laws or policies in any purpose except the use of MCC grant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, in regard to section 3.2 (b) of the MCC compact, the 11-point notes issued by the political parties has made it clear that the activities to be run from the MCC compact Nepal Development Committee shall be guided by the laws of Nepal. The MCC would not have ownership in the intellectual property right while Nepal will own the entire intellectual property rights and Nepal will fully utilise this. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The descriptive notes also states that the Constitution of Nepal shall prevail over the compact and implementation of the programmes under this project would be carried out as per the laws of Nepal and the compact. All the movable and immovable properties and land plots of the projects would remain under the ownership of the Government of Nepal and its line agencies, the notes further mentioned. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14583', 'image' => '20220228112208_MCC.jpg', 'article_date' => '2022-02-28 11:21:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14840', 'article_category_id' => '1', 'title' => 'Parliament Ratifies MCC Compact ', 'sub_title' => '', 'summary' => 'February 28: After much debate and deliberations, the House of Representatives has finally ratified the Millennium Challenge Corporation (MCC) grant agreement reached between Nepal and the US government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: After much debate and deliberations, the House of Representatives has finally ratified the Millennium Challenge Corporation (MCC) grant agreement reached between Nepal and the US government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second meeting of the HoR ratified the MCC compact on Sunday evening (February 27). Finance Minister Janardan Sharma had presented the proposal seeking the passage of the MCC compact along with descriptive notes. The proposal was passed by voice vote. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The main opposition, CPN UML, continued its protest over non-implementation of its decision. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, taking part in the discussion on finance minister's proposal seeking ratification of the MCC compact along with descriptive notes, the lawmakers put forth views for and against the MCC compact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lawmaker Parbata Bisankhe said the descriptive notes of the MCC compact should be approved in letter and spirit, adding that the US government too should accept it. Bisankhe said Nepal should scrap it otherwise. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, lawmaker of Rastriya Janamorcha Durga Poudel argued that the descriptive notes were one-sided and the MCC compact was against the spirit of nationalism and national sovereignty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">UML lawmaker Bhim Rawal also questioned the one-sided descriptive notes, stating that it created illusion among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Nepali Congress (NC) whip Pushpa Bhusal believed that the MCC would help strengthen Nepal's economy and support in development of infrastructures in the country. Bhusal said it while taking part in the deliberation on the proposal, seeking ratification of MCC compact in the second meeting of the House of Representatives (HoR). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She argued that a total of 46 countries across the world had inked MCC agreement with he USA and there was not a single case of military alliance relating to the MCC. She also commented that the descriptive notes on the MCC were positive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MP Prem Suwal, however, protested the MCC agreement and demanded it be withdrawn. Matrika Prasad Yadav said that descriptive notes were a part of the MCC internationally. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Dr Minendra Rijal of Nepali Congress expressed his confidence that the descriptive notes would help dispel the misleading information about the MCC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (Unified Socialist) lawmaker Jivan Ram Shrestha said that the descriptive notes on the MCC were positive and the American side should also mandatorily abide by it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (Maoist Centre) lawmaker Girirajmani Pokharel viewed that more light should be thrown on the MCC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The next meeting of parliament is scheduled for February 30. -- RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14582', 'image' => '20220228110858_Parliament.jpg', 'article_date' => '2022-02-28 06:51:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14839', 'article_category_id' => '1', 'title' => 'Shipments from Ukraine Cancelled as War Escalates', 'sub_title' => '', 'summary' => 'February 27: Russian invasion of Ukraine has caused obstruction in the supply of raw materials required for producing cooking oil and poultry feed to Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: Russian invasion of Ukraine has caused obstruction in the supply of raw materials required for producing cooking oil and poultry feed to Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali importers say that the consignments of unrefined sunflower and soybean oil from Ukraine have been cancelled due to the outbreak of the war. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nikhil Chachan, operator of Narayani Oil, says that the supply of raw materials had been delayed during the build-up to the war and the consignments have completely stopped with the onset of war. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">More than a dozen industries that manufacture cooking oil in Nepal are dependent on Ukraine for raw materials. The shipments of raw materials have been stuck at the ports after Russia launched an attack on Ukraine last Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Operator of OCB Foods, Suresh Rungata, says that the shipping companies have started cancelling the orders citing extraordinary situation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The ships that were ready to sail with the raw materials have been stuck at the ports following the Russian invasion,” said Rungata, adding, “It is not certain when things will return back to normalcy.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal imports more than 80 percent of unprocessed product required for producing oil from Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Industrialist Chachan says that the quality of mustard produced in Ukraine are better than anywhere else and therefore it falls in their first choice category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Rungata says that all the industries keep a stock of 10 to 15 percent of raw materials and therefore the market will not face immediate shortage of cooking oil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The industries have stock enough for 1 or 2 days. The shipment at Kolkata port will be enough for another 10/12 days. There might be some problem is supply after that,” says Rungata.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another industrialist Om Prakash More says that if the Russia-Ukraine war gets prolonged, there will be a major problem in supply of cooking oil, wheat, maize, petroleum products among others. He further said that inflation is imminent due to the short-supply. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other businessmen say that that even if the war ends it will take some time for Ukraine to recover from its impact and the supply chain will not improve anytime soon. </span></span></p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14581', 'image' => '20220227070707_Foreign Trade.jpg', 'article_date' => '2022-02-27 19:06:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14837', 'article_category_id' => '1', 'title' => 'Government Ready for Policy Reforms to Attract Foreign Investment', 'sub_title' => '', 'summary' => 'February 27: The government has started homework of policy improvement to attract foreign investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: The government has started homework of policy improvement to attract foreign investment. Currently, Nepal is not able to attract lucrative foreign investment into the country. Thus, the government has taken a step towards policy improvement to bring foreign investment as well as technologies. In this regard, the government is preparing to reduce the time period for process involved in foreign investment. In addition to this, the government is also preparing to make amendments to the Foreign Enterprise and Technology Transfer Rules.</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 Foreign Investment and Technology Transfer Rules 2077, which was approved and implemented by the Council of Ministers in December last year, had set a minimum limit of Rs 50 million for foreign investment. The time limit was also set when such a limit was fixed. </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"">Accordingly, the process of bringing investment should be started within one year. Foreign investors who pledge to invest Rs 50 million should bring 25 percent of the investment within one year. Similarly, investors who pledge to invest Rs 250 million should bring 15 percent of the pledged amount within a year and investors investing Rs 1 billion are required to bring 10 percent within one year while the investors investing above Rs 1 billion are required to bring 5 percentage of committed amount within a year. No such date was fixed before this arrangement was made.</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 private sector had been protesting against the regulations arguing that the provision in the regulations was not practical.</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 government has formed a study committee headed by Ram Chandra Tiwari, Director General of the Department of Industry, to amend the regulations. The committee, which was formed a month ago, has started the study process and has been mandated from the Ministry of Industry, Commerce and Supplies to prepare a report with suggestions for amendment.</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"">Tiwari, the head of the study committee, said that the committee has already started its work. "We will study the need to amend the current rules in detail and submit a report soon," he told New Business Age. </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 Ministry of Industry says that the process of amendment will move forward after it receives the report from the study committee. The private sector and investors have been complaining that they are embarrassed by the time limit and time set by the government for foreign investment.</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 Confederation of Nepalese Industries (CNI) has been demanding removal of the minimum limit for foreign investors since the introduction of such an arrangement. "In order to encourage foreign investment, the minimum limit should be removed," the CNI said in a recent statement. The number of foreign-invested industries in Nepal has reached 5,366 now.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">What is the commitment of foreign investment in Nepal?</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the first six months of the current Fiscal Year 2078/79, a total of 129 new industries with foreign investment have been registered in Nepal. According to the Department of Industry, with the new industries registered, the total number of industries with foreign investment in Nepal has reached 5,366. There are 319 large, 566 medium and 4,481 small industries registered with foreign investment in Nepal. As of mid-January, Nepal has received foreign investment commitment of Rs 31.53 billion.</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 the Department of Industry, foreign investment commitment of Rs 24.23 billion was made in the corresponding period of the previous fiscal year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14580', 'image' => '20220227052247_20160222122813_ep3.jpg', 'article_date' => '2022-02-27 17:21:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14838', 'article_category_id' => '1', 'title' => 'ICRA Gives AA+ Rating to NEA ', 'sub_title' => '', 'summary' => 'February 27: ICRA Nepal Limited, a credit rating agency in Nepal, has assigned ICRA NP Issuer Rating double A plus to the state-owned Nepal Electricity Authority (NEA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: ICRA Nepal Limited, a credit rating agency in Nepal, has assigned ICRA NP Issuer Rating double A plus to the state-owned Nepal Electricity Authority (NEA). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Companies with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such companies carry very low credit risk. The rating is only an opinion on the general creditworthiness of the rated entity and not specific to any particular debt instrument. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Commenting on the rating, the NEA Executive Director Kulman Ghising said this rating means NEA is considered to have a high degree of safety concerning timely servicing of its financial obligations. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The NEA has taken out loans from multi-sectoral development partners like the World Bank and the Asian Development Bank with Government of Nepal as the guarantor. Now with this rating, it can directly seek and take out loans from such partners with its institutional guarantee," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On issuing initial public offering to the public, Ghising said discussions with the government were underway in this regard. "Now we will take forward the process of issuing IPO to the general public as per the law and with the government's consent." The NEA has posted a profit of Rs 12 billion in six months of the current fiscal year (FY 2021/22). -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14579', 'image' => '20220227053453_NEA.jpg', 'article_date' => '2022-02-27 17:33:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14836', 'article_category_id' => '1', 'title' => 'HoR Begins Deliberations on MCC Compact ', 'sub_title' => 'Ruling Coalition Agrees to Ratify MCC with Explanatory Note', 'summary' => 'February 27: The House of Representatives (HoR) has commenced its business amid protest from lawmakers of the main opposition party CPN UML.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: The House of Representatives (HoR) has commenced its business amid protest from lawmakers of the main opposition party CPN UML.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaker Agni Prasad Sapkota announced the commencement of the meeting business amidst protest from opposition MPs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, Minister for Law, Justice and Parliamentary Affairs Dilendra Prasad Badu presented the annual report of the Office of Auditor General for the fiscal year 2077-78 BS, on behalf of Prime Minister Sher Bahadur Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Finance Minister Janardan Sharma tabled a proposal seeking general deliberations on the proposal to endorse the US-funded Millennium Challenge Corporation (MCC) compact. Earlier, a meeting of the ruling alliance held at the Prime Minister's official residence in Baluwatar today morning (February 27) decided to endorse the American project through parliament along with an “explanatory declaration”. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking to the media after the meeting, Nepali Congress leader Ram Chandra Poudel said that the meeting of the ruling alliance has decided that the House of Representatives will ratify the MCC after the government makes it clear that the compact is not under any military organisation but purely an economic assistance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Present in the meeting were Prime Minister and Nepali Congress president Sher Bahadur Deuba, CPN (Maoist Centre) chair Pushpa Kamal Dahal, CPN (Unified Socialist) chair Madhav Kumar Nepal, Janata Samjabadi Party chair Upendra Yadav among the leaders of the ruling coalition. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Signed in 2017, the US$ 55 billion project will construct transmission lines and roads in Nepal if endorsed by the parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The then government led by then prime minister KP Sharma Oli had decided to table the MCC agenda in parliament on February 8, 2019. Similarly, the then Finance Minister Dr Yuba Raj Khatiwada had presented MCC compact in the parliament on July 15, 2019 for its passage. However, the ratification of MCC had remained stalled due to the differences among the political parties. But now, a meeting of the CPN (Maoist Centre) today morning also decided to ratify the MCC along with an explanatory note. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The parliament meeting continues theoretical discussions over the MCC, according to the state-owned national news agency RSS. The government has beefed up security in New Baneshwar area anticipating protests over the MCC issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The extended deadline for endorsing the MCC is February 28. (With inputs from RSS) </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14578', 'image' => '20220227035518_MCC.jpg', 'article_date' => '2022-02-27 15:54:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14835', 'article_category_id' => '1', 'title' => 'Nepal Imports Mustard from Australia instead of Ukraine ', 'sub_title' => '', 'summary' => 'February 27: The Russian invasion of Ukraine has affected the world economy, including Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: The Russian invasion of Ukraine has affected the world economy, including Nepal. The price of sunflower and soybean imported from Ukraine has gone up by 30 to 60 percent per tonne. Industrialists have estimated that the price of cooking oil in Nepal will increase by up to Rs 100 per litre within the next one month.</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 price of mustard, which was ordered from Ukraine by domestic oil industry operator Shravan Kumar Agrawal, has recently increased by USD 30 per ton. Due to the war, it was not possible to order additional consignment of mustard from Ukraine, so the industrialist had to order mustard from Australia, where it costs an additional USD 60 per ton. </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 price of mustard oil may increase by as much as Rs 100 due to price hike of mustard seeds, increase in transportation fare and the delay consignment delivery," said Agrawal.</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"">At present, the retail price of mustard oil is Rs 300 per liter. He estimates that the price will reach Rs 400 in a month. Sunflower oil costs Rs 260 per liter. It is expected to increase to Rs 360. The current retail price of soybean oil is Rs 250 per liter, which is expected to cost Rs 350 per liter soon.</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"">Russia's conflict with Ukraine has caused impacts on various sectors globally. Entrepreneurs said that increase in coal price will increase the production cost of the brick and cement industries.</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 Bhim Ghimire, president of Province 1 chapter of the Confederation of Nepalese Industries, the price of coal has also been affected by the Russia-Ukraine war. Traders at the Kolkata port, who have been supplying coal to Nepal, say that the price of coal has gone up by USD 30 per ton. The price of coal was USD 200 per ton a year ago, and has now reached USD 230 per ton. According to Ghimire, the price is expected to reach USD 250 per ton.</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"">Ukraine supplies most of the raw materials required to produce sunflower oil in Nepal. Only a few percent comes from Russia and Australia. The price of soybean and sunflower is comparatively cheaper in Ukraine than in other countries. </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"">Nanda Kishore Rathi, vice-president of the Morang Chamber of Commerce, said that the price of crude oil, which used to cost USD 1,500 per tonne, has now risen by USD 30 to 300.</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"">Nepal has imported 445,000 kg of raw material of mustard oil worth Rs 3.95 billion in the last seven months, while 57.36 million kg of crude oil worth Rs 9.51 billion has been imported from Ukraine.</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"">Along with Ukraine, Russia has also exported goods worth Rs 151.1 million to Nepal in the last seven months and imported goods worth Rs 4.31 billion, according to the Department of Customs. During this period, Nepal imported printing paper, automobiles, chemicals (sodium phosphate), animal vaccines, shampoos, baby lotions, and cosmetics from Russia. Carpets worth Rs 73.9 million, tea leaves worth Rs 61.3 million, hangers for clothes worth Rs 1.1 million, and Yarsagumba worth Rs 6.5 million were exported to Russia.</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 war between Russia and Ukraine has pushed up the price of gold and petroleum products, said Navin Rijal, president of the Morang Merchants’ Association. He informed that the price of gold in Nepal increased by Rs 2500 per 11.6 grams on Thursday and decreased by Rs 1000 on Friday. The price of crude oil, which had reached USD 105 per barrel, had reached USD 97.2 at midnight on Friday.</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 Russia is the second-largest producer of petroleum products internationally, fluctuations in prices are likely to push up the price of petrol, diesel, kerosene, aviation fuel, and cooking gas in Nepal, Rijal said.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14577', 'image' => '20220227015131_1501009175_7.jpg', 'article_date' => '2022-02-27 13:50:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14834', 'article_category_id' => '1', 'title' => 'Family Members Concerned about Safety of Nepalis in Ukraine ', 'sub_title' => '', 'summary' => 'February 27: Family members of Nepali citizens living in Ukraine have expressed concerns regarding their safety after Russia began invading various cities of Ukraine. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: Family members of Nepali citizens living in Ukraine have expressed concerns regarding their safety after Russia began invading various cities of Ukraine. </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"">So far, 193 Nepalis living in Ukraine have come in contact with Nepal’s embassy in Germany that is in charge of looking after affairs related to Russia. It is estimated that there are around 240 Nepali nationals studying and working in Ukraine. However, the vice president of the Non-Resident Nepalese Association (NRNA), Dr Badri KC informed that there are around 400 Nepalis living in Ukraine. "Even though Nepalis are safe till now, we are still concernd about relocating them," 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"">The embassy has requested those in contact to move to a safer location in the west and stay in touch as the attack is currently taking place only in the eastern parts of the country. Advocate and labor and immigration expert Som Luintel, who has been providing assistance to those in need during foreign employment, said that the government should give priority to rescue those in contact even if their condition is said to be safe. </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 price of crude oil has been sharply rising in the world market due to the war between Russia and Ukraine. Russia is one of the top oil suppliers in the world. Brent crude rose to its highest level since 2014, following fears of an impact on Russian oil supplies on Thursday. </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"">Economists and market analysts estimate that crude oil prices could reach $150 a barrel, with worse conditions expected. </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 a result of the war, prices of gold and other commodities are expected to rise. Russia and Ukraine are the world's leading food suppliers. Russia and Ukraine account for 29 percent of the world's total wheat trade. The supply of 19 percent maize also come from these two countries. </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"">About 80 percent of supply of sunflower oil in the world market comes from Russia and Ukraine. Prices of food items including wheat, maize and soybeans have skyrocketed in the world market since mid-February due to rising tensions between Russia and Ukraine. As a result of the war, the prices of palm oil and soybean oil have also increased along with sunflower oil. </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"">Economist Dr Poshraj Pandey says that Nepal will face indirect impact of the Ukraine war. He said that as Nepal's economy is import-oriented, inflation will rise when there is a problem in global supply chain. Recently, the United States, the United Kingdom and other countries have increased their assistance to 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"">“If the situation worsens, the donors might cut grant assistance to Nepal in order to manage expenses for the war,” he added.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14576', 'image' => '20220227123233_NRNA.jpg', 'article_date' => '2022-02-27 12:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14833', 'article_category_id' => '1', 'title' => 'IPPAN Welcomes Decision taken by Nepal-India JSC Meeting', 'sub_title' => '', 'summary' => 'February 27: The Independent Power Producers' Association of Nepal has welcomed the agreement reached between Nepal and India during the recently held Secretary-Level Joint Steering Committee meeting. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: The Independent Power Producers' Association of Nepal has welcomed the agreement reached between Nepal and India during the recently held Secretary-Level Joint Steering Committee meeting. </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"">Issuing a statement on Friday, IPPAN Chair Krishna Prasad Acharya expressed hope that the agreement between Nepal and India would add a new dimension to the country's electricity trade and would further consolidate mutual relations between Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the meeting has created a base for Nepal to export power up to Bangladesh, IPPAN said such an agreement would play an important role in the development of electricity in 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"">IPPAN further said that the decisions taken by the meeting would help promote investment in the energy sector and big projects as well as transmission lines and also improve inter-state energy trade. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14575', 'image' => '20220227082509_aaa.jpg', 'article_date' => '2022-02-27 08:22:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14831', 'article_category_id' => '1', 'title' => 'Sauraha Starts Bustling with Tourists ', 'sub_title' => '', 'summary' => 'February 25: Sauraha, one of the prime tourist destinations in Nepal, has seen arrival of foreign tourists after a long gap.', '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"">February 25: Sauraha, one of the prime tourist destinations in Nepal, has seen arrival of foreign tourists after a long gap. The tourism sector, which has slowed down due to the impact of Covid-19, is now showing signs of recovery. European tourists in particular have started coming to Sauraha after a long time, according to the hoteliers of the region.</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"">"Booking of Indian tourists is also good," said Deepak Bhattarai, president of the Chitwan Regional Hotel Association. </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"">During this time of the year, hotel occupancy in Sauraha used to be 90 percent but it is just 14 percent at present, says Bhattarai.</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"">“But the good news is that foreign tourists have started coming.” </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 Suman Ghimire, the manager of Jungle Safari Lodge, tourists from Germany, the Netherland, Israel, and other countries have started coming. He is hopeful that the tourism sector will be back to normal business from coming October as the number of inquiries has increased.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“With the decline in risk of Covid-19, there has been an improvement in hotel bookings for seminars and meetings,” he said, adding</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">, “Foreign tourists have been seen sporadically after a long time. Nowadays, they also come in groups.”</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"">Ghimire, who is also a former president of the Regional Hotel Association Chitwan, estimates that the number of foreign tourists visiting Nepal would improve significantly by 2023. Foreign tourists have started riding elephants in community forests, including Chitwan National Park, he further said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rishi Tiwari, chairman of the United Elephant Management Cooperative, which has been managing elephants, said that especially Asian tourists have started coming to ride elephants. There are 31 elephants with the cooperative. Among them, 20 to 25 of them have started getting daily work.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> He says that tourists from Nepal, India, and third countries have started coming to the area. Similarly, elephant safari is available in the Baghmara Community Forest. The chairman of the committee Jit Bahadur Tamang also confirmed that foreign tourists have started arriving.</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"">Santosh Giri, chief executive officer of Hotel Jungle Crown, said hotel has been almost booked for weekends.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from sight-seeing, visitors also come here for weddings and other big gatherings. Sauraha has become a popular choice among tourists as it is possible to book a good hotel room at an affordable price.</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"">As Chitwan is located in the middle of the country, big organizations often hold trainings, meetings, and conferences here. Mostly, Indians come here for weddings. </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"">There are 120 hotels in Sauraha. These hotels can accommodate up to five thousand five hundred tourists. Entrepreneurs say that the hotels here have received huge investments in recent years.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-25', 'modified' => '2022-02-25', 'keywords' => '', 'description' => '', 'sortorder' => '14574', 'image' => '20220225053240_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2022-02-25 17:31:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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There has been an increase in the number of tourists arriving here after the decline in Covid-19 infection. With the onset of spring, the warm weather in the frosty mountains has also attracted 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"">Ram Sharan Gajurel, president of the district chapter of the Hotel Entrepreneurs' Association, Rasuwa, said that the hotels and lodges, which were closed due to snowfall, have reopened. He said that they resumed service as soon as the tourists started arriving in the area.</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 Gajurel, the arrival of tourists has given a glimmer of hope to the businessmen who thinking of giving up their business due to the heavy loss they sustained because of the impact of the pandemic.</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 hoteliers of Langtang informed that 15-20 domestic tourists and four to five foreigners have been arriving in the region daily since the last few days.</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"">With the expectation that the tourism sector will flourish in the coming days, the businessmen here have already started preparations of further strengthening the hotels and lodges along the foot trails, said Chairman Gajurel.</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"">Hari Aryal, 24, of Kapilvastu Banganga-8 said that the biodiversity during the pilgrimage to Gosainkunda, the snowfall on Wednesday and the high mountain range of western Nepal seen from Lauribinayak made the journey fascinating. </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"">Patrick, a US citizen and Nick from the UK, who came to Gosainkunda via Rasuwa Trek and Travel Tour, Thamel Kathmandu, said that many of their friends are eager to see the beauty of the Himalayan region. They said that they would complete the visit in the first and then recommend other friends to visit Rasuwa. They plan to stay in Chandanbari, Lauribinayak and Gosainkunda for a week.</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"">Gagan Raj Neupane, a tourism entrepreneur, said that mid-February to mid-June and mid-September to mid-December are the most suitable time for mountaineering. According to tourism entrepreneurs, the main attraction for tourists in the region include Gosainkunda, which holds significance from both religious and tourism point of views, as well as Langtang and Kangjen under Red Panda foot trail, and Gatlang, Nagthali, Thuman and Wriddhim areas of under the Tamang Heritage Route.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14588', 'image' => '20220228022038_Langtang-National-Park.jpg', 'article_date' => '2022-02-28 14:16:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14846', 'article_category_id' => '1', 'title' => 'Panchkhal Ready to Become the First Smart City of Nepal', 'sub_title' => '', 'summary' => 'February 28: Panchkhal municipality is set to become the first smart city of Nepal under the public-private partnership (PPP) model at a time when other smart city projects announced by the government have become uncertain. ', 'content' => '<p><span style="font-size:18px">February 28: Panchkhal municipality is set to become the first smart city of Nepal under the public-private partnership (PPP) model at a time when other smart city projects announced by the government have become uncertain. <br /> With an investment of Rs 2.5 billion, Panchkhal will soon become a smart city spread across 5,500 ropanis of land which includes land set aside for agriculture.<br /> With the consent of the locals, the Panchkhal Municipality has started the process of making a smart city with the investment from Nepal Infrastructure Bank (NIFRA) through land pooling method. Mayor of Panchkhal Municipality Mahesh Kharel informed that they have a vision to build five smart cities in Panchkhal in the next 20 years. Under this concept, an agreement has been reached to invest Rs 2.5 billion in the first phase. He said that the locals are ready to give their land for the smart city on condition that those lands remain registered in their names.<br /> Residents of Smart City Panchkhal will provide land for development of roads, parks and other structures. "A maximum of 30 to 35 percent of the land of the locals will be used for this purpose," Kharel said adding, "Besides, they will get back the land." The land will be under their own names, except for the ones used to make the structures. He said that a tripartite agreement would be reached between the bank, municipality and locals for developing this land.<br /> Nepal Infrastructure Bank Limited (NIFRA) has reached an agreement with a US-based company, JLL, to carry out a detailed study of the market for a Smart City project in Panchkhal Municipality of Kavrepalanchok district. JLL has been given two months’ time for the work. <br /> The municipality has imposed a complete ban on building houses in the paddy fields in Panchkhal so as not to destroy the cultivable land even after developing the smart city. "Smart cities will be developed in non-irrigated and non-cultivated areas," said Kharel adding, “The project does not have any concept of building a smart city on arable land and farms, but plans to save cultivable land, move settlements to the hills and develop Panchkhal as an alternative to Kathmandu.”<br /> “The company, which has developed DPRs in developed cities like Indonesia and Singapore, is now developing DPR in Panchkhal as well,” he said adding, “The city will be made a high-tech city by incorporating the basics of smart city, while managing the unorganized slums.”<br /> Five cities will be developed within Panchkhal. He said that the investment is projected to be Rs 2.5 billion for the first phase of the first smart city. <br /> "It will take 50 years to build a smart city or develop infrastructure with the central government's budget," he said adding, “That is why the process of investing and developing it through the public-private partnership (PPP) model has been taken forward. The entire investment will be mobilized by NIFRA. After the investment of NIFRA, the land will be developed in the name of the locals by signing an agreement with the locals.”<br /> He said that the concept of developing smart cities and settlements by acquiring land has failed in many places. That is why the land of the locals will be in the name of the locals. The local’s land will be developed with the investment of NIFRA and coordination of the municipality. </span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-03-01', 'keywords' => '', 'description' => '', 'sortorder' => '14587', 'image' => '20220228030732_20220206060744_urban_1630479131.jpg', 'article_date' => '2022-02-28 15:06:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14844', 'article_category_id' => '1', 'title' => 'USA says Ratification of MCC means more Jobs', 'sub_title' => '', 'summary' => 'February 28: The United States of America (USA) has welcomed the ratification of the Millennium Challenge Corporation (MCC) Compact by the parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: The United States of America (USA) has welcomed the ratification of the Millennium Challenge Corporation (MCC) Compact by the parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A day after the House of Representatives (HoR) endorsed the US-funded project, American Ambassador to Nepal Randy Berry on Monday (February 28) took to Twitter to welcome the decision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Government of Nepal’s ratification of its commitment to the $500 million Millennium Challenge Corporation (MCC) grant will mean more jobs for Nepali people and lower energy and transportation costs,” the US ambassador to Nepal tweeted.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier on Sunday, the US Embassy in Nepal issued a statement saying that the decision whether to ratify the $500 million-dollar Millennium Challenge Corporation (MCC) Nepal Compact has always rested with the Government of Nepal as a sovereign democratic nation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US embassy further said that the MCC compacts, in the nearly 20 years since its inception, have helped alleviate poverty around the world by forming partnerships with developing countries who are committed to economic freedom, investing in their citizens, and good governance, including promoting democratic principles and combatting corruption.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement, the Government of Nepal signed the MCC agreement in 2017 after determining its goals to modernize Nepal’s energy and transportation sectors with the hope of helping more than 23 million Nepalis. The Government of Nepal will now be able to continue to work towards implementing the five-year program, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This year marks the 75th year of diplomatic relations between Nepal and the United States. During these 75 years, Nepal has seen monumental and incredible changes. We have stood with Nepal through these changes and supported the country with development aid, disaster response and preparedness assistance, health, and education programs, and more.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US embassy further said that America’s relationship with Nepal is broader than one agreement and “we will continue to support the country and its democratic values and long-term economic prosperity”.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14586', 'image' => '20220228015516_randy berry.jpg', 'article_date' => '2022-02-28 13:54:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14843', 'article_category_id' => '1', 'title' => 'Consumers Bearing the Brunt of Inflation ', 'sub_title' => '', 'summary' => 'February 28: The general public has been hit hard by the continuous rise in food prices.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 28: The general public has been hit hard by the continuous rise in food prices. Lately, traders have been increasing the prices of food items under various pretexts. Prices of pulses, nuts, cooking oil, sugar, rice and other consumer goods have gone up sharply. </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 retail price of sugar, which was Rs 90 to Rs 95 some time ago, has now reached Rs 100 per kg. The cost price of sugar for traders has been fixed at Rs 90 per kg and it costs around Rs 93 to 95 when the transportation charge is 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"">"There is a problem in selling sugar even if it is sold at a profit of only Rs 5," said Pavitra Bajracharya, the former president of Nepal Retailers Association, "Currently, traders are not in a position to sell sugar at a profit." Bajracharya said that if the price increases in this way, there will be no profit from selling consumer 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"">At present, the price of all types of cooking oil has increased by Rs 30 to Rs 32 per liter. The price of sunflower oil, which used to be Rs 220 per liter, has now increased by Rs 30 and is being sold at Rs 250 per liter. The price of lentils has gone up by Rs 70 per kg in the last two months and currently cost Rs 165 per kg. The price of mixed beans including peas and soybean has also gone up by 10 to 25 percent. Similarly, the price of rice of all brands has gone up by Rs 200 per sack. </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"">Although there is no specific reason for the increase in prices now, traders have arbitrarily increased the price pointing that the increase in fuel price and freight charge. </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"">Chairman of the Association of Nepalese Rice, Oil and Pulses Industry Subodh Kumar Gupta, said that along with the rise in fuel prices, the price of raw materials in the international market has also increased. Furthermore, he said that the rise in fuel prices would increase the prices of not only food but also many other commodities in the near future. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14585', 'image' => '20220228010414_Inflation.jpg', 'article_date' => '2022-02-28 13:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14842', 'article_category_id' => '1', 'title' => 'This is how MCC will be Implemented', 'sub_title' => '', 'summary' => 'February 28: The obstacles for implementing the Millennium Challenge Corporation (MCC) compact have been removed with the ratification of the US-funded project from parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: The obstacles for implementing the Millennium Challenge Corporation (MCC) compact have been removed with the ratification of the US-funded project from parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The passage of MCC has opened doors for a grant assistance of Rs 55 billion, which will primarily be used for construction of transmission lines and roads. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Until now, the project signed in 2017 had remained uncertain because the political parties were divided over its endorsement. But now, the project is all set to be implemented in full fledge, according to the officials of the Millennium Challenge Account (MCA) Nepal. MCA Nepal is body formed by the Government of Nepal in April/May 2018 (2075 BS) under the Development Committee Act, 2013 in order to implement the projects under the MCC grant agreement. The MCC compact will be implemented by MCA Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Communication officer of MCA Nepal Rajiv Dahal said that the preparatory works for the project had slowed down because of the delay in endorsing the MCC from parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Now, the MCA Nepal, under this project, will complete the works related to land acquisition and seek within one year the permission to use forest areas. Then the EIF meeting will be held to implement the project. This meeting will fix the deadline for projects under MCC to be completed within 5 years. The MCC will release funds after this meeting as per the cost estimate submitted by MCA Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US government will provide grant assistance of US$ 500 million while the Government of Nepal will invest US$ 130 million for this project. If Nepal is not able to spend the grant pledged by the USA within 5 years, the unspent amount has to be returned back.</span></span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14584', 'image' => '20220228120455_thediplomat-2020-01-29-21.jpg', 'article_date' => '2022-02-28 12:04:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14841', 'article_category_id' => '1', 'title' => 'What does 11-point Descriptive Notes about MCC Say', 'sub_title' => '', 'summary' => 'February 28: The ruling parties announced an 11-point descriptive notes on the much debated Millennium Challenge Corporation (MCC) compact, arguing that it is focused solely on economic cooperation and development of physical infrastructures.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 28: The ruling parties announced an 11-point descriptive notes on the much debated Millennium Challenge Corporation (MCC) compact, arguing that it is focused solely on economic cooperation and development of physical infrastructures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the announcement, the ruling parties stated that the MCC compact, upon its endorsement, would not be regarded as an agreement having link to any strategic or military alliance including the US Indo-Pacific Strategy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the explanatory notes, the auditing of MCC would be conducted by the Office of Auditor General; the intellectual property gained from the project would be of Nepal; no agreement would be above the Constitution of Nepal; and the project would be directed as per Nepal's constitution. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The descriptive notes were made public on Sunday (February 28) after a meeting of the ruling parties held at prime minister's official residence in Baluwatar. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In relation to section 2.7, section 5.2 (b.3), section 5.2 (b.4) of the MCC compact, Nepal has the understanding that these provisions are effective only for the use of the grant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, other provisions would not make Nepal mandatory to abide by the existing or the future US laws or policies in any purpose except the use of MCC grant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, in regard to section 3.2 (b) of the MCC compact, the 11-point notes issued by the political parties has made it clear that the activities to be run from the MCC compact Nepal Development Committee shall be guided by the laws of Nepal. The MCC would not have ownership in the intellectual property right while Nepal will own the entire intellectual property rights and Nepal will fully utilise this. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The descriptive notes also states that the Constitution of Nepal shall prevail over the compact and implementation of the programmes under this project would be carried out as per the laws of Nepal and the compact. All the movable and immovable properties and land plots of the projects would remain under the ownership of the Government of Nepal and its line agencies, the notes further mentioned. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14583', 'image' => '20220228112208_MCC.jpg', 'article_date' => '2022-02-28 11:21:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14840', 'article_category_id' => '1', 'title' => 'Parliament Ratifies MCC Compact ', 'sub_title' => '', 'summary' => 'February 28: After much debate and deliberations, the House of Representatives has finally ratified the Millennium Challenge Corporation (MCC) grant agreement reached between Nepal and the US government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: After much debate and deliberations, the House of Representatives has finally ratified the Millennium Challenge Corporation (MCC) grant agreement reached between Nepal and the US government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second meeting of the HoR ratified the MCC compact on Sunday evening (February 27). Finance Minister Janardan Sharma had presented the proposal seeking the passage of the MCC compact along with descriptive notes. The proposal was passed by voice vote. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The main opposition, CPN UML, continued its protest over non-implementation of its decision. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, taking part in the discussion on finance minister's proposal seeking ratification of the MCC compact along with descriptive notes, the lawmakers put forth views for and against the MCC compact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lawmaker Parbata Bisankhe said the descriptive notes of the MCC compact should be approved in letter and spirit, adding that the US government too should accept it. Bisankhe said Nepal should scrap it otherwise. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, lawmaker of Rastriya Janamorcha Durga Poudel argued that the descriptive notes were one-sided and the MCC compact was against the spirit of nationalism and national sovereignty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">UML lawmaker Bhim Rawal also questioned the one-sided descriptive notes, stating that it created illusion among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Nepali Congress (NC) whip Pushpa Bhusal believed that the MCC would help strengthen Nepal's economy and support in development of infrastructures in the country. Bhusal said it while taking part in the deliberation on the proposal, seeking ratification of MCC compact in the second meeting of the House of Representatives (HoR). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She argued that a total of 46 countries across the world had inked MCC agreement with he USA and there was not a single case of military alliance relating to the MCC. She also commented that the descriptive notes on the MCC were positive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MP Prem Suwal, however, protested the MCC agreement and demanded it be withdrawn. Matrika Prasad Yadav said that descriptive notes were a part of the MCC internationally. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Dr Minendra Rijal of Nepali Congress expressed his confidence that the descriptive notes would help dispel the misleading information about the MCC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (Unified Socialist) lawmaker Jivan Ram Shrestha said that the descriptive notes on the MCC were positive and the American side should also mandatorily abide by it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (Maoist Centre) lawmaker Girirajmani Pokharel viewed that more light should be thrown on the MCC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The next meeting of parliament is scheduled for February 30. -- RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14582', 'image' => '20220228110858_Parliament.jpg', 'article_date' => '2022-02-28 06:51:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14839', 'article_category_id' => '1', 'title' => 'Shipments from Ukraine Cancelled as War Escalates', 'sub_title' => '', 'summary' => 'February 27: Russian invasion of Ukraine has caused obstruction in the supply of raw materials required for producing cooking oil and poultry feed to Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: Russian invasion of Ukraine has caused obstruction in the supply of raw materials required for producing cooking oil and poultry feed to Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali importers say that the consignments of unrefined sunflower and soybean oil from Ukraine have been cancelled due to the outbreak of the war. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nikhil Chachan, operator of Narayani Oil, says that the supply of raw materials had been delayed during the build-up to the war and the consignments have completely stopped with the onset of war. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">More than a dozen industries that manufacture cooking oil in Nepal are dependent on Ukraine for raw materials. The shipments of raw materials have been stuck at the ports after Russia launched an attack on Ukraine last Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Operator of OCB Foods, Suresh Rungata, says that the shipping companies have started cancelling the orders citing extraordinary situation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The ships that were ready to sail with the raw materials have been stuck at the ports following the Russian invasion,” said Rungata, adding, “It is not certain when things will return back to normalcy.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal imports more than 80 percent of unprocessed product required for producing oil from Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Industrialist Chachan says that the quality of mustard produced in Ukraine are better than anywhere else and therefore it falls in their first choice category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Rungata says that all the industries keep a stock of 10 to 15 percent of raw materials and therefore the market will not face immediate shortage of cooking oil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The industries have stock enough for 1 or 2 days. The shipment at Kolkata port will be enough for another 10/12 days. There might be some problem is supply after that,” says Rungata.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another industrialist Om Prakash More says that if the Russia-Ukraine war gets prolonged, there will be a major problem in supply of cooking oil, wheat, maize, petroleum products among others. He further said that inflation is imminent due to the short-supply. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other businessmen say that that even if the war ends it will take some time for Ukraine to recover from its impact and the supply chain will not improve anytime soon. </span></span></p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14581', 'image' => '20220227070707_Foreign Trade.jpg', 'article_date' => '2022-02-27 19:06:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14837', 'article_category_id' => '1', 'title' => 'Government Ready for Policy Reforms to Attract Foreign Investment', 'sub_title' => '', 'summary' => 'February 27: The government has started homework of policy improvement to attract foreign investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: The government has started homework of policy improvement to attract foreign investment. Currently, Nepal is not able to attract lucrative foreign investment into the country. Thus, the government has taken a step towards policy improvement to bring foreign investment as well as technologies. In this regard, the government is preparing to reduce the time period for process involved in foreign investment. In addition to this, the government is also preparing to make amendments to the Foreign Enterprise and Technology Transfer Rules.</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 Foreign Investment and Technology Transfer Rules 2077, which was approved and implemented by the Council of Ministers in December last year, had set a minimum limit of Rs 50 million for foreign investment. The time limit was also set when such a limit was fixed. </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"">Accordingly, the process of bringing investment should be started within one year. Foreign investors who pledge to invest Rs 50 million should bring 25 percent of the investment within one year. Similarly, investors who pledge to invest Rs 250 million should bring 15 percent of the pledged amount within a year and investors investing Rs 1 billion are required to bring 10 percent within one year while the investors investing above Rs 1 billion are required to bring 5 percentage of committed amount within a year. No such date was fixed before this arrangement was made.</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 private sector had been protesting against the regulations arguing that the provision in the regulations was not practical.</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 government has formed a study committee headed by Ram Chandra Tiwari, Director General of the Department of Industry, to amend the regulations. The committee, which was formed a month ago, has started the study process and has been mandated from the Ministry of Industry, Commerce and Supplies to prepare a report with suggestions for amendment.</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"">Tiwari, the head of the study committee, said that the committee has already started its work. "We will study the need to amend the current rules in detail and submit a report soon," he told New Business Age. </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 Ministry of Industry says that the process of amendment will move forward after it receives the report from the study committee. The private sector and investors have been complaining that they are embarrassed by the time limit and time set by the government for foreign investment.</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 Confederation of Nepalese Industries (CNI) has been demanding removal of the minimum limit for foreign investors since the introduction of such an arrangement. "In order to encourage foreign investment, the minimum limit should be removed," the CNI said in a recent statement. The number of foreign-invested industries in Nepal has reached 5,366 now.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">What is the commitment of foreign investment in Nepal?</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the first six months of the current Fiscal Year 2078/79, a total of 129 new industries with foreign investment have been registered in Nepal. According to the Department of Industry, with the new industries registered, the total number of industries with foreign investment in Nepal has reached 5,366. There are 319 large, 566 medium and 4,481 small industries registered with foreign investment in Nepal. As of mid-January, Nepal has received foreign investment commitment of Rs 31.53 billion.</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 the Department of Industry, foreign investment commitment of Rs 24.23 billion was made in the corresponding period of the previous fiscal year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14580', 'image' => '20220227052247_20160222122813_ep3.jpg', 'article_date' => '2022-02-27 17:21:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14838', 'article_category_id' => '1', 'title' => 'ICRA Gives AA+ Rating to NEA ', 'sub_title' => '', 'summary' => 'February 27: ICRA Nepal Limited, a credit rating agency in Nepal, has assigned ICRA NP Issuer Rating double A plus to the state-owned Nepal Electricity Authority (NEA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: ICRA Nepal Limited, a credit rating agency in Nepal, has assigned ICRA NP Issuer Rating double A plus to the state-owned Nepal Electricity Authority (NEA). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Companies with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such companies carry very low credit risk. The rating is only an opinion on the general creditworthiness of the rated entity and not specific to any particular debt instrument. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Commenting on the rating, the NEA Executive Director Kulman Ghising said this rating means NEA is considered to have a high degree of safety concerning timely servicing of its financial obligations. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The NEA has taken out loans from multi-sectoral development partners like the World Bank and the Asian Development Bank with Government of Nepal as the guarantor. Now with this rating, it can directly seek and take out loans from such partners with its institutional guarantee," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On issuing initial public offering to the public, Ghising said discussions with the government were underway in this regard. "Now we will take forward the process of issuing IPO to the general public as per the law and with the government's consent." The NEA has posted a profit of Rs 12 billion in six months of the current fiscal year (FY 2021/22). -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14579', 'image' => '20220227053453_NEA.jpg', 'article_date' => '2022-02-27 17:33:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14836', 'article_category_id' => '1', 'title' => 'HoR Begins Deliberations on MCC Compact ', 'sub_title' => 'Ruling Coalition Agrees to Ratify MCC with Explanatory Note', 'summary' => 'February 27: The House of Representatives (HoR) has commenced its business amid protest from lawmakers of the main opposition party CPN UML.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: The House of Representatives (HoR) has commenced its business amid protest from lawmakers of the main opposition party CPN UML.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaker Agni Prasad Sapkota announced the commencement of the meeting business amidst protest from opposition MPs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, Minister for Law, Justice and Parliamentary Affairs Dilendra Prasad Badu presented the annual report of the Office of Auditor General for the fiscal year 2077-78 BS, on behalf of Prime Minister Sher Bahadur Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Finance Minister Janardan Sharma tabled a proposal seeking general deliberations on the proposal to endorse the US-funded Millennium Challenge Corporation (MCC) compact. Earlier, a meeting of the ruling alliance held at the Prime Minister's official residence in Baluwatar today morning (February 27) decided to endorse the American project through parliament along with an “explanatory declaration”. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking to the media after the meeting, Nepali Congress leader Ram Chandra Poudel said that the meeting of the ruling alliance has decided that the House of Representatives will ratify the MCC after the government makes it clear that the compact is not under any military organisation but purely an economic assistance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Present in the meeting were Prime Minister and Nepali Congress president Sher Bahadur Deuba, CPN (Maoist Centre) chair Pushpa Kamal Dahal, CPN (Unified Socialist) chair Madhav Kumar Nepal, Janata Samjabadi Party chair Upendra Yadav among the leaders of the ruling coalition. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Signed in 2017, the US$ 55 billion project will construct transmission lines and roads in Nepal if endorsed by the parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The then government led by then prime minister KP Sharma Oli had decided to table the MCC agenda in parliament on February 8, 2019. Similarly, the then Finance Minister Dr Yuba Raj Khatiwada had presented MCC compact in the parliament on July 15, 2019 for its passage. However, the ratification of MCC had remained stalled due to the differences among the political parties. But now, a meeting of the CPN (Maoist Centre) today morning also decided to ratify the MCC along with an explanatory note. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The parliament meeting continues theoretical discussions over the MCC, according to the state-owned national news agency RSS. The government has beefed up security in New Baneshwar area anticipating protests over the MCC issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The extended deadline for endorsing the MCC is February 28. (With inputs from RSS) </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14578', 'image' => '20220227035518_MCC.jpg', 'article_date' => '2022-02-27 15:54:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14835', 'article_category_id' => '1', 'title' => 'Nepal Imports Mustard from Australia instead of Ukraine ', 'sub_title' => '', 'summary' => 'February 27: The Russian invasion of Ukraine has affected the world economy, including Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: The Russian invasion of Ukraine has affected the world economy, including Nepal. The price of sunflower and soybean imported from Ukraine has gone up by 30 to 60 percent per tonne. Industrialists have estimated that the price of cooking oil in Nepal will increase by up to Rs 100 per litre within the next one month.</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 price of mustard, which was ordered from Ukraine by domestic oil industry operator Shravan Kumar Agrawal, has recently increased by USD 30 per ton. Due to the war, it was not possible to order additional consignment of mustard from Ukraine, so the industrialist had to order mustard from Australia, where it costs an additional USD 60 per ton. </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 price of mustard oil may increase by as much as Rs 100 due to price hike of mustard seeds, increase in transportation fare and the delay consignment delivery," said Agrawal.</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"">At present, the retail price of mustard oil is Rs 300 per liter. He estimates that the price will reach Rs 400 in a month. Sunflower oil costs Rs 260 per liter. It is expected to increase to Rs 360. The current retail price of soybean oil is Rs 250 per liter, which is expected to cost Rs 350 per liter soon.</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"">Russia's conflict with Ukraine has caused impacts on various sectors globally. Entrepreneurs said that increase in coal price will increase the production cost of the brick and cement industries.</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 Bhim Ghimire, president of Province 1 chapter of the Confederation of Nepalese Industries, the price of coal has also been affected by the Russia-Ukraine war. Traders at the Kolkata port, who have been supplying coal to Nepal, say that the price of coal has gone up by USD 30 per ton. The price of coal was USD 200 per ton a year ago, and has now reached USD 230 per ton. According to Ghimire, the price is expected to reach USD 250 per ton.</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"">Ukraine supplies most of the raw materials required to produce sunflower oil in Nepal. Only a few percent comes from Russia and Australia. The price of soybean and sunflower is comparatively cheaper in Ukraine than in other countries. </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"">Nanda Kishore Rathi, vice-president of the Morang Chamber of Commerce, said that the price of crude oil, which used to cost USD 1,500 per tonne, has now risen by USD 30 to 300.</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"">Nepal has imported 445,000 kg of raw material of mustard oil worth Rs 3.95 billion in the last seven months, while 57.36 million kg of crude oil worth Rs 9.51 billion has been imported from Ukraine.</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"">Along with Ukraine, Russia has also exported goods worth Rs 151.1 million to Nepal in the last seven months and imported goods worth Rs 4.31 billion, according to the Department of Customs. During this period, Nepal imported printing paper, automobiles, chemicals (sodium phosphate), animal vaccines, shampoos, baby lotions, and cosmetics from Russia. Carpets worth Rs 73.9 million, tea leaves worth Rs 61.3 million, hangers for clothes worth Rs 1.1 million, and Yarsagumba worth Rs 6.5 million were exported to Russia.</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 war between Russia and Ukraine has pushed up the price of gold and petroleum products, said Navin Rijal, president of the Morang Merchants’ Association. He informed that the price of gold in Nepal increased by Rs 2500 per 11.6 grams on Thursday and decreased by Rs 1000 on Friday. The price of crude oil, which had reached USD 105 per barrel, had reached USD 97.2 at midnight on Friday.</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 Russia is the second-largest producer of petroleum products internationally, fluctuations in prices are likely to push up the price of petrol, diesel, kerosene, aviation fuel, and cooking gas in Nepal, Rijal said.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14577', 'image' => '20220227015131_1501009175_7.jpg', 'article_date' => '2022-02-27 13:50:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14834', 'article_category_id' => '1', 'title' => 'Family Members Concerned about Safety of Nepalis in Ukraine ', 'sub_title' => '', 'summary' => 'February 27: Family members of Nepali citizens living in Ukraine have expressed concerns regarding their safety after Russia began invading various cities of Ukraine. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: Family members of Nepali citizens living in Ukraine have expressed concerns regarding their safety after Russia began invading various cities of Ukraine. </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"">So far, 193 Nepalis living in Ukraine have come in contact with Nepal’s embassy in Germany that is in charge of looking after affairs related to Russia. It is estimated that there are around 240 Nepali nationals studying and working in Ukraine. However, the vice president of the Non-Resident Nepalese Association (NRNA), Dr Badri KC informed that there are around 400 Nepalis living in Ukraine. "Even though Nepalis are safe till now, we are still concernd about relocating them," 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"">The embassy has requested those in contact to move to a safer location in the west and stay in touch as the attack is currently taking place only in the eastern parts of the country. Advocate and labor and immigration expert Som Luintel, who has been providing assistance to those in need during foreign employment, said that the government should give priority to rescue those in contact even if their condition is said to be safe. </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 price of crude oil has been sharply rising in the world market due to the war between Russia and Ukraine. Russia is one of the top oil suppliers in the world. Brent crude rose to its highest level since 2014, following fears of an impact on Russian oil supplies on Thursday. </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"">Economists and market analysts estimate that crude oil prices could reach $150 a barrel, with worse conditions expected. </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 a result of the war, prices of gold and other commodities are expected to rise. Russia and Ukraine are the world's leading food suppliers. Russia and Ukraine account for 29 percent of the world's total wheat trade. The supply of 19 percent maize also come from these two countries. </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"">About 80 percent of supply of sunflower oil in the world market comes from Russia and Ukraine. Prices of food items including wheat, maize and soybeans have skyrocketed in the world market since mid-February due to rising tensions between Russia and Ukraine. As a result of the war, the prices of palm oil and soybean oil have also increased along with sunflower oil. </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"">Economist Dr Poshraj Pandey says that Nepal will face indirect impact of the Ukraine war. He said that as Nepal's economy is import-oriented, inflation will rise when there is a problem in global supply chain. Recently, the United States, the United Kingdom and other countries have increased their assistance to 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"">“If the situation worsens, the donors might cut grant assistance to Nepal in order to manage expenses for the war,” he added.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14576', 'image' => '20220227123233_NRNA.jpg', 'article_date' => '2022-02-27 12:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14833', 'article_category_id' => '1', 'title' => 'IPPAN Welcomes Decision taken by Nepal-India JSC Meeting', 'sub_title' => '', 'summary' => 'February 27: The Independent Power Producers' Association of Nepal has welcomed the agreement reached between Nepal and India during the recently held Secretary-Level Joint Steering Committee meeting. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: The Independent Power Producers' Association of Nepal has welcomed the agreement reached between Nepal and India during the recently held Secretary-Level Joint Steering Committee meeting. </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"">Issuing a statement on Friday, IPPAN Chair Krishna Prasad Acharya expressed hope that the agreement between Nepal and India would add a new dimension to the country's electricity trade and would further consolidate mutual relations between Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the meeting has created a base for Nepal to export power up to Bangladesh, IPPAN said such an agreement would play an important role in the development of electricity in 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"">IPPAN further said that the decisions taken by the meeting would help promote investment in the energy sector and big projects as well as transmission lines and also improve inter-state energy trade. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14575', 'image' => '20220227082509_aaa.jpg', 'article_date' => '2022-02-27 08:22:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14831', 'article_category_id' => '1', 'title' => 'Sauraha Starts Bustling with Tourists ', 'sub_title' => '', 'summary' => 'February 25: Sauraha, one of the prime tourist destinations in Nepal, has seen arrival of foreign tourists after a long gap.', '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"">February 25: Sauraha, one of the prime tourist destinations in Nepal, has seen arrival of foreign tourists after a long gap. The tourism sector, which has slowed down due to the impact of Covid-19, is now showing signs of recovery. European tourists in particular have started coming to Sauraha after a long time, according to the hoteliers of the region.</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"">"Booking of Indian tourists is also good," said Deepak Bhattarai, president of the Chitwan Regional Hotel Association. </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"">During this time of the year, hotel occupancy in Sauraha used to be 90 percent but it is just 14 percent at present, says Bhattarai.</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"">“But the good news is that foreign tourists have started coming.” </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 Suman Ghimire, the manager of Jungle Safari Lodge, tourists from Germany, the Netherland, Israel, and other countries have started coming. He is hopeful that the tourism sector will be back to normal business from coming October as the number of inquiries has increased.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“With the decline in risk of Covid-19, there has been an improvement in hotel bookings for seminars and meetings,” he said, adding</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">, “Foreign tourists have been seen sporadically after a long time. Nowadays, they also come in groups.”</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"">Ghimire, who is also a former president of the Regional Hotel Association Chitwan, estimates that the number of foreign tourists visiting Nepal would improve significantly by 2023. Foreign tourists have started riding elephants in community forests, including Chitwan National Park, he further said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rishi Tiwari, chairman of the United Elephant Management Cooperative, which has been managing elephants, said that especially Asian tourists have started coming to ride elephants. There are 31 elephants with the cooperative. Among them, 20 to 25 of them have started getting daily work.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> He says that tourists from Nepal, India, and third countries have started coming to the area. Similarly, elephant safari is available in the Baghmara Community Forest. The chairman of the committee Jit Bahadur Tamang also confirmed that foreign tourists have started arriving.</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"">Santosh Giri, chief executive officer of Hotel Jungle Crown, said hotel has been almost booked for weekends.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from sight-seeing, visitors also come here for weddings and other big gatherings. Sauraha has become a popular choice among tourists as it is possible to book a good hotel room at an affordable price.</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"">As Chitwan is located in the middle of the country, big organizations often hold trainings, meetings, and conferences here. Mostly, Indians come here for weddings. </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"">There are 120 hotels in Sauraha. These hotels can accommodate up to five thousand five hundred tourists. Entrepreneurs say that the hotels here have received huge investments in recent years.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-25', 'modified' => '2022-02-25', 'keywords' => '', 'description' => '', 'sortorder' => '14574', 'image' => '20220225053240_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2022-02-25 17:31:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14845', 'article_category_id' => '1', 'title' => 'Arrival of Tourists up in Langtang', 'sub_title' => '', 'summary' => 'February 28: Langtang and the Gosainkunda foot trails, where tourism activities were silent due to Covid-19 infection, has now started receiving foreign tourists.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 28: Langtang and the Gosainkunda foot trails, where tourism activities were silent due to Covid-19 infection, has now started receiving foreign tourists. There has been an increase in the number of tourists arriving here after the decline in Covid-19 infection. With the onset of spring, the warm weather in the frosty mountains has also attracted 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"">Ram Sharan Gajurel, president of the district chapter of the Hotel Entrepreneurs' Association, Rasuwa, said that the hotels and lodges, which were closed due to snowfall, have reopened. He said that they resumed service as soon as the tourists started arriving in the area.</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 Gajurel, the arrival of tourists has given a glimmer of hope to the businessmen who thinking of giving up their business due to the heavy loss they sustained because of the impact of the pandemic.</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 hoteliers of Langtang informed that 15-20 domestic tourists and four to five foreigners have been arriving in the region daily since the last few days.</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"">With the expectation that the tourism sector will flourish in the coming days, the businessmen here have already started preparations of further strengthening the hotels and lodges along the foot trails, said Chairman Gajurel.</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"">Hari Aryal, 24, of Kapilvastu Banganga-8 said that the biodiversity during the pilgrimage to Gosainkunda, the snowfall on Wednesday and the high mountain range of western Nepal seen from Lauribinayak made the journey fascinating. </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"">Patrick, a US citizen and Nick from the UK, who came to Gosainkunda via Rasuwa Trek and Travel Tour, Thamel Kathmandu, said that many of their friends are eager to see the beauty of the Himalayan region. They said that they would complete the visit in the first and then recommend other friends to visit Rasuwa. They plan to stay in Chandanbari, Lauribinayak and Gosainkunda for a week.</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"">Gagan Raj Neupane, a tourism entrepreneur, said that mid-February to mid-June and mid-September to mid-December are the most suitable time for mountaineering. According to tourism entrepreneurs, the main attraction for tourists in the region include Gosainkunda, which holds significance from both religious and tourism point of views, as well as Langtang and Kangjen under Red Panda foot trail, and Gatlang, Nagthali, Thuman and Wriddhim areas of under the Tamang Heritage Route.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14588', 'image' => '20220228022038_Langtang-National-Park.jpg', 'article_date' => '2022-02-28 14:16:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14846', 'article_category_id' => '1', 'title' => 'Panchkhal Ready to Become the First Smart City of Nepal', 'sub_title' => '', 'summary' => 'February 28: Panchkhal municipality is set to become the first smart city of Nepal under the public-private partnership (PPP) model at a time when other smart city projects announced by the government have become uncertain. ', 'content' => '<p><span style="font-size:18px">February 28: Panchkhal municipality is set to become the first smart city of Nepal under the public-private partnership (PPP) model at a time when other smart city projects announced by the government have become uncertain. <br /> With an investment of Rs 2.5 billion, Panchkhal will soon become a smart city spread across 5,500 ropanis of land which includes land set aside for agriculture.<br /> With the consent of the locals, the Panchkhal Municipality has started the process of making a smart city with the investment from Nepal Infrastructure Bank (NIFRA) through land pooling method. Mayor of Panchkhal Municipality Mahesh Kharel informed that they have a vision to build five smart cities in Panchkhal in the next 20 years. Under this concept, an agreement has been reached to invest Rs 2.5 billion in the first phase. He said that the locals are ready to give their land for the smart city on condition that those lands remain registered in their names.<br /> Residents of Smart City Panchkhal will provide land for development of roads, parks and other structures. "A maximum of 30 to 35 percent of the land of the locals will be used for this purpose," Kharel said adding, "Besides, they will get back the land." The land will be under their own names, except for the ones used to make the structures. He said that a tripartite agreement would be reached between the bank, municipality and locals for developing this land.<br /> Nepal Infrastructure Bank Limited (NIFRA) has reached an agreement with a US-based company, JLL, to carry out a detailed study of the market for a Smart City project in Panchkhal Municipality of Kavrepalanchok district. JLL has been given two months’ time for the work. <br /> The municipality has imposed a complete ban on building houses in the paddy fields in Panchkhal so as not to destroy the cultivable land even after developing the smart city. "Smart cities will be developed in non-irrigated and non-cultivated areas," said Kharel adding, “The project does not have any concept of building a smart city on arable land and farms, but plans to save cultivable land, move settlements to the hills and develop Panchkhal as an alternative to Kathmandu.”<br /> “The company, which has developed DPRs in developed cities like Indonesia and Singapore, is now developing DPR in Panchkhal as well,” he said adding, “The city will be made a high-tech city by incorporating the basics of smart city, while managing the unorganized slums.”<br /> Five cities will be developed within Panchkhal. He said that the investment is projected to be Rs 2.5 billion for the first phase of the first smart city. <br /> "It will take 50 years to build a smart city or develop infrastructure with the central government's budget," he said adding, “That is why the process of investing and developing it through the public-private partnership (PPP) model has been taken forward. The entire investment will be mobilized by NIFRA. After the investment of NIFRA, the land will be developed in the name of the locals by signing an agreement with the locals.”<br /> He said that the concept of developing smart cities and settlements by acquiring land has failed in many places. That is why the land of the locals will be in the name of the locals. The local’s land will be developed with the investment of NIFRA and coordination of the municipality. </span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-03-01', 'keywords' => '', 'description' => '', 'sortorder' => '14587', 'image' => '20220228030732_20220206060744_urban_1630479131.jpg', 'article_date' => '2022-02-28 15:06:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14844', 'article_category_id' => '1', 'title' => 'USA says Ratification of MCC means more Jobs', 'sub_title' => '', 'summary' => 'February 28: The United States of America (USA) has welcomed the ratification of the Millennium Challenge Corporation (MCC) Compact by the parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: The United States of America (USA) has welcomed the ratification of the Millennium Challenge Corporation (MCC) Compact by the parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A day after the House of Representatives (HoR) endorsed the US-funded project, American Ambassador to Nepal Randy Berry on Monday (February 28) took to Twitter to welcome the decision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Government of Nepal’s ratification of its commitment to the $500 million Millennium Challenge Corporation (MCC) grant will mean more jobs for Nepali people and lower energy and transportation costs,” the US ambassador to Nepal tweeted.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier on Sunday, the US Embassy in Nepal issued a statement saying that the decision whether to ratify the $500 million-dollar Millennium Challenge Corporation (MCC) Nepal Compact has always rested with the Government of Nepal as a sovereign democratic nation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US embassy further said that the MCC compacts, in the nearly 20 years since its inception, have helped alleviate poverty around the world by forming partnerships with developing countries who are committed to economic freedom, investing in their citizens, and good governance, including promoting democratic principles and combatting corruption.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement, the Government of Nepal signed the MCC agreement in 2017 after determining its goals to modernize Nepal’s energy and transportation sectors with the hope of helping more than 23 million Nepalis. The Government of Nepal will now be able to continue to work towards implementing the five-year program, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This year marks the 75th year of diplomatic relations between Nepal and the United States. During these 75 years, Nepal has seen monumental and incredible changes. We have stood with Nepal through these changes and supported the country with development aid, disaster response and preparedness assistance, health, and education programs, and more.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US embassy further said that America’s relationship with Nepal is broader than one agreement and “we will continue to support the country and its democratic values and long-term economic prosperity”.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14586', 'image' => '20220228015516_randy berry.jpg', 'article_date' => '2022-02-28 13:54:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14843', 'article_category_id' => '1', 'title' => 'Consumers Bearing the Brunt of Inflation ', 'sub_title' => '', 'summary' => 'February 28: The general public has been hit hard by the continuous rise in food prices.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 28: The general public has been hit hard by the continuous rise in food prices. Lately, traders have been increasing the prices of food items under various pretexts. Prices of pulses, nuts, cooking oil, sugar, rice and other consumer goods have gone up sharply. </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 retail price of sugar, which was Rs 90 to Rs 95 some time ago, has now reached Rs 100 per kg. The cost price of sugar for traders has been fixed at Rs 90 per kg and it costs around Rs 93 to 95 when the transportation charge is 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"">"There is a problem in selling sugar even if it is sold at a profit of only Rs 5," said Pavitra Bajracharya, the former president of Nepal Retailers Association, "Currently, traders are not in a position to sell sugar at a profit." Bajracharya said that if the price increases in this way, there will be no profit from selling consumer 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"">At present, the price of all types of cooking oil has increased by Rs 30 to Rs 32 per liter. The price of sunflower oil, which used to be Rs 220 per liter, has now increased by Rs 30 and is being sold at Rs 250 per liter. The price of lentils has gone up by Rs 70 per kg in the last two months and currently cost Rs 165 per kg. The price of mixed beans including peas and soybean has also gone up by 10 to 25 percent. Similarly, the price of rice of all brands has gone up by Rs 200 per sack. </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"">Although there is no specific reason for the increase in prices now, traders have arbitrarily increased the price pointing that the increase in fuel price and freight charge. </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"">Chairman of the Association of Nepalese Rice, Oil and Pulses Industry Subodh Kumar Gupta, said that along with the rise in fuel prices, the price of raw materials in the international market has also increased. Furthermore, he said that the rise in fuel prices would increase the prices of not only food but also many other commodities in the near future. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14585', 'image' => '20220228010414_Inflation.jpg', 'article_date' => '2022-02-28 13:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14842', 'article_category_id' => '1', 'title' => 'This is how MCC will be Implemented', 'sub_title' => '', 'summary' => 'February 28: The obstacles for implementing the Millennium Challenge Corporation (MCC) compact have been removed with the ratification of the US-funded project from parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: The obstacles for implementing the Millennium Challenge Corporation (MCC) compact have been removed with the ratification of the US-funded project from parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The passage of MCC has opened doors for a grant assistance of Rs 55 billion, which will primarily be used for construction of transmission lines and roads. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Until now, the project signed in 2017 had remained uncertain because the political parties were divided over its endorsement. But now, the project is all set to be implemented in full fledge, according to the officials of the Millennium Challenge Account (MCA) Nepal. MCA Nepal is body formed by the Government of Nepal in April/May 2018 (2075 BS) under the Development Committee Act, 2013 in order to implement the projects under the MCC grant agreement. The MCC compact will be implemented by MCA Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Communication officer of MCA Nepal Rajiv Dahal said that the preparatory works for the project had slowed down because of the delay in endorsing the MCC from parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Now, the MCA Nepal, under this project, will complete the works related to land acquisition and seek within one year the permission to use forest areas. Then the EIF meeting will be held to implement the project. This meeting will fix the deadline for projects under MCC to be completed within 5 years. The MCC will release funds after this meeting as per the cost estimate submitted by MCA Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US government will provide grant assistance of US$ 500 million while the Government of Nepal will invest US$ 130 million for this project. If Nepal is not able to spend the grant pledged by the USA within 5 years, the unspent amount has to be returned back.</span></span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14584', 'image' => '20220228120455_thediplomat-2020-01-29-21.jpg', 'article_date' => '2022-02-28 12:04:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14841', 'article_category_id' => '1', 'title' => 'What does 11-point Descriptive Notes about MCC Say', 'sub_title' => '', 'summary' => 'February 28: The ruling parties announced an 11-point descriptive notes on the much debated Millennium Challenge Corporation (MCC) compact, arguing that it is focused solely on economic cooperation and development of physical infrastructures.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 28: The ruling parties announced an 11-point descriptive notes on the much debated Millennium Challenge Corporation (MCC) compact, arguing that it is focused solely on economic cooperation and development of physical infrastructures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the announcement, the ruling parties stated that the MCC compact, upon its endorsement, would not be regarded as an agreement having link to any strategic or military alliance including the US Indo-Pacific Strategy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the explanatory notes, the auditing of MCC would be conducted by the Office of Auditor General; the intellectual property gained from the project would be of Nepal; no agreement would be above the Constitution of Nepal; and the project would be directed as per Nepal's constitution. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The descriptive notes were made public on Sunday (February 28) after a meeting of the ruling parties held at prime minister's official residence in Baluwatar. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In relation to section 2.7, section 5.2 (b.3), section 5.2 (b.4) of the MCC compact, Nepal has the understanding that these provisions are effective only for the use of the grant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, other provisions would not make Nepal mandatory to abide by the existing or the future US laws or policies in any purpose except the use of MCC grant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, in regard to section 3.2 (b) of the MCC compact, the 11-point notes issued by the political parties has made it clear that the activities to be run from the MCC compact Nepal Development Committee shall be guided by the laws of Nepal. The MCC would not have ownership in the intellectual property right while Nepal will own the entire intellectual property rights and Nepal will fully utilise this. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The descriptive notes also states that the Constitution of Nepal shall prevail over the compact and implementation of the programmes under this project would be carried out as per the laws of Nepal and the compact. All the movable and immovable properties and land plots of the projects would remain under the ownership of the Government of Nepal and its line agencies, the notes further mentioned. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14583', 'image' => '20220228112208_MCC.jpg', 'article_date' => '2022-02-28 11:21:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14840', 'article_category_id' => '1', 'title' => 'Parliament Ratifies MCC Compact ', 'sub_title' => '', 'summary' => 'February 28: After much debate and deliberations, the House of Representatives has finally ratified the Millennium Challenge Corporation (MCC) grant agreement reached between Nepal and the US government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: After much debate and deliberations, the House of Representatives has finally ratified the Millennium Challenge Corporation (MCC) grant agreement reached between Nepal and the US government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second meeting of the HoR ratified the MCC compact on Sunday evening (February 27). Finance Minister Janardan Sharma had presented the proposal seeking the passage of the MCC compact along with descriptive notes. The proposal was passed by voice vote. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The main opposition, CPN UML, continued its protest over non-implementation of its decision. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, taking part in the discussion on finance minister's proposal seeking ratification of the MCC compact along with descriptive notes, the lawmakers put forth views for and against the MCC compact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lawmaker Parbata Bisankhe said the descriptive notes of the MCC compact should be approved in letter and spirit, adding that the US government too should accept it. Bisankhe said Nepal should scrap it otherwise. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, lawmaker of Rastriya Janamorcha Durga Poudel argued that the descriptive notes were one-sided and the MCC compact was against the spirit of nationalism and national sovereignty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">UML lawmaker Bhim Rawal also questioned the one-sided descriptive notes, stating that it created illusion among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Nepali Congress (NC) whip Pushpa Bhusal believed that the MCC would help strengthen Nepal's economy and support in development of infrastructures in the country. Bhusal said it while taking part in the deliberation on the proposal, seeking ratification of MCC compact in the second meeting of the House of Representatives (HoR). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She argued that a total of 46 countries across the world had inked MCC agreement with he USA and there was not a single case of military alliance relating to the MCC. She also commented that the descriptive notes on the MCC were positive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MP Prem Suwal, however, protested the MCC agreement and demanded it be withdrawn. Matrika Prasad Yadav said that descriptive notes were a part of the MCC internationally. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Dr Minendra Rijal of Nepali Congress expressed his confidence that the descriptive notes would help dispel the misleading information about the MCC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (Unified Socialist) lawmaker Jivan Ram Shrestha said that the descriptive notes on the MCC were positive and the American side should also mandatorily abide by it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (Maoist Centre) lawmaker Girirajmani Pokharel viewed that more light should be thrown on the MCC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The next meeting of parliament is scheduled for February 30. -- RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14582', 'image' => '20220228110858_Parliament.jpg', 'article_date' => '2022-02-28 06:51:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14839', 'article_category_id' => '1', 'title' => 'Shipments from Ukraine Cancelled as War Escalates', 'sub_title' => '', 'summary' => 'February 27: Russian invasion of Ukraine has caused obstruction in the supply of raw materials required for producing cooking oil and poultry feed to Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: Russian invasion of Ukraine has caused obstruction in the supply of raw materials required for producing cooking oil and poultry feed to Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali importers say that the consignments of unrefined sunflower and soybean oil from Ukraine have been cancelled due to the outbreak of the war. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nikhil Chachan, operator of Narayani Oil, says that the supply of raw materials had been delayed during the build-up to the war and the consignments have completely stopped with the onset of war. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">More than a dozen industries that manufacture cooking oil in Nepal are dependent on Ukraine for raw materials. The shipments of raw materials have been stuck at the ports after Russia launched an attack on Ukraine last Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Operator of OCB Foods, Suresh Rungata, says that the shipping companies have started cancelling the orders citing extraordinary situation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The ships that were ready to sail with the raw materials have been stuck at the ports following the Russian invasion,” said Rungata, adding, “It is not certain when things will return back to normalcy.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal imports more than 80 percent of unprocessed product required for producing oil from Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Industrialist Chachan says that the quality of mustard produced in Ukraine are better than anywhere else and therefore it falls in their first choice category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Rungata says that all the industries keep a stock of 10 to 15 percent of raw materials and therefore the market will not face immediate shortage of cooking oil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The industries have stock enough for 1 or 2 days. The shipment at Kolkata port will be enough for another 10/12 days. There might be some problem is supply after that,” says Rungata.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another industrialist Om Prakash More says that if the Russia-Ukraine war gets prolonged, there will be a major problem in supply of cooking oil, wheat, maize, petroleum products among others. He further said that inflation is imminent due to the short-supply. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other businessmen say that that even if the war ends it will take some time for Ukraine to recover from its impact and the supply chain will not improve anytime soon. </span></span></p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14581', 'image' => '20220227070707_Foreign Trade.jpg', 'article_date' => '2022-02-27 19:06:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14837', 'article_category_id' => '1', 'title' => 'Government Ready for Policy Reforms to Attract Foreign Investment', 'sub_title' => '', 'summary' => 'February 27: The government has started homework of policy improvement to attract foreign investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: The government has started homework of policy improvement to attract foreign investment. Currently, Nepal is not able to attract lucrative foreign investment into the country. Thus, the government has taken a step towards policy improvement to bring foreign investment as well as technologies. In this regard, the government is preparing to reduce the time period for process involved in foreign investment. In addition to this, the government is also preparing to make amendments to the Foreign Enterprise and Technology Transfer Rules.</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 Foreign Investment and Technology Transfer Rules 2077, which was approved and implemented by the Council of Ministers in December last year, had set a minimum limit of Rs 50 million for foreign investment. The time limit was also set when such a limit was fixed. </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"">Accordingly, the process of bringing investment should be started within one year. Foreign investors who pledge to invest Rs 50 million should bring 25 percent of the investment within one year. Similarly, investors who pledge to invest Rs 250 million should bring 15 percent of the pledged amount within a year and investors investing Rs 1 billion are required to bring 10 percent within one year while the investors investing above Rs 1 billion are required to bring 5 percentage of committed amount within a year. No such date was fixed before this arrangement was made.</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 private sector had been protesting against the regulations arguing that the provision in the regulations was not practical.</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 government has formed a study committee headed by Ram Chandra Tiwari, Director General of the Department of Industry, to amend the regulations. The committee, which was formed a month ago, has started the study process and has been mandated from the Ministry of Industry, Commerce and Supplies to prepare a report with suggestions for amendment.</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"">Tiwari, the head of the study committee, said that the committee has already started its work. "We will study the need to amend the current rules in detail and submit a report soon," he told New Business Age. </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 Ministry of Industry says that the process of amendment will move forward after it receives the report from the study committee. The private sector and investors have been complaining that they are embarrassed by the time limit and time set by the government for foreign investment.</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 Confederation of Nepalese Industries (CNI) has been demanding removal of the minimum limit for foreign investors since the introduction of such an arrangement. "In order to encourage foreign investment, the minimum limit should be removed," the CNI said in a recent statement. The number of foreign-invested industries in Nepal has reached 5,366 now.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">What is the commitment of foreign investment in Nepal?</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the first six months of the current Fiscal Year 2078/79, a total of 129 new industries with foreign investment have been registered in Nepal. According to the Department of Industry, with the new industries registered, the total number of industries with foreign investment in Nepal has reached 5,366. There are 319 large, 566 medium and 4,481 small industries registered with foreign investment in Nepal. As of mid-January, Nepal has received foreign investment commitment of Rs 31.53 billion.</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 the Department of Industry, foreign investment commitment of Rs 24.23 billion was made in the corresponding period of the previous fiscal year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14580', 'image' => '20220227052247_20160222122813_ep3.jpg', 'article_date' => '2022-02-27 17:21:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14838', 'article_category_id' => '1', 'title' => 'ICRA Gives AA+ Rating to NEA ', 'sub_title' => '', 'summary' => 'February 27: ICRA Nepal Limited, a credit rating agency in Nepal, has assigned ICRA NP Issuer Rating double A plus to the state-owned Nepal Electricity Authority (NEA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: ICRA Nepal Limited, a credit rating agency in Nepal, has assigned ICRA NP Issuer Rating double A plus to the state-owned Nepal Electricity Authority (NEA). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Companies with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such companies carry very low credit risk. The rating is only an opinion on the general creditworthiness of the rated entity and not specific to any particular debt instrument. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Commenting on the rating, the NEA Executive Director Kulman Ghising said this rating means NEA is considered to have a high degree of safety concerning timely servicing of its financial obligations. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The NEA has taken out loans from multi-sectoral development partners like the World Bank and the Asian Development Bank with Government of Nepal as the guarantor. Now with this rating, it can directly seek and take out loans from such partners with its institutional guarantee," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On issuing initial public offering to the public, Ghising said discussions with the government were underway in this regard. "Now we will take forward the process of issuing IPO to the general public as per the law and with the government's consent." The NEA has posted a profit of Rs 12 billion in six months of the current fiscal year (FY 2021/22). -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14579', 'image' => '20220227053453_NEA.jpg', 'article_date' => '2022-02-27 17:33:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14836', 'article_category_id' => '1', 'title' => 'HoR Begins Deliberations on MCC Compact ', 'sub_title' => 'Ruling Coalition Agrees to Ratify MCC with Explanatory Note', 'summary' => 'February 27: The House of Representatives (HoR) has commenced its business amid protest from lawmakers of the main opposition party CPN UML.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: The House of Representatives (HoR) has commenced its business amid protest from lawmakers of the main opposition party CPN UML.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaker Agni Prasad Sapkota announced the commencement of the meeting business amidst protest from opposition MPs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, Minister for Law, Justice and Parliamentary Affairs Dilendra Prasad Badu presented the annual report of the Office of Auditor General for the fiscal year 2077-78 BS, on behalf of Prime Minister Sher Bahadur Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Finance Minister Janardan Sharma tabled a proposal seeking general deliberations on the proposal to endorse the US-funded Millennium Challenge Corporation (MCC) compact. Earlier, a meeting of the ruling alliance held at the Prime Minister's official residence in Baluwatar today morning (February 27) decided to endorse the American project through parliament along with an “explanatory declaration”. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking to the media after the meeting, Nepali Congress leader Ram Chandra Poudel said that the meeting of the ruling alliance has decided that the House of Representatives will ratify the MCC after the government makes it clear that the compact is not under any military organisation but purely an economic assistance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Present in the meeting were Prime Minister and Nepali Congress president Sher Bahadur Deuba, CPN (Maoist Centre) chair Pushpa Kamal Dahal, CPN (Unified Socialist) chair Madhav Kumar Nepal, Janata Samjabadi Party chair Upendra Yadav among the leaders of the ruling coalition. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Signed in 2017, the US$ 55 billion project will construct transmission lines and roads in Nepal if endorsed by the parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The then government led by then prime minister KP Sharma Oli had decided to table the MCC agenda in parliament on February 8, 2019. Similarly, the then Finance Minister Dr Yuba Raj Khatiwada had presented MCC compact in the parliament on July 15, 2019 for its passage. However, the ratification of MCC had remained stalled due to the differences among the political parties. But now, a meeting of the CPN (Maoist Centre) today morning also decided to ratify the MCC along with an explanatory note. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The parliament meeting continues theoretical discussions over the MCC, according to the state-owned national news agency RSS. The government has beefed up security in New Baneshwar area anticipating protests over the MCC issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The extended deadline for endorsing the MCC is February 28. (With inputs from RSS) </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14578', 'image' => '20220227035518_MCC.jpg', 'article_date' => '2022-02-27 15:54:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14835', 'article_category_id' => '1', 'title' => 'Nepal Imports Mustard from Australia instead of Ukraine ', 'sub_title' => '', 'summary' => 'February 27: The Russian invasion of Ukraine has affected the world economy, including Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: The Russian invasion of Ukraine has affected the world economy, including Nepal. The price of sunflower and soybean imported from Ukraine has gone up by 30 to 60 percent per tonne. Industrialists have estimated that the price of cooking oil in Nepal will increase by up to Rs 100 per litre within the next one month.</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 price of mustard, which was ordered from Ukraine by domestic oil industry operator Shravan Kumar Agrawal, has recently increased by USD 30 per ton. Due to the war, it was not possible to order additional consignment of mustard from Ukraine, so the industrialist had to order mustard from Australia, where it costs an additional USD 60 per ton. </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 price of mustard oil may increase by as much as Rs 100 due to price hike of mustard seeds, increase in transportation fare and the delay consignment delivery," said Agrawal.</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"">At present, the retail price of mustard oil is Rs 300 per liter. He estimates that the price will reach Rs 400 in a month. Sunflower oil costs Rs 260 per liter. It is expected to increase to Rs 360. The current retail price of soybean oil is Rs 250 per liter, which is expected to cost Rs 350 per liter soon.</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"">Russia's conflict with Ukraine has caused impacts on various sectors globally. Entrepreneurs said that increase in coal price will increase the production cost of the brick and cement industries.</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 Bhim Ghimire, president of Province 1 chapter of the Confederation of Nepalese Industries, the price of coal has also been affected by the Russia-Ukraine war. Traders at the Kolkata port, who have been supplying coal to Nepal, say that the price of coal has gone up by USD 30 per ton. The price of coal was USD 200 per ton a year ago, and has now reached USD 230 per ton. According to Ghimire, the price is expected to reach USD 250 per ton.</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"">Ukraine supplies most of the raw materials required to produce sunflower oil in Nepal. Only a few percent comes from Russia and Australia. The price of soybean and sunflower is comparatively cheaper in Ukraine than in other countries. </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"">Nanda Kishore Rathi, vice-president of the Morang Chamber of Commerce, said that the price of crude oil, which used to cost USD 1,500 per tonne, has now risen by USD 30 to 300.</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"">Nepal has imported 445,000 kg of raw material of mustard oil worth Rs 3.95 billion in the last seven months, while 57.36 million kg of crude oil worth Rs 9.51 billion has been imported from Ukraine.</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"">Along with Ukraine, Russia has also exported goods worth Rs 151.1 million to Nepal in the last seven months and imported goods worth Rs 4.31 billion, according to the Department of Customs. During this period, Nepal imported printing paper, automobiles, chemicals (sodium phosphate), animal vaccines, shampoos, baby lotions, and cosmetics from Russia. Carpets worth Rs 73.9 million, tea leaves worth Rs 61.3 million, hangers for clothes worth Rs 1.1 million, and Yarsagumba worth Rs 6.5 million were exported to Russia.</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 war between Russia and Ukraine has pushed up the price of gold and petroleum products, said Navin Rijal, president of the Morang Merchants’ Association. He informed that the price of gold in Nepal increased by Rs 2500 per 11.6 grams on Thursday and decreased by Rs 1000 on Friday. The price of crude oil, which had reached USD 105 per barrel, had reached USD 97.2 at midnight on Friday.</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 Russia is the second-largest producer of petroleum products internationally, fluctuations in prices are likely to push up the price of petrol, diesel, kerosene, aviation fuel, and cooking gas in Nepal, Rijal said.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14577', 'image' => '20220227015131_1501009175_7.jpg', 'article_date' => '2022-02-27 13:50:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14834', 'article_category_id' => '1', 'title' => 'Family Members Concerned about Safety of Nepalis in Ukraine ', 'sub_title' => '', 'summary' => 'February 27: Family members of Nepali citizens living in Ukraine have expressed concerns regarding their safety after Russia began invading various cities of Ukraine. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: Family members of Nepali citizens living in Ukraine have expressed concerns regarding their safety after Russia began invading various cities of Ukraine. </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"">So far, 193 Nepalis living in Ukraine have come in contact with Nepal’s embassy in Germany that is in charge of looking after affairs related to Russia. It is estimated that there are around 240 Nepali nationals studying and working in Ukraine. However, the vice president of the Non-Resident Nepalese Association (NRNA), Dr Badri KC informed that there are around 400 Nepalis living in Ukraine. "Even though Nepalis are safe till now, we are still concernd about relocating them," 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"">The embassy has requested those in contact to move to a safer location in the west and stay in touch as the attack is currently taking place only in the eastern parts of the country. Advocate and labor and immigration expert Som Luintel, who has been providing assistance to those in need during foreign employment, said that the government should give priority to rescue those in contact even if their condition is said to be safe. </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 price of crude oil has been sharply rising in the world market due to the war between Russia and Ukraine. Russia is one of the top oil suppliers in the world. Brent crude rose to its highest level since 2014, following fears of an impact on Russian oil supplies on Thursday. </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"">Economists and market analysts estimate that crude oil prices could reach $150 a barrel, with worse conditions expected. </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 a result of the war, prices of gold and other commodities are expected to rise. Russia and Ukraine are the world's leading food suppliers. Russia and Ukraine account for 29 percent of the world's total wheat trade. The supply of 19 percent maize also come from these two countries. </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"">About 80 percent of supply of sunflower oil in the world market comes from Russia and Ukraine. Prices of food items including wheat, maize and soybeans have skyrocketed in the world market since mid-February due to rising tensions between Russia and Ukraine. As a result of the war, the prices of palm oil and soybean oil have also increased along with sunflower oil. </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"">Economist Dr Poshraj Pandey says that Nepal will face indirect impact of the Ukraine war. He said that as Nepal's economy is import-oriented, inflation will rise when there is a problem in global supply chain. Recently, the United States, the United Kingdom and other countries have increased their assistance to 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"">“If the situation worsens, the donors might cut grant assistance to Nepal in order to manage expenses for the war,” he added.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14576', 'image' => '20220227123233_NRNA.jpg', 'article_date' => '2022-02-27 12:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14833', 'article_category_id' => '1', 'title' => 'IPPAN Welcomes Decision taken by Nepal-India JSC Meeting', 'sub_title' => '', 'summary' => 'February 27: The Independent Power Producers' Association of Nepal has welcomed the agreement reached between Nepal and India during the recently held Secretary-Level Joint Steering Committee meeting. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: The Independent Power Producers' Association of Nepal has welcomed the agreement reached between Nepal and India during the recently held Secretary-Level Joint Steering Committee meeting. </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"">Issuing a statement on Friday, IPPAN Chair Krishna Prasad Acharya expressed hope that the agreement between Nepal and India would add a new dimension to the country's electricity trade and would further consolidate mutual relations between Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the meeting has created a base for Nepal to export power up to Bangladesh, IPPAN said such an agreement would play an important role in the development of electricity in 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"">IPPAN further said that the decisions taken by the meeting would help promote investment in the energy sector and big projects as well as transmission lines and also improve inter-state energy trade. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14575', 'image' => '20220227082509_aaa.jpg', 'article_date' => '2022-02-27 08:22:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14831', 'article_category_id' => '1', 'title' => 'Sauraha Starts Bustling with Tourists ', 'sub_title' => '', 'summary' => 'February 25: Sauraha, one of the prime tourist destinations in Nepal, has seen arrival of foreign tourists after a long gap.', '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"">February 25: Sauraha, one of the prime tourist destinations in Nepal, has seen arrival of foreign tourists after a long gap. The tourism sector, which has slowed down due to the impact of Covid-19, is now showing signs of recovery. European tourists in particular have started coming to Sauraha after a long time, according to the hoteliers of the region.</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"">"Booking of Indian tourists is also good," said Deepak Bhattarai, president of the Chitwan Regional Hotel Association. </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"">During this time of the year, hotel occupancy in Sauraha used to be 90 percent but it is just 14 percent at present, says Bhattarai.</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"">“But the good news is that foreign tourists have started coming.” </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 Suman Ghimire, the manager of Jungle Safari Lodge, tourists from Germany, the Netherland, Israel, and other countries have started coming. He is hopeful that the tourism sector will be back to normal business from coming October as the number of inquiries has increased.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“With the decline in risk of Covid-19, there has been an improvement in hotel bookings for seminars and meetings,” he said, adding</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">, “Foreign tourists have been seen sporadically after a long time. Nowadays, they also come in groups.”</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"">Ghimire, who is also a former president of the Regional Hotel Association Chitwan, estimates that the number of foreign tourists visiting Nepal would improve significantly by 2023. Foreign tourists have started riding elephants in community forests, including Chitwan National Park, he further said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rishi Tiwari, chairman of the United Elephant Management Cooperative, which has been managing elephants, said that especially Asian tourists have started coming to ride elephants. There are 31 elephants with the cooperative. Among them, 20 to 25 of them have started getting daily work.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> He says that tourists from Nepal, India, and third countries have started coming to the area. Similarly, elephant safari is available in the Baghmara Community Forest. The chairman of the committee Jit Bahadur Tamang also confirmed that foreign tourists have started arriving.</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"">Santosh Giri, chief executive officer of Hotel Jungle Crown, said hotel has been almost booked for weekends.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from sight-seeing, visitors also come here for weddings and other big gatherings. Sauraha has become a popular choice among tourists as it is possible to book a good hotel room at an affordable price.</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"">As Chitwan is located in the middle of the country, big organizations often hold trainings, meetings, and conferences here. Mostly, Indians come here for weddings. </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"">There are 120 hotels in Sauraha. These hotels can accommodate up to five thousand five hundred tourists. Entrepreneurs say that the hotels here have received huge investments in recent years.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-25', 'modified' => '2022-02-25', 'keywords' => '', 'description' => '', 'sortorder' => '14574', 'image' => '20220225053240_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2022-02-25 17:31:56', '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' => '14845', 'article_category_id' => '1', 'title' => 'Arrival of Tourists up in Langtang', 'sub_title' => '', 'summary' => 'February 28: Langtang and the Gosainkunda foot trails, where tourism activities were silent due to Covid-19 infection, has now started receiving foreign tourists.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 28: Langtang and the Gosainkunda foot trails, where tourism activities were silent due to Covid-19 infection, has now started receiving foreign tourists. There has been an increase in the number of tourists arriving here after the decline in Covid-19 infection. With the onset of spring, the warm weather in the frosty mountains has also attracted 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"">Ram Sharan Gajurel, president of the district chapter of the Hotel Entrepreneurs' Association, Rasuwa, said that the hotels and lodges, which were closed due to snowfall, have reopened. He said that they resumed service as soon as the tourists started arriving in the area.</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 Gajurel, the arrival of tourists has given a glimmer of hope to the businessmen who thinking of giving up their business due to the heavy loss they sustained because of the impact of the pandemic.</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 hoteliers of Langtang informed that 15-20 domestic tourists and four to five foreigners have been arriving in the region daily since the last few days.</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"">With the expectation that the tourism sector will flourish in the coming days, the businessmen here have already started preparations of further strengthening the hotels and lodges along the foot trails, said Chairman Gajurel.</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"">Hari Aryal, 24, of Kapilvastu Banganga-8 said that the biodiversity during the pilgrimage to Gosainkunda, the snowfall on Wednesday and the high mountain range of western Nepal seen from Lauribinayak made the journey fascinating. </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"">Patrick, a US citizen and Nick from the UK, who came to Gosainkunda via Rasuwa Trek and Travel Tour, Thamel Kathmandu, said that many of their friends are eager to see the beauty of the Himalayan region. They said that they would complete the visit in the first and then recommend other friends to visit Rasuwa. They plan to stay in Chandanbari, Lauribinayak and Gosainkunda for a week.</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"">Gagan Raj Neupane, a tourism entrepreneur, said that mid-February to mid-June and mid-September to mid-December are the most suitable time for mountaineering. According to tourism entrepreneurs, the main attraction for tourists in the region include Gosainkunda, which holds significance from both religious and tourism point of views, as well as Langtang and Kangjen under Red Panda foot trail, and Gatlang, Nagthali, Thuman and Wriddhim areas of under the Tamang Heritage Route.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14588', 'image' => '20220228022038_Langtang-National-Park.jpg', 'article_date' => '2022-02-28 14:16:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14846', 'article_category_id' => '1', 'title' => 'Panchkhal Ready to Become the First Smart City of Nepal', 'sub_title' => '', 'summary' => 'February 28: Panchkhal municipality is set to become the first smart city of Nepal under the public-private partnership (PPP) model at a time when other smart city projects announced by the government have become uncertain. ', 'content' => '<p><span style="font-size:18px">February 28: Panchkhal municipality is set to become the first smart city of Nepal under the public-private partnership (PPP) model at a time when other smart city projects announced by the government have become uncertain. <br /> With an investment of Rs 2.5 billion, Panchkhal will soon become a smart city spread across 5,500 ropanis of land which includes land set aside for agriculture.<br /> With the consent of the locals, the Panchkhal Municipality has started the process of making a smart city with the investment from Nepal Infrastructure Bank (NIFRA) through land pooling method. Mayor of Panchkhal Municipality Mahesh Kharel informed that they have a vision to build five smart cities in Panchkhal in the next 20 years. Under this concept, an agreement has been reached to invest Rs 2.5 billion in the first phase. He said that the locals are ready to give their land for the smart city on condition that those lands remain registered in their names.<br /> Residents of Smart City Panchkhal will provide land for development of roads, parks and other structures. "A maximum of 30 to 35 percent of the land of the locals will be used for this purpose," Kharel said adding, "Besides, they will get back the land." The land will be under their own names, except for the ones used to make the structures. He said that a tripartite agreement would be reached between the bank, municipality and locals for developing this land.<br /> Nepal Infrastructure Bank Limited (NIFRA) has reached an agreement with a US-based company, JLL, to carry out a detailed study of the market for a Smart City project in Panchkhal Municipality of Kavrepalanchok district. JLL has been given two months’ time for the work. <br /> The municipality has imposed a complete ban on building houses in the paddy fields in Panchkhal so as not to destroy the cultivable land even after developing the smart city. "Smart cities will be developed in non-irrigated and non-cultivated areas," said Kharel adding, “The project does not have any concept of building a smart city on arable land and farms, but plans to save cultivable land, move settlements to the hills and develop Panchkhal as an alternative to Kathmandu.”<br /> “The company, which has developed DPRs in developed cities like Indonesia and Singapore, is now developing DPR in Panchkhal as well,” he said adding, “The city will be made a high-tech city by incorporating the basics of smart city, while managing the unorganized slums.”<br /> Five cities will be developed within Panchkhal. He said that the investment is projected to be Rs 2.5 billion for the first phase of the first smart city. <br /> "It will take 50 years to build a smart city or develop infrastructure with the central government's budget," he said adding, “That is why the process of investing and developing it through the public-private partnership (PPP) model has been taken forward. The entire investment will be mobilized by NIFRA. After the investment of NIFRA, the land will be developed in the name of the locals by signing an agreement with the locals.”<br /> He said that the concept of developing smart cities and settlements by acquiring land has failed in many places. That is why the land of the locals will be in the name of the locals. The local’s land will be developed with the investment of NIFRA and coordination of the municipality. </span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-03-01', 'keywords' => '', 'description' => '', 'sortorder' => '14587', 'image' => '20220228030732_20220206060744_urban_1630479131.jpg', 'article_date' => '2022-02-28 15:06:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14844', 'article_category_id' => '1', 'title' => 'USA says Ratification of MCC means more Jobs', 'sub_title' => '', 'summary' => 'February 28: The United States of America (USA) has welcomed the ratification of the Millennium Challenge Corporation (MCC) Compact by the parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: The United States of America (USA) has welcomed the ratification of the Millennium Challenge Corporation (MCC) Compact by the parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A day after the House of Representatives (HoR) endorsed the US-funded project, American Ambassador to Nepal Randy Berry on Monday (February 28) took to Twitter to welcome the decision.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Government of Nepal’s ratification of its commitment to the $500 million Millennium Challenge Corporation (MCC) grant will mean more jobs for Nepali people and lower energy and transportation costs,” the US ambassador to Nepal tweeted.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier on Sunday, the US Embassy in Nepal issued a statement saying that the decision whether to ratify the $500 million-dollar Millennium Challenge Corporation (MCC) Nepal Compact has always rested with the Government of Nepal as a sovereign democratic nation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US embassy further said that the MCC compacts, in the nearly 20 years since its inception, have helped alleviate poverty around the world by forming partnerships with developing countries who are committed to economic freedom, investing in their citizens, and good governance, including promoting democratic principles and combatting corruption.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement, the Government of Nepal signed the MCC agreement in 2017 after determining its goals to modernize Nepal’s energy and transportation sectors with the hope of helping more than 23 million Nepalis. The Government of Nepal will now be able to continue to work towards implementing the five-year program, the statement added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This year marks the 75th year of diplomatic relations between Nepal and the United States. During these 75 years, Nepal has seen monumental and incredible changes. We have stood with Nepal through these changes and supported the country with development aid, disaster response and preparedness assistance, health, and education programs, and more.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US embassy further said that America’s relationship with Nepal is broader than one agreement and “we will continue to support the country and its democratic values and long-term economic prosperity”.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14586', 'image' => '20220228015516_randy berry.jpg', 'article_date' => '2022-02-28 13:54:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14843', 'article_category_id' => '1', 'title' => 'Consumers Bearing the Brunt of Inflation ', 'sub_title' => '', 'summary' => 'February 28: The general public has been hit hard by the continuous rise in food prices.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 28: The general public has been hit hard by the continuous rise in food prices. Lately, traders have been increasing the prices of food items under various pretexts. Prices of pulses, nuts, cooking oil, sugar, rice and other consumer goods have gone up sharply. </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 retail price of sugar, which was Rs 90 to Rs 95 some time ago, has now reached Rs 100 per kg. The cost price of sugar for traders has been fixed at Rs 90 per kg and it costs around Rs 93 to 95 when the transportation charge is 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"">"There is a problem in selling sugar even if it is sold at a profit of only Rs 5," said Pavitra Bajracharya, the former president of Nepal Retailers Association, "Currently, traders are not in a position to sell sugar at a profit." Bajracharya said that if the price increases in this way, there will be no profit from selling consumer 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"">At present, the price of all types of cooking oil has increased by Rs 30 to Rs 32 per liter. The price of sunflower oil, which used to be Rs 220 per liter, has now increased by Rs 30 and is being sold at Rs 250 per liter. The price of lentils has gone up by Rs 70 per kg in the last two months and currently cost Rs 165 per kg. The price of mixed beans including peas and soybean has also gone up by 10 to 25 percent. Similarly, the price of rice of all brands has gone up by Rs 200 per sack. </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"">Although there is no specific reason for the increase in prices now, traders have arbitrarily increased the price pointing that the increase in fuel price and freight charge. </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"">Chairman of the Association of Nepalese Rice, Oil and Pulses Industry Subodh Kumar Gupta, said that along with the rise in fuel prices, the price of raw materials in the international market has also increased. Furthermore, he said that the rise in fuel prices would increase the prices of not only food but also many other commodities in the near future. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14585', 'image' => '20220228010414_Inflation.jpg', 'article_date' => '2022-02-28 13:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14842', 'article_category_id' => '1', 'title' => 'This is how MCC will be Implemented', 'sub_title' => '', 'summary' => 'February 28: The obstacles for implementing the Millennium Challenge Corporation (MCC) compact have been removed with the ratification of the US-funded project from parliament.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: The obstacles for implementing the Millennium Challenge Corporation (MCC) compact have been removed with the ratification of the US-funded project from parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The passage of MCC has opened doors for a grant assistance of Rs 55 billion, which will primarily be used for construction of transmission lines and roads. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Until now, the project signed in 2017 had remained uncertain because the political parties were divided over its endorsement. But now, the project is all set to be implemented in full fledge, according to the officials of the Millennium Challenge Account (MCA) Nepal. MCA Nepal is body formed by the Government of Nepal in April/May 2018 (2075 BS) under the Development Committee Act, 2013 in order to implement the projects under the MCC grant agreement. The MCC compact will be implemented by MCA Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Communication officer of MCA Nepal Rajiv Dahal said that the preparatory works for the project had slowed down because of the delay in endorsing the MCC from parliament.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Now, the MCA Nepal, under this project, will complete the works related to land acquisition and seek within one year the permission to use forest areas. Then the EIF meeting will be held to implement the project. This meeting will fix the deadline for projects under MCC to be completed within 5 years. The MCC will release funds after this meeting as per the cost estimate submitted by MCA Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The US government will provide grant assistance of US$ 500 million while the Government of Nepal will invest US$ 130 million for this project. If Nepal is not able to spend the grant pledged by the USA within 5 years, the unspent amount has to be returned back.</span></span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14584', 'image' => '20220228120455_thediplomat-2020-01-29-21.jpg', 'article_date' => '2022-02-28 12:04:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14841', 'article_category_id' => '1', 'title' => 'What does 11-point Descriptive Notes about MCC Say', 'sub_title' => '', 'summary' => 'February 28: The ruling parties announced an 11-point descriptive notes on the much debated Millennium Challenge Corporation (MCC) compact, arguing that it is focused solely on economic cooperation and development of physical infrastructures.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">February 28: The ruling parties announced an 11-point descriptive notes on the much debated Millennium Challenge Corporation (MCC) compact, arguing that it is focused solely on economic cooperation and development of physical infrastructures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During the announcement, the ruling parties stated that the MCC compact, upon its endorsement, would not be regarded as an agreement having link to any strategic or military alliance including the US Indo-Pacific Strategy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the explanatory notes, the auditing of MCC would be conducted by the Office of Auditor General; the intellectual property gained from the project would be of Nepal; no agreement would be above the Constitution of Nepal; and the project would be directed as per Nepal's constitution. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The descriptive notes were made public on Sunday (February 28) after a meeting of the ruling parties held at prime minister's official residence in Baluwatar. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In relation to section 2.7, section 5.2 (b.3), section 5.2 (b.4) of the MCC compact, Nepal has the understanding that these provisions are effective only for the use of the grant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, other provisions would not make Nepal mandatory to abide by the existing or the future US laws or policies in any purpose except the use of MCC grant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, in regard to section 3.2 (b) of the MCC compact, the 11-point notes issued by the political parties has made it clear that the activities to be run from the MCC compact Nepal Development Committee shall be guided by the laws of Nepal. The MCC would not have ownership in the intellectual property right while Nepal will own the entire intellectual property rights and Nepal will fully utilise this. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The descriptive notes also states that the Constitution of Nepal shall prevail over the compact and implementation of the programmes under this project would be carried out as per the laws of Nepal and the compact. All the movable and immovable properties and land plots of the projects would remain under the ownership of the Government of Nepal and its line agencies, the notes further mentioned. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14583', 'image' => '20220228112208_MCC.jpg', 'article_date' => '2022-02-28 11:21:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14840', 'article_category_id' => '1', 'title' => 'Parliament Ratifies MCC Compact ', 'sub_title' => '', 'summary' => 'February 28: After much debate and deliberations, the House of Representatives has finally ratified the Millennium Challenge Corporation (MCC) grant agreement reached between Nepal and the US government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 28: After much debate and deliberations, the House of Representatives has finally ratified the Millennium Challenge Corporation (MCC) grant agreement reached between Nepal and the US government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The second meeting of the HoR ratified the MCC compact on Sunday evening (February 27). Finance Minister Janardan Sharma had presented the proposal seeking the passage of the MCC compact along with descriptive notes. The proposal was passed by voice vote. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The main opposition, CPN UML, continued its protest over non-implementation of its decision. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, taking part in the discussion on finance minister's proposal seeking ratification of the MCC compact along with descriptive notes, the lawmakers put forth views for and against the MCC compact. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lawmaker Parbata Bisankhe said the descriptive notes of the MCC compact should be approved in letter and spirit, adding that the US government too should accept it. Bisankhe said Nepal should scrap it otherwise. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, lawmaker of Rastriya Janamorcha Durga Poudel argued that the descriptive notes were one-sided and the MCC compact was against the spirit of nationalism and national sovereignty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">UML lawmaker Bhim Rawal also questioned the one-sided descriptive notes, stating that it created illusion among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, Nepali Congress (NC) whip Pushpa Bhusal believed that the MCC would help strengthen Nepal's economy and support in development of infrastructures in the country. Bhusal said it while taking part in the deliberation on the proposal, seeking ratification of MCC compact in the second meeting of the House of Representatives (HoR). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">She argued that a total of 46 countries across the world had inked MCC agreement with he USA and there was not a single case of military alliance relating to the MCC. She also commented that the descriptive notes on the MCC were positive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">MP Prem Suwal, however, protested the MCC agreement and demanded it be withdrawn. Matrika Prasad Yadav said that descriptive notes were a part of the MCC internationally. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Dr Minendra Rijal of Nepali Congress expressed his confidence that the descriptive notes would help dispel the misleading information about the MCC. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (Unified Socialist) lawmaker Jivan Ram Shrestha said that the descriptive notes on the MCC were positive and the American side should also mandatorily abide by it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CPN (Maoist Centre) lawmaker Girirajmani Pokharel viewed that more light should be thrown on the MCC.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The next meeting of parliament is scheduled for February 30. -- RSS </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-28', 'modified' => '2022-02-28', 'keywords' => '', 'description' => '', 'sortorder' => '14582', 'image' => '20220228110858_Parliament.jpg', 'article_date' => '2022-02-28 06:51:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14839', 'article_category_id' => '1', 'title' => 'Shipments from Ukraine Cancelled as War Escalates', 'sub_title' => '', 'summary' => 'February 27: Russian invasion of Ukraine has caused obstruction in the supply of raw materials required for producing cooking oil and poultry feed to Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: Russian invasion of Ukraine has caused obstruction in the supply of raw materials required for producing cooking oil and poultry feed to Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepali importers say that the consignments of unrefined sunflower and soybean oil from Ukraine have been cancelled due to the outbreak of the war. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nikhil Chachan, operator of Narayani Oil, says that the supply of raw materials had been delayed during the build-up to the war and the consignments have completely stopped with the onset of war. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">More than a dozen industries that manufacture cooking oil in Nepal are dependent on Ukraine for raw materials. The shipments of raw materials have been stuck at the ports after Russia launched an attack on Ukraine last Thursday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Operator of OCB Foods, Suresh Rungata, says that the shipping companies have started cancelling the orders citing extraordinary situation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The ships that were ready to sail with the raw materials have been stuck at the ports following the Russian invasion,” said Rungata, adding, “It is not certain when things will return back to normalcy.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal imports more than 80 percent of unprocessed product required for producing oil from Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Industrialist Chachan says that the quality of mustard produced in Ukraine are better than anywhere else and therefore it falls in their first choice category.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, Rungata says that all the industries keep a stock of 10 to 15 percent of raw materials and therefore the market will not face immediate shortage of cooking oil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The industries have stock enough for 1 or 2 days. The shipment at Kolkata port will be enough for another 10/12 days. There might be some problem is supply after that,” says Rungata.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another industrialist Om Prakash More says that if the Russia-Ukraine war gets prolonged, there will be a major problem in supply of cooking oil, wheat, maize, petroleum products among others. He further said that inflation is imminent due to the short-supply. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Other businessmen say that that even if the war ends it will take some time for Ukraine to recover from its impact and the supply chain will not improve anytime soon. </span></span></p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14581', 'image' => '20220227070707_Foreign Trade.jpg', 'article_date' => '2022-02-27 19:06:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14837', 'article_category_id' => '1', 'title' => 'Government Ready for Policy Reforms to Attract Foreign Investment', 'sub_title' => '', 'summary' => 'February 27: The government has started homework of policy improvement to attract foreign investment. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: The government has started homework of policy improvement to attract foreign investment. Currently, Nepal is not able to attract lucrative foreign investment into the country. Thus, the government has taken a step towards policy improvement to bring foreign investment as well as technologies. In this regard, the government is preparing to reduce the time period for process involved in foreign investment. In addition to this, the government is also preparing to make amendments to the Foreign Enterprise and Technology Transfer Rules.</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 Foreign Investment and Technology Transfer Rules 2077, which was approved and implemented by the Council of Ministers in December last year, had set a minimum limit of Rs 50 million for foreign investment. The time limit was also set when such a limit was fixed. </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"">Accordingly, the process of bringing investment should be started within one year. Foreign investors who pledge to invest Rs 50 million should bring 25 percent of the investment within one year. Similarly, investors who pledge to invest Rs 250 million should bring 15 percent of the pledged amount within a year and investors investing Rs 1 billion are required to bring 10 percent within one year while the investors investing above Rs 1 billion are required to bring 5 percentage of committed amount within a year. No such date was fixed before this arrangement was made.</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 private sector had been protesting against the regulations arguing that the provision in the regulations was not practical.</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 government has formed a study committee headed by Ram Chandra Tiwari, Director General of the Department of Industry, to amend the regulations. The committee, which was formed a month ago, has started the study process and has been mandated from the Ministry of Industry, Commerce and Supplies to prepare a report with suggestions for amendment.</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"">Tiwari, the head of the study committee, said that the committee has already started its work. "We will study the need to amend the current rules in detail and submit a report soon," he told New Business Age. </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 Ministry of Industry says that the process of amendment will move forward after it receives the report from the study committee. The private sector and investors have been complaining that they are embarrassed by the time limit and time set by the government for foreign investment.</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 Confederation of Nepalese Industries (CNI) has been demanding removal of the minimum limit for foreign investors since the introduction of such an arrangement. "In order to encourage foreign investment, the minimum limit should be removed," the CNI said in a recent statement. The number of foreign-invested industries in Nepal has reached 5,366 now.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Times New Roman","serif"">What is the commitment of foreign investment in Nepal?</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the first six months of the current Fiscal Year 2078/79, a total of 129 new industries with foreign investment have been registered in Nepal. According to the Department of Industry, with the new industries registered, the total number of industries with foreign investment in Nepal has reached 5,366. There are 319 large, 566 medium and 4,481 small industries registered with foreign investment in Nepal. As of mid-January, Nepal has received foreign investment commitment of Rs 31.53 billion.</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 the Department of Industry, foreign investment commitment of Rs 24.23 billion was made in the corresponding period of the previous fiscal year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14580', 'image' => '20220227052247_20160222122813_ep3.jpg', 'article_date' => '2022-02-27 17:21:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14838', 'article_category_id' => '1', 'title' => 'ICRA Gives AA+ Rating to NEA ', 'sub_title' => '', 'summary' => 'February 27: ICRA Nepal Limited, a credit rating agency in Nepal, has assigned ICRA NP Issuer Rating double A plus to the state-owned Nepal Electricity Authority (NEA). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: ICRA Nepal Limited, a credit rating agency in Nepal, has assigned ICRA NP Issuer Rating double A plus to the state-owned Nepal Electricity Authority (NEA). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Companies with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such companies carry very low credit risk. The rating is only an opinion on the general creditworthiness of the rated entity and not specific to any particular debt instrument. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Commenting on the rating, the NEA Executive Director Kulman Ghising said this rating means NEA is considered to have a high degree of safety concerning timely servicing of its financial obligations. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The NEA has taken out loans from multi-sectoral development partners like the World Bank and the Asian Development Bank with Government of Nepal as the guarantor. Now with this rating, it can directly seek and take out loans from such partners with its institutional guarantee," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On issuing initial public offering to the public, Ghising said discussions with the government were underway in this regard. "Now we will take forward the process of issuing IPO to the general public as per the law and with the government's consent." The NEA has posted a profit of Rs 12 billion in six months of the current fiscal year (FY 2021/22). -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14579', 'image' => '20220227053453_NEA.jpg', 'article_date' => '2022-02-27 17:33:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14836', 'article_category_id' => '1', 'title' => 'HoR Begins Deliberations on MCC Compact ', 'sub_title' => 'Ruling Coalition Agrees to Ratify MCC with Explanatory Note', 'summary' => 'February 27: The House of Representatives (HoR) has commenced its business amid protest from lawmakers of the main opposition party CPN UML.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 27: The House of Representatives (HoR) has commenced its business amid protest from lawmakers of the main opposition party CPN UML.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaker Agni Prasad Sapkota announced the commencement of the meeting business amidst protest from opposition MPs. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the meeting, Minister for Law, Justice and Parliamentary Affairs Dilendra Prasad Badu presented the annual report of the Office of Auditor General for the fiscal year 2077-78 BS, on behalf of Prime Minister Sher Bahadur Deuba. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Finance Minister Janardan Sharma tabled a proposal seeking general deliberations on the proposal to endorse the US-funded Millennium Challenge Corporation (MCC) compact. Earlier, a meeting of the ruling alliance held at the Prime Minister's official residence in Baluwatar today morning (February 27) decided to endorse the American project through parliament along with an “explanatory declaration”. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking to the media after the meeting, Nepali Congress leader Ram Chandra Poudel said that the meeting of the ruling alliance has decided that the House of Representatives will ratify the MCC after the government makes it clear that the compact is not under any military organisation but purely an economic assistance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Present in the meeting were Prime Minister and Nepali Congress president Sher Bahadur Deuba, CPN (Maoist Centre) chair Pushpa Kamal Dahal, CPN (Unified Socialist) chair Madhav Kumar Nepal, Janata Samjabadi Party chair Upendra Yadav among the leaders of the ruling coalition. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Signed in 2017, the US$ 55 billion project will construct transmission lines and roads in Nepal if endorsed by the parliament. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The then government led by then prime minister KP Sharma Oli had decided to table the MCC agenda in parliament on February 8, 2019. Similarly, the then Finance Minister Dr Yuba Raj Khatiwada had presented MCC compact in the parliament on July 15, 2019 for its passage. However, the ratification of MCC had remained stalled due to the differences among the political parties. But now, a meeting of the CPN (Maoist Centre) today morning also decided to ratify the MCC along with an explanatory note. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The parliament meeting continues theoretical discussions over the MCC, according to the state-owned national news agency RSS. The government has beefed up security in New Baneshwar area anticipating protests over the MCC issue. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The extended deadline for endorsing the MCC is February 28. (With inputs from RSS) </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14578', 'image' => '20220227035518_MCC.jpg', 'article_date' => '2022-02-27 15:54:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14835', 'article_category_id' => '1', 'title' => 'Nepal Imports Mustard from Australia instead of Ukraine ', 'sub_title' => '', 'summary' => 'February 27: The Russian invasion of Ukraine has affected the world economy, including Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: The Russian invasion of Ukraine has affected the world economy, including Nepal. The price of sunflower and soybean imported from Ukraine has gone up by 30 to 60 percent per tonne. Industrialists have estimated that the price of cooking oil in Nepal will increase by up to Rs 100 per litre within the next one month.</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 price of mustard, which was ordered from Ukraine by domestic oil industry operator Shravan Kumar Agrawal, has recently increased by USD 30 per ton. Due to the war, it was not possible to order additional consignment of mustard from Ukraine, so the industrialist had to order mustard from Australia, where it costs an additional USD 60 per ton. </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 price of mustard oil may increase by as much as Rs 100 due to price hike of mustard seeds, increase in transportation fare and the delay consignment delivery," said Agrawal.</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"">At present, the retail price of mustard oil is Rs 300 per liter. He estimates that the price will reach Rs 400 in a month. Sunflower oil costs Rs 260 per liter. It is expected to increase to Rs 360. The current retail price of soybean oil is Rs 250 per liter, which is expected to cost Rs 350 per liter soon.</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"">Russia's conflict with Ukraine has caused impacts on various sectors globally. Entrepreneurs said that increase in coal price will increase the production cost of the brick and cement industries.</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 Bhim Ghimire, president of Province 1 chapter of the Confederation of Nepalese Industries, the price of coal has also been affected by the Russia-Ukraine war. Traders at the Kolkata port, who have been supplying coal to Nepal, say that the price of coal has gone up by USD 30 per ton. The price of coal was USD 200 per ton a year ago, and has now reached USD 230 per ton. According to Ghimire, the price is expected to reach USD 250 per ton.</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"">Ukraine supplies most of the raw materials required to produce sunflower oil in Nepal. Only a few percent comes from Russia and Australia. The price of soybean and sunflower is comparatively cheaper in Ukraine than in other countries. </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"">Nanda Kishore Rathi, vice-president of the Morang Chamber of Commerce, said that the price of crude oil, which used to cost USD 1,500 per tonne, has now risen by USD 30 to 300.</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"">Nepal has imported 445,000 kg of raw material of mustard oil worth Rs 3.95 billion in the last seven months, while 57.36 million kg of crude oil worth Rs 9.51 billion has been imported from Ukraine.</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"">Along with Ukraine, Russia has also exported goods worth Rs 151.1 million to Nepal in the last seven months and imported goods worth Rs 4.31 billion, according to the Department of Customs. During this period, Nepal imported printing paper, automobiles, chemicals (sodium phosphate), animal vaccines, shampoos, baby lotions, and cosmetics from Russia. Carpets worth Rs 73.9 million, tea leaves worth Rs 61.3 million, hangers for clothes worth Rs 1.1 million, and Yarsagumba worth Rs 6.5 million were exported to Russia.</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 war between Russia and Ukraine has pushed up the price of gold and petroleum products, said Navin Rijal, president of the Morang Merchants’ Association. He informed that the price of gold in Nepal increased by Rs 2500 per 11.6 grams on Thursday and decreased by Rs 1000 on Friday. The price of crude oil, which had reached USD 105 per barrel, had reached USD 97.2 at midnight on Friday.</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 Russia is the second-largest producer of petroleum products internationally, fluctuations in prices are likely to push up the price of petrol, diesel, kerosene, aviation fuel, and cooking gas in Nepal, Rijal said.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14577', 'image' => '20220227015131_1501009175_7.jpg', 'article_date' => '2022-02-27 13:50:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14834', 'article_category_id' => '1', 'title' => 'Family Members Concerned about Safety of Nepalis in Ukraine ', 'sub_title' => '', 'summary' => 'February 27: Family members of Nepali citizens living in Ukraine have expressed concerns regarding their safety after Russia began invading various cities of Ukraine. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 27: Family members of Nepali citizens living in Ukraine have expressed concerns regarding their safety after Russia began invading various cities of Ukraine. </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"">So far, 193 Nepalis living in Ukraine have come in contact with Nepal’s embassy in Germany that is in charge of looking after affairs related to Russia. It is estimated that there are around 240 Nepali nationals studying and working in Ukraine. However, the vice president of the Non-Resident Nepalese Association (NRNA), Dr Badri KC informed that there are around 400 Nepalis living in Ukraine. "Even though Nepalis are safe till now, we are still concernd about relocating them," 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"">The embassy has requested those in contact to move to a safer location in the west and stay in touch as the attack is currently taking place only in the eastern parts of the country. Advocate and labor and immigration expert Som Luintel, who has been providing assistance to those in need during foreign employment, said that the government should give priority to rescue those in contact even if their condition is said to be safe. </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 price of crude oil has been sharply rising in the world market due to the war between Russia and Ukraine. Russia is one of the top oil suppliers in the world. Brent crude rose to its highest level since 2014, following fears of an impact on Russian oil supplies on Thursday. </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"">Economists and market analysts estimate that crude oil prices could reach $150 a barrel, with worse conditions expected. </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 a result of the war, prices of gold and other commodities are expected to rise. Russia and Ukraine are the world's leading food suppliers. Russia and Ukraine account for 29 percent of the world's total wheat trade. The supply of 19 percent maize also come from these two countries. </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"">About 80 percent of supply of sunflower oil in the world market comes from Russia and Ukraine. Prices of food items including wheat, maize and soybeans have skyrocketed in the world market since mid-February due to rising tensions between Russia and Ukraine. As a result of the war, the prices of palm oil and soybean oil have also increased along with sunflower oil. </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"">Economist Dr Poshraj Pandey says that Nepal will face indirect impact of the Ukraine war. He said that as Nepal's economy is import-oriented, inflation will rise when there is a problem in global supply chain. Recently, the United States, the United Kingdom and other countries have increased their assistance to 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"">“If the situation worsens, the donors might cut grant assistance to Nepal in order to manage expenses for the war,” he added.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14576', 'image' => '20220227123233_NRNA.jpg', 'article_date' => '2022-02-27 12:31:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14833', 'article_category_id' => '1', 'title' => 'IPPAN Welcomes Decision taken by Nepal-India JSC Meeting', 'sub_title' => '', 'summary' => 'February 27: The Independent Power Producers' Association of Nepal has welcomed the agreement reached between Nepal and India during the recently held Secretary-Level Joint Steering Committee meeting. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 27: The Independent Power Producers' Association of Nepal has welcomed the agreement reached between Nepal and India during the recently held Secretary-Level Joint Steering Committee meeting. </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"">Issuing a statement on Friday, IPPAN Chair Krishna Prasad Acharya expressed hope that the agreement between Nepal and India would add a new dimension to the country's electricity trade and would further consolidate mutual relations between Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that the meeting has created a base for Nepal to export power up to Bangladesh, IPPAN said such an agreement would play an important role in the development of electricity in 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"">IPPAN further said that the decisions taken by the meeting would help promote investment in the energy sector and big projects as well as transmission lines and also improve inter-state energy trade. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-02-27', 'modified' => '2022-02-27', 'keywords' => '', 'description' => '', 'sortorder' => '14575', 'image' => '20220227082509_aaa.jpg', 'article_date' => '2022-02-27 08:22:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14831', 'article_category_id' => '1', 'title' => 'Sauraha Starts Bustling with Tourists ', 'sub_title' => '', 'summary' => 'February 25: Sauraha, one of the prime tourist destinations in Nepal, has seen arrival of foreign tourists after a long gap.', '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"">February 25: Sauraha, one of the prime tourist destinations in Nepal, has seen arrival of foreign tourists after a long gap. The tourism sector, which has slowed down due to the impact of Covid-19, is now showing signs of recovery. European tourists in particular have started coming to Sauraha after a long time, according to the hoteliers of the region.</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"">"Booking of Indian tourists is also good," said Deepak Bhattarai, president of the Chitwan Regional Hotel Association. </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"">During this time of the year, hotel occupancy in Sauraha used to be 90 percent but it is just 14 percent at present, says Bhattarai.</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"">“But the good news is that foreign tourists have started coming.” </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 Suman Ghimire, the manager of Jungle Safari Lodge, tourists from Germany, the Netherland, Israel, and other countries have started coming. He is hopeful that the tourism sector will be back to normal business from coming October as the number of inquiries has increased.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“With the decline in risk of Covid-19, there has been an improvement in hotel bookings for seminars and meetings,” he said, adding</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">, “Foreign tourists have been seen sporadically after a long time. Nowadays, they also come in groups.”</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"">Ghimire, who is also a former president of the Regional Hotel Association Chitwan, estimates that the number of foreign tourists visiting Nepal would improve significantly by 2023. Foreign tourists have started riding elephants in community forests, including Chitwan National Park, he further said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rishi Tiwari, chairman of the United Elephant Management Cooperative, which has been managing elephants, said that especially Asian tourists have started coming to ride elephants. There are 31 elephants with the cooperative. Among them, 20 to 25 of them have started getting daily work.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> He says that tourists from Nepal, India, and third countries have started coming to the area. Similarly, elephant safari is available in the Baghmara Community Forest. The chairman of the committee Jit Bahadur Tamang also confirmed that foreign tourists have started arriving.</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"">Santosh Giri, chief executive officer of Hotel Jungle Crown, said hotel has been almost booked for weekends.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Apart from sight-seeing, visitors also come here for weddings and other big gatherings. Sauraha has become a popular choice among tourists as it is possible to book a good hotel room at an affordable price.</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"">As Chitwan is located in the middle of the country, big organizations often hold trainings, meetings, and conferences here. Mostly, Indians come here for weddings. </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"">There are 120 hotels in Sauraha. These hotels can accommodate up to five thousand five hundred tourists. Entrepreneurs say that the hotels here have received huge investments in recent years.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-25', 'modified' => '2022-02-25', 'keywords' => '', 'description' => '', 'sortorder' => '14574', 'image' => '20220225053240_Chitwan-sunset-sauraha-nepal.jpg', 'article_date' => '2022-02-25 17:31:56', '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
