September 24: The Food Management and Trade Company (FMTC) has prevented the sale of 2000 quintals of rice being stored at Surkhet office of Karnali province suspecting officials of trying to sell damaged rice that was meant to be…
September 24: The Food Management and Trade Company (FMTC) has prevented the sale of 2000 quintals of rice being stored at Surkhet office of Karnali province suspecting officials of trying to sell damaged rice that was meant to be…
September 24: Home Minister Bal Krishna Khand has directed concerned officials to ensure prompt supply of daily essentials by curbing illegal activities during the festive…
September 24: A 'Passenger Help Desk' has been set up at the new bus park situated at Gongabu, Kathmandu.…
September 24: Thulo.com, an e-commerce market, and Enterprise for Management, Economic Reform and Gender Equality (Emerge) have launched Udhyami Utthan (UU) Online Shop (thulo.com/uu) under the project ‘Fostering Resilience of Women-led Business and Consumer’.…
September 24: Nepal Rastra Bank (NRB) has decided to issue a repurchase agreement (repo) worth Rs 30 billion to address the shortage of investment capital in banking and financial…
September 24: President Bidya Devi Bhandari has authenticated the ‘Appropriation Bill, 2078’ paving way for the government to spend the…
September 23: Banks have reduced the credit flow due to liquidity…
September 23: With the government's policy on importing sponge iron and billets through the replacement bill, iron rod manufacturers are expecting the investment in billet production to…
September 23: The Department of Transportation Management is preparing to open ticket booking for Dashain.…
September 23: Locals of Sankhuwasabha district have urged the Energy Minister to expedite the 1,061-megawatt Upper Arun Hydropower Project at the…
September 23: The Department of Commerce, Supplies and Consumer Protection has assured that the government has adequate stock of sugar required for the upcoming…
September 23: Farmers have expressed dissatisfaction over the minimum support price of paddy fixed by the government.…
September 23: The Asian Development Bank (ADB) has project a modest growth in Nepal’s economy for the upcoming fiscal year owing to the vaccination drive initiated by the…
…
September 22: Bhaktapur's Changunarayan Municipality has won the title of the world's 10th best municipality.…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 24: The Food Management and Trade Company (FMTC) has prevented the sale of 2000 quintals of rice being stored at Surkhet office of Karnali province suspecting officials of trying to sell damaged rice that was meant to be destroyed. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Besh Bahadur Thapa, head of the Surkhet Department of Food Technology and Quality Control, informed that FMTC has prevented the sale of 1,975 quintals of Basmati rice. The ban has been put on after the department and the District Administration Office inspected the store.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Thapa said that inspection was carried out when the department was notified about the rice, which was suggested to be destroyed by FMTC, of being sent to Karnali for sale. He further said that the department has been informed about the quality of the rice. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Since July 30, FMTC has been provided with only 2000 quintals of rice," said Binod Poudel, accounts assistant of FMTC. He said that they have also been consuming the same rice regularly. According to him, Kaushal Agro Rice Mill, Lahan packaged the rice on November 1, 2020.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13762', 'image' => '20210924123152_rice.jpg', 'article_date' => '2021-09-24 12:31:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14016', 'article_category_id' => '1', 'title' => 'Home Minister Directs to Ensure Smooth Supply of Essentials during Festive Season ', 'sub_title' => '', 'summary' => 'September 24: Home Minister Bal Krishna Khand has directed concerned officials to ensure prompt supply of daily essentials by curbing illegal activities during the festive season. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 24: Home Minister Bal Krishna Khand has directed concerned officials to ensure prompt supply of daily essentials by curbing illegal activities during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting at the Ministry on Thursday, Minister Khand drew the attention of the officials towards possible black marketing, sales of date expired goods and medicines, and asked the subordinate bodies to book the wrongdoers as per the law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“It is the state’s first priority to safeguard citizen’s life and work for their welfare. We are committed to meeting this responsibility,” the Minister told the officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumer rights activists, transport entrepreneurs, industrialists, government officials and security officials were present on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Khand also urged the businesspersons to sell huge quantity by making less profit in the festive season. He urged the transport entrepreneurs to become serious in reducing road accidents. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, he also assured to take initiatives to talk to the Prime Minister for the maintenance of roads that were damaged during the monsoon season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking at the programme, Home Secretary Tek Narayan Pandey cautioned the traders stating that public health should not be belittled through the market system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Secretary at the Ministry of Industry, Commerce and Supplies Dinesh Bhattarai said that the line agency officials have been instructed to take stern actions if the traders were found selling date expired goods. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13761', 'image' => '20210924121918_20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-09-24 12:18:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14015', 'article_category_id' => '1', 'title' => 'Passenger Help Desk Set Up at New Bus Park', 'sub_title' => '', 'summary' => 'September 24: A 'Passenger Help Desk' has been set up at the new bus park situated at Gongabu, Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 24: A 'Passenger Help Desk' has been set up at the new bus park situated at Gongabu, Kathmandu. With the objective of facilitating passengers for the upcoming festivals, the Metropolitan Traffic Police Division and Lhotse Multipurpose Pvt Ltd jointly set up the 'Passenger Help Desk'.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Engineer Deepak Kunwar, chairman of Lhotse Multipurpose Pvt Ltd, inaugurated the 'Passenger Help Desk' which started operation from Thursday, September 23. Speaking on the occasion, he said that since the new bus park is connected to all the provinces of the country, and the setting up of the ‘Passenger Help Desk’ would create an environment for passengers to travel comfortably, without the threat of theft and fraud.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Spokesperson of the MTPD, Superintendent of Police Sanjeev Sharma said that they would help in resolving any problem related to tickets for the festivals.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13760', 'image' => '20210924120144_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2021-09-24 12:00:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14014', 'article_category_id' => '1', 'title' => 'Online Shop Dedicated to Selling Products of Women Entrepreneurs Launched', 'sub_title' => '', 'summary' => 'September 24: Thulo.com, an e-commerce market, and Enterprise for Management, Economic Reform and Gender Equality (Emerge) have launched Udhyami Utthan (UU) Online Shop (thulo.com/uu) under the project ‘Fostering Resilience of Women-led Business and Consumer’. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">September 24: Thulo.com, an e-commerce market, and Enterprise for Management, Economic Reform and Gender Equality (Emerge) have launched Udhyami Utthan (UU) Online Shop (thulo.com/uu) under the project ‘Fostering Resilience of Women-led Business and Consumer’ as part of the Udhyami Utthan Campaign.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The project is supported by USAID’s Tayar Nepal - Improved Disaster Risk Management Project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the project officials, this shop is dedicated to selling and distributing products related to disaster risk reduction, disaster preparedness, response and recovery that are produced by women entrepreneurs from both formal and informal sectors, including home-based workers. The products are showcased under the categories shelter, health, wash, education, food, and feel-good products. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The online shop has urged everyone to join hands in supporting the women entrepreneurs by buying their products and also by providing them feedback. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“While you enjoy their wonderful products you would also be supporting them in their journey towards resilient entrepreneurship,” the online shop wrote on its website.</span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/udhyami-utthan-uu-header-banner%281%29.jpg" style="height:159px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13759', 'image' => '20210924113812_Untitled.jpg', 'article_date' => '2021-09-24 11:36:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14013', 'article_category_id' => '1', 'title' => 'Central Bank Issues Repo worth Rs 30 Billion', 'sub_title' => '', 'summary' => 'September 24: Nepal Rastra Bank (NRB) has decided to issue a repurchase agreement (repo) worth Rs 30 billion to address the shortage of investment capital in banking and financial system.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 24: Nepal Rastra Bank (NRB) has decided to issue a repurchase agreement (repo) worth Rs 30 billion to address the shortage of investment capital in banking and financial system. The central bank said in a statement that it is issuing the repo for seven days starting from September 23. The repo will mature on September 30. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB issues short-term repo if there is liquidity crunch in the banking system. Commercial banks, development banks and financial institutions can buy the repo through tender bids. Before this, NRB had provided the money through repo of Rs 20 billion for a period of seven days on September 2, as well as Rs 30 billion for a period of 14 days on September 9 and Rs 20 billion for a period of one week on September 16. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Banks and financial institutions use the repo, inter-bank lending and the Standing Liquidity Facility (SLF) in case of liquidity crunch. It is found that banks and financial institutions are not getting the inter-bank lending due to the shortage of liquidity. They have been regularly taking SLF. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB data shows that the banks and financial institutions have raised Rs 409.56 billion through SLF as of Wednesday (September 22) in the current fiscal year starting mid-July. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">BFIs raised Rs 27.24 billion through SLF for 12 times on Wednesday alone, as per the NRB data. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13758', 'image' => '20210924101845_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-09-24 10:17:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14012', 'article_category_id' => '1', 'title' => 'President Authenticates Appropriation Bill', 'sub_title' => '', 'summary' => 'September 24: President Bidya Devi Bhandari has authenticated the ‘Appropriation Bill, 2078’ paving way for the government to spend the budget.', 'content' => '<p><em>Office of the President. Photo Courtesy: Government of Nepal</em></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"">September 24: President Bidya Devi Bhandari has authenticated the ‘Appropriation Bill, 2078’ paving way for the government to spend the budget.</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"">According to the Office of the President, the bill passed from the Federal Parliament was authenticated on Thursday (September 23) as per Article 113 (2) of the Constitution.</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"">Speaker Agni Prasad Sapkota had sent the bill to the Office of the President for authentication after it was passed by both the lower and upper houses of parliament. </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"">The country had witnessed a ‘budget holiday' since last week when the parliament was not able to pass the bill due to obstruction created by the main opposition party CPN-UML.</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"">The House of Representatives later passed the ‘Appropriation Bill’ on September 20 while the National Assembly had passed the bill Thursday itself. With the authentication of the bill, the government now can spend budget from the state coffers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13757', 'image' => '20210924095324_Sheetal-Niwas-1-scaled-1536x700 - Copy.jpg', 'article_date' => '2021-09-24 09:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14011', 'article_category_id' => '1', 'title' => 'Banks Tightening Credit Flow due to Liquidity Crunch', 'sub_title' => '', 'summary' => 'September 23: Banks have reduced the credit flow due to liquidity crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: Banks have reduced the credit flow due to liquidity crisis. Since the beginning of the current fiscal year, the banking sector has been experiencing a liquidity crunch. Lately, this problem has intensified due to various reasons. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Anil Keshari Shah, Chief Executive Officer (CEO) of Nabil Bank, said banks are reducing the credit flow to manage liquidity. “Credit that has been extended is also being provided at a higher interest rate,” said Shah.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shah said that it could impact on the overall economic growth rate. "Increase in credit flow is the driving force of economic growth. However, due to lack of liquidity, we are reducing the credit expansion. In this case, the economic growth rate may also be affected which we should be prepared for." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Liquidity crunch is caused due to multiple factors. Banks are also said to be one of the factors responsible for creating liquidity crunch. Excessive credit flow in the last fiscal year has affected the state of liquidity this year. Nepal Rastra Bank scrapped the CCD ratio and implemented CD ratio which has also affected liquidity. While implementing this provision, the average CD ratio was around ninety one percent. Shortage of liquidity occurred while maintaining CD ratio at the specified limit. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">However, the major reason behind the liquidity crunch is the government's inability to spend the budget. "Government spending is not the key to liquidity management. But, we are looking for the day when the government starts to spend. We are exploring other options as well,” said Shah. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government has not been able to spend the budget due to the replacement bill introduced by the government. Budget spending is the main source of banking liquidity. Liquidity crunch has arised as the budget has not been spent for the last two months 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"">Banks have increased interest rates on deposits to 10 percent to address the liquidity problem. Nepal Rastra Bank has also been managing liquidity for the banks using financial market instruments. NRB has provided Rs 100 billion through the repo system. It is releasing additional Rs 30 billion in the market. Yet, it is still challenging to address the liquidity problem, according to bankers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif""> "It will be resolved in due course of time but is certain to create some fluctuations in the interest rate," said Shah. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Anraj Bhattarai, an expert on banking, said the liquidity problem is short-lived. "The current liquidity crunch will not last for a long time. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB can easily address this issue by making some policy changes. However, banks have reacted unnecessarily by increasing interest rates. “This issue might be addressed through the first quarterly review of monetary policy," added Bhattarai.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said the CD ratio should be further clarified through the first quarterly review of monetary policy. “At present, Rs 152 billion credit has been extended in foreign currency. If such loans are not counted in the CD ratio, liquidity of Rs 152 billion would be available."</span></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 central bank should also introduce a flexible policy applicable for banks to invest in the stock market. "Banks are not allowed to sell their shares for one year. As a result, Rs 70-80 billion invested by banks in the stock market can't be used for the time being which should be addressed by the central bank," he said .</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13756', 'image' => '20210923032045_202011230546n.jpg', 'article_date' => '2021-09-23 15:19:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14010', 'article_category_id' => '1', 'title' => 'New Tax Policy likely to Increase Investment in Billet Production ', 'sub_title' => '', 'summary' => 'September 23: With the government's policy on importing sponge iron and billets through the replacement bill, iron rod manufacturers are expecting the investment in billet production to increase.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: With the government's policy on importing sponge iron and billets through the replacement bill, iron rod manufacturers are expecting the investment in billet production to increase. However, some entrepreneurs are trying to revoke this decision. The entrepreneurs are divided in two groups, one against the new policy and another in favour of it. After the announcement of the zero-tariff rate on sponge iron, home-grown industrialists have decided to add investment to expand the capacity of the billet industry in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Nepal has the capacity to produce 1.46 million metric tons of billets annually, while the demand is 1.2 million metric tons per year. Iron rod companies do not produce even 50 percent of their capacity because it is cheaper to make rods from sponge iron and billets imported from India. At present, industries are producing billets at only 30 percent capacity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Chairman of Saurabh Group, Vishnu Neupane, says that the company is preparing to expand its production capacity and provide rods to the consumers at affordable prices. According to him, there are 12 such industries now and Rs 6 billion to Rs 10 billion will be invested in the billet industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">After the introduction of zero customs duty on sponge iron import, its import will become cheaper, and billet production in the country will be initially less by Rs 3 per kg and Rs 5 per kg in the long-term, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At present, the factory price of the rod is Rs 85 per kg, but the market price is Rs 95 per kg, according to producers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Currently, the production of billets in Nepal is not as much as the production capacity. The government has decided that these industries will now run at full capacity," Neupane 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"">With this decision, the capacity to produce billets will increase, and the investment too will rise immediately, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Producers have been divided into two groups after the customs duty on sponge iron was reduced to zero. Demanding that the government's decision be revoked, the dissident group has now stopped the import of billets.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhruva Kumar Shrestha, the vice-chairman of Panchakanya Group, said that 24 industries have not brought any raw material so far and this will reduce the revenue collection of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"After raising the excise duty, there is no question of importing raw materials," said Shrestha. Production of billets from sponge iron will pollute the environment. He claims that making a rod from a sponge and scrub is not enough as it does not give strength. This problem, which has been seen among businessmen since the start of the construction season, has also raised concerns over the availability of construction materials.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">.</span></strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13755', 'image' => '20210923023456_ms-plate-500x500.jpg', 'article_date' => '2021-09-23 14:33:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14009', 'article_category_id' => '1', 'title' => 'DoTM Preparing to Open Advance Booking of Tickets for Dashain', 'sub_title' => '', 'summary' => 'September 23: The Department of Transportation Management is preparing to open ticket booking for Dashain. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: The Department of Transportation Management is preparing to open ticket booking for Dashain. The department called the members of the National Federation of Nepali Transport Entrepreneurs on Thursday to discuss about advance ticket booking.</span></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 department has been issuing advance tickets every year as the number of people leaving the Kathmandu Valley to their villages increases uncontrollably during the Dashain festival. About 2 million people leave Kathmandu every year. But last year, only 500,000 people bought tickets due to the threat of Covid-19 infection. The actual number is believed to be around 800,000 since the transport entrepreneurs were suspected of carrying more passengers than the number of seats.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Despite the threat of Covid-19 infection, the number of people leaving Kathmandu for Dashain this year is expected to double than that of last year, according to Loknath Bhusal, spokesperson for the department.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"We have summoned the businessmen and the Traffic Police Division to the department on Thursday to discuss the issue of advance ticket booking," he said, “Preparations are being made to open advance booking of tickets within the last week of September as the number of passengers is sure to increase.” </span></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 Department had called the representative of the Federation and the Chief of the Metropolitan Traffic Division, SSP Janak Bhattarai in order to request the advance ticket booking from August 26 itself. But the federation was reluctant to open the advance ticket immediately saying that they should discuss with the entrepreneurs first.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government has increased the fare for long distance route by 28 percent since July 13. As a result, the passengers travelling this year will have to pay the increased fare. Saroj Sitaula, General Secretary of the federation, said that the businessmen are preparing to open advance tickets with additional fare. "After having discussions with the department, the date for opening the ticket booking would be fixed," said Sitaula.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13754', 'image' => '20210923020436_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2021-09-23 14:03:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14008', 'article_category_id' => '1', 'title' => 'Locals Assure Full Cooperation for Upper Arun Hydropower Project ', 'sub_title' => '', 'summary' => 'September 23: Locals of Sankhuwasabha district have urged the Energy Minister to expedite the 1,061-megawatt Upper Arun Hydropower Project at the earliest. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 23: Locals of Sankhuwasabha district have urged the Energy Minister to expedite the 1,061-megawatt Upper Arun Hydropower Project at the earliest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The half-reservoir hydropower project is likely to be constructed at Chonggrak of Bhotekhola Rural Municipality-4 in Sankhuwasabha district. A high-level team led by Minister for Energy, Water Resources and Irrigation Pampha Bhusal had visited the construction site on Wednesday (September 22) when the locals made such request. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals have assured full cooperation to the team comprising representatives from the Ministry of Finance, World Bank and secretaries of the concerned ministries for the construction of the hydro power project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A stakeholder forum's chair Ladar Bhote said that they were eager to use the electricity produced by the project in their soil. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">"We are hopeful that the project would bring about good changes in the locality. The health and education sector are likely to undergo reforms due to the project," said Bhote, pledging utmost cooperation from their side for the project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhusal, in response, said the project would be constructed once they conclude a detail study of the project that was underway and discussion on investment modality that was also in the offing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She assured that the locals would be benefitted from the Upper Arun Hydro Power Project and called for their cooperation for the project which she claimed to be a 'game-changer'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Electricity Authority's auxiliary company Arun Hyrdo Electric Company has been entrusted with the responsibility to construct the project where the general public will have 49 per cent shares. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> For the investment, discussions are being held with the World Bank and the European Union for loan in subsidized rate while the Citizen’s Investment Trust, Employees Provident Fund are also the likely investors for the project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal government, provincial government and the local government will also invest in the semi-storage project which is expected to generate over 4.5 billion units of electricity annually. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Bank is expected to provide over US$ 13.1 million loan at subsidized rate for the project. The project is expected to commence within 2023 and will most likely be completed by 2030. The project requires 180 hectares of land and is said to displace a total of 25 households. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The visiting team included secretary at the Ministry of Energy, Water Resources and Irrigation Devendra Karki, Secretary at the Ministry of Finance Madhu Kumar Marasini, World Bank's vice chairperson for South Asia region Hartwig Schafer, World Bank's executive director Mohd Hassan among others. The team also inspected the site where the main physical structure and power production house would be built. --RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13753', 'image' => '20210923010717_upper arun.jpg', 'article_date' => '2021-09-23 13:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14007', 'article_category_id' => '1', 'title' => 'Government Claims it has Adequate Stock of Sugar for 3 Months ', 'sub_title' => '', 'summary' => 'September 23: The Department of Commerce, Supplies and Consumer Protection has assured that the government has adequate stock of sugar required for the upcoming festivals.', '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 Unicode MS","sans-serif"">September 23: The Department of Commerce, Supplies and Consumer Protection has assured that the government has adequate stock of sugar required for the upcoming festivals. The announcement was made amid concerns that the government has not approved purchase of sugar since the last eight months. </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 Unicode MS","sans-serif"">The department has stated that it has enough stock of sugar for three months. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Wednesday, the department urging the consumers not to be concerned about this matter as there is sufficient stock of sugar in the market. </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 Unicode MS","sans-serif"">"There is no reason for consumers to be concerned as process of importing sugar is regular and there is enough sugar in the market,” the statement said.</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 Unicode MS","sans-serif"">The department also urged the consumers not to stockpile sugar unnecessarily. </span></span><br /> <span style="font-size:14.0pt">Earlier, it was reported that the two state-owned companies – Salt Trading Corporation and Food Management and Trading Company Limited – that have been selling sugar at subsidized rate do not have enough stock of sugar for the festive season. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">This had raised concerns that the traders might increase the price of sugar at their will taking advantage of such situation.</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 Unicode MS","sans-serif"">However, the department has also cautioned businessmen against creating artificial shortage of sugar and has warned of action in line with the Consumer Protection Act, 2075 BS and Rules, 2076 BS if anyone is found guilty of being involved in such act. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13752', 'image' => '20210923123254_20210917104641_20210511045157_20201220120511_Sweet2.jpg', 'article_date' => '2021-09-23 12:32:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14006', 'article_category_id' => '1', 'title' => 'Farmers Unhappy with the Minimum Support Price of Rice fixed by the Government ', 'sub_title' => '', 'summary' => 'September 23: Farmers have expressed dissatisfaction over the minimum support price of paddy fixed by the government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 23: Farmers have expressed dissatisfaction over the minimum support price of paddy fixed by the government. They argued that the minimum support price is too less compared to increase in price of chemical fertilizer, seeds, agricultural tools and equipment and the wages of the labourers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock Development said in a statement that the minimum support price was fixed by the cabinet meeting held on September 14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the price of coarse paddy has been fixed at Rs 2,752 per quintal and medium variety at Rs 2,902 per quintal for 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:"Arial Unicode MS","sans-serif"">Although the new support price is more by Rs 17 per quintal than last year, the farmers are unhappy in the current context of inflation and price hike. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Last year, coarse paddy was priced at Rs 2,735 per quintal and medium variety paddy at Rs 2,885 per quintal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has been fixing the minimum support price of coarse and medium variety of paddy every year arguing that the entrepreneurs will buy paddy at arbitrary price if the price is not fixed on time. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the National Farmers Commission Dr Prem Dangal expressed dissatisfaction regarding the minimum support price fixed by the government arguing that the government should have taken into consideration the factors such as the increase in prices of fertilizer, seeds, agricultural equipment and labour charge while fixing the support price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the farmers will have to bear loss due to the government’s decision which was taken without considering the price hike of basic necessities required for agriculture.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">“The government has already fixe the support price. Now it has to pay attention toward implementing the support price,” said Dr Dangal, adding, “The government must consider the investment made by the farmers while determining the support price in the future.”</span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13751', 'image' => '20210923105350_1632346780.jpg', 'article_date' => '2021-09-23 10:53:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14005', 'article_category_id' => '1', 'title' => 'Nepal’s Economy to Modestly Grow in FY2022', 'sub_title' => '', 'summary' => 'September 23: The Asian Development Bank (ADB) has project a modest growth in Nepal’s economy for the upcoming fiscal year owing to the vaccination drive initiated by the government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">September 23: The Asian Development Bank (ADB) has project a modest growth in Nepal’s economy for the upcoming fiscal year owing to the vaccination drive initiated by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the Asian Development Outlook (ADO) 2021 Update, a flagship publication of the ADB, Nepal’s economy is anticipated to grow by 4.1 percent (at market prices) in fiscal year (FY) 2022, up from an estimated growth of 2.3 percent in FY2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">ADB’s Country Director for Nepal Arnaud Cauchois said in a statement that the growth will largely be supported by the ongoing vaccination campaign against COVID-19 as the national immunization plan remains key to Nepal’s economic recovery.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">“Downside risks include the uncertain trajectory of COVID-19, a possible surge in COVID-19 cases, and subsequent strict containment measures, which could reverse the gradual economic recovery in FY2021,” he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the report, growth in Nepal’s agriculture will likely be boosted by increased paddy plantation amid abundant rainfall this monsoon season. Industry output is expected to grow, thanks to a large increase in export volume and stronger domestic demand, as rollout of the national vaccination plan will reduce infection rates over time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The government’s fiscal policy for 2022 largely focuses on strengthening the nation’s health care system. Monetary policy will remain accommodative through a dedicated refinancing facility, concessional lending for priority projects and for affected businesses, the statement further said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the report, growth in services will accelerate because of increased economic activities in the wholesale and retail trade, transport, and financial services along with the vaccine rollout nationwide. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">“International tourism arrivals, which declined by 80.8 percent in 2020, may gradually recover, as trekking routes and expeditions resume. Hotels and restaurants, travel, and tourism will likely take more time to recover to pre-pandemic level until the sustained containment of COVID-19.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The report says the country’s inflation will rise modestly to 5.2 percent in FY2022, up from the projected 3.6 percent in FY2021, due to higher global oil prices and a gradual recovery in domestic demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">Growth in non-oil imports will likely remain high in FY2022, as investments rise on the gradual revival of the economy. On the other hand, growth in oil imports may be slow, because an increase in hydroelectricity generation may partially offset a rise in fossil fuel consumption. Even with continued strong growth in exports and remittances, the current account deficit will remain high, at an estimated 5.0 percent of GDP, though down from 8.0 percent a year earlier, says the report.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">Other downside risks include natural hazards such as erratic monsoons and floods, which could reduce farm output and damage infrastructure. Heavy rainfall since mid-June 2021 has triggered landslides and floods and led to the loss of lives and livelihoods in some mountainous districts of Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The report says fiscal spending by provincial and local governments can be improved if they address the persistent capacity deficiencies in investment planning, financial management, project readiness, procurement, and contract management.</span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/139441-nepal-01-01.jpg" style="height:576px; width:1024px" /></p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13750', 'image' => '20210923101741_ccd-1477540727.jpg', 'article_date' => '2021-09-23 10:16:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14004', 'article_category_id' => '1', 'title' => 'Why Indian Embargo of 2015 Differs from Previous Ones?', 'sub_title' => '', 'summary' => '', 'content' => '<p><em>This file photo shows a human chain formed to protest the unofficial blockade imposed by India on Nepal in 2015. Photo: NBA Files</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Birat Anupam</span></span></strong><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: September 23 marks the sixth anniversary of 6-month-long Indian embargo starting from September 23, 2015. Indian blockades are not a new phenomenon in Nepal's living and institutional memories. If history is any indication, Nepal is prone to periodic Indian blockade just because of its land-locked nature and mainly due to India-dependent trade and transit status. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal faced Indian blockade in 1962, 1971, 1989 and 2015. The military blockade of 2005 is also mentionable. However, this blockade was mainly on military fronts where India ceased its treaty-driven mandatory military supplies to Nepal Army, which was officially called Royal Nepalese Army during those days. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">However, the Indian trade embargo of 2015 is different from all other periodic Indian embargoes. Here are the reasons. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Trade embargo against the promulgation of Nepal's constitution</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">For the first time in the Nepal's history of seven written constitutions, the Constitution of 2015 was the only one written by people’s representatives. The 601-member Constituent Assembly was sovereign to draft and promulgate Nepal's constitution. CA promulgated the historic constitution on 20 September 2015. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Foreign Secretary Subrahmanyam Jaishankar, now the Indian Foreign Minister, landed in Kathmandu on 18 September to persuade Nepal's leaders to delay constitution promulgation and include Indian inputs, Nepali leaders denied and promulgated the charter on the stated date of 20 September by overwhelmingly two-thirds majority of the Constituent Assembly. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Sushil Koirala, the then PM, led this historic constitutional consensus among Nepal's major political players to promulgate Nepal's historic constitution. In a recently unveiled political document in his party meeting, Chair of CPN (UML) and former PM KP sharma Oli said Jaishankar 'threatened' Nepali leaders to delay the constitution. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It did not take more than three days for Nepal to feel the Indian trade embargo. India, however, while reacting on the newly promulgated constitution of 2015, had hinted on possible embargo. It had issued an official statement that cautioned, ''We are concerned that the situation in several parts of the country bordering India continues to be violent.'' True to the cautionary call, India imposed trade embargo on Nepal. India said the protesters along India-Nepal borders were the reason for the cross-border trade and transport disruption. The fact was that even those peaceful border crossings like Kakarbhitta did not see much imports compared to normal days. Only occasional nonessential stuffs were allowed to enter via regulated peaceful border crossings. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">First Indian embargo in non-monarchial era </span></span></strong><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">All previous Indian embargoes imposed on Nepal happened during active monarchial system. For example, when Jawaharlal Nehru imposed embargo on Nepal in 1962 during the reign of King Mahendra. Nehru's daughter Indira Gandhi did the same in 1971 when the same King was ruling Nepal. In 1989, Indian PM was Rajeev Gandhi, the son of Indira Gandhi, and Nepal's King was Birendra. Likewise, in 2005 military embargo, Nepal's last King Gyanendra was directly ruling Nepal. The embargo of 2015 is the only economic blockade where there was no king at the helm of Nepal. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">No Chinese factor associated during embargo</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">In almost all embargoes in Nepal, Indian establishment has pinpointed Chinese factor for its action. For example, in 1962, India was 'not happy' as Nepal and China were working to construct Araniko Highway connecting Nepal's capital Kathmandu and China's autonomous province of Tibet. In 1971, Nepal removed India's wireless operator from Nepal's northern borders with China. In 1989, Nepal imported anti-aircraft guns from China. Even in 2005 military embargo against the then King Gyanendra's direct rule, the king was largely portrayed as pro-China by Indian establishment. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Dawn of Nepal's opening up with China in terms of TTA</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Despite having direct roadways connecting Nepal and China since 1967, Nepal never inked any Transit Trade Agreement (TTA). Interestingly, after Indian embargo of 2015, Nepal inked TTA with China with legal access to seven sea and dry ports of China. This was inked during state visit of KP Sharma Oli on 21 March 2016. Oli and his Chinese counterpart Li Keqiang inked the deal. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The TTA protocol was also signed during second tenure of KP Oli's premiership on 29 April 2019 during the state visit of Nepal's President Bidya Devi Bhandari to China in presence of her Chinese counterpart Xi Jinping. Nepal's Foreign Minister Pradeep Kumar Gyawali and China's Transport Minister Li Xiaopeng. TTA gave Nepal alternative avenues for its international trade and transit via Chinese seas and ports. This will help, say observers and experts, cope up possible Indian embargos in the future. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">India stood supportive after 2015 blockade for trade and transit</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Indian officials essentially denied embargo on Nepal. However, at Rajya Sabha debate, Indian MPs pressed then External Affairs Minister Sushma Swaraj about embargo on Nepal. In that debate, on 7 December 2015, Swaraj indirectly confessed Indian embargo. She said, ''Even in times of Rajeev Gandhi, there was embargo on Nepal.'' </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">On positivity, India changed its track for better after 2015 embargo; it was ready to let Nepal use additional Indian ports. Previously, Nepal used to import/export via Haldia port of Kolkata only. After Oli's six-day state visit to India from February 19 to 24 of 2016, India agreed to give Nepal an access to the Visakhapatnam port of Andhra Pradesh of India. The business from that port began since October that year. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It speeded construction of 69-kilometer-long petroleum pipeline from Bihar to Nepal's Amlekhganj. A total of 36-kilometer portion of this pipeline falls within Nepal. Nepal's PM Oli and his Indian counterpart Narendra Modi virtually inaugurated this on 10 September 2019. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><em><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">(This article is a </span></span></em><em><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">special feature prepared by the state-owned national news agency RSS on sixth anniversary of India-imposed blockade)</span></span></em></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13749', 'image' => '20210922041002_20151201011250_embargo.jpg', 'article_date' => '2021-09-22 16:08:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14003', 'article_category_id' => '1', 'title' => 'Changunarayan wins Title of World's Best 10 City on Open Data Practice ', 'sub_title' => '', 'summary' => 'September 22: Bhaktapur's Changunarayan Municipality has won the title of the world's 10th best municipality. ', 'content' => '<p><em>Changunarayan Temple of Changunarayan Municipality, Bhaktapur. Photo Courtesy: Oriental Architecture</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: Bhaktapur's Changunarayan Municipality has won the title of the world's 10th best municipality. The municipality has been rated as the best performer in the Open City Incubator programme run under the New York University School of Engineering of the US. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Changunarayan's Information Technology Officer Siddhant Neupane shared that the municipality was so far the first local level of Nepal to win such title. Neupane is also the first-ever participant to take part in the city incubator programme from the municipalities of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chungunarayan was selected as the 10th best cities of the world in the evaluation of data management practices and open data system, informed the municipality’s mayor Som Prasad Mishra. He further shared that Changunarayan's information technology officer Neupane participated in the programme on behalf of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mishra claimed that the municipality had attained the position for developing the first-of-its-kind open data platform in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The cities and municipalities that were selected in the incubator programme would get an opportunity to take part in a training to be delivered by prominent data expert in coming six months and prepare their data related activities and programme in line with international standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The announcement of the best municipalities was made at a virtual programme held in New York on Monday, Neupane shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Open Data Incubator Programme official commented that the thoughts and actions of Changunaryan, a municipality of a developing country like Nepal, has inspired all people working in this sector. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13748', 'image' => '20210922035232_changu-narayan_temple_BIG.jpg', 'article_date' => '2021-09-22 15:50:45', '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:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 24: The Food Management and Trade Company (FMTC) has prevented the sale of 2000 quintals of rice being stored at Surkhet office of Karnali province suspecting officials of trying to sell damaged rice that was meant to be destroyed. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Besh Bahadur Thapa, head of the Surkhet Department of Food Technology and Quality Control, informed that FMTC has prevented the sale of 1,975 quintals of Basmati rice. The ban has been put on after the department and the District Administration Office inspected the store.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Thapa said that inspection was carried out when the department was notified about the rice, which was suggested to be destroyed by FMTC, of being sent to Karnali for sale. He further said that the department has been informed about the quality of the rice. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Since July 30, FMTC has been provided with only 2000 quintals of rice," said Binod Poudel, accounts assistant of FMTC. He said that they have also been consuming the same rice regularly. According to him, Kaushal Agro Rice Mill, Lahan packaged the rice on November 1, 2020.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13762', 'image' => '20210924123152_rice.jpg', 'article_date' => '2021-09-24 12:31:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14016', 'article_category_id' => '1', 'title' => 'Home Minister Directs to Ensure Smooth Supply of Essentials during Festive Season ', 'sub_title' => '', 'summary' => 'September 24: Home Minister Bal Krishna Khand has directed concerned officials to ensure prompt supply of daily essentials by curbing illegal activities during the festive season. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 24: Home Minister Bal Krishna Khand has directed concerned officials to ensure prompt supply of daily essentials by curbing illegal activities during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting at the Ministry on Thursday, Minister Khand drew the attention of the officials towards possible black marketing, sales of date expired goods and medicines, and asked the subordinate bodies to book the wrongdoers as per the law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“It is the state’s first priority to safeguard citizen’s life and work for their welfare. We are committed to meeting this responsibility,” the Minister told the officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumer rights activists, transport entrepreneurs, industrialists, government officials and security officials were present on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Khand also urged the businesspersons to sell huge quantity by making less profit in the festive season. He urged the transport entrepreneurs to become serious in reducing road accidents. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, he also assured to take initiatives to talk to the Prime Minister for the maintenance of roads that were damaged during the monsoon season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking at the programme, Home Secretary Tek Narayan Pandey cautioned the traders stating that public health should not be belittled through the market system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Secretary at the Ministry of Industry, Commerce and Supplies Dinesh Bhattarai said that the line agency officials have been instructed to take stern actions if the traders were found selling date expired goods. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13761', 'image' => '20210924121918_20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-09-24 12:18:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14015', 'article_category_id' => '1', 'title' => 'Passenger Help Desk Set Up at New Bus Park', 'sub_title' => '', 'summary' => 'September 24: A 'Passenger Help Desk' has been set up at the new bus park situated at Gongabu, Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 24: A 'Passenger Help Desk' has been set up at the new bus park situated at Gongabu, Kathmandu. With the objective of facilitating passengers for the upcoming festivals, the Metropolitan Traffic Police Division and Lhotse Multipurpose Pvt Ltd jointly set up the 'Passenger Help Desk'.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Engineer Deepak Kunwar, chairman of Lhotse Multipurpose Pvt Ltd, inaugurated the 'Passenger Help Desk' which started operation from Thursday, September 23. Speaking on the occasion, he said that since the new bus park is connected to all the provinces of the country, and the setting up of the ‘Passenger Help Desk’ would create an environment for passengers to travel comfortably, without the threat of theft and fraud.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Spokesperson of the MTPD, Superintendent of Police Sanjeev Sharma said that they would help in resolving any problem related to tickets for the festivals.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13760', 'image' => '20210924120144_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2021-09-24 12:00:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14014', 'article_category_id' => '1', 'title' => 'Online Shop Dedicated to Selling Products of Women Entrepreneurs Launched', 'sub_title' => '', 'summary' => 'September 24: Thulo.com, an e-commerce market, and Enterprise for Management, Economic Reform and Gender Equality (Emerge) have launched Udhyami Utthan (UU) Online Shop (thulo.com/uu) under the project ‘Fostering Resilience of Women-led Business and Consumer’. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">September 24: Thulo.com, an e-commerce market, and Enterprise for Management, Economic Reform and Gender Equality (Emerge) have launched Udhyami Utthan (UU) Online Shop (thulo.com/uu) under the project ‘Fostering Resilience of Women-led Business and Consumer’ as part of the Udhyami Utthan Campaign.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The project is supported by USAID’s Tayar Nepal - Improved Disaster Risk Management Project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the project officials, this shop is dedicated to selling and distributing products related to disaster risk reduction, disaster preparedness, response and recovery that are produced by women entrepreneurs from both formal and informal sectors, including home-based workers. The products are showcased under the categories shelter, health, wash, education, food, and feel-good products. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The online shop has urged everyone to join hands in supporting the women entrepreneurs by buying their products and also by providing them feedback. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“While you enjoy their wonderful products you would also be supporting them in their journey towards resilient entrepreneurship,” the online shop wrote on its website.</span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/udhyami-utthan-uu-header-banner%281%29.jpg" style="height:159px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13759', 'image' => '20210924113812_Untitled.jpg', 'article_date' => '2021-09-24 11:36:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14013', 'article_category_id' => '1', 'title' => 'Central Bank Issues Repo worth Rs 30 Billion', 'sub_title' => '', 'summary' => 'September 24: Nepal Rastra Bank (NRB) has decided to issue a repurchase agreement (repo) worth Rs 30 billion to address the shortage of investment capital in banking and financial system.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 24: Nepal Rastra Bank (NRB) has decided to issue a repurchase agreement (repo) worth Rs 30 billion to address the shortage of investment capital in banking and financial system. The central bank said in a statement that it is issuing the repo for seven days starting from September 23. The repo will mature on September 30. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB issues short-term repo if there is liquidity crunch in the banking system. Commercial banks, development banks and financial institutions can buy the repo through tender bids. Before this, NRB had provided the money through repo of Rs 20 billion for a period of seven days on September 2, as well as Rs 30 billion for a period of 14 days on September 9 and Rs 20 billion for a period of one week on September 16. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Banks and financial institutions use the repo, inter-bank lending and the Standing Liquidity Facility (SLF) in case of liquidity crunch. It is found that banks and financial institutions are not getting the inter-bank lending due to the shortage of liquidity. They have been regularly taking SLF. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB data shows that the banks and financial institutions have raised Rs 409.56 billion through SLF as of Wednesday (September 22) in the current fiscal year starting mid-July. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">BFIs raised Rs 27.24 billion through SLF for 12 times on Wednesday alone, as per the NRB data. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13758', 'image' => '20210924101845_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-09-24 10:17:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14012', 'article_category_id' => '1', 'title' => 'President Authenticates Appropriation Bill', 'sub_title' => '', 'summary' => 'September 24: President Bidya Devi Bhandari has authenticated the ‘Appropriation Bill, 2078’ paving way for the government to spend the budget.', 'content' => '<p><em>Office of the President. Photo Courtesy: Government of Nepal</em></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"">September 24: President Bidya Devi Bhandari has authenticated the ‘Appropriation Bill, 2078’ paving way for the government to spend the budget.</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"">According to the Office of the President, the bill passed from the Federal Parliament was authenticated on Thursday (September 23) as per Article 113 (2) of the Constitution.</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"">Speaker Agni Prasad Sapkota had sent the bill to the Office of the President for authentication after it was passed by both the lower and upper houses of parliament. </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"">The country had witnessed a ‘budget holiday' since last week when the parliament was not able to pass the bill due to obstruction created by the main opposition party CPN-UML.</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"">The House of Representatives later passed the ‘Appropriation Bill’ on September 20 while the National Assembly had passed the bill Thursday itself. With the authentication of the bill, the government now can spend budget from the state coffers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13757', 'image' => '20210924095324_Sheetal-Niwas-1-scaled-1536x700 - Copy.jpg', 'article_date' => '2021-09-24 09:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14011', 'article_category_id' => '1', 'title' => 'Banks Tightening Credit Flow due to Liquidity Crunch', 'sub_title' => '', 'summary' => 'September 23: Banks have reduced the credit flow due to liquidity crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: Banks have reduced the credit flow due to liquidity crisis. Since the beginning of the current fiscal year, the banking sector has been experiencing a liquidity crunch. Lately, this problem has intensified due to various reasons. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Anil Keshari Shah, Chief Executive Officer (CEO) of Nabil Bank, said banks are reducing the credit flow to manage liquidity. “Credit that has been extended is also being provided at a higher interest rate,” said Shah.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shah said that it could impact on the overall economic growth rate. "Increase in credit flow is the driving force of economic growth. However, due to lack of liquidity, we are reducing the credit expansion. In this case, the economic growth rate may also be affected which we should be prepared for." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Liquidity crunch is caused due to multiple factors. Banks are also said to be one of the factors responsible for creating liquidity crunch. Excessive credit flow in the last fiscal year has affected the state of liquidity this year. Nepal Rastra Bank scrapped the CCD ratio and implemented CD ratio which has also affected liquidity. While implementing this provision, the average CD ratio was around ninety one percent. Shortage of liquidity occurred while maintaining CD ratio at the specified limit. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">However, the major reason behind the liquidity crunch is the government's inability to spend the budget. "Government spending is not the key to liquidity management. But, we are looking for the day when the government starts to spend. We are exploring other options as well,” said Shah. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government has not been able to spend the budget due to the replacement bill introduced by the government. Budget spending is the main source of banking liquidity. Liquidity crunch has arised as the budget has not been spent for the last two months 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"">Banks have increased interest rates on deposits to 10 percent to address the liquidity problem. Nepal Rastra Bank has also been managing liquidity for the banks using financial market instruments. NRB has provided Rs 100 billion through the repo system. It is releasing additional Rs 30 billion in the market. Yet, it is still challenging to address the liquidity problem, according to bankers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif""> "It will be resolved in due course of time but is certain to create some fluctuations in the interest rate," said Shah. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Anraj Bhattarai, an expert on banking, said the liquidity problem is short-lived. "The current liquidity crunch will not last for a long time. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB can easily address this issue by making some policy changes. However, banks have reacted unnecessarily by increasing interest rates. “This issue might be addressed through the first quarterly review of monetary policy," added Bhattarai.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said the CD ratio should be further clarified through the first quarterly review of monetary policy. “At present, Rs 152 billion credit has been extended in foreign currency. If such loans are not counted in the CD ratio, liquidity of Rs 152 billion would be available."</span></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 central bank should also introduce a flexible policy applicable for banks to invest in the stock market. "Banks are not allowed to sell their shares for one year. As a result, Rs 70-80 billion invested by banks in the stock market can't be used for the time being which should be addressed by the central bank," he said .</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13756', 'image' => '20210923032045_202011230546n.jpg', 'article_date' => '2021-09-23 15:19:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14010', 'article_category_id' => '1', 'title' => 'New Tax Policy likely to Increase Investment in Billet Production ', 'sub_title' => '', 'summary' => 'September 23: With the government's policy on importing sponge iron and billets through the replacement bill, iron rod manufacturers are expecting the investment in billet production to increase.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: With the government's policy on importing sponge iron and billets through the replacement bill, iron rod manufacturers are expecting the investment in billet production to increase. However, some entrepreneurs are trying to revoke this decision. The entrepreneurs are divided in two groups, one against the new policy and another in favour of it. After the announcement of the zero-tariff rate on sponge iron, home-grown industrialists have decided to add investment to expand the capacity of the billet industry in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Nepal has the capacity to produce 1.46 million metric tons of billets annually, while the demand is 1.2 million metric tons per year. Iron rod companies do not produce even 50 percent of their capacity because it is cheaper to make rods from sponge iron and billets imported from India. At present, industries are producing billets at only 30 percent capacity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Chairman of Saurabh Group, Vishnu Neupane, says that the company is preparing to expand its production capacity and provide rods to the consumers at affordable prices. According to him, there are 12 such industries now and Rs 6 billion to Rs 10 billion will be invested in the billet industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">After the introduction of zero customs duty on sponge iron import, its import will become cheaper, and billet production in the country will be initially less by Rs 3 per kg and Rs 5 per kg in the long-term, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At present, the factory price of the rod is Rs 85 per kg, but the market price is Rs 95 per kg, according to producers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Currently, the production of billets in Nepal is not as much as the production capacity. The government has decided that these industries will now run at full capacity," Neupane 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"">With this decision, the capacity to produce billets will increase, and the investment too will rise immediately, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Producers have been divided into two groups after the customs duty on sponge iron was reduced to zero. Demanding that the government's decision be revoked, the dissident group has now stopped the import of billets.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhruva Kumar Shrestha, the vice-chairman of Panchakanya Group, said that 24 industries have not brought any raw material so far and this will reduce the revenue collection of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"After raising the excise duty, there is no question of importing raw materials," said Shrestha. Production of billets from sponge iron will pollute the environment. He claims that making a rod from a sponge and scrub is not enough as it does not give strength. This problem, which has been seen among businessmen since the start of the construction season, has also raised concerns over the availability of construction materials.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">.</span></strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13755', 'image' => '20210923023456_ms-plate-500x500.jpg', 'article_date' => '2021-09-23 14:33:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14009', 'article_category_id' => '1', 'title' => 'DoTM Preparing to Open Advance Booking of Tickets for Dashain', 'sub_title' => '', 'summary' => 'September 23: The Department of Transportation Management is preparing to open ticket booking for Dashain. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: The Department of Transportation Management is preparing to open ticket booking for Dashain. The department called the members of the National Federation of Nepali Transport Entrepreneurs on Thursday to discuss about advance ticket booking.</span></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 department has been issuing advance tickets every year as the number of people leaving the Kathmandu Valley to their villages increases uncontrollably during the Dashain festival. About 2 million people leave Kathmandu every year. But last year, only 500,000 people bought tickets due to the threat of Covid-19 infection. The actual number is believed to be around 800,000 since the transport entrepreneurs were suspected of carrying more passengers than the number of seats.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Despite the threat of Covid-19 infection, the number of people leaving Kathmandu for Dashain this year is expected to double than that of last year, according to Loknath Bhusal, spokesperson for the department.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"We have summoned the businessmen and the Traffic Police Division to the department on Thursday to discuss the issue of advance ticket booking," he said, “Preparations are being made to open advance booking of tickets within the last week of September as the number of passengers is sure to increase.” </span></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 Department had called the representative of the Federation and the Chief of the Metropolitan Traffic Division, SSP Janak Bhattarai in order to request the advance ticket booking from August 26 itself. But the federation was reluctant to open the advance ticket immediately saying that they should discuss with the entrepreneurs first.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government has increased the fare for long distance route by 28 percent since July 13. As a result, the passengers travelling this year will have to pay the increased fare. Saroj Sitaula, General Secretary of the federation, said that the businessmen are preparing to open advance tickets with additional fare. "After having discussions with the department, the date for opening the ticket booking would be fixed," said Sitaula.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13754', 'image' => '20210923020436_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2021-09-23 14:03:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14008', 'article_category_id' => '1', 'title' => 'Locals Assure Full Cooperation for Upper Arun Hydropower Project ', 'sub_title' => '', 'summary' => 'September 23: Locals of Sankhuwasabha district have urged the Energy Minister to expedite the 1,061-megawatt Upper Arun Hydropower Project at the earliest. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 23: Locals of Sankhuwasabha district have urged the Energy Minister to expedite the 1,061-megawatt Upper Arun Hydropower Project at the earliest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The half-reservoir hydropower project is likely to be constructed at Chonggrak of Bhotekhola Rural Municipality-4 in Sankhuwasabha district. A high-level team led by Minister for Energy, Water Resources and Irrigation Pampha Bhusal had visited the construction site on Wednesday (September 22) when the locals made such request. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals have assured full cooperation to the team comprising representatives from the Ministry of Finance, World Bank and secretaries of the concerned ministries for the construction of the hydro power project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A stakeholder forum's chair Ladar Bhote said that they were eager to use the electricity produced by the project in their soil. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">"We are hopeful that the project would bring about good changes in the locality. The health and education sector are likely to undergo reforms due to the project," said Bhote, pledging utmost cooperation from their side for the project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhusal, in response, said the project would be constructed once they conclude a detail study of the project that was underway and discussion on investment modality that was also in the offing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She assured that the locals would be benefitted from the Upper Arun Hydro Power Project and called for their cooperation for the project which she claimed to be a 'game-changer'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Electricity Authority's auxiliary company Arun Hyrdo Electric Company has been entrusted with the responsibility to construct the project where the general public will have 49 per cent shares. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> For the investment, discussions are being held with the World Bank and the European Union for loan in subsidized rate while the Citizen’s Investment Trust, Employees Provident Fund are also the likely investors for the project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal government, provincial government and the local government will also invest in the semi-storage project which is expected to generate over 4.5 billion units of electricity annually. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Bank is expected to provide over US$ 13.1 million loan at subsidized rate for the project. The project is expected to commence within 2023 and will most likely be completed by 2030. The project requires 180 hectares of land and is said to displace a total of 25 households. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The visiting team included secretary at the Ministry of Energy, Water Resources and Irrigation Devendra Karki, Secretary at the Ministry of Finance Madhu Kumar Marasini, World Bank's vice chairperson for South Asia region Hartwig Schafer, World Bank's executive director Mohd Hassan among others. The team also inspected the site where the main physical structure and power production house would be built. --RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13753', 'image' => '20210923010717_upper arun.jpg', 'article_date' => '2021-09-23 13:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14007', 'article_category_id' => '1', 'title' => 'Government Claims it has Adequate Stock of Sugar for 3 Months ', 'sub_title' => '', 'summary' => 'September 23: The Department of Commerce, Supplies and Consumer Protection has assured that the government has adequate stock of sugar required for the upcoming festivals.', '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 Unicode MS","sans-serif"">September 23: The Department of Commerce, Supplies and Consumer Protection has assured that the government has adequate stock of sugar required for the upcoming festivals. The announcement was made amid concerns that the government has not approved purchase of sugar since the last eight months. </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 Unicode MS","sans-serif"">The department has stated that it has enough stock of sugar for three months. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Wednesday, the department urging the consumers not to be concerned about this matter as there is sufficient stock of sugar in the market. </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 Unicode MS","sans-serif"">"There is no reason for consumers to be concerned as process of importing sugar is regular and there is enough sugar in the market,” the statement said.</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 Unicode MS","sans-serif"">The department also urged the consumers not to stockpile sugar unnecessarily. </span></span><br /> <span style="font-size:14.0pt">Earlier, it was reported that the two state-owned companies – Salt Trading Corporation and Food Management and Trading Company Limited – that have been selling sugar at subsidized rate do not have enough stock of sugar for the festive season. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">This had raised concerns that the traders might increase the price of sugar at their will taking advantage of such situation.</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 Unicode MS","sans-serif"">However, the department has also cautioned businessmen against creating artificial shortage of sugar and has warned of action in line with the Consumer Protection Act, 2075 BS and Rules, 2076 BS if anyone is found guilty of being involved in such act. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13752', 'image' => '20210923123254_20210917104641_20210511045157_20201220120511_Sweet2.jpg', 'article_date' => '2021-09-23 12:32:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14006', 'article_category_id' => '1', 'title' => 'Farmers Unhappy with the Minimum Support Price of Rice fixed by the Government ', 'sub_title' => '', 'summary' => 'September 23: Farmers have expressed dissatisfaction over the minimum support price of paddy fixed by the government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 23: Farmers have expressed dissatisfaction over the minimum support price of paddy fixed by the government. They argued that the minimum support price is too less compared to increase in price of chemical fertilizer, seeds, agricultural tools and equipment and the wages of the labourers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock Development said in a statement that the minimum support price was fixed by the cabinet meeting held on September 14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the price of coarse paddy has been fixed at Rs 2,752 per quintal and medium variety at Rs 2,902 per quintal for 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:"Arial Unicode MS","sans-serif"">Although the new support price is more by Rs 17 per quintal than last year, the farmers are unhappy in the current context of inflation and price hike. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Last year, coarse paddy was priced at Rs 2,735 per quintal and medium variety paddy at Rs 2,885 per quintal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has been fixing the minimum support price of coarse and medium variety of paddy every year arguing that the entrepreneurs will buy paddy at arbitrary price if the price is not fixed on time. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the National Farmers Commission Dr Prem Dangal expressed dissatisfaction regarding the minimum support price fixed by the government arguing that the government should have taken into consideration the factors such as the increase in prices of fertilizer, seeds, agricultural equipment and labour charge while fixing the support price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the farmers will have to bear loss due to the government’s decision which was taken without considering the price hike of basic necessities required for agriculture.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">“The government has already fixe the support price. Now it has to pay attention toward implementing the support price,” said Dr Dangal, adding, “The government must consider the investment made by the farmers while determining the support price in the future.”</span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13751', 'image' => '20210923105350_1632346780.jpg', 'article_date' => '2021-09-23 10:53:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14005', 'article_category_id' => '1', 'title' => 'Nepal’s Economy to Modestly Grow in FY2022', 'sub_title' => '', 'summary' => 'September 23: The Asian Development Bank (ADB) has project a modest growth in Nepal’s economy for the upcoming fiscal year owing to the vaccination drive initiated by the government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">September 23: The Asian Development Bank (ADB) has project a modest growth in Nepal’s economy for the upcoming fiscal year owing to the vaccination drive initiated by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the Asian Development Outlook (ADO) 2021 Update, a flagship publication of the ADB, Nepal’s economy is anticipated to grow by 4.1 percent (at market prices) in fiscal year (FY) 2022, up from an estimated growth of 2.3 percent in FY2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">ADB’s Country Director for Nepal Arnaud Cauchois said in a statement that the growth will largely be supported by the ongoing vaccination campaign against COVID-19 as the national immunization plan remains key to Nepal’s economic recovery.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">“Downside risks include the uncertain trajectory of COVID-19, a possible surge in COVID-19 cases, and subsequent strict containment measures, which could reverse the gradual economic recovery in FY2021,” he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the report, growth in Nepal’s agriculture will likely be boosted by increased paddy plantation amid abundant rainfall this monsoon season. Industry output is expected to grow, thanks to a large increase in export volume and stronger domestic demand, as rollout of the national vaccination plan will reduce infection rates over time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The government’s fiscal policy for 2022 largely focuses on strengthening the nation’s health care system. Monetary policy will remain accommodative through a dedicated refinancing facility, concessional lending for priority projects and for affected businesses, the statement further said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the report, growth in services will accelerate because of increased economic activities in the wholesale and retail trade, transport, and financial services along with the vaccine rollout nationwide. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">“International tourism arrivals, which declined by 80.8 percent in 2020, may gradually recover, as trekking routes and expeditions resume. Hotels and restaurants, travel, and tourism will likely take more time to recover to pre-pandemic level until the sustained containment of COVID-19.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The report says the country’s inflation will rise modestly to 5.2 percent in FY2022, up from the projected 3.6 percent in FY2021, due to higher global oil prices and a gradual recovery in domestic demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">Growth in non-oil imports will likely remain high in FY2022, as investments rise on the gradual revival of the economy. On the other hand, growth in oil imports may be slow, because an increase in hydroelectricity generation may partially offset a rise in fossil fuel consumption. Even with continued strong growth in exports and remittances, the current account deficit will remain high, at an estimated 5.0 percent of GDP, though down from 8.0 percent a year earlier, says the report.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">Other downside risks include natural hazards such as erratic monsoons and floods, which could reduce farm output and damage infrastructure. Heavy rainfall since mid-June 2021 has triggered landslides and floods and led to the loss of lives and livelihoods in some mountainous districts of Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The report says fiscal spending by provincial and local governments can be improved if they address the persistent capacity deficiencies in investment planning, financial management, project readiness, procurement, and contract management.</span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/139441-nepal-01-01.jpg" style="height:576px; width:1024px" /></p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13750', 'image' => '20210923101741_ccd-1477540727.jpg', 'article_date' => '2021-09-23 10:16:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14004', 'article_category_id' => '1', 'title' => 'Why Indian Embargo of 2015 Differs from Previous Ones?', 'sub_title' => '', 'summary' => '', 'content' => '<p><em>This file photo shows a human chain formed to protest the unofficial blockade imposed by India on Nepal in 2015. Photo: NBA Files</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Birat Anupam</span></span></strong><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: September 23 marks the sixth anniversary of 6-month-long Indian embargo starting from September 23, 2015. Indian blockades are not a new phenomenon in Nepal's living and institutional memories. If history is any indication, Nepal is prone to periodic Indian blockade just because of its land-locked nature and mainly due to India-dependent trade and transit status. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal faced Indian blockade in 1962, 1971, 1989 and 2015. The military blockade of 2005 is also mentionable. However, this blockade was mainly on military fronts where India ceased its treaty-driven mandatory military supplies to Nepal Army, which was officially called Royal Nepalese Army during those days. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">However, the Indian trade embargo of 2015 is different from all other periodic Indian embargoes. Here are the reasons. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Trade embargo against the promulgation of Nepal's constitution</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">For the first time in the Nepal's history of seven written constitutions, the Constitution of 2015 was the only one written by people’s representatives. The 601-member Constituent Assembly was sovereign to draft and promulgate Nepal's constitution. CA promulgated the historic constitution on 20 September 2015. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Foreign Secretary Subrahmanyam Jaishankar, now the Indian Foreign Minister, landed in Kathmandu on 18 September to persuade Nepal's leaders to delay constitution promulgation and include Indian inputs, Nepali leaders denied and promulgated the charter on the stated date of 20 September by overwhelmingly two-thirds majority of the Constituent Assembly. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Sushil Koirala, the then PM, led this historic constitutional consensus among Nepal's major political players to promulgate Nepal's historic constitution. In a recently unveiled political document in his party meeting, Chair of CPN (UML) and former PM KP sharma Oli said Jaishankar 'threatened' Nepali leaders to delay the constitution. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It did not take more than three days for Nepal to feel the Indian trade embargo. India, however, while reacting on the newly promulgated constitution of 2015, had hinted on possible embargo. It had issued an official statement that cautioned, ''We are concerned that the situation in several parts of the country bordering India continues to be violent.'' True to the cautionary call, India imposed trade embargo on Nepal. India said the protesters along India-Nepal borders were the reason for the cross-border trade and transport disruption. The fact was that even those peaceful border crossings like Kakarbhitta did not see much imports compared to normal days. Only occasional nonessential stuffs were allowed to enter via regulated peaceful border crossings. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">First Indian embargo in non-monarchial era </span></span></strong><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">All previous Indian embargoes imposed on Nepal happened during active monarchial system. For example, when Jawaharlal Nehru imposed embargo on Nepal in 1962 during the reign of King Mahendra. Nehru's daughter Indira Gandhi did the same in 1971 when the same King was ruling Nepal. In 1989, Indian PM was Rajeev Gandhi, the son of Indira Gandhi, and Nepal's King was Birendra. Likewise, in 2005 military embargo, Nepal's last King Gyanendra was directly ruling Nepal. The embargo of 2015 is the only economic blockade where there was no king at the helm of Nepal. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">No Chinese factor associated during embargo</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">In almost all embargoes in Nepal, Indian establishment has pinpointed Chinese factor for its action. For example, in 1962, India was 'not happy' as Nepal and China were working to construct Araniko Highway connecting Nepal's capital Kathmandu and China's autonomous province of Tibet. In 1971, Nepal removed India's wireless operator from Nepal's northern borders with China. In 1989, Nepal imported anti-aircraft guns from China. Even in 2005 military embargo against the then King Gyanendra's direct rule, the king was largely portrayed as pro-China by Indian establishment. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Dawn of Nepal's opening up with China in terms of TTA</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Despite having direct roadways connecting Nepal and China since 1967, Nepal never inked any Transit Trade Agreement (TTA). Interestingly, after Indian embargo of 2015, Nepal inked TTA with China with legal access to seven sea and dry ports of China. This was inked during state visit of KP Sharma Oli on 21 March 2016. Oli and his Chinese counterpart Li Keqiang inked the deal. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The TTA protocol was also signed during second tenure of KP Oli's premiership on 29 April 2019 during the state visit of Nepal's President Bidya Devi Bhandari to China in presence of her Chinese counterpart Xi Jinping. Nepal's Foreign Minister Pradeep Kumar Gyawali and China's Transport Minister Li Xiaopeng. TTA gave Nepal alternative avenues for its international trade and transit via Chinese seas and ports. This will help, say observers and experts, cope up possible Indian embargos in the future. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">India stood supportive after 2015 blockade for trade and transit</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Indian officials essentially denied embargo on Nepal. However, at Rajya Sabha debate, Indian MPs pressed then External Affairs Minister Sushma Swaraj about embargo on Nepal. In that debate, on 7 December 2015, Swaraj indirectly confessed Indian embargo. She said, ''Even in times of Rajeev Gandhi, there was embargo on Nepal.'' </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">On positivity, India changed its track for better after 2015 embargo; it was ready to let Nepal use additional Indian ports. Previously, Nepal used to import/export via Haldia port of Kolkata only. After Oli's six-day state visit to India from February 19 to 24 of 2016, India agreed to give Nepal an access to the Visakhapatnam port of Andhra Pradesh of India. The business from that port began since October that year. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It speeded construction of 69-kilometer-long petroleum pipeline from Bihar to Nepal's Amlekhganj. A total of 36-kilometer portion of this pipeline falls within Nepal. Nepal's PM Oli and his Indian counterpart Narendra Modi virtually inaugurated this on 10 September 2019. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><em><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">(This article is a </span></span></em><em><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">special feature prepared by the state-owned national news agency RSS on sixth anniversary of India-imposed blockade)</span></span></em></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13749', 'image' => '20210922041002_20151201011250_embargo.jpg', 'article_date' => '2021-09-22 16:08:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14003', 'article_category_id' => '1', 'title' => 'Changunarayan wins Title of World's Best 10 City on Open Data Practice ', 'sub_title' => '', 'summary' => 'September 22: Bhaktapur's Changunarayan Municipality has won the title of the world's 10th best municipality. ', 'content' => '<p><em>Changunarayan Temple of Changunarayan Municipality, Bhaktapur. Photo Courtesy: Oriental Architecture</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: Bhaktapur's Changunarayan Municipality has won the title of the world's 10th best municipality. The municipality has been rated as the best performer in the Open City Incubator programme run under the New York University School of Engineering of the US. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Changunarayan's Information Technology Officer Siddhant Neupane shared that the municipality was so far the first local level of Nepal to win such title. Neupane is also the first-ever participant to take part in the city incubator programme from the municipalities of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chungunarayan was selected as the 10th best cities of the world in the evaluation of data management practices and open data system, informed the municipality’s mayor Som Prasad Mishra. He further shared that Changunarayan's information technology officer Neupane participated in the programme on behalf of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mishra claimed that the municipality had attained the position for developing the first-of-its-kind open data platform in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The cities and municipalities that were selected in the incubator programme would get an opportunity to take part in a training to be delivered by prominent data expert in coming six months and prepare their data related activities and programme in line with international standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The announcement of the best municipalities was made at a virtual programme held in New York on Monday, Neupane shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Open Data Incubator Programme official commented that the thoughts and actions of Changunaryan, a municipality of a developing country like Nepal, has inspired all people working in this sector. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13748', 'image' => '20210922035232_changu-narayan_temple_BIG.jpg', 'article_date' => '2021-09-22 15:50:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 24: The Food Management and Trade Company (FMTC) has prevented the sale of 2000 quintals of rice being stored at Surkhet office of Karnali province suspecting officials of trying to sell damaged rice that was meant to be destroyed. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Besh Bahadur Thapa, head of the Surkhet Department of Food Technology and Quality Control, informed that FMTC has prevented the sale of 1,975 quintals of Basmati rice. The ban has been put on after the department and the District Administration Office inspected the store.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Thapa said that inspection was carried out when the department was notified about the rice, which was suggested to be destroyed by FMTC, of being sent to Karnali for sale. He further said that the department has been informed about the quality of the rice. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Since July 30, FMTC has been provided with only 2000 quintals of rice," said Binod Poudel, accounts assistant of FMTC. He said that they have also been consuming the same rice regularly. According to him, Kaushal Agro Rice Mill, Lahan packaged the rice on November 1, 2020.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13762', 'image' => '20210924123152_rice.jpg', 'article_date' => '2021-09-24 12:31:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14016', 'article_category_id' => '1', 'title' => 'Home Minister Directs to Ensure Smooth Supply of Essentials during Festive Season ', 'sub_title' => '', 'summary' => 'September 24: Home Minister Bal Krishna Khand has directed concerned officials to ensure prompt supply of daily essentials by curbing illegal activities during the festive season. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 24: Home Minister Bal Krishna Khand has directed concerned officials to ensure prompt supply of daily essentials by curbing illegal activities during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting at the Ministry on Thursday, Minister Khand drew the attention of the officials towards possible black marketing, sales of date expired goods and medicines, and asked the subordinate bodies to book the wrongdoers as per the law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“It is the state’s first priority to safeguard citizen’s life and work for their welfare. We are committed to meeting this responsibility,” the Minister told the officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumer rights activists, transport entrepreneurs, industrialists, government officials and security officials were present on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Khand also urged the businesspersons to sell huge quantity by making less profit in the festive season. He urged the transport entrepreneurs to become serious in reducing road accidents. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, he also assured to take initiatives to talk to the Prime Minister for the maintenance of roads that were damaged during the monsoon season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking at the programme, Home Secretary Tek Narayan Pandey cautioned the traders stating that public health should not be belittled through the market system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Secretary at the Ministry of Industry, Commerce and Supplies Dinesh Bhattarai said that the line agency officials have been instructed to take stern actions if the traders were found selling date expired goods. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13761', 'image' => '20210924121918_20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-09-24 12:18:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14015', 'article_category_id' => '1', 'title' => 'Passenger Help Desk Set Up at New Bus Park', 'sub_title' => '', 'summary' => 'September 24: A 'Passenger Help Desk' has been set up at the new bus park situated at Gongabu, Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 24: A 'Passenger Help Desk' has been set up at the new bus park situated at Gongabu, Kathmandu. With the objective of facilitating passengers for the upcoming festivals, the Metropolitan Traffic Police Division and Lhotse Multipurpose Pvt Ltd jointly set up the 'Passenger Help Desk'.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Engineer Deepak Kunwar, chairman of Lhotse Multipurpose Pvt Ltd, inaugurated the 'Passenger Help Desk' which started operation from Thursday, September 23. Speaking on the occasion, he said that since the new bus park is connected to all the provinces of the country, and the setting up of the ‘Passenger Help Desk’ would create an environment for passengers to travel comfortably, without the threat of theft and fraud.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Spokesperson of the MTPD, Superintendent of Police Sanjeev Sharma said that they would help in resolving any problem related to tickets for the festivals.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13760', 'image' => '20210924120144_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2021-09-24 12:00:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14014', 'article_category_id' => '1', 'title' => 'Online Shop Dedicated to Selling Products of Women Entrepreneurs Launched', 'sub_title' => '', 'summary' => 'September 24: Thulo.com, an e-commerce market, and Enterprise for Management, Economic Reform and Gender Equality (Emerge) have launched Udhyami Utthan (UU) Online Shop (thulo.com/uu) under the project ‘Fostering Resilience of Women-led Business and Consumer’. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">September 24: Thulo.com, an e-commerce market, and Enterprise for Management, Economic Reform and Gender Equality (Emerge) have launched Udhyami Utthan (UU) Online Shop (thulo.com/uu) under the project ‘Fostering Resilience of Women-led Business and Consumer’ as part of the Udhyami Utthan Campaign.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The project is supported by USAID’s Tayar Nepal - Improved Disaster Risk Management Project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the project officials, this shop is dedicated to selling and distributing products related to disaster risk reduction, disaster preparedness, response and recovery that are produced by women entrepreneurs from both formal and informal sectors, including home-based workers. The products are showcased under the categories shelter, health, wash, education, food, and feel-good products. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The online shop has urged everyone to join hands in supporting the women entrepreneurs by buying their products and also by providing them feedback. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“While you enjoy their wonderful products you would also be supporting them in their journey towards resilient entrepreneurship,” the online shop wrote on its website.</span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/udhyami-utthan-uu-header-banner%281%29.jpg" style="height:159px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13759', 'image' => '20210924113812_Untitled.jpg', 'article_date' => '2021-09-24 11:36:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14013', 'article_category_id' => '1', 'title' => 'Central Bank Issues Repo worth Rs 30 Billion', 'sub_title' => '', 'summary' => 'September 24: Nepal Rastra Bank (NRB) has decided to issue a repurchase agreement (repo) worth Rs 30 billion to address the shortage of investment capital in banking and financial system.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 24: Nepal Rastra Bank (NRB) has decided to issue a repurchase agreement (repo) worth Rs 30 billion to address the shortage of investment capital in banking and financial system. The central bank said in a statement that it is issuing the repo for seven days starting from September 23. The repo will mature on September 30. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB issues short-term repo if there is liquidity crunch in the banking system. Commercial banks, development banks and financial institutions can buy the repo through tender bids. Before this, NRB had provided the money through repo of Rs 20 billion for a period of seven days on September 2, as well as Rs 30 billion for a period of 14 days on September 9 and Rs 20 billion for a period of one week on September 16. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Banks and financial institutions use the repo, inter-bank lending and the Standing Liquidity Facility (SLF) in case of liquidity crunch. It is found that banks and financial institutions are not getting the inter-bank lending due to the shortage of liquidity. They have been regularly taking SLF. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB data shows that the banks and financial institutions have raised Rs 409.56 billion through SLF as of Wednesday (September 22) in the current fiscal year starting mid-July. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">BFIs raised Rs 27.24 billion through SLF for 12 times on Wednesday alone, as per the NRB data. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13758', 'image' => '20210924101845_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-09-24 10:17:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14012', 'article_category_id' => '1', 'title' => 'President Authenticates Appropriation Bill', 'sub_title' => '', 'summary' => 'September 24: President Bidya Devi Bhandari has authenticated the ‘Appropriation Bill, 2078’ paving way for the government to spend the budget.', 'content' => '<p><em>Office of the President. Photo Courtesy: Government of Nepal</em></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"">September 24: President Bidya Devi Bhandari has authenticated the ‘Appropriation Bill, 2078’ paving way for the government to spend the budget.</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"">According to the Office of the President, the bill passed from the Federal Parliament was authenticated on Thursday (September 23) as per Article 113 (2) of the Constitution.</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"">Speaker Agni Prasad Sapkota had sent the bill to the Office of the President for authentication after it was passed by both the lower and upper houses of parliament. </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"">The country had witnessed a ‘budget holiday' since last week when the parliament was not able to pass the bill due to obstruction created by the main opposition party CPN-UML.</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"">The House of Representatives later passed the ‘Appropriation Bill’ on September 20 while the National Assembly had passed the bill Thursday itself. With the authentication of the bill, the government now can spend budget from the state coffers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13757', 'image' => '20210924095324_Sheetal-Niwas-1-scaled-1536x700 - Copy.jpg', 'article_date' => '2021-09-24 09:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14011', 'article_category_id' => '1', 'title' => 'Banks Tightening Credit Flow due to Liquidity Crunch', 'sub_title' => '', 'summary' => 'September 23: Banks have reduced the credit flow due to liquidity crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: Banks have reduced the credit flow due to liquidity crisis. Since the beginning of the current fiscal year, the banking sector has been experiencing a liquidity crunch. Lately, this problem has intensified due to various reasons. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Anil Keshari Shah, Chief Executive Officer (CEO) of Nabil Bank, said banks are reducing the credit flow to manage liquidity. “Credit that has been extended is also being provided at a higher interest rate,” said Shah.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shah said that it could impact on the overall economic growth rate. "Increase in credit flow is the driving force of economic growth. However, due to lack of liquidity, we are reducing the credit expansion. In this case, the economic growth rate may also be affected which we should be prepared for." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Liquidity crunch is caused due to multiple factors. Banks are also said to be one of the factors responsible for creating liquidity crunch. Excessive credit flow in the last fiscal year has affected the state of liquidity this year. Nepal Rastra Bank scrapped the CCD ratio and implemented CD ratio which has also affected liquidity. While implementing this provision, the average CD ratio was around ninety one percent. Shortage of liquidity occurred while maintaining CD ratio at the specified limit. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">However, the major reason behind the liquidity crunch is the government's inability to spend the budget. "Government spending is not the key to liquidity management. But, we are looking for the day when the government starts to spend. We are exploring other options as well,” said Shah. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government has not been able to spend the budget due to the replacement bill introduced by the government. Budget spending is the main source of banking liquidity. Liquidity crunch has arised as the budget has not been spent for the last two months 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"">Banks have increased interest rates on deposits to 10 percent to address the liquidity problem. Nepal Rastra Bank has also been managing liquidity for the banks using financial market instruments. NRB has provided Rs 100 billion through the repo system. It is releasing additional Rs 30 billion in the market. Yet, it is still challenging to address the liquidity problem, according to bankers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif""> "It will be resolved in due course of time but is certain to create some fluctuations in the interest rate," said Shah. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Anraj Bhattarai, an expert on banking, said the liquidity problem is short-lived. "The current liquidity crunch will not last for a long time. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB can easily address this issue by making some policy changes. However, banks have reacted unnecessarily by increasing interest rates. “This issue might be addressed through the first quarterly review of monetary policy," added Bhattarai.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said the CD ratio should be further clarified through the first quarterly review of monetary policy. “At present, Rs 152 billion credit has been extended in foreign currency. If such loans are not counted in the CD ratio, liquidity of Rs 152 billion would be available."</span></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 central bank should also introduce a flexible policy applicable for banks to invest in the stock market. "Banks are not allowed to sell their shares for one year. As a result, Rs 70-80 billion invested by banks in the stock market can't be used for the time being which should be addressed by the central bank," he said .</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13756', 'image' => '20210923032045_202011230546n.jpg', 'article_date' => '2021-09-23 15:19:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14010', 'article_category_id' => '1', 'title' => 'New Tax Policy likely to Increase Investment in Billet Production ', 'sub_title' => '', 'summary' => 'September 23: With the government's policy on importing sponge iron and billets through the replacement bill, iron rod manufacturers are expecting the investment in billet production to increase.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: With the government's policy on importing sponge iron and billets through the replacement bill, iron rod manufacturers are expecting the investment in billet production to increase. However, some entrepreneurs are trying to revoke this decision. The entrepreneurs are divided in two groups, one against the new policy and another in favour of it. After the announcement of the zero-tariff rate on sponge iron, home-grown industrialists have decided to add investment to expand the capacity of the billet industry in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Nepal has the capacity to produce 1.46 million metric tons of billets annually, while the demand is 1.2 million metric tons per year. Iron rod companies do not produce even 50 percent of their capacity because it is cheaper to make rods from sponge iron and billets imported from India. At present, industries are producing billets at only 30 percent capacity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Chairman of Saurabh Group, Vishnu Neupane, says that the company is preparing to expand its production capacity and provide rods to the consumers at affordable prices. According to him, there are 12 such industries now and Rs 6 billion to Rs 10 billion will be invested in the billet industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">After the introduction of zero customs duty on sponge iron import, its import will become cheaper, and billet production in the country will be initially less by Rs 3 per kg and Rs 5 per kg in the long-term, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At present, the factory price of the rod is Rs 85 per kg, but the market price is Rs 95 per kg, according to producers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Currently, the production of billets in Nepal is not as much as the production capacity. The government has decided that these industries will now run at full capacity," Neupane 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"">With this decision, the capacity to produce billets will increase, and the investment too will rise immediately, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Producers have been divided into two groups after the customs duty on sponge iron was reduced to zero. Demanding that the government's decision be revoked, the dissident group has now stopped the import of billets.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhruva Kumar Shrestha, the vice-chairman of Panchakanya Group, said that 24 industries have not brought any raw material so far and this will reduce the revenue collection of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"After raising the excise duty, there is no question of importing raw materials," said Shrestha. Production of billets from sponge iron will pollute the environment. He claims that making a rod from a sponge and scrub is not enough as it does not give strength. This problem, which has been seen among businessmen since the start of the construction season, has also raised concerns over the availability of construction materials.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">.</span></strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13755', 'image' => '20210923023456_ms-plate-500x500.jpg', 'article_date' => '2021-09-23 14:33:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14009', 'article_category_id' => '1', 'title' => 'DoTM Preparing to Open Advance Booking of Tickets for Dashain', 'sub_title' => '', 'summary' => 'September 23: The Department of Transportation Management is preparing to open ticket booking for Dashain. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: The Department of Transportation Management is preparing to open ticket booking for Dashain. The department called the members of the National Federation of Nepali Transport Entrepreneurs on Thursday to discuss about advance ticket booking.</span></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 department has been issuing advance tickets every year as the number of people leaving the Kathmandu Valley to their villages increases uncontrollably during the Dashain festival. About 2 million people leave Kathmandu every year. But last year, only 500,000 people bought tickets due to the threat of Covid-19 infection. The actual number is believed to be around 800,000 since the transport entrepreneurs were suspected of carrying more passengers than the number of seats.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Despite the threat of Covid-19 infection, the number of people leaving Kathmandu for Dashain this year is expected to double than that of last year, according to Loknath Bhusal, spokesperson for the department.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"We have summoned the businessmen and the Traffic Police Division to the department on Thursday to discuss the issue of advance ticket booking," he said, “Preparations are being made to open advance booking of tickets within the last week of September as the number of passengers is sure to increase.” </span></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 Department had called the representative of the Federation and the Chief of the Metropolitan Traffic Division, SSP Janak Bhattarai in order to request the advance ticket booking from August 26 itself. But the federation was reluctant to open the advance ticket immediately saying that they should discuss with the entrepreneurs first.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government has increased the fare for long distance route by 28 percent since July 13. As a result, the passengers travelling this year will have to pay the increased fare. Saroj Sitaula, General Secretary of the federation, said that the businessmen are preparing to open advance tickets with additional fare. "After having discussions with the department, the date for opening the ticket booking would be fixed," said Sitaula.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13754', 'image' => '20210923020436_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2021-09-23 14:03:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14008', 'article_category_id' => '1', 'title' => 'Locals Assure Full Cooperation for Upper Arun Hydropower Project ', 'sub_title' => '', 'summary' => 'September 23: Locals of Sankhuwasabha district have urged the Energy Minister to expedite the 1,061-megawatt Upper Arun Hydropower Project at the earliest. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 23: Locals of Sankhuwasabha district have urged the Energy Minister to expedite the 1,061-megawatt Upper Arun Hydropower Project at the earliest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The half-reservoir hydropower project is likely to be constructed at Chonggrak of Bhotekhola Rural Municipality-4 in Sankhuwasabha district. A high-level team led by Minister for Energy, Water Resources and Irrigation Pampha Bhusal had visited the construction site on Wednesday (September 22) when the locals made such request. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals have assured full cooperation to the team comprising representatives from the Ministry of Finance, World Bank and secretaries of the concerned ministries for the construction of the hydro power project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A stakeholder forum's chair Ladar Bhote said that they were eager to use the electricity produced by the project in their soil. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">"We are hopeful that the project would bring about good changes in the locality. The health and education sector are likely to undergo reforms due to the project," said Bhote, pledging utmost cooperation from their side for the project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhusal, in response, said the project would be constructed once they conclude a detail study of the project that was underway and discussion on investment modality that was also in the offing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She assured that the locals would be benefitted from the Upper Arun Hydro Power Project and called for their cooperation for the project which she claimed to be a 'game-changer'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Electricity Authority's auxiliary company Arun Hyrdo Electric Company has been entrusted with the responsibility to construct the project where the general public will have 49 per cent shares. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> For the investment, discussions are being held with the World Bank and the European Union for loan in subsidized rate while the Citizen’s Investment Trust, Employees Provident Fund are also the likely investors for the project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal government, provincial government and the local government will also invest in the semi-storage project which is expected to generate over 4.5 billion units of electricity annually. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Bank is expected to provide over US$ 13.1 million loan at subsidized rate for the project. The project is expected to commence within 2023 and will most likely be completed by 2030. The project requires 180 hectares of land and is said to displace a total of 25 households. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The visiting team included secretary at the Ministry of Energy, Water Resources and Irrigation Devendra Karki, Secretary at the Ministry of Finance Madhu Kumar Marasini, World Bank's vice chairperson for South Asia region Hartwig Schafer, World Bank's executive director Mohd Hassan among others. The team also inspected the site where the main physical structure and power production house would be built. --RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13753', 'image' => '20210923010717_upper arun.jpg', 'article_date' => '2021-09-23 13:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14007', 'article_category_id' => '1', 'title' => 'Government Claims it has Adequate Stock of Sugar for 3 Months ', 'sub_title' => '', 'summary' => 'September 23: The Department of Commerce, Supplies and Consumer Protection has assured that the government has adequate stock of sugar required for the upcoming festivals.', '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 Unicode MS","sans-serif"">September 23: The Department of Commerce, Supplies and Consumer Protection has assured that the government has adequate stock of sugar required for the upcoming festivals. The announcement was made amid concerns that the government has not approved purchase of sugar since the last eight months. </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 Unicode MS","sans-serif"">The department has stated that it has enough stock of sugar for three months. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Wednesday, the department urging the consumers not to be concerned about this matter as there is sufficient stock of sugar in the market. </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 Unicode MS","sans-serif"">"There is no reason for consumers to be concerned as process of importing sugar is regular and there is enough sugar in the market,” the statement said.</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 Unicode MS","sans-serif"">The department also urged the consumers not to stockpile sugar unnecessarily. </span></span><br /> <span style="font-size:14.0pt">Earlier, it was reported that the two state-owned companies – Salt Trading Corporation and Food Management and Trading Company Limited – that have been selling sugar at subsidized rate do not have enough stock of sugar for the festive season. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">This had raised concerns that the traders might increase the price of sugar at their will taking advantage of such situation.</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 Unicode MS","sans-serif"">However, the department has also cautioned businessmen against creating artificial shortage of sugar and has warned of action in line with the Consumer Protection Act, 2075 BS and Rules, 2076 BS if anyone is found guilty of being involved in such act. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13752', 'image' => '20210923123254_20210917104641_20210511045157_20201220120511_Sweet2.jpg', 'article_date' => '2021-09-23 12:32:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14006', 'article_category_id' => '1', 'title' => 'Farmers Unhappy with the Minimum Support Price of Rice fixed by the Government ', 'sub_title' => '', 'summary' => 'September 23: Farmers have expressed dissatisfaction over the minimum support price of paddy fixed by the government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 23: Farmers have expressed dissatisfaction over the minimum support price of paddy fixed by the government. They argued that the minimum support price is too less compared to increase in price of chemical fertilizer, seeds, agricultural tools and equipment and the wages of the labourers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock Development said in a statement that the minimum support price was fixed by the cabinet meeting held on September 14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the price of coarse paddy has been fixed at Rs 2,752 per quintal and medium variety at Rs 2,902 per quintal for 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:"Arial Unicode MS","sans-serif"">Although the new support price is more by Rs 17 per quintal than last year, the farmers are unhappy in the current context of inflation and price hike. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Last year, coarse paddy was priced at Rs 2,735 per quintal and medium variety paddy at Rs 2,885 per quintal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has been fixing the minimum support price of coarse and medium variety of paddy every year arguing that the entrepreneurs will buy paddy at arbitrary price if the price is not fixed on time. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the National Farmers Commission Dr Prem Dangal expressed dissatisfaction regarding the minimum support price fixed by the government arguing that the government should have taken into consideration the factors such as the increase in prices of fertilizer, seeds, agricultural equipment and labour charge while fixing the support price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the farmers will have to bear loss due to the government’s decision which was taken without considering the price hike of basic necessities required for agriculture.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">“The government has already fixe the support price. Now it has to pay attention toward implementing the support price,” said Dr Dangal, adding, “The government must consider the investment made by the farmers while determining the support price in the future.”</span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13751', 'image' => '20210923105350_1632346780.jpg', 'article_date' => '2021-09-23 10:53:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14005', 'article_category_id' => '1', 'title' => 'Nepal’s Economy to Modestly Grow in FY2022', 'sub_title' => '', 'summary' => 'September 23: The Asian Development Bank (ADB) has project a modest growth in Nepal’s economy for the upcoming fiscal year owing to the vaccination drive initiated by the government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">September 23: The Asian Development Bank (ADB) has project a modest growth in Nepal’s economy for the upcoming fiscal year owing to the vaccination drive initiated by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the Asian Development Outlook (ADO) 2021 Update, a flagship publication of the ADB, Nepal’s economy is anticipated to grow by 4.1 percent (at market prices) in fiscal year (FY) 2022, up from an estimated growth of 2.3 percent in FY2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">ADB’s Country Director for Nepal Arnaud Cauchois said in a statement that the growth will largely be supported by the ongoing vaccination campaign against COVID-19 as the national immunization plan remains key to Nepal’s economic recovery.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">“Downside risks include the uncertain trajectory of COVID-19, a possible surge in COVID-19 cases, and subsequent strict containment measures, which could reverse the gradual economic recovery in FY2021,” he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the report, growth in Nepal’s agriculture will likely be boosted by increased paddy plantation amid abundant rainfall this monsoon season. Industry output is expected to grow, thanks to a large increase in export volume and stronger domestic demand, as rollout of the national vaccination plan will reduce infection rates over time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The government’s fiscal policy for 2022 largely focuses on strengthening the nation’s health care system. Monetary policy will remain accommodative through a dedicated refinancing facility, concessional lending for priority projects and for affected businesses, the statement further said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the report, growth in services will accelerate because of increased economic activities in the wholesale and retail trade, transport, and financial services along with the vaccine rollout nationwide. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">“International tourism arrivals, which declined by 80.8 percent in 2020, may gradually recover, as trekking routes and expeditions resume. Hotels and restaurants, travel, and tourism will likely take more time to recover to pre-pandemic level until the sustained containment of COVID-19.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The report says the country’s inflation will rise modestly to 5.2 percent in FY2022, up from the projected 3.6 percent in FY2021, due to higher global oil prices and a gradual recovery in domestic demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">Growth in non-oil imports will likely remain high in FY2022, as investments rise on the gradual revival of the economy. On the other hand, growth in oil imports may be slow, because an increase in hydroelectricity generation may partially offset a rise in fossil fuel consumption. Even with continued strong growth in exports and remittances, the current account deficit will remain high, at an estimated 5.0 percent of GDP, though down from 8.0 percent a year earlier, says the report.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">Other downside risks include natural hazards such as erratic monsoons and floods, which could reduce farm output and damage infrastructure. Heavy rainfall since mid-June 2021 has triggered landslides and floods and led to the loss of lives and livelihoods in some mountainous districts of Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The report says fiscal spending by provincial and local governments can be improved if they address the persistent capacity deficiencies in investment planning, financial management, project readiness, procurement, and contract management.</span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/139441-nepal-01-01.jpg" style="height:576px; width:1024px" /></p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13750', 'image' => '20210923101741_ccd-1477540727.jpg', 'article_date' => '2021-09-23 10:16:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14004', 'article_category_id' => '1', 'title' => 'Why Indian Embargo of 2015 Differs from Previous Ones?', 'sub_title' => '', 'summary' => '', 'content' => '<p><em>This file photo shows a human chain formed to protest the unofficial blockade imposed by India on Nepal in 2015. Photo: NBA Files</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Birat Anupam</span></span></strong><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: September 23 marks the sixth anniversary of 6-month-long Indian embargo starting from September 23, 2015. Indian blockades are not a new phenomenon in Nepal's living and institutional memories. If history is any indication, Nepal is prone to periodic Indian blockade just because of its land-locked nature and mainly due to India-dependent trade and transit status. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal faced Indian blockade in 1962, 1971, 1989 and 2015. The military blockade of 2005 is also mentionable. However, this blockade was mainly on military fronts where India ceased its treaty-driven mandatory military supplies to Nepal Army, which was officially called Royal Nepalese Army during those days. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">However, the Indian trade embargo of 2015 is different from all other periodic Indian embargoes. Here are the reasons. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Trade embargo against the promulgation of Nepal's constitution</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">For the first time in the Nepal's history of seven written constitutions, the Constitution of 2015 was the only one written by people’s representatives. The 601-member Constituent Assembly was sovereign to draft and promulgate Nepal's constitution. CA promulgated the historic constitution on 20 September 2015. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Foreign Secretary Subrahmanyam Jaishankar, now the Indian Foreign Minister, landed in Kathmandu on 18 September to persuade Nepal's leaders to delay constitution promulgation and include Indian inputs, Nepali leaders denied and promulgated the charter on the stated date of 20 September by overwhelmingly two-thirds majority of the Constituent Assembly. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Sushil Koirala, the then PM, led this historic constitutional consensus among Nepal's major political players to promulgate Nepal's historic constitution. In a recently unveiled political document in his party meeting, Chair of CPN (UML) and former PM KP sharma Oli said Jaishankar 'threatened' Nepali leaders to delay the constitution. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It did not take more than three days for Nepal to feel the Indian trade embargo. India, however, while reacting on the newly promulgated constitution of 2015, had hinted on possible embargo. It had issued an official statement that cautioned, ''We are concerned that the situation in several parts of the country bordering India continues to be violent.'' True to the cautionary call, India imposed trade embargo on Nepal. India said the protesters along India-Nepal borders were the reason for the cross-border trade and transport disruption. The fact was that even those peaceful border crossings like Kakarbhitta did not see much imports compared to normal days. Only occasional nonessential stuffs were allowed to enter via regulated peaceful border crossings. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">First Indian embargo in non-monarchial era </span></span></strong><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">All previous Indian embargoes imposed on Nepal happened during active monarchial system. For example, when Jawaharlal Nehru imposed embargo on Nepal in 1962 during the reign of King Mahendra. Nehru's daughter Indira Gandhi did the same in 1971 when the same King was ruling Nepal. In 1989, Indian PM was Rajeev Gandhi, the son of Indira Gandhi, and Nepal's King was Birendra. Likewise, in 2005 military embargo, Nepal's last King Gyanendra was directly ruling Nepal. The embargo of 2015 is the only economic blockade where there was no king at the helm of Nepal. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">No Chinese factor associated during embargo</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">In almost all embargoes in Nepal, Indian establishment has pinpointed Chinese factor for its action. For example, in 1962, India was 'not happy' as Nepal and China were working to construct Araniko Highway connecting Nepal's capital Kathmandu and China's autonomous province of Tibet. In 1971, Nepal removed India's wireless operator from Nepal's northern borders with China. In 1989, Nepal imported anti-aircraft guns from China. Even in 2005 military embargo against the then King Gyanendra's direct rule, the king was largely portrayed as pro-China by Indian establishment. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Dawn of Nepal's opening up with China in terms of TTA</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Despite having direct roadways connecting Nepal and China since 1967, Nepal never inked any Transit Trade Agreement (TTA). Interestingly, after Indian embargo of 2015, Nepal inked TTA with China with legal access to seven sea and dry ports of China. This was inked during state visit of KP Sharma Oli on 21 March 2016. Oli and his Chinese counterpart Li Keqiang inked the deal. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The TTA protocol was also signed during second tenure of KP Oli's premiership on 29 April 2019 during the state visit of Nepal's President Bidya Devi Bhandari to China in presence of her Chinese counterpart Xi Jinping. Nepal's Foreign Minister Pradeep Kumar Gyawali and China's Transport Minister Li Xiaopeng. TTA gave Nepal alternative avenues for its international trade and transit via Chinese seas and ports. This will help, say observers and experts, cope up possible Indian embargos in the future. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">India stood supportive after 2015 blockade for trade and transit</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Indian officials essentially denied embargo on Nepal. However, at Rajya Sabha debate, Indian MPs pressed then External Affairs Minister Sushma Swaraj about embargo on Nepal. In that debate, on 7 December 2015, Swaraj indirectly confessed Indian embargo. She said, ''Even in times of Rajeev Gandhi, there was embargo on Nepal.'' </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">On positivity, India changed its track for better after 2015 embargo; it was ready to let Nepal use additional Indian ports. Previously, Nepal used to import/export via Haldia port of Kolkata only. After Oli's six-day state visit to India from February 19 to 24 of 2016, India agreed to give Nepal an access to the Visakhapatnam port of Andhra Pradesh of India. The business from that port began since October that year. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It speeded construction of 69-kilometer-long petroleum pipeline from Bihar to Nepal's Amlekhganj. A total of 36-kilometer portion of this pipeline falls within Nepal. Nepal's PM Oli and his Indian counterpart Narendra Modi virtually inaugurated this on 10 September 2019. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><em><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">(This article is a </span></span></em><em><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">special feature prepared by the state-owned national news agency RSS on sixth anniversary of India-imposed blockade)</span></span></em></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13749', 'image' => '20210922041002_20151201011250_embargo.jpg', 'article_date' => '2021-09-22 16:08:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14003', 'article_category_id' => '1', 'title' => 'Changunarayan wins Title of World's Best 10 City on Open Data Practice ', 'sub_title' => '', 'summary' => 'September 22: Bhaktapur's Changunarayan Municipality has won the title of the world's 10th best municipality. ', 'content' => '<p><em>Changunarayan Temple of Changunarayan Municipality, Bhaktapur. Photo Courtesy: Oriental Architecture</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: Bhaktapur's Changunarayan Municipality has won the title of the world's 10th best municipality. The municipality has been rated as the best performer in the Open City Incubator programme run under the New York University School of Engineering of the US. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Changunarayan's Information Technology Officer Siddhant Neupane shared that the municipality was so far the first local level of Nepal to win such title. Neupane is also the first-ever participant to take part in the city incubator programme from the municipalities of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chungunarayan was selected as the 10th best cities of the world in the evaluation of data management practices and open data system, informed the municipality’s mayor Som Prasad Mishra. He further shared that Changunarayan's information technology officer Neupane participated in the programme on behalf of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mishra claimed that the municipality had attained the position for developing the first-of-its-kind open data platform in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The cities and municipalities that were selected in the incubator programme would get an opportunity to take part in a training to be delivered by prominent data expert in coming six months and prepare their data related activities and programme in line with international standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The announcement of the best municipalities was made at a virtual programme held in New York on Monday, Neupane shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Open Data Incubator Programme official commented that the thoughts and actions of Changunaryan, a municipality of a developing country like Nepal, has inspired all people working in this sector. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13748', 'image' => '20210922035232_changu-narayan_temple_BIG.jpg', 'article_date' => '2021-09-22 15:50:45', '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:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 24: The Food Management and Trade Company (FMTC) has prevented the sale of 2000 quintals of rice being stored at Surkhet office of Karnali province suspecting officials of trying to sell damaged rice that was meant to be destroyed. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Besh Bahadur Thapa, head of the Surkhet Department of Food Technology and Quality Control, informed that FMTC has prevented the sale of 1,975 quintals of Basmati rice. The ban has been put on after the department and the District Administration Office inspected the store.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Thapa said that inspection was carried out when the department was notified about the rice, which was suggested to be destroyed by FMTC, of being sent to Karnali for sale. He further said that the department has been informed about the quality of the rice. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Since July 30, FMTC has been provided with only 2000 quintals of rice," said Binod Poudel, accounts assistant of FMTC. He said that they have also been consuming the same rice regularly. According to him, Kaushal Agro Rice Mill, Lahan packaged the rice on November 1, 2020.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13762', 'image' => '20210924123152_rice.jpg', 'article_date' => '2021-09-24 12:31:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14016', 'article_category_id' => '1', 'title' => 'Home Minister Directs to Ensure Smooth Supply of Essentials during Festive Season ', 'sub_title' => '', 'summary' => 'September 24: Home Minister Bal Krishna Khand has directed concerned officials to ensure prompt supply of daily essentials by curbing illegal activities during the festive season. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 24: Home Minister Bal Krishna Khand has directed concerned officials to ensure prompt supply of daily essentials by curbing illegal activities during the festive season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting at the Ministry on Thursday, Minister Khand drew the attention of the officials towards possible black marketing, sales of date expired goods and medicines, and asked the subordinate bodies to book the wrongdoers as per the law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“It is the state’s first priority to safeguard citizen’s life and work for their welfare. We are committed to meeting this responsibility,” the Minister told the officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Consumer rights activists, transport entrepreneurs, industrialists, government officials and security officials were present on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Khand also urged the businesspersons to sell huge quantity by making less profit in the festive season. He urged the transport entrepreneurs to become serious in reducing road accidents. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, he also assured to take initiatives to talk to the Prime Minister for the maintenance of roads that were damaged during the monsoon season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Also speaking at the programme, Home Secretary Tek Narayan Pandey cautioned the traders stating that public health should not be belittled through the market system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Secretary at the Ministry of Industry, Commerce and Supplies Dinesh Bhattarai said that the line agency officials have been instructed to take stern actions if the traders were found selling date expired goods. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13761', 'image' => '20210924121918_20210314113942_Clipboard02(7).jpg', 'article_date' => '2021-09-24 12:18:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14015', 'article_category_id' => '1', 'title' => 'Passenger Help Desk Set Up at New Bus Park', 'sub_title' => '', 'summary' => 'September 24: A 'Passenger Help Desk' has been set up at the new bus park situated at Gongabu, Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 24: A 'Passenger Help Desk' has been set up at the new bus park situated at Gongabu, Kathmandu. With the objective of facilitating passengers for the upcoming festivals, the Metropolitan Traffic Police Division and Lhotse Multipurpose Pvt Ltd jointly set up the 'Passenger Help Desk'.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Engineer Deepak Kunwar, chairman of Lhotse Multipurpose Pvt Ltd, inaugurated the 'Passenger Help Desk' which started operation from Thursday, September 23. Speaking on the occasion, he said that since the new bus park is connected to all the provinces of the country, and the setting up of the ‘Passenger Help Desk’ would create an environment for passengers to travel comfortably, without the threat of theft and fraud.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Spokesperson of the MTPD, Superintendent of Police Sanjeev Sharma said that they would help in resolving any problem related to tickets for the festivals.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13760', 'image' => '20210924120144_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2021-09-24 12:00:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14014', 'article_category_id' => '1', 'title' => 'Online Shop Dedicated to Selling Products of Women Entrepreneurs Launched', 'sub_title' => '', 'summary' => 'September 24: Thulo.com, an e-commerce market, and Enterprise for Management, Economic Reform and Gender Equality (Emerge) have launched Udhyami Utthan (UU) Online Shop (thulo.com/uu) under the project ‘Fostering Resilience of Women-led Business and Consumer’. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">September 24: Thulo.com, an e-commerce market, and Enterprise for Management, Economic Reform and Gender Equality (Emerge) have launched Udhyami Utthan (UU) Online Shop (thulo.com/uu) under the project ‘Fostering Resilience of Women-led Business and Consumer’ as part of the Udhyami Utthan Campaign.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The project is supported by USAID’s Tayar Nepal - Improved Disaster Risk Management Project.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the project officials, this shop is dedicated to selling and distributing products related to disaster risk reduction, disaster preparedness, response and recovery that are produced by women entrepreneurs from both formal and informal sectors, including home-based workers. The products are showcased under the categories shelter, health, wash, education, food, and feel-good products. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The online shop has urged everyone to join hands in supporting the women entrepreneurs by buying their products and also by providing them feedback. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“While you enjoy their wonderful products you would also be supporting them in their journey towards resilient entrepreneurship,” the online shop wrote on its website.</span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/udhyami-utthan-uu-header-banner%281%29.jpg" style="height:159px; width:800px" /></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13759', 'image' => '20210924113812_Untitled.jpg', 'article_date' => '2021-09-24 11:36:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14013', 'article_category_id' => '1', 'title' => 'Central Bank Issues Repo worth Rs 30 Billion', 'sub_title' => '', 'summary' => 'September 24: Nepal Rastra Bank (NRB) has decided to issue a repurchase agreement (repo) worth Rs 30 billion to address the shortage of investment capital in banking and financial system.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 24: Nepal Rastra Bank (NRB) has decided to issue a repurchase agreement (repo) worth Rs 30 billion to address the shortage of investment capital in banking and financial system. The central bank said in a statement that it is issuing the repo for seven days starting from September 23. The repo will mature on September 30. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB issues short-term repo if there is liquidity crunch in the banking system. Commercial banks, development banks and financial institutions can buy the repo through tender bids. Before this, NRB had provided the money through repo of Rs 20 billion for a period of seven days on September 2, as well as Rs 30 billion for a period of 14 days on September 9 and Rs 20 billion for a period of one week on September 16. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Banks and financial institutions use the repo, inter-bank lending and the Standing Liquidity Facility (SLF) in case of liquidity crunch. It is found that banks and financial institutions are not getting the inter-bank lending due to the shortage of liquidity. They have been regularly taking SLF. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NRB data shows that the banks and financial institutions have raised Rs 409.56 billion through SLF as of Wednesday (September 22) in the current fiscal year starting mid-July. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">BFIs raised Rs 27.24 billion through SLF for 12 times on Wednesday alone, as per the NRB data. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13758', 'image' => '20210924101845_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-09-24 10:17:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14012', 'article_category_id' => '1', 'title' => 'President Authenticates Appropriation Bill', 'sub_title' => '', 'summary' => 'September 24: President Bidya Devi Bhandari has authenticated the ‘Appropriation Bill, 2078’ paving way for the government to spend the budget.', 'content' => '<p><em>Office of the President. Photo Courtesy: Government of Nepal</em></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"">September 24: President Bidya Devi Bhandari has authenticated the ‘Appropriation Bill, 2078’ paving way for the government to spend the budget.</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"">According to the Office of the President, the bill passed from the Federal Parliament was authenticated on Thursday (September 23) as per Article 113 (2) of the Constitution.</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"">Speaker Agni Prasad Sapkota had sent the bill to the Office of the President for authentication after it was passed by both the lower and upper houses of parliament. </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"">The country had witnessed a ‘budget holiday' since last week when the parliament was not able to pass the bill due to obstruction created by the main opposition party CPN-UML.</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"">The House of Representatives later passed the ‘Appropriation Bill’ on September 20 while the National Assembly had passed the bill Thursday itself. With the authentication of the bill, the government now can spend budget from the state coffers.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-24', 'modified' => '2021-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '13757', 'image' => '20210924095324_Sheetal-Niwas-1-scaled-1536x700 - Copy.jpg', 'article_date' => '2021-09-24 09:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14011', 'article_category_id' => '1', 'title' => 'Banks Tightening Credit Flow due to Liquidity Crunch', 'sub_title' => '', 'summary' => 'September 23: Banks have reduced the credit flow due to liquidity crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: Banks have reduced the credit flow due to liquidity crisis. Since the beginning of the current fiscal year, the banking sector has been experiencing a liquidity crunch. Lately, this problem has intensified due to various reasons. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Anil Keshari Shah, Chief Executive Officer (CEO) of Nabil Bank, said banks are reducing the credit flow to manage liquidity. “Credit that has been extended is also being provided at a higher interest rate,” said Shah.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shah said that it could impact on the overall economic growth rate. "Increase in credit flow is the driving force of economic growth. However, due to lack of liquidity, we are reducing the credit expansion. In this case, the economic growth rate may also be affected which we should be prepared for." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Liquidity crunch is caused due to multiple factors. Banks are also said to be one of the factors responsible for creating liquidity crunch. Excessive credit flow in the last fiscal year has affected the state of liquidity this year. Nepal Rastra Bank scrapped the CCD ratio and implemented CD ratio which has also affected liquidity. While implementing this provision, the average CD ratio was around ninety one percent. Shortage of liquidity occurred while maintaining CD ratio at the specified limit. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">However, the major reason behind the liquidity crunch is the government's inability to spend the budget. "Government spending is not the key to liquidity management. But, we are looking for the day when the government starts to spend. We are exploring other options as well,” said Shah. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government has not been able to spend the budget due to the replacement bill introduced by the government. Budget spending is the main source of banking liquidity. Liquidity crunch has arised as the budget has not been spent for the last two months 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"">Banks have increased interest rates on deposits to 10 percent to address the liquidity problem. Nepal Rastra Bank has also been managing liquidity for the banks using financial market instruments. NRB has provided Rs 100 billion through the repo system. It is releasing additional Rs 30 billion in the market. Yet, it is still challenging to address the liquidity problem, according to bankers.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif""> "It will be resolved in due course of time but is certain to create some fluctuations in the interest rate," said Shah. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Anraj Bhattarai, an expert on banking, said the liquidity problem is short-lived. "The current liquidity crunch will not last for a long time. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB can easily address this issue by making some policy changes. However, banks have reacted unnecessarily by increasing interest rates. “This issue might be addressed through the first quarterly review of monetary policy," added Bhattarai.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said the CD ratio should be further clarified through the first quarterly review of monetary policy. “At present, Rs 152 billion credit has been extended in foreign currency. If such loans are not counted in the CD ratio, liquidity of Rs 152 billion would be available."</span></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 central bank should also introduce a flexible policy applicable for banks to invest in the stock market. "Banks are not allowed to sell their shares for one year. As a result, Rs 70-80 billion invested by banks in the stock market can't be used for the time being which should be addressed by the central bank," he said .</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13756', 'image' => '20210923032045_202011230546n.jpg', 'article_date' => '2021-09-23 15:19:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14010', 'article_category_id' => '1', 'title' => 'New Tax Policy likely to Increase Investment in Billet Production ', 'sub_title' => '', 'summary' => 'September 23: With the government's policy on importing sponge iron and billets through the replacement bill, iron rod manufacturers are expecting the investment in billet production to increase.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: With the government's policy on importing sponge iron and billets through the replacement bill, iron rod manufacturers are expecting the investment in billet production to increase. However, some entrepreneurs are trying to revoke this decision. The entrepreneurs are divided in two groups, one against the new policy and another in favour of it. After the announcement of the zero-tariff rate on sponge iron, home-grown industrialists have decided to add investment to expand the capacity of the billet industry in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Nepal has the capacity to produce 1.46 million metric tons of billets annually, while the demand is 1.2 million metric tons per year. Iron rod companies do not produce even 50 percent of their capacity because it is cheaper to make rods from sponge iron and billets imported from India. At present, industries are producing billets at only 30 percent capacity.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Chairman of Saurabh Group, Vishnu Neupane, says that the company is preparing to expand its production capacity and provide rods to the consumers at affordable prices. According to him, there are 12 such industries now and Rs 6 billion to Rs 10 billion will be invested in the billet industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">After the introduction of zero customs duty on sponge iron import, its import will become cheaper, and billet production in the country will be initially less by Rs 3 per kg and Rs 5 per kg in the long-term, he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At present, the factory price of the rod is Rs 85 per kg, but the market price is Rs 95 per kg, according to producers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Currently, the production of billets in Nepal is not as much as the production capacity. The government has decided that these industries will now run at full capacity," Neupane 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"">With this decision, the capacity to produce billets will increase, and the investment too will rise immediately, he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Producers have been divided into two groups after the customs duty on sponge iron was reduced to zero. Demanding that the government's decision be revoked, the dissident group has now stopped the import of billets.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhruva Kumar Shrestha, the vice-chairman of Panchakanya Group, said that 24 industries have not brought any raw material so far and this will reduce the revenue collection of the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"After raising the excise duty, there is no question of importing raw materials," said Shrestha. Production of billets from sponge iron will pollute the environment. He claims that making a rod from a sponge and scrub is not enough as it does not give strength. This problem, which has been seen among businessmen since the start of the construction season, has also raised concerns over the availability of construction materials.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">.</span></strong></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13755', 'image' => '20210923023456_ms-plate-500x500.jpg', 'article_date' => '2021-09-23 14:33:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14009', 'article_category_id' => '1', 'title' => 'DoTM Preparing to Open Advance Booking of Tickets for Dashain', 'sub_title' => '', 'summary' => 'September 23: The Department of Transportation Management is preparing to open ticket booking for Dashain. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 23: The Department of Transportation Management is preparing to open ticket booking for Dashain. The department called the members of the National Federation of Nepali Transport Entrepreneurs on Thursday to discuss about advance ticket booking.</span></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 department has been issuing advance tickets every year as the number of people leaving the Kathmandu Valley to their villages increases uncontrollably during the Dashain festival. About 2 million people leave Kathmandu every year. But last year, only 500,000 people bought tickets due to the threat of Covid-19 infection. The actual number is believed to be around 800,000 since the transport entrepreneurs were suspected of carrying more passengers than the number of seats.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Despite the threat of Covid-19 infection, the number of people leaving Kathmandu for Dashain this year is expected to double than that of last year, according to Loknath Bhusal, spokesperson for the department.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"We have summoned the businessmen and the Traffic Police Division to the department on Thursday to discuss the issue of advance ticket booking," he said, “Preparations are being made to open advance booking of tickets within the last week of September as the number of passengers is sure to increase.” </span></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 Department had called the representative of the Federation and the Chief of the Metropolitan Traffic Division, SSP Janak Bhattarai in order to request the advance ticket booking from August 26 itself. But the federation was reluctant to open the advance ticket immediately saying that they should discuss with the entrepreneurs first.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government has increased the fare for long distance route by 28 percent since July 13. As a result, the passengers travelling this year will have to pay the increased fare. Saroj Sitaula, General Secretary of the federation, said that the businessmen are preparing to open advance tickets with additional fare. "After having discussions with the department, the date for opening the ticket booking would be fixed," said Sitaula.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13754', 'image' => '20210923020436_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2021-09-23 14:03:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14008', 'article_category_id' => '1', 'title' => 'Locals Assure Full Cooperation for Upper Arun Hydropower Project ', 'sub_title' => '', 'summary' => 'September 23: Locals of Sankhuwasabha district have urged the Energy Minister to expedite the 1,061-megawatt Upper Arun Hydropower Project at the earliest. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 23: Locals of Sankhuwasabha district have urged the Energy Minister to expedite the 1,061-megawatt Upper Arun Hydropower Project at the earliest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The half-reservoir hydropower project is likely to be constructed at Chonggrak of Bhotekhola Rural Municipality-4 in Sankhuwasabha district. A high-level team led by Minister for Energy, Water Resources and Irrigation Pampha Bhusal had visited the construction site on Wednesday (September 22) when the locals made such request. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals have assured full cooperation to the team comprising representatives from the Ministry of Finance, World Bank and secretaries of the concerned ministries for the construction of the hydro power project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A stakeholder forum's chair Ladar Bhote said that they were eager to use the electricity produced by the project in their soil. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">"We are hopeful that the project would bring about good changes in the locality. The health and education sector are likely to undergo reforms due to the project," said Bhote, pledging utmost cooperation from their side for the project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Bhusal, in response, said the project would be constructed once they conclude a detail study of the project that was underway and discussion on investment modality that was also in the offing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She assured that the locals would be benefitted from the Upper Arun Hydro Power Project and called for their cooperation for the project which she claimed to be a 'game-changer'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Electricity Authority's auxiliary company Arun Hyrdo Electric Company has been entrusted with the responsibility to construct the project where the general public will have 49 per cent shares. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> For the investment, discussions are being held with the World Bank and the European Union for loan in subsidized rate while the Citizen’s Investment Trust, Employees Provident Fund are also the likely investors for the project. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The federal government, provincial government and the local government will also invest in the semi-storage project which is expected to generate over 4.5 billion units of electricity annually. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Bank is expected to provide over US$ 13.1 million loan at subsidized rate for the project. The project is expected to commence within 2023 and will most likely be completed by 2030. The project requires 180 hectares of land and is said to displace a total of 25 households. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The visiting team included secretary at the Ministry of Energy, Water Resources and Irrigation Devendra Karki, Secretary at the Ministry of Finance Madhu Kumar Marasini, World Bank's vice chairperson for South Asia region Hartwig Schafer, World Bank's executive director Mohd Hassan among others. The team also inspected the site where the main physical structure and power production house would be built. --RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13753', 'image' => '20210923010717_upper arun.jpg', 'article_date' => '2021-09-23 13:06:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14007', 'article_category_id' => '1', 'title' => 'Government Claims it has Adequate Stock of Sugar for 3 Months ', 'sub_title' => '', 'summary' => 'September 23: The Department of Commerce, Supplies and Consumer Protection has assured that the government has adequate stock of sugar required for the upcoming festivals.', '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 Unicode MS","sans-serif"">September 23: The Department of Commerce, Supplies and Consumer Protection has assured that the government has adequate stock of sugar required for the upcoming festivals. The announcement was made amid concerns that the government has not approved purchase of sugar since the last eight months. </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 Unicode MS","sans-serif"">The department has stated that it has enough stock of sugar for three months. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice on Wednesday, the department urging the consumers not to be concerned about this matter as there is sufficient stock of sugar in the market. </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 Unicode MS","sans-serif"">"There is no reason for consumers to be concerned as process of importing sugar is regular and there is enough sugar in the market,” the statement said.</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 Unicode MS","sans-serif"">The department also urged the consumers not to stockpile sugar unnecessarily. </span></span><br /> <span style="font-size:14.0pt">Earlier, it was reported that the two state-owned companies – Salt Trading Corporation and Food Management and Trading Company Limited – that have been selling sugar at subsidized rate do not have enough stock of sugar for the festive season. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">This had raised concerns that the traders might increase the price of sugar at their will taking advantage of such situation.</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 Unicode MS","sans-serif"">However, the department has also cautioned businessmen against creating artificial shortage of sugar and has warned of action in line with the Consumer Protection Act, 2075 BS and Rules, 2076 BS if anyone is found guilty of being involved in such act. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13752', 'image' => '20210923123254_20210917104641_20210511045157_20201220120511_Sweet2.jpg', 'article_date' => '2021-09-23 12:32:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14006', 'article_category_id' => '1', 'title' => 'Farmers Unhappy with the Minimum Support Price of Rice fixed by the Government ', 'sub_title' => '', 'summary' => 'September 23: Farmers have expressed dissatisfaction over the minimum support price of paddy fixed by the government. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 23: Farmers have expressed dissatisfaction over the minimum support price of paddy fixed by the government. They argued that the minimum support price is too less compared to increase in price of chemical fertilizer, seeds, agricultural tools and equipment and the wages of the labourers. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock Development said in a statement that the minimum support price was fixed by the cabinet meeting held on September 14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the price of coarse paddy has been fixed at Rs 2,752 per quintal and medium variety at Rs 2,902 per quintal for 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:"Arial Unicode MS","sans-serif"">Although the new support price is more by Rs 17 per quintal than last year, the farmers are unhappy in the current context of inflation and price hike. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Last year, coarse paddy was priced at Rs 2,735 per quintal and medium variety paddy at Rs 2,885 per quintal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has been fixing the minimum support price of coarse and medium variety of paddy every year arguing that the entrepreneurs will buy paddy at arbitrary price if the price is not fixed on time. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the National Farmers Commission Dr Prem Dangal expressed dissatisfaction regarding the minimum support price fixed by the government arguing that the government should have taken into consideration the factors such as the increase in prices of fertilizer, seeds, agricultural equipment and labour charge while fixing the support price.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the farmers will have to bear loss due to the government’s decision which was taken without considering the price hike of basic necessities required for agriculture.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">“The government has already fixe the support price. Now it has to pay attention toward implementing the support price,” said Dr Dangal, adding, “The government must consider the investment made by the farmers while determining the support price in the future.”</span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13751', 'image' => '20210923105350_1632346780.jpg', 'article_date' => '2021-09-23 10:53:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14005', 'article_category_id' => '1', 'title' => 'Nepal’s Economy to Modestly Grow in FY2022', 'sub_title' => '', 'summary' => 'September 23: The Asian Development Bank (ADB) has project a modest growth in Nepal’s economy for the upcoming fiscal year owing to the vaccination drive initiated by the government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">September 23: The Asian Development Bank (ADB) has project a modest growth in Nepal’s economy for the upcoming fiscal year owing to the vaccination drive initiated by the government.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the Asian Development Outlook (ADO) 2021 Update, a flagship publication of the ADB, Nepal’s economy is anticipated to grow by 4.1 percent (at market prices) in fiscal year (FY) 2022, up from an estimated growth of 2.3 percent in FY2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">ADB’s Country Director for Nepal Arnaud Cauchois said in a statement that the growth will largely be supported by the ongoing vaccination campaign against COVID-19 as the national immunization plan remains key to Nepal’s economic recovery.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">“Downside risks include the uncertain trajectory of COVID-19, a possible surge in COVID-19 cases, and subsequent strict containment measures, which could reverse the gradual economic recovery in FY2021,” he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the report, growth in Nepal’s agriculture will likely be boosted by increased paddy plantation amid abundant rainfall this monsoon season. Industry output is expected to grow, thanks to a large increase in export volume and stronger domestic demand, as rollout of the national vaccination plan will reduce infection rates over time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The government’s fiscal policy for 2022 largely focuses on strengthening the nation’s health care system. Monetary policy will remain accommodative through a dedicated refinancing facility, concessional lending for priority projects and for affected businesses, the statement further said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">According to the report, growth in services will accelerate because of increased economic activities in the wholesale and retail trade, transport, and financial services along with the vaccine rollout nationwide. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">“International tourism arrivals, which declined by 80.8 percent in 2020, may gradually recover, as trekking routes and expeditions resume. Hotels and restaurants, travel, and tourism will likely take more time to recover to pre-pandemic level until the sustained containment of COVID-19.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The report says the country’s inflation will rise modestly to 5.2 percent in FY2022, up from the projected 3.6 percent in FY2021, due to higher global oil prices and a gradual recovery in domestic demand.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">Growth in non-oil imports will likely remain high in FY2022, as investments rise on the gradual revival of the economy. On the other hand, growth in oil imports may be slow, because an increase in hydroelectricity generation may partially offset a rise in fossil fuel consumption. Even with continued strong growth in exports and remittances, the current account deficit will remain high, at an estimated 5.0 percent of GDP, though down from 8.0 percent a year earlier, says the report.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">Other downside risks include natural hazards such as erratic monsoons and floods, which could reduce farm output and damage infrastructure. Heavy rainfall since mid-June 2021 has triggered landslides and floods and led to the loss of lives and livelihoods in some mountainous districts of Nepal. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">The report says fiscal spending by provincial and local governments can be improved if they address the persistent capacity deficiencies in investment planning, financial management, project readiness, procurement, and contract management.</span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/139441-nepal-01-01.jpg" style="height:576px; width:1024px" /></p> ', 'published' => true, 'created' => '2021-09-23', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13750', 'image' => '20210923101741_ccd-1477540727.jpg', 'article_date' => '2021-09-23 10:16:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14004', 'article_category_id' => '1', 'title' => 'Why Indian Embargo of 2015 Differs from Previous Ones?', 'sub_title' => '', 'summary' => '', 'content' => '<p><em>This file photo shows a human chain formed to protest the unofficial blockade imposed by India on Nepal in 2015. Photo: NBA Files</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Birat Anupam</span></span></strong><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: September 23 marks the sixth anniversary of 6-month-long Indian embargo starting from September 23, 2015. Indian blockades are not a new phenomenon in Nepal's living and institutional memories. If history is any indication, Nepal is prone to periodic Indian blockade just because of its land-locked nature and mainly due to India-dependent trade and transit status. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal faced Indian blockade in 1962, 1971, 1989 and 2015. The military blockade of 2005 is also mentionable. However, this blockade was mainly on military fronts where India ceased its treaty-driven mandatory military supplies to Nepal Army, which was officially called Royal Nepalese Army during those days. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">However, the Indian trade embargo of 2015 is different from all other periodic Indian embargoes. Here are the reasons. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Trade embargo against the promulgation of Nepal's constitution</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">For the first time in the Nepal's history of seven written constitutions, the Constitution of 2015 was the only one written by people’s representatives. The 601-member Constituent Assembly was sovereign to draft and promulgate Nepal's constitution. CA promulgated the historic constitution on 20 September 2015. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Foreign Secretary Subrahmanyam Jaishankar, now the Indian Foreign Minister, landed in Kathmandu on 18 September to persuade Nepal's leaders to delay constitution promulgation and include Indian inputs, Nepali leaders denied and promulgated the charter on the stated date of 20 September by overwhelmingly two-thirds majority of the Constituent Assembly. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Sushil Koirala, the then PM, led this historic constitutional consensus among Nepal's major political players to promulgate Nepal's historic constitution. In a recently unveiled political document in his party meeting, Chair of CPN (UML) and former PM KP sharma Oli said Jaishankar 'threatened' Nepali leaders to delay the constitution. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It did not take more than three days for Nepal to feel the Indian trade embargo. India, however, while reacting on the newly promulgated constitution of 2015, had hinted on possible embargo. It had issued an official statement that cautioned, ''We are concerned that the situation in several parts of the country bordering India continues to be violent.'' True to the cautionary call, India imposed trade embargo on Nepal. India said the protesters along India-Nepal borders were the reason for the cross-border trade and transport disruption. The fact was that even those peaceful border crossings like Kakarbhitta did not see much imports compared to normal days. Only occasional nonessential stuffs were allowed to enter via regulated peaceful border crossings. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">First Indian embargo in non-monarchial era </span></span></strong><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">All previous Indian embargoes imposed on Nepal happened during active monarchial system. For example, when Jawaharlal Nehru imposed embargo on Nepal in 1962 during the reign of King Mahendra. Nehru's daughter Indira Gandhi did the same in 1971 when the same King was ruling Nepal. In 1989, Indian PM was Rajeev Gandhi, the son of Indira Gandhi, and Nepal's King was Birendra. Likewise, in 2005 military embargo, Nepal's last King Gyanendra was directly ruling Nepal. The embargo of 2015 is the only economic blockade where there was no king at the helm of Nepal. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">No Chinese factor associated during embargo</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">In almost all embargoes in Nepal, Indian establishment has pinpointed Chinese factor for its action. For example, in 1962, India was 'not happy' as Nepal and China were working to construct Araniko Highway connecting Nepal's capital Kathmandu and China's autonomous province of Tibet. In 1971, Nepal removed India's wireless operator from Nepal's northern borders with China. In 1989, Nepal imported anti-aircraft guns from China. Even in 2005 military embargo against the then King Gyanendra's direct rule, the king was largely portrayed as pro-China by Indian establishment. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Dawn of Nepal's opening up with China in terms of TTA</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Despite having direct roadways connecting Nepal and China since 1967, Nepal never inked any Transit Trade Agreement (TTA). Interestingly, after Indian embargo of 2015, Nepal inked TTA with China with legal access to seven sea and dry ports of China. This was inked during state visit of KP Sharma Oli on 21 March 2016. Oli and his Chinese counterpart Li Keqiang inked the deal. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The TTA protocol was also signed during second tenure of KP Oli's premiership on 29 April 2019 during the state visit of Nepal's President Bidya Devi Bhandari to China in presence of her Chinese counterpart Xi Jinping. Nepal's Foreign Minister Pradeep Kumar Gyawali and China's Transport Minister Li Xiaopeng. TTA gave Nepal alternative avenues for its international trade and transit via Chinese seas and ports. This will help, say observers and experts, cope up possible Indian embargos in the future. </span></span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">India stood supportive after 2015 blockade for trade and transit</span></span></strong> <br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Indian officials essentially denied embargo on Nepal. However, at Rajya Sabha debate, Indian MPs pressed then External Affairs Minister Sushma Swaraj about embargo on Nepal. In that debate, on 7 December 2015, Swaraj indirectly confessed Indian embargo. She said, ''Even in times of Rajeev Gandhi, there was embargo on Nepal.'' </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">On positivity, India changed its track for better after 2015 embargo; it was ready to let Nepal use additional Indian ports. Previously, Nepal used to import/export via Haldia port of Kolkata only. After Oli's six-day state visit to India from February 19 to 24 of 2016, India agreed to give Nepal an access to the Visakhapatnam port of Andhra Pradesh of India. The business from that port began since October that year. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It speeded construction of 69-kilometer-long petroleum pipeline from Bihar to Nepal's Amlekhganj. A total of 36-kilometer portion of this pipeline falls within Nepal. Nepal's PM Oli and his Indian counterpart Narendra Modi virtually inaugurated this on 10 September 2019. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><em><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">(This article is a </span></span></em><em><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">special feature prepared by the state-owned national news agency RSS on sixth anniversary of India-imposed blockade)</span></span></em></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '13749', 'image' => '20210922041002_20151201011250_embargo.jpg', 'article_date' => '2021-09-22 16:08:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14003', 'article_category_id' => '1', 'title' => 'Changunarayan wins Title of World's Best 10 City on Open Data Practice ', 'sub_title' => '', 'summary' => 'September 22: Bhaktapur's Changunarayan Municipality has won the title of the world's 10th best municipality. ', 'content' => '<p><em>Changunarayan Temple of Changunarayan Municipality, Bhaktapur. Photo Courtesy: Oriental Architecture</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: Bhaktapur's Changunarayan Municipality has won the title of the world's 10th best municipality. The municipality has been rated as the best performer in the Open City Incubator programme run under the New York University School of Engineering of the US. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Changunarayan's Information Technology Officer Siddhant Neupane shared that the municipality was so far the first local level of Nepal to win such title. Neupane is also the first-ever participant to take part in the city incubator programme from the municipalities of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chungunarayan was selected as the 10th best cities of the world in the evaluation of data management practices and open data system, informed the municipality’s mayor Som Prasad Mishra. He further shared that Changunarayan's information technology officer Neupane participated in the programme on behalf of the municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mishra claimed that the municipality had attained the position for developing the first-of-its-kind open data platform in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The cities and municipalities that were selected in the incubator programme would get an opportunity to take part in a training to be delivered by prominent data expert in coming six months and prepare their data related activities and programme in line with international standards. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The announcement of the best municipalities was made at a virtual programme held in New York on Monday, Neupane shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Open Data Incubator Programme official commented that the thoughts and actions of Changunaryan, a municipality of a developing country like Nepal, has inspired all people working in this sector. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13748', 'image' => '20210922035232_changu-narayan_temple_BIG.jpg', 'article_date' => '2021-09-22 15:50:45', '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
