October 6: Associations of business and industries of the priavte sector of Nepal have expressed concerns regarding the delay in implementation of the US-funded Millennium Challenge Corporation (MCC) grant.…
October 6: Associations of business and industries of the priavte sector of Nepal have expressed concerns regarding the delay in implementation of the US-funded Millennium Challenge Corporation (MCC) grant.…
October 6: Nepal Rastra Bank (NRB) is issuing a repurchase agreement (repo) worth Rs 20 billion today (October 6).…
October 6: The government has fired chairman of Securities Board of Nepal (SEBON) Bhishma Raj…
October 6: Swiss Ambassador to Nepal Elisabeth von Capeller held discussions with Chamber of Industries Morang regarding possible cooperation in producing skilled…
October 6: Finance Minister Janardan Sharma has said COVID-19 has impacted the entire economy, good governance and humanity as a…
October 6: The Morang District Court on Tuesday sentenced six people, including the main accused Chudamani Upreti aka Gore, to life imprisonment on charges of smuggling 33 kg of gold and killing Sanam Shakya of…
October 6: The government has endorsed security features to be included in the e-passport of the country.…
October 6: The Public Procurement Monitoring Office has blacklisted seven construction companies.…
October 5: The annual consumption of textiles in Nepal is around 1 billion meters, according to the textile…
October 5: The Special Economic Zone (SEZ) Authority has signed a Memorandum of Understanding (MoU) with Nepal Infrastructure Bank Limited to develop the Special Economic Zones under public private partnership…
October 5: Deposit collection of commercial banks has reached an all-time high but the banks are still lacking lendable…
October 5: The government has started preparations to expand the labour market by identifying new labour destination countries for…
October 5: Police have arrested a total of 207 persons from the Kathmandu Valley on charge of theft and…
October 5: The 58th annual report of the Auditor General has been tabled at a meeting of the National Assembly on Monday (October 4) amid protests from the main opposition…
October 5: The Ministry of Home Affairs has formed a province-wise monitoring team under the leadership of its joint-secretary to make market monitoring effective during the festive…
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">October 6: Associations of business and industries of the priavte sector of Nepal have expressed concerns regarding the delay in implementation of the US-funded Millennium Challenge Corporation (MCC) grant agreement signed with Nepal on September 14, 2017.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a joint statement on Wednesday (October 6), the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) urged all stakeholders to immediately endorse the grant agreement through the parliament considering the greater benefit of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The private sector organisations argued that the country can attain high economic growth if the strategically important transmission lines and roads under the MCC project are completed on time. The statement noted that the country needs adequate amount of investment in the aftermath of the Covid-19 pandemic and the MCC offers the country an opportunity for investment as well as long-term development of transmission lines for exporting electricity at a time when the country’s economy is struggling due to the impact of the pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, the private sector has urged all the political parties and other stakeholders to endorse the grant agreement without any further delay as it has already been four years since the agreement was signed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The press statement further said that the internal resources of the country has shrunk due to the impact of the pandemic while foreign assistanc has also not increased as expected. According to the statement, foreign investment in the first month of the current fiscal year has declined by 49 percent. In such a context, the US$ 500 million grant assistance from the USA would play a vital role in uplifting the country’s economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The statement also said that Nepal faces the prospect of wasting the electricity produced in the country due to the lack of transmission lines. On the other hand, poor roads have added to the industrial cost therby increasing the commercial price of products and reducing the competitiveness of the goods in the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The joint statement also drew the attention that the MCC grant agreement must be implemented within five years of signing the agreement. It further said that the project is being implemebt in 30 nations across the world including in Latin America, Europe, Asia and Africa and expressed hope that it will be implemented in Nepal without any problem.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"> </span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '13841', 'image' => '20211006043634_20201218014622_1608248580.11.jpg', 'article_date' => '2021-10-06 16:35:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14094', 'article_category_id' => '1', 'title' => 'NRB Issuing Rs 20 Billion Repo ', 'sub_title' => '', 'summary' => 'October 6: Nepal Rastra Bank (NRB) is issuing a repurchase agreement (repo) worth Rs 20 billion today (October 6). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Nepal Rastra Bank (NRB) is issuing a repurchase agreement (repo) worth Rs 20 billion today (October 6). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bank is issuing the repo to prevent shortage of investment capital in banks and financial system. The repo will mature on October 19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB issues short-term repo if there is liquidity shortage in the banking system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before this, NRB had sent Rs 30 billion in market through repo. Banks and financial institutions use the repo, inter-bank lending and Standing Liquidity Facility (SLF) in case of liquidity crunch. - RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13840', 'image' => '20211006034834_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-10-06 15:47:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14093', 'article_category_id' => '1', 'title' => 'Government Fires SEBON Chairman Bhisma Dhungana', 'sub_title' => '', 'summary' => 'October 6: The government has fired chairman of Securities Board of Nepal (SEBON) Bhishma Raj Dhungana.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 6: The government has fired chairman of Securities Board of Nepal (SEBON) Bhishma Raj Dhungana, who was earlier suspended for his alleged involvement in illegal purchase of shares. A meeting of the Council of Ministers on Tuesday decided to fire Dhungana from his post.</span></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 former chairman is alleged to have purchased shares of Sarbottam Cement in the name of his daughter. He was asked to submit an explanation by the cabinet meeting held on September 27.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Although Dhungana submitted his explanation last Sunday, the government stated that his explanation was not satisfactory and proceeded with the dismissal. The government decided to dismiss him upon the suggestions of a committee formed to investigate the allegations of his involvement in insider trading.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">An investigation committee formed by the Ministry of Finance had submitted a report to the Finance Minister after he was found guilty.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a similar case, former chief executive officer of Nepal Stock Exchange Chandra Singh Saud, who was also involved in the purchase of share of the same company, resigned from his post to facilitate government investigation.</span></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 previous government led by KP Sharma Oli had appointed Dhungana as the chairman of the board for four years in January 2020.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sources say that the cabinet is yet to decide about appointment of a new chairman in place of Dhungana.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13839', 'image' => '20211006031548_20160922121316_sebon.jpg', 'article_date' => '2021-10-06 15:14:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14095', 'article_category_id' => '1', 'title' => 'Swiss Ambassador Discusses Possible Cooperation with Chamber of Industries Morang', 'sub_title' => '', 'summary' => 'October 6: Swiss Ambassador to Nepal Elisabeth von Capeller held discussions with Chamber of Industries Morang regarding possible cooperation in producing skilled manpower.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">October 6: Swiss Ambassador to Nepal Elisabeth von Capeller held discussions with Chamber of Industries Morang regarding possible cooperation in producing skilled manpower.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During a meeting at the secretariat of the chamber on Monday, the two sides discussed wide range of issues such as trade relation between Nepal and Switzerland, prospects of investment, technology transfer as well as skill development programme organized by the chamber.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After a presentation of the current programmes undertaken by the chamber, the Swiss ambassador said that the Swiss government expects similar kinds of programmes while working in collaboration with local organisations and added that she had never come across such excellent programmes in the last eight years. She also extended her best wishes for the programmes run by the chamber.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the chamber Suyash Pyakural urged the Swiss ambassador to facilitate in bringing Swiss investment in Nepal and also to exchange knowledge and technology among the two countries.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13838', 'image' => '20211006040745_embastor pic.jpg', 'article_date' => '2021-10-06 16:06:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14092', 'article_category_id' => '1', 'title' => 'Finance Minister Points Out Frequent Changes in Policy as Development Bottleneck ', 'sub_title' => '', 'summary' => 'October 6: Finance Minister Janardan Sharma has said COVID-19 has impacted the entire economy, good governance and humanity as a whole. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Finance Minister Janardan Sharma has said COVID-19 has impacted the entire economy, good governance and humanity as a whole. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting of Sustainable Development and Good Governance Committee of the National Assembly on Tuesday, October 5, the finance minister said that massive reform in development targets and plans was required to cope with the current situation resulting from COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Development strategy, setting goal and implementation in itself are contradictory. The trend of shift in plan and policy along with the change in government and ministers is a great challenge," the finance minister told the committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma also said that we lack a framework of socialism-oriented economy despite its provision in the Constitution while adding that such issues were not incorporated in our plans and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that making self-reliant economy was the main goal of the present government, he argued that there was no other option than to move ahead by making fundamental policy on inclusive development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Auditor General Tanka Mani Sharma, Chief Secretary Shankar Das Bairagi, Financial Comptroller General Suman Raj Aryal and other high ranking government officials shared their opinions on government spending, auditing system and details of the government properties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the chairperson of the Upper House Committee Dinanath Sharma stressed the need for massive reform in government spending adding that unscrupulous spending has increased arrears in the state coffer. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13837', 'image' => '20211006123024_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-10-06 12:29:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14091', 'article_category_id' => '1', 'title' => 'Six including Gorey get Life Imprisonment in Gold Smuggling Scam ', 'sub_title' => '', 'summary' => 'October 6: The Morang District Court on Tuesday sentenced six people, including the main accused Chudamani Upreti aka Gore, to life imprisonment on charges of smuggling 33 kg of gold and killing Sanam Shakya of Urlabari.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 6: The Morang District Court on Tuesday sentenced six people, including the main accused Chudamani Upreti aka Gore, to life imprisonment on charges of smuggling 33 kg of gold and killing Sanam Shakya of Urlabari. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">District Court Judge Bharat Lamsal issued the verdict following the final hearing on the case. The court sentenced the six persons to life imprisonment, while one was slapped a jail-term of three years, and another person involved in the scam for six months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The court sentenced Gore, Tekraj Malla Thakuri, Lakpa Sherpa, Mohan Kafle, Narendra Karki, and Bhojraj Bhandari to life imprisonment, said the court’s record keeper Tikendra Birjung Rana. He further informed that Rajan Kumar and Madan Prasad Ghimire were sentenced to three years and six months in prison.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Morang Police had filed charge sheets against 77 people at the District Court, Morang on April 3, 2017, on charges of setting up and operating a criminal gang, trading gold illegally, involving in abduction, hostage-taking, and killing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Of the total defendants, 21 are still absconding. Rana said that the bench had adjourned the case in the name of the absconding people.</span></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 mastermind behind the gold scam is believed to be Chudamani Upreti aka Gore of Ulrabari, Morang, although high-profile police officers are also suspected to be involved in the scam. However, the police officers suspected of being involved in the case have been cleared due to lack of sufficient evidence to prove their guilt.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Former AIG Govinda Prasad Niraula, SSP Dibesh Lohani (now DIG), Shyam Bahadur Khatri, and Superintendent of Police (SP) Bikas Raj Khanal are among the police officers who were cleared by the court. Similarly, Deputy Superintendent of Police (DSP) Sanjay Raut, Prajit KC, Sub Inspector of Police (SI) Bal Krishna Sanjel, Head Constable Amar Bahadur Thapa Magar, and police constable Bishnu Khadka have also been cleared.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shakya was killed on March 3, 2017, after the gold smuggled from Dubai by Gore’s group disappeared. A video of Gore's direct involvement in the murder of gold smuggler Shakya was also made public by the police.</span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Police had recovered Shakya’s body from a vehicle (Ba 12 Cha 5963) in Biratnagar. At that time, Mohan Kafle, Tekraj Malla Thakuri, Narendra Karki, and Krishna were arrested. While investigating the case, the police were told that the group had smuggled 38 quintals of gold on different dates.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13835', 'image' => '20211006122610_court.jpg', 'article_date' => '2021-10-06 12:25:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14089', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Security Features of E-Passport', 'sub_title' => '', 'summary' => 'October 6: The government has endorsed security features to be included in the e-passport of the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The government has endorsed security features to be included in the e-passport of the country. A meeting of the Council of Ministers on Tuesday took a number of decisions including endorsement of security features for the e-passport, shared Minister for Law, Justice and Parliamentarian Affairs Gyanendra Bahadur Karki. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The biometric passport is equipped with an electronic microprocessor chip. According to Minister Karki, who is also the government's spokesperson, the government was also preparing to implement e-passport in the near future. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting also decided to approve the Employment permit system operation and management (first amendment) gudelines-2078 BS. Likewise, Joint-secretary Rabi Lal Pant was promoted to special class under the administrative service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint attorney Dr Gopichandra Bhattarai has been designated as the member of the Foreign Employment Tribunal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also formed a delegation that will be representing Nepal in the Commemorative High-Level Meeting of the Non-Aligned Movement to be held from October 10-14 later this year. Minister for Foreign Affairs Narayan Khadka will lead the Nepali delegation, shared Minister Karki. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13834', 'image' => '20211006081437_NewLogo.jpg', 'article_date' => '2021-10-06 08:14:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14088', 'article_category_id' => '1', 'title' => 'Seven Construction Companies Blacklisted ', 'sub_title' => '', 'summary' => 'October 6: The Public Procurement Monitoring Office has blacklisted seven construction companies. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The Public Procurement Monitoring Office has blacklisted seven construction companies. The office issued a notice on Tuesday informing that the companies were blacklisted because they failed to complete the projects as per the contract. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the notice, the office mentioned that they were blacklisted from one to three years effective from October 5. The decision to blacklist the companies was decided as per section 65 of the Public Procurement Act, 2063. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">MS Indo Engineering Project Corporation of Maharastra, India was blacklisted for three years as per the recommendation of the Project Directorate of the Department of Roads, Bishalnaghar. </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"">Similarly, upon the recommendation of Nagarjun Municipality, Land Ring Construction Service, Kathmandu has been blacklisted for two years. Other companies that were blacklisted for one year include Bipin Vet Centre, Kashyapati Construction Service, Rachana Trade International, Ninlantha Construction Service and Suppliers, and Adventure the Anand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The blacklisted companies would not be allowed to participate in the purchase and construction services called by the government. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13833', 'image' => '20211006080853_ppmo - Copy.jpg', 'article_date' => '2021-10-06 08:08:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14087', 'article_category_id' => '1', 'title' => 'Domestic Textile and Garment Industries Struggling to Compete with Imported Goods', 'sub_title' => '', 'summary' => 'October 5: The annual consumption of textiles in Nepal is around 1 billion meters, according to the textile industrialists.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Om Prakash Khanal</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: The annual consumption of textiles in Nepal is around 1 billion meters, according to the textile industrialists. However, an estimated 200 small and large domestic industries meet only 5 to 10 percent of this demand, while 900 million meters get imported from abroad.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Meanwhile, the industrialists also claim that only 10 percent of the imported garments come through formal channels, while 800 million meters come through unauthorized channels every year. Likewise, they inform that unauthorized import of Indian textiles is on the rise.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hence, the domestic textile industries are forced to settle for a 10 percent supply. Although textile production is a crucial opportunity for domestic producers, they are unable to increase their capacity as the market is dominated by external products.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Ramesh Gadiya claimed that the climate of the Terai region of Nepal is suitable for the textile industry. Although both the production and the market are favorable, the domestic industries have not been able to increase their investment due to unfavorable government policies.</span></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 industrialists claim that they can become self-reliant in textiles if the government gives policy protection to the textile industry. Gadia, who is also the executive director of Nobel Textiles, said investors did not want to increase investment in the textile industry due to the unstable 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"">Entrepreneurs understand that countries like the UK, China, and Bangladesh have moved ahead in industrial development by promoting the textile industry. Up to 90 percent subsidy has been allocated to the textile industry in India. Likewise, Chetan Gadiya argues that competition with subsidized Indian textiles has become challenging.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Until a few years ago, the government had given concession to the industry to refund value-added tax (VAT) on the sale of garments. There was a 70 percent VAT exemption on synthetic yarn and 100 percent on cotton yarn.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">This policy was removed from FY 2075/76. At that time, India reduced the Goods and Services Tax (GST) on textiles to 5 percent, increasing the number of Indian textiles entering Nepal's market.</span></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 textile industrialists had expressed their anxiety after the removal of VAT concession. The then Council of Ministers had given a 50 percent subsidy on electricity to quell the opposition of the entrepreneurs.</span></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 grant received in FY 2076/77 was removed in FY 2077/78. The Nepal Electricity Authority (NEA) had terminated the grant scheme stating that the decision of the Council of Ministers was not included in the previous year's budget.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hari Gautam, the coordinator of the Birgunj Chamber of Commerce and Industry, says that the textile industry has not been able to flourish due to the unstable policy of the government. "The government is working to demoralize the domestic industries," Gautam, who is also the union's vice-president, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The industrialists have suggested that the government should take a policy to facilitate the textile industry as the cost of the textile industry. According to Gadiya, the government should take a long-term policy of not collecting VAT from the textile and garment industries.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13832', 'image' => '20211005023706_1633397523.jpg', 'article_date' => '2021-10-05 14:35:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14086', 'article_category_id' => '1', 'title' => 'NIFRA to Support Special Economic Zones', 'sub_title' => '', 'summary' => 'October 5: The Special Economic Zone (SEZ) Authority has signed a Memorandum of Understanding (MoU) with Nepal Infrastructure Bank Limited to develop the Special Economic Zones under public private partnership model.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">October 5: The Special Economic Zone (SEZ) Authority has signed a Memorandum of Understanding (MoU) with Nepal Infrastructure Bank Limited to develop the Special Economic Zones under public private partnership model. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As per the understanding, the bank will assist the government authority to help develop the Special Economic Zones in Panchkhal and Bara (Block B and C).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A joint statement issued by the bank and SEZ Authority states that the bank will help in technical and financial analysis of SEZ, marketing, selection of developers, as well as make arrangements for investment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of the SEZ Authority Balaram Rijal and CEO of Nepal Infrastructure Bank Ram Krishna Khatiwada signed the agreement on behalf of their respective organisations amid a recent function.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13831', 'image' => '20211005023417_Untitled.jpg', 'article_date' => '2021-10-05 14:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14084', 'article_category_id' => '1', 'title' => 'Deposit Collection of Commercial Banks at a Record High', 'sub_title' => '', 'summary' => 'October 5: Deposit collection of commercial banks has reached an all-time high but the banks are still lacking lendable money. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: Deposit collection of commercial banks has reached an all-time high but the banks are still lacking lendable money. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Until the end of September, the total deposits of commercial banks reached Rs 421 billion, which is the highest so far. Banks had collected deposits of Rs 411 billion until mid-July. The deposit collection had declined with the start of the new fiscal year which now has reached a record high. Due to declining deposit collection, banks have been experiencing liquidity crunch since the beginning of the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"At present, the demand for loans is very high. So despite the increase in deposit collection, the problem of liquidity crunch still exists," informed Bhuwan Dahal, chairman of Nepal Bankers' Association. As the government has started spending, deposit collection of banks has started increasing. There has been a rise in the volume of remittances as well. Demand for loans is very high now. At the same time, the flow of credit has also increased. That is why the shortage of liquidity continues," Dahal said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The volume of imports is also increasing due to the festive season. Import is likely to further increase and in order to meet the increasing demand of import, the importers have been demanding more loan at the moment. As a result, liquidity crunch persists. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dahal says remittances will be a major means of managing liquidity. Remittance inflows have increased since last week. If the expected amount of remittances comes, the problem of liquidity shortage will be solved. </span></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 Dahal, with the increase in remittance inflow, the balance of payments and foreign exchange reserves will also improve. In that case it will be easier to review interest rates as well. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Deposits of Rs 38.12 billion have been collected in the last week alone which is the highest increase in a week. Banks had raised interest rates on deposits from September 17 due to lack of liquidity. However, deposit collection did not improve right after the increase in the interest rate. In that week only eight billion rupees of deposits had been collected. However in the next week, the deposit collection increased significantly. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Government spending is a major source of bank deposits. The government spending was halted until the third week of September as the replacement budget couldn't be passed in the parliament due to CPN-UML's obstruction. After the bill was passed, government started spending which resulted in a rise in the deposit collection.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Along with the deposit collection, loan disbursement has also increased. In the last week, banks have extended loans of Rs 39 billion. The overall lending of commercial banks has reached Rs 394 billion. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13829', 'image' => '20211005125536_20210427021438_20201216032922_20200419015315_bank-malware.jpg', 'article_date' => '2021-10-05 12:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14083', 'article_category_id' => '1', 'title' => 'Government Searching for New Labour Destinations', 'sub_title' => '', 'summary' => 'October 5: The government has started preparations to expand the labour market by identifying new labour destination countries for employment.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: The government has started preparations to expand the labour market by identifying new labour destination countries for employment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In order to make foreign employment safe, systematic and dignified, labour agreements with other destination countries have been initiated. According to the Ministry of Labour, Employment and Social Security, the process of labour agreement with Oman, the labour destination for Nepalese, has reached its final stage.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">For this, a draft agreement has been prepared and submitted to the Government of Oman. The ministry is ready to expedite the process of agreement with Oman by sending the draft to the Council of Ministers as soon as it is approved by Oman.</span></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 Labour Secretary Surya Prasad Gautam, the ministry is ready to complete the necessary preparations to send workers to the countries with which Nepal has signed labour agreements but has not been able to send workers due to technical issues. </span></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, labour agreements have been signed with nine countries including Qatar, the United Arab Emirates (UAE), Republic of Korea (South Korea), Bahrain, Japan, Israel, Jordan, Malaysia and Mauritius. Nepal first signed a labour agreement with Qatar in 2005. An agreement was reached with Japan in 2009 to send workers on the basis of Japan International Trainee and Skilled Worker Cooperation (JITCO) model. Despite the signing of a Memorandum of Cooperation (MoC) with Japan to re-employ workers with special skills in 2019, the agreement has not been implemented. The ministry said that the directive to send workers as per the agreement has not been finalized and is still being discussed.</span></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, agreements were signed with Bahrain in 2008, Jordan in 2017, Malaysia in 2018 and Mauritius in 2019. The ministry has started preparations to finalize the technical issues and send Nepalese to the countries where agreements have been reached but people have not been able to go. A joint programme was signed with Israel in 2015 to send Nepali workers into different sectors including agriculture. According to the Ministry of Labour, the process of taking workers as caregivers has already started in the first phase after the agreement.</span></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 Labour Secretary Gautam, Israel will take 1,000 workers in the first phase. For this, a roster of 1,600 workers has been prepared and sent. The agreement reached with the United Arab Emirates in 2007 was renewed in 2019. Initiatives are being taken to renew the 2007 labour agreement with South Korea. As the agreement with Korea is renewed every two and a half years, the agreement with South Korea will be renewed soon to cover the issues of workers' rights, said Labour Secretary Gautam. Labour expert Ganesh Gurung says the government has not been able to manage the foreign employment yet. According to him, the government has not been able to undertake result-oriented work in finding new labour destination countries.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13828', 'image' => '20211005120055_20201125033543_20200315123851_1111.jpg', 'article_date' => '2021-10-05 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14082', 'article_category_id' => '1', 'title' => '207 Pickpockets Nabbed ahead of Festivals in Kathmandu ', 'sub_title' => '', 'summary' => 'October 5: Police have arrested a total of 207 persons from the Kathmandu Valley on charge of theft and pickpocket. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Police have arrested a total of 207 persons from the Kathmandu Valley on charge of theft and pickpocket. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Metropolitan Police Range Kathmandu held the pickpockets from different parts of the valley under its campaign initiated against robbery and pick-pocketing ahead of the festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Metropolitan Police Range Kathmandu, Senior Superintendent of Police (SSP) Ashok Singh, said in a press conference on October 4 that the pick-pockets were arrested from public vehicles, shopping malls and main market areas for their alleged involvement in the pickpocket in the past 20 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the pickpockets were held red-handed by the police personnel deployed in plain clothes while stealing cash, mobile phones, jewelries and other goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the 207 arrestees, investigations have been initiated against 161 while 46 others have been sent to the custody after completing the investigation process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">SSP Singh said that police personnel were deployed in public vehicles in collaboration with the transport entrepreneurs. Police have also stated that the burglars were found to communicate in code language to rob people in public vehicles. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13827', 'image' => '20211005082424_pic.jpg', 'article_date' => '2021-10-05 08:23:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14081', 'article_category_id' => '1', 'title' => '58th Annual Report of Auditor General Tabled in National Assembly', 'sub_title' => '', 'summary' => 'October 5: The 58th annual report of the Auditor General has been tabled at a meeting of the National Assembly on Monday (October 4) amid protests from the main opposition party. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The 58th annual report of the Auditor General has been tabled at a meeting of the National Assembly on Monday (October 4) amid protests from the main opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs, Gyanendra Bahadur Karki, on behalf of Prime Minister Sher Bahadur Deuba, presented the annual report in the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting passed a proposal of sending Food Hygiene and Quality Bill-2077, Public Service Broadcasting Bill-2077, Archive Protection (first amendment) Bill-2077 and Security Printing Bill-2077 to Legislation Management Committee for clause-wise discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, NA Chairperson Ganesh Prasad Timilsina read out the letter sent from the office of the President regarding certification of bills and revocation of the ordinance related to political parties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The next meeting of NA has been scheduled for 2:00 pm on October 10. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13826', 'image' => '20211005081730_nepal-parliament-1491925922.jpg', 'article_date' => '2021-10-05 08:10:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14080', 'article_category_id' => '1', 'title' => 'Home Ministry forms Province-wise Teams for Monitoring during Festive Season ', 'sub_title' => '', 'summary' => 'October 5: The Ministry of Home Affairs has formed a province-wise monitoring team under the leadership of its joint-secretary to make market monitoring effective during the festive season.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Ministry of Home Affairs has formed a province-wise monitoring team under the leadership of its joint-secretary to make market monitoring effective during the festive season. </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 ministry, the monitoring teams have been formed in all seven provinces to immediately resolve the problems seen in the market during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The objective is to make the services related to security, supply, market management and transport convenient and accessible by intensifying monitoring during this period. <br /> The ministry's spokesperson Fanindra Mani Pokharel shared the concerned agencies are monitoring the market across the country so as to make the services related to security, transport, supply and market management convenient and effective as the grand festivals such as Dashain, Tihar and Chhath are just around the corner. <br /> Market monitoring is being undertaken under the coordination of Assistant Chief District Officer across the country. --RSS <br /> <br /> </span></span></span></p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13825', 'image' => '20211005080537_20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-10-05 08:05:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">October 6: Associations of business and industries of the priavte sector of Nepal have expressed concerns regarding the delay in implementation of the US-funded Millennium Challenge Corporation (MCC) grant agreement signed with Nepal on September 14, 2017.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a joint statement on Wednesday (October 6), the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) urged all stakeholders to immediately endorse the grant agreement through the parliament considering the greater benefit of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The private sector organisations argued that the country can attain high economic growth if the strategically important transmission lines and roads under the MCC project are completed on time. The statement noted that the country needs adequate amount of investment in the aftermath of the Covid-19 pandemic and the MCC offers the country an opportunity for investment as well as long-term development of transmission lines for exporting electricity at a time when the country’s economy is struggling due to the impact of the pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, the private sector has urged all the political parties and other stakeholders to endorse the grant agreement without any further delay as it has already been four years since the agreement was signed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The press statement further said that the internal resources of the country has shrunk due to the impact of the pandemic while foreign assistanc has also not increased as expected. According to the statement, foreign investment in the first month of the current fiscal year has declined by 49 percent. In such a context, the US$ 500 million grant assistance from the USA would play a vital role in uplifting the country’s economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The statement also said that Nepal faces the prospect of wasting the electricity produced in the country due to the lack of transmission lines. On the other hand, poor roads have added to the industrial cost therby increasing the commercial price of products and reducing the competitiveness of the goods in the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The joint statement also drew the attention that the MCC grant agreement must be implemented within five years of signing the agreement. It further said that the project is being implemebt in 30 nations across the world including in Latin America, Europe, Asia and Africa and expressed hope that it will be implemented in Nepal without any problem.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"> </span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '13841', 'image' => '20211006043634_20201218014622_1608248580.11.jpg', 'article_date' => '2021-10-06 16:35:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14094', 'article_category_id' => '1', 'title' => 'NRB Issuing Rs 20 Billion Repo ', 'sub_title' => '', 'summary' => 'October 6: Nepal Rastra Bank (NRB) is issuing a repurchase agreement (repo) worth Rs 20 billion today (October 6). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Nepal Rastra Bank (NRB) is issuing a repurchase agreement (repo) worth Rs 20 billion today (October 6). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bank is issuing the repo to prevent shortage of investment capital in banks and financial system. The repo will mature on October 19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB issues short-term repo if there is liquidity shortage in the banking system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before this, NRB had sent Rs 30 billion in market through repo. Banks and financial institutions use the repo, inter-bank lending and Standing Liquidity Facility (SLF) in case of liquidity crunch. - RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13840', 'image' => '20211006034834_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-10-06 15:47:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14093', 'article_category_id' => '1', 'title' => 'Government Fires SEBON Chairman Bhisma Dhungana', 'sub_title' => '', 'summary' => 'October 6: The government has fired chairman of Securities Board of Nepal (SEBON) Bhishma Raj Dhungana.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 6: The government has fired chairman of Securities Board of Nepal (SEBON) Bhishma Raj Dhungana, who was earlier suspended for his alleged involvement in illegal purchase of shares. A meeting of the Council of Ministers on Tuesday decided to fire Dhungana from his post.</span></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 former chairman is alleged to have purchased shares of Sarbottam Cement in the name of his daughter. He was asked to submit an explanation by the cabinet meeting held on September 27.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Although Dhungana submitted his explanation last Sunday, the government stated that his explanation was not satisfactory and proceeded with the dismissal. The government decided to dismiss him upon the suggestions of a committee formed to investigate the allegations of his involvement in insider trading.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">An investigation committee formed by the Ministry of Finance had submitted a report to the Finance Minister after he was found guilty.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a similar case, former chief executive officer of Nepal Stock Exchange Chandra Singh Saud, who was also involved in the purchase of share of the same company, resigned from his post to facilitate government investigation.</span></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 previous government led by KP Sharma Oli had appointed Dhungana as the chairman of the board for four years in January 2020.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sources say that the cabinet is yet to decide about appointment of a new chairman in place of Dhungana.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13839', 'image' => '20211006031548_20160922121316_sebon.jpg', 'article_date' => '2021-10-06 15:14:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14095', 'article_category_id' => '1', 'title' => 'Swiss Ambassador Discusses Possible Cooperation with Chamber of Industries Morang', 'sub_title' => '', 'summary' => 'October 6: Swiss Ambassador to Nepal Elisabeth von Capeller held discussions with Chamber of Industries Morang regarding possible cooperation in producing skilled manpower.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">October 6: Swiss Ambassador to Nepal Elisabeth von Capeller held discussions with Chamber of Industries Morang regarding possible cooperation in producing skilled manpower.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During a meeting at the secretariat of the chamber on Monday, the two sides discussed wide range of issues such as trade relation between Nepal and Switzerland, prospects of investment, technology transfer as well as skill development programme organized by the chamber.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After a presentation of the current programmes undertaken by the chamber, the Swiss ambassador said that the Swiss government expects similar kinds of programmes while working in collaboration with local organisations and added that she had never come across such excellent programmes in the last eight years. She also extended her best wishes for the programmes run by the chamber.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the chamber Suyash Pyakural urged the Swiss ambassador to facilitate in bringing Swiss investment in Nepal and also to exchange knowledge and technology among the two countries.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13838', 'image' => '20211006040745_embastor pic.jpg', 'article_date' => '2021-10-06 16:06:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14092', 'article_category_id' => '1', 'title' => 'Finance Minister Points Out Frequent Changes in Policy as Development Bottleneck ', 'sub_title' => '', 'summary' => 'October 6: Finance Minister Janardan Sharma has said COVID-19 has impacted the entire economy, good governance and humanity as a whole. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Finance Minister Janardan Sharma has said COVID-19 has impacted the entire economy, good governance and humanity as a whole. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting of Sustainable Development and Good Governance Committee of the National Assembly on Tuesday, October 5, the finance minister said that massive reform in development targets and plans was required to cope with the current situation resulting from COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Development strategy, setting goal and implementation in itself are contradictory. The trend of shift in plan and policy along with the change in government and ministers is a great challenge," the finance minister told the committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma also said that we lack a framework of socialism-oriented economy despite its provision in the Constitution while adding that such issues were not incorporated in our plans and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that making self-reliant economy was the main goal of the present government, he argued that there was no other option than to move ahead by making fundamental policy on inclusive development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Auditor General Tanka Mani Sharma, Chief Secretary Shankar Das Bairagi, Financial Comptroller General Suman Raj Aryal and other high ranking government officials shared their opinions on government spending, auditing system and details of the government properties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the chairperson of the Upper House Committee Dinanath Sharma stressed the need for massive reform in government spending adding that unscrupulous spending has increased arrears in the state coffer. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13837', 'image' => '20211006123024_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-10-06 12:29:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14091', 'article_category_id' => '1', 'title' => 'Six including Gorey get Life Imprisonment in Gold Smuggling Scam ', 'sub_title' => '', 'summary' => 'October 6: The Morang District Court on Tuesday sentenced six people, including the main accused Chudamani Upreti aka Gore, to life imprisonment on charges of smuggling 33 kg of gold and killing Sanam Shakya of Urlabari.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 6: The Morang District Court on Tuesday sentenced six people, including the main accused Chudamani Upreti aka Gore, to life imprisonment on charges of smuggling 33 kg of gold and killing Sanam Shakya of Urlabari. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">District Court Judge Bharat Lamsal issued the verdict following the final hearing on the case. The court sentenced the six persons to life imprisonment, while one was slapped a jail-term of three years, and another person involved in the scam for six months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The court sentenced Gore, Tekraj Malla Thakuri, Lakpa Sherpa, Mohan Kafle, Narendra Karki, and Bhojraj Bhandari to life imprisonment, said the court’s record keeper Tikendra Birjung Rana. He further informed that Rajan Kumar and Madan Prasad Ghimire were sentenced to three years and six months in prison.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Morang Police had filed charge sheets against 77 people at the District Court, Morang on April 3, 2017, on charges of setting up and operating a criminal gang, trading gold illegally, involving in abduction, hostage-taking, and killing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Of the total defendants, 21 are still absconding. Rana said that the bench had adjourned the case in the name of the absconding people.</span></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 mastermind behind the gold scam is believed to be Chudamani Upreti aka Gore of Ulrabari, Morang, although high-profile police officers are also suspected to be involved in the scam. However, the police officers suspected of being involved in the case have been cleared due to lack of sufficient evidence to prove their guilt.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Former AIG Govinda Prasad Niraula, SSP Dibesh Lohani (now DIG), Shyam Bahadur Khatri, and Superintendent of Police (SP) Bikas Raj Khanal are among the police officers who were cleared by the court. Similarly, Deputy Superintendent of Police (DSP) Sanjay Raut, Prajit KC, Sub Inspector of Police (SI) Bal Krishna Sanjel, Head Constable Amar Bahadur Thapa Magar, and police constable Bishnu Khadka have also been cleared.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shakya was killed on March 3, 2017, after the gold smuggled from Dubai by Gore’s group disappeared. A video of Gore's direct involvement in the murder of gold smuggler Shakya was also made public by the police.</span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Police had recovered Shakya’s body from a vehicle (Ba 12 Cha 5963) in Biratnagar. At that time, Mohan Kafle, Tekraj Malla Thakuri, Narendra Karki, and Krishna were arrested. While investigating the case, the police were told that the group had smuggled 38 quintals of gold on different dates.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13835', 'image' => '20211006122610_court.jpg', 'article_date' => '2021-10-06 12:25:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14089', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Security Features of E-Passport', 'sub_title' => '', 'summary' => 'October 6: The government has endorsed security features to be included in the e-passport of the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The government has endorsed security features to be included in the e-passport of the country. A meeting of the Council of Ministers on Tuesday took a number of decisions including endorsement of security features for the e-passport, shared Minister for Law, Justice and Parliamentarian Affairs Gyanendra Bahadur Karki. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The biometric passport is equipped with an electronic microprocessor chip. According to Minister Karki, who is also the government's spokesperson, the government was also preparing to implement e-passport in the near future. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting also decided to approve the Employment permit system operation and management (first amendment) gudelines-2078 BS. Likewise, Joint-secretary Rabi Lal Pant was promoted to special class under the administrative service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint attorney Dr Gopichandra Bhattarai has been designated as the member of the Foreign Employment Tribunal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also formed a delegation that will be representing Nepal in the Commemorative High-Level Meeting of the Non-Aligned Movement to be held from October 10-14 later this year. Minister for Foreign Affairs Narayan Khadka will lead the Nepali delegation, shared Minister Karki. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13834', 'image' => '20211006081437_NewLogo.jpg', 'article_date' => '2021-10-06 08:14:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14088', 'article_category_id' => '1', 'title' => 'Seven Construction Companies Blacklisted ', 'sub_title' => '', 'summary' => 'October 6: The Public Procurement Monitoring Office has blacklisted seven construction companies. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The Public Procurement Monitoring Office has blacklisted seven construction companies. The office issued a notice on Tuesday informing that the companies were blacklisted because they failed to complete the projects as per the contract. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the notice, the office mentioned that they were blacklisted from one to three years effective from October 5. The decision to blacklist the companies was decided as per section 65 of the Public Procurement Act, 2063. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">MS Indo Engineering Project Corporation of Maharastra, India was blacklisted for three years as per the recommendation of the Project Directorate of the Department of Roads, Bishalnaghar. </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"">Similarly, upon the recommendation of Nagarjun Municipality, Land Ring Construction Service, Kathmandu has been blacklisted for two years. Other companies that were blacklisted for one year include Bipin Vet Centre, Kashyapati Construction Service, Rachana Trade International, Ninlantha Construction Service and Suppliers, and Adventure the Anand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The blacklisted companies would not be allowed to participate in the purchase and construction services called by the government. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13833', 'image' => '20211006080853_ppmo - Copy.jpg', 'article_date' => '2021-10-06 08:08:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14087', 'article_category_id' => '1', 'title' => 'Domestic Textile and Garment Industries Struggling to Compete with Imported Goods', 'sub_title' => '', 'summary' => 'October 5: The annual consumption of textiles in Nepal is around 1 billion meters, according to the textile industrialists.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Om Prakash Khanal</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: The annual consumption of textiles in Nepal is around 1 billion meters, according to the textile industrialists. However, an estimated 200 small and large domestic industries meet only 5 to 10 percent of this demand, while 900 million meters get imported from abroad.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Meanwhile, the industrialists also claim that only 10 percent of the imported garments come through formal channels, while 800 million meters come through unauthorized channels every year. Likewise, they inform that unauthorized import of Indian textiles is on the rise.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hence, the domestic textile industries are forced to settle for a 10 percent supply. Although textile production is a crucial opportunity for domestic producers, they are unable to increase their capacity as the market is dominated by external products.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Ramesh Gadiya claimed that the climate of the Terai region of Nepal is suitable for the textile industry. Although both the production and the market are favorable, the domestic industries have not been able to increase their investment due to unfavorable government policies.</span></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 industrialists claim that they can become self-reliant in textiles if the government gives policy protection to the textile industry. Gadia, who is also the executive director of Nobel Textiles, said investors did not want to increase investment in the textile industry due to the unstable 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"">Entrepreneurs understand that countries like the UK, China, and Bangladesh have moved ahead in industrial development by promoting the textile industry. Up to 90 percent subsidy has been allocated to the textile industry in India. Likewise, Chetan Gadiya argues that competition with subsidized Indian textiles has become challenging.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Until a few years ago, the government had given concession to the industry to refund value-added tax (VAT) on the sale of garments. There was a 70 percent VAT exemption on synthetic yarn and 100 percent on cotton yarn.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">This policy was removed from FY 2075/76. At that time, India reduced the Goods and Services Tax (GST) on textiles to 5 percent, increasing the number of Indian textiles entering Nepal's market.</span></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 textile industrialists had expressed their anxiety after the removal of VAT concession. The then Council of Ministers had given a 50 percent subsidy on electricity to quell the opposition of the entrepreneurs.</span></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 grant received in FY 2076/77 was removed in FY 2077/78. The Nepal Electricity Authority (NEA) had terminated the grant scheme stating that the decision of the Council of Ministers was not included in the previous year's budget.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hari Gautam, the coordinator of the Birgunj Chamber of Commerce and Industry, says that the textile industry has not been able to flourish due to the unstable policy of the government. "The government is working to demoralize the domestic industries," Gautam, who is also the union's vice-president, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The industrialists have suggested that the government should take a policy to facilitate the textile industry as the cost of the textile industry. According to Gadiya, the government should take a long-term policy of not collecting VAT from the textile and garment industries.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13832', 'image' => '20211005023706_1633397523.jpg', 'article_date' => '2021-10-05 14:35:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14086', 'article_category_id' => '1', 'title' => 'NIFRA to Support Special Economic Zones', 'sub_title' => '', 'summary' => 'October 5: The Special Economic Zone (SEZ) Authority has signed a Memorandum of Understanding (MoU) with Nepal Infrastructure Bank Limited to develop the Special Economic Zones under public private partnership model.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">October 5: The Special Economic Zone (SEZ) Authority has signed a Memorandum of Understanding (MoU) with Nepal Infrastructure Bank Limited to develop the Special Economic Zones under public private partnership model. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As per the understanding, the bank will assist the government authority to help develop the Special Economic Zones in Panchkhal and Bara (Block B and C).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A joint statement issued by the bank and SEZ Authority states that the bank will help in technical and financial analysis of SEZ, marketing, selection of developers, as well as make arrangements for investment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of the SEZ Authority Balaram Rijal and CEO of Nepal Infrastructure Bank Ram Krishna Khatiwada signed the agreement on behalf of their respective organisations amid a recent function.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13831', 'image' => '20211005023417_Untitled.jpg', 'article_date' => '2021-10-05 14:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14084', 'article_category_id' => '1', 'title' => 'Deposit Collection of Commercial Banks at a Record High', 'sub_title' => '', 'summary' => 'October 5: Deposit collection of commercial banks has reached an all-time high but the banks are still lacking lendable money. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: Deposit collection of commercial banks has reached an all-time high but the banks are still lacking lendable money. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Until the end of September, the total deposits of commercial banks reached Rs 421 billion, which is the highest so far. Banks had collected deposits of Rs 411 billion until mid-July. The deposit collection had declined with the start of the new fiscal year which now has reached a record high. Due to declining deposit collection, banks have been experiencing liquidity crunch since the beginning of the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"At present, the demand for loans is very high. So despite the increase in deposit collection, the problem of liquidity crunch still exists," informed Bhuwan Dahal, chairman of Nepal Bankers' Association. As the government has started spending, deposit collection of banks has started increasing. There has been a rise in the volume of remittances as well. Demand for loans is very high now. At the same time, the flow of credit has also increased. That is why the shortage of liquidity continues," Dahal said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The volume of imports is also increasing due to the festive season. Import is likely to further increase and in order to meet the increasing demand of import, the importers have been demanding more loan at the moment. As a result, liquidity crunch persists. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dahal says remittances will be a major means of managing liquidity. Remittance inflows have increased since last week. If the expected amount of remittances comes, the problem of liquidity shortage will be solved. </span></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 Dahal, with the increase in remittance inflow, the balance of payments and foreign exchange reserves will also improve. In that case it will be easier to review interest rates as well. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Deposits of Rs 38.12 billion have been collected in the last week alone which is the highest increase in a week. Banks had raised interest rates on deposits from September 17 due to lack of liquidity. However, deposit collection did not improve right after the increase in the interest rate. In that week only eight billion rupees of deposits had been collected. However in the next week, the deposit collection increased significantly. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Government spending is a major source of bank deposits. The government spending was halted until the third week of September as the replacement budget couldn't be passed in the parliament due to CPN-UML's obstruction. After the bill was passed, government started spending which resulted in a rise in the deposit collection.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Along with the deposit collection, loan disbursement has also increased. In the last week, banks have extended loans of Rs 39 billion. The overall lending of commercial banks has reached Rs 394 billion. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13829', 'image' => '20211005125536_20210427021438_20201216032922_20200419015315_bank-malware.jpg', 'article_date' => '2021-10-05 12:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14083', 'article_category_id' => '1', 'title' => 'Government Searching for New Labour Destinations', 'sub_title' => '', 'summary' => 'October 5: The government has started preparations to expand the labour market by identifying new labour destination countries for employment.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: The government has started preparations to expand the labour market by identifying new labour destination countries for employment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In order to make foreign employment safe, systematic and dignified, labour agreements with other destination countries have been initiated. According to the Ministry of Labour, Employment and Social Security, the process of labour agreement with Oman, the labour destination for Nepalese, has reached its final stage.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">For this, a draft agreement has been prepared and submitted to the Government of Oman. The ministry is ready to expedite the process of agreement with Oman by sending the draft to the Council of Ministers as soon as it is approved by Oman.</span></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 Labour Secretary Surya Prasad Gautam, the ministry is ready to complete the necessary preparations to send workers to the countries with which Nepal has signed labour agreements but has not been able to send workers due to technical issues. </span></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, labour agreements have been signed with nine countries including Qatar, the United Arab Emirates (UAE), Republic of Korea (South Korea), Bahrain, Japan, Israel, Jordan, Malaysia and Mauritius. Nepal first signed a labour agreement with Qatar in 2005. An agreement was reached with Japan in 2009 to send workers on the basis of Japan International Trainee and Skilled Worker Cooperation (JITCO) model. Despite the signing of a Memorandum of Cooperation (MoC) with Japan to re-employ workers with special skills in 2019, the agreement has not been implemented. The ministry said that the directive to send workers as per the agreement has not been finalized and is still being discussed.</span></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, agreements were signed with Bahrain in 2008, Jordan in 2017, Malaysia in 2018 and Mauritius in 2019. The ministry has started preparations to finalize the technical issues and send Nepalese to the countries where agreements have been reached but people have not been able to go. A joint programme was signed with Israel in 2015 to send Nepali workers into different sectors including agriculture. According to the Ministry of Labour, the process of taking workers as caregivers has already started in the first phase after the agreement.</span></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 Labour Secretary Gautam, Israel will take 1,000 workers in the first phase. For this, a roster of 1,600 workers has been prepared and sent. The agreement reached with the United Arab Emirates in 2007 was renewed in 2019. Initiatives are being taken to renew the 2007 labour agreement with South Korea. As the agreement with Korea is renewed every two and a half years, the agreement with South Korea will be renewed soon to cover the issues of workers' rights, said Labour Secretary Gautam. Labour expert Ganesh Gurung says the government has not been able to manage the foreign employment yet. According to him, the government has not been able to undertake result-oriented work in finding new labour destination countries.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13828', 'image' => '20211005120055_20201125033543_20200315123851_1111.jpg', 'article_date' => '2021-10-05 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14082', 'article_category_id' => '1', 'title' => '207 Pickpockets Nabbed ahead of Festivals in Kathmandu ', 'sub_title' => '', 'summary' => 'October 5: Police have arrested a total of 207 persons from the Kathmandu Valley on charge of theft and pickpocket. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Police have arrested a total of 207 persons from the Kathmandu Valley on charge of theft and pickpocket. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Metropolitan Police Range Kathmandu held the pickpockets from different parts of the valley under its campaign initiated against robbery and pick-pocketing ahead of the festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Metropolitan Police Range Kathmandu, Senior Superintendent of Police (SSP) Ashok Singh, said in a press conference on October 4 that the pick-pockets were arrested from public vehicles, shopping malls and main market areas for their alleged involvement in the pickpocket in the past 20 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the pickpockets were held red-handed by the police personnel deployed in plain clothes while stealing cash, mobile phones, jewelries and other goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the 207 arrestees, investigations have been initiated against 161 while 46 others have been sent to the custody after completing the investigation process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">SSP Singh said that police personnel were deployed in public vehicles in collaboration with the transport entrepreneurs. Police have also stated that the burglars were found to communicate in code language to rob people in public vehicles. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13827', 'image' => '20211005082424_pic.jpg', 'article_date' => '2021-10-05 08:23:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14081', 'article_category_id' => '1', 'title' => '58th Annual Report of Auditor General Tabled in National Assembly', 'sub_title' => '', 'summary' => 'October 5: The 58th annual report of the Auditor General has been tabled at a meeting of the National Assembly on Monday (October 4) amid protests from the main opposition party. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The 58th annual report of the Auditor General has been tabled at a meeting of the National Assembly on Monday (October 4) amid protests from the main opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs, Gyanendra Bahadur Karki, on behalf of Prime Minister Sher Bahadur Deuba, presented the annual report in the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting passed a proposal of sending Food Hygiene and Quality Bill-2077, Public Service Broadcasting Bill-2077, Archive Protection (first amendment) Bill-2077 and Security Printing Bill-2077 to Legislation Management Committee for clause-wise discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, NA Chairperson Ganesh Prasad Timilsina read out the letter sent from the office of the President regarding certification of bills and revocation of the ordinance related to political parties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The next meeting of NA has been scheduled for 2:00 pm on October 10. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13826', 'image' => '20211005081730_nepal-parliament-1491925922.jpg', 'article_date' => '2021-10-05 08:10:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14080', 'article_category_id' => '1', 'title' => 'Home Ministry forms Province-wise Teams for Monitoring during Festive Season ', 'sub_title' => '', 'summary' => 'October 5: The Ministry of Home Affairs has formed a province-wise monitoring team under the leadership of its joint-secretary to make market monitoring effective during the festive season.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Ministry of Home Affairs has formed a province-wise monitoring team under the leadership of its joint-secretary to make market monitoring effective during the festive season. </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 ministry, the monitoring teams have been formed in all seven provinces to immediately resolve the problems seen in the market during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The objective is to make the services related to security, supply, market management and transport convenient and accessible by intensifying monitoring during this period. <br /> The ministry's spokesperson Fanindra Mani Pokharel shared the concerned agencies are monitoring the market across the country so as to make the services related to security, transport, supply and market management convenient and effective as the grand festivals such as Dashain, Tihar and Chhath are just around the corner. <br /> Market monitoring is being undertaken under the coordination of Assistant Chief District Officer across the country. --RSS <br /> <br /> </span></span></span></p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13825', 'image' => '20211005080537_20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-10-05 08:05:01', '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' => '14096', 'article_category_id' => '1', 'title' => 'Private Sector Urges Stakeholders to Implement MCC', 'sub_title' => '', 'summary' => 'October 6: Associations of business and industries of the priavte sector of Nepal have expressed concerns regarding the delay in implementation of the US-funded Millennium Challenge Corporation (MCC) grant. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">October 6: Associations of business and industries of the priavte sector of Nepal have expressed concerns regarding the delay in implementation of the US-funded Millennium Challenge Corporation (MCC) grant agreement signed with Nepal on September 14, 2017.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a joint statement on Wednesday (October 6), the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) urged all stakeholders to immediately endorse the grant agreement through the parliament considering the greater benefit of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The private sector organisations argued that the country can attain high economic growth if the strategically important transmission lines and roads under the MCC project are completed on time. The statement noted that the country needs adequate amount of investment in the aftermath of the Covid-19 pandemic and the MCC offers the country an opportunity for investment as well as long-term development of transmission lines for exporting electricity at a time when the country’s economy is struggling due to the impact of the pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, the private sector has urged all the political parties and other stakeholders to endorse the grant agreement without any further delay as it has already been four years since the agreement was signed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The press statement further said that the internal resources of the country has shrunk due to the impact of the pandemic while foreign assistanc has also not increased as expected. According to the statement, foreign investment in the first month of the current fiscal year has declined by 49 percent. In such a context, the US$ 500 million grant assistance from the USA would play a vital role in uplifting the country’s economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The statement also said that Nepal faces the prospect of wasting the electricity produced in the country due to the lack of transmission lines. On the other hand, poor roads have added to the industrial cost therby increasing the commercial price of products and reducing the competitiveness of the goods in the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The joint statement also drew the attention that the MCC grant agreement must be implemented within five years of signing the agreement. It further said that the project is being implemebt in 30 nations across the world including in Latin America, Europe, Asia and Africa and expressed hope that it will be implemented in Nepal without any problem.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"> </span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '13841', 'image' => '20211006043634_20201218014622_1608248580.11.jpg', 'article_date' => '2021-10-06 16:35:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14094', 'article_category_id' => '1', 'title' => 'NRB Issuing Rs 20 Billion Repo ', 'sub_title' => '', 'summary' => 'October 6: Nepal Rastra Bank (NRB) is issuing a repurchase agreement (repo) worth Rs 20 billion today (October 6). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Nepal Rastra Bank (NRB) is issuing a repurchase agreement (repo) worth Rs 20 billion today (October 6). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bank is issuing the repo to prevent shortage of investment capital in banks and financial system. The repo will mature on October 19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB issues short-term repo if there is liquidity shortage in the banking system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before this, NRB had sent Rs 30 billion in market through repo. Banks and financial institutions use the repo, inter-bank lending and Standing Liquidity Facility (SLF) in case of liquidity crunch. - RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13840', 'image' => '20211006034834_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-10-06 15:47:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14093', 'article_category_id' => '1', 'title' => 'Government Fires SEBON Chairman Bhisma Dhungana', 'sub_title' => '', 'summary' => 'October 6: The government has fired chairman of Securities Board of Nepal (SEBON) Bhishma Raj Dhungana.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 6: The government has fired chairman of Securities Board of Nepal (SEBON) Bhishma Raj Dhungana, who was earlier suspended for his alleged involvement in illegal purchase of shares. A meeting of the Council of Ministers on Tuesday decided to fire Dhungana from his post.</span></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 former chairman is alleged to have purchased shares of Sarbottam Cement in the name of his daughter. He was asked to submit an explanation by the cabinet meeting held on September 27.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Although Dhungana submitted his explanation last Sunday, the government stated that his explanation was not satisfactory and proceeded with the dismissal. The government decided to dismiss him upon the suggestions of a committee formed to investigate the allegations of his involvement in insider trading.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">An investigation committee formed by the Ministry of Finance had submitted a report to the Finance Minister after he was found guilty.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a similar case, former chief executive officer of Nepal Stock Exchange Chandra Singh Saud, who was also involved in the purchase of share of the same company, resigned from his post to facilitate government investigation.</span></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 previous government led by KP Sharma Oli had appointed Dhungana as the chairman of the board for four years in January 2020.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sources say that the cabinet is yet to decide about appointment of a new chairman in place of Dhungana.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13839', 'image' => '20211006031548_20160922121316_sebon.jpg', 'article_date' => '2021-10-06 15:14:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14095', 'article_category_id' => '1', 'title' => 'Swiss Ambassador Discusses Possible Cooperation with Chamber of Industries Morang', 'sub_title' => '', 'summary' => 'October 6: Swiss Ambassador to Nepal Elisabeth von Capeller held discussions with Chamber of Industries Morang regarding possible cooperation in producing skilled manpower.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">October 6: Swiss Ambassador to Nepal Elisabeth von Capeller held discussions with Chamber of Industries Morang regarding possible cooperation in producing skilled manpower.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During a meeting at the secretariat of the chamber on Monday, the two sides discussed wide range of issues such as trade relation between Nepal and Switzerland, prospects of investment, technology transfer as well as skill development programme organized by the chamber.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After a presentation of the current programmes undertaken by the chamber, the Swiss ambassador said that the Swiss government expects similar kinds of programmes while working in collaboration with local organisations and added that she had never come across such excellent programmes in the last eight years. She also extended her best wishes for the programmes run by the chamber.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the chamber Suyash Pyakural urged the Swiss ambassador to facilitate in bringing Swiss investment in Nepal and also to exchange knowledge and technology among the two countries.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13838', 'image' => '20211006040745_embastor pic.jpg', 'article_date' => '2021-10-06 16:06:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14092', 'article_category_id' => '1', 'title' => 'Finance Minister Points Out Frequent Changes in Policy as Development Bottleneck ', 'sub_title' => '', 'summary' => 'October 6: Finance Minister Janardan Sharma has said COVID-19 has impacted the entire economy, good governance and humanity as a whole. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Finance Minister Janardan Sharma has said COVID-19 has impacted the entire economy, good governance and humanity as a whole. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting of Sustainable Development and Good Governance Committee of the National Assembly on Tuesday, October 5, the finance minister said that massive reform in development targets and plans was required to cope with the current situation resulting from COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Development strategy, setting goal and implementation in itself are contradictory. The trend of shift in plan and policy along with the change in government and ministers is a great challenge," the finance minister told the committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma also said that we lack a framework of socialism-oriented economy despite its provision in the Constitution while adding that such issues were not incorporated in our plans and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that making self-reliant economy was the main goal of the present government, he argued that there was no other option than to move ahead by making fundamental policy on inclusive development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Auditor General Tanka Mani Sharma, Chief Secretary Shankar Das Bairagi, Financial Comptroller General Suman Raj Aryal and other high ranking government officials shared their opinions on government spending, auditing system and details of the government properties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the chairperson of the Upper House Committee Dinanath Sharma stressed the need for massive reform in government spending adding that unscrupulous spending has increased arrears in the state coffer. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13837', 'image' => '20211006123024_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-10-06 12:29:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14091', 'article_category_id' => '1', 'title' => 'Six including Gorey get Life Imprisonment in Gold Smuggling Scam ', 'sub_title' => '', 'summary' => 'October 6: The Morang District Court on Tuesday sentenced six people, including the main accused Chudamani Upreti aka Gore, to life imprisonment on charges of smuggling 33 kg of gold and killing Sanam Shakya of Urlabari.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 6: The Morang District Court on Tuesday sentenced six people, including the main accused Chudamani Upreti aka Gore, to life imprisonment on charges of smuggling 33 kg of gold and killing Sanam Shakya of Urlabari. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">District Court Judge Bharat Lamsal issued the verdict following the final hearing on the case. The court sentenced the six persons to life imprisonment, while one was slapped a jail-term of three years, and another person involved in the scam for six months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The court sentenced Gore, Tekraj Malla Thakuri, Lakpa Sherpa, Mohan Kafle, Narendra Karki, and Bhojraj Bhandari to life imprisonment, said the court’s record keeper Tikendra Birjung Rana. He further informed that Rajan Kumar and Madan Prasad Ghimire were sentenced to three years and six months in prison.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Morang Police had filed charge sheets against 77 people at the District Court, Morang on April 3, 2017, on charges of setting up and operating a criminal gang, trading gold illegally, involving in abduction, hostage-taking, and killing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Of the total defendants, 21 are still absconding. Rana said that the bench had adjourned the case in the name of the absconding people.</span></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 mastermind behind the gold scam is believed to be Chudamani Upreti aka Gore of Ulrabari, Morang, although high-profile police officers are also suspected to be involved in the scam. However, the police officers suspected of being involved in the case have been cleared due to lack of sufficient evidence to prove their guilt.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Former AIG Govinda Prasad Niraula, SSP Dibesh Lohani (now DIG), Shyam Bahadur Khatri, and Superintendent of Police (SP) Bikas Raj Khanal are among the police officers who were cleared by the court. Similarly, Deputy Superintendent of Police (DSP) Sanjay Raut, Prajit KC, Sub Inspector of Police (SI) Bal Krishna Sanjel, Head Constable Amar Bahadur Thapa Magar, and police constable Bishnu Khadka have also been cleared.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shakya was killed on March 3, 2017, after the gold smuggled from Dubai by Gore’s group disappeared. A video of Gore's direct involvement in the murder of gold smuggler Shakya was also made public by the police.</span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Police had recovered Shakya’s body from a vehicle (Ba 12 Cha 5963) in Biratnagar. At that time, Mohan Kafle, Tekraj Malla Thakuri, Narendra Karki, and Krishna were arrested. While investigating the case, the police were told that the group had smuggled 38 quintals of gold on different dates.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13835', 'image' => '20211006122610_court.jpg', 'article_date' => '2021-10-06 12:25:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14089', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Security Features of E-Passport', 'sub_title' => '', 'summary' => 'October 6: The government has endorsed security features to be included in the e-passport of the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The government has endorsed security features to be included in the e-passport of the country. A meeting of the Council of Ministers on Tuesday took a number of decisions including endorsement of security features for the e-passport, shared Minister for Law, Justice and Parliamentarian Affairs Gyanendra Bahadur Karki. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The biometric passport is equipped with an electronic microprocessor chip. According to Minister Karki, who is also the government's spokesperson, the government was also preparing to implement e-passport in the near future. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting also decided to approve the Employment permit system operation and management (first amendment) gudelines-2078 BS. Likewise, Joint-secretary Rabi Lal Pant was promoted to special class under the administrative service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint attorney Dr Gopichandra Bhattarai has been designated as the member of the Foreign Employment Tribunal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also formed a delegation that will be representing Nepal in the Commemorative High-Level Meeting of the Non-Aligned Movement to be held from October 10-14 later this year. Minister for Foreign Affairs Narayan Khadka will lead the Nepali delegation, shared Minister Karki. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13834', 'image' => '20211006081437_NewLogo.jpg', 'article_date' => '2021-10-06 08:14:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14088', 'article_category_id' => '1', 'title' => 'Seven Construction Companies Blacklisted ', 'sub_title' => '', 'summary' => 'October 6: The Public Procurement Monitoring Office has blacklisted seven construction companies. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The Public Procurement Monitoring Office has blacklisted seven construction companies. The office issued a notice on Tuesday informing that the companies were blacklisted because they failed to complete the projects as per the contract. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the notice, the office mentioned that they were blacklisted from one to three years effective from October 5. The decision to blacklist the companies was decided as per section 65 of the Public Procurement Act, 2063. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">MS Indo Engineering Project Corporation of Maharastra, India was blacklisted for three years as per the recommendation of the Project Directorate of the Department of Roads, Bishalnaghar. </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"">Similarly, upon the recommendation of Nagarjun Municipality, Land Ring Construction Service, Kathmandu has been blacklisted for two years. Other companies that were blacklisted for one year include Bipin Vet Centre, Kashyapati Construction Service, Rachana Trade International, Ninlantha Construction Service and Suppliers, and Adventure the Anand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The blacklisted companies would not be allowed to participate in the purchase and construction services called by the government. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13833', 'image' => '20211006080853_ppmo - Copy.jpg', 'article_date' => '2021-10-06 08:08:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14087', 'article_category_id' => '1', 'title' => 'Domestic Textile and Garment Industries Struggling to Compete with Imported Goods', 'sub_title' => '', 'summary' => 'October 5: The annual consumption of textiles in Nepal is around 1 billion meters, according to the textile industrialists.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Om Prakash Khanal</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: The annual consumption of textiles in Nepal is around 1 billion meters, according to the textile industrialists. However, an estimated 200 small and large domestic industries meet only 5 to 10 percent of this demand, while 900 million meters get imported from abroad.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Meanwhile, the industrialists also claim that only 10 percent of the imported garments come through formal channels, while 800 million meters come through unauthorized channels every year. Likewise, they inform that unauthorized import of Indian textiles is on the rise.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hence, the domestic textile industries are forced to settle for a 10 percent supply. Although textile production is a crucial opportunity for domestic producers, they are unable to increase their capacity as the market is dominated by external products.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Ramesh Gadiya claimed that the climate of the Terai region of Nepal is suitable for the textile industry. Although both the production and the market are favorable, the domestic industries have not been able to increase their investment due to unfavorable government policies.</span></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 industrialists claim that they can become self-reliant in textiles if the government gives policy protection to the textile industry. Gadia, who is also the executive director of Nobel Textiles, said investors did not want to increase investment in the textile industry due to the unstable 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"">Entrepreneurs understand that countries like the UK, China, and Bangladesh have moved ahead in industrial development by promoting the textile industry. Up to 90 percent subsidy has been allocated to the textile industry in India. Likewise, Chetan Gadiya argues that competition with subsidized Indian textiles has become challenging.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Until a few years ago, the government had given concession to the industry to refund value-added tax (VAT) on the sale of garments. There was a 70 percent VAT exemption on synthetic yarn and 100 percent on cotton yarn.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">This policy was removed from FY 2075/76. At that time, India reduced the Goods and Services Tax (GST) on textiles to 5 percent, increasing the number of Indian textiles entering Nepal's market.</span></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 textile industrialists had expressed their anxiety after the removal of VAT concession. The then Council of Ministers had given a 50 percent subsidy on electricity to quell the opposition of the entrepreneurs.</span></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 grant received in FY 2076/77 was removed in FY 2077/78. The Nepal Electricity Authority (NEA) had terminated the grant scheme stating that the decision of the Council of Ministers was not included in the previous year's budget.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hari Gautam, the coordinator of the Birgunj Chamber of Commerce and Industry, says that the textile industry has not been able to flourish due to the unstable policy of the government. "The government is working to demoralize the domestic industries," Gautam, who is also the union's vice-president, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The industrialists have suggested that the government should take a policy to facilitate the textile industry as the cost of the textile industry. According to Gadiya, the government should take a long-term policy of not collecting VAT from the textile and garment industries.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13832', 'image' => '20211005023706_1633397523.jpg', 'article_date' => '2021-10-05 14:35:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14086', 'article_category_id' => '1', 'title' => 'NIFRA to Support Special Economic Zones', 'sub_title' => '', 'summary' => 'October 5: The Special Economic Zone (SEZ) Authority has signed a Memorandum of Understanding (MoU) with Nepal Infrastructure Bank Limited to develop the Special Economic Zones under public private partnership model.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">October 5: The Special Economic Zone (SEZ) Authority has signed a Memorandum of Understanding (MoU) with Nepal Infrastructure Bank Limited to develop the Special Economic Zones under public private partnership model. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As per the understanding, the bank will assist the government authority to help develop the Special Economic Zones in Panchkhal and Bara (Block B and C).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A joint statement issued by the bank and SEZ Authority states that the bank will help in technical and financial analysis of SEZ, marketing, selection of developers, as well as make arrangements for investment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of the SEZ Authority Balaram Rijal and CEO of Nepal Infrastructure Bank Ram Krishna Khatiwada signed the agreement on behalf of their respective organisations amid a recent function.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13831', 'image' => '20211005023417_Untitled.jpg', 'article_date' => '2021-10-05 14:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14084', 'article_category_id' => '1', 'title' => 'Deposit Collection of Commercial Banks at a Record High', 'sub_title' => '', 'summary' => 'October 5: Deposit collection of commercial banks has reached an all-time high but the banks are still lacking lendable money. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: Deposit collection of commercial banks has reached an all-time high but the banks are still lacking lendable money. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Until the end of September, the total deposits of commercial banks reached Rs 421 billion, which is the highest so far. Banks had collected deposits of Rs 411 billion until mid-July. The deposit collection had declined with the start of the new fiscal year which now has reached a record high. Due to declining deposit collection, banks have been experiencing liquidity crunch since the beginning of the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"At present, the demand for loans is very high. So despite the increase in deposit collection, the problem of liquidity crunch still exists," informed Bhuwan Dahal, chairman of Nepal Bankers' Association. As the government has started spending, deposit collection of banks has started increasing. There has been a rise in the volume of remittances as well. Demand for loans is very high now. At the same time, the flow of credit has also increased. That is why the shortage of liquidity continues," Dahal said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The volume of imports is also increasing due to the festive season. Import is likely to further increase and in order to meet the increasing demand of import, the importers have been demanding more loan at the moment. As a result, liquidity crunch persists. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dahal says remittances will be a major means of managing liquidity. Remittance inflows have increased since last week. If the expected amount of remittances comes, the problem of liquidity shortage will be solved. </span></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 Dahal, with the increase in remittance inflow, the balance of payments and foreign exchange reserves will also improve. In that case it will be easier to review interest rates as well. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Deposits of Rs 38.12 billion have been collected in the last week alone which is the highest increase in a week. Banks had raised interest rates on deposits from September 17 due to lack of liquidity. However, deposit collection did not improve right after the increase in the interest rate. In that week only eight billion rupees of deposits had been collected. However in the next week, the deposit collection increased significantly. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Government spending is a major source of bank deposits. The government spending was halted until the third week of September as the replacement budget couldn't be passed in the parliament due to CPN-UML's obstruction. After the bill was passed, government started spending which resulted in a rise in the deposit collection.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Along with the deposit collection, loan disbursement has also increased. In the last week, banks have extended loans of Rs 39 billion. The overall lending of commercial banks has reached Rs 394 billion. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13829', 'image' => '20211005125536_20210427021438_20201216032922_20200419015315_bank-malware.jpg', 'article_date' => '2021-10-05 12:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14083', 'article_category_id' => '1', 'title' => 'Government Searching for New Labour Destinations', 'sub_title' => '', 'summary' => 'October 5: The government has started preparations to expand the labour market by identifying new labour destination countries for employment.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: The government has started preparations to expand the labour market by identifying new labour destination countries for employment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In order to make foreign employment safe, systematic and dignified, labour agreements with other destination countries have been initiated. According to the Ministry of Labour, Employment and Social Security, the process of labour agreement with Oman, the labour destination for Nepalese, has reached its final stage.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">For this, a draft agreement has been prepared and submitted to the Government of Oman. The ministry is ready to expedite the process of agreement with Oman by sending the draft to the Council of Ministers as soon as it is approved by Oman.</span></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 Labour Secretary Surya Prasad Gautam, the ministry is ready to complete the necessary preparations to send workers to the countries with which Nepal has signed labour agreements but has not been able to send workers due to technical issues. </span></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, labour agreements have been signed with nine countries including Qatar, the United Arab Emirates (UAE), Republic of Korea (South Korea), Bahrain, Japan, Israel, Jordan, Malaysia and Mauritius. Nepal first signed a labour agreement with Qatar in 2005. An agreement was reached with Japan in 2009 to send workers on the basis of Japan International Trainee and Skilled Worker Cooperation (JITCO) model. Despite the signing of a Memorandum of Cooperation (MoC) with Japan to re-employ workers with special skills in 2019, the agreement has not been implemented. The ministry said that the directive to send workers as per the agreement has not been finalized and is still being discussed.</span></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, agreements were signed with Bahrain in 2008, Jordan in 2017, Malaysia in 2018 and Mauritius in 2019. The ministry has started preparations to finalize the technical issues and send Nepalese to the countries where agreements have been reached but people have not been able to go. A joint programme was signed with Israel in 2015 to send Nepali workers into different sectors including agriculture. According to the Ministry of Labour, the process of taking workers as caregivers has already started in the first phase after the agreement.</span></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 Labour Secretary Gautam, Israel will take 1,000 workers in the first phase. For this, a roster of 1,600 workers has been prepared and sent. The agreement reached with the United Arab Emirates in 2007 was renewed in 2019. Initiatives are being taken to renew the 2007 labour agreement with South Korea. As the agreement with Korea is renewed every two and a half years, the agreement with South Korea will be renewed soon to cover the issues of workers' rights, said Labour Secretary Gautam. Labour expert Ganesh Gurung says the government has not been able to manage the foreign employment yet. According to him, the government has not been able to undertake result-oriented work in finding new labour destination countries.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13828', 'image' => '20211005120055_20201125033543_20200315123851_1111.jpg', 'article_date' => '2021-10-05 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14082', 'article_category_id' => '1', 'title' => '207 Pickpockets Nabbed ahead of Festivals in Kathmandu ', 'sub_title' => '', 'summary' => 'October 5: Police have arrested a total of 207 persons from the Kathmandu Valley on charge of theft and pickpocket. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Police have arrested a total of 207 persons from the Kathmandu Valley on charge of theft and pickpocket. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Metropolitan Police Range Kathmandu held the pickpockets from different parts of the valley under its campaign initiated against robbery and pick-pocketing ahead of the festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Metropolitan Police Range Kathmandu, Senior Superintendent of Police (SSP) Ashok Singh, said in a press conference on October 4 that the pick-pockets were arrested from public vehicles, shopping malls and main market areas for their alleged involvement in the pickpocket in the past 20 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the pickpockets were held red-handed by the police personnel deployed in plain clothes while stealing cash, mobile phones, jewelries and other goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the 207 arrestees, investigations have been initiated against 161 while 46 others have been sent to the custody after completing the investigation process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">SSP Singh said that police personnel were deployed in public vehicles in collaboration with the transport entrepreneurs. Police have also stated that the burglars were found to communicate in code language to rob people in public vehicles. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13827', 'image' => '20211005082424_pic.jpg', 'article_date' => '2021-10-05 08:23:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14081', 'article_category_id' => '1', 'title' => '58th Annual Report of Auditor General Tabled in National Assembly', 'sub_title' => '', 'summary' => 'October 5: The 58th annual report of the Auditor General has been tabled at a meeting of the National Assembly on Monday (October 4) amid protests from the main opposition party. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The 58th annual report of the Auditor General has been tabled at a meeting of the National Assembly on Monday (October 4) amid protests from the main opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs, Gyanendra Bahadur Karki, on behalf of Prime Minister Sher Bahadur Deuba, presented the annual report in the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting passed a proposal of sending Food Hygiene and Quality Bill-2077, Public Service Broadcasting Bill-2077, Archive Protection (first amendment) Bill-2077 and Security Printing Bill-2077 to Legislation Management Committee for clause-wise discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, NA Chairperson Ganesh Prasad Timilsina read out the letter sent from the office of the President regarding certification of bills and revocation of the ordinance related to political parties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The next meeting of NA has been scheduled for 2:00 pm on October 10. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13826', 'image' => '20211005081730_nepal-parliament-1491925922.jpg', 'article_date' => '2021-10-05 08:10:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14080', 'article_category_id' => '1', 'title' => 'Home Ministry forms Province-wise Teams for Monitoring during Festive Season ', 'sub_title' => '', 'summary' => 'October 5: The Ministry of Home Affairs has formed a province-wise monitoring team under the leadership of its joint-secretary to make market monitoring effective during the festive season.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Ministry of Home Affairs has formed a province-wise monitoring team under the leadership of its joint-secretary to make market monitoring effective during the festive season. </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 ministry, the monitoring teams have been formed in all seven provinces to immediately resolve the problems seen in the market during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The objective is to make the services related to security, supply, market management and transport convenient and accessible by intensifying monitoring during this period. <br /> The ministry's spokesperson Fanindra Mani Pokharel shared the concerned agencies are monitoring the market across the country so as to make the services related to security, transport, supply and market management convenient and effective as the grand festivals such as Dashain, Tihar and Chhath are just around the corner. <br /> Market monitoring is being undertaken under the coordination of Assistant Chief District Officer across the country. --RSS <br /> <br /> </span></span></span></p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13825', 'image' => '20211005080537_20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-10-05 08:05:01', '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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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">October 6: Associations of business and industries of the priavte sector of Nepal have expressed concerns regarding the delay in implementation of the US-funded Millennium Challenge Corporation (MCC) grant agreement signed with Nepal on September 14, 2017.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a joint statement on Wednesday (October 6), the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) urged all stakeholders to immediately endorse the grant agreement through the parliament considering the greater benefit of the country.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The private sector organisations argued that the country can attain high economic growth if the strategically important transmission lines and roads under the MCC project are completed on time. The statement noted that the country needs adequate amount of investment in the aftermath of the Covid-19 pandemic and the MCC offers the country an opportunity for investment as well as long-term development of transmission lines for exporting electricity at a time when the country’s economy is struggling due to the impact of the pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">Therefore, the private sector has urged all the political parties and other stakeholders to endorse the grant agreement without any further delay as it has already been four years since the agreement was signed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The press statement further said that the internal resources of the country has shrunk due to the impact of the pandemic while foreign assistanc has also not increased as expected. According to the statement, foreign investment in the first month of the current fiscal year has declined by 49 percent. In such a context, the US$ 500 million grant assistance from the USA would play a vital role in uplifting the country’s economy. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The statement also said that Nepal faces the prospect of wasting the electricity produced in the country due to the lack of transmission lines. On the other hand, poor roads have added to the industrial cost therby increasing the commercial price of products and reducing the competitiveness of the goods in the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:16.0pt"><span style="font-family:"Arial","sans-serif"">The joint statement also drew the attention that the MCC grant agreement must be implemented within five years of signing the agreement. It further said that the project is being implemebt in 30 nations across the world including in Latin America, Europe, Asia and Africa and expressed hope that it will be implemented in Nepal without any problem.</span></span></span></span></p> <p> </p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"> </span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-07', 'keywords' => '', 'description' => '', 'sortorder' => '13841', 'image' => '20211006043634_20201218014622_1608248580.11.jpg', 'article_date' => '2021-10-06 16:35:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14094', 'article_category_id' => '1', 'title' => 'NRB Issuing Rs 20 Billion Repo ', 'sub_title' => '', 'summary' => 'October 6: Nepal Rastra Bank (NRB) is issuing a repurchase agreement (repo) worth Rs 20 billion today (October 6). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Nepal Rastra Bank (NRB) is issuing a repurchase agreement (repo) worth Rs 20 billion today (October 6). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The bank is issuing the repo to prevent shortage of investment capital in banks and financial system. The repo will mature on October 19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB issues short-term repo if there is liquidity shortage in the banking system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before this, NRB had sent Rs 30 billion in market through repo. Banks and financial institutions use the repo, inter-bank lending and Standing Liquidity Facility (SLF) in case of liquidity crunch. - RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13840', 'image' => '20211006034834_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-10-06 15:47:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14093', 'article_category_id' => '1', 'title' => 'Government Fires SEBON Chairman Bhisma Dhungana', 'sub_title' => '', 'summary' => 'October 6: The government has fired chairman of Securities Board of Nepal (SEBON) Bhishma Raj Dhungana.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 6: The government has fired chairman of Securities Board of Nepal (SEBON) Bhishma Raj Dhungana, who was earlier suspended for his alleged involvement in illegal purchase of shares. A meeting of the Council of Ministers on Tuesday decided to fire Dhungana from his post.</span></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 former chairman is alleged to have purchased shares of Sarbottam Cement in the name of his daughter. He was asked to submit an explanation by the cabinet meeting held on September 27.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Although Dhungana submitted his explanation last Sunday, the government stated that his explanation was not satisfactory and proceeded with the dismissal. The government decided to dismiss him upon the suggestions of a committee formed to investigate the allegations of his involvement in insider trading.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">An investigation committee formed by the Ministry of Finance had submitted a report to the Finance Minister after he was found guilty.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a similar case, former chief executive officer of Nepal Stock Exchange Chandra Singh Saud, who was also involved in the purchase of share of the same company, resigned from his post to facilitate government investigation.</span></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 previous government led by KP Sharma Oli had appointed Dhungana as the chairman of the board for four years in January 2020.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sources say that the cabinet is yet to decide about appointment of a new chairman in place of Dhungana.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13839', 'image' => '20211006031548_20160922121316_sebon.jpg', 'article_date' => '2021-10-06 15:14:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14095', 'article_category_id' => '1', 'title' => 'Swiss Ambassador Discusses Possible Cooperation with Chamber of Industries Morang', 'sub_title' => '', 'summary' => 'October 6: Swiss Ambassador to Nepal Elisabeth von Capeller held discussions with Chamber of Industries Morang regarding possible cooperation in producing skilled manpower.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">October 6: Swiss Ambassador to Nepal Elisabeth von Capeller held discussions with Chamber of Industries Morang regarding possible cooperation in producing skilled manpower.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">During a meeting at the secretariat of the chamber on Monday, the two sides discussed wide range of issues such as trade relation between Nepal and Switzerland, prospects of investment, technology transfer as well as skill development programme organized by the chamber.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">After a presentation of the current programmes undertaken by the chamber, the Swiss ambassador said that the Swiss government expects similar kinds of programmes while working in collaboration with local organisations and added that she had never come across such excellent programmes in the last eight years. She also extended her best wishes for the programmes run by the chamber.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Chairman of the chamber Suyash Pyakural urged the Swiss ambassador to facilitate in bringing Swiss investment in Nepal and also to exchange knowledge and technology among the two countries.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13838', 'image' => '20211006040745_embastor pic.jpg', 'article_date' => '2021-10-06 16:06:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14092', 'article_category_id' => '1', 'title' => 'Finance Minister Points Out Frequent Changes in Policy as Development Bottleneck ', 'sub_title' => '', 'summary' => 'October 6: Finance Minister Janardan Sharma has said COVID-19 has impacted the entire economy, good governance and humanity as a whole. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: Finance Minister Janardan Sharma has said COVID-19 has impacted the entire economy, good governance and humanity as a whole. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting of Sustainable Development and Good Governance Committee of the National Assembly on Tuesday, October 5, the finance minister said that massive reform in development targets and plans was required to cope with the current situation resulting from COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Development strategy, setting goal and implementation in itself are contradictory. The trend of shift in plan and policy along with the change in government and ministers is a great challenge," the finance minister told the committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma also said that we lack a framework of socialism-oriented economy despite its provision in the Constitution while adding that such issues were not incorporated in our plans and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating that making self-reliant economy was the main goal of the present government, he argued that there was no other option than to move ahead by making fundamental policy on inclusive development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Auditor General Tanka Mani Sharma, Chief Secretary Shankar Das Bairagi, Financial Comptroller General Suman Raj Aryal and other high ranking government officials shared their opinions on government spending, auditing system and details of the government properties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the chairperson of the Upper House Committee Dinanath Sharma stressed the need for massive reform in government spending adding that unscrupulous spending has increased arrears in the state coffer. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13837', 'image' => '20211006123024_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-10-06 12:29:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14091', 'article_category_id' => '1', 'title' => 'Six including Gorey get Life Imprisonment in Gold Smuggling Scam ', 'sub_title' => '', 'summary' => 'October 6: The Morang District Court on Tuesday sentenced six people, including the main accused Chudamani Upreti aka Gore, to life imprisonment on charges of smuggling 33 kg of gold and killing Sanam Shakya of Urlabari.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 6: The Morang District Court on Tuesday sentenced six people, including the main accused Chudamani Upreti aka Gore, to life imprisonment on charges of smuggling 33 kg of gold and killing Sanam Shakya of Urlabari. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">District Court Judge Bharat Lamsal issued the verdict following the final hearing on the case. The court sentenced the six persons to life imprisonment, while one was slapped a jail-term of three years, and another person involved in the scam for six months.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The court sentenced Gore, Tekraj Malla Thakuri, Lakpa Sherpa, Mohan Kafle, Narendra Karki, and Bhojraj Bhandari to life imprisonment, said the court’s record keeper Tikendra Birjung Rana. He further informed that Rajan Kumar and Madan Prasad Ghimire were sentenced to three years and six months in prison.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Morang Police had filed charge sheets against 77 people at the District Court, Morang on April 3, 2017, on charges of setting up and operating a criminal gang, trading gold illegally, involving in abduction, hostage-taking, and killing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Of the total defendants, 21 are still absconding. Rana said that the bench had adjourned the case in the name of the absconding people.</span></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 mastermind behind the gold scam is believed to be Chudamani Upreti aka Gore of Ulrabari, Morang, although high-profile police officers are also suspected to be involved in the scam. However, the police officers suspected of being involved in the case have been cleared due to lack of sufficient evidence to prove their guilt.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Former AIG Govinda Prasad Niraula, SSP Dibesh Lohani (now DIG), Shyam Bahadur Khatri, and Superintendent of Police (SP) Bikas Raj Khanal are among the police officers who were cleared by the court. Similarly, Deputy Superintendent of Police (DSP) Sanjay Raut, Prajit KC, Sub Inspector of Police (SI) Bal Krishna Sanjel, Head Constable Amar Bahadur Thapa Magar, and police constable Bishnu Khadka have also been cleared.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shakya was killed on March 3, 2017, after the gold smuggled from Dubai by Gore’s group disappeared. A video of Gore's direct involvement in the murder of gold smuggler Shakya was also made public by the police.</span> </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Police had recovered Shakya’s body from a vehicle (Ba 12 Cha 5963) in Biratnagar. At that time, Mohan Kafle, Tekraj Malla Thakuri, Narendra Karki, and Krishna were arrested. While investigating the case, the police were told that the group had smuggled 38 quintals of gold on different dates.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13835', 'image' => '20211006122610_court.jpg', 'article_date' => '2021-10-06 12:25:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14089', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Security Features of E-Passport', 'sub_title' => '', 'summary' => 'October 6: The government has endorsed security features to be included in the e-passport of the country. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The government has endorsed security features to be included in the e-passport of the country. A meeting of the Council of Ministers on Tuesday took a number of decisions including endorsement of security features for the e-passport, shared Minister for Law, Justice and Parliamentarian Affairs Gyanendra Bahadur Karki. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The biometric passport is equipped with an electronic microprocessor chip. According to Minister Karki, who is also the government's spokesperson, the government was also preparing to implement e-passport in the near future. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the meeting also decided to approve the Employment permit system operation and management (first amendment) gudelines-2078 BS. Likewise, Joint-secretary Rabi Lal Pant was promoted to special class under the administrative service. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Joint attorney Dr Gopichandra Bhattarai has been designated as the member of the Foreign Employment Tribunal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also formed a delegation that will be representing Nepal in the Commemorative High-Level Meeting of the Non-Aligned Movement to be held from October 10-14 later this year. Minister for Foreign Affairs Narayan Khadka will lead the Nepali delegation, shared Minister Karki. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13834', 'image' => '20211006081437_NewLogo.jpg', 'article_date' => '2021-10-06 08:14:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14088', 'article_category_id' => '1', 'title' => 'Seven Construction Companies Blacklisted ', 'sub_title' => '', 'summary' => 'October 6: The Public Procurement Monitoring Office has blacklisted seven construction companies. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 6: The Public Procurement Monitoring Office has blacklisted seven construction companies. The office issued a notice on Tuesday informing that the companies were blacklisted because they failed to complete the projects as per the contract. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the notice, the office mentioned that they were blacklisted from one to three years effective from October 5. The decision to blacklist the companies was decided as per section 65 of the Public Procurement Act, 2063. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">MS Indo Engineering Project Corporation of Maharastra, India was blacklisted for three years as per the recommendation of the Project Directorate of the Department of Roads, Bishalnaghar. </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"">Similarly, upon the recommendation of Nagarjun Municipality, Land Ring Construction Service, Kathmandu has been blacklisted for two years. Other companies that were blacklisted for one year include Bipin Vet Centre, Kashyapati Construction Service, Rachana Trade International, Ninlantha Construction Service and Suppliers, and Adventure the Anand. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The blacklisted companies would not be allowed to participate in the purchase and construction services called by the government. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-06', 'modified' => '2021-10-06', 'keywords' => '', 'description' => '', 'sortorder' => '13833', 'image' => '20211006080853_ppmo - Copy.jpg', 'article_date' => '2021-10-06 08:08:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14087', 'article_category_id' => '1', 'title' => 'Domestic Textile and Garment Industries Struggling to Compete with Imported Goods', 'sub_title' => '', 'summary' => 'October 5: The annual consumption of textiles in Nepal is around 1 billion meters, according to the textile industrialists.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Om Prakash Khanal</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: The annual consumption of textiles in Nepal is around 1 billion meters, according to the textile industrialists. However, an estimated 200 small and large domestic industries meet only 5 to 10 percent of this demand, while 900 million meters get imported from abroad.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Meanwhile, the industrialists also claim that only 10 percent of the imported garments come through formal channels, while 800 million meters come through unauthorized channels every year. Likewise, they inform that unauthorized import of Indian textiles is on the rise.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hence, the domestic textile industries are forced to settle for a 10 percent supply. Although textile production is a crucial opportunity for domestic producers, they are unable to increase their capacity as the market is dominated by external products.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Ramesh Gadiya claimed that the climate of the Terai region of Nepal is suitable for the textile industry. Although both the production and the market are favorable, the domestic industries have not been able to increase their investment due to unfavorable government policies.</span></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 industrialists claim that they can become self-reliant in textiles if the government gives policy protection to the textile industry. Gadia, who is also the executive director of Nobel Textiles, said investors did not want to increase investment in the textile industry due to the unstable 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"">Entrepreneurs understand that countries like the UK, China, and Bangladesh have moved ahead in industrial development by promoting the textile industry. Up to 90 percent subsidy has been allocated to the textile industry in India. Likewise, Chetan Gadiya argues that competition with subsidized Indian textiles has become challenging.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Until a few years ago, the government had given concession to the industry to refund value-added tax (VAT) on the sale of garments. There was a 70 percent VAT exemption on synthetic yarn and 100 percent on cotton yarn.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">This policy was removed from FY 2075/76. At that time, India reduced the Goods and Services Tax (GST) on textiles to 5 percent, increasing the number of Indian textiles entering Nepal's market.</span></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 textile industrialists had expressed their anxiety after the removal of VAT concession. The then Council of Ministers had given a 50 percent subsidy on electricity to quell the opposition of the entrepreneurs.</span></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 grant received in FY 2076/77 was removed in FY 2077/78. The Nepal Electricity Authority (NEA) had terminated the grant scheme stating that the decision of the Council of Ministers was not included in the previous year's budget.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hari Gautam, the coordinator of the Birgunj Chamber of Commerce and Industry, says that the textile industry has not been able to flourish due to the unstable policy of the government. "The government is working to demoralize the domestic industries," Gautam, who is also the union's vice-president, told New Business Age.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The industrialists have suggested that the government should take a policy to facilitate the textile industry as the cost of the textile industry. According to Gadiya, the government should take a long-term policy of not collecting VAT from the textile and garment industries.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13832', 'image' => '20211005023706_1633397523.jpg', 'article_date' => '2021-10-05 14:35:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14086', 'article_category_id' => '1', 'title' => 'NIFRA to Support Special Economic Zones', 'sub_title' => '', 'summary' => 'October 5: The Special Economic Zone (SEZ) Authority has signed a Memorandum of Understanding (MoU) with Nepal Infrastructure Bank Limited to develop the Special Economic Zones under public private partnership model.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">October 5: The Special Economic Zone (SEZ) Authority has signed a Memorandum of Understanding (MoU) with Nepal Infrastructure Bank Limited to develop the Special Economic Zones under public private partnership model. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">As per the understanding, the bank will assist the government authority to help develop the Special Economic Zones in Panchkhal and Bara (Block B and C).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A joint statement issued by the bank and SEZ Authority states that the bank will help in technical and financial analysis of SEZ, marketing, selection of developers, as well as make arrangements for investment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Executive Director of the SEZ Authority Balaram Rijal and CEO of Nepal Infrastructure Bank Ram Krishna Khatiwada signed the agreement on behalf of their respective organisations amid a recent function.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13831', 'image' => '20211005023417_Untitled.jpg', 'article_date' => '2021-10-05 14:33:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14084', 'article_category_id' => '1', 'title' => 'Deposit Collection of Commercial Banks at a Record High', 'sub_title' => '', 'summary' => 'October 5: Deposit collection of commercial banks has reached an all-time high but the banks are still lacking lendable money. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: Deposit collection of commercial banks has reached an all-time high but the banks are still lacking lendable money. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Until the end of September, the total deposits of commercial banks reached Rs 421 billion, which is the highest so far. Banks had collected deposits of Rs 411 billion until mid-July. The deposit collection had declined with the start of the new fiscal year which now has reached a record high. Due to declining deposit collection, banks have been experiencing liquidity crunch since the beginning of the current fiscal year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"At present, the demand for loans is very high. So despite the increase in deposit collection, the problem of liquidity crunch still exists," informed Bhuwan Dahal, chairman of Nepal Bankers' Association. As the government has started spending, deposit collection of banks has started increasing. There has been a rise in the volume of remittances as well. Demand for loans is very high now. At the same time, the flow of credit has also increased. That is why the shortage of liquidity continues," Dahal said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The volume of imports is also increasing due to the festive season. Import is likely to further increase and in order to meet the increasing demand of import, the importers have been demanding more loan at the moment. As a result, liquidity crunch persists. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dahal says remittances will be a major means of managing liquidity. Remittance inflows have increased since last week. If the expected amount of remittances comes, the problem of liquidity shortage will be solved. </span></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 Dahal, with the increase in remittance inflow, the balance of payments and foreign exchange reserves will also improve. In that case it will be easier to review interest rates as well. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Deposits of Rs 38.12 billion have been collected in the last week alone which is the highest increase in a week. Banks had raised interest rates on deposits from September 17 due to lack of liquidity. However, deposit collection did not improve right after the increase in the interest rate. In that week only eight billion rupees of deposits had been collected. However in the next week, the deposit collection increased significantly. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Government spending is a major source of bank deposits. The government spending was halted until the third week of September as the replacement budget couldn't be passed in the parliament due to CPN-UML's obstruction. After the bill was passed, government started spending which resulted in a rise in the deposit collection.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Along with the deposit collection, loan disbursement has also increased. In the last week, banks have extended loans of Rs 39 billion. The overall lending of commercial banks has reached Rs 394 billion. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13829', 'image' => '20211005125536_20210427021438_20201216032922_20200419015315_bank-malware.jpg', 'article_date' => '2021-10-05 12:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14083', 'article_category_id' => '1', 'title' => 'Government Searching for New Labour Destinations', 'sub_title' => '', 'summary' => 'October 5: The government has started preparations to expand the labour market by identifying new labour destination countries for employment.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">October 5: The government has started preparations to expand the labour market by identifying new labour destination countries for employment.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In order to make foreign employment safe, systematic and dignified, labour agreements with other destination countries have been initiated. According to the Ministry of Labour, Employment and Social Security, the process of labour agreement with Oman, the labour destination for Nepalese, has reached its final stage.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">For this, a draft agreement has been prepared and submitted to the Government of Oman. The ministry is ready to expedite the process of agreement with Oman by sending the draft to the Council of Ministers as soon as it is approved by Oman.</span></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 Labour Secretary Surya Prasad Gautam, the ministry is ready to complete the necessary preparations to send workers to the countries with which Nepal has signed labour agreements but has not been able to send workers due to technical issues. </span></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, labour agreements have been signed with nine countries including Qatar, the United Arab Emirates (UAE), Republic of Korea (South Korea), Bahrain, Japan, Israel, Jordan, Malaysia and Mauritius. Nepal first signed a labour agreement with Qatar in 2005. An agreement was reached with Japan in 2009 to send workers on the basis of Japan International Trainee and Skilled Worker Cooperation (JITCO) model. Despite the signing of a Memorandum of Cooperation (MoC) with Japan to re-employ workers with special skills in 2019, the agreement has not been implemented. The ministry said that the directive to send workers as per the agreement has not been finalized and is still being discussed.</span></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, agreements were signed with Bahrain in 2008, Jordan in 2017, Malaysia in 2018 and Mauritius in 2019. The ministry has started preparations to finalize the technical issues and send Nepalese to the countries where agreements have been reached but people have not been able to go. A joint programme was signed with Israel in 2015 to send Nepali workers into different sectors including agriculture. According to the Ministry of Labour, the process of taking workers as caregivers has already started in the first phase after the agreement.</span></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 Labour Secretary Gautam, Israel will take 1,000 workers in the first phase. For this, a roster of 1,600 workers has been prepared and sent. The agreement reached with the United Arab Emirates in 2007 was renewed in 2019. Initiatives are being taken to renew the 2007 labour agreement with South Korea. As the agreement with Korea is renewed every two and a half years, the agreement with South Korea will be renewed soon to cover the issues of workers' rights, said Labour Secretary Gautam. Labour expert Ganesh Gurung says the government has not been able to manage the foreign employment yet. According to him, the government has not been able to undertake result-oriented work in finding new labour destination countries.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13828', 'image' => '20211005120055_20201125033543_20200315123851_1111.jpg', 'article_date' => '2021-10-05 12:00:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14082', 'article_category_id' => '1', 'title' => '207 Pickpockets Nabbed ahead of Festivals in Kathmandu ', 'sub_title' => '', 'summary' => 'October 5: Police have arrested a total of 207 persons from the Kathmandu Valley on charge of theft and pickpocket. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: Police have arrested a total of 207 persons from the Kathmandu Valley on charge of theft and pickpocket. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Metropolitan Police Range Kathmandu held the pickpockets from different parts of the valley under its campaign initiated against robbery and pick-pocketing ahead of the festivals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Metropolitan Police Range Kathmandu, Senior Superintendent of Police (SSP) Ashok Singh, said in a press conference on October 4 that the pick-pockets were arrested from public vehicles, shopping malls and main market areas for their alleged involvement in the pickpocket in the past 20 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the pickpockets were held red-handed by the police personnel deployed in plain clothes while stealing cash, mobile phones, jewelries and other goods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the 207 arrestees, investigations have been initiated against 161 while 46 others have been sent to the custody after completing the investigation process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">SSP Singh said that police personnel were deployed in public vehicles in collaboration with the transport entrepreneurs. Police have also stated that the burglars were found to communicate in code language to rob people in public vehicles. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13827', 'image' => '20211005082424_pic.jpg', 'article_date' => '2021-10-05 08:23:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14081', 'article_category_id' => '1', 'title' => '58th Annual Report of Auditor General Tabled in National Assembly', 'sub_title' => '', 'summary' => 'October 5: The 58th annual report of the Auditor General has been tabled at a meeting of the National Assembly on Monday (October 4) amid protests from the main opposition party. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The 58th annual report of the Auditor General has been tabled at a meeting of the National Assembly on Monday (October 4) amid protests from the main opposition party. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs, Gyanendra Bahadur Karki, on behalf of Prime Minister Sher Bahadur Deuba, presented the annual report in the meeting. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting passed a proposal of sending Food Hygiene and Quality Bill-2077, Public Service Broadcasting Bill-2077, Archive Protection (first amendment) Bill-2077 and Security Printing Bill-2077 to Legislation Management Committee for clause-wise discussion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, NA Chairperson Ganesh Prasad Timilsina read out the letter sent from the office of the President regarding certification of bills and revocation of the ordinance related to political parties. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The next meeting of NA has been scheduled for 2:00 pm on October 10. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13826', 'image' => '20211005081730_nepal-parliament-1491925922.jpg', 'article_date' => '2021-10-05 08:10:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14080', 'article_category_id' => '1', 'title' => 'Home Ministry forms Province-wise Teams for Monitoring during Festive Season ', 'sub_title' => '', 'summary' => 'October 5: The Ministry of Home Affairs has formed a province-wise monitoring team under the leadership of its joint-secretary to make market monitoring effective during the festive season.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">October 5: The Ministry of Home Affairs has formed a province-wise monitoring team under the leadership of its joint-secretary to make market monitoring effective during the festive season. </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 ministry, the monitoring teams have been formed in all seven provinces to immediately resolve the problems seen in the market during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The objective is to make the services related to security, supply, market management and transport convenient and accessible by intensifying monitoring during this period. <br /> The ministry's spokesperson Fanindra Mani Pokharel shared the concerned agencies are monitoring the market across the country so as to make the services related to security, transport, supply and market management convenient and effective as the grand festivals such as Dashain, Tihar and Chhath are just around the corner. <br /> Market monitoring is being undertaken under the coordination of Assistant Chief District Officer across the country. --RSS <br /> <br /> </span></span></span></p> ', 'published' => true, 'created' => '2021-10-05', 'modified' => '2021-10-05', 'keywords' => '', 'description' => '', 'sortorder' => '13825', 'image' => '20211005080537_20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-10-05 08:05:01', '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
