February 4: The number of tourists visiting Nepal in the first month of 2022 has increased by more than 91 percent compared to the corresponding period of…
February 4: The number of tourists visiting Nepal in the first month of 2022 has increased by more than 91 percent compared to the corresponding period of…
February 4: The government has appointed Krishna Bahadur Karki as the Chief Executive Officer (CEO) of Nepal Stock Exchange…
February 4: Normal life in Humla district has been thrown out of gear due to snowfall that occurred from Thursday…
February 4: Heavy snowfall since last night has disrupted vehicular movement along different highways across the…
February 3: The government is preparing to classify the private companies involved in foreign employment business.…
February 3: The Special Economic Zone (SEZ) established five years ago in Bhairahawa of Rupandehi district has not been able to achieve the expected…
February 3: The government has taken decisive steps to ratify the US Millennium Challenge Corporation (MCC)…
February 3: The return on investment of banks is declining compared to their capital.…
February 3: The friendly football matches between Nepal and Mauritius held recently is expected to become a milestone for promoting business and tourism between the two…
February 3: The government has fixed the minimum price of unprocessed milk as per the demand of farmers to hike the price of…
February 3: The Meteorological Forecasting Division has warned that the Westerly wind that entered Nepal from the western part last night is likely to trigger light to moderate thunder showers and snowfall for the next two…
February 2: Nepal and India have entered into an agreement to construct a motorable bridge over the Mahakali River to connect the two…
February 2: The impact of Westerly wind is expected to increase in different parts of the country from tonight (February 2) onward.…
February 2: The Helambu-Melamchi Flood Victims Concern Committee has stated that they will not allow the Melamchi Water Supply Project to undertake any work until their demands are…
February 2: Investors operating companies in Nepal are at the receiving end due to double taxation on…
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During the review period, 17,984 Nepali citizens left the country for foreign visit. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">NTB Director Maniraj Lamichhane said that the improvement in arrival of foreign tourists amidst the ongoing crisis is a boost to the tourism sector that has been hard-hit by the pandemic.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> “This figure has given a message that foreign tourists have started visiting Nepal. This has also provided enthusiasm to the tourism sector that has been hampered by the virus,” he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The highest number of tourists arriving in Nepal in January is from the SAARC countries –</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">5,505 including 3,916 from neighbouring India and 1,231 from Bangladesh. Other visitors were from Europe, Asia and other countries, NTB said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the board, a total 150,962 foreign tourists had visited Nepal in 2021, while the figure stood at 230,000 in 2020. </span></span></span></p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14465', 'image' => '20220204120838_Tourist.jpg', 'article_date' => '2022-02-04 12:07:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14723', 'article_category_id' => '1', 'title' => 'Government Appoints Karki as CEO of NEPSE ', 'sub_title' => '', 'summary' => 'February 4: The government has appointed Krishna Bahadur Karki as the Chief Executive Officer (CEO) of Nepal Stock Exchange (NEPSE).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 4: The government has appointed Krishna Bahadur Karki as the Chief Executive Officer (CEO) of Nepal Stock Exchange (NEPSE). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the Council of Ministers on January 31 appointed Karki for a four-year term.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The post was lying vacant since August 24 after the resignation of the then CEO Chandra Singh Saud over a row related to the purchase of shares of Sarvottam Cement against the rules.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Saud had reiterated that he did not breach any law but tendered his resignation to facilitate the investigation process.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Altogether 11 aspirants had applied for the post of NEPSE’s CEO after Saud stepped down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Karki, a resident of Palpa, holds a bachelor's degree in economics and public administration. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14464', 'image' => '20220204011238_krishna-bahadur-karki.jpg', 'article_date' => '2022-02-04 13:11:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14720', 'article_category_id' => '1', 'title' => 'Snowfall Impacts Life in Humla ', 'sub_title' => '', 'summary' => 'February 4: Normal life in Humla district has been thrown out of gear due to snowfall that occurred from Thursday morning. ', 'content' => '<p><em>Simikot, the district headquarters of Humla, covered in a blanket of snow in this recent photo. RSS</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 4: Normal life in Humla district has been thrown out of gear due to snowfall that occurred from Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Regular flights have also been disrupted owing to the snowfall. As the flights could not take place, the supply of foodstuff from Nepalgunj and Surkhet has also been affected. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, service delivery from the government and non-governmental organisations has also been impacted by the snowfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Humla is one of the most remote districts of Nepal which heavily relies on air transportation despite newly-built road access to the lower belt of the district. As the district falls in mountainous region, it witnesses heavy rainfall each year. People of the northern belt often migrate to the low lands during winter to avoid excessive cold.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the entire official works of the District Administration Office, Humla, have been suspended after Assistant Chief District Officer Dasharath Rai tested positive for corona virus infection. <em>(With inputs from RSS)</em></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14463', 'image' => '20220204113435_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-02-04 11:33:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14719', 'article_category_id' => '1', 'title' => 'Heavy Snowfall Disrupts Vehicular Movement along Several Highways ', 'sub_title' => '', 'summary' => 'February 4: Heavy snowfall since last night has disrupted vehicular movement along different highways across the country. ', 'content' => '<p><em>A vehicle negotiates its way through thick snow in Baitadi district. Photo: RSS</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 4: Heavy snowfall since last night has disrupted vehicular movement along different highways across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Heavy snowfall taking place at Simbhanjyang and Aghor areas of Tribhuvan Highway has obstructed vehicular movement from 2:00 am this morning (February 4), the state-owned RSS reported citing the Area Police Office, Palung.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The local authorites were facing difficulties clearing the snow as the areas witnessed heavy snowfall coupled with rainfall, Mayor of Thaha Municipality Labsher Bista was quoted as saying by the RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Vehicles heading to Kathmandu from Hetauda have been stranded at Aghor area of Tribhuvan Highway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deputy Superintendent of Police (DSP) at the District Police Office, Makawanpur, Jayashwor Rimal said preparations are on to resume vehicular movement by this afternoon if the weather improves. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the Bhimdutta Highway that connects seven hill districts of Sudurpaschim Province has also been obstructed following heavy snowfall since Thursday night. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Area Police Office at Budar confirmed that the snowfall taking place since last night has disrupted vehicular movement there and efforts are ongoing to clear the snow. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dozens of vehicles and a large number of passengers have been stranded at Gaira and Budar areas in Doti. While Sahukharka, Gaira, Hagulte and the nearby areas are blanketed with snow in the district, RSS further reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Pahalmansingh Swar Highway from Silgadhi of Doti to Sanfe of Achham district has also been obstructed due to snowfall. Vehicles heading to Bajura and Achham districts from the Tarai and to Tarai from the hill districts have been stranded at different points after heavy snowfall in Chaukhutte area. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The snowfall has badly affected people's lives as they are facing difficulty to move outside their homes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khaptad, Goladeu, Napani, Charkekolek, Badikedarthan, Alyadi, Chauribaj, Okharkhali, Mustal and other areas in the region have witnessed heavy snowfall from Thursday, RSS reported. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14462', 'image' => '20220204112309_VijayRawat_Khalanga_RSS_21_IMG_20220204_085454(2).jpg', 'article_date' => '2022-02-04 11:21:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14718', 'article_category_id' => '1', 'title' => 'Government Preparing to Classify Foreign Employment Companies', 'sub_title' => '', 'summary' => 'February 3: The government is preparing to classify the private companies involved in foreign employment business. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 3: The government is preparing to classify the private companies involved in foreign employment business. This is being done to make foreign employment systematic and dignified. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Labor, Employment and Social Security has formed a task force under the coordination of Joint Secretary of the Ministry, Rajiv Pokharel, to prepare the necessary procedures for classifying the foreign employment companies by determining required criteria and standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the task force formed on February 3 includes the chief of the Foreign Employment Office, the executive director of the Foreign Employment Board and representatives of the foreign employment companies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, there are 860 registered foreign employment companies in the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14461', 'image' => '20220203081558_20211215023334_20200315123851_1111.jpg', 'article_date' => '2022-02-03 20:15:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14717', 'article_category_id' => '1', 'title' => 'Special Economic Zone Fails to Achieve Expected Result', 'sub_title' => '', 'summary' => 'February 3: The Special Economic Zone (SEZ) established five years ago in Bhairahawa of Rupandehi district has not been able to achieve the expected result.', '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 3: The Special Economic Zone (SEZ) established five years ago in Bhairahawa of Rupandehi district has not been able to achieve the expected result.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government's objective has not been achieved as the SEZ located in Rohini Municipality-1 Bagaha of the district has not been able to achieve the target of reducing the trade deficit by increasing exports.</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"">Special Economic Zone (SEZ) Bhairahawa informed that among the six industries situated at the SEZ, some have been exporting for four years. However, there are only two industries that export 60 percent of the production.</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"">Brilliant LED, Shakti Mineral, Vistar Company, Panchakanya Udyog, Jaya Buddha, and S Polymer are operating on the SEZ premises with Tirupati Metal all set to come into operation. Of the three industries that have been exporting since 2076 BS, Brilliant LED exported 58 percent of its products, Shakti Mineral 24 percent, and Vistar 100 percent in the fiscal year 2076/77.</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"">Similarly, in the fiscal year 277/78, Brilliant LED exported 24 percent, Shakti 2.5 percent, Vistar 99 percent of their production, while Panchakanya’s exports were limited to just 2 percent, according to the Special Economic Zone (SEZ). </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"">Chandika Bhatta, the executive director of the SEZ, said the state should cut production costs from SEZ industries. Bhatta further said that adding the “threshold” for exports was not effective.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We have not been able to achieve the expected results due to weak policy of the state,” said Bhatta while requesting the government to make the production sector of Nepal industry-friendly and enabling the industries to compete in the internal market by amending the laws.</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 of December of the current fiscal year, Brilliant LED has exported 48 percent of its production, Shakti 12 percent, Vistar 87 percent, and Panchakanya wrapped up at just 1 percent of the production. Currently, Jaya Buddha and S Polymer are also producing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Special Economic Zone was set up to encourage industries to produce goods that are in high demand in foreign countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Initially, the provision was to export 75 percent of the production, but now, it has been reduced to 60 percent.</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 is a provision for the operation of 17 types of industries in the SEZ including the food industry and agro-industry, herbal products, leather goods, readymade garments, carpets and woolen goods, pashmina and silk, handicraft products.</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"">Nira Bhattarai of Bhairahawa Special Economic Zone informed that work is underway to expedite the exports of SEZ from Belahiya, located near the customs office without any delay. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had started the process of land acquisition in Bhairahawa in 2001 to set up an export promotion center. Construction of SEZ started in Bhairahawa in 2008 with the introduction of SEZ Ordinance in 2005.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the SEZ Bill was introduced in Parliament in 2008, the Act authenticated only in 2016. Despite the government's announcement in 2010 to provide income tax, VAT, customs, and other exemptions and facilities to the industries in the SEZ through industrial policy, the industrialists are reluctant to set up industries in the SEZ. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14460', 'image' => '20220203030134_IMG_0054_1487750323.jpg', 'article_date' => '2022-02-03 15:00:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14716', 'article_category_id' => '1', 'title' => 'PM Deuba Takes Initiative to Endorse MCC', 'sub_title' => '', 'summary' => 'February 3: The government has taken decisive steps to ratify the US Millennium Challenge Corporation (MCC) agreement.', '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 3: The government has taken decisive steps to ratify the US Millennium Challenge Corporation (MCC) agreement.</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"">Prime Minister Sher Bahadur Deuba has taken the initiative to move ahead with the US grant agreement. Stating that it is the responsibility of the parliament whether to approve the MCC, he has taken the initiative to move the process forward immediately.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the last one week, there has been intense discussion about MCC within the coalition government led by PM Deuba. But instead of reaching a consensus among the coalition partners, differences over the MCC continue to escalate. The gap has widened due to the stand taken by other parties within the alliance except for the Nepali Congress that the MCC cannot be passed in tis current form without amendment.</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 a source close to Deuba, the prime minister is planning to pass the MCC by the end of February. "The prime minister has informed the US official that a decision on the MCC will be taken by the parliament by February 28. So he has taken a decisive steps," the source said requesting anonymity</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The prime minister has also tried to persuade top leaders within the coalition government to approve the MCC. Discussion is ongoing between Congress President and Prime Minister Deuba, CPN-Maoist Centre Chairman Pushpa Kamal Dahal, and CPN-Unified Socialist Chairman Madhav Kumar Nepal after a dispute arose within the alliance regarding the MCC.</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"">CPN (MC) Chairman Dahal and CPN (US) Chairman Nepal had reached the PM's residence in Baluwatar on Wednesday morning to meet Prime Minister Deuba to discuss the matter. During the meeting, the leaders said that Deuba wanted to pass the MCC without breaking the alliance.</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"">They said that the PM has asked for suggestions to improve the MCC. Speaking at a party function after the meeting, CPN (US) Chairman Madhav Kumar Nepal said, "The PM is working to get the MCC passed by taking the coalition partners into confidence.”</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"">It has been learnt that PM Deuba is likely to seek support from the UML to pass the MCC if the other ruling parties do not agree to endorse the MCC. That is the reason why the CPN-Maoist Center and the CPN Unified Socialist party have become suspicious lately.</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"">NC leaders Purna Bahadur Khadka and Gyanendra Bahadur Karki had reached Khumaltar for a dialogue with CPN (Maoist Centre) Chairman Dahal to bring the ruling coalition to an agreement.</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"">On the other hand, Home Minister Bal Krishna Khand had reached the residence of Madav Nepal at Koteshwor as the envoy of Prime Minister Deuba.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14459', 'image' => '20220203024041_MCC.jpg', 'article_date' => '2022-02-03 14:40:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14715', 'article_category_id' => '1', 'title' => 'Return on Investment of Banks Declining ', 'sub_title' => '', 'summary' => 'February 3: The return on investment of banks is declining compared to their capital. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 3: The return on investment of banks is declining compared to their capital. The rate of return has been declining as banks have been burdened with excessive capital. </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 Nepal Bankers' Association, the average return on capital (return on equity) as of January 2022 in the current Fiscal Year (FY) is 12.51 percent. In the corresponding period of the previous fiscal year, the return on equity of banks was 12.70 percent. Compared to the previous year, the returns of 18 banks have decreased this year while the returns of only nine banks have increased. </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 Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of chairpersons and directors of banks and financial institutions, has also drawn the attention of Nepal Rastra Bank (NRB) saying that the returns of banks are declining and this is discouraging investors. </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 rumor in the market that banks and financial institutions are making huge profits and NRB has also issued directives accordingly," reads a study report submitted by CBFIN to NRB Governor Maha Prasad Adhikari in December. "Even though the capital of banks has increased four folds, the return on investment has been declining." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that the rate of return of banks and financial institutions have been declining continuously since 2073, the report urged the central bank to allow the interest rate to be determined according to the concept of open market instead of limiting the spread rate in order to meet this challenge. </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"">Similarly, the return on investment of banks is also declining. According to CBFIN, the return was 19 percent in 2068 which reached 23 percent in 2073. After that, it decreased to 12 percent in 2077. </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"">Prakash Kumar Shrestha, executive director of the research department of NRB, says that the return on investment of banks and financial institutions is not bad. "The rate of return of banks is declining," he said, "However, it is still higher than the return on bank deposits." </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"">Banker Analraj Bhattarai says that is no need to panic because banks have been set up with long-term investment.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14458', 'image' => '20220203022000_Banks - Copy.jpg', 'article_date' => '2022-02-03 14:19:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14714', 'article_category_id' => '1', 'title' => 'Friendly matches between Nepal and Mauritius Raise Prospects of Business Promotion', 'sub_title' => '', 'summary' => 'February 3: The friendly football matches between Nepal and Mauritius held recently is expected to become a milestone for promoting business and tourism between the two countries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 3: The friendly football matches between Nepal and Mauritius held recently is expected to become a milestone for promoting business and tourism between the two countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the Nepal-Mauritius Business Council expressed such opinion during a dinner reception organized in Kathmandu on February 2 to honour the visiting national football team of Mauritius.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ganesh Karki, the honorary consul of the Republic of Mauritius to Nepal, congratulated the Mauritius National Team for being the first ever African Nation to play a football friendly in Nepalese turf and believes that this will be a stepping stone in developing tourism business.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This event is an important step for future business prospects and investment,” added Karki.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Welcoming the members of Mauritius’ football team, chairman of the council Batu Lamichhane said that the event will help establish a good relationship between the two countries at the people-to-people level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The football match was a good beginning to promote trade and tourism between the two countries,” added Lamichhane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The two friendly football matches between Nepal and Mauritius were organized recently at the initiative of Nepal-Mauritius Business Council. Nepal won both the matches with an identical scoreline of 1-0. Nepal had registered victory in an international friendly at home ground after 10 years.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14457', 'image' => '20220203124623_1643821337.272671406_364821928385574_8807902730253270851_n.jpg', 'article_date' => '2022-02-03 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14713', 'article_category_id' => '1', 'title' => 'Government Fixes Minimum Price of Unprocessed Milk', 'sub_title' => '', 'summary' => 'February 3: The government has fixed the minimum price of unprocessed milk as per the demand of farmers to hike the price of milk.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">February 3: The government has fixed the minimum price of unprocessed milk as per the demand of farmers to hike the price of milk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">A meeting of the Council of Ministers on Monday (January 30) fixed the minimum price of unprocessed milk at Rs 56.4 per litre, according to Government Spokesperson Gyanendra Bahadur Karki. Prior to this, the price of unprocessed milk was Rs 49.52 per litre.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The farmers had been demanding a hike in price of milk since a long time stating that the price of cattle feed and cost of production had gone up.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">However, the farmers’ demand have only been partly addressed by the price adjustment. They had been demanding a hike of at least Rs 15 to Rs 20 per litre in the context that the production cost of a litre of milk has reached Rs 63.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The government increased the price of milk upon the recommendation of a committee formed to adjust the price of milk. A report prepared by the committee had recommended the government to increase the price of milk by Rs 10 per litre.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The report states that the farmers had to bear loss of Rs 4 per litre while selling milk at the rate before the recent adjustment. The report further states that the price of milk needs to be adjusted with time as the price of veterinary medicine, the salary and allowances of the person tending the cattle, transportation cost and the prices of other goods and equipment have shot up. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Although the price of milk used to be adjusted every year in the past, it had not been increased for the past two and half years. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14456', 'image' => '20220203111904_20220121121357_20200423093954_1542865405_16685959.jpg', 'article_date' => '2022-02-03 11:18:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14712', 'article_category_id' => '1', 'title' => 'Aviation, Mountaineering Sectors likely to Suffer Impact of Westerly Wind ', 'sub_title' => 'Rainfall and Snow Predicted for Next Two Days', 'summary' => 'February 3: The Meteorological Forecasting Division has warned that the Westerly wind that entered Nepal from the western part last night is likely to trigger light to moderate thunder showers and snowfall for the next two days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 3: The Meteorological Forecasting Division has warned that the Westerly wind that entered Nepal from the western part last night is likely to trigger light to moderate thunder showers and snowfall for the next two days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This atmospheric condition may have its implications on aviation sector, mountaineering, agriculture, transport and people’s daily life, the division said in a notice. Due to the weather change, cold is likely to rise and the division has urged all to take precautionary measures against it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather remained partly to generally cloudy in Province 1, Bagmati Province, Gandaki Province and Lumbini Province and generally to mostly cloudy in Karnali Province and Sudurpaschim Province and mainly fair in Madesh Province last night. Light rainfall occured at some places of Karnali Province and Sudurpaschim Province while high hills and mountains witnessed snowfall.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On Thursday, the weather will be generally to fully cloudy in Sudurpaschim Province, Karnali Provice, Lumbini Province and Gandaki Province while Bagmati Province, Madhes Province and Province 1 will see partial to generally cloudy condition. There are chances of light snowfall at high-hills and a few places of mountainous regions of Sudurpaschim, Karnali, Lumbini, and Gandaki Provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there is possibility of light snowfall at some places of highlands and mountainaous regions of Bagmati Province and Province 1 while light to moderate thunder showers have been forecast at many places of the hill and Terai regions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be generally to fully cloudy weather across the country on Friday and on Saturday. On Friday, light to moderate snowfall at few places of high-hills and mountainous region is likely to occur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact of the Westerly wind will continue till Saturday and the weather is likely to improve from Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a possibility of light to moderate snowfall in some places in the high hills and mountains on Saturday, too. There are chances of light to moderate rainfall in many parts of the hills and Terai. <em>(With inputs from RSS) </em></span><br /> </span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14455', 'image' => '20220203082655_DB-Simkot-AirUdana.jpg', 'article_date' => '2022-02-03 08:25:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14711', 'article_category_id' => '1', 'title' => 'Nepal, India ink deal for Construction of a Motorable Bridge over Mahakali River ', 'sub_title' => '', 'summary' => 'February 2: Nepal and India have entered into an agreement to construct a motorable bridge over the Mahakali River to connect the two countries.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: Nepal and India have entered into an agreement to construct a motorable bridge over the Mahakali River to connect the two countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge will be constructed in Dharchula district with the grant assistance of the Government of India. The bridge, once completed, will connect Darchula of Nepal with Dharchula of India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A Memorandum of Understanding (MoU) to this effect was signed by the representatives of Nepal and India on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Ambassador to Nepal Vinay Mohan Kwatra and Secretary at the Ministry of Physical Infrastructure and Transport Rabindra Nath Shrestha signed the MoU at the ministry on Tuesday (February 1) in the presence of Minister for Physical Infrastructure and Transport Renu Kumari Yadav. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a statement, the Indian Embassy in Kathmandu said that the construction of the bridge will begin soon.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge would enhance cross-border connectivity between the Sudurpaschim Province of Nepal and Uttarakhand State of India where people-to-people relation exists between communities on both sides of the border, reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Indian Embassy further said that the bridge would also serve the policy to further strengthen commercial and cultural bonds as well as the people-to-people exchanges. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge is being built in line with the priority of both the governments to expand cross-border connectivity for enhancing commercial, cultural and people-to-people ties. </span></span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14454', 'image' => '20220202064201_20210817022722_Fl_600x600.jpg', 'article_date' => '2022-02-02 18:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14710', 'article_category_id' => '1', 'title' => 'Impact of Westerly Wind to Rise from February 3', 'sub_title' => '', 'summary' => 'February 2: The impact of Westerly wind is expected to increase in different parts of the country from tonight (February 2) onward. ', 'content' => '<p><em>Aeroplanes stranded in Humla in this recent photo. Photo Courtesy: RSS</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: The impact of Westerly wind is expected to increase in different parts of the country from tonight (February 2) onward. According to the Department of Hydrology and Meteorology, the prevalence of Westerly wind that is having partial impact in the country’s weather right now is likely to increase its influence from tonight onward. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall is likely to take place in some areas of Province 1, Bagmati Province, Gandaki Province, Madhes Province and Lumbini Province, the department shared. There are high chances of light snowfall in some places of high hills and mountainous range of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has urged all concerned people to adopt necessary safety and precautionary measures to stem the risk emanating from the weather changes. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14453', 'image' => '20220203082523_NabinLamichhane_Manang_RSS_14.jpg', 'article_date' => '2022-02-02 18:28:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14709', 'article_category_id' => '1', 'title' => 'Locals of Melamchi warn of Obstructing Project Work', 'sub_title' => '', 'summary' => 'February 2: The Helambu-Melamchi Flood Victims Concern Committee has stated that they will not allow the Melamchi Water Supply Project to undertake any work until their demands are met.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">February 2: The Helambu-Melamchi Flood Victims Concern Committee has stated that they will not allow the Melamchi Water Supply Project to undertake any work until their demands are met.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee handed over a memorandum with a six-point demand to the project's executive director Basudev Poudel on Tuesday. The committee has warned to stop all of the works of the Melamchi Water Supply Project until the demands of the flood-affected locals are implemented.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President of the Helambu-Melamchi Flood Victims Concern Committee, Bharat Thapa said that the work of the project will be stopped completely from February 3. “We have informed the Melamchi Water Supply Project, the Asian Development Bank, and the Sindhupalchok District Administration Office that the project will be completely shut down from February 3 if the demand of the locals is not met,” Thapa said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that the work of the project will be stopped by holding a public hearing on February 3 at Kiul Bagar in Helambu. Thapa said that the project work has to be stopped because of the negligence and irresponsibility of the concerned bodies working in the affected areas even after nine months of the floods.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee has demanded that the stones, sand, and ballast should be stored in a safe place while cleaning the source of the tunnel, and comply with the agreement reached for long term development. The committee has also demanded that the budget should be provided with necessary equipment for the conservation of remaining settlements and cultivable land in the Melamchi river basin area. Moreover, the committee has also demanded that the Melamchi-Timbu road connecting the source of the river should be upgraded immediately so that it can be operated even during the rainy season and the preparation of a detailed study report for the reconstruction of the lower coastal area and risk reduction from the catchment area of the source of Melamchi river.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Receiving the memorandum along with the demand submitted by the committee, the project's executive director Poudel said that since the headworks of Melamchi Water Supply Project at Ambathan and reconstruction of other physical infrastructure of the project have been initiated, the demand of the locals will be gradually addressed. “We are working systematically. The locals also need to support the project,” he said, adding, “Halting the work alone is not the solution to the problem. We are trying to address the demands of the locals.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee found that the main reason for the massive damage caused by the flood in Melamchi River was a large amount of cement, poles, chemicals, and other construction materials, heavy equipment, raw materials piled up at the project site, and unmanaged dumping in Ambathan.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee has emphasized that the project should focus mainly on protection of livelihood of flood-affected people, systematic rehabilitation of displaced families, relocation and reclamation of land for the livelihood of affected families, protection of farms and personal and public property and reconstruction of damaged roads, irrigation, school buildings, crematoriums, temples, and other public infrastructure. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has entered into an agreement with Chinese company Sino Hydro to reconstruct the project and divert water following the damage caused by flooding of the Melamchi River and landslides on June 15. The Chinese company, which was handed the contract after the government allocated Rs 360 million to repair the project, has already started the work of reconstruction.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14452', 'image' => '20220202062243_20210906103006_20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2022-02-02 18:22:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14708', 'article_category_id' => '1', 'title' => 'Investor Rue ‘Double Taxation’ Policy', 'sub_title' => '', 'summary' => 'February 2: Investors operating companies in Nepal are at the receiving end due to double taxation on profit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 2: Investors operating companies in Nepal say they are at the receiving end due to double taxation on profit.</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"">Especially, investors (institutional and general shareholders) of public companies are hit hardest by the double taxation policy.</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"">Shareholders and investors themselves do not have to pay taxes twice. However, their return from investment is taxed twice. As a result, investors and shareholders have been complaining that they are suffering from double taxation.</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"">Shareholders and investors have long demanded a one-time tax on income. However, the concerned bodies have been ignoring this demand from the very beginning.</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"">Companies first pay an income tax of 25 percent to 30 percent of their profits. Banks and financial institutions, as well as companies that produce hazardous items like cigarettes and alcohol, pay up to 30 percent of their profits as income tax.</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"">Companies of other natures have been paying income tax up to 25 percent. The shareholders have been paying an additional 5 percent tax even after distributing the remaining net profit as dividend. As a result, the shareholders and investors argue that they are affected by double taxation on the same income.</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"">Once a tax has been paid, it should not be subject to taxation again. However, the government has been raising taxes on companies in a way that is not acceptable to them, said one investor.</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 company will make a profit from the investor's investment. And, that profit belongs to the investor,” he said. Accordingly, there is no justification for levying tax when distributing post-tax profits as dividends,” he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investors of banks and financial institutions have been hit even harder, he further 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"">Raju Prasad Pyakurel, information officer of the Inland Revenue Department, argues that this arrangement is right from every point of view.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He says the theoretical side of the economy, international practice, Nepal's law, and practice are also justifiable.</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"">‘First, the tax paid by the company has become the tax paid by the company itself from its income. After that, the shareholders will have to pay tax for the dividend,” he said, adding, “Therefore, this arrangement is justifiable.”</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"">Advocate Jyoti Dahal, a scholar on stocks, also said that the provision was legal and 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 company has paid income tax, and the shareholders have paid profit tax. Therefore, this tax system is one-sided in which the shareholders are not affected by double taxation, says Dahal. “So the shareholders have to accept it naturally,” he opined.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14451', 'image' => '20220202034222_double-taxation-1024x634.jpeg', 'article_date' => '2022-02-02 15:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14721', 'article_category_id' => '1', 'title' => 'Arrival of Foreign Tourists up in January', 'sub_title' => '', 'summary' => 'February 4: The number of tourists visiting Nepal in the first month of 2022 has increased by more than 91 percent compared to the corresponding period of 2021.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 4: The number of tourists visiting Nepal in the first month of 2022 has increased by more than 91 percent compared to the corresponding period of 2021.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Tourism Board (NTB) confirmed that the influx of foreign tourists to Nepal has increased by 91.3 percent amid the global COVID-19 pandemic.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The board informed that 16,975 foreigners visited Nepal in January, 2022 against 8,874 during the same period in the previous year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">All the incoming tourists used air route for the arrival, NTB said unveiling the latest data provided by the Department of Immigration on Thursday. During the review period, 17,984 Nepali citizens left the country for foreign visit. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">NTB Director Maniraj Lamichhane said that the improvement in arrival of foreign tourists amidst the ongoing crisis is a boost to the tourism sector that has been hard-hit by the pandemic.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> “This figure has given a message that foreign tourists have started visiting Nepal. This has also provided enthusiasm to the tourism sector that has been hampered by the virus,” he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The highest number of tourists arriving in Nepal in January is from the SAARC countries –</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">5,505 including 3,916 from neighbouring India and 1,231 from Bangladesh. Other visitors were from Europe, Asia and other countries, NTB said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the board, a total 150,962 foreign tourists had visited Nepal in 2021, while the figure stood at 230,000 in 2020. </span></span></span></p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14465', 'image' => '20220204120838_Tourist.jpg', 'article_date' => '2022-02-04 12:07:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14723', 'article_category_id' => '1', 'title' => 'Government Appoints Karki as CEO of NEPSE ', 'sub_title' => '', 'summary' => 'February 4: The government has appointed Krishna Bahadur Karki as the Chief Executive Officer (CEO) of Nepal Stock Exchange (NEPSE).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 4: The government has appointed Krishna Bahadur Karki as the Chief Executive Officer (CEO) of Nepal Stock Exchange (NEPSE). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the Council of Ministers on January 31 appointed Karki for a four-year term.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The post was lying vacant since August 24 after the resignation of the then CEO Chandra Singh Saud over a row related to the purchase of shares of Sarvottam Cement against the rules.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Saud had reiterated that he did not breach any law but tendered his resignation to facilitate the investigation process.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Altogether 11 aspirants had applied for the post of NEPSE’s CEO after Saud stepped down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Karki, a resident of Palpa, holds a bachelor's degree in economics and public administration. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14464', 'image' => '20220204011238_krishna-bahadur-karki.jpg', 'article_date' => '2022-02-04 13:11:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14720', 'article_category_id' => '1', 'title' => 'Snowfall Impacts Life in Humla ', 'sub_title' => '', 'summary' => 'February 4: Normal life in Humla district has been thrown out of gear due to snowfall that occurred from Thursday morning. ', 'content' => '<p><em>Simikot, the district headquarters of Humla, covered in a blanket of snow in this recent photo. RSS</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 4: Normal life in Humla district has been thrown out of gear due to snowfall that occurred from Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Regular flights have also been disrupted owing to the snowfall. As the flights could not take place, the supply of foodstuff from Nepalgunj and Surkhet has also been affected. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, service delivery from the government and non-governmental organisations has also been impacted by the snowfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Humla is one of the most remote districts of Nepal which heavily relies on air transportation despite newly-built road access to the lower belt of the district. As the district falls in mountainous region, it witnesses heavy rainfall each year. People of the northern belt often migrate to the low lands during winter to avoid excessive cold.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the entire official works of the District Administration Office, Humla, have been suspended after Assistant Chief District Officer Dasharath Rai tested positive for corona virus infection. <em>(With inputs from RSS)</em></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14463', 'image' => '20220204113435_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-02-04 11:33:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14719', 'article_category_id' => '1', 'title' => 'Heavy Snowfall Disrupts Vehicular Movement along Several Highways ', 'sub_title' => '', 'summary' => 'February 4: Heavy snowfall since last night has disrupted vehicular movement along different highways across the country. ', 'content' => '<p><em>A vehicle negotiates its way through thick snow in Baitadi district. Photo: RSS</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 4: Heavy snowfall since last night has disrupted vehicular movement along different highways across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Heavy snowfall taking place at Simbhanjyang and Aghor areas of Tribhuvan Highway has obstructed vehicular movement from 2:00 am this morning (February 4), the state-owned RSS reported citing the Area Police Office, Palung.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The local authorites were facing difficulties clearing the snow as the areas witnessed heavy snowfall coupled with rainfall, Mayor of Thaha Municipality Labsher Bista was quoted as saying by the RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Vehicles heading to Kathmandu from Hetauda have been stranded at Aghor area of Tribhuvan Highway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deputy Superintendent of Police (DSP) at the District Police Office, Makawanpur, Jayashwor Rimal said preparations are on to resume vehicular movement by this afternoon if the weather improves. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the Bhimdutta Highway that connects seven hill districts of Sudurpaschim Province has also been obstructed following heavy snowfall since Thursday night. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Area Police Office at Budar confirmed that the snowfall taking place since last night has disrupted vehicular movement there and efforts are ongoing to clear the snow. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dozens of vehicles and a large number of passengers have been stranded at Gaira and Budar areas in Doti. While Sahukharka, Gaira, Hagulte and the nearby areas are blanketed with snow in the district, RSS further reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Pahalmansingh Swar Highway from Silgadhi of Doti to Sanfe of Achham district has also been obstructed due to snowfall. Vehicles heading to Bajura and Achham districts from the Tarai and to Tarai from the hill districts have been stranded at different points after heavy snowfall in Chaukhutte area. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The snowfall has badly affected people's lives as they are facing difficulty to move outside their homes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khaptad, Goladeu, Napani, Charkekolek, Badikedarthan, Alyadi, Chauribaj, Okharkhali, Mustal and other areas in the region have witnessed heavy snowfall from Thursday, RSS reported. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14462', 'image' => '20220204112309_VijayRawat_Khalanga_RSS_21_IMG_20220204_085454(2).jpg', 'article_date' => '2022-02-04 11:21:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14718', 'article_category_id' => '1', 'title' => 'Government Preparing to Classify Foreign Employment Companies', 'sub_title' => '', 'summary' => 'February 3: The government is preparing to classify the private companies involved in foreign employment business. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 3: The government is preparing to classify the private companies involved in foreign employment business. This is being done to make foreign employment systematic and dignified. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Labor, Employment and Social Security has formed a task force under the coordination of Joint Secretary of the Ministry, Rajiv Pokharel, to prepare the necessary procedures for classifying the foreign employment companies by determining required criteria and standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the task force formed on February 3 includes the chief of the Foreign Employment Office, the executive director of the Foreign Employment Board and representatives of the foreign employment companies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, there are 860 registered foreign employment companies in the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14461', 'image' => '20220203081558_20211215023334_20200315123851_1111.jpg', 'article_date' => '2022-02-03 20:15:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14717', 'article_category_id' => '1', 'title' => 'Special Economic Zone Fails to Achieve Expected Result', 'sub_title' => '', 'summary' => 'February 3: The Special Economic Zone (SEZ) established five years ago in Bhairahawa of Rupandehi district has not been able to achieve the expected result.', '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 3: The Special Economic Zone (SEZ) established five years ago in Bhairahawa of Rupandehi district has not been able to achieve the expected result.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government's objective has not been achieved as the SEZ located in Rohini Municipality-1 Bagaha of the district has not been able to achieve the target of reducing the trade deficit by increasing exports.</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"">Special Economic Zone (SEZ) Bhairahawa informed that among the six industries situated at the SEZ, some have been exporting for four years. However, there are only two industries that export 60 percent of the production.</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"">Brilliant LED, Shakti Mineral, Vistar Company, Panchakanya Udyog, Jaya Buddha, and S Polymer are operating on the SEZ premises with Tirupati Metal all set to come into operation. Of the three industries that have been exporting since 2076 BS, Brilliant LED exported 58 percent of its products, Shakti Mineral 24 percent, and Vistar 100 percent in the fiscal year 2076/77.</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"">Similarly, in the fiscal year 277/78, Brilliant LED exported 24 percent, Shakti 2.5 percent, Vistar 99 percent of their production, while Panchakanya’s exports were limited to just 2 percent, according to the Special Economic Zone (SEZ). </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"">Chandika Bhatta, the executive director of the SEZ, said the state should cut production costs from SEZ industries. Bhatta further said that adding the “threshold” for exports was not effective.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We have not been able to achieve the expected results due to weak policy of the state,” said Bhatta while requesting the government to make the production sector of Nepal industry-friendly and enabling the industries to compete in the internal market by amending the laws.</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 of December of the current fiscal year, Brilliant LED has exported 48 percent of its production, Shakti 12 percent, Vistar 87 percent, and Panchakanya wrapped up at just 1 percent of the production. Currently, Jaya Buddha and S Polymer are also producing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Special Economic Zone was set up to encourage industries to produce goods that are in high demand in foreign countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Initially, the provision was to export 75 percent of the production, but now, it has been reduced to 60 percent.</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 is a provision for the operation of 17 types of industries in the SEZ including the food industry and agro-industry, herbal products, leather goods, readymade garments, carpets and woolen goods, pashmina and silk, handicraft products.</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"">Nira Bhattarai of Bhairahawa Special Economic Zone informed that work is underway to expedite the exports of SEZ from Belahiya, located near the customs office without any delay. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had started the process of land acquisition in Bhairahawa in 2001 to set up an export promotion center. Construction of SEZ started in Bhairahawa in 2008 with the introduction of SEZ Ordinance in 2005.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the SEZ Bill was introduced in Parliament in 2008, the Act authenticated only in 2016. Despite the government's announcement in 2010 to provide income tax, VAT, customs, and other exemptions and facilities to the industries in the SEZ through industrial policy, the industrialists are reluctant to set up industries in the SEZ. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14460', 'image' => '20220203030134_IMG_0054_1487750323.jpg', 'article_date' => '2022-02-03 15:00:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14716', 'article_category_id' => '1', 'title' => 'PM Deuba Takes Initiative to Endorse MCC', 'sub_title' => '', 'summary' => 'February 3: The government has taken decisive steps to ratify the US Millennium Challenge Corporation (MCC) agreement.', '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 3: The government has taken decisive steps to ratify the US Millennium Challenge Corporation (MCC) agreement.</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"">Prime Minister Sher Bahadur Deuba has taken the initiative to move ahead with the US grant agreement. Stating that it is the responsibility of the parliament whether to approve the MCC, he has taken the initiative to move the process forward immediately.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the last one week, there has been intense discussion about MCC within the coalition government led by PM Deuba. But instead of reaching a consensus among the coalition partners, differences over the MCC continue to escalate. The gap has widened due to the stand taken by other parties within the alliance except for the Nepali Congress that the MCC cannot be passed in tis current form without amendment.</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 a source close to Deuba, the prime minister is planning to pass the MCC by the end of February. "The prime minister has informed the US official that a decision on the MCC will be taken by the parliament by February 28. So he has taken a decisive steps," the source said requesting anonymity</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The prime minister has also tried to persuade top leaders within the coalition government to approve the MCC. Discussion is ongoing between Congress President and Prime Minister Deuba, CPN-Maoist Centre Chairman Pushpa Kamal Dahal, and CPN-Unified Socialist Chairman Madhav Kumar Nepal after a dispute arose within the alliance regarding the MCC.</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"">CPN (MC) Chairman Dahal and CPN (US) Chairman Nepal had reached the PM's residence in Baluwatar on Wednesday morning to meet Prime Minister Deuba to discuss the matter. During the meeting, the leaders said that Deuba wanted to pass the MCC without breaking the alliance.</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"">They said that the PM has asked for suggestions to improve the MCC. Speaking at a party function after the meeting, CPN (US) Chairman Madhav Kumar Nepal said, "The PM is working to get the MCC passed by taking the coalition partners into confidence.”</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"">It has been learnt that PM Deuba is likely to seek support from the UML to pass the MCC if the other ruling parties do not agree to endorse the MCC. That is the reason why the CPN-Maoist Center and the CPN Unified Socialist party have become suspicious lately.</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"">NC leaders Purna Bahadur Khadka and Gyanendra Bahadur Karki had reached Khumaltar for a dialogue with CPN (Maoist Centre) Chairman Dahal to bring the ruling coalition to an agreement.</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"">On the other hand, Home Minister Bal Krishna Khand had reached the residence of Madav Nepal at Koteshwor as the envoy of Prime Minister Deuba.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14459', 'image' => '20220203024041_MCC.jpg', 'article_date' => '2022-02-03 14:40:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14715', 'article_category_id' => '1', 'title' => 'Return on Investment of Banks Declining ', 'sub_title' => '', 'summary' => 'February 3: The return on investment of banks is declining compared to their capital. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 3: The return on investment of banks is declining compared to their capital. The rate of return has been declining as banks have been burdened with excessive capital. </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 Nepal Bankers' Association, the average return on capital (return on equity) as of January 2022 in the current Fiscal Year (FY) is 12.51 percent. In the corresponding period of the previous fiscal year, the return on equity of banks was 12.70 percent. Compared to the previous year, the returns of 18 banks have decreased this year while the returns of only nine banks have increased. </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 Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of chairpersons and directors of banks and financial institutions, has also drawn the attention of Nepal Rastra Bank (NRB) saying that the returns of banks are declining and this is discouraging investors. </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 rumor in the market that banks and financial institutions are making huge profits and NRB has also issued directives accordingly," reads a study report submitted by CBFIN to NRB Governor Maha Prasad Adhikari in December. "Even though the capital of banks has increased four folds, the return on investment has been declining." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that the rate of return of banks and financial institutions have been declining continuously since 2073, the report urged the central bank to allow the interest rate to be determined according to the concept of open market instead of limiting the spread rate in order to meet this challenge. </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"">Similarly, the return on investment of banks is also declining. According to CBFIN, the return was 19 percent in 2068 which reached 23 percent in 2073. After that, it decreased to 12 percent in 2077. </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"">Prakash Kumar Shrestha, executive director of the research department of NRB, says that the return on investment of banks and financial institutions is not bad. "The rate of return of banks is declining," he said, "However, it is still higher than the return on bank deposits." </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"">Banker Analraj Bhattarai says that is no need to panic because banks have been set up with long-term investment.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14458', 'image' => '20220203022000_Banks - Copy.jpg', 'article_date' => '2022-02-03 14:19:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14714', 'article_category_id' => '1', 'title' => 'Friendly matches between Nepal and Mauritius Raise Prospects of Business Promotion', 'sub_title' => '', 'summary' => 'February 3: The friendly football matches between Nepal and Mauritius held recently is expected to become a milestone for promoting business and tourism between the two countries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 3: The friendly football matches between Nepal and Mauritius held recently is expected to become a milestone for promoting business and tourism between the two countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the Nepal-Mauritius Business Council expressed such opinion during a dinner reception organized in Kathmandu on February 2 to honour the visiting national football team of Mauritius.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ganesh Karki, the honorary consul of the Republic of Mauritius to Nepal, congratulated the Mauritius National Team for being the first ever African Nation to play a football friendly in Nepalese turf and believes that this will be a stepping stone in developing tourism business.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This event is an important step for future business prospects and investment,” added Karki.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Welcoming the members of Mauritius’ football team, chairman of the council Batu Lamichhane said that the event will help establish a good relationship between the two countries at the people-to-people level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The football match was a good beginning to promote trade and tourism between the two countries,” added Lamichhane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The two friendly football matches between Nepal and Mauritius were organized recently at the initiative of Nepal-Mauritius Business Council. Nepal won both the matches with an identical scoreline of 1-0. Nepal had registered victory in an international friendly at home ground after 10 years.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14457', 'image' => '20220203124623_1643821337.272671406_364821928385574_8807902730253270851_n.jpg', 'article_date' => '2022-02-03 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14713', 'article_category_id' => '1', 'title' => 'Government Fixes Minimum Price of Unprocessed Milk', 'sub_title' => '', 'summary' => 'February 3: The government has fixed the minimum price of unprocessed milk as per the demand of farmers to hike the price of milk.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">February 3: The government has fixed the minimum price of unprocessed milk as per the demand of farmers to hike the price of milk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">A meeting of the Council of Ministers on Monday (January 30) fixed the minimum price of unprocessed milk at Rs 56.4 per litre, according to Government Spokesperson Gyanendra Bahadur Karki. Prior to this, the price of unprocessed milk was Rs 49.52 per litre.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The farmers had been demanding a hike in price of milk since a long time stating that the price of cattle feed and cost of production had gone up.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">However, the farmers’ demand have only been partly addressed by the price adjustment. They had been demanding a hike of at least Rs 15 to Rs 20 per litre in the context that the production cost of a litre of milk has reached Rs 63.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The government increased the price of milk upon the recommendation of a committee formed to adjust the price of milk. A report prepared by the committee had recommended the government to increase the price of milk by Rs 10 per litre.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The report states that the farmers had to bear loss of Rs 4 per litre while selling milk at the rate before the recent adjustment. The report further states that the price of milk needs to be adjusted with time as the price of veterinary medicine, the salary and allowances of the person tending the cattle, transportation cost and the prices of other goods and equipment have shot up. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Although the price of milk used to be adjusted every year in the past, it had not been increased for the past two and half years. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14456', 'image' => '20220203111904_20220121121357_20200423093954_1542865405_16685959.jpg', 'article_date' => '2022-02-03 11:18:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14712', 'article_category_id' => '1', 'title' => 'Aviation, Mountaineering Sectors likely to Suffer Impact of Westerly Wind ', 'sub_title' => 'Rainfall and Snow Predicted for Next Two Days', 'summary' => 'February 3: The Meteorological Forecasting Division has warned that the Westerly wind that entered Nepal from the western part last night is likely to trigger light to moderate thunder showers and snowfall for the next two days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 3: The Meteorological Forecasting Division has warned that the Westerly wind that entered Nepal from the western part last night is likely to trigger light to moderate thunder showers and snowfall for the next two days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This atmospheric condition may have its implications on aviation sector, mountaineering, agriculture, transport and people’s daily life, the division said in a notice. Due to the weather change, cold is likely to rise and the division has urged all to take precautionary measures against it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather remained partly to generally cloudy in Province 1, Bagmati Province, Gandaki Province and Lumbini Province and generally to mostly cloudy in Karnali Province and Sudurpaschim Province and mainly fair in Madesh Province last night. Light rainfall occured at some places of Karnali Province and Sudurpaschim Province while high hills and mountains witnessed snowfall.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On Thursday, the weather will be generally to fully cloudy in Sudurpaschim Province, Karnali Provice, Lumbini Province and Gandaki Province while Bagmati Province, Madhes Province and Province 1 will see partial to generally cloudy condition. There are chances of light snowfall at high-hills and a few places of mountainous regions of Sudurpaschim, Karnali, Lumbini, and Gandaki Provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there is possibility of light snowfall at some places of highlands and mountainaous regions of Bagmati Province and Province 1 while light to moderate thunder showers have been forecast at many places of the hill and Terai regions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be generally to fully cloudy weather across the country on Friday and on Saturday. On Friday, light to moderate snowfall at few places of high-hills and mountainous region is likely to occur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact of the Westerly wind will continue till Saturday and the weather is likely to improve from Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a possibility of light to moderate snowfall in some places in the high hills and mountains on Saturday, too. There are chances of light to moderate rainfall in many parts of the hills and Terai. <em>(With inputs from RSS) </em></span><br /> </span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14455', 'image' => '20220203082655_DB-Simkot-AirUdana.jpg', 'article_date' => '2022-02-03 08:25:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14711', 'article_category_id' => '1', 'title' => 'Nepal, India ink deal for Construction of a Motorable Bridge over Mahakali River ', 'sub_title' => '', 'summary' => 'February 2: Nepal and India have entered into an agreement to construct a motorable bridge over the Mahakali River to connect the two countries.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: Nepal and India have entered into an agreement to construct a motorable bridge over the Mahakali River to connect the two countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge will be constructed in Dharchula district with the grant assistance of the Government of India. The bridge, once completed, will connect Darchula of Nepal with Dharchula of India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A Memorandum of Understanding (MoU) to this effect was signed by the representatives of Nepal and India on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Ambassador to Nepal Vinay Mohan Kwatra and Secretary at the Ministry of Physical Infrastructure and Transport Rabindra Nath Shrestha signed the MoU at the ministry on Tuesday (February 1) in the presence of Minister for Physical Infrastructure and Transport Renu Kumari Yadav. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a statement, the Indian Embassy in Kathmandu said that the construction of the bridge will begin soon.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge would enhance cross-border connectivity between the Sudurpaschim Province of Nepal and Uttarakhand State of India where people-to-people relation exists between communities on both sides of the border, reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Indian Embassy further said that the bridge would also serve the policy to further strengthen commercial and cultural bonds as well as the people-to-people exchanges. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge is being built in line with the priority of both the governments to expand cross-border connectivity for enhancing commercial, cultural and people-to-people ties. </span></span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14454', 'image' => '20220202064201_20210817022722_Fl_600x600.jpg', 'article_date' => '2022-02-02 18:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14710', 'article_category_id' => '1', 'title' => 'Impact of Westerly Wind to Rise from February 3', 'sub_title' => '', 'summary' => 'February 2: The impact of Westerly wind is expected to increase in different parts of the country from tonight (February 2) onward. ', 'content' => '<p><em>Aeroplanes stranded in Humla in this recent photo. Photo Courtesy: RSS</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: The impact of Westerly wind is expected to increase in different parts of the country from tonight (February 2) onward. According to the Department of Hydrology and Meteorology, the prevalence of Westerly wind that is having partial impact in the country’s weather right now is likely to increase its influence from tonight onward. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall is likely to take place in some areas of Province 1, Bagmati Province, Gandaki Province, Madhes Province and Lumbini Province, the department shared. There are high chances of light snowfall in some places of high hills and mountainous range of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has urged all concerned people to adopt necessary safety and precautionary measures to stem the risk emanating from the weather changes. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14453', 'image' => '20220203082523_NabinLamichhane_Manang_RSS_14.jpg', 'article_date' => '2022-02-02 18:28:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14709', 'article_category_id' => '1', 'title' => 'Locals of Melamchi warn of Obstructing Project Work', 'sub_title' => '', 'summary' => 'February 2: The Helambu-Melamchi Flood Victims Concern Committee has stated that they will not allow the Melamchi Water Supply Project to undertake any work until their demands are met.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">February 2: The Helambu-Melamchi Flood Victims Concern Committee has stated that they will not allow the Melamchi Water Supply Project to undertake any work until their demands are met.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee handed over a memorandum with a six-point demand to the project's executive director Basudev Poudel on Tuesday. The committee has warned to stop all of the works of the Melamchi Water Supply Project until the demands of the flood-affected locals are implemented.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President of the Helambu-Melamchi Flood Victims Concern Committee, Bharat Thapa said that the work of the project will be stopped completely from February 3. “We have informed the Melamchi Water Supply Project, the Asian Development Bank, and the Sindhupalchok District Administration Office that the project will be completely shut down from February 3 if the demand of the locals is not met,” Thapa said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that the work of the project will be stopped by holding a public hearing on February 3 at Kiul Bagar in Helambu. Thapa said that the project work has to be stopped because of the negligence and irresponsibility of the concerned bodies working in the affected areas even after nine months of the floods.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee has demanded that the stones, sand, and ballast should be stored in a safe place while cleaning the source of the tunnel, and comply with the agreement reached for long term development. The committee has also demanded that the budget should be provided with necessary equipment for the conservation of remaining settlements and cultivable land in the Melamchi river basin area. Moreover, the committee has also demanded that the Melamchi-Timbu road connecting the source of the river should be upgraded immediately so that it can be operated even during the rainy season and the preparation of a detailed study report for the reconstruction of the lower coastal area and risk reduction from the catchment area of the source of Melamchi river.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Receiving the memorandum along with the demand submitted by the committee, the project's executive director Poudel said that since the headworks of Melamchi Water Supply Project at Ambathan and reconstruction of other physical infrastructure of the project have been initiated, the demand of the locals will be gradually addressed. “We are working systematically. The locals also need to support the project,” he said, adding, “Halting the work alone is not the solution to the problem. We are trying to address the demands of the locals.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee found that the main reason for the massive damage caused by the flood in Melamchi River was a large amount of cement, poles, chemicals, and other construction materials, heavy equipment, raw materials piled up at the project site, and unmanaged dumping in Ambathan.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee has emphasized that the project should focus mainly on protection of livelihood of flood-affected people, systematic rehabilitation of displaced families, relocation and reclamation of land for the livelihood of affected families, protection of farms and personal and public property and reconstruction of damaged roads, irrigation, school buildings, crematoriums, temples, and other public infrastructure. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has entered into an agreement with Chinese company Sino Hydro to reconstruct the project and divert water following the damage caused by flooding of the Melamchi River and landslides on June 15. The Chinese company, which was handed the contract after the government allocated Rs 360 million to repair the project, has already started the work of reconstruction.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14452', 'image' => '20220202062243_20210906103006_20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2022-02-02 18:22:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14708', 'article_category_id' => '1', 'title' => 'Investor Rue ‘Double Taxation’ Policy', 'sub_title' => '', 'summary' => 'February 2: Investors operating companies in Nepal are at the receiving end due to double taxation on profit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 2: Investors operating companies in Nepal say they are at the receiving end due to double taxation on profit.</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"">Especially, investors (institutional and general shareholders) of public companies are hit hardest by the double taxation policy.</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"">Shareholders and investors themselves do not have to pay taxes twice. However, their return from investment is taxed twice. As a result, investors and shareholders have been complaining that they are suffering from double taxation.</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"">Shareholders and investors have long demanded a one-time tax on income. However, the concerned bodies have been ignoring this demand from the very beginning.</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"">Companies first pay an income tax of 25 percent to 30 percent of their profits. Banks and financial institutions, as well as companies that produce hazardous items like cigarettes and alcohol, pay up to 30 percent of their profits as income tax.</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"">Companies of other natures have been paying income tax up to 25 percent. The shareholders have been paying an additional 5 percent tax even after distributing the remaining net profit as dividend. As a result, the shareholders and investors argue that they are affected by double taxation on the same income.</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"">Once a tax has been paid, it should not be subject to taxation again. However, the government has been raising taxes on companies in a way that is not acceptable to them, said one investor.</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 company will make a profit from the investor's investment. And, that profit belongs to the investor,” he said. Accordingly, there is no justification for levying tax when distributing post-tax profits as dividends,” he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investors of banks and financial institutions have been hit even harder, he further 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"">Raju Prasad Pyakurel, information officer of the Inland Revenue Department, argues that this arrangement is right from every point of view.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He says the theoretical side of the economy, international practice, Nepal's law, and practice are also justifiable.</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"">‘First, the tax paid by the company has become the tax paid by the company itself from its income. After that, the shareholders will have to pay tax for the dividend,” he said, adding, “Therefore, this arrangement is justifiable.”</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"">Advocate Jyoti Dahal, a scholar on stocks, also said that the provision was legal and 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 company has paid income tax, and the shareholders have paid profit tax. Therefore, this tax system is one-sided in which the shareholders are not affected by double taxation, says Dahal. “So the shareholders have to accept it naturally,” he opined.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14451', 'image' => '20220202034222_double-taxation-1024x634.jpeg', 'article_date' => '2022-02-02 15:41:30', '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' => '14721', 'article_category_id' => '1', 'title' => 'Arrival of Foreign Tourists up in January', 'sub_title' => '', 'summary' => 'February 4: The number of tourists visiting Nepal in the first month of 2022 has increased by more than 91 percent compared to the corresponding period of 2021.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 4: The number of tourists visiting Nepal in the first month of 2022 has increased by more than 91 percent compared to the corresponding period of 2021.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Tourism Board (NTB) confirmed that the influx of foreign tourists to Nepal has increased by 91.3 percent amid the global COVID-19 pandemic.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The board informed that 16,975 foreigners visited Nepal in January, 2022 against 8,874 during the same period in the previous year. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">All the incoming tourists used air route for the arrival, NTB said unveiling the latest data provided by the Department of Immigration on Thursday. During the review period, 17,984 Nepali citizens left the country for foreign visit. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">NTB Director Maniraj Lamichhane said that the improvement in arrival of foreign tourists amidst the ongoing crisis is a boost to the tourism sector that has been hard-hit by the pandemic.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> “This figure has given a message that foreign tourists have started visiting Nepal. This has also provided enthusiasm to the tourism sector that has been hampered by the virus,” he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The highest number of tourists arriving in Nepal in January is from the SAARC countries –</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">5,505 including 3,916 from neighbouring India and 1,231 from Bangladesh. Other visitors were from Europe, Asia and other countries, NTB said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the board, a total 150,962 foreign tourists had visited Nepal in 2021, while the figure stood at 230,000 in 2020. </span></span></span></p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14465', 'image' => '20220204120838_Tourist.jpg', 'article_date' => '2022-02-04 12:07:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14723', 'article_category_id' => '1', 'title' => 'Government Appoints Karki as CEO of NEPSE ', 'sub_title' => '', 'summary' => 'February 4: The government has appointed Krishna Bahadur Karki as the Chief Executive Officer (CEO) of Nepal Stock Exchange (NEPSE).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 4: The government has appointed Krishna Bahadur Karki as the Chief Executive Officer (CEO) of Nepal Stock Exchange (NEPSE). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the Council of Ministers on January 31 appointed Karki for a four-year term.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The post was lying vacant since August 24 after the resignation of the then CEO Chandra Singh Saud over a row related to the purchase of shares of Sarvottam Cement against the rules.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Saud had reiterated that he did not breach any law but tendered his resignation to facilitate the investigation process.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Altogether 11 aspirants had applied for the post of NEPSE’s CEO after Saud stepped down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Karki, a resident of Palpa, holds a bachelor's degree in economics and public administration. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14464', 'image' => '20220204011238_krishna-bahadur-karki.jpg', 'article_date' => '2022-02-04 13:11:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14720', 'article_category_id' => '1', 'title' => 'Snowfall Impacts Life in Humla ', 'sub_title' => '', 'summary' => 'February 4: Normal life in Humla district has been thrown out of gear due to snowfall that occurred from Thursday morning. ', 'content' => '<p><em>Simikot, the district headquarters of Humla, covered in a blanket of snow in this recent photo. RSS</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 4: Normal life in Humla district has been thrown out of gear due to snowfall that occurred from Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Regular flights have also been disrupted owing to the snowfall. As the flights could not take place, the supply of foodstuff from Nepalgunj and Surkhet has also been affected. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, service delivery from the government and non-governmental organisations has also been impacted by the snowfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Humla is one of the most remote districts of Nepal which heavily relies on air transportation despite newly-built road access to the lower belt of the district. As the district falls in mountainous region, it witnesses heavy rainfall each year. People of the northern belt often migrate to the low lands during winter to avoid excessive cold.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the entire official works of the District Administration Office, Humla, have been suspended after Assistant Chief District Officer Dasharath Rai tested positive for corona virus infection. <em>(With inputs from RSS)</em></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14463', 'image' => '20220204113435_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-02-04 11:33:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14719', 'article_category_id' => '1', 'title' => 'Heavy Snowfall Disrupts Vehicular Movement along Several Highways ', 'sub_title' => '', 'summary' => 'February 4: Heavy snowfall since last night has disrupted vehicular movement along different highways across the country. ', 'content' => '<p><em>A vehicle negotiates its way through thick snow in Baitadi district. Photo: RSS</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 4: Heavy snowfall since last night has disrupted vehicular movement along different highways across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Heavy snowfall taking place at Simbhanjyang and Aghor areas of Tribhuvan Highway has obstructed vehicular movement from 2:00 am this morning (February 4), the state-owned RSS reported citing the Area Police Office, Palung.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The local authorites were facing difficulties clearing the snow as the areas witnessed heavy snowfall coupled with rainfall, Mayor of Thaha Municipality Labsher Bista was quoted as saying by the RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Vehicles heading to Kathmandu from Hetauda have been stranded at Aghor area of Tribhuvan Highway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deputy Superintendent of Police (DSP) at the District Police Office, Makawanpur, Jayashwor Rimal said preparations are on to resume vehicular movement by this afternoon if the weather improves. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the Bhimdutta Highway that connects seven hill districts of Sudurpaschim Province has also been obstructed following heavy snowfall since Thursday night. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Area Police Office at Budar confirmed that the snowfall taking place since last night has disrupted vehicular movement there and efforts are ongoing to clear the snow. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dozens of vehicles and a large number of passengers have been stranded at Gaira and Budar areas in Doti. While Sahukharka, Gaira, Hagulte and the nearby areas are blanketed with snow in the district, RSS further reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Pahalmansingh Swar Highway from Silgadhi of Doti to Sanfe of Achham district has also been obstructed due to snowfall. Vehicles heading to Bajura and Achham districts from the Tarai and to Tarai from the hill districts have been stranded at different points after heavy snowfall in Chaukhutte area. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The snowfall has badly affected people's lives as they are facing difficulty to move outside their homes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khaptad, Goladeu, Napani, Charkekolek, Badikedarthan, Alyadi, Chauribaj, Okharkhali, Mustal and other areas in the region have witnessed heavy snowfall from Thursday, RSS reported. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14462', 'image' => '20220204112309_VijayRawat_Khalanga_RSS_21_IMG_20220204_085454(2).jpg', 'article_date' => '2022-02-04 11:21:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14718', 'article_category_id' => '1', 'title' => 'Government Preparing to Classify Foreign Employment Companies', 'sub_title' => '', 'summary' => 'February 3: The government is preparing to classify the private companies involved in foreign employment business. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 3: The government is preparing to classify the private companies involved in foreign employment business. This is being done to make foreign employment systematic and dignified. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Labor, Employment and Social Security has formed a task force under the coordination of Joint Secretary of the Ministry, Rajiv Pokharel, to prepare the necessary procedures for classifying the foreign employment companies by determining required criteria and standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the task force formed on February 3 includes the chief of the Foreign Employment Office, the executive director of the Foreign Employment Board and representatives of the foreign employment companies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, there are 860 registered foreign employment companies in the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14461', 'image' => '20220203081558_20211215023334_20200315123851_1111.jpg', 'article_date' => '2022-02-03 20:15:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14717', 'article_category_id' => '1', 'title' => 'Special Economic Zone Fails to Achieve Expected Result', 'sub_title' => '', 'summary' => 'February 3: The Special Economic Zone (SEZ) established five years ago in Bhairahawa of Rupandehi district has not been able to achieve the expected result.', '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 3: The Special Economic Zone (SEZ) established five years ago in Bhairahawa of Rupandehi district has not been able to achieve the expected result.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government's objective has not been achieved as the SEZ located in Rohini Municipality-1 Bagaha of the district has not been able to achieve the target of reducing the trade deficit by increasing exports.</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"">Special Economic Zone (SEZ) Bhairahawa informed that among the six industries situated at the SEZ, some have been exporting for four years. However, there are only two industries that export 60 percent of the production.</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"">Brilliant LED, Shakti Mineral, Vistar Company, Panchakanya Udyog, Jaya Buddha, and S Polymer are operating on the SEZ premises with Tirupati Metal all set to come into operation. Of the three industries that have been exporting since 2076 BS, Brilliant LED exported 58 percent of its products, Shakti Mineral 24 percent, and Vistar 100 percent in the fiscal year 2076/77.</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"">Similarly, in the fiscal year 277/78, Brilliant LED exported 24 percent, Shakti 2.5 percent, Vistar 99 percent of their production, while Panchakanya’s exports were limited to just 2 percent, according to the Special Economic Zone (SEZ). </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"">Chandika Bhatta, the executive director of the SEZ, said the state should cut production costs from SEZ industries. Bhatta further said that adding the “threshold” for exports was not effective.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We have not been able to achieve the expected results due to weak policy of the state,” said Bhatta while requesting the government to make the production sector of Nepal industry-friendly and enabling the industries to compete in the internal market by amending the laws.</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 of December of the current fiscal year, Brilliant LED has exported 48 percent of its production, Shakti 12 percent, Vistar 87 percent, and Panchakanya wrapped up at just 1 percent of the production. Currently, Jaya Buddha and S Polymer are also producing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Special Economic Zone was set up to encourage industries to produce goods that are in high demand in foreign countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Initially, the provision was to export 75 percent of the production, but now, it has been reduced to 60 percent.</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 is a provision for the operation of 17 types of industries in the SEZ including the food industry and agro-industry, herbal products, leather goods, readymade garments, carpets and woolen goods, pashmina and silk, handicraft products.</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"">Nira Bhattarai of Bhairahawa Special Economic Zone informed that work is underway to expedite the exports of SEZ from Belahiya, located near the customs office without any delay. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had started the process of land acquisition in Bhairahawa in 2001 to set up an export promotion center. Construction of SEZ started in Bhairahawa in 2008 with the introduction of SEZ Ordinance in 2005.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the SEZ Bill was introduced in Parliament in 2008, the Act authenticated only in 2016. Despite the government's announcement in 2010 to provide income tax, VAT, customs, and other exemptions and facilities to the industries in the SEZ through industrial policy, the industrialists are reluctant to set up industries in the SEZ. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14460', 'image' => '20220203030134_IMG_0054_1487750323.jpg', 'article_date' => '2022-02-03 15:00:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14716', 'article_category_id' => '1', 'title' => 'PM Deuba Takes Initiative to Endorse MCC', 'sub_title' => '', 'summary' => 'February 3: The government has taken decisive steps to ratify the US Millennium Challenge Corporation (MCC) agreement.', '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 3: The government has taken decisive steps to ratify the US Millennium Challenge Corporation (MCC) agreement.</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"">Prime Minister Sher Bahadur Deuba has taken the initiative to move ahead with the US grant agreement. Stating that it is the responsibility of the parliament whether to approve the MCC, he has taken the initiative to move the process forward immediately.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the last one week, there has been intense discussion about MCC within the coalition government led by PM Deuba. But instead of reaching a consensus among the coalition partners, differences over the MCC continue to escalate. The gap has widened due to the stand taken by other parties within the alliance except for the Nepali Congress that the MCC cannot be passed in tis current form without amendment.</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 a source close to Deuba, the prime minister is planning to pass the MCC by the end of February. "The prime minister has informed the US official that a decision on the MCC will be taken by the parliament by February 28. So he has taken a decisive steps," the source said requesting anonymity</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The prime minister has also tried to persuade top leaders within the coalition government to approve the MCC. Discussion is ongoing between Congress President and Prime Minister Deuba, CPN-Maoist Centre Chairman Pushpa Kamal Dahal, and CPN-Unified Socialist Chairman Madhav Kumar Nepal after a dispute arose within the alliance regarding the MCC.</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"">CPN (MC) Chairman Dahal and CPN (US) Chairman Nepal had reached the PM's residence in Baluwatar on Wednesday morning to meet Prime Minister Deuba to discuss the matter. During the meeting, the leaders said that Deuba wanted to pass the MCC without breaking the alliance.</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"">They said that the PM has asked for suggestions to improve the MCC. Speaking at a party function after the meeting, CPN (US) Chairman Madhav Kumar Nepal said, "The PM is working to get the MCC passed by taking the coalition partners into confidence.”</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"">It has been learnt that PM Deuba is likely to seek support from the UML to pass the MCC if the other ruling parties do not agree to endorse the MCC. That is the reason why the CPN-Maoist Center and the CPN Unified Socialist party have become suspicious lately.</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"">NC leaders Purna Bahadur Khadka and Gyanendra Bahadur Karki had reached Khumaltar for a dialogue with CPN (Maoist Centre) Chairman Dahal to bring the ruling coalition to an agreement.</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"">On the other hand, Home Minister Bal Krishna Khand had reached the residence of Madav Nepal at Koteshwor as the envoy of Prime Minister Deuba.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14459', 'image' => '20220203024041_MCC.jpg', 'article_date' => '2022-02-03 14:40:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14715', 'article_category_id' => '1', 'title' => 'Return on Investment of Banks Declining ', 'sub_title' => '', 'summary' => 'February 3: The return on investment of banks is declining compared to their capital. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 3: The return on investment of banks is declining compared to their capital. The rate of return has been declining as banks have been burdened with excessive capital. </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 Nepal Bankers' Association, the average return on capital (return on equity) as of January 2022 in the current Fiscal Year (FY) is 12.51 percent. In the corresponding period of the previous fiscal year, the return on equity of banks was 12.70 percent. Compared to the previous year, the returns of 18 banks have decreased this year while the returns of only nine banks have increased. </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 Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of chairpersons and directors of banks and financial institutions, has also drawn the attention of Nepal Rastra Bank (NRB) saying that the returns of banks are declining and this is discouraging investors. </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 rumor in the market that banks and financial institutions are making huge profits and NRB has also issued directives accordingly," reads a study report submitted by CBFIN to NRB Governor Maha Prasad Adhikari in December. "Even though the capital of banks has increased four folds, the return on investment has been declining." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that the rate of return of banks and financial institutions have been declining continuously since 2073, the report urged the central bank to allow the interest rate to be determined according to the concept of open market instead of limiting the spread rate in order to meet this challenge. </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"">Similarly, the return on investment of banks is also declining. According to CBFIN, the return was 19 percent in 2068 which reached 23 percent in 2073. After that, it decreased to 12 percent in 2077. </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"">Prakash Kumar Shrestha, executive director of the research department of NRB, says that the return on investment of banks and financial institutions is not bad. "The rate of return of banks is declining," he said, "However, it is still higher than the return on bank deposits." </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"">Banker Analraj Bhattarai says that is no need to panic because banks have been set up with long-term investment.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14458', 'image' => '20220203022000_Banks - Copy.jpg', 'article_date' => '2022-02-03 14:19:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14714', 'article_category_id' => '1', 'title' => 'Friendly matches between Nepal and Mauritius Raise Prospects of Business Promotion', 'sub_title' => '', 'summary' => 'February 3: The friendly football matches between Nepal and Mauritius held recently is expected to become a milestone for promoting business and tourism between the two countries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 3: The friendly football matches between Nepal and Mauritius held recently is expected to become a milestone for promoting business and tourism between the two countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the Nepal-Mauritius Business Council expressed such opinion during a dinner reception organized in Kathmandu on February 2 to honour the visiting national football team of Mauritius.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ganesh Karki, the honorary consul of the Republic of Mauritius to Nepal, congratulated the Mauritius National Team for being the first ever African Nation to play a football friendly in Nepalese turf and believes that this will be a stepping stone in developing tourism business.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This event is an important step for future business prospects and investment,” added Karki.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Welcoming the members of Mauritius’ football team, chairman of the council Batu Lamichhane said that the event will help establish a good relationship between the two countries at the people-to-people level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The football match was a good beginning to promote trade and tourism between the two countries,” added Lamichhane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The two friendly football matches between Nepal and Mauritius were organized recently at the initiative of Nepal-Mauritius Business Council. Nepal won both the matches with an identical scoreline of 1-0. Nepal had registered victory in an international friendly at home ground after 10 years.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14457', 'image' => '20220203124623_1643821337.272671406_364821928385574_8807902730253270851_n.jpg', 'article_date' => '2022-02-03 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14713', 'article_category_id' => '1', 'title' => 'Government Fixes Minimum Price of Unprocessed Milk', 'sub_title' => '', 'summary' => 'February 3: The government has fixed the minimum price of unprocessed milk as per the demand of farmers to hike the price of milk.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">February 3: The government has fixed the minimum price of unprocessed milk as per the demand of farmers to hike the price of milk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">A meeting of the Council of Ministers on Monday (January 30) fixed the minimum price of unprocessed milk at Rs 56.4 per litre, according to Government Spokesperson Gyanendra Bahadur Karki. Prior to this, the price of unprocessed milk was Rs 49.52 per litre.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The farmers had been demanding a hike in price of milk since a long time stating that the price of cattle feed and cost of production had gone up.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">However, the farmers’ demand have only been partly addressed by the price adjustment. They had been demanding a hike of at least Rs 15 to Rs 20 per litre in the context that the production cost of a litre of milk has reached Rs 63.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The government increased the price of milk upon the recommendation of a committee formed to adjust the price of milk. A report prepared by the committee had recommended the government to increase the price of milk by Rs 10 per litre.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The report states that the farmers had to bear loss of Rs 4 per litre while selling milk at the rate before the recent adjustment. The report further states that the price of milk needs to be adjusted with time as the price of veterinary medicine, the salary and allowances of the person tending the cattle, transportation cost and the prices of other goods and equipment have shot up. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Although the price of milk used to be adjusted every year in the past, it had not been increased for the past two and half years. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14456', 'image' => '20220203111904_20220121121357_20200423093954_1542865405_16685959.jpg', 'article_date' => '2022-02-03 11:18:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14712', 'article_category_id' => '1', 'title' => 'Aviation, Mountaineering Sectors likely to Suffer Impact of Westerly Wind ', 'sub_title' => 'Rainfall and Snow Predicted for Next Two Days', 'summary' => 'February 3: The Meteorological Forecasting Division has warned that the Westerly wind that entered Nepal from the western part last night is likely to trigger light to moderate thunder showers and snowfall for the next two days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 3: The Meteorological Forecasting Division has warned that the Westerly wind that entered Nepal from the western part last night is likely to trigger light to moderate thunder showers and snowfall for the next two days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This atmospheric condition may have its implications on aviation sector, mountaineering, agriculture, transport and people’s daily life, the division said in a notice. Due to the weather change, cold is likely to rise and the division has urged all to take precautionary measures against it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather remained partly to generally cloudy in Province 1, Bagmati Province, Gandaki Province and Lumbini Province and generally to mostly cloudy in Karnali Province and Sudurpaschim Province and mainly fair in Madesh Province last night. Light rainfall occured at some places of Karnali Province and Sudurpaschim Province while high hills and mountains witnessed snowfall.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On Thursday, the weather will be generally to fully cloudy in Sudurpaschim Province, Karnali Provice, Lumbini Province and Gandaki Province while Bagmati Province, Madhes Province and Province 1 will see partial to generally cloudy condition. There are chances of light snowfall at high-hills and a few places of mountainous regions of Sudurpaschim, Karnali, Lumbini, and Gandaki Provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there is possibility of light snowfall at some places of highlands and mountainaous regions of Bagmati Province and Province 1 while light to moderate thunder showers have been forecast at many places of the hill and Terai regions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be generally to fully cloudy weather across the country on Friday and on Saturday. On Friday, light to moderate snowfall at few places of high-hills and mountainous region is likely to occur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact of the Westerly wind will continue till Saturday and the weather is likely to improve from Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a possibility of light to moderate snowfall in some places in the high hills and mountains on Saturday, too. There are chances of light to moderate rainfall in many parts of the hills and Terai. <em>(With inputs from RSS) </em></span><br /> </span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14455', 'image' => '20220203082655_DB-Simkot-AirUdana.jpg', 'article_date' => '2022-02-03 08:25:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14711', 'article_category_id' => '1', 'title' => 'Nepal, India ink deal for Construction of a Motorable Bridge over Mahakali River ', 'sub_title' => '', 'summary' => 'February 2: Nepal and India have entered into an agreement to construct a motorable bridge over the Mahakali River to connect the two countries.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: Nepal and India have entered into an agreement to construct a motorable bridge over the Mahakali River to connect the two countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge will be constructed in Dharchula district with the grant assistance of the Government of India. The bridge, once completed, will connect Darchula of Nepal with Dharchula of India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A Memorandum of Understanding (MoU) to this effect was signed by the representatives of Nepal and India on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Ambassador to Nepal Vinay Mohan Kwatra and Secretary at the Ministry of Physical Infrastructure and Transport Rabindra Nath Shrestha signed the MoU at the ministry on Tuesday (February 1) in the presence of Minister for Physical Infrastructure and Transport Renu Kumari Yadav. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a statement, the Indian Embassy in Kathmandu said that the construction of the bridge will begin soon.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge would enhance cross-border connectivity between the Sudurpaschim Province of Nepal and Uttarakhand State of India where people-to-people relation exists between communities on both sides of the border, reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Indian Embassy further said that the bridge would also serve the policy to further strengthen commercial and cultural bonds as well as the people-to-people exchanges. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge is being built in line with the priority of both the governments to expand cross-border connectivity for enhancing commercial, cultural and people-to-people ties. </span></span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14454', 'image' => '20220202064201_20210817022722_Fl_600x600.jpg', 'article_date' => '2022-02-02 18:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14710', 'article_category_id' => '1', 'title' => 'Impact of Westerly Wind to Rise from February 3', 'sub_title' => '', 'summary' => 'February 2: The impact of Westerly wind is expected to increase in different parts of the country from tonight (February 2) onward. ', 'content' => '<p><em>Aeroplanes stranded in Humla in this recent photo. Photo Courtesy: RSS</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: The impact of Westerly wind is expected to increase in different parts of the country from tonight (February 2) onward. According to the Department of Hydrology and Meteorology, the prevalence of Westerly wind that is having partial impact in the country’s weather right now is likely to increase its influence from tonight onward. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall is likely to take place in some areas of Province 1, Bagmati Province, Gandaki Province, Madhes Province and Lumbini Province, the department shared. There are high chances of light snowfall in some places of high hills and mountainous range of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has urged all concerned people to adopt necessary safety and precautionary measures to stem the risk emanating from the weather changes. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14453', 'image' => '20220203082523_NabinLamichhane_Manang_RSS_14.jpg', 'article_date' => '2022-02-02 18:28:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14709', 'article_category_id' => '1', 'title' => 'Locals of Melamchi warn of Obstructing Project Work', 'sub_title' => '', 'summary' => 'February 2: The Helambu-Melamchi Flood Victims Concern Committee has stated that they will not allow the Melamchi Water Supply Project to undertake any work until their demands are met.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">February 2: The Helambu-Melamchi Flood Victims Concern Committee has stated that they will not allow the Melamchi Water Supply Project to undertake any work until their demands are met.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee handed over a memorandum with a six-point demand to the project's executive director Basudev Poudel on Tuesday. The committee has warned to stop all of the works of the Melamchi Water Supply Project until the demands of the flood-affected locals are implemented.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President of the Helambu-Melamchi Flood Victims Concern Committee, Bharat Thapa said that the work of the project will be stopped completely from February 3. “We have informed the Melamchi Water Supply Project, the Asian Development Bank, and the Sindhupalchok District Administration Office that the project will be completely shut down from February 3 if the demand of the locals is not met,” Thapa said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that the work of the project will be stopped by holding a public hearing on February 3 at Kiul Bagar in Helambu. Thapa said that the project work has to be stopped because of the negligence and irresponsibility of the concerned bodies working in the affected areas even after nine months of the floods.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee has demanded that the stones, sand, and ballast should be stored in a safe place while cleaning the source of the tunnel, and comply with the agreement reached for long term development. The committee has also demanded that the budget should be provided with necessary equipment for the conservation of remaining settlements and cultivable land in the Melamchi river basin area. Moreover, the committee has also demanded that the Melamchi-Timbu road connecting the source of the river should be upgraded immediately so that it can be operated even during the rainy season and the preparation of a detailed study report for the reconstruction of the lower coastal area and risk reduction from the catchment area of the source of Melamchi river.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Receiving the memorandum along with the demand submitted by the committee, the project's executive director Poudel said that since the headworks of Melamchi Water Supply Project at Ambathan and reconstruction of other physical infrastructure of the project have been initiated, the demand of the locals will be gradually addressed. “We are working systematically. The locals also need to support the project,” he said, adding, “Halting the work alone is not the solution to the problem. We are trying to address the demands of the locals.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee found that the main reason for the massive damage caused by the flood in Melamchi River was a large amount of cement, poles, chemicals, and other construction materials, heavy equipment, raw materials piled up at the project site, and unmanaged dumping in Ambathan.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee has emphasized that the project should focus mainly on protection of livelihood of flood-affected people, systematic rehabilitation of displaced families, relocation and reclamation of land for the livelihood of affected families, protection of farms and personal and public property and reconstruction of damaged roads, irrigation, school buildings, crematoriums, temples, and other public infrastructure. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has entered into an agreement with Chinese company Sino Hydro to reconstruct the project and divert water following the damage caused by flooding of the Melamchi River and landslides on June 15. The Chinese company, which was handed the contract after the government allocated Rs 360 million to repair the project, has already started the work of reconstruction.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14452', 'image' => '20220202062243_20210906103006_20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2022-02-02 18:22:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14708', 'article_category_id' => '1', 'title' => 'Investor Rue ‘Double Taxation’ Policy', 'sub_title' => '', 'summary' => 'February 2: Investors operating companies in Nepal are at the receiving end due to double taxation on profit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 2: Investors operating companies in Nepal say they are at the receiving end due to double taxation on profit.</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"">Especially, investors (institutional and general shareholders) of public companies are hit hardest by the double taxation policy.</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"">Shareholders and investors themselves do not have to pay taxes twice. However, their return from investment is taxed twice. As a result, investors and shareholders have been complaining that they are suffering from double taxation.</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"">Shareholders and investors have long demanded a one-time tax on income. However, the concerned bodies have been ignoring this demand from the very beginning.</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"">Companies first pay an income tax of 25 percent to 30 percent of their profits. Banks and financial institutions, as well as companies that produce hazardous items like cigarettes and alcohol, pay up to 30 percent of their profits as income tax.</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"">Companies of other natures have been paying income tax up to 25 percent. The shareholders have been paying an additional 5 percent tax even after distributing the remaining net profit as dividend. As a result, the shareholders and investors argue that they are affected by double taxation on the same income.</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"">Once a tax has been paid, it should not be subject to taxation again. However, the government has been raising taxes on companies in a way that is not acceptable to them, said one investor.</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 company will make a profit from the investor's investment. And, that profit belongs to the investor,” he said. Accordingly, there is no justification for levying tax when distributing post-tax profits as dividends,” he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investors of banks and financial institutions have been hit even harder, he further 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"">Raju Prasad Pyakurel, information officer of the Inland Revenue Department, argues that this arrangement is right from every point of view.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He says the theoretical side of the economy, international practice, Nepal's law, and practice are also justifiable.</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"">‘First, the tax paid by the company has become the tax paid by the company itself from its income. After that, the shareholders will have to pay tax for the dividend,” he said, adding, “Therefore, this arrangement is justifiable.”</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"">Advocate Jyoti Dahal, a scholar on stocks, also said that the provision was legal and 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 company has paid income tax, and the shareholders have paid profit tax. Therefore, this tax system is one-sided in which the shareholders are not affected by double taxation, says Dahal. “So the shareholders have to accept it naturally,” he opined.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14451', 'image' => '20220202034222_double-taxation-1024x634.jpeg', 'article_date' => '2022-02-02 15:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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During the review period, 17,984 Nepali citizens left the country for foreign visit. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">NTB Director Maniraj Lamichhane said that the improvement in arrival of foreign tourists amidst the ongoing crisis is a boost to the tourism sector that has been hard-hit by the pandemic.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""> “This figure has given a message that foreign tourists have started visiting Nepal. This has also provided enthusiasm to the tourism sector that has been hampered by the virus,” he said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The highest number of tourists arriving in Nepal in January is from the SAARC countries –</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">5,505 including 3,916 from neighbouring India and 1,231 from Bangladesh. Other visitors were from Europe, Asia and other countries, NTB said. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the board, a total 150,962 foreign tourists had visited Nepal in 2021, while the figure stood at 230,000 in 2020. </span></span></span></p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14465', 'image' => '20220204120838_Tourist.jpg', 'article_date' => '2022-02-04 12:07:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14723', 'article_category_id' => '1', 'title' => 'Government Appoints Karki as CEO of NEPSE ', 'sub_title' => '', 'summary' => 'February 4: The government has appointed Krishna Bahadur Karki as the Chief Executive Officer (CEO) of Nepal Stock Exchange (NEPSE).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 4: The government has appointed Krishna Bahadur Karki as the Chief Executive Officer (CEO) of Nepal Stock Exchange (NEPSE). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A meeting of the Council of Ministers on January 31 appointed Karki for a four-year term.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The post was lying vacant since August 24 after the resignation of the then CEO Chandra Singh Saud over a row related to the purchase of shares of Sarvottam Cement against the rules.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Saud had reiterated that he did not breach any law but tendered his resignation to facilitate the investigation process.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Altogether 11 aspirants had applied for the post of NEPSE’s CEO after Saud stepped down.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Karki, a resident of Palpa, holds a bachelor's degree in economics and public administration. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14464', 'image' => '20220204011238_krishna-bahadur-karki.jpg', 'article_date' => '2022-02-04 13:11:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14720', 'article_category_id' => '1', 'title' => 'Snowfall Impacts Life in Humla ', 'sub_title' => '', 'summary' => 'February 4: Normal life in Humla district has been thrown out of gear due to snowfall that occurred from Thursday morning. ', 'content' => '<p><em>Simikot, the district headquarters of Humla, covered in a blanket of snow in this recent photo. RSS</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 4: Normal life in Humla district has been thrown out of gear due to snowfall that occurred from Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Regular flights have also been disrupted owing to the snowfall. As the flights could not take place, the supply of foodstuff from Nepalgunj and Surkhet has also been affected. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, service delivery from the government and non-governmental organisations has also been impacted by the snowfall. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Humla is one of the most remote districts of Nepal which heavily relies on air transportation despite newly-built road access to the lower belt of the district. As the district falls in mountainous region, it witnesses heavy rainfall each year. People of the northern belt often migrate to the low lands during winter to avoid excessive cold.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the entire official works of the District Administration Office, Humla, have been suspended after Assistant Chief District Officer Dasharath Rai tested positive for corona virus infection. <em>(With inputs from RSS)</em></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14463', 'image' => '20220204113435_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-02-04 11:33:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14719', 'article_category_id' => '1', 'title' => 'Heavy Snowfall Disrupts Vehicular Movement along Several Highways ', 'sub_title' => '', 'summary' => 'February 4: Heavy snowfall since last night has disrupted vehicular movement along different highways across the country. ', 'content' => '<p><em>A vehicle negotiates its way through thick snow in Baitadi district. Photo: RSS</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 4: Heavy snowfall since last night has disrupted vehicular movement along different highways across the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Heavy snowfall taking place at Simbhanjyang and Aghor areas of Tribhuvan Highway has obstructed vehicular movement from 2:00 am this morning (February 4), the state-owned RSS reported citing the Area Police Office, Palung.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The local authorites were facing difficulties clearing the snow as the areas witnessed heavy snowfall coupled with rainfall, Mayor of Thaha Municipality Labsher Bista was quoted as saying by the RSS.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Vehicles heading to Kathmandu from Hetauda have been stranded at Aghor area of Tribhuvan Highway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deputy Superintendent of Police (DSP) at the District Police Office, Makawanpur, Jayashwor Rimal said preparations are on to resume vehicular movement by this afternoon if the weather improves. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the Bhimdutta Highway that connects seven hill districts of Sudurpaschim Province has also been obstructed following heavy snowfall since Thursday night. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Area Police Office at Budar confirmed that the snowfall taking place since last night has disrupted vehicular movement there and efforts are ongoing to clear the snow. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dozens of vehicles and a large number of passengers have been stranded at Gaira and Budar areas in Doti. While Sahukharka, Gaira, Hagulte and the nearby areas are blanketed with snow in the district, RSS further reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Pahalmansingh Swar Highway from Silgadhi of Doti to Sanfe of Achham district has also been obstructed due to snowfall. Vehicles heading to Bajura and Achham districts from the Tarai and to Tarai from the hill districts have been stranded at different points after heavy snowfall in Chaukhutte area. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The snowfall has badly affected people's lives as they are facing difficulty to move outside their homes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Khaptad, Goladeu, Napani, Charkekolek, Badikedarthan, Alyadi, Chauribaj, Okharkhali, Mustal and other areas in the region have witnessed heavy snowfall from Thursday, RSS reported. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-04', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14462', 'image' => '20220204112309_VijayRawat_Khalanga_RSS_21_IMG_20220204_085454(2).jpg', 'article_date' => '2022-02-04 11:21:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14718', 'article_category_id' => '1', 'title' => 'Government Preparing to Classify Foreign Employment Companies', 'sub_title' => '', 'summary' => 'February 3: The government is preparing to classify the private companies involved in foreign employment business. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 3: The government is preparing to classify the private companies involved in foreign employment business. This is being done to make foreign employment systematic and dignified. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Labor, Employment and Social Security has formed a task force under the coordination of Joint Secretary of the Ministry, Rajiv Pokharel, to prepare the necessary procedures for classifying the foreign employment companies by determining required criteria and standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the task force formed on February 3 includes the chief of the Foreign Employment Office, the executive director of the Foreign Employment Board and representatives of the foreign employment companies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At present, there are 860 registered foreign employment companies in the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14461', 'image' => '20220203081558_20211215023334_20200315123851_1111.jpg', 'article_date' => '2022-02-03 20:15:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14717', 'article_category_id' => '1', 'title' => 'Special Economic Zone Fails to Achieve Expected Result', 'sub_title' => '', 'summary' => 'February 3: The Special Economic Zone (SEZ) established five years ago in Bhairahawa of Rupandehi district has not been able to achieve the expected result.', '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 3: The Special Economic Zone (SEZ) established five years ago in Bhairahawa of Rupandehi district has not been able to achieve the expected result.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government's objective has not been achieved as the SEZ located in Rohini Municipality-1 Bagaha of the district has not been able to achieve the target of reducing the trade deficit by increasing exports.</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"">Special Economic Zone (SEZ) Bhairahawa informed that among the six industries situated at the SEZ, some have been exporting for four years. However, there are only two industries that export 60 percent of the production.</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"">Brilliant LED, Shakti Mineral, Vistar Company, Panchakanya Udyog, Jaya Buddha, and S Polymer are operating on the SEZ premises with Tirupati Metal all set to come into operation. Of the three industries that have been exporting since 2076 BS, Brilliant LED exported 58 percent of its products, Shakti Mineral 24 percent, and Vistar 100 percent in the fiscal year 2076/77.</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"">Similarly, in the fiscal year 277/78, Brilliant LED exported 24 percent, Shakti 2.5 percent, Vistar 99 percent of their production, while Panchakanya’s exports were limited to just 2 percent, according to the Special Economic Zone (SEZ). </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"">Chandika Bhatta, the executive director of the SEZ, said the state should cut production costs from SEZ industries. Bhatta further said that adding the “threshold” for exports was not effective.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“We have not been able to achieve the expected results due to weak policy of the state,” said Bhatta while requesting the government to make the production sector of Nepal industry-friendly and enabling the industries to compete in the internal market by amending the laws.</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 of December of the current fiscal year, Brilliant LED has exported 48 percent of its production, Shakti 12 percent, Vistar 87 percent, and Panchakanya wrapped up at just 1 percent of the production. Currently, Jaya Buddha and S Polymer are also producing. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Special Economic Zone was set up to encourage industries to produce goods that are in high demand in foreign countries.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Initially, the provision was to export 75 percent of the production, but now, it has been reduced to 60 percent.</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 is a provision for the operation of 17 types of industries in the SEZ including the food industry and agro-industry, herbal products, leather goods, readymade garments, carpets and woolen goods, pashmina and silk, handicraft products.</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"">Nira Bhattarai of Bhairahawa Special Economic Zone informed that work is underway to expedite the exports of SEZ from Belahiya, located near the customs office without any delay. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had started the process of land acquisition in Bhairahawa in 2001 to set up an export promotion center. Construction of SEZ started in Bhairahawa in 2008 with the introduction of SEZ Ordinance in 2005.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although the SEZ Bill was introduced in Parliament in 2008, the Act authenticated only in 2016. Despite the government's announcement in 2010 to provide income tax, VAT, customs, and other exemptions and facilities to the industries in the SEZ through industrial policy, the industrialists are reluctant to set up industries in the SEZ. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14460', 'image' => '20220203030134_IMG_0054_1487750323.jpg', 'article_date' => '2022-02-03 15:00:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14716', 'article_category_id' => '1', 'title' => 'PM Deuba Takes Initiative to Endorse MCC', 'sub_title' => '', 'summary' => 'February 3: The government has taken decisive steps to ratify the US Millennium Challenge Corporation (MCC) agreement.', '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 3: The government has taken decisive steps to ratify the US Millennium Challenge Corporation (MCC) agreement.</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"">Prime Minister Sher Bahadur Deuba has taken the initiative to move ahead with the US grant agreement. Stating that it is the responsibility of the parliament whether to approve the MCC, he has taken the initiative to move the process forward immediately.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the last one week, there has been intense discussion about MCC within the coalition government led by PM Deuba. But instead of reaching a consensus among the coalition partners, differences over the MCC continue to escalate. The gap has widened due to the stand taken by other parties within the alliance except for the Nepali Congress that the MCC cannot be passed in tis current form without amendment.</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 a source close to Deuba, the prime minister is planning to pass the MCC by the end of February. "The prime minister has informed the US official that a decision on the MCC will be taken by the parliament by February 28. So he has taken a decisive steps," the source said requesting anonymity</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The prime minister has also tried to persuade top leaders within the coalition government to approve the MCC. Discussion is ongoing between Congress President and Prime Minister Deuba, CPN-Maoist Centre Chairman Pushpa Kamal Dahal, and CPN-Unified Socialist Chairman Madhav Kumar Nepal after a dispute arose within the alliance regarding the MCC.</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"">CPN (MC) Chairman Dahal and CPN (US) Chairman Nepal had reached the PM's residence in Baluwatar on Wednesday morning to meet Prime Minister Deuba to discuss the matter. During the meeting, the leaders said that Deuba wanted to pass the MCC without breaking the alliance.</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"">They said that the PM has asked for suggestions to improve the MCC. Speaking at a party function after the meeting, CPN (US) Chairman Madhav Kumar Nepal said, "The PM is working to get the MCC passed by taking the coalition partners into confidence.”</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"">It has been learnt that PM Deuba is likely to seek support from the UML to pass the MCC if the other ruling parties do not agree to endorse the MCC. That is the reason why the CPN-Maoist Center and the CPN Unified Socialist party have become suspicious lately.</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"">NC leaders Purna Bahadur Khadka and Gyanendra Bahadur Karki had reached Khumaltar for a dialogue with CPN (Maoist Centre) Chairman Dahal to bring the ruling coalition to an agreement.</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"">On the other hand, Home Minister Bal Krishna Khand had reached the residence of Madav Nepal at Koteshwor as the envoy of Prime Minister Deuba.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14459', 'image' => '20220203024041_MCC.jpg', 'article_date' => '2022-02-03 14:40:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14715', 'article_category_id' => '1', 'title' => 'Return on Investment of Banks Declining ', 'sub_title' => '', 'summary' => 'February 3: The return on investment of banks is declining compared to their capital. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 3: The return on investment of banks is declining compared to their capital. The rate of return has been declining as banks have been burdened with excessive capital. </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 Nepal Bankers' Association, the average return on capital (return on equity) as of January 2022 in the current Fiscal Year (FY) is 12.51 percent. In the corresponding period of the previous fiscal year, the return on equity of banks was 12.70 percent. Compared to the previous year, the returns of 18 banks have decreased this year while the returns of only nine banks have increased. </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 Banks and Financial Institutions Nepal (CBFIN), an umbrella organisation of chairpersons and directors of banks and financial institutions, has also drawn the attention of Nepal Rastra Bank (NRB) saying that the returns of banks are declining and this is discouraging investors. </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 rumor in the market that banks and financial institutions are making huge profits and NRB has also issued directives accordingly," reads a study report submitted by CBFIN to NRB Governor Maha Prasad Adhikari in December. "Even though the capital of banks has increased four folds, the return on investment has been declining." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Stating that the rate of return of banks and financial institutions have been declining continuously since 2073, the report urged the central bank to allow the interest rate to be determined according to the concept of open market instead of limiting the spread rate in order to meet this challenge. </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"">Similarly, the return on investment of banks is also declining. According to CBFIN, the return was 19 percent in 2068 which reached 23 percent in 2073. After that, it decreased to 12 percent in 2077. </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"">Prakash Kumar Shrestha, executive director of the research department of NRB, says that the return on investment of banks and financial institutions is not bad. "The rate of return of banks is declining," he said, "However, it is still higher than the return on bank deposits." </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"">Banker Analraj Bhattarai says that is no need to panic because banks have been set up with long-term investment.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-04', 'keywords' => '', 'description' => '', 'sortorder' => '14458', 'image' => '20220203022000_Banks - Copy.jpg', 'article_date' => '2022-02-03 14:19:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14714', 'article_category_id' => '1', 'title' => 'Friendly matches between Nepal and Mauritius Raise Prospects of Business Promotion', 'sub_title' => '', 'summary' => 'February 3: The friendly football matches between Nepal and Mauritius held recently is expected to become a milestone for promoting business and tourism between the two countries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 3: The friendly football matches between Nepal and Mauritius held recently is expected to become a milestone for promoting business and tourism between the two countries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the Nepal-Mauritius Business Council expressed such opinion during a dinner reception organized in Kathmandu on February 2 to honour the visiting national football team of Mauritius.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ganesh Karki, the honorary consul of the Republic of Mauritius to Nepal, congratulated the Mauritius National Team for being the first ever African Nation to play a football friendly in Nepalese turf and believes that this will be a stepping stone in developing tourism business.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This event is an important step for future business prospects and investment,” added Karki.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Welcoming the members of Mauritius’ football team, chairman of the council Batu Lamichhane said that the event will help establish a good relationship between the two countries at the people-to-people level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The football match was a good beginning to promote trade and tourism between the two countries,” added Lamichhane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The two friendly football matches between Nepal and Mauritius were organized recently at the initiative of Nepal-Mauritius Business Council. Nepal won both the matches with an identical scoreline of 1-0. Nepal had registered victory in an international friendly at home ground after 10 years.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14457', 'image' => '20220203124623_1643821337.272671406_364821928385574_8807902730253270851_n.jpg', 'article_date' => '2022-02-03 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14713', 'article_category_id' => '1', 'title' => 'Government Fixes Minimum Price of Unprocessed Milk', 'sub_title' => '', 'summary' => 'February 3: The government has fixed the minimum price of unprocessed milk as per the demand of farmers to hike the price of milk.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">February 3: The government has fixed the minimum price of unprocessed milk as per the demand of farmers to hike the price of milk.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">A meeting of the Council of Ministers on Monday (January 30) fixed the minimum price of unprocessed milk at Rs 56.4 per litre, according to Government Spokesperson Gyanendra Bahadur Karki. Prior to this, the price of unprocessed milk was Rs 49.52 per litre.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The farmers had been demanding a hike in price of milk since a long time stating that the price of cattle feed and cost of production had gone up.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">However, the farmers’ demand have only been partly addressed by the price adjustment. They had been demanding a hike of at least Rs 15 to Rs 20 per litre in the context that the production cost of a litre of milk has reached Rs 63.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The government increased the price of milk upon the recommendation of a committee formed to adjust the price of milk. A report prepared by the committee had recommended the government to increase the price of milk by Rs 10 per litre.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">The report states that the farmers had to bear loss of Rs 4 per litre while selling milk at the rate before the recent adjustment. The report further states that the price of milk needs to be adjusted with time as the price of veterinary medicine, the salary and allowances of the person tending the cattle, transportation cost and the prices of other goods and equipment have shot up. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.5pt"><span style="font-family:"arial sans-serif","serif"">Although the price of milk used to be adjusted every year in the past, it had not been increased for the past two and half years. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14456', 'image' => '20220203111904_20220121121357_20200423093954_1542865405_16685959.jpg', 'article_date' => '2022-02-03 11:18:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14712', 'article_category_id' => '1', 'title' => 'Aviation, Mountaineering Sectors likely to Suffer Impact of Westerly Wind ', 'sub_title' => 'Rainfall and Snow Predicted for Next Two Days', 'summary' => 'February 3: The Meteorological Forecasting Division has warned that the Westerly wind that entered Nepal from the western part last night is likely to trigger light to moderate thunder showers and snowfall for the next two days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 3: The Meteorological Forecasting Division has warned that the Westerly wind that entered Nepal from the western part last night is likely to trigger light to moderate thunder showers and snowfall for the next two days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This atmospheric condition may have its implications on aviation sector, mountaineering, agriculture, transport and people’s daily life, the division said in a notice. Due to the weather change, cold is likely to rise and the division has urged all to take precautionary measures against it. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather remained partly to generally cloudy in Province 1, Bagmati Province, Gandaki Province and Lumbini Province and generally to mostly cloudy in Karnali Province and Sudurpaschim Province and mainly fair in Madesh Province last night. Light rainfall occured at some places of Karnali Province and Sudurpaschim Province while high hills and mountains witnessed snowfall.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">On Thursday, the weather will be generally to fully cloudy in Sudurpaschim Province, Karnali Provice, Lumbini Province and Gandaki Province while Bagmati Province, Madhes Province and Province 1 will see partial to generally cloudy condition. There are chances of light snowfall at high-hills and a few places of mountainous regions of Sudurpaschim, Karnali, Lumbini, and Gandaki Provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there is possibility of light snowfall at some places of highlands and mountainaous regions of Bagmati Province and Province 1 while light to moderate thunder showers have been forecast at many places of the hill and Terai regions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There will be generally to fully cloudy weather across the country on Friday and on Saturday. On Friday, light to moderate snowfall at few places of high-hills and mountainous region is likely to occur. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact of the Westerly wind will continue till Saturday and the weather is likely to improve from Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is a possibility of light to moderate snowfall in some places in the high hills and mountains on Saturday, too. There are chances of light to moderate rainfall in many parts of the hills and Terai. <em>(With inputs from RSS) </em></span><br /> </span></span></p> ', 'published' => true, 'created' => '2022-02-03', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14455', 'image' => '20220203082655_DB-Simkot-AirUdana.jpg', 'article_date' => '2022-02-03 08:25:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14711', 'article_category_id' => '1', 'title' => 'Nepal, India ink deal for Construction of a Motorable Bridge over Mahakali River ', 'sub_title' => '', 'summary' => 'February 2: Nepal and India have entered into an agreement to construct a motorable bridge over the Mahakali River to connect the two countries.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: Nepal and India have entered into an agreement to construct a motorable bridge over the Mahakali River to connect the two countries. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge will be constructed in Dharchula district with the grant assistance of the Government of India. The bridge, once completed, will connect Darchula of Nepal with Dharchula of India. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">A Memorandum of Understanding (MoU) to this effect was signed by the representatives of Nepal and India on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Ambassador to Nepal Vinay Mohan Kwatra and Secretary at the Ministry of Physical Infrastructure and Transport Rabindra Nath Shrestha signed the MoU at the ministry on Tuesday (February 1) in the presence of Minister for Physical Infrastructure and Transport Renu Kumari Yadav. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a statement, the Indian Embassy in Kathmandu said that the construction of the bridge will begin soon.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge would enhance cross-border connectivity between the Sudurpaschim Province of Nepal and Uttarakhand State of India where people-to-people relation exists between communities on both sides of the border, reads the statement. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Indian Embassy further said that the bridge would also serve the policy to further strengthen commercial and cultural bonds as well as the people-to-people exchanges. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bridge is being built in line with the priority of both the governments to expand cross-border connectivity for enhancing commercial, cultural and people-to-people ties. </span></span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14454', 'image' => '20220202064201_20210817022722_Fl_600x600.jpg', 'article_date' => '2022-02-02 18:41:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14710', 'article_category_id' => '1', 'title' => 'Impact of Westerly Wind to Rise from February 3', 'sub_title' => '', 'summary' => 'February 2: The impact of Westerly wind is expected to increase in different parts of the country from tonight (February 2) onward. ', 'content' => '<p><em>Aeroplanes stranded in Humla in this recent photo. Photo Courtesy: RSS</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 2: The impact of Westerly wind is expected to increase in different parts of the country from tonight (February 2) onward. According to the Department of Hydrology and Meteorology, the prevalence of Westerly wind that is having partial impact in the country’s weather right now is likely to increase its influence from tonight onward. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall is likely to take place in some areas of Province 1, Bagmati Province, Gandaki Province, Madhes Province and Lumbini Province, the department shared. There are high chances of light snowfall in some places of high hills and mountainous range of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has urged all concerned people to adopt necessary safety and precautionary measures to stem the risk emanating from the weather changes. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-03', 'keywords' => '', 'description' => '', 'sortorder' => '14453', 'image' => '20220203082523_NabinLamichhane_Manang_RSS_14.jpg', 'article_date' => '2022-02-02 18:28:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14709', 'article_category_id' => '1', 'title' => 'Locals of Melamchi warn of Obstructing Project Work', 'sub_title' => '', 'summary' => 'February 2: The Helambu-Melamchi Flood Victims Concern Committee has stated that they will not allow the Melamchi Water Supply Project to undertake any work until their demands are met.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">February 2: The Helambu-Melamchi Flood Victims Concern Committee has stated that they will not allow the Melamchi Water Supply Project to undertake any work until their demands are met.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee handed over a memorandum with a six-point demand to the project's executive director Basudev Poudel on Tuesday. The committee has warned to stop all of the works of the Melamchi Water Supply Project until the demands of the flood-affected locals are implemented.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">President of the Helambu-Melamchi Flood Victims Concern Committee, Bharat Thapa said that the work of the project will be stopped completely from February 3. “We have informed the Melamchi Water Supply Project, the Asian Development Bank, and the Sindhupalchok District Administration Office that the project will be completely shut down from February 3 if the demand of the locals is not met,” Thapa said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He said that the work of the project will be stopped by holding a public hearing on February 3 at Kiul Bagar in Helambu. Thapa said that the project work has to be stopped because of the negligence and irresponsibility of the concerned bodies working in the affected areas even after nine months of the floods.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee has demanded that the stones, sand, and ballast should be stored in a safe place while cleaning the source of the tunnel, and comply with the agreement reached for long term development. The committee has also demanded that the budget should be provided with necessary equipment for the conservation of remaining settlements and cultivable land in the Melamchi river basin area. Moreover, the committee has also demanded that the Melamchi-Timbu road connecting the source of the river should be upgraded immediately so that it can be operated even during the rainy season and the preparation of a detailed study report for the reconstruction of the lower coastal area and risk reduction from the catchment area of the source of Melamchi river.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Receiving the memorandum along with the demand submitted by the committee, the project's executive director Poudel said that since the headworks of Melamchi Water Supply Project at Ambathan and reconstruction of other physical infrastructure of the project have been initiated, the demand of the locals will be gradually addressed. “We are working systematically. The locals also need to support the project,” he said, adding, “Halting the work alone is not the solution to the problem. We are trying to address the demands of the locals.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee found that the main reason for the massive damage caused by the flood in Melamchi River was a large amount of cement, poles, chemicals, and other construction materials, heavy equipment, raw materials piled up at the project site, and unmanaged dumping in Ambathan.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The committee has emphasized that the project should focus mainly on protection of livelihood of flood-affected people, systematic rehabilitation of displaced families, relocation and reclamation of land for the livelihood of affected families, protection of farms and personal and public property and reconstruction of damaged roads, irrigation, school buildings, crematoriums, temples, and other public infrastructure. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has entered into an agreement with Chinese company Sino Hydro to reconstruct the project and divert water following the damage caused by flooding of the Melamchi River and landslides on June 15. The Chinese company, which was handed the contract after the government allocated Rs 360 million to repair the project, has already started the work of reconstruction.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14452', 'image' => '20220202062243_20210906103006_20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2022-02-02 18:22:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14708', 'article_category_id' => '1', 'title' => 'Investor Rue ‘Double Taxation’ Policy', 'sub_title' => '', 'summary' => 'February 2: Investors operating companies in Nepal are at the receiving end due to double taxation on profit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">February 2: Investors operating companies in Nepal say they are at the receiving end due to double taxation on profit.</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"">Especially, investors (institutional and general shareholders) of public companies are hit hardest by the double taxation policy.</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"">Shareholders and investors themselves do not have to pay taxes twice. However, their return from investment is taxed twice. As a result, investors and shareholders have been complaining that they are suffering from double taxation.</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"">Shareholders and investors have long demanded a one-time tax on income. However, the concerned bodies have been ignoring this demand from the very beginning.</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"">Companies first pay an income tax of 25 percent to 30 percent of their profits. Banks and financial institutions, as well as companies that produce hazardous items like cigarettes and alcohol, pay up to 30 percent of their profits as income tax.</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"">Companies of other natures have been paying income tax up to 25 percent. The shareholders have been paying an additional 5 percent tax even after distributing the remaining net profit as dividend. As a result, the shareholders and investors argue that they are affected by double taxation on the same income.</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"">Once a tax has been paid, it should not be subject to taxation again. However, the government has been raising taxes on companies in a way that is not acceptable to them, said one investor.</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 company will make a profit from the investor's investment. And, that profit belongs to the investor,” he said. Accordingly, there is no justification for levying tax when distributing post-tax profits as dividends,” he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Investors of banks and financial institutions have been hit even harder, he further 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"">Raju Prasad Pyakurel, information officer of the Inland Revenue Department, argues that this arrangement is right from every point of view.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He says the theoretical side of the economy, international practice, Nepal's law, and practice are also justifiable.</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"">‘First, the tax paid by the company has become the tax paid by the company itself from its income. After that, the shareholders will have to pay tax for the dividend,” he said, adding, “Therefore, this arrangement is justifiable.”</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"">Advocate Jyoti Dahal, a scholar on stocks, also said that the provision was legal and 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 company has paid income tax, and the shareholders have paid profit tax. Therefore, this tax system is one-sided in which the shareholders are not affected by double taxation, says Dahal. “So the shareholders have to accept it naturally,” he opined.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14451', 'image' => '20220202034222_double-taxation-1024x634.jpeg', 'article_date' => '2022-02-02 15:41:30', '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
