September 22: The Computer Association of Nepal (CAN) has said that the internet price in Nepal is likely to be raised owing to the price hike in the use of the utility poles and fibers of the Nepal Electricity…
September 22: The Computer Association of Nepal (CAN) has said that the internet price in Nepal is likely to be raised owing to the price hike in the use of the utility poles and fibers of the Nepal Electricity…
September 22: Foreign trade through Birgunj customs has increased by two-thirds in the last five…
September 22: A study conducted by Nepal Rastra Bank (NRB) shows that Lumbini Province has ample potential for agriculture, industry, and tourism development.…
September 22: A probe committee formed to investigate the allegations against Bhishma Raj Dhungana, chairperson of the Securities Board of Nepal (SEBON), has held him accountable for abuse of authority while purchasing shares of Sarvottam…
September 22: The Supreme Court (SC) has denied issuing an interim order in a writ petition filed against the appointment of Kulman Ghising as the executive director of Nepal Electricity Authority…
September 21: Preparations are underway to resume paragliding in Pokhara after a gap of five months.…
September 21: The Industry, Commerce, Labour and Consumer Interest Committee of the House of Representatives has shown concern over the problems seen in the Gajendra Narayan Singh Industrial Zone at Rupani Rural Municipality of Saptari…
September 21: The Appropriation Bill, 2078 BS has been tabled in the National Assembly today (September 21) a day after it was passed by the House of Representatives with majority…
September 21: Mobile banking, which is considered as a convenient medium for cashless transactions, has been growing exponentially.…
September 21: The government's decision to amend the Income Tax Act has received…
September 21: Reconstruction of the Melamchi Water Supply Project, a national pride project, which was damaged by the catastrophic flood and landslides on June 15, has been started…
September 20: The Asian Development Bank (ADB) has approved a US$60 million loan as additional support for the ongoing Electricity Grid Modernization…
September 20: Banks and Financial Institutions (BFIs) have decided to make new banknotes available to the general public for the upcoming Dashain festival starting from today (September…
September 20: A session of the House of Representatives (HoR) has passed the Appropriation Bill, 2078 BS with majority votes.…
September 20: The Supreme Court has issued a show cause notice against the government for suspending Bhishma Raj Dhungana from the post of chairman of the Securities Board of Nepal…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: The Computer Association of Nepal (CAN) has said that the internet price in Nepal is likely to be raised owing to the price hike in the use of the utility poles and fibers of the Nepal Electricity Authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Tuesday, CAN said that the internet service providers (IPS) are going to increase the tariff of internet after the NEA increased the rent it was collecting from the IPS for using their poles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“It is unfortunate that the price of internet is likely to go up by Rs 150 to Rs 300 per consumer due to the increase in cost of the physical infrastructures. Also it is a matter of concern that despite the suggestions from the CAN and the internet service providers to review the tax rate to make internet affordable and accessible to one and all, the internet service providers were considering hike in the internet prices,” read the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet started in Nepal in 1995, according to a paper published by the International Telecommunication Union in 2000. The CAN, in its statement, cautioned that the cable internet’s prices will go up staggeringly if the tariff for the utility poles were not revised. According to CAN, of the total internet users, 93 per cent were using cable internet in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“If the tariff for the poles were determined per kilometer, it would not be practical for internet service providers, large number of consumers and ‘Digital Nepal’ campaign,” the statement added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA, on the other hand, has warned to cut off internet wires stuck in the poles, if the internet service provider companies would not clear the outstanding dues by October 1 this year. – RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13747', 'image' => '20210922033830_20210730071331_20210526081934_20190922030926_aaaa (1).jpg', 'article_date' => '2021-09-22 15:36:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14001', 'article_category_id' => '1', 'title' => 'Foreign Trade from Birgunj Customs Jumps 68 Percent in Five Years', 'sub_title' => '', 'summary' => 'September 22: Foreign trade through Birgunj customs has increased by two-thirds in the last five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 22: Foreign trade through Birgunj customs has increased by two-thirds in the last five years. Birgunj customs is considered as the main gateway in terms of import and export of goods. According to the Birgunj Customs Office, foreign trade has increased by 68 percent in the last fiscal year 2077/78 as compared to the fiscal year 2073/74.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer Harihar Poudel said that the size of trade from Birgunj Customs has increased compared to the past years. He said that the foreign trade has gone up due to the increase in price annually.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel said that the volume of foreign trade has also increased in recent years as the average commodity price has risen by an average of 10 percent. In the last fiscal year 2077/78, goods worth Rs 313.24 billion have been imported and exported from Birgunj customs. This amount was Rs 185.42 billion in FY 2073/74.</span></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 data shows that the volume of export has also increased along with the import from Birgunj. Last year, amount of export increased four times compared to Rs 13.5 billion five years ago. According to the customs data, goods worth more than Rs 52 billion were exported through this checkpoint in the fiscal year 2077/78.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Fuel, vehicles and industrial raw materials, electrical appliances are imported through this checkpoint. The export products include refined edible oil, juice, jam, clothes, shoes and other items.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Last year, refined soybean oil and sunflower oil were exported in high quantities. Earlier, exporters focused on soybean and sunflower oil after India imposed a ban on refined palm oil. According to the customs office, the export of palm oil has resumed after India eased the ban.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel says that actual trade has not increased as expected from the Birgunj checkpoint despite its prime location and infrastructure. “The trade is seen relatively high due to rising consumer culture and rising commodity prices. However, the expected trade from this checkpoint has not taken place yet,” he told New Business Age. He further said that trade had also declined in the past two fiscal years due to the COVID-19 pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Except for the fiscal year 2076/77, trade seems to have increased comparatively in all the other years.</span></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's policy to discourage import that year and the decline in global trade due to the pandemic had also affected Nepal's foreign trade.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">During the Madhesh movement of 2072, the importers of Birgunj had gone to Bhairahawa and Biratnagar. Former president of the Birgunj Chamber of Commerce and Industry Pradip Kumar Kedia says that the businessmen who changed their checkpoints due to the strike and blockade for six months have not yet returned back to old ways. “Entrepreneurs have already built their infrastructure there after moving to the other side and it is not easy to leave it,” said Kedia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel also said that the importers of vehicles and Indian readymade garments went to Bhairahawa from Birgunj. He also informed that the overseas trade entering from Birgunj is concentrated towards Biratnagar. Moreover, he said that they are focusing on reducing time and expenses by facilitating foreign trade through the Birgunj checkpoint.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“We are trying to reduce cost and time required for import and export by creating integrated checkpoint in Birgunj along with the Indian side. The customs administration is making continuous efforts to reduce the cost of trade through Birgunj checkpoint,” 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"">According to Kedia, it is natural for importers to go through the checkpoints which make trade easier.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13746', 'image' => '20210922024351_1627860368.Clipboard07.jpg', 'article_date' => '2021-09-22 14:42:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14000', 'article_category_id' => '1', 'title' => 'NRB Study Shows Lumbini has High Potential in Agriculture, Tourism, and Industries ', 'sub_title' => '', 'summary' => 'September 22: A study conducted by Nepal Rastra Bank (NRB) shows that Lumbini Province has ample potential for agriculture, industry, and tourism development. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 22: A study conducted by Nepal Rastra Bank (NRB) shows that Lumbini Province has ample potential for agriculture, industry, and tourism development. Due to the arable land, industrial area, and tourist sites, the province has a high potential for the development of these three areas.</span></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 finding is based on a study on economic activities in Lumbini province. The report released on September 21 includes data from the first six months of last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB spokesperson Dev Kumar Dhakal said that a study has been conducted on the overall economic activities of Lumbini. “We had studied the overall economic activities of Lumbini Province. We had also conducted necessary studies in the field through which we have also identified the potential and challenges of regional business in the entire Lumbini Province,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The hill and terai areas of Lumbini Province are fit for the production of most of the agricultural produce.</span></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 districts of Inner Madhes and Terai including Dang, Banke, Bardiya, Kapilvastu, and Rupandehi have fertile land for agriculture. In addition, there are many valleys and fields in the hill districts. Studies have shown that there is a high potential for agro-business development. The report states that there is ample potential for cash crop production if reasonable irrigation facilities can be provided in the state.</span></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 study has shown that the Dang district can be developed as a pocket area of oilseeds while Rolpa, Rukum, and Pyuthan districts as seed production centers. The report also states that there is ample potential for further expansion of cash crops such as coffee and ginger in Palpa, Gulmi, Arghakhanchi, and Pyuthan districts of the state. Apart from this, there is a high potential for the production of sugarcane, vegetables, and spices.</span></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 report also mentions the possibility of animal husbandry, fishery, beekeeping, poultry, and ostrich farming.</span></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 study has also shown that there is a high potential for tourism development in Lumbini. Lumbini, the birthplace of Gautam Buddha, is a world-famous tourist destination and an important pilgrimage site for Buddhists worldwide. There are many religious and cultural sites, including Swargadwari, a Hindu shrine, and Supadeurali in Arghakhanchi. In addition, due to the specific cultures of Tharu, Magar, Awadh, Muslim, and other communities and the famous national parks in Banke and Bardiya, there is a high potential for tourism development, the report further states.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">There is also a possibility of attracting internal and external tourists by developing well-equipped hill stations in the hill districts of the state. Apart from this, it is mentioned in the report that more tourists can be attracted by systematically developing homestays. </span></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 study has also shown that the rapidly expanding cities like Butwal, Bhairahawa, Ghorahi, Tulsipur, Nepalgunj, and Kohalpur can be developed and expanded as the main centers of tourism, industry, trade, banking, capital market, education, and health. The report states that these potential metros could be the carriers of economic prosperity for the entire state. </span></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 study has shown that there is potential for industrial development in Lumbini as the province is connected to the Indian border, has large customs checkpoints like Sunauli, and can easily import raw materials and export manufactured goods.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director of NRB Dr. Prakash Shrestha said that there is high potential for agriculture, tourism, and industrial development in Lumbini. "Agriculture and tourism have high potential in Lumbini due to its geographical location," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The study has shown that there are possibilities as well as challenges in the development of agriculture, tourism, and industry. Lately, the problem of erosion of agricultural land has been increasing due to unmanaged land development and internal migration in the state.</span></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 report also mentions problems relating to encroachment of public lands and forest areas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">There is a problem of lack of adequate agricultural labor in hill districts and barren land in some areas. In addition, due to the lack of proper infrastructure and market, even the agricultural products produced in the state have not been able to get a fair price. Moreover, young people are not attracted towards agriculture. In such case, there will be more challenges in the development of agriculture, the report states.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Due to the inability to create adequate employment, the number of youths going abroad is significant. The report states that the task of involving the youth in productive, entrepreneurial, and creative work is full of challenges.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong> </strong></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13745', 'image' => '20210922125848_20210324105002_20190113122644_aaaa.jpg', 'article_date' => '2021-09-22 12:57:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13999', 'article_category_id' => '1', 'title' => 'Probe Committee finds SEBON Chair’s Involvement in Insider Trading', 'sub_title' => '', 'summary' => 'September 22: A probe committee formed to investigate the allegations against Bhishma Raj Dhungana, chairperson of the Securities Board of Nepal (SEBON), has held him accountable for abuse of authority while purchasing shares of Sarvottam Cement.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">September 22: A probe committee formed to investigate the allegations against Bhishma Raj Dhungana, chairperson of the Securities Board of Nepal (SEBON), has held him accountable for abuse of authority while purchasing shares of Sarvottam Cement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Former High Court Judge Ananta Raj Dumre, who led the committee, handed over the investigation report to Finance Minister Janardan Sharma at a program organized at the Ministry of Finance on Tuesday (September 21). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to a source close to the Finance Minister, SEBON Chair Dhungana had provided money to his daughter to purchase shares while she was abroad. The report has concluded that he was actively involved in the purchase of shares. Upon receiving the report, Minister Sharma informed that the government would make necessary steps after studying the report. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Sarbottam Cement's shares were also found to have been bought by the wife of Chandra Singh Saud, former CEO of Nepal Stock Exchange (NEPSE). After the issue came to light, Saud resigned from his post to facilitate investigation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, the Ministry of Finance had formed an internal committee to investigate the matter. It had also concluded Dhungana's involvement in purchase of shares in his daughter's name by ignoring his responsibilities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The report states that Dhungana had deposited money in the account of his daughter Rebika Dhungana maintained at Laxmi Bank. Within three days, Rebika made payment to Shikha Agrawal, shareholder of Sarvottam Cement, to buy the shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A high-level source at the Ministry of Finance said that Bhishmaraj Dhungana's daughter had deposited Rs 2.5 million in Agrawal's account. According to the report, Bhishma Raj Dhungana deposited Rs 2.5 million from his account 02959050250610 to his daughter's account. The transaction took place while Rebika was abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A probe committee was formed on September 1 to investigate Dhungana's alleged involvement in insider trading going against the code of conduct and hampering SEBON’s welfare and development of the capital market. The committee was asked to submit its report within fifteen days.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13744', 'image' => '20210922115056_20160922121316_sebon.jpg', 'article_date' => '2021-09-22 11:50:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13998', 'article_category_id' => '1', 'title' => 'Supreme Court Denies Interim Order against Appointment of Kulman Ghising', 'sub_title' => '', 'summary' => 'September 22: The Supreme Court (SC) has denied issuing an interim order in a writ petition filed against the appointment of Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: The Supreme Court (SC) has denied issuing an interim order in a writ petition filed against the appointment of Kulman Ghising as the executive director of Nepal Electricity Authority (NEA). </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"">With the apex court’s latest decision, Ghising can now continue his job at the NEA. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Chief Justice Cholendra Shumsher Rana ordered the concerned parties to furnish the details regarding the appointment but refused to issue an interim order or a show cause notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Supreme Court noted that the petitioner Hitendra Dev Shakya has been appointed as a specialist member in the Water and Energy Commission as per the decision of the Council of Ministers to give him the post of deputy executive.</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"">“From the current status, the petitioner does not seem to have been removed from his post thus an interim order is not deemed necessary,” the SC’s statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shakya had lodged the writ petition at the Supreme Court on August challenging the government’s decision to appoint Ghising as the Executive Director of NEA. --RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13743', 'image' => '20210922113201_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-09-22 11:31:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13997', 'article_category_id' => '1', 'title' => 'Paragliding to Resume in Pokhara Soon: Operators', 'sub_title' => '', 'summary' => 'September 21: Preparations are underway to resume paragliding in Pokhara after a gap of five months. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 21: Preparations are underway to resume paragliding in Pokhara after a gap of five months. According to Nepal Airsports Association (NAW) chair Krishna Bhandari, they have decided to resume paragliding following the government’s decision to lift the prohibitory order against COVID -19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have already organised a paragliding safety and awareness programme to resume the service. Similarly, the condition of paragliding devices has been checked. All the paragliding companies have successfully conducted test flights before resuming the flights and the resumption is likely in a couple of days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paragliding pilots and paragliding entrepreneurs attended a day-long training. </span><span style="font-family:"Arial Unicode MS","sans-serif"">The programme was held in the presence of around 200 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara Airport's Chief Bikram Raj Gautam, Civil Aviation Authority of Nepal (CAAN) Flight Safety Standard Department chief Raju Shrestha, senior manager Devendra Pandey and officer Mahesh Aryal were there to facilitate the session that was focused on the safety measures and awareness of paragliding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paragliding known as one of the forms of adventurous tourism had commercially started in Pokhara in 1999. At present, there are 60 paragliding companies in Pokhara and the number of pilots is 350 including around 15 foreigners. This sector has an investment of around Rs 1 billion while 1,000 people are directly employed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The paragliding companies had offered 50-60 percent discount after the first wave of COVID-19 and subsequently lockdown and the policy had attracted quite a good number of domestic tourists in Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> After the significant discount the service was available at Rs 2,500 to Rs 3000 against the previous charge of Rs 5,000 to 8,000. The operators have yet to decide new fare for the service, NAW general secretary Balaram Acharya said. -- RSS </span></span></span><br /> <img alt="" src="/app/webroot/userfiles/images/20180401020702__MG_0264.jpg" style="height:548px; width:800px" /></p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13742', 'image' => '20210921050635_20190306024457_paraglading pic.jpg', 'article_date' => '2021-09-21 17:05:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13996', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Shows Concern over Problems of Industrial Area ', 'sub_title' => '', 'summary' => 'September 21: The Industry, Commerce, Labour and Consumer Interest Committee of the House of Representatives has shown concern over the problems seen in the Gajendra Narayan Singh Industrial Zone at Rupani Rural Municipality of Saptari district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 21:</span><span style="font-family:"Arial Unicode MS","sans-serif""> The Industry, Commerce, Labour and Consumer Interest Committee of the House of Representatives has shown concern over the problems seen in the Gajendra Narayan Singh Industrial Zone at Rupani Rural Municipality of Saptari district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team led by the committee president Bimal Shreevastav inspected the industrial area on Monday, and interacted with the management, people's representatives and the civic society in connection with the issues related to the industrial estate. The team included Shreevastav, Sarita Kumari Giri, Pradip Saha and Sujata Pariyar. It will give suggestions to the government on the issues concerning the industrial zone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the interaction programme, chief of the Industrial Zone Management Office Deepak Raj Acharya said the industries have not flourished since the Department of Industries has not taken any policy-level decision about the industrial estate yet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"However, the industrial zone has started to transform since some days thanks to the cooperation from the locals, the civil society, political parties and journalists," he said, adding that the trend of setting up new industries in the industrial zone is gradually increasing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Milan Dairy, Mahalaxmi Paints, Usha Water Processing Industry and Koshi Polymers Industry are operating inside the industrial zone at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The problem of security and drainage is as it was before. But the problem of electricity and water supply has been addressed," Acharya said. A water tank with the capacity of 150,000 litres has been constructed in the industrial zone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rs 50 million was allocated for the development of the industrial estate during the tenure of then Minister for Industry, Matrika Prasad Yadav. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The work of plotting the land has been completed for expansion of 14 new industries and the process of operating new industries has been started. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the roads inside the industrial zone have become dilapidated. The industrial zone was established 34 years ago. The roofs and other structures inside the area need repair, which requires Rs 133.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya urged the parliamentary committee to take initiation for allocation of the required budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the industrial zone is facing the problem of inundation after the Province no 2 government started constructing physical infrastructures close to it. The province government has constructed the Martyrs Memorial adjacent to the industrial zone which has blocked the drainage system. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13741', 'image' => '20210921045622_Nepalese_Constituent_Assembly_Building.jpg', 'article_date' => '2021-09-21 16:55:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13995', 'article_category_id' => '1', 'title' => 'Appropriation Bill Tabled in National Assembly ', 'sub_title' => '', 'summary' => 'September 21: The Appropriation Bill, 2078 BS has been tabled in the National Assembly today (September 21) a day after it was passed by the House of Representatives with majority votes.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">September 21: The Appropriation Bill, 2078 BS has been tabled in the National Assembly today (September 21) a day after it was passed by the House of Representatives with majority votes. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Secretary of the Parliament Secretariat Rajendra Phuyal reportedly tabled the bill before the NA session on September 21.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Once the bill gets passed from the both Houses, it will be presented to President Bidya Devi Bhandari for authentication. It shall come into effect once the Head-of-the-State authenticates it.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">This will pave way for the government to spend the new budget, as it had been unable to spend the budget since September 16.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government is preparing to resolve the issue as soon as possible as it has been facing legal hurdles to spend the budget. In this context, the Appropriation Bill has been presented in parliament to replace the budget brought through an ordinance by the previous budget. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Amid UML's obstruction, Finance Minister Janardan Sharma had tabled the Finance Bill, Appropriation Bill and National Debt Raising Bill on September 11. The government had amended the previous government's budget, scrapped some projects and reduced the size of the budget as well. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government had reduced the budget by Rs 14.74 billion and presented a budget of Rs 1.63 trillion through the replacement bill. The government had also changed some tax rates and included some new social security programs.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px"><strong>How was the Appropriation Bill passed?</strong></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Though the UML lawmakers were chanting slogans, Speaker Agni Prasad Sapkota allowed a discussion on the replacement bill, however a long discussion was not held. The meeting was focused only on passing the Appropriation Bill.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">In the past, a month-long clause-wise deliberations used to be done on the Appropriation Bill, but due to opposition's obstruction, the Speaker moved the discussions forward in a fast track way. The Speaker had given twelve minutes to Member of Parliament Prem Suwal representing Nepal Workers and Peasants Party to express his views.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px"> "The Appropriation Bill used to be discussed in the parliament for one month. It has now been given only twelve minutes which shows the parliament is not accountable to the country and the people," said Suwal. He proposed to reduce the expenditure of various ministries. The proposal was rejected by a majority of MPs and the Speaker announced that the Appropriation Bill had been passed.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Suwal had also sought clarification from the Finance Minister on issues like the Kathmandu-Terai Fast Track. Finance Minister Sharma had answered Suwal's question in a simple manner. Then the Speaker Sapkota informed that the clause-wise deliberations on the Appropriation Bill was over. The same was the case with the Fiscal Bill.</span></span></p> <p> </p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><strong><span style="font-size:14.0pt">Government won't be able to spend immediately</span></strong></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Even though the budget has been passed, the government will not be able to spend immediately. The government can spend only after the bill is passed by the National Assembly and is authenticated by the President. Legally, the bill received from the House of Representatives should be sent to the House of Representatives within 15 days to the National Assembly including suggestions. Then the bill is sent to the President for authentication.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Today’s meeting of the National Assembly is likely to pass the Appropriation Bill sent by the House of Representatives. After that, it will take at least 2-3 days to complete the process of authentication by the President. Government officials are confident that the budget will be implemented as the Appropriation Bill has been passed.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Earlier, the government was in a difficult position after it became unable to pass the bill to replace the budget issued through ordinance by the previous government. The government is facing a budget holiday since September 15 due to the failure to pass the replacement bill. And almost all the government spending has been stalled.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Finance Minister Janardan Sharma said that the budget was passed amidst obstruction as extending the current situation would lead to a financial crisis. "We are continuing talks and negotiation with the opposition, but if the budget is withheld for a long time, everything will come to a standstill, so it had to be taken forward," he said. </span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">He also claimed that none of the plans introduced by then Finance Minister Bishnu Poudel had been removed but the new budget aims to increase volume of revenue collection.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13740', 'image' => '20210921031526_20210518051249_1621292862.Clipboard09 2.jpg', 'article_date' => '2021-09-21 15:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13994', 'article_category_id' => '1', 'title' => 'Mobile Banking Observes Exponential Growth as User Base Reaches 14 million', 'sub_title' => '', 'summary' => 'September 21: Mobile banking, which is considered as a convenient medium for cashless transactions, has been growing exponentially. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 21: Mobile banking, which is considered as a convenient medium for cashless transactions, has been growing exponentially. The number of mobile banking users has increased significantly during recent times, according to a report published by the Nepal Rastra Bank (NRB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the Nepal Rastra Bank, the number of mobile banking users by the end Fiscal Year 2020/21 was 1,41,94,839. The number of mobile banking users was just 1,13,60,000 in Fiscal Year 2019/20. It means that the number of mobile banking users increased by 26 percent in the last year alone.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Lately, the central bank and other financial institutions have been emphasizing on cashless transactions. For this purpose, mobile banking has been deemed as an appropriate medium. The features of mobile banking include, deposition of money into a different bank account, payment of water, electricity, internet bills, mobile recharge, booking of airline ticket, payment of insurance amount and many more. Mobile banking also offers the facility of payment via QR code.</span></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 Rastra Bank has revealed that the number of mobile banking users has reached more than that of the debit card (ATM) users. By last June, the number of ATM card users was 88,39,855, which is much lower than the number of mobile banking users.</span></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 usage of ATM cards in Nepal started in 1994 AD (2050/51 BS). But its usage couldn’t expand further for like 27/28 years. While on the other hand, the mobile banking services have turned the tables within the few years of introduction. The initial practice of mobile banking was observed in Nepal in 2004 AD.</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td colspan="2" style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Number of Mobile Banking Users</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2075</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">5086069</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2076</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">8347187</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2077</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">11306797</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2078</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">14194839</span></span></span></p> </td> </tr> <tr> <td colspan="2" style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Source: Nepal Rastra Bank</span></strong></span></span></p> </td> </tr> </tbody> </table> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </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 Chief of NRB’s Payment System Department, Bhuvan Kandel said that the number of mobile banking users has increased lately. He also said that the usage is still on the rise.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“Mobile banking is very easy as compared to other technologies in terms of electronic transactions. Due to this reason, its usage is expanding and being used extensively,” he said, adding, “As a whole, we feel that mobile banking has made a huge contribution to e-commerce.”</span></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 impact of the Covid-19 pandemic has intensified the usage of mobile banking, according to the NRB.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Kandel says that the attraction towards mobile banking has increased due to the availability of many services. While promoting electronic transactions, banks have not been promoting ATMs much lately. Experts say that the impact of mobile banking has deterred bank customers from using ATM cards. Banks say that ATM technology is outdated now.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a country with a geographical diversity like Nepal, it is not possible to expand ATMs everywhere. The customers have to walk for hours to reach the ATM. Therefore, NRB and bank officials say that mobile banking is now a suitable medium for business. Kandel says that after a certain period of time, technology like mobile banking could gradually replace cash transactions.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13739', 'image' => '20210921021328_Mobile banking.jpg', 'article_date' => '2021-09-21 14:12:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13993', 'article_category_id' => '1', 'title' => 'Government's Proposal not to Seek Sources of Income for Investment Draws Flak ', 'sub_title' => '', 'summary' => 'September 21: The government's decision to amend the Income Tax Act has received backlash.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 21: The government's decision to amend the Income Tax Act has received backlash.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In the proposal to amend the Income Tax Act, 2058 BS, the government has made a provision to include a clause that states ‘source of income shall not be reviewed for investment' while investing in various infrastructures. Although the government has defended such move stating that it wants to attract investment, stakeholders have pointed out the possibility of money laundering if the law gets amended.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Transparency International Nepal has protested stating that the government is amending the Income Tax Act to legalize illegal money.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Padmini Pradhangana, chairperson of the watchdog, if the proposal is endorsed to help legalize black money hidden by high-profile individuals such as politicians, civil servants, and businesspersons, it will promote corruption, increase tax fraud, and discourage regular taxpayers. This act goes against the spirit of Nepal's constitution, laws, and the international commitment against corruption, shared Pradhananga.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a statement issued on September 20, Transparency International Nepal called on the coalition government to withdraw the proposal immediately.</span></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 government has defended the move saying that it will not allow investment of illegal money.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Finance, by amending Section 11C of the Income Tax Act, 2058 BS, arrangements are being made to ensure that the source of income of the investment made in infrastructure development projects and industries of the national importance will not be sought till end of 2080 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">A statement issued by the Ministry of Finance on Monday said, "As per the law, action will be taken against money laundering, terrorist activities, corruption or any other criminal offense.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Finance Minister Janardan Sharma, the government is fully committed to curbing money laundering and financial investment in terrorist activities and implementing national laws and international commitments on corruption control.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13738', 'image' => '20210921125303_images.jpg', 'article_date' => '2021-09-21 12:47:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13992', 'article_category_id' => '1', 'title' => 'Government Starts Reconstruction of Melamchi Water Supply Project', 'sub_title' => '', 'summary' => 'September 21: Reconstruction of the Melamchi Water Supply Project, a national pride project, which was damaged by the catastrophic flood and landslides on June 15, has been started .', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">September 21: Reconstruction of the Melamchi Water Supply Project, a national pride project, which was damaged by the catastrophic flood and landslides on June 15, has been started after the government released Rs 1 billion for the reconstruction in the first phase.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Spokesperson of the Melamchi Water Supply Development Board Rajendra Prasad Panta said that the reconstruction works of the project has been started after discussions with the concerned agencies. The government has expressed commitment to provide the required amount for the reconstruction. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government has already provided Rs 1 billion to the committee with instructions to move ahead with the reconstruction in order to resume water supply to the Kathmandu Valley as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The board has demanded Rs 2 billion to rebuild the project and resume water supply. Panta informed that preparations are underway to distribute water of Melamchi river in Kathmandu Valley again by mid-April next year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government is preparing to hand over the responsibility of the project's headworks to the Nepalese Army. Project Chief Basudev Poudel said that discussions are underway to hand over the responsibility of opening 8 out of 22 km of road track from Melamchi Bazar to the headworks area to the Nepalese Army. “If it is given to a construction company, it will not be possible to open the track even in a year,” he said, “We will immediately inform the government and take a decision.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The construction entrepreneurs who have been constructing the headworks say that they are ready to supply construction materials and large machinery to Ambathan as soon as the water level of Melamchi river recedes. “The project has not been severely damaged,” said Poudel, adding, “We will immediately start the road construction work in coordination with various agencies.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to project chief Poudel, the latest flood washed away a section of 8-km road being constructed in Kieul area of Helambu, casting doubt on timely completion of the reconstruction works. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">An engineering camp and security post near the source of the river were inundated by the recent floods which also killed a Chinese and two Indians of the contractor company involved in the construction of the project. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13737', 'image' => '20210921114700_20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-09-21 11:45:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13990', 'article_category_id' => '1', 'title' => 'ADB Approves Power Project Loan to Nepal', 'sub_title' => '', 'summary' => 'September 20: The Asian Development Bank (ADB) has approved a US$60 million loan as additional support for the ongoing Electricity Grid Modernization Project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">September 20: The Asian Development Bank (ADB) has approved a US$60 million loan as additional support for the ongoing Electricity Grid Modernization Project that is upgrading power transmission and distribution systems in 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"">According to the ADB, the ongoing project, which was approved in November 2020, is automating 34 existing grid substations across Nepal, completing the installation of smart meters in the Kathmandu Valley, upgrading 144 kilometers (km) and constructing 113 km of transmission lines, and establishing an electricity distribution system command and control center.</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 additional financing will scale up ADB’s support to provide reliable, efficient, and sustainable electricity supply in Nepal,” ADB’s Principal Energy Specialist for South Asia Jiwan Acharya said in a statement issued by the bank. “This will provide additional investments to expand, strengthen, and modernize the transmission capacity and distribution networks so the country can reach its electricity consumption target of 700 kilowatt hours per capita by 2026.”</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 ADB, the increased funding will help construct 16 kilometers of 132-kilovolt transmission lines from Nepalgunj to Kohalpur and from Chovar to Lagankhel in order to expand the scope of the original project. It will introduce an additional 477 megavolt-amperes of substation capacity through the construction of substations in Dumkibas, Lagankhel, Mulpani, and Nepalgunj, the statement 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"">An enterprise resource planning and revenue management system will also be implemented to improve supply and system security and strengthen institutional capacity, ADB further said.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13736', 'image' => '20210920031504_20200430022205_asian-development-bank-ru.jpg', 'article_date' => '2021-09-20 15:14:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13991', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank Starts Exchanging New Banknotes for Dashain Festival', 'sub_title' => '', 'summary' => 'September 20: Banks and Financial Institutions (BFIs) have decided to make new banknotes available to the general public for the upcoming Dashain festival starting from today (September 20).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">September 20: Banks and Financial Institutions (BFIs) have decided to make new banknotes available to the general public for the upcoming Dashain festival starting from today (September 20).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">New notes have special importance during the Dashain festival. Therefore, Nepal Rastra Bank has informed that arrangements have been made for the distribution of new banknotes. According to the central bank's note management department, new banknote exchange facility has been provided in the Kathmandu Valley from Monday via designated branch offices of licensed commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">A circular issued by the central bank says that new notes can be exchanged at the nearest branch office specified by the commercial bank. Considering the risk of coronavirus infection, NRB has requested to issue the banknotes by adopting proper safety protocols against coronavirus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It has also been mentioned in the circykar that the notes can be exchanged by visiting the provincial office of Nepal Rastra Bank outside the Kathmandu Valley or the nearest branch office specified by the commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The central bank has decided to distribute banknotes of denominations of Rs 5, Rs 10, Rs 20, Rs 50 and Rs 100 amounting up to Rs 15 billion. In total, the central bank is preparing to distribute new notes worth Rs 35 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Arrangements have been made to distribute the new notes through 27 commercial banks and their branch offices. Such arrangements have been made realizing the possibility of a long queue at the central bank office for new notes.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13735', 'image' => '20210920031629_1632104498.new note.jpg', 'article_date' => '2021-09-20 15:15:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13989', 'article_category_id' => '1', 'title' => ' HoR endorses Appropriation Bill with Majority Votes ', 'sub_title' => '', 'summary' => 'September 20: A session of the House of Representatives (HoR) has passed the Appropriation Bill, 2078 BS with majority votes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 20: A session of the House of Representatives (HoR) has passed the Appropriation Bill, 2078 BS with majority votes. The lower house meeting on Monday (September 20) passed the proposal tabled by Finance Minister Janardan Sharma seeking the endorsement of the Bill despite obstructions from the main opposition party CPN (UML). </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"">Responding to the queries raised by lawmakers during the deliberation, Finance Minister Janardan Sharma said that the incumbent government has revised only three percent of the budget introduced by the erstwhile government headed by KP Sharma Oli. He said that the government has given top priority to people’s aspirations while amending the budget.</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"">Speaker Agni Prasad Sapkota announced that the budget has been endorsed by majority votes. This has opened door for the government to spend the budget. The government was observing budget holiday since last Wednesday as the bill could not be endorsed earlier. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma had presented a budget of Rs 1.63 trillion through a replacement bill on September 10.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Lower House meeting also approved two other bills on Monday. The meeting approved the Finance Bill, 2078 and the Bill to Mobilize Internal Loans, 2078, proposed by Finance Minister Janardan Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker Agni Prasad Sapkota has fixed September 23 for the clause-wise deliberations on the Finance Bill 2078. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13734', 'image' => '20210920025511_1632119507.janardan-sarma_mantri.jpg', 'article_date' => '2021-09-20 14:54:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13988', 'article_category_id' => '1', 'title' => 'Supreme Court Issues Show Cause Notice to the Government for Firing SEBON’s Chairman', 'sub_title' => '', 'summary' => 'September 20: The Supreme Court has issued a show cause notice against the government for suspending Bhishma Raj Dhungana from the post of chairman of the Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 20: The Supreme Court has issued a show cause notice against the government for suspending Bhishma Raj Dhungana from the post of chairman of the Securities Board of Nepal (SEBON).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana had filed a writ petition at the Supreme Court on September 8 against his suspension, challenging the Office of the Prime Minister and the Council of Ministers (OPMCM).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hearing on his writ, a single bench of Supreme Court Justice Kumar Regmi issued a show cause notice in the name 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"">The Supreme Court has called on both sides to discuss about the issue. A single bench of Justice Regmi has directed the OPMCM to submit written clarification for the suspension of Dhungana by September 21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana courted controversy after it was revealed that his daughter Rebika Dhungana had bought the shares of Sarbottam Cement in the process of public issuance of securities through book building method, which according to the government is now allowed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Following an internal investigation into the issue by a probe committee formed under the Ministry of Finance, a meeting of Council of Ministers on September 1 formed a three-member commission of inquiry under the chairmanship of former high court judge Anantraj Dumre to investigate into the matter. Expert Member Narayan Prasad Poudel and Arjun Kumar Khadka, Joint Secretary of the Law Commission are the members of the panel.</span></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 has been revealed that Dhungana had acquired 10,000 shares of Sarbottam Cement in the name of his own daughter. The Ministry of Finance had sought for an explanation from SEBON after it became public that the shares were taken in the name of his daughter Rebika Dhungana who is living in the US.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana, on the other hand, has been saying that it is not justifiable for the government to form an investigation committee and suspend him on the issue of shares bought by his married daughter. He argues that the government's suspension is malicious and has gone to court seeking legal help.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Finance Committee of Parliament had also instructed the government to investigate the matter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a similar case, the CEO of Nepal Stock Exchange (NEPSE) had resigned from his post to facilitate investigation. However, Dhungana decided to knock the door of the court instead of resigning. </span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13733', 'image' => '20210920020934_20210224103248_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-09-20 14:08:50', '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:"Arial Unicode MS","sans-serif"">September 22: The Computer Association of Nepal (CAN) has said that the internet price in Nepal is likely to be raised owing to the price hike in the use of the utility poles and fibers of the Nepal Electricity Authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Tuesday, CAN said that the internet service providers (IPS) are going to increase the tariff of internet after the NEA increased the rent it was collecting from the IPS for using their poles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“It is unfortunate that the price of internet is likely to go up by Rs 150 to Rs 300 per consumer due to the increase in cost of the physical infrastructures. Also it is a matter of concern that despite the suggestions from the CAN and the internet service providers to review the tax rate to make internet affordable and accessible to one and all, the internet service providers were considering hike in the internet prices,” read the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet started in Nepal in 1995, according to a paper published by the International Telecommunication Union in 2000. The CAN, in its statement, cautioned that the cable internet’s prices will go up staggeringly if the tariff for the utility poles were not revised. According to CAN, of the total internet users, 93 per cent were using cable internet in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“If the tariff for the poles were determined per kilometer, it would not be practical for internet service providers, large number of consumers and ‘Digital Nepal’ campaign,” the statement added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA, on the other hand, has warned to cut off internet wires stuck in the poles, if the internet service provider companies would not clear the outstanding dues by October 1 this year. – RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13747', 'image' => '20210922033830_20210730071331_20210526081934_20190922030926_aaaa (1).jpg', 'article_date' => '2021-09-22 15:36:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14001', 'article_category_id' => '1', 'title' => 'Foreign Trade from Birgunj Customs Jumps 68 Percent in Five Years', 'sub_title' => '', 'summary' => 'September 22: Foreign trade through Birgunj customs has increased by two-thirds in the last five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 22: Foreign trade through Birgunj customs has increased by two-thirds in the last five years. Birgunj customs is considered as the main gateway in terms of import and export of goods. According to the Birgunj Customs Office, foreign trade has increased by 68 percent in the last fiscal year 2077/78 as compared to the fiscal year 2073/74.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer Harihar Poudel said that the size of trade from Birgunj Customs has increased compared to the past years. He said that the foreign trade has gone up due to the increase in price annually.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel said that the volume of foreign trade has also increased in recent years as the average commodity price has risen by an average of 10 percent. In the last fiscal year 2077/78, goods worth Rs 313.24 billion have been imported and exported from Birgunj customs. This amount was Rs 185.42 billion in FY 2073/74.</span></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 data shows that the volume of export has also increased along with the import from Birgunj. Last year, amount of export increased four times compared to Rs 13.5 billion five years ago. According to the customs data, goods worth more than Rs 52 billion were exported through this checkpoint in the fiscal year 2077/78.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Fuel, vehicles and industrial raw materials, electrical appliances are imported through this checkpoint. The export products include refined edible oil, juice, jam, clothes, shoes and other items.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Last year, refined soybean oil and sunflower oil were exported in high quantities. Earlier, exporters focused on soybean and sunflower oil after India imposed a ban on refined palm oil. According to the customs office, the export of palm oil has resumed after India eased the ban.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel says that actual trade has not increased as expected from the Birgunj checkpoint despite its prime location and infrastructure. “The trade is seen relatively high due to rising consumer culture and rising commodity prices. However, the expected trade from this checkpoint has not taken place yet,” he told New Business Age. He further said that trade had also declined in the past two fiscal years due to the COVID-19 pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Except for the fiscal year 2076/77, trade seems to have increased comparatively in all the other years.</span></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's policy to discourage import that year and the decline in global trade due to the pandemic had also affected Nepal's foreign trade.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">During the Madhesh movement of 2072, the importers of Birgunj had gone to Bhairahawa and Biratnagar. Former president of the Birgunj Chamber of Commerce and Industry Pradip Kumar Kedia says that the businessmen who changed their checkpoints due to the strike and blockade for six months have not yet returned back to old ways. “Entrepreneurs have already built their infrastructure there after moving to the other side and it is not easy to leave it,” said Kedia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel also said that the importers of vehicles and Indian readymade garments went to Bhairahawa from Birgunj. He also informed that the overseas trade entering from Birgunj is concentrated towards Biratnagar. Moreover, he said that they are focusing on reducing time and expenses by facilitating foreign trade through the Birgunj checkpoint.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“We are trying to reduce cost and time required for import and export by creating integrated checkpoint in Birgunj along with the Indian side. The customs administration is making continuous efforts to reduce the cost of trade through Birgunj checkpoint,” 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"">According to Kedia, it is natural for importers to go through the checkpoints which make trade easier.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13746', 'image' => '20210922024351_1627860368.Clipboard07.jpg', 'article_date' => '2021-09-22 14:42:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14000', 'article_category_id' => '1', 'title' => 'NRB Study Shows Lumbini has High Potential in Agriculture, Tourism, and Industries ', 'sub_title' => '', 'summary' => 'September 22: A study conducted by Nepal Rastra Bank (NRB) shows that Lumbini Province has ample potential for agriculture, industry, and tourism development. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 22: A study conducted by Nepal Rastra Bank (NRB) shows that Lumbini Province has ample potential for agriculture, industry, and tourism development. Due to the arable land, industrial area, and tourist sites, the province has a high potential for the development of these three areas.</span></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 finding is based on a study on economic activities in Lumbini province. The report released on September 21 includes data from the first six months of last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB spokesperson Dev Kumar Dhakal said that a study has been conducted on the overall economic activities of Lumbini. “We had studied the overall economic activities of Lumbini Province. We had also conducted necessary studies in the field through which we have also identified the potential and challenges of regional business in the entire Lumbini Province,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The hill and terai areas of Lumbini Province are fit for the production of most of the agricultural produce.</span></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 districts of Inner Madhes and Terai including Dang, Banke, Bardiya, Kapilvastu, and Rupandehi have fertile land for agriculture. In addition, there are many valleys and fields in the hill districts. Studies have shown that there is a high potential for agro-business development. The report states that there is ample potential for cash crop production if reasonable irrigation facilities can be provided in the state.</span></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 study has shown that the Dang district can be developed as a pocket area of oilseeds while Rolpa, Rukum, and Pyuthan districts as seed production centers. The report also states that there is ample potential for further expansion of cash crops such as coffee and ginger in Palpa, Gulmi, Arghakhanchi, and Pyuthan districts of the state. Apart from this, there is a high potential for the production of sugarcane, vegetables, and spices.</span></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 report also mentions the possibility of animal husbandry, fishery, beekeeping, poultry, and ostrich farming.</span></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 study has also shown that there is a high potential for tourism development in Lumbini. Lumbini, the birthplace of Gautam Buddha, is a world-famous tourist destination and an important pilgrimage site for Buddhists worldwide. There are many religious and cultural sites, including Swargadwari, a Hindu shrine, and Supadeurali in Arghakhanchi. In addition, due to the specific cultures of Tharu, Magar, Awadh, Muslim, and other communities and the famous national parks in Banke and Bardiya, there is a high potential for tourism development, the report further states.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">There is also a possibility of attracting internal and external tourists by developing well-equipped hill stations in the hill districts of the state. Apart from this, it is mentioned in the report that more tourists can be attracted by systematically developing homestays. </span></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 study has also shown that the rapidly expanding cities like Butwal, Bhairahawa, Ghorahi, Tulsipur, Nepalgunj, and Kohalpur can be developed and expanded as the main centers of tourism, industry, trade, banking, capital market, education, and health. The report states that these potential metros could be the carriers of economic prosperity for the entire state. </span></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 study has shown that there is potential for industrial development in Lumbini as the province is connected to the Indian border, has large customs checkpoints like Sunauli, and can easily import raw materials and export manufactured goods.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director of NRB Dr. Prakash Shrestha said that there is high potential for agriculture, tourism, and industrial development in Lumbini. "Agriculture and tourism have high potential in Lumbini due to its geographical location," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The study has shown that there are possibilities as well as challenges in the development of agriculture, tourism, and industry. Lately, the problem of erosion of agricultural land has been increasing due to unmanaged land development and internal migration in the state.</span></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 report also mentions problems relating to encroachment of public lands and forest areas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">There is a problem of lack of adequate agricultural labor in hill districts and barren land in some areas. In addition, due to the lack of proper infrastructure and market, even the agricultural products produced in the state have not been able to get a fair price. Moreover, young people are not attracted towards agriculture. In such case, there will be more challenges in the development of agriculture, the report states.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Due to the inability to create adequate employment, the number of youths going abroad is significant. The report states that the task of involving the youth in productive, entrepreneurial, and creative work is full of challenges.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong> </strong></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13745', 'image' => '20210922125848_20210324105002_20190113122644_aaaa.jpg', 'article_date' => '2021-09-22 12:57:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13999', 'article_category_id' => '1', 'title' => 'Probe Committee finds SEBON Chair’s Involvement in Insider Trading', 'sub_title' => '', 'summary' => 'September 22: A probe committee formed to investigate the allegations against Bhishma Raj Dhungana, chairperson of the Securities Board of Nepal (SEBON), has held him accountable for abuse of authority while purchasing shares of Sarvottam Cement.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">September 22: A probe committee formed to investigate the allegations against Bhishma Raj Dhungana, chairperson of the Securities Board of Nepal (SEBON), has held him accountable for abuse of authority while purchasing shares of Sarvottam Cement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Former High Court Judge Ananta Raj Dumre, who led the committee, handed over the investigation report to Finance Minister Janardan Sharma at a program organized at the Ministry of Finance on Tuesday (September 21). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to a source close to the Finance Minister, SEBON Chair Dhungana had provided money to his daughter to purchase shares while she was abroad. The report has concluded that he was actively involved in the purchase of shares. Upon receiving the report, Minister Sharma informed that the government would make necessary steps after studying the report. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Sarbottam Cement's shares were also found to have been bought by the wife of Chandra Singh Saud, former CEO of Nepal Stock Exchange (NEPSE). After the issue came to light, Saud resigned from his post to facilitate investigation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, the Ministry of Finance had formed an internal committee to investigate the matter. It had also concluded Dhungana's involvement in purchase of shares in his daughter's name by ignoring his responsibilities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The report states that Dhungana had deposited money in the account of his daughter Rebika Dhungana maintained at Laxmi Bank. Within three days, Rebika made payment to Shikha Agrawal, shareholder of Sarvottam Cement, to buy the shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A high-level source at the Ministry of Finance said that Bhishmaraj Dhungana's daughter had deposited Rs 2.5 million in Agrawal's account. According to the report, Bhishma Raj Dhungana deposited Rs 2.5 million from his account 02959050250610 to his daughter's account. The transaction took place while Rebika was abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A probe committee was formed on September 1 to investigate Dhungana's alleged involvement in insider trading going against the code of conduct and hampering SEBON’s welfare and development of the capital market. The committee was asked to submit its report within fifteen days.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13744', 'image' => '20210922115056_20160922121316_sebon.jpg', 'article_date' => '2021-09-22 11:50:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13998', 'article_category_id' => '1', 'title' => 'Supreme Court Denies Interim Order against Appointment of Kulman Ghising', 'sub_title' => '', 'summary' => 'September 22: The Supreme Court (SC) has denied issuing an interim order in a writ petition filed against the appointment of Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: The Supreme Court (SC) has denied issuing an interim order in a writ petition filed against the appointment of Kulman Ghising as the executive director of Nepal Electricity Authority (NEA). </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"">With the apex court’s latest decision, Ghising can now continue his job at the NEA. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Chief Justice Cholendra Shumsher Rana ordered the concerned parties to furnish the details regarding the appointment but refused to issue an interim order or a show cause notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Supreme Court noted that the petitioner Hitendra Dev Shakya has been appointed as a specialist member in the Water and Energy Commission as per the decision of the Council of Ministers to give him the post of deputy executive.</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"">“From the current status, the petitioner does not seem to have been removed from his post thus an interim order is not deemed necessary,” the SC’s statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shakya had lodged the writ petition at the Supreme Court on August challenging the government’s decision to appoint Ghising as the Executive Director of NEA. --RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13743', 'image' => '20210922113201_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-09-22 11:31:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13997', 'article_category_id' => '1', 'title' => 'Paragliding to Resume in Pokhara Soon: Operators', 'sub_title' => '', 'summary' => 'September 21: Preparations are underway to resume paragliding in Pokhara after a gap of five months. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 21: Preparations are underway to resume paragliding in Pokhara after a gap of five months. According to Nepal Airsports Association (NAW) chair Krishna Bhandari, they have decided to resume paragliding following the government’s decision to lift the prohibitory order against COVID -19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have already organised a paragliding safety and awareness programme to resume the service. Similarly, the condition of paragliding devices has been checked. All the paragliding companies have successfully conducted test flights before resuming the flights and the resumption is likely in a couple of days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paragliding pilots and paragliding entrepreneurs attended a day-long training. </span><span style="font-family:"Arial Unicode MS","sans-serif"">The programme was held in the presence of around 200 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara Airport's Chief Bikram Raj Gautam, Civil Aviation Authority of Nepal (CAAN) Flight Safety Standard Department chief Raju Shrestha, senior manager Devendra Pandey and officer Mahesh Aryal were there to facilitate the session that was focused on the safety measures and awareness of paragliding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paragliding known as one of the forms of adventurous tourism had commercially started in Pokhara in 1999. At present, there are 60 paragliding companies in Pokhara and the number of pilots is 350 including around 15 foreigners. This sector has an investment of around Rs 1 billion while 1,000 people are directly employed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The paragliding companies had offered 50-60 percent discount after the first wave of COVID-19 and subsequently lockdown and the policy had attracted quite a good number of domestic tourists in Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> After the significant discount the service was available at Rs 2,500 to Rs 3000 against the previous charge of Rs 5,000 to 8,000. The operators have yet to decide new fare for the service, NAW general secretary Balaram Acharya said. -- RSS </span></span></span><br /> <img alt="" src="/app/webroot/userfiles/images/20180401020702__MG_0264.jpg" style="height:548px; width:800px" /></p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13742', 'image' => '20210921050635_20190306024457_paraglading pic.jpg', 'article_date' => '2021-09-21 17:05:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13996', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Shows Concern over Problems of Industrial Area ', 'sub_title' => '', 'summary' => 'September 21: The Industry, Commerce, Labour and Consumer Interest Committee of the House of Representatives has shown concern over the problems seen in the Gajendra Narayan Singh Industrial Zone at Rupani Rural Municipality of Saptari district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 21:</span><span style="font-family:"Arial Unicode MS","sans-serif""> The Industry, Commerce, Labour and Consumer Interest Committee of the House of Representatives has shown concern over the problems seen in the Gajendra Narayan Singh Industrial Zone at Rupani Rural Municipality of Saptari district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team led by the committee president Bimal Shreevastav inspected the industrial area on Monday, and interacted with the management, people's representatives and the civic society in connection with the issues related to the industrial estate. The team included Shreevastav, Sarita Kumari Giri, Pradip Saha and Sujata Pariyar. It will give suggestions to the government on the issues concerning the industrial zone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the interaction programme, chief of the Industrial Zone Management Office Deepak Raj Acharya said the industries have not flourished since the Department of Industries has not taken any policy-level decision about the industrial estate yet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"However, the industrial zone has started to transform since some days thanks to the cooperation from the locals, the civil society, political parties and journalists," he said, adding that the trend of setting up new industries in the industrial zone is gradually increasing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Milan Dairy, Mahalaxmi Paints, Usha Water Processing Industry and Koshi Polymers Industry are operating inside the industrial zone at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The problem of security and drainage is as it was before. But the problem of electricity and water supply has been addressed," Acharya said. A water tank with the capacity of 150,000 litres has been constructed in the industrial zone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rs 50 million was allocated for the development of the industrial estate during the tenure of then Minister for Industry, Matrika Prasad Yadav. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The work of plotting the land has been completed for expansion of 14 new industries and the process of operating new industries has been started. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the roads inside the industrial zone have become dilapidated. The industrial zone was established 34 years ago. The roofs and other structures inside the area need repair, which requires Rs 133.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya urged the parliamentary committee to take initiation for allocation of the required budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the industrial zone is facing the problem of inundation after the Province no 2 government started constructing physical infrastructures close to it. The province government has constructed the Martyrs Memorial adjacent to the industrial zone which has blocked the drainage system. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13741', 'image' => '20210921045622_Nepalese_Constituent_Assembly_Building.jpg', 'article_date' => '2021-09-21 16:55:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13995', 'article_category_id' => '1', 'title' => 'Appropriation Bill Tabled in National Assembly ', 'sub_title' => '', 'summary' => 'September 21: The Appropriation Bill, 2078 BS has been tabled in the National Assembly today (September 21) a day after it was passed by the House of Representatives with majority votes.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">September 21: The Appropriation Bill, 2078 BS has been tabled in the National Assembly today (September 21) a day after it was passed by the House of Representatives with majority votes. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Secretary of the Parliament Secretariat Rajendra Phuyal reportedly tabled the bill before the NA session on September 21.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Once the bill gets passed from the both Houses, it will be presented to President Bidya Devi Bhandari for authentication. It shall come into effect once the Head-of-the-State authenticates it.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">This will pave way for the government to spend the new budget, as it had been unable to spend the budget since September 16.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government is preparing to resolve the issue as soon as possible as it has been facing legal hurdles to spend the budget. In this context, the Appropriation Bill has been presented in parliament to replace the budget brought through an ordinance by the previous budget. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Amid UML's obstruction, Finance Minister Janardan Sharma had tabled the Finance Bill, Appropriation Bill and National Debt Raising Bill on September 11. The government had amended the previous government's budget, scrapped some projects and reduced the size of the budget as well. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government had reduced the budget by Rs 14.74 billion and presented a budget of Rs 1.63 trillion through the replacement bill. The government had also changed some tax rates and included some new social security programs.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px"><strong>How was the Appropriation Bill passed?</strong></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Though the UML lawmakers were chanting slogans, Speaker Agni Prasad Sapkota allowed a discussion on the replacement bill, however a long discussion was not held. The meeting was focused only on passing the Appropriation Bill.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">In the past, a month-long clause-wise deliberations used to be done on the Appropriation Bill, but due to opposition's obstruction, the Speaker moved the discussions forward in a fast track way. The Speaker had given twelve minutes to Member of Parliament Prem Suwal representing Nepal Workers and Peasants Party to express his views.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px"> "The Appropriation Bill used to be discussed in the parliament for one month. It has now been given only twelve minutes which shows the parliament is not accountable to the country and the people," said Suwal. He proposed to reduce the expenditure of various ministries. The proposal was rejected by a majority of MPs and the Speaker announced that the Appropriation Bill had been passed.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Suwal had also sought clarification from the Finance Minister on issues like the Kathmandu-Terai Fast Track. Finance Minister Sharma had answered Suwal's question in a simple manner. Then the Speaker Sapkota informed that the clause-wise deliberations on the Appropriation Bill was over. The same was the case with the Fiscal Bill.</span></span></p> <p> </p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><strong><span style="font-size:14.0pt">Government won't be able to spend immediately</span></strong></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Even though the budget has been passed, the government will not be able to spend immediately. The government can spend only after the bill is passed by the National Assembly and is authenticated by the President. Legally, the bill received from the House of Representatives should be sent to the House of Representatives within 15 days to the National Assembly including suggestions. Then the bill is sent to the President for authentication.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Today’s meeting of the National Assembly is likely to pass the Appropriation Bill sent by the House of Representatives. After that, it will take at least 2-3 days to complete the process of authentication by the President. Government officials are confident that the budget will be implemented as the Appropriation Bill has been passed.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Earlier, the government was in a difficult position after it became unable to pass the bill to replace the budget issued through ordinance by the previous government. The government is facing a budget holiday since September 15 due to the failure to pass the replacement bill. And almost all the government spending has been stalled.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Finance Minister Janardan Sharma said that the budget was passed amidst obstruction as extending the current situation would lead to a financial crisis. "We are continuing talks and negotiation with the opposition, but if the budget is withheld for a long time, everything will come to a standstill, so it had to be taken forward," he said. </span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">He also claimed that none of the plans introduced by then Finance Minister Bishnu Poudel had been removed but the new budget aims to increase volume of revenue collection.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13740', 'image' => '20210921031526_20210518051249_1621292862.Clipboard09 2.jpg', 'article_date' => '2021-09-21 15:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13994', 'article_category_id' => '1', 'title' => 'Mobile Banking Observes Exponential Growth as User Base Reaches 14 million', 'sub_title' => '', 'summary' => 'September 21: Mobile banking, which is considered as a convenient medium for cashless transactions, has been growing exponentially. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 21: Mobile banking, which is considered as a convenient medium for cashless transactions, has been growing exponentially. The number of mobile banking users has increased significantly during recent times, according to a report published by the Nepal Rastra Bank (NRB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the Nepal Rastra Bank, the number of mobile banking users by the end Fiscal Year 2020/21 was 1,41,94,839. The number of mobile banking users was just 1,13,60,000 in Fiscal Year 2019/20. It means that the number of mobile banking users increased by 26 percent in the last year alone.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Lately, the central bank and other financial institutions have been emphasizing on cashless transactions. For this purpose, mobile banking has been deemed as an appropriate medium. The features of mobile banking include, deposition of money into a different bank account, payment of water, electricity, internet bills, mobile recharge, booking of airline ticket, payment of insurance amount and many more. Mobile banking also offers the facility of payment via QR code.</span></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 Rastra Bank has revealed that the number of mobile banking users has reached more than that of the debit card (ATM) users. By last June, the number of ATM card users was 88,39,855, which is much lower than the number of mobile banking users.</span></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 usage of ATM cards in Nepal started in 1994 AD (2050/51 BS). But its usage couldn’t expand further for like 27/28 years. While on the other hand, the mobile banking services have turned the tables within the few years of introduction. The initial practice of mobile banking was observed in Nepal in 2004 AD.</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td colspan="2" style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Number of Mobile Banking Users</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2075</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">5086069</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2076</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">8347187</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2077</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">11306797</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2078</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">14194839</span></span></span></p> </td> </tr> <tr> <td colspan="2" style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Source: Nepal Rastra Bank</span></strong></span></span></p> </td> </tr> </tbody> </table> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </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 Chief of NRB’s Payment System Department, Bhuvan Kandel said that the number of mobile banking users has increased lately. He also said that the usage is still on the rise.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“Mobile banking is very easy as compared to other technologies in terms of electronic transactions. Due to this reason, its usage is expanding and being used extensively,” he said, adding, “As a whole, we feel that mobile banking has made a huge contribution to e-commerce.”</span></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 impact of the Covid-19 pandemic has intensified the usage of mobile banking, according to the NRB.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Kandel says that the attraction towards mobile banking has increased due to the availability of many services. While promoting electronic transactions, banks have not been promoting ATMs much lately. Experts say that the impact of mobile banking has deterred bank customers from using ATM cards. Banks say that ATM technology is outdated now.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a country with a geographical diversity like Nepal, it is not possible to expand ATMs everywhere. The customers have to walk for hours to reach the ATM. Therefore, NRB and bank officials say that mobile banking is now a suitable medium for business. Kandel says that after a certain period of time, technology like mobile banking could gradually replace cash transactions.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13739', 'image' => '20210921021328_Mobile banking.jpg', 'article_date' => '2021-09-21 14:12:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13993', 'article_category_id' => '1', 'title' => 'Government's Proposal not to Seek Sources of Income for Investment Draws Flak ', 'sub_title' => '', 'summary' => 'September 21: The government's decision to amend the Income Tax Act has received backlash.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 21: The government's decision to amend the Income Tax Act has received backlash.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In the proposal to amend the Income Tax Act, 2058 BS, the government has made a provision to include a clause that states ‘source of income shall not be reviewed for investment' while investing in various infrastructures. Although the government has defended such move stating that it wants to attract investment, stakeholders have pointed out the possibility of money laundering if the law gets amended.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Transparency International Nepal has protested stating that the government is amending the Income Tax Act to legalize illegal money.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Padmini Pradhangana, chairperson of the watchdog, if the proposal is endorsed to help legalize black money hidden by high-profile individuals such as politicians, civil servants, and businesspersons, it will promote corruption, increase tax fraud, and discourage regular taxpayers. This act goes against the spirit of Nepal's constitution, laws, and the international commitment against corruption, shared Pradhananga.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a statement issued on September 20, Transparency International Nepal called on the coalition government to withdraw the proposal immediately.</span></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 government has defended the move saying that it will not allow investment of illegal money.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Finance, by amending Section 11C of the Income Tax Act, 2058 BS, arrangements are being made to ensure that the source of income of the investment made in infrastructure development projects and industries of the national importance will not be sought till end of 2080 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">A statement issued by the Ministry of Finance on Monday said, "As per the law, action will be taken against money laundering, terrorist activities, corruption or any other criminal offense.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Finance Minister Janardan Sharma, the government is fully committed to curbing money laundering and financial investment in terrorist activities and implementing national laws and international commitments on corruption control.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13738', 'image' => '20210921125303_images.jpg', 'article_date' => '2021-09-21 12:47:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13992', 'article_category_id' => '1', 'title' => 'Government Starts Reconstruction of Melamchi Water Supply Project', 'sub_title' => '', 'summary' => 'September 21: Reconstruction of the Melamchi Water Supply Project, a national pride project, which was damaged by the catastrophic flood and landslides on June 15, has been started .', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">September 21: Reconstruction of the Melamchi Water Supply Project, a national pride project, which was damaged by the catastrophic flood and landslides on June 15, has been started after the government released Rs 1 billion for the reconstruction in the first phase.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Spokesperson of the Melamchi Water Supply Development Board Rajendra Prasad Panta said that the reconstruction works of the project has been started after discussions with the concerned agencies. The government has expressed commitment to provide the required amount for the reconstruction. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government has already provided Rs 1 billion to the committee with instructions to move ahead with the reconstruction in order to resume water supply to the Kathmandu Valley as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The board has demanded Rs 2 billion to rebuild the project and resume water supply. Panta informed that preparations are underway to distribute water of Melamchi river in Kathmandu Valley again by mid-April next year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government is preparing to hand over the responsibility of the project's headworks to the Nepalese Army. Project Chief Basudev Poudel said that discussions are underway to hand over the responsibility of opening 8 out of 22 km of road track from Melamchi Bazar to the headworks area to the Nepalese Army. “If it is given to a construction company, it will not be possible to open the track even in a year,” he said, “We will immediately inform the government and take a decision.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The construction entrepreneurs who have been constructing the headworks say that they are ready to supply construction materials and large machinery to Ambathan as soon as the water level of Melamchi river recedes. “The project has not been severely damaged,” said Poudel, adding, “We will immediately start the road construction work in coordination with various agencies.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to project chief Poudel, the latest flood washed away a section of 8-km road being constructed in Kieul area of Helambu, casting doubt on timely completion of the reconstruction works. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">An engineering camp and security post near the source of the river were inundated by the recent floods which also killed a Chinese and two Indians of the contractor company involved in the construction of the project. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13737', 'image' => '20210921114700_20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-09-21 11:45:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13990', 'article_category_id' => '1', 'title' => 'ADB Approves Power Project Loan to Nepal', 'sub_title' => '', 'summary' => 'September 20: The Asian Development Bank (ADB) has approved a US$60 million loan as additional support for the ongoing Electricity Grid Modernization Project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">September 20: The Asian Development Bank (ADB) has approved a US$60 million loan as additional support for the ongoing Electricity Grid Modernization Project that is upgrading power transmission and distribution systems in 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"">According to the ADB, the ongoing project, which was approved in November 2020, is automating 34 existing grid substations across Nepal, completing the installation of smart meters in the Kathmandu Valley, upgrading 144 kilometers (km) and constructing 113 km of transmission lines, and establishing an electricity distribution system command and control center.</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 additional financing will scale up ADB’s support to provide reliable, efficient, and sustainable electricity supply in Nepal,” ADB’s Principal Energy Specialist for South Asia Jiwan Acharya said in a statement issued by the bank. “This will provide additional investments to expand, strengthen, and modernize the transmission capacity and distribution networks so the country can reach its electricity consumption target of 700 kilowatt hours per capita by 2026.”</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 ADB, the increased funding will help construct 16 kilometers of 132-kilovolt transmission lines from Nepalgunj to Kohalpur and from Chovar to Lagankhel in order to expand the scope of the original project. It will introduce an additional 477 megavolt-amperes of substation capacity through the construction of substations in Dumkibas, Lagankhel, Mulpani, and Nepalgunj, the statement 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"">An enterprise resource planning and revenue management system will also be implemented to improve supply and system security and strengthen institutional capacity, ADB further said.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13736', 'image' => '20210920031504_20200430022205_asian-development-bank-ru.jpg', 'article_date' => '2021-09-20 15:14:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13991', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank Starts Exchanging New Banknotes for Dashain Festival', 'sub_title' => '', 'summary' => 'September 20: Banks and Financial Institutions (BFIs) have decided to make new banknotes available to the general public for the upcoming Dashain festival starting from today (September 20).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">September 20: Banks and Financial Institutions (BFIs) have decided to make new banknotes available to the general public for the upcoming Dashain festival starting from today (September 20).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">New notes have special importance during the Dashain festival. Therefore, Nepal Rastra Bank has informed that arrangements have been made for the distribution of new banknotes. According to the central bank's note management department, new banknote exchange facility has been provided in the Kathmandu Valley from Monday via designated branch offices of licensed commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">A circular issued by the central bank says that new notes can be exchanged at the nearest branch office specified by the commercial bank. Considering the risk of coronavirus infection, NRB has requested to issue the banknotes by adopting proper safety protocols against coronavirus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It has also been mentioned in the circykar that the notes can be exchanged by visiting the provincial office of Nepal Rastra Bank outside the Kathmandu Valley or the nearest branch office specified by the commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The central bank has decided to distribute banknotes of denominations of Rs 5, Rs 10, Rs 20, Rs 50 and Rs 100 amounting up to Rs 15 billion. In total, the central bank is preparing to distribute new notes worth Rs 35 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Arrangements have been made to distribute the new notes through 27 commercial banks and their branch offices. Such arrangements have been made realizing the possibility of a long queue at the central bank office for new notes.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13735', 'image' => '20210920031629_1632104498.new note.jpg', 'article_date' => '2021-09-20 15:15:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13989', 'article_category_id' => '1', 'title' => ' HoR endorses Appropriation Bill with Majority Votes ', 'sub_title' => '', 'summary' => 'September 20: A session of the House of Representatives (HoR) has passed the Appropriation Bill, 2078 BS with majority votes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 20: A session of the House of Representatives (HoR) has passed the Appropriation Bill, 2078 BS with majority votes. The lower house meeting on Monday (September 20) passed the proposal tabled by Finance Minister Janardan Sharma seeking the endorsement of the Bill despite obstructions from the main opposition party CPN (UML). </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"">Responding to the queries raised by lawmakers during the deliberation, Finance Minister Janardan Sharma said that the incumbent government has revised only three percent of the budget introduced by the erstwhile government headed by KP Sharma Oli. He said that the government has given top priority to people’s aspirations while amending the budget.</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"">Speaker Agni Prasad Sapkota announced that the budget has been endorsed by majority votes. This has opened door for the government to spend the budget. The government was observing budget holiday since last Wednesday as the bill could not be endorsed earlier. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma had presented a budget of Rs 1.63 trillion through a replacement bill on September 10.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Lower House meeting also approved two other bills on Monday. The meeting approved the Finance Bill, 2078 and the Bill to Mobilize Internal Loans, 2078, proposed by Finance Minister Janardan Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker Agni Prasad Sapkota has fixed September 23 for the clause-wise deliberations on the Finance Bill 2078. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13734', 'image' => '20210920025511_1632119507.janardan-sarma_mantri.jpg', 'article_date' => '2021-09-20 14:54:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13988', 'article_category_id' => '1', 'title' => 'Supreme Court Issues Show Cause Notice to the Government for Firing SEBON’s Chairman', 'sub_title' => '', 'summary' => 'September 20: The Supreme Court has issued a show cause notice against the government for suspending Bhishma Raj Dhungana from the post of chairman of the Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 20: The Supreme Court has issued a show cause notice against the government for suspending Bhishma Raj Dhungana from the post of chairman of the Securities Board of Nepal (SEBON).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana had filed a writ petition at the Supreme Court on September 8 against his suspension, challenging the Office of the Prime Minister and the Council of Ministers (OPMCM).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hearing on his writ, a single bench of Supreme Court Justice Kumar Regmi issued a show cause notice in the name 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"">The Supreme Court has called on both sides to discuss about the issue. A single bench of Justice Regmi has directed the OPMCM to submit written clarification for the suspension of Dhungana by September 21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana courted controversy after it was revealed that his daughter Rebika Dhungana had bought the shares of Sarbottam Cement in the process of public issuance of securities through book building method, which according to the government is now allowed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Following an internal investigation into the issue by a probe committee formed under the Ministry of Finance, a meeting of Council of Ministers on September 1 formed a three-member commission of inquiry under the chairmanship of former high court judge Anantraj Dumre to investigate into the matter. Expert Member Narayan Prasad Poudel and Arjun Kumar Khadka, Joint Secretary of the Law Commission are the members of the panel.</span></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 has been revealed that Dhungana had acquired 10,000 shares of Sarbottam Cement in the name of his own daughter. The Ministry of Finance had sought for an explanation from SEBON after it became public that the shares were taken in the name of his daughter Rebika Dhungana who is living in the US.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana, on the other hand, has been saying that it is not justifiable for the government to form an investigation committee and suspend him on the issue of shares bought by his married daughter. He argues that the government's suspension is malicious and has gone to court seeking legal help.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Finance Committee of Parliament had also instructed the government to investigate the matter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a similar case, the CEO of Nepal Stock Exchange (NEPSE) had resigned from his post to facilitate investigation. However, Dhungana decided to knock the door of the court instead of resigning. </span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13733', 'image' => '20210920020934_20210224103248_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-09-20 14:08:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14002', 'article_category_id' => '1', 'title' => 'ISPs Consider Increasing Internet Charge', 'sub_title' => '', 'summary' => 'September 22: The Computer Association of Nepal (CAN) has said that the internet price in Nepal is likely to be raised owing to the price hike in the use of the utility poles and fibers of the Nepal Electricity Authority. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: The Computer Association of Nepal (CAN) has said that the internet price in Nepal is likely to be raised owing to the price hike in the use of the utility poles and fibers of the Nepal Electricity Authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Tuesday, CAN said that the internet service providers (IPS) are going to increase the tariff of internet after the NEA increased the rent it was collecting from the IPS for using their poles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“It is unfortunate that the price of internet is likely to go up by Rs 150 to Rs 300 per consumer due to the increase in cost of the physical infrastructures. Also it is a matter of concern that despite the suggestions from the CAN and the internet service providers to review the tax rate to make internet affordable and accessible to one and all, the internet service providers were considering hike in the internet prices,” read the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet started in Nepal in 1995, according to a paper published by the International Telecommunication Union in 2000. The CAN, in its statement, cautioned that the cable internet’s prices will go up staggeringly if the tariff for the utility poles were not revised. According to CAN, of the total internet users, 93 per cent were using cable internet in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“If the tariff for the poles were determined per kilometer, it would not be practical for internet service providers, large number of consumers and ‘Digital Nepal’ campaign,” the statement added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA, on the other hand, has warned to cut off internet wires stuck in the poles, if the internet service provider companies would not clear the outstanding dues by October 1 this year. – RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13747', 'image' => '20210922033830_20210730071331_20210526081934_20190922030926_aaaa (1).jpg', 'article_date' => '2021-09-22 15:36:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14001', 'article_category_id' => '1', 'title' => 'Foreign Trade from Birgunj Customs Jumps 68 Percent in Five Years', 'sub_title' => '', 'summary' => 'September 22: Foreign trade through Birgunj customs has increased by two-thirds in the last five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 22: Foreign trade through Birgunj customs has increased by two-thirds in the last five years. Birgunj customs is considered as the main gateway in terms of import and export of goods. According to the Birgunj Customs Office, foreign trade has increased by 68 percent in the last fiscal year 2077/78 as compared to the fiscal year 2073/74.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer Harihar Poudel said that the size of trade from Birgunj Customs has increased compared to the past years. He said that the foreign trade has gone up due to the increase in price annually.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel said that the volume of foreign trade has also increased in recent years as the average commodity price has risen by an average of 10 percent. In the last fiscal year 2077/78, goods worth Rs 313.24 billion have been imported and exported from Birgunj customs. This amount was Rs 185.42 billion in FY 2073/74.</span></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 data shows that the volume of export has also increased along with the import from Birgunj. Last year, amount of export increased four times compared to Rs 13.5 billion five years ago. According to the customs data, goods worth more than Rs 52 billion were exported through this checkpoint in the fiscal year 2077/78.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Fuel, vehicles and industrial raw materials, electrical appliances are imported through this checkpoint. The export products include refined edible oil, juice, jam, clothes, shoes and other items.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Last year, refined soybean oil and sunflower oil were exported in high quantities. Earlier, exporters focused on soybean and sunflower oil after India imposed a ban on refined palm oil. According to the customs office, the export of palm oil has resumed after India eased the ban.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel says that actual trade has not increased as expected from the Birgunj checkpoint despite its prime location and infrastructure. “The trade is seen relatively high due to rising consumer culture and rising commodity prices. However, the expected trade from this checkpoint has not taken place yet,” he told New Business Age. He further said that trade had also declined in the past two fiscal years due to the COVID-19 pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Except for the fiscal year 2076/77, trade seems to have increased comparatively in all the other years.</span></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's policy to discourage import that year and the decline in global trade due to the pandemic had also affected Nepal's foreign trade.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">During the Madhesh movement of 2072, the importers of Birgunj had gone to Bhairahawa and Biratnagar. Former president of the Birgunj Chamber of Commerce and Industry Pradip Kumar Kedia says that the businessmen who changed their checkpoints due to the strike and blockade for six months have not yet returned back to old ways. “Entrepreneurs have already built their infrastructure there after moving to the other side and it is not easy to leave it,” said Kedia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel also said that the importers of vehicles and Indian readymade garments went to Bhairahawa from Birgunj. He also informed that the overseas trade entering from Birgunj is concentrated towards Biratnagar. Moreover, he said that they are focusing on reducing time and expenses by facilitating foreign trade through the Birgunj checkpoint.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“We are trying to reduce cost and time required for import and export by creating integrated checkpoint in Birgunj along with the Indian side. The customs administration is making continuous efforts to reduce the cost of trade through Birgunj checkpoint,” 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"">According to Kedia, it is natural for importers to go through the checkpoints which make trade easier.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13746', 'image' => '20210922024351_1627860368.Clipboard07.jpg', 'article_date' => '2021-09-22 14:42:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14000', 'article_category_id' => '1', 'title' => 'NRB Study Shows Lumbini has High Potential in Agriculture, Tourism, and Industries ', 'sub_title' => '', 'summary' => 'September 22: A study conducted by Nepal Rastra Bank (NRB) shows that Lumbini Province has ample potential for agriculture, industry, and tourism development. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 22: A study conducted by Nepal Rastra Bank (NRB) shows that Lumbini Province has ample potential for agriculture, industry, and tourism development. Due to the arable land, industrial area, and tourist sites, the province has a high potential for the development of these three areas.</span></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 finding is based on a study on economic activities in Lumbini province. The report released on September 21 includes data from the first six months of last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB spokesperson Dev Kumar Dhakal said that a study has been conducted on the overall economic activities of Lumbini. “We had studied the overall economic activities of Lumbini Province. We had also conducted necessary studies in the field through which we have also identified the potential and challenges of regional business in the entire Lumbini Province,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The hill and terai areas of Lumbini Province are fit for the production of most of the agricultural produce.</span></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 districts of Inner Madhes and Terai including Dang, Banke, Bardiya, Kapilvastu, and Rupandehi have fertile land for agriculture. In addition, there are many valleys and fields in the hill districts. Studies have shown that there is a high potential for agro-business development. The report states that there is ample potential for cash crop production if reasonable irrigation facilities can be provided in the state.</span></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 study has shown that the Dang district can be developed as a pocket area of oilseeds while Rolpa, Rukum, and Pyuthan districts as seed production centers. The report also states that there is ample potential for further expansion of cash crops such as coffee and ginger in Palpa, Gulmi, Arghakhanchi, and Pyuthan districts of the state. Apart from this, there is a high potential for the production of sugarcane, vegetables, and spices.</span></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 report also mentions the possibility of animal husbandry, fishery, beekeeping, poultry, and ostrich farming.</span></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 study has also shown that there is a high potential for tourism development in Lumbini. Lumbini, the birthplace of Gautam Buddha, is a world-famous tourist destination and an important pilgrimage site for Buddhists worldwide. There are many religious and cultural sites, including Swargadwari, a Hindu shrine, and Supadeurali in Arghakhanchi. In addition, due to the specific cultures of Tharu, Magar, Awadh, Muslim, and other communities and the famous national parks in Banke and Bardiya, there is a high potential for tourism development, the report further states.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">There is also a possibility of attracting internal and external tourists by developing well-equipped hill stations in the hill districts of the state. Apart from this, it is mentioned in the report that more tourists can be attracted by systematically developing homestays. </span></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 study has also shown that the rapidly expanding cities like Butwal, Bhairahawa, Ghorahi, Tulsipur, Nepalgunj, and Kohalpur can be developed and expanded as the main centers of tourism, industry, trade, banking, capital market, education, and health. The report states that these potential metros could be the carriers of economic prosperity for the entire state. </span></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 study has shown that there is potential for industrial development in Lumbini as the province is connected to the Indian border, has large customs checkpoints like Sunauli, and can easily import raw materials and export manufactured goods.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director of NRB Dr. Prakash Shrestha said that there is high potential for agriculture, tourism, and industrial development in Lumbini. "Agriculture and tourism have high potential in Lumbini due to its geographical location," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The study has shown that there are possibilities as well as challenges in the development of agriculture, tourism, and industry. Lately, the problem of erosion of agricultural land has been increasing due to unmanaged land development and internal migration in the state.</span></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 report also mentions problems relating to encroachment of public lands and forest areas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">There is a problem of lack of adequate agricultural labor in hill districts and barren land in some areas. In addition, due to the lack of proper infrastructure and market, even the agricultural products produced in the state have not been able to get a fair price. Moreover, young people are not attracted towards agriculture. In such case, there will be more challenges in the development of agriculture, the report states.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Due to the inability to create adequate employment, the number of youths going abroad is significant. The report states that the task of involving the youth in productive, entrepreneurial, and creative work is full of challenges.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong> </strong></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13745', 'image' => '20210922125848_20210324105002_20190113122644_aaaa.jpg', 'article_date' => '2021-09-22 12:57:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13999', 'article_category_id' => '1', 'title' => 'Probe Committee finds SEBON Chair’s Involvement in Insider Trading', 'sub_title' => '', 'summary' => 'September 22: A probe committee formed to investigate the allegations against Bhishma Raj Dhungana, chairperson of the Securities Board of Nepal (SEBON), has held him accountable for abuse of authority while purchasing shares of Sarvottam Cement.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">September 22: A probe committee formed to investigate the allegations against Bhishma Raj Dhungana, chairperson of the Securities Board of Nepal (SEBON), has held him accountable for abuse of authority while purchasing shares of Sarvottam Cement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Former High Court Judge Ananta Raj Dumre, who led the committee, handed over the investigation report to Finance Minister Janardan Sharma at a program organized at the Ministry of Finance on Tuesday (September 21). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to a source close to the Finance Minister, SEBON Chair Dhungana had provided money to his daughter to purchase shares while she was abroad. The report has concluded that he was actively involved in the purchase of shares. Upon receiving the report, Minister Sharma informed that the government would make necessary steps after studying the report. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Sarbottam Cement's shares were also found to have been bought by the wife of Chandra Singh Saud, former CEO of Nepal Stock Exchange (NEPSE). After the issue came to light, Saud resigned from his post to facilitate investigation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, the Ministry of Finance had formed an internal committee to investigate the matter. It had also concluded Dhungana's involvement in purchase of shares in his daughter's name by ignoring his responsibilities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The report states that Dhungana had deposited money in the account of his daughter Rebika Dhungana maintained at Laxmi Bank. Within three days, Rebika made payment to Shikha Agrawal, shareholder of Sarvottam Cement, to buy the shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A high-level source at the Ministry of Finance said that Bhishmaraj Dhungana's daughter had deposited Rs 2.5 million in Agrawal's account. According to the report, Bhishma Raj Dhungana deposited Rs 2.5 million from his account 02959050250610 to his daughter's account. The transaction took place while Rebika was abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A probe committee was formed on September 1 to investigate Dhungana's alleged involvement in insider trading going against the code of conduct and hampering SEBON’s welfare and development of the capital market. The committee was asked to submit its report within fifteen days.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13744', 'image' => '20210922115056_20160922121316_sebon.jpg', 'article_date' => '2021-09-22 11:50:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13998', 'article_category_id' => '1', 'title' => 'Supreme Court Denies Interim Order against Appointment of Kulman Ghising', 'sub_title' => '', 'summary' => 'September 22: The Supreme Court (SC) has denied issuing an interim order in a writ petition filed against the appointment of Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: The Supreme Court (SC) has denied issuing an interim order in a writ petition filed against the appointment of Kulman Ghising as the executive director of Nepal Electricity Authority (NEA). </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"">With the apex court’s latest decision, Ghising can now continue his job at the NEA. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Chief Justice Cholendra Shumsher Rana ordered the concerned parties to furnish the details regarding the appointment but refused to issue an interim order or a show cause notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Supreme Court noted that the petitioner Hitendra Dev Shakya has been appointed as a specialist member in the Water and Energy Commission as per the decision of the Council of Ministers to give him the post of deputy executive.</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"">“From the current status, the petitioner does not seem to have been removed from his post thus an interim order is not deemed necessary,” the SC’s statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shakya had lodged the writ petition at the Supreme Court on August challenging the government’s decision to appoint Ghising as the Executive Director of NEA. --RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13743', 'image' => '20210922113201_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-09-22 11:31:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13997', 'article_category_id' => '1', 'title' => 'Paragliding to Resume in Pokhara Soon: Operators', 'sub_title' => '', 'summary' => 'September 21: Preparations are underway to resume paragliding in Pokhara after a gap of five months. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 21: Preparations are underway to resume paragliding in Pokhara after a gap of five months. According to Nepal Airsports Association (NAW) chair Krishna Bhandari, they have decided to resume paragliding following the government’s decision to lift the prohibitory order against COVID -19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have already organised a paragliding safety and awareness programme to resume the service. Similarly, the condition of paragliding devices has been checked. All the paragliding companies have successfully conducted test flights before resuming the flights and the resumption is likely in a couple of days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paragliding pilots and paragliding entrepreneurs attended a day-long training. </span><span style="font-family:"Arial Unicode MS","sans-serif"">The programme was held in the presence of around 200 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara Airport's Chief Bikram Raj Gautam, Civil Aviation Authority of Nepal (CAAN) Flight Safety Standard Department chief Raju Shrestha, senior manager Devendra Pandey and officer Mahesh Aryal were there to facilitate the session that was focused on the safety measures and awareness of paragliding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paragliding known as one of the forms of adventurous tourism had commercially started in Pokhara in 1999. At present, there are 60 paragliding companies in Pokhara and the number of pilots is 350 including around 15 foreigners. This sector has an investment of around Rs 1 billion while 1,000 people are directly employed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The paragliding companies had offered 50-60 percent discount after the first wave of COVID-19 and subsequently lockdown and the policy had attracted quite a good number of domestic tourists in Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> After the significant discount the service was available at Rs 2,500 to Rs 3000 against the previous charge of Rs 5,000 to 8,000. The operators have yet to decide new fare for the service, NAW general secretary Balaram Acharya said. -- RSS </span></span></span><br /> <img alt="" src="/app/webroot/userfiles/images/20180401020702__MG_0264.jpg" style="height:548px; width:800px" /></p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13742', 'image' => '20210921050635_20190306024457_paraglading pic.jpg', 'article_date' => '2021-09-21 17:05:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13996', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Shows Concern over Problems of Industrial Area ', 'sub_title' => '', 'summary' => 'September 21: The Industry, Commerce, Labour and Consumer Interest Committee of the House of Representatives has shown concern over the problems seen in the Gajendra Narayan Singh Industrial Zone at Rupani Rural Municipality of Saptari district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 21:</span><span style="font-family:"Arial Unicode MS","sans-serif""> The Industry, Commerce, Labour and Consumer Interest Committee of the House of Representatives has shown concern over the problems seen in the Gajendra Narayan Singh Industrial Zone at Rupani Rural Municipality of Saptari district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team led by the committee president Bimal Shreevastav inspected the industrial area on Monday, and interacted with the management, people's representatives and the civic society in connection with the issues related to the industrial estate. The team included Shreevastav, Sarita Kumari Giri, Pradip Saha and Sujata Pariyar. It will give suggestions to the government on the issues concerning the industrial zone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the interaction programme, chief of the Industrial Zone Management Office Deepak Raj Acharya said the industries have not flourished since the Department of Industries has not taken any policy-level decision about the industrial estate yet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"However, the industrial zone has started to transform since some days thanks to the cooperation from the locals, the civil society, political parties and journalists," he said, adding that the trend of setting up new industries in the industrial zone is gradually increasing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Milan Dairy, Mahalaxmi Paints, Usha Water Processing Industry and Koshi Polymers Industry are operating inside the industrial zone at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The problem of security and drainage is as it was before. But the problem of electricity and water supply has been addressed," Acharya said. A water tank with the capacity of 150,000 litres has been constructed in the industrial zone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rs 50 million was allocated for the development of the industrial estate during the tenure of then Minister for Industry, Matrika Prasad Yadav. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The work of plotting the land has been completed for expansion of 14 new industries and the process of operating new industries has been started. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the roads inside the industrial zone have become dilapidated. The industrial zone was established 34 years ago. The roofs and other structures inside the area need repair, which requires Rs 133.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya urged the parliamentary committee to take initiation for allocation of the required budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the industrial zone is facing the problem of inundation after the Province no 2 government started constructing physical infrastructures close to it. The province government has constructed the Martyrs Memorial adjacent to the industrial zone which has blocked the drainage system. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13741', 'image' => '20210921045622_Nepalese_Constituent_Assembly_Building.jpg', 'article_date' => '2021-09-21 16:55:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13995', 'article_category_id' => '1', 'title' => 'Appropriation Bill Tabled in National Assembly ', 'sub_title' => '', 'summary' => 'September 21: The Appropriation Bill, 2078 BS has been tabled in the National Assembly today (September 21) a day after it was passed by the House of Representatives with majority votes.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">September 21: The Appropriation Bill, 2078 BS has been tabled in the National Assembly today (September 21) a day after it was passed by the House of Representatives with majority votes. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Secretary of the Parliament Secretariat Rajendra Phuyal reportedly tabled the bill before the NA session on September 21.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Once the bill gets passed from the both Houses, it will be presented to President Bidya Devi Bhandari for authentication. It shall come into effect once the Head-of-the-State authenticates it.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">This will pave way for the government to spend the new budget, as it had been unable to spend the budget since September 16.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government is preparing to resolve the issue as soon as possible as it has been facing legal hurdles to spend the budget. In this context, the Appropriation Bill has been presented in parliament to replace the budget brought through an ordinance by the previous budget. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Amid UML's obstruction, Finance Minister Janardan Sharma had tabled the Finance Bill, Appropriation Bill and National Debt Raising Bill on September 11. The government had amended the previous government's budget, scrapped some projects and reduced the size of the budget as well. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government had reduced the budget by Rs 14.74 billion and presented a budget of Rs 1.63 trillion through the replacement bill. The government had also changed some tax rates and included some new social security programs.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px"><strong>How was the Appropriation Bill passed?</strong></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Though the UML lawmakers were chanting slogans, Speaker Agni Prasad Sapkota allowed a discussion on the replacement bill, however a long discussion was not held. The meeting was focused only on passing the Appropriation Bill.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">In the past, a month-long clause-wise deliberations used to be done on the Appropriation Bill, but due to opposition's obstruction, the Speaker moved the discussions forward in a fast track way. The Speaker had given twelve minutes to Member of Parliament Prem Suwal representing Nepal Workers and Peasants Party to express his views.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px"> "The Appropriation Bill used to be discussed in the parliament for one month. It has now been given only twelve minutes which shows the parliament is not accountable to the country and the people," said Suwal. He proposed to reduce the expenditure of various ministries. The proposal was rejected by a majority of MPs and the Speaker announced that the Appropriation Bill had been passed.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Suwal had also sought clarification from the Finance Minister on issues like the Kathmandu-Terai Fast Track. Finance Minister Sharma had answered Suwal's question in a simple manner. Then the Speaker Sapkota informed that the clause-wise deliberations on the Appropriation Bill was over. The same was the case with the Fiscal Bill.</span></span></p> <p> </p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><strong><span style="font-size:14.0pt">Government won't be able to spend immediately</span></strong></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Even though the budget has been passed, the government will not be able to spend immediately. The government can spend only after the bill is passed by the National Assembly and is authenticated by the President. Legally, the bill received from the House of Representatives should be sent to the House of Representatives within 15 days to the National Assembly including suggestions. Then the bill is sent to the President for authentication.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Today’s meeting of the National Assembly is likely to pass the Appropriation Bill sent by the House of Representatives. After that, it will take at least 2-3 days to complete the process of authentication by the President. Government officials are confident that the budget will be implemented as the Appropriation Bill has been passed.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Earlier, the government was in a difficult position after it became unable to pass the bill to replace the budget issued through ordinance by the previous government. The government is facing a budget holiday since September 15 due to the failure to pass the replacement bill. And almost all the government spending has been stalled.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Finance Minister Janardan Sharma said that the budget was passed amidst obstruction as extending the current situation would lead to a financial crisis. "We are continuing talks and negotiation with the opposition, but if the budget is withheld for a long time, everything will come to a standstill, so it had to be taken forward," he said. </span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">He also claimed that none of the plans introduced by then Finance Minister Bishnu Poudel had been removed but the new budget aims to increase volume of revenue collection.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13740', 'image' => '20210921031526_20210518051249_1621292862.Clipboard09 2.jpg', 'article_date' => '2021-09-21 15:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13994', 'article_category_id' => '1', 'title' => 'Mobile Banking Observes Exponential Growth as User Base Reaches 14 million', 'sub_title' => '', 'summary' => 'September 21: Mobile banking, which is considered as a convenient medium for cashless transactions, has been growing exponentially. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 21: Mobile banking, which is considered as a convenient medium for cashless transactions, has been growing exponentially. The number of mobile banking users has increased significantly during recent times, according to a report published by the Nepal Rastra Bank (NRB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the Nepal Rastra Bank, the number of mobile banking users by the end Fiscal Year 2020/21 was 1,41,94,839. The number of mobile banking users was just 1,13,60,000 in Fiscal Year 2019/20. It means that the number of mobile banking users increased by 26 percent in the last year alone.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Lately, the central bank and other financial institutions have been emphasizing on cashless transactions. For this purpose, mobile banking has been deemed as an appropriate medium. The features of mobile banking include, deposition of money into a different bank account, payment of water, electricity, internet bills, mobile recharge, booking of airline ticket, payment of insurance amount and many more. Mobile banking also offers the facility of payment via QR code.</span></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 Rastra Bank has revealed that the number of mobile banking users has reached more than that of the debit card (ATM) users. By last June, the number of ATM card users was 88,39,855, which is much lower than the number of mobile banking users.</span></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 usage of ATM cards in Nepal started in 1994 AD (2050/51 BS). But its usage couldn’t expand further for like 27/28 years. While on the other hand, the mobile banking services have turned the tables within the few years of introduction. The initial practice of mobile banking was observed in Nepal in 2004 AD.</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td colspan="2" style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Number of Mobile Banking Users</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2075</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">5086069</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2076</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">8347187</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2077</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">11306797</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2078</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">14194839</span></span></span></p> </td> </tr> <tr> <td colspan="2" style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Source: Nepal Rastra Bank</span></strong></span></span></p> </td> </tr> </tbody> </table> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </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 Chief of NRB’s Payment System Department, Bhuvan Kandel said that the number of mobile banking users has increased lately. He also said that the usage is still on the rise.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“Mobile banking is very easy as compared to other technologies in terms of electronic transactions. Due to this reason, its usage is expanding and being used extensively,” he said, adding, “As a whole, we feel that mobile banking has made a huge contribution to e-commerce.”</span></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 impact of the Covid-19 pandemic has intensified the usage of mobile banking, according to the NRB.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Kandel says that the attraction towards mobile banking has increased due to the availability of many services. While promoting electronic transactions, banks have not been promoting ATMs much lately. Experts say that the impact of mobile banking has deterred bank customers from using ATM cards. Banks say that ATM technology is outdated now.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a country with a geographical diversity like Nepal, it is not possible to expand ATMs everywhere. The customers have to walk for hours to reach the ATM. Therefore, NRB and bank officials say that mobile banking is now a suitable medium for business. Kandel says that after a certain period of time, technology like mobile banking could gradually replace cash transactions.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13739', 'image' => '20210921021328_Mobile banking.jpg', 'article_date' => '2021-09-21 14:12:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13993', 'article_category_id' => '1', 'title' => 'Government's Proposal not to Seek Sources of Income for Investment Draws Flak ', 'sub_title' => '', 'summary' => 'September 21: The government's decision to amend the Income Tax Act has received backlash.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 21: The government's decision to amend the Income Tax Act has received backlash.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In the proposal to amend the Income Tax Act, 2058 BS, the government has made a provision to include a clause that states ‘source of income shall not be reviewed for investment' while investing in various infrastructures. Although the government has defended such move stating that it wants to attract investment, stakeholders have pointed out the possibility of money laundering if the law gets amended.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Transparency International Nepal has protested stating that the government is amending the Income Tax Act to legalize illegal money.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Padmini Pradhangana, chairperson of the watchdog, if the proposal is endorsed to help legalize black money hidden by high-profile individuals such as politicians, civil servants, and businesspersons, it will promote corruption, increase tax fraud, and discourage regular taxpayers. This act goes against the spirit of Nepal's constitution, laws, and the international commitment against corruption, shared Pradhananga.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a statement issued on September 20, Transparency International Nepal called on the coalition government to withdraw the proposal immediately.</span></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 government has defended the move saying that it will not allow investment of illegal money.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Finance, by amending Section 11C of the Income Tax Act, 2058 BS, arrangements are being made to ensure that the source of income of the investment made in infrastructure development projects and industries of the national importance will not be sought till end of 2080 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">A statement issued by the Ministry of Finance on Monday said, "As per the law, action will be taken against money laundering, terrorist activities, corruption or any other criminal offense.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Finance Minister Janardan Sharma, the government is fully committed to curbing money laundering and financial investment in terrorist activities and implementing national laws and international commitments on corruption control.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13738', 'image' => '20210921125303_images.jpg', 'article_date' => '2021-09-21 12:47:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13992', 'article_category_id' => '1', 'title' => 'Government Starts Reconstruction of Melamchi Water Supply Project', 'sub_title' => '', 'summary' => 'September 21: Reconstruction of the Melamchi Water Supply Project, a national pride project, which was damaged by the catastrophic flood and landslides on June 15, has been started .', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">September 21: Reconstruction of the Melamchi Water Supply Project, a national pride project, which was damaged by the catastrophic flood and landslides on June 15, has been started after the government released Rs 1 billion for the reconstruction in the first phase.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Spokesperson of the Melamchi Water Supply Development Board Rajendra Prasad Panta said that the reconstruction works of the project has been started after discussions with the concerned agencies. The government has expressed commitment to provide the required amount for the reconstruction. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government has already provided Rs 1 billion to the committee with instructions to move ahead with the reconstruction in order to resume water supply to the Kathmandu Valley as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The board has demanded Rs 2 billion to rebuild the project and resume water supply. Panta informed that preparations are underway to distribute water of Melamchi river in Kathmandu Valley again by mid-April next year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government is preparing to hand over the responsibility of the project's headworks to the Nepalese Army. Project Chief Basudev Poudel said that discussions are underway to hand over the responsibility of opening 8 out of 22 km of road track from Melamchi Bazar to the headworks area to the Nepalese Army. “If it is given to a construction company, it will not be possible to open the track even in a year,” he said, “We will immediately inform the government and take a decision.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The construction entrepreneurs who have been constructing the headworks say that they are ready to supply construction materials and large machinery to Ambathan as soon as the water level of Melamchi river recedes. “The project has not been severely damaged,” said Poudel, adding, “We will immediately start the road construction work in coordination with various agencies.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to project chief Poudel, the latest flood washed away a section of 8-km road being constructed in Kieul area of Helambu, casting doubt on timely completion of the reconstruction works. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">An engineering camp and security post near the source of the river were inundated by the recent floods which also killed a Chinese and two Indians of the contractor company involved in the construction of the project. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13737', 'image' => '20210921114700_20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-09-21 11:45:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13990', 'article_category_id' => '1', 'title' => 'ADB Approves Power Project Loan to Nepal', 'sub_title' => '', 'summary' => 'September 20: The Asian Development Bank (ADB) has approved a US$60 million loan as additional support for the ongoing Electricity Grid Modernization Project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">September 20: The Asian Development Bank (ADB) has approved a US$60 million loan as additional support for the ongoing Electricity Grid Modernization Project that is upgrading power transmission and distribution systems in 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"">According to the ADB, the ongoing project, which was approved in November 2020, is automating 34 existing grid substations across Nepal, completing the installation of smart meters in the Kathmandu Valley, upgrading 144 kilometers (km) and constructing 113 km of transmission lines, and establishing an electricity distribution system command and control center.</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 additional financing will scale up ADB’s support to provide reliable, efficient, and sustainable electricity supply in Nepal,” ADB’s Principal Energy Specialist for South Asia Jiwan Acharya said in a statement issued by the bank. “This will provide additional investments to expand, strengthen, and modernize the transmission capacity and distribution networks so the country can reach its electricity consumption target of 700 kilowatt hours per capita by 2026.”</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 ADB, the increased funding will help construct 16 kilometers of 132-kilovolt transmission lines from Nepalgunj to Kohalpur and from Chovar to Lagankhel in order to expand the scope of the original project. It will introduce an additional 477 megavolt-amperes of substation capacity through the construction of substations in Dumkibas, Lagankhel, Mulpani, and Nepalgunj, the statement 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"">An enterprise resource planning and revenue management system will also be implemented to improve supply and system security and strengthen institutional capacity, ADB further said.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13736', 'image' => '20210920031504_20200430022205_asian-development-bank-ru.jpg', 'article_date' => '2021-09-20 15:14:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13991', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank Starts Exchanging New Banknotes for Dashain Festival', 'sub_title' => '', 'summary' => 'September 20: Banks and Financial Institutions (BFIs) have decided to make new banknotes available to the general public for the upcoming Dashain festival starting from today (September 20).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">September 20: Banks and Financial Institutions (BFIs) have decided to make new banknotes available to the general public for the upcoming Dashain festival starting from today (September 20).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">New notes have special importance during the Dashain festival. Therefore, Nepal Rastra Bank has informed that arrangements have been made for the distribution of new banknotes. According to the central bank's note management department, new banknote exchange facility has been provided in the Kathmandu Valley from Monday via designated branch offices of licensed commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">A circular issued by the central bank says that new notes can be exchanged at the nearest branch office specified by the commercial bank. Considering the risk of coronavirus infection, NRB has requested to issue the banknotes by adopting proper safety protocols against coronavirus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It has also been mentioned in the circykar that the notes can be exchanged by visiting the provincial office of Nepal Rastra Bank outside the Kathmandu Valley or the nearest branch office specified by the commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The central bank has decided to distribute banknotes of denominations of Rs 5, Rs 10, Rs 20, Rs 50 and Rs 100 amounting up to Rs 15 billion. In total, the central bank is preparing to distribute new notes worth Rs 35 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Arrangements have been made to distribute the new notes through 27 commercial banks and their branch offices. Such arrangements have been made realizing the possibility of a long queue at the central bank office for new notes.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13735', 'image' => '20210920031629_1632104498.new note.jpg', 'article_date' => '2021-09-20 15:15:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13989', 'article_category_id' => '1', 'title' => ' HoR endorses Appropriation Bill with Majority Votes ', 'sub_title' => '', 'summary' => 'September 20: A session of the House of Representatives (HoR) has passed the Appropriation Bill, 2078 BS with majority votes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 20: A session of the House of Representatives (HoR) has passed the Appropriation Bill, 2078 BS with majority votes. The lower house meeting on Monday (September 20) passed the proposal tabled by Finance Minister Janardan Sharma seeking the endorsement of the Bill despite obstructions from the main opposition party CPN (UML). </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"">Responding to the queries raised by lawmakers during the deliberation, Finance Minister Janardan Sharma said that the incumbent government has revised only three percent of the budget introduced by the erstwhile government headed by KP Sharma Oli. He said that the government has given top priority to people’s aspirations while amending the budget.</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"">Speaker Agni Prasad Sapkota announced that the budget has been endorsed by majority votes. This has opened door for the government to spend the budget. The government was observing budget holiday since last Wednesday as the bill could not be endorsed earlier. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma had presented a budget of Rs 1.63 trillion through a replacement bill on September 10.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Lower House meeting also approved two other bills on Monday. The meeting approved the Finance Bill, 2078 and the Bill to Mobilize Internal Loans, 2078, proposed by Finance Minister Janardan Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker Agni Prasad Sapkota has fixed September 23 for the clause-wise deliberations on the Finance Bill 2078. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13734', 'image' => '20210920025511_1632119507.janardan-sarma_mantri.jpg', 'article_date' => '2021-09-20 14:54:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13988', 'article_category_id' => '1', 'title' => 'Supreme Court Issues Show Cause Notice to the Government for Firing SEBON’s Chairman', 'sub_title' => '', 'summary' => 'September 20: The Supreme Court has issued a show cause notice against the government for suspending Bhishma Raj Dhungana from the post of chairman of the Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 20: The Supreme Court has issued a show cause notice against the government for suspending Bhishma Raj Dhungana from the post of chairman of the Securities Board of Nepal (SEBON).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana had filed a writ petition at the Supreme Court on September 8 against his suspension, challenging the Office of the Prime Minister and the Council of Ministers (OPMCM).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hearing on his writ, a single bench of Supreme Court Justice Kumar Regmi issued a show cause notice in the name 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"">The Supreme Court has called on both sides to discuss about the issue. A single bench of Justice Regmi has directed the OPMCM to submit written clarification for the suspension of Dhungana by September 21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana courted controversy after it was revealed that his daughter Rebika Dhungana had bought the shares of Sarbottam Cement in the process of public issuance of securities through book building method, which according to the government is now allowed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Following an internal investigation into the issue by a probe committee formed under the Ministry of Finance, a meeting of Council of Ministers on September 1 formed a three-member commission of inquiry under the chairmanship of former high court judge Anantraj Dumre to investigate into the matter. Expert Member Narayan Prasad Poudel and Arjun Kumar Khadka, Joint Secretary of the Law Commission are the members of the panel.</span></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 has been revealed that Dhungana had acquired 10,000 shares of Sarbottam Cement in the name of his own daughter. The Ministry of Finance had sought for an explanation from SEBON after it became public that the shares were taken in the name of his daughter Rebika Dhungana who is living in the US.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana, on the other hand, has been saying that it is not justifiable for the government to form an investigation committee and suspend him on the issue of shares bought by his married daughter. He argues that the government's suspension is malicious and has gone to court seeking legal help.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Finance Committee of Parliament had also instructed the government to investigate the matter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a similar case, the CEO of Nepal Stock Exchange (NEPSE) had resigned from his post to facilitate investigation. 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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: The Computer Association of Nepal (CAN) has said that the internet price in Nepal is likely to be raised owing to the price hike in the use of the utility poles and fibers of the Nepal Electricity Authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Tuesday, CAN said that the internet service providers (IPS) are going to increase the tariff of internet after the NEA increased the rent it was collecting from the IPS for using their poles. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“It is unfortunate that the price of internet is likely to go up by Rs 150 to Rs 300 per consumer due to the increase in cost of the physical infrastructures. Also it is a matter of concern that despite the suggestions from the CAN and the internet service providers to review the tax rate to make internet affordable and accessible to one and all, the internet service providers were considering hike in the internet prices,” read the statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Internet started in Nepal in 1995, according to a paper published by the International Telecommunication Union in 2000. The CAN, in its statement, cautioned that the cable internet’s prices will go up staggeringly if the tariff for the utility poles were not revised. According to CAN, of the total internet users, 93 per cent were using cable internet in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“If the tariff for the poles were determined per kilometer, it would not be practical for internet service providers, large number of consumers and ‘Digital Nepal’ campaign,” the statement added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NEA, on the other hand, has warned to cut off internet wires stuck in the poles, if the internet service provider companies would not clear the outstanding dues by October 1 this year. – RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13747', 'image' => '20210922033830_20210730071331_20210526081934_20190922030926_aaaa (1).jpg', 'article_date' => '2021-09-22 15:36:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14001', 'article_category_id' => '1', 'title' => 'Foreign Trade from Birgunj Customs Jumps 68 Percent in Five Years', 'sub_title' => '', 'summary' => 'September 22: Foreign trade through Birgunj customs has increased by two-thirds in the last five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 22: Foreign trade through Birgunj customs has increased by two-thirds in the last five years. Birgunj customs is considered as the main gateway in terms of import and export of goods. According to the Birgunj Customs Office, foreign trade has increased by 68 percent in the last fiscal year 2077/78 as compared to the fiscal year 2073/74.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Chief Customs Officer Harihar Poudel said that the size of trade from Birgunj Customs has increased compared to the past years. He said that the foreign trade has gone up due to the increase in price annually.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel said that the volume of foreign trade has also increased in recent years as the average commodity price has risen by an average of 10 percent. In the last fiscal year 2077/78, goods worth Rs 313.24 billion have been imported and exported from Birgunj customs. This amount was Rs 185.42 billion in FY 2073/74.</span></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 data shows that the volume of export has also increased along with the import from Birgunj. Last year, amount of export increased four times compared to Rs 13.5 billion five years ago. According to the customs data, goods worth more than Rs 52 billion were exported through this checkpoint in the fiscal year 2077/78.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Fuel, vehicles and industrial raw materials, electrical appliances are imported through this checkpoint. The export products include refined edible oil, juice, jam, clothes, shoes and other items.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Last year, refined soybean oil and sunflower oil were exported in high quantities. Earlier, exporters focused on soybean and sunflower oil after India imposed a ban on refined palm oil. According to the customs office, the export of palm oil has resumed after India eased the ban.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel says that actual trade has not increased as expected from the Birgunj checkpoint despite its prime location and infrastructure. “The trade is seen relatively high due to rising consumer culture and rising commodity prices. However, the expected trade from this checkpoint has not taken place yet,” he told New Business Age. He further said that trade had also declined in the past two fiscal years due to the COVID-19 pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Except for the fiscal year 2076/77, trade seems to have increased comparatively in all the other years.</span></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's policy to discourage import that year and the decline in global trade due to the pandemic had also affected Nepal's foreign trade.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">During the Madhesh movement of 2072, the importers of Birgunj had gone to Bhairahawa and Biratnagar. Former president of the Birgunj Chamber of Commerce and Industry Pradip Kumar Kedia says that the businessmen who changed their checkpoints due to the strike and blockade for six months have not yet returned back to old ways. “Entrepreneurs have already built their infrastructure there after moving to the other side and it is not easy to leave it,” said Kedia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Poudel also said that the importers of vehicles and Indian readymade garments went to Bhairahawa from Birgunj. He also informed that the overseas trade entering from Birgunj is concentrated towards Biratnagar. Moreover, he said that they are focusing on reducing time and expenses by facilitating foreign trade through the Birgunj checkpoint.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“We are trying to reduce cost and time required for import and export by creating integrated checkpoint in Birgunj along with the Indian side. The customs administration is making continuous efforts to reduce the cost of trade through Birgunj checkpoint,” 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"">According to Kedia, it is natural for importers to go through the checkpoints which make trade easier.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13746', 'image' => '20210922024351_1627860368.Clipboard07.jpg', 'article_date' => '2021-09-22 14:42:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14000', 'article_category_id' => '1', 'title' => 'NRB Study Shows Lumbini has High Potential in Agriculture, Tourism, and Industries ', 'sub_title' => '', 'summary' => 'September 22: A study conducted by Nepal Rastra Bank (NRB) shows that Lumbini Province has ample potential for agriculture, industry, and tourism development. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 22: A study conducted by Nepal Rastra Bank (NRB) shows that Lumbini Province has ample potential for agriculture, industry, and tourism development. Due to the arable land, industrial area, and tourist sites, the province has a high potential for the development of these three areas.</span></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 finding is based on a study on economic activities in Lumbini province. The report released on September 21 includes data from the first six months of last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB spokesperson Dev Kumar Dhakal said that a study has been conducted on the overall economic activities of Lumbini. “We had studied the overall economic activities of Lumbini Province. We had also conducted necessary studies in the field through which we have also identified the potential and challenges of regional business in the entire Lumbini Province,” he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The hill and terai areas of Lumbini Province are fit for the production of most of the agricultural produce.</span></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 districts of Inner Madhes and Terai including Dang, Banke, Bardiya, Kapilvastu, and Rupandehi have fertile land for agriculture. In addition, there are many valleys and fields in the hill districts. Studies have shown that there is a high potential for agro-business development. The report states that there is ample potential for cash crop production if reasonable irrigation facilities can be provided in the state.</span></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 study has shown that the Dang district can be developed as a pocket area of oilseeds while Rolpa, Rukum, and Pyuthan districts as seed production centers. The report also states that there is ample potential for further expansion of cash crops such as coffee and ginger in Palpa, Gulmi, Arghakhanchi, and Pyuthan districts of the state. Apart from this, there is a high potential for the production of sugarcane, vegetables, and spices.</span></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 report also mentions the possibility of animal husbandry, fishery, beekeeping, poultry, and ostrich farming.</span></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 study has also shown that there is a high potential for tourism development in Lumbini. Lumbini, the birthplace of Gautam Buddha, is a world-famous tourist destination and an important pilgrimage site for Buddhists worldwide. There are many religious and cultural sites, including Swargadwari, a Hindu shrine, and Supadeurali in Arghakhanchi. In addition, due to the specific cultures of Tharu, Magar, Awadh, Muslim, and other communities and the famous national parks in Banke and Bardiya, there is a high potential for tourism development, the report further states.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">There is also a possibility of attracting internal and external tourists by developing well-equipped hill stations in the hill districts of the state. Apart from this, it is mentioned in the report that more tourists can be attracted by systematically developing homestays. </span></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 study has also shown that the rapidly expanding cities like Butwal, Bhairahawa, Ghorahi, Tulsipur, Nepalgunj, and Kohalpur can be developed and expanded as the main centers of tourism, industry, trade, banking, capital market, education, and health. The report states that these potential metros could be the carriers of economic prosperity for the entire state. </span></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 study has shown that there is potential for industrial development in Lumbini as the province is connected to the Indian border, has large customs checkpoints like Sunauli, and can easily import raw materials and export manufactured goods.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director of NRB Dr. Prakash Shrestha said that there is high potential for agriculture, tourism, and industrial development in Lumbini. "Agriculture and tourism have high potential in Lumbini due to its geographical location," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The study has shown that there are possibilities as well as challenges in the development of agriculture, tourism, and industry. Lately, the problem of erosion of agricultural land has been increasing due to unmanaged land development and internal migration in the state.</span></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 report also mentions problems relating to encroachment of public lands and forest areas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">There is a problem of lack of adequate agricultural labor in hill districts and barren land in some areas. In addition, due to the lack of proper infrastructure and market, even the agricultural products produced in the state have not been able to get a fair price. Moreover, young people are not attracted towards agriculture. In such case, there will be more challenges in the development of agriculture, the report states.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Due to the inability to create adequate employment, the number of youths going abroad is significant. The report states that the task of involving the youth in productive, entrepreneurial, and creative work is full of challenges.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong> </strong></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13745', 'image' => '20210922125848_20210324105002_20190113122644_aaaa.jpg', 'article_date' => '2021-09-22 12:57:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13999', 'article_category_id' => '1', 'title' => 'Probe Committee finds SEBON Chair’s Involvement in Insider Trading', 'sub_title' => '', 'summary' => 'September 22: A probe committee formed to investigate the allegations against Bhishma Raj Dhungana, chairperson of the Securities Board of Nepal (SEBON), has held him accountable for abuse of authority while purchasing shares of Sarvottam Cement.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">September 22: A probe committee formed to investigate the allegations against Bhishma Raj Dhungana, chairperson of the Securities Board of Nepal (SEBON), has held him accountable for abuse of authority while purchasing shares of Sarvottam Cement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Former High Court Judge Ananta Raj Dumre, who led the committee, handed over the investigation report to Finance Minister Janardan Sharma at a program organized at the Ministry of Finance on Tuesday (September 21). </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to a source close to the Finance Minister, SEBON Chair Dhungana had provided money to his daughter to purchase shares while she was abroad. The report has concluded that he was actively involved in the purchase of shares. Upon receiving the report, Minister Sharma informed that the government would make necessary steps after studying the report. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Sarbottam Cement's shares were also found to have been bought by the wife of Chandra Singh Saud, former CEO of Nepal Stock Exchange (NEPSE). After the issue came to light, Saud resigned from his post to facilitate investigation. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Earlier, the Ministry of Finance had formed an internal committee to investigate the matter. It had also concluded Dhungana's involvement in purchase of shares in his daughter's name by ignoring his responsibilities. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The report states that Dhungana had deposited money in the account of his daughter Rebika Dhungana maintained at Laxmi Bank. Within three days, Rebika made payment to Shikha Agrawal, shareholder of Sarvottam Cement, to buy the shares.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A high-level source at the Ministry of Finance said that Bhishmaraj Dhungana's daughter had deposited Rs 2.5 million in Agrawal's account. According to the report, Bhishma Raj Dhungana deposited Rs 2.5 million from his account 02959050250610 to his daughter's account. The transaction took place while Rebika was abroad.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A probe committee was formed on September 1 to investigate Dhungana's alleged involvement in insider trading going against the code of conduct and hampering SEBON’s welfare and development of the capital market. The committee was asked to submit its report within fifteen days.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13744', 'image' => '20210922115056_20160922121316_sebon.jpg', 'article_date' => '2021-09-22 11:50:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13998', 'article_category_id' => '1', 'title' => 'Supreme Court Denies Interim Order against Appointment of Kulman Ghising', 'sub_title' => '', 'summary' => 'September 22: The Supreme Court (SC) has denied issuing an interim order in a writ petition filed against the appointment of Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 22: The Supreme Court (SC) has denied issuing an interim order in a writ petition filed against the appointment of Kulman Ghising as the executive director of Nepal Electricity Authority (NEA). </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"">With the apex court’s latest decision, Ghising can now continue his job at the NEA. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A single bench of Chief Justice Cholendra Shumsher Rana ordered the concerned parties to furnish the details regarding the appointment but refused to issue an interim order or a show cause notice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Supreme Court noted that the petitioner Hitendra Dev Shakya has been appointed as a specialist member in the Water and Energy Commission as per the decision of the Council of Ministers to give him the post of deputy executive.</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"">“From the current status, the petitioner does not seem to have been removed from his post thus an interim order is not deemed necessary,” the SC’s statement read. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Shakya had lodged the writ petition at the Supreme Court on August challenging the government’s decision to appoint Ghising as the Executive Director of NEA. --RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-22', 'modified' => '2021-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '13743', 'image' => '20210922113201_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-09-22 11:31:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13997', 'article_category_id' => '1', 'title' => 'Paragliding to Resume in Pokhara Soon: Operators', 'sub_title' => '', 'summary' => 'September 21: Preparations are underway to resume paragliding in Pokhara after a gap of five months. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 21: Preparations are underway to resume paragliding in Pokhara after a gap of five months. According to Nepal Airsports Association (NAW) chair Krishna Bhandari, they have decided to resume paragliding following the government’s decision to lift the prohibitory order against COVID -19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have already organised a paragliding safety and awareness programme to resume the service. Similarly, the condition of paragliding devices has been checked. All the paragliding companies have successfully conducted test flights before resuming the flights and the resumption is likely in a couple of days," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paragliding pilots and paragliding entrepreneurs attended a day-long training. </span><span style="font-family:"Arial Unicode MS","sans-serif"">The programme was held in the presence of around 200 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Pokhara Airport's Chief Bikram Raj Gautam, Civil Aviation Authority of Nepal (CAAN) Flight Safety Standard Department chief Raju Shrestha, senior manager Devendra Pandey and officer Mahesh Aryal were there to facilitate the session that was focused on the safety measures and awareness of paragliding. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Paragliding known as one of the forms of adventurous tourism had commercially started in Pokhara in 1999. At present, there are 60 paragliding companies in Pokhara and the number of pilots is 350 including around 15 foreigners. This sector has an investment of around Rs 1 billion while 1,000 people are directly employed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The paragliding companies had offered 50-60 percent discount after the first wave of COVID-19 and subsequently lockdown and the policy had attracted quite a good number of domestic tourists in Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> After the significant discount the service was available at Rs 2,500 to Rs 3000 against the previous charge of Rs 5,000 to 8,000. The operators have yet to decide new fare for the service, NAW general secretary Balaram Acharya said. -- RSS </span></span></span><br /> <img alt="" src="/app/webroot/userfiles/images/20180401020702__MG_0264.jpg" style="height:548px; width:800px" /></p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13742', 'image' => '20210921050635_20190306024457_paraglading pic.jpg', 'article_date' => '2021-09-21 17:05:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13996', 'article_category_id' => '1', 'title' => 'Parliamentary Committee Shows Concern over Problems of Industrial Area ', 'sub_title' => '', 'summary' => 'September 21: The Industry, Commerce, Labour and Consumer Interest Committee of the House of Representatives has shown concern over the problems seen in the Gajendra Narayan Singh Industrial Zone at Rupani Rural Municipality of Saptari district. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 21:</span><span style="font-family:"Arial Unicode MS","sans-serif""> The Industry, Commerce, Labour and Consumer Interest Committee of the House of Representatives has shown concern over the problems seen in the Gajendra Narayan Singh Industrial Zone at Rupani Rural Municipality of Saptari district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team led by the committee president Bimal Shreevastav inspected the industrial area on Monday, and interacted with the management, people's representatives and the civic society in connection with the issues related to the industrial estate. The team included Shreevastav, Sarita Kumari Giri, Pradip Saha and Sujata Pariyar. It will give suggestions to the government on the issues concerning the industrial zone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the interaction programme, chief of the Industrial Zone Management Office Deepak Raj Acharya said the industries have not flourished since the Department of Industries has not taken any policy-level decision about the industrial estate yet. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"However, the industrial zone has started to transform since some days thanks to the cooperation from the locals, the civil society, political parties and journalists," he said, adding that the trend of setting up new industries in the industrial zone is gradually increasing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Milan Dairy, Mahalaxmi Paints, Usha Water Processing Industry and Koshi Polymers Industry are operating inside the industrial zone at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The problem of security and drainage is as it was before. But the problem of electricity and water supply has been addressed," Acharya said. A water tank with the capacity of 150,000 litres has been constructed in the industrial zone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rs 50 million was allocated for the development of the industrial estate during the tenure of then Minister for Industry, Matrika Prasad Yadav. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The work of plotting the land has been completed for expansion of 14 new industries and the process of operating new industries has been started. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Most of the roads inside the industrial zone have become dilapidated. The industrial zone was established 34 years ago. The roofs and other structures inside the area need repair, which requires Rs 133.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acharya urged the parliamentary committee to take initiation for allocation of the required budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the industrial zone is facing the problem of inundation after the Province no 2 government started constructing physical infrastructures close to it. The province government has constructed the Martyrs Memorial adjacent to the industrial zone which has blocked the drainage system. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13741', 'image' => '20210921045622_Nepalese_Constituent_Assembly_Building.jpg', 'article_date' => '2021-09-21 16:55:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13995', 'article_category_id' => '1', 'title' => 'Appropriation Bill Tabled in National Assembly ', 'sub_title' => '', 'summary' => 'September 21: The Appropriation Bill, 2078 BS has been tabled in the National Assembly today (September 21) a day after it was passed by the House of Representatives with majority votes.', 'content' => '<p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">September 21: The Appropriation Bill, 2078 BS has been tabled in the National Assembly today (September 21) a day after it was passed by the House of Representatives with majority votes. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Secretary of the Parliament Secretariat Rajendra Phuyal reportedly tabled the bill before the NA session on September 21.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Once the bill gets passed from the both Houses, it will be presented to President Bidya Devi Bhandari for authentication. It shall come into effect once the Head-of-the-State authenticates it.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">This will pave way for the government to spend the new budget, as it had been unable to spend the budget since September 16.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government is preparing to resolve the issue as soon as possible as it has been facing legal hurdles to spend the budget. In this context, the Appropriation Bill has been presented in parliament to replace the budget brought through an ordinance by the previous budget. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Amid UML's obstruction, Finance Minister Janardan Sharma had tabled the Finance Bill, Appropriation Bill and National Debt Raising Bill on September 11. The government had amended the previous government's budget, scrapped some projects and reduced the size of the budget as well. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">The government had reduced the budget by Rs 14.74 billion and presented a budget of Rs 1.63 trillion through the replacement bill. The government had also changed some tax rates and included some new social security programs.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px"><strong>How was the Appropriation Bill passed?</strong></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Though the UML lawmakers were chanting slogans, Speaker Agni Prasad Sapkota allowed a discussion on the replacement bill, however a long discussion was not held. The meeting was focused only on passing the Appropriation Bill.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">In the past, a month-long clause-wise deliberations used to be done on the Appropriation Bill, but due to opposition's obstruction, the Speaker moved the discussions forward in a fast track way. The Speaker had given twelve minutes to Member of Parliament Prem Suwal representing Nepal Workers and Peasants Party to express his views.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px"> "The Appropriation Bill used to be discussed in the parliament for one month. It has now been given only twelve minutes which shows the parliament is not accountable to the country and the people," said Suwal. He proposed to reduce the expenditure of various ministries. The proposal was rejected by a majority of MPs and the Speaker announced that the Appropriation Bill had been passed.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:18px">Suwal had also sought clarification from the Finance Minister on issues like the Kathmandu-Terai Fast Track. Finance Minister Sharma had answered Suwal's question in a simple manner. Then the Speaker Sapkota informed that the clause-wise deliberations on the Appropriation Bill was over. The same was the case with the Fiscal Bill.</span></span></p> <p> </p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><strong><span style="font-size:14.0pt">Government won't be able to spend immediately</span></strong></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Even though the budget has been passed, the government will not be able to spend immediately. The government can spend only after the bill is passed by the National Assembly and is authenticated by the President. Legally, the bill received from the House of Representatives should be sent to the House of Representatives within 15 days to the National Assembly including suggestions. Then the bill is sent to the President for authentication.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Today’s meeting of the National Assembly is likely to pass the Appropriation Bill sent by the House of Representatives. After that, it will take at least 2-3 days to complete the process of authentication by the President. Government officials are confident that the budget will be implemented as the Appropriation Bill has been passed.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Earlier, the government was in a difficult position after it became unable to pass the bill to replace the budget issued through ordinance by the previous government. The government is facing a budget holiday since September 15 due to the failure to pass the replacement bill. And almost all the government spending has been stalled.</span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">Finance Minister Janardan Sharma said that the budget was passed amidst obstruction as extending the current situation would lead to a financial crisis. "We are continuing talks and negotiation with the opposition, but if the budget is withheld for a long time, everything will come to a standstill, so it had to be taken forward," he said. </span></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:11pt"><span style="font-size:14.0pt">He also claimed that none of the plans introduced by then Finance Minister Bishnu Poudel had been removed but the new budget aims to increase volume of revenue collection.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13740', 'image' => '20210921031526_20210518051249_1621292862.Clipboard09 2.jpg', 'article_date' => '2021-09-21 15:14:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13994', 'article_category_id' => '1', 'title' => 'Mobile Banking Observes Exponential Growth as User Base Reaches 14 million', 'sub_title' => '', 'summary' => 'September 21: Mobile banking, which is considered as a convenient medium for cashless transactions, has been growing exponentially. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 21: Mobile banking, which is considered as a convenient medium for cashless transactions, has been growing exponentially. The number of mobile banking users has increased significantly during recent times, according to a report published by the Nepal Rastra Bank (NRB).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the Nepal Rastra Bank, the number of mobile banking users by the end Fiscal Year 2020/21 was 1,41,94,839. The number of mobile banking users was just 1,13,60,000 in Fiscal Year 2019/20. It means that the number of mobile banking users increased by 26 percent in the last year alone.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Lately, the central bank and other financial institutions have been emphasizing on cashless transactions. For this purpose, mobile banking has been deemed as an appropriate medium. The features of mobile banking include, deposition of money into a different bank account, payment of water, electricity, internet bills, mobile recharge, booking of airline ticket, payment of insurance amount and many more. Mobile banking also offers the facility of payment via QR code.</span></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 Rastra Bank has revealed that the number of mobile banking users has reached more than that of the debit card (ATM) users. By last June, the number of ATM card users was 88,39,855, which is much lower than the number of mobile banking users.</span></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 usage of ATM cards in Nepal started in 1994 AD (2050/51 BS). But its usage couldn’t expand further for like 27/28 years. While on the other hand, the mobile banking services have turned the tables within the few years of introduction. The initial practice of mobile banking was observed in Nepal in 2004 AD.</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td colspan="2" style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Number of Mobile Banking Users</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2075</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">5086069</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2076</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">8347187</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2077</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">11306797</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">By June 2078</span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">14194839</span></span></span></p> </td> </tr> <tr> <td colspan="2" style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; height:32px; vertical-align:top"> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Times New Roman","serif"">Source: Nepal Rastra Bank</span></strong></span></span></p> </td> </tr> </tbody> </table> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </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 Chief of NRB’s Payment System Department, Bhuvan Kandel said that the number of mobile banking users has increased lately. He also said that the usage is still on the rise.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“Mobile banking is very easy as compared to other technologies in terms of electronic transactions. Due to this reason, its usage is expanding and being used extensively,” he said, adding, “As a whole, we feel that mobile banking has made a huge contribution to e-commerce.”</span></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 impact of the Covid-19 pandemic has intensified the usage of mobile banking, according to the NRB.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Kandel says that the attraction towards mobile banking has increased due to the availability of many services. While promoting electronic transactions, banks have not been promoting ATMs much lately. Experts say that the impact of mobile banking has deterred bank customers from using ATM cards. Banks say that ATM technology is outdated now.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a country with a geographical diversity like Nepal, it is not possible to expand ATMs everywhere. The customers have to walk for hours to reach the ATM. Therefore, NRB and bank officials say that mobile banking is now a suitable medium for business. Kandel says that after a certain period of time, technology like mobile banking could gradually replace cash transactions.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13739', 'image' => '20210921021328_Mobile banking.jpg', 'article_date' => '2021-09-21 14:12:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13993', 'article_category_id' => '1', 'title' => 'Government's Proposal not to Seek Sources of Income for Investment Draws Flak ', 'sub_title' => '', 'summary' => 'September 21: The government's decision to amend the Income Tax Act has received backlash.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 21: The government's decision to amend the Income Tax Act has received backlash.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In the proposal to amend the Income Tax Act, 2058 BS, the government has made a provision to include a clause that states ‘source of income shall not be reviewed for investment' while investing in various infrastructures. Although the government has defended such move stating that it wants to attract investment, stakeholders have pointed out the possibility of money laundering if the law gets amended.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Transparency International Nepal has protested stating that the government is amending the Income Tax Act to legalize illegal money.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Padmini Pradhangana, chairperson of the watchdog, if the proposal is endorsed to help legalize black money hidden by high-profile individuals such as politicians, civil servants, and businesspersons, it will promote corruption, increase tax fraud, and discourage regular taxpayers. This act goes against the spirit of Nepal's constitution, laws, and the international commitment against corruption, shared Pradhananga.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a statement issued on September 20, Transparency International Nepal called on the coalition government to withdraw the proposal immediately.</span></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 government has defended the move saying that it will not allow investment of illegal money.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the Ministry of Finance, by amending Section 11C of the Income Tax Act, 2058 BS, arrangements are being made to ensure that the source of income of the investment made in infrastructure development projects and industries of the national importance will not be sought till end of 2080 BS. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">A statement issued by the Ministry of Finance on Monday said, "As per the law, action will be taken against money laundering, terrorist activities, corruption or any other criminal offense.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Finance Minister Janardan Sharma, the government is fully committed to curbing money laundering and financial investment in terrorist activities and implementing national laws and international commitments on corruption control.</span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13738', 'image' => '20210921125303_images.jpg', 'article_date' => '2021-09-21 12:47:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13992', 'article_category_id' => '1', 'title' => 'Government Starts Reconstruction of Melamchi Water Supply Project', 'sub_title' => '', 'summary' => 'September 21: Reconstruction of the Melamchi Water Supply Project, a national pride project, which was damaged by the catastrophic flood and landslides on June 15, has been started .', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">September 21: Reconstruction of the Melamchi Water Supply Project, a national pride project, which was damaged by the catastrophic flood and landslides on June 15, has been started after the government released Rs 1 billion for the reconstruction in the first phase.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Spokesperson of the Melamchi Water Supply Development Board Rajendra Prasad Panta said that the reconstruction works of the project has been started after discussions with the concerned agencies. The government has expressed commitment to provide the required amount for the reconstruction. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government has already provided Rs 1 billion to the committee with instructions to move ahead with the reconstruction in order to resume water supply to the Kathmandu Valley as soon as possible.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The board has demanded Rs 2 billion to rebuild the project and resume water supply. Panta informed that preparations are underway to distribute water of Melamchi river in Kathmandu Valley again by mid-April next year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government is preparing to hand over the responsibility of the project's headworks to the Nepalese Army. Project Chief Basudev Poudel said that discussions are underway to hand over the responsibility of opening 8 out of 22 km of road track from Melamchi Bazar to the headworks area to the Nepalese Army. “If it is given to a construction company, it will not be possible to open the track even in a year,” he said, “We will immediately inform the government and take a decision.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The construction entrepreneurs who have been constructing the headworks say that they are ready to supply construction materials and large machinery to Ambathan as soon as the water level of Melamchi river recedes. “The project has not been severely damaged,” said Poudel, adding, “We will immediately start the road construction work in coordination with various agencies.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to project chief Poudel, the latest flood washed away a section of 8-km road being constructed in Kieul area of Helambu, casting doubt on timely completion of the reconstruction works. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">An engineering camp and security post near the source of the river were inundated by the recent floods which also killed a Chinese and two Indians of the contractor company involved in the construction of the project. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-21', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13737', 'image' => '20210921114700_20210420041320_20210212111048_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-09-21 11:45:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13990', 'article_category_id' => '1', 'title' => 'ADB Approves Power Project Loan to Nepal', 'sub_title' => '', 'summary' => 'September 20: The Asian Development Bank (ADB) has approved a US$60 million loan as additional support for the ongoing Electricity Grid Modernization Project.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Segoe UI","sans-serif"">September 20: The Asian Development Bank (ADB) has approved a US$60 million loan as additional support for the ongoing Electricity Grid Modernization Project that is upgrading power transmission and distribution systems in 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"">According to the ADB, the ongoing project, which was approved in November 2020, is automating 34 existing grid substations across Nepal, completing the installation of smart meters in the Kathmandu Valley, upgrading 144 kilometers (km) and constructing 113 km of transmission lines, and establishing an electricity distribution system command and control center.</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 additional financing will scale up ADB’s support to provide reliable, efficient, and sustainable electricity supply in Nepal,” ADB’s Principal Energy Specialist for South Asia Jiwan Acharya said in a statement issued by the bank. “This will provide additional investments to expand, strengthen, and modernize the transmission capacity and distribution networks so the country can reach its electricity consumption target of 700 kilowatt hours per capita by 2026.”</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 ADB, the increased funding will help construct 16 kilometers of 132-kilovolt transmission lines from Nepalgunj to Kohalpur and from Chovar to Lagankhel in order to expand the scope of the original project. It will introduce an additional 477 megavolt-amperes of substation capacity through the construction of substations in Dumkibas, Lagankhel, Mulpani, and Nepalgunj, the statement 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"">An enterprise resource planning and revenue management system will also be implemented to improve supply and system security and strengthen institutional capacity, ADB further said.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13736', 'image' => '20210920031504_20200430022205_asian-development-bank-ru.jpg', 'article_date' => '2021-09-20 15:14:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13991', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank Starts Exchanging New Banknotes for Dashain Festival', 'sub_title' => '', 'summary' => 'September 20: Banks and Financial Institutions (BFIs) have decided to make new banknotes available to the general public for the upcoming Dashain festival starting from today (September 20).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">September 20: Banks and Financial Institutions (BFIs) have decided to make new banknotes available to the general public for the upcoming Dashain festival starting from today (September 20).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">New notes have special importance during the Dashain festival. Therefore, Nepal Rastra Bank has informed that arrangements have been made for the distribution of new banknotes. According to the central bank's note management department, new banknote exchange facility has been provided in the Kathmandu Valley from Monday via designated branch offices of licensed commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">A circular issued by the central bank says that new notes can be exchanged at the nearest branch office specified by the commercial bank. Considering the risk of coronavirus infection, NRB has requested to issue the banknotes by adopting proper safety protocols against coronavirus.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It has also been mentioned in the circykar that the notes can be exchanged by visiting the provincial office of Nepal Rastra Bank outside the Kathmandu Valley or the nearest branch office specified by the commercial banks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The central bank has decided to distribute banknotes of denominations of Rs 5, Rs 10, Rs 20, Rs 50 and Rs 100 amounting up to Rs 15 billion. In total, the central bank is preparing to distribute new notes worth Rs 35 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Arrangements have been made to distribute the new notes through 27 commercial banks and their branch offices. Such arrangements have been made realizing the possibility of a long queue at the central bank office for new notes.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13735', 'image' => '20210920031629_1632104498.new note.jpg', 'article_date' => '2021-09-20 15:15:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13989', 'article_category_id' => '1', 'title' => ' HoR endorses Appropriation Bill with Majority Votes ', 'sub_title' => '', 'summary' => 'September 20: A session of the House of Representatives (HoR) has passed the Appropriation Bill, 2078 BS with majority votes. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">September 20: A session of the House of Representatives (HoR) has passed the Appropriation Bill, 2078 BS with majority votes. The lower house meeting on Monday (September 20) passed the proposal tabled by Finance Minister Janardan Sharma seeking the endorsement of the Bill despite obstructions from the main opposition party CPN (UML). </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"">Responding to the queries raised by lawmakers during the deliberation, Finance Minister Janardan Sharma said that the incumbent government has revised only three percent of the budget introduced by the erstwhile government headed by KP Sharma Oli. He said that the government has given top priority to people’s aspirations while amending the budget.</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"">Speaker Agni Prasad Sapkota announced that the budget has been endorsed by majority votes. This has opened door for the government to spend the budget. The government was observing budget holiday since last Wednesday as the bill could not be endorsed earlier. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma had presented a budget of Rs 1.63 trillion through a replacement bill on September 10.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Lower House meeting also approved two other bills on Monday. The meeting approved the Finance Bill, 2078 and the Bill to Mobilize Internal Loans, 2078, proposed by Finance Minister Janardan Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker Agni Prasad Sapkota has fixed September 23 for the clause-wise deliberations on the Finance Bill 2078. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-21', 'keywords' => '', 'description' => '', 'sortorder' => '13734', 'image' => '20210920025511_1632119507.janardan-sarma_mantri.jpg', 'article_date' => '2021-09-20 14:54:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13988', 'article_category_id' => '1', 'title' => 'Supreme Court Issues Show Cause Notice to the Government for Firing SEBON’s Chairman', 'sub_title' => '', 'summary' => 'September 20: The Supreme Court has issued a show cause notice against the government for suspending Bhishma Raj Dhungana from the post of chairman of the Securities Board of Nepal (SEBON).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">September 20: The Supreme Court has issued a show cause notice against the government for suspending Bhishma Raj Dhungana from the post of chairman of the Securities Board of Nepal (SEBON).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana had filed a writ petition at the Supreme Court on September 8 against his suspension, challenging the Office of the Prime Minister and the Council of Ministers (OPMCM).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Hearing on his writ, a single bench of Supreme Court Justice Kumar Regmi issued a show cause notice in the name 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"">The Supreme Court has called on both sides to discuss about the issue. A single bench of Justice Regmi has directed the OPMCM to submit written clarification for the suspension of Dhungana by September 21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana courted controversy after it was revealed that his daughter Rebika Dhungana had bought the shares of Sarbottam Cement in the process of public issuance of securities through book building method, which according to the government is now allowed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Following an internal investigation into the issue by a probe committee formed under the Ministry of Finance, a meeting of Council of Ministers on September 1 formed a three-member commission of inquiry under the chairmanship of former high court judge Anantraj Dumre to investigate into the matter. Expert Member Narayan Prasad Poudel and Arjun Kumar Khadka, Joint Secretary of the Law Commission are the members of the panel.</span></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 has been revealed that Dhungana had acquired 10,000 shares of Sarbottam Cement in the name of his own daughter. The Ministry of Finance had sought for an explanation from SEBON after it became public that the shares were taken in the name of his daughter Rebika Dhungana who is living in the US.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Dhungana, on the other hand, has been saying that it is not justifiable for the government to form an investigation committee and suspend him on the issue of shares bought by his married daughter. He argues that the government's suspension is malicious and has gone to court seeking legal help.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Finance Committee of Parliament had also instructed the government to investigate the matter.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In a similar case, the CEO of Nepal Stock Exchange (NEPSE) had resigned from his post to facilitate investigation. However, Dhungana decided to knock the door of the court instead of resigning. </span></span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-09-20', 'modified' => '2021-09-20', 'keywords' => '', 'description' => '', 'sortorder' => '13733', 'image' => '20210920020934_20210224103248_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-09-20 14:08:50', '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
