August 29: Asian Institute of Technology and Management (AITM) College, Khulamtar has introduced courses of Birmingham University at the college.…
August 29: Asian Institute of Technology and Management (AITM) College, Khulamtar has introduced courses of Birmingham University at the college.…
August 29: Nepal Rastra Bank, the regulatory body of banks and financial institutions (BFIs) as well as the overall economy of the country, itself is found to have made loan investment and investment in shares of various organisations against the prescribed…
August 29: Nepal Investors Forum has formed a new executive committee headed by Tulsiram…
August 29: Nepal and Malaysia have expressed their readiness to work together for the promotion of tourism in both…
August 27: Finance Minister Janardan Sharma has intensified preparations to replace the budget of the current fiscal year brought by the previous government through…
August 27: Melamchi Water Supply Development Board is preparing to restore water supply to Kathmandu within mid-April next year after rebuilding damaged structures and access…
August 26: Sugarcane farmers of Sarlahi, who have not yet received full payment for the sale of sugarcane to sugar mills, have again started their protest in the capital demanding their due…
August 27: The average consumer price inflation stood at 3.60 percent in Fiscal Year 2020/21 compared to 6.15 percent a year ago, according to Nepal Rastra…
August 26: Around 7 million sets of mobile phones worth Rs 36.90 billion were imported in Nepal in the last fiscal …
August 26: Nepal Rastra Bank (NRB) has amended the Unified Directive making it mandatory for microfinance companies to prepare their financial statements according to Nepal Financial Reporting Standards…
August 26: A recent study has suggested that promotion of accessible tourism could help Nepal drive the sector's recovery and boost…
August 26: Sundar Auto Engineering has started the process of setting up an industry to assemble electric vehicles in Nepal.…
August 26: The fifth meeting of Nepal-Thailand Joint Commission held virtually on Wednesday (August 25) took stock of overall state of bilateral relations between Nepal and…
August 26: The Kathmandu Valley denizens will have to endure garbage piled at different places of the valley for one more week as it would take some time to prepare a new landfill site in Bancharedanda.…
August 25: The much-disputed social security fund has been operating on…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 29: Asian Institute of Technology and Management (AITM) College, Khulamtar has introduced courses of Birmingham University at the college. British Ambassador to Nepal Nicola Pollitt introduced the courses in the presence of Mayor of Lalitpur Chiri Babu Maharjan amid a programme at the college on Friday, August 27, the college said in a statement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The statement says that the college is the first educational institute of Nepal to collaborate with Birmingham University.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Under this agreement, Birmingham University will provide Masters of Business Administration and BSc in Computer and Information Technology courses through the college at affordable cost.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Launching the courses at the college British Ambassador to Nepal Nicola Pollitt extended best wishes and long-lasting collaboration between the two institutes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">AITM College is a private institute that has been providing international-level undergraduate courses. Established in 2012, this college is operated by acclaimed intellectuals and scholars who have more than three decades of experience in the field of education, according to the statement issued by the college.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college claims that its infrastructure is also of international standard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The statement further says that AITM College has been providing high-standard education in collaboration with IMI University of Switzerland.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college added that it firmly believes in multinational and multicultural values and principle and aims to collaborate with other international institutions in the future. </span></span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college intends to produce skilled manpower in the country and also to attract foreign students.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13627', 'image' => '20210829023934_AITM.jpg', 'article_date' => '2021-08-29 14:38:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13880', 'article_category_id' => '1', 'title' => 'Central Bank’s Loan Investment More than Prescribed Limit: OAG Report', 'sub_title' => '', 'summary' => 'August 29: Nepal Rastra Bank, the regulatory body of banks and financial institutions (BFIs) as well as the overall economy of the country, itself is found to have made loan investment and investment in shares of various organisations against the prescribed limit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">August 29: Nepal Rastra Bank, the regulatory body of banks and financial institutions (BFIs) as well as the overall economy of the country, itself is found to have made loan investment and investment in shares of various organisations against the prescribed limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">This is clearly evident from the recently published report of the Office of the Auditor General.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">As per the Nepal Rastra Bank, the central bank can invest in shares and provide loan up to 10 percent of the paid-up capital of any company. For instance, if the paid-up capital of a company is Rs 1 billion, the central bank can provide a maximum loan of Rs 100 million to the company. However, the Office of the Auditor General claims that NRB has flouted the rule and provided loan to a microfinance company which is more than 10 percent of the paid-up capital of the company. The report prepared by the OAG also points out to faulty investment in shares by the central bank on other companies against its limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The microfinance company in question had a paid-up capital of Rs 1 billion as of 2077 BS. Therefore, the company was entitled to receive a maximum loan of Rs 100 million. However, the 58<sup>th</sup> annual report of the OAG states that NRB has provided loan of Rs 310.4 million to the company. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The loan was provided to the company on July 16, 2019 in accordance to a decision taken by the Ministry of Finance on December 10, 2018.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The loan was provided to the company in line with a tripartite agreement between the company, finance ministry and the central bank for increasing access to finance in rural areas. However, the microfinance company has mentioned in its financial report that the loan was taken from the Government of Nepal instead of central bank, states the OAG report. NRB has expressed concern regarding this issue. The central bank has maintained that it has not provided loan against the limit set by the Act.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">NRB Spokesperson Dev Kumar Dhakal dismissed the AOG report stating that it did not reflect facts. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“We have been providing loan within our limit. That particular loan might have been provided under some special arrangements,” said Dhakal, adding that the Office of the Auditor General might have lacked proper understanding regarding the working modality of the central bank.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Similarly, the central bank is also accused of investing more than the prescribed limit in shares of various companies. NRB can invest in shares up to 10 percent of the total shares of any company. However, NRB is found to has stakes on 62.14 percent shares of Agriculture Technology Service Centre, 55.56 percent stakes on National Insurance Corporation, 14.6 percent in Nepal Stock Exchange (NEPSE), 13.34 percent in Citizen Investment Trust, 10.3 percent in Loan Information Centre and 15.29 percent in a bank, according to the OAG report.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Spokesperson Dhakal said that the preparations are underway to bring the share investment in those companies under the investment ceiling.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13626', 'image' => '20210829111744_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-29 11:16:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13881', 'article_category_id' => '1', 'title' => 'Nepal Investors Forum gets a New Executive Committee', 'sub_title' => '', 'summary' => 'August 29: Nepal Investors Forum has formed a new executive committee headed by Tulsiram Dhakal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 29: Nepal Investors Forum has formed a new executive committee headed by Tulsiram Dhakal. The 16<sup>th</sup> annual general meeting of the forum on Saturday formed the seven-member committee headed by Dhakal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Raj Lamsal has been appointed as the first vice president of the forum. Similarly, Anjeev Tuladhar has been appointed vice president while Durga Tiwari is the new general secretary of the forum. Bishweshwar Subedi is the secretary and Hari Chandra Khanal is the treasurer of the new committee. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Meanwhile, other members of the committee include Ambika Sharma Lamichhane, Atit Lal Shrestha and Srijana Subedi.</span></span></p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13625', 'image' => '20210829020856_images.jpg', 'article_date' => '2021-08-29 14:08:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13879', 'article_category_id' => '1', 'title' => 'Nepal-Malaysia to Work Together for Tourism Promotion ', 'sub_title' => '', 'summary' => 'August 29: Nepal and Malaysia have expressed their readiness to work together for the promotion of tourism in both countries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: Nepal and Malaysia have expressed their readiness to work together for the promotion of tourism in both countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Tourism Board and Malaysian Embassy in Kathmandu held a meeting in this regard. Chief Executive Officer of NTB Dhananjay Regmi and first secretary of the Malaysian Embassy held talks at the Embassy on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They reached a conclusion to work together adopting stipulated health safety protocol to promote tourism in both the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both the representatives agreed to continue exchange visits of diplomats, celebrities and media persons from both the countries as a measure of promoting tourism opportunities. Tourism sector of both the countries are facing hardship due to COVID-19 pandemic and its multifarious effects. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13624', 'image' => '20210829103803_Flag-Pins-Nepal-Malaysia.jpg', 'article_date' => '2021-08-29 10:37:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13876', 'article_category_id' => '1', 'title' => 'Finance Ministry Intensifies Preparing to Introduce Replacement Bill ', 'sub_title' => '', 'summary' => 'August 27: Finance Minister Janardan Sharma has intensified preparations to replace the budget of the current fiscal year brought by the previous government through ordinance.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 27: Finance Minister Janardan Sharma has intensified preparations to replace the budget of the current fiscal year brought by the previous government through ordinance. </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"">In this regard, Finance Minister Sharma held a meeting with the secretaries of various ministries on Thursday (August 26) and collected suggestions regarding the replacement bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the finance minister shed light on government’s priorities for the replacement bill and directed the secretaries to re-send the government’s programs by amending them in line with production-oriented economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government would emphasize on implementation of federalism, maintaining fiscal discipline and increasing capital expenditure while amending the ordinance 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"">Likewise, Minister Sharma has directed various ministries to send revision proposals giving priority to reducing poverty and increasing employment, making quality health services available, and giving priority to education, agriculture and tourism sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma also said that the government would give due attention to redefine and reschedule national pride projects, utilize stagnant state assets and integrate mobilization of various funds. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the government will proper arrangements for coordination of its plans and budget while it will reconsider the projects whose resources have not been ascertained and lack prior preparations for the detailed project report (DPR).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He directed the secretaries to send the revised budget and programs of the respective ministry to the Ministry of Finance by Friday (August 27), taking into consideration the priority areas determined by the government. </span></span></span><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13623', 'image' => '20210827102501_20200327032654_5003_finance-ministy.jpg', 'article_date' => '2021-08-27 10:24:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13877', 'article_category_id' => '1', 'title' => 'Water Supply from Melamchi Likely to be Restored by Next April ', 'sub_title' => '', 'summary' => 'August 27: Melamchi Water Supply Development Board is preparing to restore water supply to Kathmandu within mid-April next year after rebuilding damaged structures and access road. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 27: Melamchi Water Supply Development Board is preparing to restore water supply to Kathmandu within mid-April next year after rebuilding damaged structures and access road. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project had suffered significant damages from the devastating flood in the Melamchi River June 15. The board has set a plan to reopen the access road in coordination with the Department of Roads, the Nepalese Army and the local government in order to repair the damaged structures. </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"">However, the exact details of loss caused to the project by subsequent floods during this monsoon is yet to be ascertained. The project site is covered with debris and sediments and the details of loss can be estimated only when they are removed, says Rajendra Prasad Panta, information officer of the board.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The project headwork remains buried under 10-15 meters of the sediments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Although the board has calculated the tentative time period for restoring water supply, it may be slightly changed because the exact loss is yet to be ascertained.</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"">Information Officer Pant said that they have been discussing about alternative water diversion as it is not possible to divert water from the headwork immediately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Access route to Ambathan of Healmbu and headwork are likely to be affected the most by the floods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The board is discussing whether to rebuild the existing access road or find an alternative one. The final decision will be taken after consultation with the experts, said Panta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13622', 'image' => '20210827104851_20210222115707_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-08-27 10:47:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13874', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Preparing to Protest against Delay on Due Settlement', 'sub_title' => '', 'summary' => 'August 26: Sugarcane farmers of Sarlahi, who have not yet received full payment for the sale of sugarcane to sugar mills, have again started their protest in the capital demanding their due payment.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Sugarcane farmers of Sarlahi, who have not yet received full payment for the sale of sugarcane to sugar mills, have again started their protest in the capital demanding their due payment.</span></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 government data, out of a total of Rs 650 million due to sugarcane farmers, Rs 150 million is yet to be paid. However, sugarcane farmers claim that they are yet to receive dues worth Rs 250 million out of the total amount of Rs 900 million.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Demanding payment of the due amount, the sugarcane farmers had held a press conference in Kathmandu in mid-July last year giving the deadline of August 21 to the sugar mills and government to clear the dues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sugarcane farmers have started preparations for the protest after their demands were not met by the government and the sugar mills. According to Rakesh Mishra, a member of the Sugarcane Farmer Struggle Committee Sarlahi, sugarcane farmers owe Rs 80 million to Annapurna Sugar Industry of Sarlahi, Rs 5 million to Mahalakshmi Sugar Mill in Sarlahi, Rs 30 million to Shri Ram Sugar Mill in Rautahat, Rs 20 million to Indira Sugar Mill Nawalparasi and Rs 20 million to Lumbini Sugar Factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“Despite repeated requests from the government to pay this amount as soon as possible, the sugar mills have not responded. So there is no alternative than to protest. We are fully prepared for the movement which can start anytime,” he told New Business Age. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Furthermore, he said that ith the government has assured them several times that it will facilitate in clearing the dues, but many farmers have not received any amount yet and they are not ready to make any agreement 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"">Secretary of the committee Harishyam Raya said that the task force formed to resolve the issue of Rs 900 million claimed by the farmers and Rs 650 million claimed by the government has also been unfair to them.</span></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 him, the task force did not disclose the amount even though it was mentioned that the farmers were yet to receive the due from the industrialists. All Nepal Peasants’ Union, All Nepal Progressive Peasants’ Association, All Nepal Peasants’ Federation and other organizations have also supported the sugarcane farmers. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13621', 'image' => '20210826024723_20210730041505_20210125102806_20201229113333_1609164432.jpg', 'article_date' => '2021-08-26 14:46:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13878', 'article_category_id' => '1', 'title' => 'NRB Report Shows Average Inflation of 3.6 Percent ', 'sub_title' => 'Trade Deficit and Remittance Inflow Up while Current Account in Deficit, BoP in Surplus', 'summary' => 'August 27: The average consumer price inflation stood at 3.60 percent in Fiscal Year 2020/21 compared to 6.15 percent a year ago, according to Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 27: The average consumer price inflation stood at 3.60 percent in Fiscal Year 2020/21 compared to 6.15 percent a year ago, according to 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:"Arial","sans-serif"">Unveiling the annual report on Current Macroeconomic and Financial Situation of last fiscal year on Thursday (August 26), the central bank said that the average consumer price of ghee and oil; pulses and legumes; tobacco products; and transportation sub-groups rose 17.54 percent, 10.65 percent, 9.83 percent and 6.41 percent respectively on annual basis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Export</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">During 2020/ 21, merchandise exports increased 44.4 percent to Rs 141.12 billion compared to an increase of 0.6 percent in the previous year, 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:"Arial","sans-serif"">Destination-wise, exports to India and other countries increased 51.7 percent and 27.7 percent respectively whereas exports to China decreased 14.7 percent. Exports of soybean oil, cardamom, polyester yarn and threads, jute products, woolen carpet, among others, increased whereas exports of palm oil, pulses, zinc sheet, wire, cattle feed, among others, decreased in the review period. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Import </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Likewise, in FY 2020/21, merchandise imports increased 28.7 percent to Rs 1539.84 billion against a decrease of 15.6 percent a year ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Destination-wise, imports from India, China and other countries increased 32.1 percent, 28.6 percent and 19.6 percent respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Imports of transport equipment and parts, crude soybean oil, MS billet, rice, gold, among others, increased whereas imports of aircraft spare parts, crude palm oil, video television and parts, cold-rolled sheet in coil, betel-nut, among others, decreased in the review period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Trade Deficit</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the report, the total trade deficit increased 27.3 percent to Rs 1398.71 billion during 2020/21. Such a deficit had decreased 16.8 percent in the previous year. The export-import ratio increased to 9.2 percent in the review period from 8.2 percent in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Remittance </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Meanwhile, inflow of remittance increased 9.8 percent to Rs 961.05 billion in the review year against a decrease of 0.5 percent in the previous year. In terms of US Dollar, remittance inflow increased 8.2 percent to 8.15 billion in the review year against a decrease of 3.3 percent in the previous year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Foreign Employment </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The number of Nepali workers taking approval for foreign employment decreased 62.8 percent in the review year. It had decreased 20.5 percent in the previous year. The number of Nepali workers (renew entry) taking approval for foreign employment decreased 46.8 percent in the review year. It had decreased 34.7 percent in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Current Account</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Meanwhile, the current account remained at a deficit of Rs 333.67 billion in the review year compared to a deficit of Rs 33.76 billion in the previous year. In the US Dollar terms, the current account registered a deficit of 2.84 billion in the review year compared to a deficit of 339.8 million in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Capital Transfer</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">In the review year, capital transfer increased 7.4 percent to Rs 15.26 billion and net foreign direct investment (FDI) increased 0.2 percent to Rs 19.51 billion. In the previous year, capital transfer and net FDI amounted to Rs 14.21 billion and Rs 19.48 billion respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Balance of Payments </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">On the other hand, Balance of Payments (BOP) registered a surplus of Rs 1.23 billion in the review year compared to a surplus of Rs 282.41 billion in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Refinancing</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The report further states that NRB approved Rs 148.75 billion refinance in 2020/21. The outstanding amount of refinance provided by NRB remained Rs 122.70 billion in mid-July 2021. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Concessional Loan</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">As of mid-July 2021, the outstanding concessional loan is Rs 161.44 billion extended to 104,109 borrowers. Of which, Rs 106.98 billion has been extended to 46,057 borrowers for commercial agriculture and livestock businesses.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 50.98 billion loan has been extended to 55,551 women entrepreneurs. Remaining Rs 3.48 billion loan has been extended to 2,501 borrowers of other categories of concessional loans. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Business Continuity Loan</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Business continuity loan has been extended to the Covid-19 affected tourism, cottage, small and medium industries for payment of salaries to workers and employees in line with 'Business Continuity Loan Procedure, 2077'. Under this provision, Rs 956.7 million loan has been approved as of mid-July 2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Branch Extension</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Of the total 753 local levels, commercial banks extended their branches at 750 levels as of mid-July 2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Gross Domestic Product Growth</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The Central Bureau of Statistics has estimated the Gross Domestic Product growth of 4.01 percent for 2020/21. Agriculture, industry and service sectors are estimated to grow 2.64 percent, 5.05 percent and 4.43 percent respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The share of agriculture, industry and service sectors in GDP stands 25.83 percent, 13.11 percent and 61.06 percent respectively in 2020/21. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Gross domestic saving to GDP stands 6.6 percent in 2020/21. Ratio of gross fixed capital formation and gross national saving to GDP stands 27.26 percent and 32.30 percent respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Hydro Electricity Capacity and Reconstruction</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The installed capacity of hydro electricity increased to 1458 Megawatt in 2020/21. According to National Reconstruction Authority, reconstruction of 74.2 percent and 93.5 percent of private houses and government buildings, respectively, have been completed by the end of 2020/21. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Tourist Arrival </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The total number of tourist arrivals decreased 90.9 percent to 70,123 in 2020/21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13620', 'image' => '20210827112249_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-27 11:19:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13872', 'article_category_id' => '1', 'title' => 'Nepal Imports Mobile Phones worth Rs 37 Billion ', 'sub_title' => '', 'summary' => 'August 26: Around 7 million sets of mobile phones worth Rs 36.90 billion were imported in Nepal in the last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Around 7 million sets of mobile phones worth Rs 36.90 billion were imported in Nepal in the last fiscal year. Consumption of mobile phones has increased in Nepal due to the new environment created by the lockdown.</span></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 growing trend of online classrooms and zoom conferences, increase in inflow of remittances, access to electricity at rural areas, increasing use of mobile phones in teaching methods, increasing practice of online version in government services and information technology-friendly society have contributed in increasing the demand for mobile phones in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">About 62 percent of Nepal's mobile phones are imported from China, while other major source countries are India and Vietnam.</span></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 customs department, revenue of Rs 5.84 billion has been received from mobile phone import 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"">Import of mobile phones in Nepal:</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td 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"">Fiscal Year</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (1 million sets)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (in billion rupees)</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"">2008/9</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"">-</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"">2.27</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"">2009/10</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"">1.72</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"">6.01</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"">2010/11</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"">1.74</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"">4.47</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"">2011/12</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"">1.93</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"">5.01</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"">2012/13</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"">2.16</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"">5.98</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"">2013/14</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"">3.12</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"">9.91</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"">2014/15</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"">3.81</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"">13.05</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"">2015/16</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"">4.99</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"">18.20</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"">2016/17</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"">5.95</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"">22.66</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"">2017/18</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"">6.22</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"">24.88</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"">2018/19</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"">4.28</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"">19.28</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"">2019/20</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"">4.37</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"">18.18</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"">2020/21</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"">7.03</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"">36.90</span></span></span></p> </td> </tr> <tr> <td colspan="3" 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"><em><span style="font-family:"Times New Roman","serif"">Source: Trade and Export Promotion Centre</span></em></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"">Import of mobile phones in fiscal year 2020/21</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td 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"">Countries</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (in Billions)</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"">Total</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"">36.90</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"">China</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"">22.83</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"">India</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"">12.50</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"">Vietnam</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"">1.26</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"">Others</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"">0.31</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"><em><span style="font-family:"Times New Roman","serif"">Source: Customs Department</span></em></span></span></p> </td> </tr> </tbody> </table> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13619', 'image' => '20210826021915_20201019114758_1603066095.34 2.jpg', 'article_date' => '2021-08-26 14:17:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13875', 'article_category_id' => '1', 'title' => 'Microfinance Companies told to Prepare Financial Statements in line with NFRS', 'sub_title' => '', 'summary' => 'August 26: Nepal Rastra Bank (NRB) has amended the Unified Directive making it mandatory for microfinance companies to prepare their financial statements according to Nepal Financial Reporting Standards (NFRS).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 26: Nepal Rastra Bank (NRB) has amended the Unified Directive making it mandatory for microfinance companies to prepare their financial statements according to Nepal Financial Reporting Standards (NFRS).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, microfinance companies used to prepare financial statements according to Nepal Accounting Standards (NAS). From now on, NRB has directed them to prepare the financial statements as per NFRS. The central bank has said the financial statements of 2020/21 should also be prepared according to the NFRS system.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">NRB has implemented some of the provisions announced in the monetary policy regarding microfinance companies by amending the Unified Directive. Dev Kumar Dhakal, spokesperson of the central bank, informed that provisions introduced for microfinance companies in the monetary policy have been implemented by making some new arrangements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the central bank, microfinance companies opting for merger will be allowed to set up corporate and branch offices in Kathmandu Valley. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Corporate and branch offices will be allowed to be established only in Kathmandu Metropolitan City and Lalitpur Metropolitan City</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The central bank has also amended the provision of service charge applied while providing loan services. Microfinance companies were allowed to charge 1.50 percent service charge while approving loan. With the new provision, such companies will be charging service fees annually at the same proportion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In case of loans of less than one year period, the NRB has directed microfinance companies to charge service fees proportionally at the rate of 1.50 percent on the basis of loan period. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13618', 'image' => '20210826025627_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-26 14:55:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13869', 'article_category_id' => '1', 'title' => 'Promotion of Accessible Tourism Helps Boost Economy: Report ', 'sub_title' => '', 'summary' => 'August 26: A recent study has suggested that promotion of accessible tourism could help Nepal drive the sector's recovery and boost economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 26: A recent study has suggested that promotion of accessible tourism could help Nepal drive the sector's recovery and boost economy. The study backed by the International Finance Corporation (IFC) states that investing in disability-friendly infrastructure and services can help hoteliers and entrepreneurs tap the accessible tourism market in Nepal, a growing segment globally, while driving economic growth and accelerating recovery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study was conducted by the Society of Economic Journalists of Nepal (SEJON) in collaboration with the National Federation of the Disabled, Nepal (NFDN) and was financially and technically assisted by the IFC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the Survey on Accessibility for Persons with Disabilities in Nepal’s Hotels covered 90 star-rated hotels in major cities across the country. Although 95 percent of the participating hoteliers were aware of the concept of accessible tourism, they had not invested in necessary measures to ensure accessibility for persons with disabilities, mentions the report. </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"">According to the survey, only about nine percent of the hotels had staff who were trained in or had basic knowledge of sign language while only 33 percent of the participating hotels had extra wheelchairs for guests</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The report further states that only 17 percent of the surveyed hotels had put up signs to help visually-impaired guests and 74 percent of the hotels did not have any Braille signage on door plaques and room directories. </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"">"Globally, the concept of accessible or inclusive tourism has gained ground in recent times. Accessibility at tourism destinations is key to responsible and sustainable tourism to ensure everyone can be part of the tourism experience, regardless of physical limitations, disabilities, or age," RSS quoted Wendy Werner, IFC Country Manager for Nepal, Bangladesh, and Bhutan as saying. "Accessible tourism is not only a human right, it also makes business sense." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Health Organization, globally, around one billion people are affected by some form of disability. Disability rights experts in Nepal argue that with more persons with physical limitations and disabilities travelling around the world, a focus on accessible infrastructure in hotels as well as tourism destinations can boost the number of foreign tourists in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Currently, around 2,000 tourists with disabilities visit Nepal every year," said President of the National Federation of the Disabled–Nepal, Mitra Lal Sharma. "With improved facilities and conditions that are more disability-friendly, the number could easily go up to over 10,000 tourists a year." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Hotel Association of Nepal, Shreejana Rana, observed, "Although accessible tourism is relatively new in Nepal, we are confident that with adequate support, we can push ourselves to explore and attract this growing segment of tourists to our country." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study recommends the government, the private sector, and donor agencies to work together to create a conducive environment by incorporating universal accessibility practices into relevant legal and policy provisions, with the involvement of persons with disabilities. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13617', 'image' => '20210826074211_turismo-accessibile_turismo-per-tutti.jpg', 'article_date' => '2021-08-26 07:41:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13873', 'article_category_id' => '1', 'title' => 'Sundar Yatayat Calls for Tender Bids to Build Vehicle Assembling Plant', 'sub_title' => '', 'summary' => 'August 26: Sundar Auto Engineering has started the process of setting up an industry to assemble electric vehicles in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Sundar Auto Engineering has started the process of setting up an industry to assemble electric vehicles in Nepal. The company plans to set up a plant by leasing land from Sainamaina Municipality in Butwal. The company has called for tender bids for the construction of all the infrastructures including the building required for the plant. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sundar Auto has leased 2.81 acres of land from the municipality for setting up the plant. The municipality had decided to lease government land for the establishment of the plant to Sundar Auto on July 30 after the company filed an application seeking land. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company has set a deadline of September 10 to submit tender. Chairman of the company Bhesh Bahadur Thapa said that any company involved in the construction sector can submit a tender within that period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company, which initiated the operation of electric buses for the first time in Nepal, aims to set up an assembly plant within the next one year and make public the vehicles assembled in Nepal within the next 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"">The company had agreed to receive investment from China's Sichuan Guhang Automobile in December 2020 and SEC Group from the UAE. However, the company said that work could not move forward due to the Covid-19 pandemic. Stating that an agreement has been reached between the two companies for investment, Thapa informed that an assembling plant is being set up with an initial investment of Rs 3.60 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company's investment from Nepal will be very low. Even though it will remain as a sister organization, Sichuan will have 47 percent stake and SEC will have 46 percent investment in the industry. Thapa informed that Sundar Auto will invest only 7 percent for the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company is preparing to assemble 100 vehicles in the first year, 300 in the second year and 1,000 vehicles annually from third year onwards, said Thapa. The municipality has entered into the agreement with the company to lease the land at an annual rent of Rs 600,000. In addition, the municipality has entered into an agreement with the company to provide ambulances in the first year, garbage trucks in the second year and buses to a local community school at 33 percent discount every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13616', 'image' => '20210826022928_20210706023411yatayat.jpg', 'article_date' => '2021-08-26 14:28:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13870', 'article_category_id' => '1', 'title' => 'Nepal-Thailand Discuss Trade and Investment Relations', 'sub_title' => '', 'summary' => 'August 26: The fifth meeting of Nepal-Thailand Joint Commission held virtually on Wednesday (August 25) took stock of overall state of bilateral relations between Nepal and Thailand.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 26: The fifth meeting of Nepal-Thailand Joint Commission held virtually on Wednesday (August 25) took stock of overall state of bilateral relations between Nepal and Thailand and exchanged views on further promoting cooperation between the two countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The two sides discussed the challenges posed by the COVID-19 on the lives and livelihoods of peoples of both the countries and agreed to work together in combating the pandemic. Foreign Secretary of Nepal Bharat Raj Paudyal and Permanent Secretary for Foreign Affairs of Thailand Thani Thongphakdi led their respective delegations to the meeting, according to the Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, a wide range of issues pertaining to Nepal-Thailand relations including technical cooperation, trade and investment, tourism and culture, people-to-people contacts, and education were discussed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While underscoring the need of enhancing economic engagements between the two countries, Foreign Secretary Paudyal also apprised the Thai delegation of the policy, legal, institutional and procedural reforms undertaken by the Government of Nepal with a view to creating an enabling environment for foreign investment in the country. During the meeting, he also thanked Thailand for providing Nepal with medical equipment and supplies to combat the ongoing COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two sides also exchanged views on enhancing cooperation at the regional level including through BIMSTEC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation comprised of the Ambassador of Nepal to Thailand, senior officials of the Ministry of Foreign Affairs, Ministry of Finance, Ministry of Health, Ministry of Culture, Tourism and Civil Aviation, Ministry of Industry, Commerce and Supplies, Ministry of Agriculture and Livestock Development, and Ministry of Education, Science and Technology. The Thai delegation comprised of the Royal Thai Ambassador to Nepal, senior officials of the Ministry of Foreign Affairs and the officials of Thailand International Cooperation Agency (TICA). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Sixth Meeting of the Joint Commission will take place on a mutually convenient date, added the Ministry. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13615', 'image' => '20210826074923_Flag-Pins-Thailand-Nepal_600x600.jpg', 'article_date' => '2021-08-26 07:48:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13871', 'article_category_id' => '1', 'title' => 'One More Week for Garbage Collection in Kathmandu Valley', 'sub_title' => '', 'summary' => 'August 26: The Kathmandu Valley denizens will have to endure garbage piled at different places of the valley for one more week as it would take some time to prepare a new landfill site in Bancharedanda. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 26: <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley denizens will have to endure garbage piled at different places of the valley for one more week as it would take some time to prepare a new landfill site in Bancharedanda. </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"">Government authorities say that they are creating a new cell at Bancharedanda to dump the waste.</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"">Information Officer at Ministry of Urban Development, Suresh Kumar Wagle, said that construction of the first cell of landfill site is in the final stage. However, problems still exists because the old landfill site at Sisdol must be crossed to reach the new site. Huge mass of garbage at Sisdol must be passed to reach the new site. Currently, garbage containers cannot pass via the mound, Wagle added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagle informed that they need to set up a makeshift bridge by coordinating with the Department of Roads and Kathmandu Metropolis to resolve the problem.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He also urged the residents of Kathmandu not to keep garbage outside their houses for the next 11 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment department chief at KMC, Hari Kumar Shrestha, shared that it is a recurring problem since some years because of failure to manage a long-term solution for a landfill site. He blames the Ministry of Urban Development behind such delay. According to him, there is no place left to manage waste at Sisdol so it should be managed at Banchare-danda. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Management of waste is so poor that Sisdol of Nuwakot was selected as a landfill site in 2005 AD just for two years. But, it has outlived its capacity for these many years while the government has been ignoring its responsibility to seek a long-term solution. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, 1200 metric tons of garbage is managed at Sisdole from Kathmandu Valley. The Kathmandu Valley alone generates 500 metric tons of garbage a day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bancharedanda, where a landfill for long term solution is being constructed, is two-km away from the current landfill site, Sisdol. Bancharedanda lies at the border of Nuwakot and Dhading. -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13614', 'image' => '20210826080929_1-s2.0-S0197397515001277-gr1 - Copy.jpg', 'article_date' => '2021-08-26 08:06:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13868', 'article_category_id' => '1', 'title' => 'Social Security Fund Operating with Government Loans', 'sub_title' => '', 'summary' => 'August 25: The much-disputed social security fund has been operating on loans.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 25: The much-disputed social security fund has been operating on loans. The Social Security Fund that was widely publicized as the ‘beginning of a new era’ by the government led by the former Prime Minister KP Sharma Oli, have to take loans due to the lack of its own source of income.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As per the article 26 of Social Security Act 2074, the fund has been established and staff have been managed. However, the fund lacks source to cover the salaries and facilities of the employees and expenses related to the operation of the office.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Officials claim that the SSF has to meet the expenses by taking loan from the government of Nepal every year due to the lack of its own source of income.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The fund has taken a loan of Rs 50 million in 2076/77 at an interest rate of three percent that needs to be paid within five years. It has been found that Rs 23 million has been spent on administrative operation and management. Likewise, the fund seems to be operating on debt even in 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"">This year, the fund has taken a loan of Rs 150 million from the government of Nepal. The amount has been spent on office operation, rent, employees’ salary, and facilities. Similarly, in the current fiscal year 2078/79, the fund is preparing to take a loan of Rs 220 million in installments.</span></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 is not clear in the act on how to mobilise financial resources to run the fund, so we have to take loans,” said Bibek Panthi, a spokesperson for the SSF.</span></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 him, the government should give two to three percent of the profits to the fund to cover the expenses of the fund. For this, the Act should be amended. Although the fund has continuously raised its voice in this regard, its pleas have fallen into deaf ears.</span></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 recent 58</span><sup><span style="font-family:"Times New Roman","serif"">th</span></sup><span style="font-family:"Times New Roman","serif""> report of the Office of Auditor General seems to have raised questions about the inability to manage resources for the expenditure of the SSF. The report calls for ensuring resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As per Article 20 of the contribution-based Social Security Act 2074, the employers must list the employees within six months of the commencement of the Act. Accordingly, 15,075 employers have registered 275,000 contributors till July 31, according to the fund.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Panthi said that the listing is increasing. Many workers in the formal and informal sector are unable to join the social security scheme. The government’s efforts have not been fruitful. Even though the Social Security Fund has been urging the private sector to get listed, the employees of banks and financial institutions, in particular, have not agreed to register as they believe that the facilities they have been given will be taken away. They have even filed a writ petition in the Supreme Court disagreeing with the policy taken by the fund. This issue is sub judice in the court. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-25', 'modified' => '2021-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '13613', 'image' => '20210825012820_SSF (1).jpg', 'article_date' => '2021-08-25 13:27:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '13882', 'article_category_id' => '1', 'title' => 'AITM College Launches Courses of Birmingham University in Nepal', 'sub_title' => '', 'summary' => 'August 29: Asian Institute of Technology and Management (AITM) College, Khulamtar has introduced courses of Birmingham University at the college. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 29: Asian Institute of Technology and Management (AITM) College, Khulamtar has introduced courses of Birmingham University at the college. British Ambassador to Nepal Nicola Pollitt introduced the courses in the presence of Mayor of Lalitpur Chiri Babu Maharjan amid a programme at the college on Friday, August 27, the college said in a statement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The statement says that the college is the first educational institute of Nepal to collaborate with Birmingham University.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Under this agreement, Birmingham University will provide Masters of Business Administration and BSc in Computer and Information Technology courses through the college at affordable cost.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Launching the courses at the college British Ambassador to Nepal Nicola Pollitt extended best wishes and long-lasting collaboration between the two institutes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">AITM College is a private institute that has been providing international-level undergraduate courses. Established in 2012, this college is operated by acclaimed intellectuals and scholars who have more than three decades of experience in the field of education, according to the statement issued by the college.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college claims that its infrastructure is also of international standard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The statement further says that AITM College has been providing high-standard education in collaboration with IMI University of Switzerland.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college added that it firmly believes in multinational and multicultural values and principle and aims to collaborate with other international institutions in the future. </span></span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college intends to produce skilled manpower in the country and also to attract foreign students.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13627', 'image' => '20210829023934_AITM.jpg', 'article_date' => '2021-08-29 14:38:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13880', 'article_category_id' => '1', 'title' => 'Central Bank’s Loan Investment More than Prescribed Limit: OAG Report', 'sub_title' => '', 'summary' => 'August 29: Nepal Rastra Bank, the regulatory body of banks and financial institutions (BFIs) as well as the overall economy of the country, itself is found to have made loan investment and investment in shares of various organisations against the prescribed limit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">August 29: Nepal Rastra Bank, the regulatory body of banks and financial institutions (BFIs) as well as the overall economy of the country, itself is found to have made loan investment and investment in shares of various organisations against the prescribed limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">This is clearly evident from the recently published report of the Office of the Auditor General.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">As per the Nepal Rastra Bank, the central bank can invest in shares and provide loan up to 10 percent of the paid-up capital of any company. For instance, if the paid-up capital of a company is Rs 1 billion, the central bank can provide a maximum loan of Rs 100 million to the company. However, the Office of the Auditor General claims that NRB has flouted the rule and provided loan to a microfinance company which is more than 10 percent of the paid-up capital of the company. The report prepared by the OAG also points out to faulty investment in shares by the central bank on other companies against its limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The microfinance company in question had a paid-up capital of Rs 1 billion as of 2077 BS. Therefore, the company was entitled to receive a maximum loan of Rs 100 million. However, the 58<sup>th</sup> annual report of the OAG states that NRB has provided loan of Rs 310.4 million to the company. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The loan was provided to the company on July 16, 2019 in accordance to a decision taken by the Ministry of Finance on December 10, 2018.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The loan was provided to the company in line with a tripartite agreement between the company, finance ministry and the central bank for increasing access to finance in rural areas. However, the microfinance company has mentioned in its financial report that the loan was taken from the Government of Nepal instead of central bank, states the OAG report. NRB has expressed concern regarding this issue. The central bank has maintained that it has not provided loan against the limit set by the Act.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">NRB Spokesperson Dev Kumar Dhakal dismissed the AOG report stating that it did not reflect facts. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“We have been providing loan within our limit. That particular loan might have been provided under some special arrangements,” said Dhakal, adding that the Office of the Auditor General might have lacked proper understanding regarding the working modality of the central bank.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Similarly, the central bank is also accused of investing more than the prescribed limit in shares of various companies. NRB can invest in shares up to 10 percent of the total shares of any company. However, NRB is found to has stakes on 62.14 percent shares of Agriculture Technology Service Centre, 55.56 percent stakes on National Insurance Corporation, 14.6 percent in Nepal Stock Exchange (NEPSE), 13.34 percent in Citizen Investment Trust, 10.3 percent in Loan Information Centre and 15.29 percent in a bank, according to the OAG report.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Spokesperson Dhakal said that the preparations are underway to bring the share investment in those companies under the investment ceiling.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13626', 'image' => '20210829111744_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-29 11:16:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13881', 'article_category_id' => '1', 'title' => 'Nepal Investors Forum gets a New Executive Committee', 'sub_title' => '', 'summary' => 'August 29: Nepal Investors Forum has formed a new executive committee headed by Tulsiram Dhakal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 29: Nepal Investors Forum has formed a new executive committee headed by Tulsiram Dhakal. The 16<sup>th</sup> annual general meeting of the forum on Saturday formed the seven-member committee headed by Dhakal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Raj Lamsal has been appointed as the first vice president of the forum. Similarly, Anjeev Tuladhar has been appointed vice president while Durga Tiwari is the new general secretary of the forum. Bishweshwar Subedi is the secretary and Hari Chandra Khanal is the treasurer of the new committee. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Meanwhile, other members of the committee include Ambika Sharma Lamichhane, Atit Lal Shrestha and Srijana Subedi.</span></span></p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13625', 'image' => '20210829020856_images.jpg', 'article_date' => '2021-08-29 14:08:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13879', 'article_category_id' => '1', 'title' => 'Nepal-Malaysia to Work Together for Tourism Promotion ', 'sub_title' => '', 'summary' => 'August 29: Nepal and Malaysia have expressed their readiness to work together for the promotion of tourism in both countries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: Nepal and Malaysia have expressed their readiness to work together for the promotion of tourism in both countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Tourism Board and Malaysian Embassy in Kathmandu held a meeting in this regard. Chief Executive Officer of NTB Dhananjay Regmi and first secretary of the Malaysian Embassy held talks at the Embassy on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They reached a conclusion to work together adopting stipulated health safety protocol to promote tourism in both the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both the representatives agreed to continue exchange visits of diplomats, celebrities and media persons from both the countries as a measure of promoting tourism opportunities. Tourism sector of both the countries are facing hardship due to COVID-19 pandemic and its multifarious effects. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13624', 'image' => '20210829103803_Flag-Pins-Nepal-Malaysia.jpg', 'article_date' => '2021-08-29 10:37:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13876', 'article_category_id' => '1', 'title' => 'Finance Ministry Intensifies Preparing to Introduce Replacement Bill ', 'sub_title' => '', 'summary' => 'August 27: Finance Minister Janardan Sharma has intensified preparations to replace the budget of the current fiscal year brought by the previous government through ordinance.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 27: Finance Minister Janardan Sharma has intensified preparations to replace the budget of the current fiscal year brought by the previous government through ordinance. </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"">In this regard, Finance Minister Sharma held a meeting with the secretaries of various ministries on Thursday (August 26) and collected suggestions regarding the replacement bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the finance minister shed light on government’s priorities for the replacement bill and directed the secretaries to re-send the government’s programs by amending them in line with production-oriented economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government would emphasize on implementation of federalism, maintaining fiscal discipline and increasing capital expenditure while amending the ordinance 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"">Likewise, Minister Sharma has directed various ministries to send revision proposals giving priority to reducing poverty and increasing employment, making quality health services available, and giving priority to education, agriculture and tourism sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma also said that the government would give due attention to redefine and reschedule national pride projects, utilize stagnant state assets and integrate mobilization of various funds. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the government will proper arrangements for coordination of its plans and budget while it will reconsider the projects whose resources have not been ascertained and lack prior preparations for the detailed project report (DPR).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He directed the secretaries to send the revised budget and programs of the respective ministry to the Ministry of Finance by Friday (August 27), taking into consideration the priority areas determined by the government. </span></span></span><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13623', 'image' => '20210827102501_20200327032654_5003_finance-ministy.jpg', 'article_date' => '2021-08-27 10:24:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13877', 'article_category_id' => '1', 'title' => 'Water Supply from Melamchi Likely to be Restored by Next April ', 'sub_title' => '', 'summary' => 'August 27: Melamchi Water Supply Development Board is preparing to restore water supply to Kathmandu within mid-April next year after rebuilding damaged structures and access road. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 27: Melamchi Water Supply Development Board is preparing to restore water supply to Kathmandu within mid-April next year after rebuilding damaged structures and access road. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project had suffered significant damages from the devastating flood in the Melamchi River June 15. The board has set a plan to reopen the access road in coordination with the Department of Roads, the Nepalese Army and the local government in order to repair the damaged structures. </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"">However, the exact details of loss caused to the project by subsequent floods during this monsoon is yet to be ascertained. The project site is covered with debris and sediments and the details of loss can be estimated only when they are removed, says Rajendra Prasad Panta, information officer of the board.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The project headwork remains buried under 10-15 meters of the sediments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Although the board has calculated the tentative time period for restoring water supply, it may be slightly changed because the exact loss is yet to be ascertained.</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"">Information Officer Pant said that they have been discussing about alternative water diversion as it is not possible to divert water from the headwork immediately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Access route to Ambathan of Healmbu and headwork are likely to be affected the most by the floods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The board is discussing whether to rebuild the existing access road or find an alternative one. The final decision will be taken after consultation with the experts, said Panta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13622', 'image' => '20210827104851_20210222115707_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-08-27 10:47:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13874', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Preparing to Protest against Delay on Due Settlement', 'sub_title' => '', 'summary' => 'August 26: Sugarcane farmers of Sarlahi, who have not yet received full payment for the sale of sugarcane to sugar mills, have again started their protest in the capital demanding their due payment.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Sugarcane farmers of Sarlahi, who have not yet received full payment for the sale of sugarcane to sugar mills, have again started their protest in the capital demanding their due payment.</span></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 government data, out of a total of Rs 650 million due to sugarcane farmers, Rs 150 million is yet to be paid. However, sugarcane farmers claim that they are yet to receive dues worth Rs 250 million out of the total amount of Rs 900 million.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Demanding payment of the due amount, the sugarcane farmers had held a press conference in Kathmandu in mid-July last year giving the deadline of August 21 to the sugar mills and government to clear the dues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sugarcane farmers have started preparations for the protest after their demands were not met by the government and the sugar mills. According to Rakesh Mishra, a member of the Sugarcane Farmer Struggle Committee Sarlahi, sugarcane farmers owe Rs 80 million to Annapurna Sugar Industry of Sarlahi, Rs 5 million to Mahalakshmi Sugar Mill in Sarlahi, Rs 30 million to Shri Ram Sugar Mill in Rautahat, Rs 20 million to Indira Sugar Mill Nawalparasi and Rs 20 million to Lumbini Sugar Factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“Despite repeated requests from the government to pay this amount as soon as possible, the sugar mills have not responded. So there is no alternative than to protest. We are fully prepared for the movement which can start anytime,” he told New Business Age. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Furthermore, he said that ith the government has assured them several times that it will facilitate in clearing the dues, but many farmers have not received any amount yet and they are not ready to make any agreement 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"">Secretary of the committee Harishyam Raya said that the task force formed to resolve the issue of Rs 900 million claimed by the farmers and Rs 650 million claimed by the government has also been unfair to them.</span></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 him, the task force did not disclose the amount even though it was mentioned that the farmers were yet to receive the due from the industrialists. All Nepal Peasants’ Union, All Nepal Progressive Peasants’ Association, All Nepal Peasants’ Federation and other organizations have also supported the sugarcane farmers. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13621', 'image' => '20210826024723_20210730041505_20210125102806_20201229113333_1609164432.jpg', 'article_date' => '2021-08-26 14:46:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13878', 'article_category_id' => '1', 'title' => 'NRB Report Shows Average Inflation of 3.6 Percent ', 'sub_title' => 'Trade Deficit and Remittance Inflow Up while Current Account in Deficit, BoP in Surplus', 'summary' => 'August 27: The average consumer price inflation stood at 3.60 percent in Fiscal Year 2020/21 compared to 6.15 percent a year ago, according to Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 27: The average consumer price inflation stood at 3.60 percent in Fiscal Year 2020/21 compared to 6.15 percent a year ago, according to 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:"Arial","sans-serif"">Unveiling the annual report on Current Macroeconomic and Financial Situation of last fiscal year on Thursday (August 26), the central bank said that the average consumer price of ghee and oil; pulses and legumes; tobacco products; and transportation sub-groups rose 17.54 percent, 10.65 percent, 9.83 percent and 6.41 percent respectively on annual basis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Export</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">During 2020/ 21, merchandise exports increased 44.4 percent to Rs 141.12 billion compared to an increase of 0.6 percent in the previous year, 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:"Arial","sans-serif"">Destination-wise, exports to India and other countries increased 51.7 percent and 27.7 percent respectively whereas exports to China decreased 14.7 percent. Exports of soybean oil, cardamom, polyester yarn and threads, jute products, woolen carpet, among others, increased whereas exports of palm oil, pulses, zinc sheet, wire, cattle feed, among others, decreased in the review period. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Import </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Likewise, in FY 2020/21, merchandise imports increased 28.7 percent to Rs 1539.84 billion against a decrease of 15.6 percent a year ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Destination-wise, imports from India, China and other countries increased 32.1 percent, 28.6 percent and 19.6 percent respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Imports of transport equipment and parts, crude soybean oil, MS billet, rice, gold, among others, increased whereas imports of aircraft spare parts, crude palm oil, video television and parts, cold-rolled sheet in coil, betel-nut, among others, decreased in the review period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Trade Deficit</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the report, the total trade deficit increased 27.3 percent to Rs 1398.71 billion during 2020/21. Such a deficit had decreased 16.8 percent in the previous year. The export-import ratio increased to 9.2 percent in the review period from 8.2 percent in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Remittance </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Meanwhile, inflow of remittance increased 9.8 percent to Rs 961.05 billion in the review year against a decrease of 0.5 percent in the previous year. In terms of US Dollar, remittance inflow increased 8.2 percent to 8.15 billion in the review year against a decrease of 3.3 percent in the previous year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Foreign Employment </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The number of Nepali workers taking approval for foreign employment decreased 62.8 percent in the review year. It had decreased 20.5 percent in the previous year. The number of Nepali workers (renew entry) taking approval for foreign employment decreased 46.8 percent in the review year. It had decreased 34.7 percent in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Current Account</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Meanwhile, the current account remained at a deficit of Rs 333.67 billion in the review year compared to a deficit of Rs 33.76 billion in the previous year. In the US Dollar terms, the current account registered a deficit of 2.84 billion in the review year compared to a deficit of 339.8 million in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Capital Transfer</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">In the review year, capital transfer increased 7.4 percent to Rs 15.26 billion and net foreign direct investment (FDI) increased 0.2 percent to Rs 19.51 billion. In the previous year, capital transfer and net FDI amounted to Rs 14.21 billion and Rs 19.48 billion respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Balance of Payments </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">On the other hand, Balance of Payments (BOP) registered a surplus of Rs 1.23 billion in the review year compared to a surplus of Rs 282.41 billion in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Refinancing</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The report further states that NRB approved Rs 148.75 billion refinance in 2020/21. The outstanding amount of refinance provided by NRB remained Rs 122.70 billion in mid-July 2021. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Concessional Loan</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">As of mid-July 2021, the outstanding concessional loan is Rs 161.44 billion extended to 104,109 borrowers. Of which, Rs 106.98 billion has been extended to 46,057 borrowers for commercial agriculture and livestock businesses.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 50.98 billion loan has been extended to 55,551 women entrepreneurs. Remaining Rs 3.48 billion loan has been extended to 2,501 borrowers of other categories of concessional loans. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Business Continuity Loan</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Business continuity loan has been extended to the Covid-19 affected tourism, cottage, small and medium industries for payment of salaries to workers and employees in line with 'Business Continuity Loan Procedure, 2077'. Under this provision, Rs 956.7 million loan has been approved as of mid-July 2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Branch Extension</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Of the total 753 local levels, commercial banks extended their branches at 750 levels as of mid-July 2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Gross Domestic Product Growth</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The Central Bureau of Statistics has estimated the Gross Domestic Product growth of 4.01 percent for 2020/21. Agriculture, industry and service sectors are estimated to grow 2.64 percent, 5.05 percent and 4.43 percent respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The share of agriculture, industry and service sectors in GDP stands 25.83 percent, 13.11 percent and 61.06 percent respectively in 2020/21. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Gross domestic saving to GDP stands 6.6 percent in 2020/21. Ratio of gross fixed capital formation and gross national saving to GDP stands 27.26 percent and 32.30 percent respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Hydro Electricity Capacity and Reconstruction</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The installed capacity of hydro electricity increased to 1458 Megawatt in 2020/21. According to National Reconstruction Authority, reconstruction of 74.2 percent and 93.5 percent of private houses and government buildings, respectively, have been completed by the end of 2020/21. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Tourist Arrival </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The total number of tourist arrivals decreased 90.9 percent to 70,123 in 2020/21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13620', 'image' => '20210827112249_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-27 11:19:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13872', 'article_category_id' => '1', 'title' => 'Nepal Imports Mobile Phones worth Rs 37 Billion ', 'sub_title' => '', 'summary' => 'August 26: Around 7 million sets of mobile phones worth Rs 36.90 billion were imported in Nepal in the last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Around 7 million sets of mobile phones worth Rs 36.90 billion were imported in Nepal in the last fiscal year. Consumption of mobile phones has increased in Nepal due to the new environment created by the lockdown.</span></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 growing trend of online classrooms and zoom conferences, increase in inflow of remittances, access to electricity at rural areas, increasing use of mobile phones in teaching methods, increasing practice of online version in government services and information technology-friendly society have contributed in increasing the demand for mobile phones in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">About 62 percent of Nepal's mobile phones are imported from China, while other major source countries are India and Vietnam.</span></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 customs department, revenue of Rs 5.84 billion has been received from mobile phone import 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"">Import of mobile phones in Nepal:</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td 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"">Fiscal Year</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (1 million sets)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (in billion rupees)</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"">2008/9</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"">-</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"">2.27</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"">2009/10</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"">1.72</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"">6.01</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"">2010/11</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"">1.74</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"">4.47</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"">2011/12</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"">1.93</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"">5.01</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"">2012/13</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"">2.16</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"">5.98</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"">2013/14</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"">3.12</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"">9.91</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"">2014/15</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"">3.81</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"">13.05</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"">2015/16</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"">4.99</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"">18.20</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"">2016/17</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"">5.95</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"">22.66</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"">2017/18</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"">6.22</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"">24.88</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"">2018/19</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"">4.28</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"">19.28</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"">2019/20</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"">4.37</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"">18.18</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"">2020/21</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"">7.03</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"">36.90</span></span></span></p> </td> </tr> <tr> <td colspan="3" 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"><em><span style="font-family:"Times New Roman","serif"">Source: Trade and Export Promotion Centre</span></em></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"">Import of mobile phones in fiscal year 2020/21</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td 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"">Countries</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (in Billions)</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"">Total</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"">36.90</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"">China</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"">22.83</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"">India</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"">12.50</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"">Vietnam</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"">1.26</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"">Others</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"">0.31</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"><em><span style="font-family:"Times New Roman","serif"">Source: Customs Department</span></em></span></span></p> </td> </tr> </tbody> </table> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13619', 'image' => '20210826021915_20201019114758_1603066095.34 2.jpg', 'article_date' => '2021-08-26 14:17:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13875', 'article_category_id' => '1', 'title' => 'Microfinance Companies told to Prepare Financial Statements in line with NFRS', 'sub_title' => '', 'summary' => 'August 26: Nepal Rastra Bank (NRB) has amended the Unified Directive making it mandatory for microfinance companies to prepare their financial statements according to Nepal Financial Reporting Standards (NFRS).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 26: Nepal Rastra Bank (NRB) has amended the Unified Directive making it mandatory for microfinance companies to prepare their financial statements according to Nepal Financial Reporting Standards (NFRS).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, microfinance companies used to prepare financial statements according to Nepal Accounting Standards (NAS). From now on, NRB has directed them to prepare the financial statements as per NFRS. The central bank has said the financial statements of 2020/21 should also be prepared according to the NFRS system.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">NRB has implemented some of the provisions announced in the monetary policy regarding microfinance companies by amending the Unified Directive. Dev Kumar Dhakal, spokesperson of the central bank, informed that provisions introduced for microfinance companies in the monetary policy have been implemented by making some new arrangements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the central bank, microfinance companies opting for merger will be allowed to set up corporate and branch offices in Kathmandu Valley. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Corporate and branch offices will be allowed to be established only in Kathmandu Metropolitan City and Lalitpur Metropolitan City</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The central bank has also amended the provision of service charge applied while providing loan services. Microfinance companies were allowed to charge 1.50 percent service charge while approving loan. With the new provision, such companies will be charging service fees annually at the same proportion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In case of loans of less than one year period, the NRB has directed microfinance companies to charge service fees proportionally at the rate of 1.50 percent on the basis of loan period. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13618', 'image' => '20210826025627_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-26 14:55:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13869', 'article_category_id' => '1', 'title' => 'Promotion of Accessible Tourism Helps Boost Economy: Report ', 'sub_title' => '', 'summary' => 'August 26: A recent study has suggested that promotion of accessible tourism could help Nepal drive the sector's recovery and boost economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 26: A recent study has suggested that promotion of accessible tourism could help Nepal drive the sector's recovery and boost economy. The study backed by the International Finance Corporation (IFC) states that investing in disability-friendly infrastructure and services can help hoteliers and entrepreneurs tap the accessible tourism market in Nepal, a growing segment globally, while driving economic growth and accelerating recovery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study was conducted by the Society of Economic Journalists of Nepal (SEJON) in collaboration with the National Federation of the Disabled, Nepal (NFDN) and was financially and technically assisted by the IFC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the Survey on Accessibility for Persons with Disabilities in Nepal’s Hotels covered 90 star-rated hotels in major cities across the country. Although 95 percent of the participating hoteliers were aware of the concept of accessible tourism, they had not invested in necessary measures to ensure accessibility for persons with disabilities, mentions the report. </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"">According to the survey, only about nine percent of the hotels had staff who were trained in or had basic knowledge of sign language while only 33 percent of the participating hotels had extra wheelchairs for guests</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The report further states that only 17 percent of the surveyed hotels had put up signs to help visually-impaired guests and 74 percent of the hotels did not have any Braille signage on door plaques and room directories. </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"">"Globally, the concept of accessible or inclusive tourism has gained ground in recent times. Accessibility at tourism destinations is key to responsible and sustainable tourism to ensure everyone can be part of the tourism experience, regardless of physical limitations, disabilities, or age," RSS quoted Wendy Werner, IFC Country Manager for Nepal, Bangladesh, and Bhutan as saying. "Accessible tourism is not only a human right, it also makes business sense." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Health Organization, globally, around one billion people are affected by some form of disability. Disability rights experts in Nepal argue that with more persons with physical limitations and disabilities travelling around the world, a focus on accessible infrastructure in hotels as well as tourism destinations can boost the number of foreign tourists in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Currently, around 2,000 tourists with disabilities visit Nepal every year," said President of the National Federation of the Disabled–Nepal, Mitra Lal Sharma. "With improved facilities and conditions that are more disability-friendly, the number could easily go up to over 10,000 tourists a year." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Hotel Association of Nepal, Shreejana Rana, observed, "Although accessible tourism is relatively new in Nepal, we are confident that with adequate support, we can push ourselves to explore and attract this growing segment of tourists to our country." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study recommends the government, the private sector, and donor agencies to work together to create a conducive environment by incorporating universal accessibility practices into relevant legal and policy provisions, with the involvement of persons with disabilities. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13617', 'image' => '20210826074211_turismo-accessibile_turismo-per-tutti.jpg', 'article_date' => '2021-08-26 07:41:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13873', 'article_category_id' => '1', 'title' => 'Sundar Yatayat Calls for Tender Bids to Build Vehicle Assembling Plant', 'sub_title' => '', 'summary' => 'August 26: Sundar Auto Engineering has started the process of setting up an industry to assemble electric vehicles in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Sundar Auto Engineering has started the process of setting up an industry to assemble electric vehicles in Nepal. The company plans to set up a plant by leasing land from Sainamaina Municipality in Butwal. The company has called for tender bids for the construction of all the infrastructures including the building required for the plant. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sundar Auto has leased 2.81 acres of land from the municipality for setting up the plant. The municipality had decided to lease government land for the establishment of the plant to Sundar Auto on July 30 after the company filed an application seeking land. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company has set a deadline of September 10 to submit tender. Chairman of the company Bhesh Bahadur Thapa said that any company involved in the construction sector can submit a tender within that period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company, which initiated the operation of electric buses for the first time in Nepal, aims to set up an assembly plant within the next one year and make public the vehicles assembled in Nepal within the next 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"">The company had agreed to receive investment from China's Sichuan Guhang Automobile in December 2020 and SEC Group from the UAE. However, the company said that work could not move forward due to the Covid-19 pandemic. Stating that an agreement has been reached between the two companies for investment, Thapa informed that an assembling plant is being set up with an initial investment of Rs 3.60 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company's investment from Nepal will be very low. Even though it will remain as a sister organization, Sichuan will have 47 percent stake and SEC will have 46 percent investment in the industry. Thapa informed that Sundar Auto will invest only 7 percent for the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company is preparing to assemble 100 vehicles in the first year, 300 in the second year and 1,000 vehicles annually from third year onwards, said Thapa. The municipality has entered into the agreement with the company to lease the land at an annual rent of Rs 600,000. In addition, the municipality has entered into an agreement with the company to provide ambulances in the first year, garbage trucks in the second year and buses to a local community school at 33 percent discount every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13616', 'image' => '20210826022928_20210706023411yatayat.jpg', 'article_date' => '2021-08-26 14:28:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13870', 'article_category_id' => '1', 'title' => 'Nepal-Thailand Discuss Trade and Investment Relations', 'sub_title' => '', 'summary' => 'August 26: The fifth meeting of Nepal-Thailand Joint Commission held virtually on Wednesday (August 25) took stock of overall state of bilateral relations between Nepal and Thailand.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 26: The fifth meeting of Nepal-Thailand Joint Commission held virtually on Wednesday (August 25) took stock of overall state of bilateral relations between Nepal and Thailand and exchanged views on further promoting cooperation between the two countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The two sides discussed the challenges posed by the COVID-19 on the lives and livelihoods of peoples of both the countries and agreed to work together in combating the pandemic. Foreign Secretary of Nepal Bharat Raj Paudyal and Permanent Secretary for Foreign Affairs of Thailand Thani Thongphakdi led their respective delegations to the meeting, according to the Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, a wide range of issues pertaining to Nepal-Thailand relations including technical cooperation, trade and investment, tourism and culture, people-to-people contacts, and education were discussed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While underscoring the need of enhancing economic engagements between the two countries, Foreign Secretary Paudyal also apprised the Thai delegation of the policy, legal, institutional and procedural reforms undertaken by the Government of Nepal with a view to creating an enabling environment for foreign investment in the country. During the meeting, he also thanked Thailand for providing Nepal with medical equipment and supplies to combat the ongoing COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two sides also exchanged views on enhancing cooperation at the regional level including through BIMSTEC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation comprised of the Ambassador of Nepal to Thailand, senior officials of the Ministry of Foreign Affairs, Ministry of Finance, Ministry of Health, Ministry of Culture, Tourism and Civil Aviation, Ministry of Industry, Commerce and Supplies, Ministry of Agriculture and Livestock Development, and Ministry of Education, Science and Technology. The Thai delegation comprised of the Royal Thai Ambassador to Nepal, senior officials of the Ministry of Foreign Affairs and the officials of Thailand International Cooperation Agency (TICA). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Sixth Meeting of the Joint Commission will take place on a mutually convenient date, added the Ministry. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13615', 'image' => '20210826074923_Flag-Pins-Thailand-Nepal_600x600.jpg', 'article_date' => '2021-08-26 07:48:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13871', 'article_category_id' => '1', 'title' => 'One More Week for Garbage Collection in Kathmandu Valley', 'sub_title' => '', 'summary' => 'August 26: The Kathmandu Valley denizens will have to endure garbage piled at different places of the valley for one more week as it would take some time to prepare a new landfill site in Bancharedanda. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 26: <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley denizens will have to endure garbage piled at different places of the valley for one more week as it would take some time to prepare a new landfill site in Bancharedanda. </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"">Government authorities say that they are creating a new cell at Bancharedanda to dump the waste.</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"">Information Officer at Ministry of Urban Development, Suresh Kumar Wagle, said that construction of the first cell of landfill site is in the final stage. However, problems still exists because the old landfill site at Sisdol must be crossed to reach the new site. Huge mass of garbage at Sisdol must be passed to reach the new site. Currently, garbage containers cannot pass via the mound, Wagle added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagle informed that they need to set up a makeshift bridge by coordinating with the Department of Roads and Kathmandu Metropolis to resolve the problem.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He also urged the residents of Kathmandu not to keep garbage outside their houses for the next 11 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment department chief at KMC, Hari Kumar Shrestha, shared that it is a recurring problem since some years because of failure to manage a long-term solution for a landfill site. He blames the Ministry of Urban Development behind such delay. According to him, there is no place left to manage waste at Sisdol so it should be managed at Banchare-danda. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Management of waste is so poor that Sisdol of Nuwakot was selected as a landfill site in 2005 AD just for two years. But, it has outlived its capacity for these many years while the government has been ignoring its responsibility to seek a long-term solution. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, 1200 metric tons of garbage is managed at Sisdole from Kathmandu Valley. The Kathmandu Valley alone generates 500 metric tons of garbage a day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bancharedanda, where a landfill for long term solution is being constructed, is two-km away from the current landfill site, Sisdol. Bancharedanda lies at the border of Nuwakot and Dhading. -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13614', 'image' => '20210826080929_1-s2.0-S0197397515001277-gr1 - Copy.jpg', 'article_date' => '2021-08-26 08:06:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13868', 'article_category_id' => '1', 'title' => 'Social Security Fund Operating with Government Loans', 'sub_title' => '', 'summary' => 'August 25: The much-disputed social security fund has been operating on loans.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 25: The much-disputed social security fund has been operating on loans. The Social Security Fund that was widely publicized as the ‘beginning of a new era’ by the government led by the former Prime Minister KP Sharma Oli, have to take loans due to the lack of its own source of income.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As per the article 26 of Social Security Act 2074, the fund has been established and staff have been managed. However, the fund lacks source to cover the salaries and facilities of the employees and expenses related to the operation of the office.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Officials claim that the SSF has to meet the expenses by taking loan from the government of Nepal every year due to the lack of its own source of income.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The fund has taken a loan of Rs 50 million in 2076/77 at an interest rate of three percent that needs to be paid within five years. It has been found that Rs 23 million has been spent on administrative operation and management. Likewise, the fund seems to be operating on debt even in 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"">This year, the fund has taken a loan of Rs 150 million from the government of Nepal. The amount has been spent on office operation, rent, employees’ salary, and facilities. Similarly, in the current fiscal year 2078/79, the fund is preparing to take a loan of Rs 220 million in installments.</span></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 is not clear in the act on how to mobilise financial resources to run the fund, so we have to take loans,” said Bibek Panthi, a spokesperson for the SSF.</span></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 him, the government should give two to three percent of the profits to the fund to cover the expenses of the fund. For this, the Act should be amended. Although the fund has continuously raised its voice in this regard, its pleas have fallen into deaf ears.</span></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 recent 58</span><sup><span style="font-family:"Times New Roman","serif"">th</span></sup><span style="font-family:"Times New Roman","serif""> report of the Office of Auditor General seems to have raised questions about the inability to manage resources for the expenditure of the SSF. The report calls for ensuring resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As per Article 20 of the contribution-based Social Security Act 2074, the employers must list the employees within six months of the commencement of the Act. Accordingly, 15,075 employers have registered 275,000 contributors till July 31, according to the fund.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Panthi said that the listing is increasing. Many workers in the formal and informal sector are unable to join the social security scheme. The government’s efforts have not been fruitful. Even though the Social Security Fund has been urging the private sector to get listed, the employees of banks and financial institutions, in particular, have not agreed to register as they believe that the facilities they have been given will be taken away. They have even filed a writ petition in the Supreme Court disagreeing with the policy taken by the fund. This issue is sub judice in the court. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-25', 'modified' => '2021-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '13613', 'image' => '20210825012820_SSF (1).jpg', 'article_date' => '2021-08-25 13:27:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 29: Asian Institute of Technology and Management (AITM) College, Khulamtar has introduced courses of Birmingham University at the college. British Ambassador to Nepal Nicola Pollitt introduced the courses in the presence of Mayor of Lalitpur Chiri Babu Maharjan amid a programme at the college on Friday, August 27, the college said in a statement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The statement says that the college is the first educational institute of Nepal to collaborate with Birmingham University.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Under this agreement, Birmingham University will provide Masters of Business Administration and BSc in Computer and Information Technology courses through the college at affordable cost.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Launching the courses at the college British Ambassador to Nepal Nicola Pollitt extended best wishes and long-lasting collaboration between the two institutes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">AITM College is a private institute that has been providing international-level undergraduate courses. Established in 2012, this college is operated by acclaimed intellectuals and scholars who have more than three decades of experience in the field of education, according to the statement issued by the college.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college claims that its infrastructure is also of international standard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The statement further says that AITM College has been providing high-standard education in collaboration with IMI University of Switzerland.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college added that it firmly believes in multinational and multicultural values and principle and aims to collaborate with other international institutions in the future. </span></span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college intends to produce skilled manpower in the country and also to attract foreign students.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13627', 'image' => '20210829023934_AITM.jpg', 'article_date' => '2021-08-29 14:38:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13880', 'article_category_id' => '1', 'title' => 'Central Bank’s Loan Investment More than Prescribed Limit: OAG Report', 'sub_title' => '', 'summary' => 'August 29: Nepal Rastra Bank, the regulatory body of banks and financial institutions (BFIs) as well as the overall economy of the country, itself is found to have made loan investment and investment in shares of various organisations against the prescribed limit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">August 29: Nepal Rastra Bank, the regulatory body of banks and financial institutions (BFIs) as well as the overall economy of the country, itself is found to have made loan investment and investment in shares of various organisations against the prescribed limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">This is clearly evident from the recently published report of the Office of the Auditor General.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">As per the Nepal Rastra Bank, the central bank can invest in shares and provide loan up to 10 percent of the paid-up capital of any company. For instance, if the paid-up capital of a company is Rs 1 billion, the central bank can provide a maximum loan of Rs 100 million to the company. However, the Office of the Auditor General claims that NRB has flouted the rule and provided loan to a microfinance company which is more than 10 percent of the paid-up capital of the company. The report prepared by the OAG also points out to faulty investment in shares by the central bank on other companies against its limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The microfinance company in question had a paid-up capital of Rs 1 billion as of 2077 BS. Therefore, the company was entitled to receive a maximum loan of Rs 100 million. However, the 58<sup>th</sup> annual report of the OAG states that NRB has provided loan of Rs 310.4 million to the company. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The loan was provided to the company on July 16, 2019 in accordance to a decision taken by the Ministry of Finance on December 10, 2018.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The loan was provided to the company in line with a tripartite agreement between the company, finance ministry and the central bank for increasing access to finance in rural areas. However, the microfinance company has mentioned in its financial report that the loan was taken from the Government of Nepal instead of central bank, states the OAG report. NRB has expressed concern regarding this issue. The central bank has maintained that it has not provided loan against the limit set by the Act.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">NRB Spokesperson Dev Kumar Dhakal dismissed the AOG report stating that it did not reflect facts. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“We have been providing loan within our limit. That particular loan might have been provided under some special arrangements,” said Dhakal, adding that the Office of the Auditor General might have lacked proper understanding regarding the working modality of the central bank.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Similarly, the central bank is also accused of investing more than the prescribed limit in shares of various companies. NRB can invest in shares up to 10 percent of the total shares of any company. However, NRB is found to has stakes on 62.14 percent shares of Agriculture Technology Service Centre, 55.56 percent stakes on National Insurance Corporation, 14.6 percent in Nepal Stock Exchange (NEPSE), 13.34 percent in Citizen Investment Trust, 10.3 percent in Loan Information Centre and 15.29 percent in a bank, according to the OAG report.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Spokesperson Dhakal said that the preparations are underway to bring the share investment in those companies under the investment ceiling.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13626', 'image' => '20210829111744_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-29 11:16:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13881', 'article_category_id' => '1', 'title' => 'Nepal Investors Forum gets a New Executive Committee', 'sub_title' => '', 'summary' => 'August 29: Nepal Investors Forum has formed a new executive committee headed by Tulsiram Dhakal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 29: Nepal Investors Forum has formed a new executive committee headed by Tulsiram Dhakal. The 16<sup>th</sup> annual general meeting of the forum on Saturday formed the seven-member committee headed by Dhakal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Raj Lamsal has been appointed as the first vice president of the forum. Similarly, Anjeev Tuladhar has been appointed vice president while Durga Tiwari is the new general secretary of the forum. Bishweshwar Subedi is the secretary and Hari Chandra Khanal is the treasurer of the new committee. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Meanwhile, other members of the committee include Ambika Sharma Lamichhane, Atit Lal Shrestha and Srijana Subedi.</span></span></p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13625', 'image' => '20210829020856_images.jpg', 'article_date' => '2021-08-29 14:08:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13879', 'article_category_id' => '1', 'title' => 'Nepal-Malaysia to Work Together for Tourism Promotion ', 'sub_title' => '', 'summary' => 'August 29: Nepal and Malaysia have expressed their readiness to work together for the promotion of tourism in both countries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: Nepal and Malaysia have expressed their readiness to work together for the promotion of tourism in both countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Tourism Board and Malaysian Embassy in Kathmandu held a meeting in this regard. Chief Executive Officer of NTB Dhananjay Regmi and first secretary of the Malaysian Embassy held talks at the Embassy on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They reached a conclusion to work together adopting stipulated health safety protocol to promote tourism in both the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both the representatives agreed to continue exchange visits of diplomats, celebrities and media persons from both the countries as a measure of promoting tourism opportunities. Tourism sector of both the countries are facing hardship due to COVID-19 pandemic and its multifarious effects. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13624', 'image' => '20210829103803_Flag-Pins-Nepal-Malaysia.jpg', 'article_date' => '2021-08-29 10:37:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13876', 'article_category_id' => '1', 'title' => 'Finance Ministry Intensifies Preparing to Introduce Replacement Bill ', 'sub_title' => '', 'summary' => 'August 27: Finance Minister Janardan Sharma has intensified preparations to replace the budget of the current fiscal year brought by the previous government through ordinance.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 27: Finance Minister Janardan Sharma has intensified preparations to replace the budget of the current fiscal year brought by the previous government through ordinance. </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"">In this regard, Finance Minister Sharma held a meeting with the secretaries of various ministries on Thursday (August 26) and collected suggestions regarding the replacement bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the finance minister shed light on government’s priorities for the replacement bill and directed the secretaries to re-send the government’s programs by amending them in line with production-oriented economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government would emphasize on implementation of federalism, maintaining fiscal discipline and increasing capital expenditure while amending the ordinance 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"">Likewise, Minister Sharma has directed various ministries to send revision proposals giving priority to reducing poverty and increasing employment, making quality health services available, and giving priority to education, agriculture and tourism sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma also said that the government would give due attention to redefine and reschedule national pride projects, utilize stagnant state assets and integrate mobilization of various funds. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the government will proper arrangements for coordination of its plans and budget while it will reconsider the projects whose resources have not been ascertained and lack prior preparations for the detailed project report (DPR).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He directed the secretaries to send the revised budget and programs of the respective ministry to the Ministry of Finance by Friday (August 27), taking into consideration the priority areas determined by the government. </span></span></span><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13623', 'image' => '20210827102501_20200327032654_5003_finance-ministy.jpg', 'article_date' => '2021-08-27 10:24:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13877', 'article_category_id' => '1', 'title' => 'Water Supply from Melamchi Likely to be Restored by Next April ', 'sub_title' => '', 'summary' => 'August 27: Melamchi Water Supply Development Board is preparing to restore water supply to Kathmandu within mid-April next year after rebuilding damaged structures and access road. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 27: Melamchi Water Supply Development Board is preparing to restore water supply to Kathmandu within mid-April next year after rebuilding damaged structures and access road. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project had suffered significant damages from the devastating flood in the Melamchi River June 15. The board has set a plan to reopen the access road in coordination with the Department of Roads, the Nepalese Army and the local government in order to repair the damaged structures. </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"">However, the exact details of loss caused to the project by subsequent floods during this monsoon is yet to be ascertained. The project site is covered with debris and sediments and the details of loss can be estimated only when they are removed, says Rajendra Prasad Panta, information officer of the board.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The project headwork remains buried under 10-15 meters of the sediments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Although the board has calculated the tentative time period for restoring water supply, it may be slightly changed because the exact loss is yet to be ascertained.</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"">Information Officer Pant said that they have been discussing about alternative water diversion as it is not possible to divert water from the headwork immediately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Access route to Ambathan of Healmbu and headwork are likely to be affected the most by the floods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The board is discussing whether to rebuild the existing access road or find an alternative one. The final decision will be taken after consultation with the experts, said Panta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13622', 'image' => '20210827104851_20210222115707_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-08-27 10:47:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13874', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Preparing to Protest against Delay on Due Settlement', 'sub_title' => '', 'summary' => 'August 26: Sugarcane farmers of Sarlahi, who have not yet received full payment for the sale of sugarcane to sugar mills, have again started their protest in the capital demanding their due payment.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Sugarcane farmers of Sarlahi, who have not yet received full payment for the sale of sugarcane to sugar mills, have again started their protest in the capital demanding their due payment.</span></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 government data, out of a total of Rs 650 million due to sugarcane farmers, Rs 150 million is yet to be paid. However, sugarcane farmers claim that they are yet to receive dues worth Rs 250 million out of the total amount of Rs 900 million.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Demanding payment of the due amount, the sugarcane farmers had held a press conference in Kathmandu in mid-July last year giving the deadline of August 21 to the sugar mills and government to clear the dues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sugarcane farmers have started preparations for the protest after their demands were not met by the government and the sugar mills. According to Rakesh Mishra, a member of the Sugarcane Farmer Struggle Committee Sarlahi, sugarcane farmers owe Rs 80 million to Annapurna Sugar Industry of Sarlahi, Rs 5 million to Mahalakshmi Sugar Mill in Sarlahi, Rs 30 million to Shri Ram Sugar Mill in Rautahat, Rs 20 million to Indira Sugar Mill Nawalparasi and Rs 20 million to Lumbini Sugar Factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“Despite repeated requests from the government to pay this amount as soon as possible, the sugar mills have not responded. So there is no alternative than to protest. We are fully prepared for the movement which can start anytime,” he told New Business Age. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Furthermore, he said that ith the government has assured them several times that it will facilitate in clearing the dues, but many farmers have not received any amount yet and they are not ready to make any agreement 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"">Secretary of the committee Harishyam Raya said that the task force formed to resolve the issue of Rs 900 million claimed by the farmers and Rs 650 million claimed by the government has also been unfair to them.</span></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 him, the task force did not disclose the amount even though it was mentioned that the farmers were yet to receive the due from the industrialists. All Nepal Peasants’ Union, All Nepal Progressive Peasants’ Association, All Nepal Peasants’ Federation and other organizations have also supported the sugarcane farmers. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13621', 'image' => '20210826024723_20210730041505_20210125102806_20201229113333_1609164432.jpg', 'article_date' => '2021-08-26 14:46:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13878', 'article_category_id' => '1', 'title' => 'NRB Report Shows Average Inflation of 3.6 Percent ', 'sub_title' => 'Trade Deficit and Remittance Inflow Up while Current Account in Deficit, BoP in Surplus', 'summary' => 'August 27: The average consumer price inflation stood at 3.60 percent in Fiscal Year 2020/21 compared to 6.15 percent a year ago, according to Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 27: The average consumer price inflation stood at 3.60 percent in Fiscal Year 2020/21 compared to 6.15 percent a year ago, according to 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:"Arial","sans-serif"">Unveiling the annual report on Current Macroeconomic and Financial Situation of last fiscal year on Thursday (August 26), the central bank said that the average consumer price of ghee and oil; pulses and legumes; tobacco products; and transportation sub-groups rose 17.54 percent, 10.65 percent, 9.83 percent and 6.41 percent respectively on annual basis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Export</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">During 2020/ 21, merchandise exports increased 44.4 percent to Rs 141.12 billion compared to an increase of 0.6 percent in the previous year, 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:"Arial","sans-serif"">Destination-wise, exports to India and other countries increased 51.7 percent and 27.7 percent respectively whereas exports to China decreased 14.7 percent. Exports of soybean oil, cardamom, polyester yarn and threads, jute products, woolen carpet, among others, increased whereas exports of palm oil, pulses, zinc sheet, wire, cattle feed, among others, decreased in the review period. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Import </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Likewise, in FY 2020/21, merchandise imports increased 28.7 percent to Rs 1539.84 billion against a decrease of 15.6 percent a year ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Destination-wise, imports from India, China and other countries increased 32.1 percent, 28.6 percent and 19.6 percent respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Imports of transport equipment and parts, crude soybean oil, MS billet, rice, gold, among others, increased whereas imports of aircraft spare parts, crude palm oil, video television and parts, cold-rolled sheet in coil, betel-nut, among others, decreased in the review period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Trade Deficit</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the report, the total trade deficit increased 27.3 percent to Rs 1398.71 billion during 2020/21. Such a deficit had decreased 16.8 percent in the previous year. The export-import ratio increased to 9.2 percent in the review period from 8.2 percent in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Remittance </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Meanwhile, inflow of remittance increased 9.8 percent to Rs 961.05 billion in the review year against a decrease of 0.5 percent in the previous year. In terms of US Dollar, remittance inflow increased 8.2 percent to 8.15 billion in the review year against a decrease of 3.3 percent in the previous year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Foreign Employment </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The number of Nepali workers taking approval for foreign employment decreased 62.8 percent in the review year. It had decreased 20.5 percent in the previous year. The number of Nepali workers (renew entry) taking approval for foreign employment decreased 46.8 percent in the review year. It had decreased 34.7 percent in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Current Account</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Meanwhile, the current account remained at a deficit of Rs 333.67 billion in the review year compared to a deficit of Rs 33.76 billion in the previous year. In the US Dollar terms, the current account registered a deficit of 2.84 billion in the review year compared to a deficit of 339.8 million in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Capital Transfer</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">In the review year, capital transfer increased 7.4 percent to Rs 15.26 billion and net foreign direct investment (FDI) increased 0.2 percent to Rs 19.51 billion. In the previous year, capital transfer and net FDI amounted to Rs 14.21 billion and Rs 19.48 billion respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Balance of Payments </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">On the other hand, Balance of Payments (BOP) registered a surplus of Rs 1.23 billion in the review year compared to a surplus of Rs 282.41 billion in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Refinancing</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The report further states that NRB approved Rs 148.75 billion refinance in 2020/21. The outstanding amount of refinance provided by NRB remained Rs 122.70 billion in mid-July 2021. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Concessional Loan</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">As of mid-July 2021, the outstanding concessional loan is Rs 161.44 billion extended to 104,109 borrowers. Of which, Rs 106.98 billion has been extended to 46,057 borrowers for commercial agriculture and livestock businesses.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 50.98 billion loan has been extended to 55,551 women entrepreneurs. Remaining Rs 3.48 billion loan has been extended to 2,501 borrowers of other categories of concessional loans. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Business Continuity Loan</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Business continuity loan has been extended to the Covid-19 affected tourism, cottage, small and medium industries for payment of salaries to workers and employees in line with 'Business Continuity Loan Procedure, 2077'. Under this provision, Rs 956.7 million loan has been approved as of mid-July 2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Branch Extension</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Of the total 753 local levels, commercial banks extended their branches at 750 levels as of mid-July 2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Gross Domestic Product Growth</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The Central Bureau of Statistics has estimated the Gross Domestic Product growth of 4.01 percent for 2020/21. Agriculture, industry and service sectors are estimated to grow 2.64 percent, 5.05 percent and 4.43 percent respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The share of agriculture, industry and service sectors in GDP stands 25.83 percent, 13.11 percent and 61.06 percent respectively in 2020/21. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Gross domestic saving to GDP stands 6.6 percent in 2020/21. Ratio of gross fixed capital formation and gross national saving to GDP stands 27.26 percent and 32.30 percent respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Hydro Electricity Capacity and Reconstruction</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The installed capacity of hydro electricity increased to 1458 Megawatt in 2020/21. According to National Reconstruction Authority, reconstruction of 74.2 percent and 93.5 percent of private houses and government buildings, respectively, have been completed by the end of 2020/21. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Tourist Arrival </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The total number of tourist arrivals decreased 90.9 percent to 70,123 in 2020/21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13620', 'image' => '20210827112249_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-27 11:19:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13872', 'article_category_id' => '1', 'title' => 'Nepal Imports Mobile Phones worth Rs 37 Billion ', 'sub_title' => '', 'summary' => 'August 26: Around 7 million sets of mobile phones worth Rs 36.90 billion were imported in Nepal in the last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Around 7 million sets of mobile phones worth Rs 36.90 billion were imported in Nepal in the last fiscal year. Consumption of mobile phones has increased in Nepal due to the new environment created by the lockdown.</span></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 growing trend of online classrooms and zoom conferences, increase in inflow of remittances, access to electricity at rural areas, increasing use of mobile phones in teaching methods, increasing practice of online version in government services and information technology-friendly society have contributed in increasing the demand for mobile phones in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">About 62 percent of Nepal's mobile phones are imported from China, while other major source countries are India and Vietnam.</span></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 customs department, revenue of Rs 5.84 billion has been received from mobile phone import 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"">Import of mobile phones in Nepal:</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td 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"">Fiscal Year</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (1 million sets)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (in billion rupees)</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"">2008/9</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"">-</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"">2.27</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"">2009/10</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"">1.72</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"">6.01</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"">2010/11</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"">1.74</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"">4.47</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"">2011/12</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"">1.93</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"">5.01</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"">2012/13</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"">2.16</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"">5.98</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"">2013/14</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"">3.12</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"">9.91</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"">2014/15</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"">3.81</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"">13.05</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"">2015/16</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"">4.99</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"">18.20</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"">2016/17</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"">5.95</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"">22.66</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"">2017/18</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"">6.22</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"">24.88</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"">2018/19</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"">4.28</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"">19.28</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"">2019/20</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"">4.37</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"">18.18</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"">2020/21</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"">7.03</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"">36.90</span></span></span></p> </td> </tr> <tr> <td colspan="3" 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"><em><span style="font-family:"Times New Roman","serif"">Source: Trade and Export Promotion Centre</span></em></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"">Import of mobile phones in fiscal year 2020/21</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td 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"">Countries</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (in Billions)</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"">Total</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"">36.90</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"">China</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"">22.83</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"">India</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"">12.50</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"">Vietnam</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"">1.26</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"">Others</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"">0.31</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"><em><span style="font-family:"Times New Roman","serif"">Source: Customs Department</span></em></span></span></p> </td> </tr> </tbody> </table> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13619', 'image' => '20210826021915_20201019114758_1603066095.34 2.jpg', 'article_date' => '2021-08-26 14:17:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13875', 'article_category_id' => '1', 'title' => 'Microfinance Companies told to Prepare Financial Statements in line with NFRS', 'sub_title' => '', 'summary' => 'August 26: Nepal Rastra Bank (NRB) has amended the Unified Directive making it mandatory for microfinance companies to prepare their financial statements according to Nepal Financial Reporting Standards (NFRS).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 26: Nepal Rastra Bank (NRB) has amended the Unified Directive making it mandatory for microfinance companies to prepare their financial statements according to Nepal Financial Reporting Standards (NFRS).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, microfinance companies used to prepare financial statements according to Nepal Accounting Standards (NAS). From now on, NRB has directed them to prepare the financial statements as per NFRS. The central bank has said the financial statements of 2020/21 should also be prepared according to the NFRS system.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">NRB has implemented some of the provisions announced in the monetary policy regarding microfinance companies by amending the Unified Directive. Dev Kumar Dhakal, spokesperson of the central bank, informed that provisions introduced for microfinance companies in the monetary policy have been implemented by making some new arrangements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the central bank, microfinance companies opting for merger will be allowed to set up corporate and branch offices in Kathmandu Valley. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Corporate and branch offices will be allowed to be established only in Kathmandu Metropolitan City and Lalitpur Metropolitan City</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The central bank has also amended the provision of service charge applied while providing loan services. Microfinance companies were allowed to charge 1.50 percent service charge while approving loan. With the new provision, such companies will be charging service fees annually at the same proportion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In case of loans of less than one year period, the NRB has directed microfinance companies to charge service fees proportionally at the rate of 1.50 percent on the basis of loan period. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13618', 'image' => '20210826025627_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-26 14:55:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13869', 'article_category_id' => '1', 'title' => 'Promotion of Accessible Tourism Helps Boost Economy: Report ', 'sub_title' => '', 'summary' => 'August 26: A recent study has suggested that promotion of accessible tourism could help Nepal drive the sector's recovery and boost economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 26: A recent study has suggested that promotion of accessible tourism could help Nepal drive the sector's recovery and boost economy. The study backed by the International Finance Corporation (IFC) states that investing in disability-friendly infrastructure and services can help hoteliers and entrepreneurs tap the accessible tourism market in Nepal, a growing segment globally, while driving economic growth and accelerating recovery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study was conducted by the Society of Economic Journalists of Nepal (SEJON) in collaboration with the National Federation of the Disabled, Nepal (NFDN) and was financially and technically assisted by the IFC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the Survey on Accessibility for Persons with Disabilities in Nepal’s Hotels covered 90 star-rated hotels in major cities across the country. Although 95 percent of the participating hoteliers were aware of the concept of accessible tourism, they had not invested in necessary measures to ensure accessibility for persons with disabilities, mentions the report. </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"">According to the survey, only about nine percent of the hotels had staff who were trained in or had basic knowledge of sign language while only 33 percent of the participating hotels had extra wheelchairs for guests</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The report further states that only 17 percent of the surveyed hotels had put up signs to help visually-impaired guests and 74 percent of the hotels did not have any Braille signage on door plaques and room directories. </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"">"Globally, the concept of accessible or inclusive tourism has gained ground in recent times. Accessibility at tourism destinations is key to responsible and sustainable tourism to ensure everyone can be part of the tourism experience, regardless of physical limitations, disabilities, or age," RSS quoted Wendy Werner, IFC Country Manager for Nepal, Bangladesh, and Bhutan as saying. "Accessible tourism is not only a human right, it also makes business sense." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Health Organization, globally, around one billion people are affected by some form of disability. Disability rights experts in Nepal argue that with more persons with physical limitations and disabilities travelling around the world, a focus on accessible infrastructure in hotels as well as tourism destinations can boost the number of foreign tourists in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Currently, around 2,000 tourists with disabilities visit Nepal every year," said President of the National Federation of the Disabled–Nepal, Mitra Lal Sharma. "With improved facilities and conditions that are more disability-friendly, the number could easily go up to over 10,000 tourists a year." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Hotel Association of Nepal, Shreejana Rana, observed, "Although accessible tourism is relatively new in Nepal, we are confident that with adequate support, we can push ourselves to explore and attract this growing segment of tourists to our country." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study recommends the government, the private sector, and donor agencies to work together to create a conducive environment by incorporating universal accessibility practices into relevant legal and policy provisions, with the involvement of persons with disabilities. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13617', 'image' => '20210826074211_turismo-accessibile_turismo-per-tutti.jpg', 'article_date' => '2021-08-26 07:41:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13873', 'article_category_id' => '1', 'title' => 'Sundar Yatayat Calls for Tender Bids to Build Vehicle Assembling Plant', 'sub_title' => '', 'summary' => 'August 26: Sundar Auto Engineering has started the process of setting up an industry to assemble electric vehicles in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Sundar Auto Engineering has started the process of setting up an industry to assemble electric vehicles in Nepal. The company plans to set up a plant by leasing land from Sainamaina Municipality in Butwal. The company has called for tender bids for the construction of all the infrastructures including the building required for the plant. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sundar Auto has leased 2.81 acres of land from the municipality for setting up the plant. The municipality had decided to lease government land for the establishment of the plant to Sundar Auto on July 30 after the company filed an application seeking land. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company has set a deadline of September 10 to submit tender. Chairman of the company Bhesh Bahadur Thapa said that any company involved in the construction sector can submit a tender within that period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company, which initiated the operation of electric buses for the first time in Nepal, aims to set up an assembly plant within the next one year and make public the vehicles assembled in Nepal within the next 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"">The company had agreed to receive investment from China's Sichuan Guhang Automobile in December 2020 and SEC Group from the UAE. However, the company said that work could not move forward due to the Covid-19 pandemic. Stating that an agreement has been reached between the two companies for investment, Thapa informed that an assembling plant is being set up with an initial investment of Rs 3.60 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company's investment from Nepal will be very low. Even though it will remain as a sister organization, Sichuan will have 47 percent stake and SEC will have 46 percent investment in the industry. Thapa informed that Sundar Auto will invest only 7 percent for the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company is preparing to assemble 100 vehicles in the first year, 300 in the second year and 1,000 vehicles annually from third year onwards, said Thapa. The municipality has entered into the agreement with the company to lease the land at an annual rent of Rs 600,000. In addition, the municipality has entered into an agreement with the company to provide ambulances in the first year, garbage trucks in the second year and buses to a local community school at 33 percent discount every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13616', 'image' => '20210826022928_20210706023411yatayat.jpg', 'article_date' => '2021-08-26 14:28:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13870', 'article_category_id' => '1', 'title' => 'Nepal-Thailand Discuss Trade and Investment Relations', 'sub_title' => '', 'summary' => 'August 26: The fifth meeting of Nepal-Thailand Joint Commission held virtually on Wednesday (August 25) took stock of overall state of bilateral relations between Nepal and Thailand.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 26: The fifth meeting of Nepal-Thailand Joint Commission held virtually on Wednesday (August 25) took stock of overall state of bilateral relations between Nepal and Thailand and exchanged views on further promoting cooperation between the two countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The two sides discussed the challenges posed by the COVID-19 on the lives and livelihoods of peoples of both the countries and agreed to work together in combating the pandemic. Foreign Secretary of Nepal Bharat Raj Paudyal and Permanent Secretary for Foreign Affairs of Thailand Thani Thongphakdi led their respective delegations to the meeting, according to the Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, a wide range of issues pertaining to Nepal-Thailand relations including technical cooperation, trade and investment, tourism and culture, people-to-people contacts, and education were discussed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While underscoring the need of enhancing economic engagements between the two countries, Foreign Secretary Paudyal also apprised the Thai delegation of the policy, legal, institutional and procedural reforms undertaken by the Government of Nepal with a view to creating an enabling environment for foreign investment in the country. During the meeting, he also thanked Thailand for providing Nepal with medical equipment and supplies to combat the ongoing COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two sides also exchanged views on enhancing cooperation at the regional level including through BIMSTEC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation comprised of the Ambassador of Nepal to Thailand, senior officials of the Ministry of Foreign Affairs, Ministry of Finance, Ministry of Health, Ministry of Culture, Tourism and Civil Aviation, Ministry of Industry, Commerce and Supplies, Ministry of Agriculture and Livestock Development, and Ministry of Education, Science and Technology. The Thai delegation comprised of the Royal Thai Ambassador to Nepal, senior officials of the Ministry of Foreign Affairs and the officials of Thailand International Cooperation Agency (TICA). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Sixth Meeting of the Joint Commission will take place on a mutually convenient date, added the Ministry. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13615', 'image' => '20210826074923_Flag-Pins-Thailand-Nepal_600x600.jpg', 'article_date' => '2021-08-26 07:48:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13871', 'article_category_id' => '1', 'title' => 'One More Week for Garbage Collection in Kathmandu Valley', 'sub_title' => '', 'summary' => 'August 26: The Kathmandu Valley denizens will have to endure garbage piled at different places of the valley for one more week as it would take some time to prepare a new landfill site in Bancharedanda. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 26: <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley denizens will have to endure garbage piled at different places of the valley for one more week as it would take some time to prepare a new landfill site in Bancharedanda. </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"">Government authorities say that they are creating a new cell at Bancharedanda to dump the waste.</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"">Information Officer at Ministry of Urban Development, Suresh Kumar Wagle, said that construction of the first cell of landfill site is in the final stage. However, problems still exists because the old landfill site at Sisdol must be crossed to reach the new site. Huge mass of garbage at Sisdol must be passed to reach the new site. Currently, garbage containers cannot pass via the mound, Wagle added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagle informed that they need to set up a makeshift bridge by coordinating with the Department of Roads and Kathmandu Metropolis to resolve the problem.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He also urged the residents of Kathmandu not to keep garbage outside their houses for the next 11 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment department chief at KMC, Hari Kumar Shrestha, shared that it is a recurring problem since some years because of failure to manage a long-term solution for a landfill site. He blames the Ministry of Urban Development behind such delay. According to him, there is no place left to manage waste at Sisdol so it should be managed at Banchare-danda. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Management of waste is so poor that Sisdol of Nuwakot was selected as a landfill site in 2005 AD just for two years. But, it has outlived its capacity for these many years while the government has been ignoring its responsibility to seek a long-term solution. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, 1200 metric tons of garbage is managed at Sisdole from Kathmandu Valley. The Kathmandu Valley alone generates 500 metric tons of garbage a day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bancharedanda, where a landfill for long term solution is being constructed, is two-km away from the current landfill site, Sisdol. Bancharedanda lies at the border of Nuwakot and Dhading. -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13614', 'image' => '20210826080929_1-s2.0-S0197397515001277-gr1 - Copy.jpg', 'article_date' => '2021-08-26 08:06:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13868', 'article_category_id' => '1', 'title' => 'Social Security Fund Operating with Government Loans', 'sub_title' => '', 'summary' => 'August 25: The much-disputed social security fund has been operating on loans.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 25: The much-disputed social security fund has been operating on loans. The Social Security Fund that was widely publicized as the ‘beginning of a new era’ by the government led by the former Prime Minister KP Sharma Oli, have to take loans due to the lack of its own source of income.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As per the article 26 of Social Security Act 2074, the fund has been established and staff have been managed. However, the fund lacks source to cover the salaries and facilities of the employees and expenses related to the operation of the office.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Officials claim that the SSF has to meet the expenses by taking loan from the government of Nepal every year due to the lack of its own source of income.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The fund has taken a loan of Rs 50 million in 2076/77 at an interest rate of three percent that needs to be paid within five years. It has been found that Rs 23 million has been spent on administrative operation and management. Likewise, the fund seems to be operating on debt even in 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"">This year, the fund has taken a loan of Rs 150 million from the government of Nepal. The amount has been spent on office operation, rent, employees’ salary, and facilities. Similarly, in the current fiscal year 2078/79, the fund is preparing to take a loan of Rs 220 million in installments.</span></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 is not clear in the act on how to mobilise financial resources to run the fund, so we have to take loans,” said Bibek Panthi, a spokesperson for the SSF.</span></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 him, the government should give two to three percent of the profits to the fund to cover the expenses of the fund. For this, the Act should be amended. Although the fund has continuously raised its voice in this regard, its pleas have fallen into deaf ears.</span></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 recent 58</span><sup><span style="font-family:"Times New Roman","serif"">th</span></sup><span style="font-family:"Times New Roman","serif""> report of the Office of Auditor General seems to have raised questions about the inability to manage resources for the expenditure of the SSF. The report calls for ensuring resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As per Article 20 of the contribution-based Social Security Act 2074, the employers must list the employees within six months of the commencement of the Act. Accordingly, 15,075 employers have registered 275,000 contributors till July 31, according to the fund.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Panthi said that the listing is increasing. Many workers in the formal and informal sector are unable to join the social security scheme. The government’s efforts have not been fruitful. Even though the Social Security Fund has been urging the private sector to get listed, the employees of banks and financial institutions, in particular, have not agreed to register as they believe that the facilities they have been given will be taken away. They have even filed a writ petition in the Supreme Court disagreeing with the policy taken by the fund. This issue is sub judice in the court. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-25', 'modified' => '2021-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '13613', 'image' => '20210825012820_SSF (1).jpg', 'article_date' => '2021-08-25 13:27:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '13882', 'article_category_id' => '1', 'title' => 'AITM College Launches Courses of Birmingham University in Nepal', 'sub_title' => '', 'summary' => 'August 29: Asian Institute of Technology and Management (AITM) College, Khulamtar has introduced courses of Birmingham University at the college. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 29: Asian Institute of Technology and Management (AITM) College, Khulamtar has introduced courses of Birmingham University at the college. British Ambassador to Nepal Nicola Pollitt introduced the courses in the presence of Mayor of Lalitpur Chiri Babu Maharjan amid a programme at the college on Friday, August 27, the college said in a statement.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The statement says that the college is the first educational institute of Nepal to collaborate with Birmingham University.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Under this agreement, Birmingham University will provide Masters of Business Administration and BSc in Computer and Information Technology courses through the college at affordable cost.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Launching the courses at the college British Ambassador to Nepal Nicola Pollitt extended best wishes and long-lasting collaboration between the two institutes.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">AITM College is a private institute that has been providing international-level undergraduate courses. Established in 2012, this college is operated by acclaimed intellectuals and scholars who have more than three decades of experience in the field of education, according to the statement issued by the college.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college claims that its infrastructure is also of international standard. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The statement further says that AITM College has been providing high-standard education in collaboration with IMI University of Switzerland.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college added that it firmly believes in multinational and multicultural values and principle and aims to collaborate with other international institutions in the future. </span></span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The college intends to produce skilled manpower in the country and also to attract foreign students.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13627', 'image' => '20210829023934_AITM.jpg', 'article_date' => '2021-08-29 14:38:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13880', 'article_category_id' => '1', 'title' => 'Central Bank’s Loan Investment More than Prescribed Limit: OAG Report', 'sub_title' => '', 'summary' => 'August 29: Nepal Rastra Bank, the regulatory body of banks and financial institutions (BFIs) as well as the overall economy of the country, itself is found to have made loan investment and investment in shares of various organisations against the prescribed limit.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">August 29: Nepal Rastra Bank, the regulatory body of banks and financial institutions (BFIs) as well as the overall economy of the country, itself is found to have made loan investment and investment in shares of various organisations against the prescribed limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">This is clearly evident from the recently published report of the Office of the Auditor General.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">As per the Nepal Rastra Bank, the central bank can invest in shares and provide loan up to 10 percent of the paid-up capital of any company. For instance, if the paid-up capital of a company is Rs 1 billion, the central bank can provide a maximum loan of Rs 100 million to the company. However, the Office of the Auditor General claims that NRB has flouted the rule and provided loan to a microfinance company which is more than 10 percent of the paid-up capital of the company. The report prepared by the OAG also points out to faulty investment in shares by the central bank on other companies against its limit.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The microfinance company in question had a paid-up capital of Rs 1 billion as of 2077 BS. Therefore, the company was entitled to receive a maximum loan of Rs 100 million. However, the 58<sup>th</sup> annual report of the OAG states that NRB has provided loan of Rs 310.4 million to the company. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The loan was provided to the company on July 16, 2019 in accordance to a decision taken by the Ministry of Finance on December 10, 2018.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">The loan was provided to the company in line with a tripartite agreement between the company, finance ministry and the central bank for increasing access to finance in rural areas. However, the microfinance company has mentioned in its financial report that the loan was taken from the Government of Nepal instead of central bank, states the OAG report. NRB has expressed concern regarding this issue. The central bank has maintained that it has not provided loan against the limit set by the Act.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">NRB Spokesperson Dev Kumar Dhakal dismissed the AOG report stating that it did not reflect facts. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“We have been providing loan within our limit. That particular loan might have been provided under some special arrangements,” said Dhakal, adding that the Office of the Auditor General might have lacked proper understanding regarding the working modality of the central bank.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Similarly, the central bank is also accused of investing more than the prescribed limit in shares of various companies. NRB can invest in shares up to 10 percent of the total shares of any company. However, NRB is found to has stakes on 62.14 percent shares of Agriculture Technology Service Centre, 55.56 percent stakes on National Insurance Corporation, 14.6 percent in Nepal Stock Exchange (NEPSE), 13.34 percent in Citizen Investment Trust, 10.3 percent in Loan Information Centre and 15.29 percent in a bank, according to the OAG report.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Spokesperson Dhakal said that the preparations are underway to bring the share investment in those companies under the investment ceiling.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13626', 'image' => '20210829111744_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-29 11:16:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13881', 'article_category_id' => '1', 'title' => 'Nepal Investors Forum gets a New Executive Committee', 'sub_title' => '', 'summary' => 'August 29: Nepal Investors Forum has formed a new executive committee headed by Tulsiram Dhakal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 29: Nepal Investors Forum has formed a new executive committee headed by Tulsiram Dhakal. The 16<sup>th</sup> annual general meeting of the forum on Saturday formed the seven-member committee headed by Dhakal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Raj Lamsal has been appointed as the first vice president of the forum. Similarly, Anjeev Tuladhar has been appointed vice president while Durga Tiwari is the new general secretary of the forum. Bishweshwar Subedi is the secretary and Hari Chandra Khanal is the treasurer of the new committee. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Meanwhile, other members of the committee include Ambika Sharma Lamichhane, Atit Lal Shrestha and Srijana Subedi.</span></span></p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13625', 'image' => '20210829020856_images.jpg', 'article_date' => '2021-08-29 14:08:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13879', 'article_category_id' => '1', 'title' => 'Nepal-Malaysia to Work Together for Tourism Promotion ', 'sub_title' => '', 'summary' => 'August 29: Nepal and Malaysia have expressed their readiness to work together for the promotion of tourism in both countries. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 29: Nepal and Malaysia have expressed their readiness to work together for the promotion of tourism in both countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Tourism Board and Malaysian Embassy in Kathmandu held a meeting in this regard. Chief Executive Officer of NTB Dhananjay Regmi and first secretary of the Malaysian Embassy held talks at the Embassy on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They reached a conclusion to work together adopting stipulated health safety protocol to promote tourism in both the countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Both the representatives agreed to continue exchange visits of diplomats, celebrities and media persons from both the countries as a measure of promoting tourism opportunities. Tourism sector of both the countries are facing hardship due to COVID-19 pandemic and its multifarious effects. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-29', 'modified' => '2021-08-29', 'keywords' => '', 'description' => '', 'sortorder' => '13624', 'image' => '20210829103803_Flag-Pins-Nepal-Malaysia.jpg', 'article_date' => '2021-08-29 10:37:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13876', 'article_category_id' => '1', 'title' => 'Finance Ministry Intensifies Preparing to Introduce Replacement Bill ', 'sub_title' => '', 'summary' => 'August 27: Finance Minister Janardan Sharma has intensified preparations to replace the budget of the current fiscal year brought by the previous government through ordinance.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 27: Finance Minister Janardan Sharma has intensified preparations to replace the budget of the current fiscal year brought by the previous government through ordinance. </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"">In this regard, Finance Minister Sharma held a meeting with the secretaries of various ministries on Thursday (August 26) and collected suggestions regarding the replacement bill. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, the finance minister shed light on government’s priorities for the replacement bill and directed the secretaries to re-send the government’s programs by amending them in line with production-oriented economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government would emphasize on implementation of federalism, maintaining fiscal discipline and increasing capital expenditure while amending the ordinance 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"">Likewise, Minister Sharma has directed various ministries to send revision proposals giving priority to reducing poverty and increasing employment, making quality health services available, and giving priority to education, agriculture and tourism sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma also said that the government would give due attention to redefine and reschedule national pride projects, utilize stagnant state assets and integrate mobilization of various funds. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He added that the government will proper arrangements for coordination of its plans and budget while it will reconsider the projects whose resources have not been ascertained and lack prior preparations for the detailed project report (DPR).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He directed the secretaries to send the revised budget and programs of the respective ministry to the Ministry of Finance by Friday (August 27), taking into consideration the priority areas determined by the government. </span></span></span><br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13623', 'image' => '20210827102501_20200327032654_5003_finance-ministy.jpg', 'article_date' => '2021-08-27 10:24:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13877', 'article_category_id' => '1', 'title' => 'Water Supply from Melamchi Likely to be Restored by Next April ', 'sub_title' => '', 'summary' => 'August 27: Melamchi Water Supply Development Board is preparing to restore water supply to Kathmandu within mid-April next year after rebuilding damaged structures and access road. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 27: Melamchi Water Supply Development Board is preparing to restore water supply to Kathmandu within mid-April next year after rebuilding damaged structures and access road. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project had suffered significant damages from the devastating flood in the Melamchi River June 15. The board has set a plan to reopen the access road in coordination with the Department of Roads, the Nepalese Army and the local government in order to repair the damaged structures. </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"">However, the exact details of loss caused to the project by subsequent floods during this monsoon is yet to be ascertained. The project site is covered with debris and sediments and the details of loss can be estimated only when they are removed, says Rajendra Prasad Panta, information officer of the board.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The project headwork remains buried under 10-15 meters of the sediments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Although the board has calculated the tentative time period for restoring water supply, it may be slightly changed because the exact loss is yet to be ascertained.</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"">Information Officer Pant said that they have been discussing about alternative water diversion as it is not possible to divert water from the headwork immediately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Access route to Ambathan of Healmbu and headwork are likely to be affected the most by the floods. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The board is discussing whether to rebuild the existing access road or find an alternative one. The final decision will be taken after consultation with the experts, said Panta. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13622', 'image' => '20210827104851_20210222115707_20200317114243_Melamchi 1.jpg', 'article_date' => '2021-08-27 10:47:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13874', 'article_category_id' => '1', 'title' => 'Sugarcane Farmers Preparing to Protest against Delay on Due Settlement', 'sub_title' => '', 'summary' => 'August 26: Sugarcane farmers of Sarlahi, who have not yet received full payment for the sale of sugarcane to sugar mills, have again started their protest in the capital demanding their due payment.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Sugarcane farmers of Sarlahi, who have not yet received full payment for the sale of sugarcane to sugar mills, have again started their protest in the capital demanding their due payment.</span></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 government data, out of a total of Rs 650 million due to sugarcane farmers, Rs 150 million is yet to be paid. However, sugarcane farmers claim that they are yet to receive dues worth Rs 250 million out of the total amount of Rs 900 million.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Demanding payment of the due amount, the sugarcane farmers had held a press conference in Kathmandu in mid-July last year giving the deadline of August 21 to the sugar mills and government to clear the dues.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sugarcane farmers have started preparations for the protest after their demands were not met by the government and the sugar mills. According to Rakesh Mishra, a member of the Sugarcane Farmer Struggle Committee Sarlahi, sugarcane farmers owe Rs 80 million to Annapurna Sugar Industry of Sarlahi, Rs 5 million to Mahalakshmi Sugar Mill in Sarlahi, Rs 30 million to Shri Ram Sugar Mill in Rautahat, Rs 20 million to Indira Sugar Mill Nawalparasi and Rs 20 million to Lumbini Sugar Factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“Despite repeated requests from the government to pay this amount as soon as possible, the sugar mills have not responded. So there is no alternative than to protest. We are fully prepared for the movement which can start anytime,” he told New Business Age. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Furthermore, he said that ith the government has assured them several times that it will facilitate in clearing the dues, but many farmers have not received any amount yet and they are not ready to make any agreement 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"">Secretary of the committee Harishyam Raya said that the task force formed to resolve the issue of Rs 900 million claimed by the farmers and Rs 650 million claimed by the government has also been unfair to them.</span></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 him, the task force did not disclose the amount even though it was mentioned that the farmers were yet to receive the due from the industrialists. All Nepal Peasants’ Union, All Nepal Progressive Peasants’ Association, All Nepal Peasants’ Federation and other organizations have also supported the sugarcane farmers. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13621', 'image' => '20210826024723_20210730041505_20210125102806_20201229113333_1609164432.jpg', 'article_date' => '2021-08-26 14:46:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13878', 'article_category_id' => '1', 'title' => 'NRB Report Shows Average Inflation of 3.6 Percent ', 'sub_title' => 'Trade Deficit and Remittance Inflow Up while Current Account in Deficit, BoP in Surplus', 'summary' => 'August 27: The average consumer price inflation stood at 3.60 percent in Fiscal Year 2020/21 compared to 6.15 percent a year ago, according to Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 27: The average consumer price inflation stood at 3.60 percent in Fiscal Year 2020/21 compared to 6.15 percent a year ago, according to 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:"Arial","sans-serif"">Unveiling the annual report on Current Macroeconomic and Financial Situation of last fiscal year on Thursday (August 26), the central bank said that the average consumer price of ghee and oil; pulses and legumes; tobacco products; and transportation sub-groups rose 17.54 percent, 10.65 percent, 9.83 percent and 6.41 percent respectively on annual basis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Export</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">During 2020/ 21, merchandise exports increased 44.4 percent to Rs 141.12 billion compared to an increase of 0.6 percent in the previous year, 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:"Arial","sans-serif"">Destination-wise, exports to India and other countries increased 51.7 percent and 27.7 percent respectively whereas exports to China decreased 14.7 percent. Exports of soybean oil, cardamom, polyester yarn and threads, jute products, woolen carpet, among others, increased whereas exports of palm oil, pulses, zinc sheet, wire, cattle feed, among others, decreased in the review period. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Import </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Likewise, in FY 2020/21, merchandise imports increased 28.7 percent to Rs 1539.84 billion against a decrease of 15.6 percent a year ago.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Destination-wise, imports from India, China and other countries increased 32.1 percent, 28.6 percent and 19.6 percent respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Imports of transport equipment and parts, crude soybean oil, MS billet, rice, gold, among others, increased whereas imports of aircraft spare parts, crude palm oil, video television and parts, cold-rolled sheet in coil, betel-nut, among others, decreased in the review period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Trade Deficit</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the report, the total trade deficit increased 27.3 percent to Rs 1398.71 billion during 2020/21. Such a deficit had decreased 16.8 percent in the previous year. The export-import ratio increased to 9.2 percent in the review period from 8.2 percent in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Remittance </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Meanwhile, inflow of remittance increased 9.8 percent to Rs 961.05 billion in the review year against a decrease of 0.5 percent in the previous year. In terms of US Dollar, remittance inflow increased 8.2 percent to 8.15 billion in the review year against a decrease of 3.3 percent in the previous year. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Foreign Employment </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The number of Nepali workers taking approval for foreign employment decreased 62.8 percent in the review year. It had decreased 20.5 percent in the previous year. The number of Nepali workers (renew entry) taking approval for foreign employment decreased 46.8 percent in the review year. It had decreased 34.7 percent in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Current Account</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Meanwhile, the current account remained at a deficit of Rs 333.67 billion in the review year compared to a deficit of Rs 33.76 billion in the previous year. In the US Dollar terms, the current account registered a deficit of 2.84 billion in the review year compared to a deficit of 339.8 million in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Capital Transfer</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">In the review year, capital transfer increased 7.4 percent to Rs 15.26 billion and net foreign direct investment (FDI) increased 0.2 percent to Rs 19.51 billion. In the previous year, capital transfer and net FDI amounted to Rs 14.21 billion and Rs 19.48 billion respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Balance of Payments </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">On the other hand, Balance of Payments (BOP) registered a surplus of Rs 1.23 billion in the review year compared to a surplus of Rs 282.41 billion in the previous year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Refinancing</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The report further states that NRB approved Rs 148.75 billion refinance in 2020/21. The outstanding amount of refinance provided by NRB remained Rs 122.70 billion in mid-July 2021. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Concessional Loan</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">As of mid-July 2021, the outstanding concessional loan is Rs 161.44 billion extended to 104,109 borrowers. Of which, Rs 106.98 billion has been extended to 46,057 borrowers for commercial agriculture and livestock businesses.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Likewise, Rs 50.98 billion loan has been extended to 55,551 women entrepreneurs. Remaining Rs 3.48 billion loan has been extended to 2,501 borrowers of other categories of concessional loans. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Business Continuity Loan</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Business continuity loan has been extended to the Covid-19 affected tourism, cottage, small and medium industries for payment of salaries to workers and employees in line with 'Business Continuity Loan Procedure, 2077'. Under this provision, Rs 956.7 million loan has been approved as of mid-July 2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Branch Extension</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Of the total 753 local levels, commercial banks extended their branches at 750 levels as of mid-July 2021.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Gross Domestic Product Growth</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The Central Bureau of Statistics has estimated the Gross Domestic Product growth of 4.01 percent for 2020/21. Agriculture, industry and service sectors are estimated to grow 2.64 percent, 5.05 percent and 4.43 percent respectively.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The share of agriculture, industry and service sectors in GDP stands 25.83 percent, 13.11 percent and 61.06 percent respectively in 2020/21. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Gross domestic saving to GDP stands 6.6 percent in 2020/21. Ratio of gross fixed capital formation and gross national saving to GDP stands 27.26 percent and 32.30 percent respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Hydro Electricity Capacity and Reconstruction</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The installed capacity of hydro electricity increased to 1458 Megawatt in 2020/21. According to National Reconstruction Authority, reconstruction of 74.2 percent and 93.5 percent of private houses and government buildings, respectively, have been completed by the end of 2020/21. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><strong><span style="font-family:"Arial","sans-serif"">Tourist Arrival </span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">The total number of tourist arrivals decreased 90.9 percent to 70,123 in 2020/21.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-27', 'modified' => '2021-08-27', 'keywords' => '', 'description' => '', 'sortorder' => '13620', 'image' => '20210827112249_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-27 11:19:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13872', 'article_category_id' => '1', 'title' => 'Nepal Imports Mobile Phones worth Rs 37 Billion ', 'sub_title' => '', 'summary' => 'August 26: Around 7 million sets of mobile phones worth Rs 36.90 billion were imported in Nepal in the last fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Around 7 million sets of mobile phones worth Rs 36.90 billion were imported in Nepal in the last fiscal year. Consumption of mobile phones has increased in Nepal due to the new environment created by the lockdown.</span></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 growing trend of online classrooms and zoom conferences, increase in inflow of remittances, access to electricity at rural areas, increasing use of mobile phones in teaching methods, increasing practice of online version in government services and information technology-friendly society have contributed in increasing the demand for mobile phones in Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">About 62 percent of Nepal's mobile phones are imported from China, while other major source countries are India and Vietnam.</span></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 customs department, revenue of Rs 5.84 billion has been received from mobile phone import 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"">Import of mobile phones in Nepal:</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td 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"">Fiscal Year</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (1 million sets)</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (in billion rupees)</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"">2008/9</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"">-</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"">2.27</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"">2009/10</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"">1.72</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"">6.01</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"">2010/11</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"">1.74</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"">4.47</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"">2011/12</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"">1.93</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"">5.01</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"">2012/13</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"">2.16</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"">5.98</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"">2013/14</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"">3.12</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"">9.91</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"">2014/15</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"">3.81</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"">13.05</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"">2015/16</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"">4.99</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"">18.20</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"">2016/17</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"">5.95</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"">22.66</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"">2017/18</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"">6.22</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"">24.88</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"">2018/19</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"">4.28</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"">19.28</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"">2019/20</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"">4.37</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"">18.18</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"">2020/21</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"">7.03</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"">36.90</span></span></span></p> </td> </tr> <tr> <td colspan="3" 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"><em><span style="font-family:"Times New Roman","serif"">Source: Trade and Export Promotion Centre</span></em></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"">Import of mobile phones in fiscal year 2020/21</span></span></span></p> <table cellspacing="0" style="border-collapse:collapse"> <tbody> <tr> <td 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"">Countries</span></strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; 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"">Amount (in Billions)</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"">Total</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"">36.90</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"">China</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"">22.83</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"">India</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"">12.50</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"">Vietnam</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"">1.26</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"">Others</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"">0.31</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"><em><span style="font-family:"Times New Roman","serif"">Source: Customs Department</span></em></span></span></p> </td> </tr> </tbody> </table> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13619', 'image' => '20210826021915_20201019114758_1603066095.34 2.jpg', 'article_date' => '2021-08-26 14:17:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13875', 'article_category_id' => '1', 'title' => 'Microfinance Companies told to Prepare Financial Statements in line with NFRS', 'sub_title' => '', 'summary' => 'August 26: Nepal Rastra Bank (NRB) has amended the Unified Directive making it mandatory for microfinance companies to prepare their financial statements according to Nepal Financial Reporting Standards (NFRS).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 26: Nepal Rastra Bank (NRB) has amended the Unified Directive making it mandatory for microfinance companies to prepare their financial statements according to Nepal Financial Reporting Standards (NFRS).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, microfinance companies used to prepare financial statements according to Nepal Accounting Standards (NAS). From now on, NRB has directed them to prepare the financial statements as per NFRS. The central bank has said the financial statements of 2020/21 should also be prepared according to the NFRS system.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">NRB has implemented some of the provisions announced in the monetary policy regarding microfinance companies by amending the Unified Directive. Dev Kumar Dhakal, spokesperson of the central bank, informed that provisions introduced for microfinance companies in the monetary policy have been implemented by making some new arrangements.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the central bank, microfinance companies opting for merger will be allowed to set up corporate and branch offices in Kathmandu Valley. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Corporate and branch offices will be allowed to be established only in Kathmandu Metropolitan City and Lalitpur Metropolitan City</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The central bank has also amended the provision of service charge applied while providing loan services. Microfinance companies were allowed to charge 1.50 percent service charge while approving loan. With the new provision, such companies will be charging service fees annually at the same proportion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">In case of loans of less than one year period, the NRB has directed microfinance companies to charge service fees proportionally at the rate of 1.50 percent on the basis of loan period. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13618', 'image' => '20210826025627_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-26 14:55:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13869', 'article_category_id' => '1', 'title' => 'Promotion of Accessible Tourism Helps Boost Economy: Report ', 'sub_title' => '', 'summary' => 'August 26: A recent study has suggested that promotion of accessible tourism could help Nepal drive the sector's recovery and boost economy.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 26: A recent study has suggested that promotion of accessible tourism could help Nepal drive the sector's recovery and boost economy. The study backed by the International Finance Corporation (IFC) states that investing in disability-friendly infrastructure and services can help hoteliers and entrepreneurs tap the accessible tourism market in Nepal, a growing segment globally, while driving economic growth and accelerating recovery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study was conducted by the Society of Economic Journalists of Nepal (SEJON) in collaboration with the National Federation of the Disabled, Nepal (NFDN) and was financially and technically assisted by the IFC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the Survey on Accessibility for Persons with Disabilities in Nepal’s Hotels covered 90 star-rated hotels in major cities across the country. Although 95 percent of the participating hoteliers were aware of the concept of accessible tourism, they had not invested in necessary measures to ensure accessibility for persons with disabilities, mentions the report. </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"">According to the survey, only about nine percent of the hotels had staff who were trained in or had basic knowledge of sign language while only 33 percent of the participating hotels had extra wheelchairs for guests</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The report further states that only 17 percent of the surveyed hotels had put up signs to help visually-impaired guests and 74 percent of the hotels did not have any Braille signage on door plaques and room directories. </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"">"Globally, the concept of accessible or inclusive tourism has gained ground in recent times. Accessibility at tourism destinations is key to responsible and sustainable tourism to ensure everyone can be part of the tourism experience, regardless of physical limitations, disabilities, or age," RSS quoted Wendy Werner, IFC Country Manager for Nepal, Bangladesh, and Bhutan as saying. "Accessible tourism is not only a human right, it also makes business sense." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Health Organization, globally, around one billion people are affected by some form of disability. Disability rights experts in Nepal argue that with more persons with physical limitations and disabilities travelling around the world, a focus on accessible infrastructure in hotels as well as tourism destinations can boost the number of foreign tourists in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Currently, around 2,000 tourists with disabilities visit Nepal every year," said President of the National Federation of the Disabled–Nepal, Mitra Lal Sharma. "With improved facilities and conditions that are more disability-friendly, the number could easily go up to over 10,000 tourists a year." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of Hotel Association of Nepal, Shreejana Rana, observed, "Although accessible tourism is relatively new in Nepal, we are confident that with adequate support, we can push ourselves to explore and attract this growing segment of tourists to our country." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The study recommends the government, the private sector, and donor agencies to work together to create a conducive environment by incorporating universal accessibility practices into relevant legal and policy provisions, with the involvement of persons with disabilities. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13617', 'image' => '20210826074211_turismo-accessibile_turismo-per-tutti.jpg', 'article_date' => '2021-08-26 07:41:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13873', 'article_category_id' => '1', 'title' => 'Sundar Yatayat Calls for Tender Bids to Build Vehicle Assembling Plant', 'sub_title' => '', 'summary' => 'August 26: Sundar Auto Engineering has started the process of setting up an industry to assemble electric vehicles in Nepal. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 26: Sundar Auto Engineering has started the process of setting up an industry to assemble electric vehicles in Nepal. The company plans to set up a plant by leasing land from Sainamaina Municipality in Butwal. The company has called for tender bids for the construction of all the infrastructures including the building required for the plant. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Sundar Auto has leased 2.81 acres of land from the municipality for setting up the plant. The municipality had decided to lease government land for the establishment of the plant to Sundar Auto on July 30 after the company filed an application seeking land. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company has set a deadline of September 10 to submit tender. Chairman of the company Bhesh Bahadur Thapa said that any company involved in the construction sector can submit a tender within that period.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company, which initiated the operation of electric buses for the first time in Nepal, aims to set up an assembly plant within the next one year and make public the vehicles assembled in Nepal within the next 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"">The company had agreed to receive investment from China's Sichuan Guhang Automobile in December 2020 and SEC Group from the UAE. However, the company said that work could not move forward due to the Covid-19 pandemic. Stating that an agreement has been reached between the two companies for investment, Thapa informed that an assembling plant is being set up with an initial investment of Rs 3.60 billion.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company's investment from Nepal will be very low. Even though it will remain as a sister organization, Sichuan will have 47 percent stake and SEC will have 46 percent investment in the industry. Thapa informed that Sundar Auto will invest only 7 percent for the company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The company is preparing to assemble 100 vehicles in the first year, 300 in the second year and 1,000 vehicles annually from third year onwards, said Thapa. The municipality has entered into the agreement with the company to lease the land at an annual rent of Rs 600,000. In addition, the municipality has entered into an agreement with the company to provide ambulances in the first year, garbage trucks in the second year and buses to a local community school at 33 percent discount every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13616', 'image' => '20210826022928_20210706023411yatayat.jpg', 'article_date' => '2021-08-26 14:28:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13870', 'article_category_id' => '1', 'title' => 'Nepal-Thailand Discuss Trade and Investment Relations', 'sub_title' => '', 'summary' => 'August 26: The fifth meeting of Nepal-Thailand Joint Commission held virtually on Wednesday (August 25) took stock of overall state of bilateral relations between Nepal and Thailand.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 26: The fifth meeting of Nepal-Thailand Joint Commission held virtually on Wednesday (August 25) took stock of overall state of bilateral relations between Nepal and Thailand and exchanged views on further promoting cooperation between the two countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The two sides discussed the challenges posed by the COVID-19 on the lives and livelihoods of peoples of both the countries and agreed to work together in combating the pandemic. Foreign Secretary of Nepal Bharat Raj Paudyal and Permanent Secretary for Foreign Affairs of Thailand Thani Thongphakdi led their respective delegations to the meeting, according to the Ministry of Foreign Affairs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, a wide range of issues pertaining to Nepal-Thailand relations including technical cooperation, trade and investment, tourism and culture, people-to-people contacts, and education were discussed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">While underscoring the need of enhancing economic engagements between the two countries, Foreign Secretary Paudyal also apprised the Thai delegation of the policy, legal, institutional and procedural reforms undertaken by the Government of Nepal with a view to creating an enabling environment for foreign investment in the country. During the meeting, he also thanked Thailand for providing Nepal with medical equipment and supplies to combat the ongoing COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two sides also exchanged views on enhancing cooperation at the regional level including through BIMSTEC. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali delegation comprised of the Ambassador of Nepal to Thailand, senior officials of the Ministry of Foreign Affairs, Ministry of Finance, Ministry of Health, Ministry of Culture, Tourism and Civil Aviation, Ministry of Industry, Commerce and Supplies, Ministry of Agriculture and Livestock Development, and Ministry of Education, Science and Technology. The Thai delegation comprised of the Royal Thai Ambassador to Nepal, senior officials of the Ministry of Foreign Affairs and the officials of Thailand International Cooperation Agency (TICA). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Sixth Meeting of the Joint Commission will take place on a mutually convenient date, added the Ministry. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13615', 'image' => '20210826074923_Flag-Pins-Thailand-Nepal_600x600.jpg', 'article_date' => '2021-08-26 07:48:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13871', 'article_category_id' => '1', 'title' => 'One More Week for Garbage Collection in Kathmandu Valley', 'sub_title' => '', 'summary' => 'August 26: The Kathmandu Valley denizens will have to endure garbage piled at different places of the valley for one more week as it would take some time to prepare a new landfill site in Bancharedanda. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 26: <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley denizens will have to endure garbage piled at different places of the valley for one more week as it would take some time to prepare a new landfill site in Bancharedanda. </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"">Government authorities say that they are creating a new cell at Bancharedanda to dump the waste.</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"">Information Officer at Ministry of Urban Development, Suresh Kumar Wagle, said that construction of the first cell of landfill site is in the final stage. However, problems still exists because the old landfill site at Sisdol must be crossed to reach the new site. Huge mass of garbage at Sisdol must be passed to reach the new site. Currently, garbage containers cannot pass via the mound, Wagle added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Wagle informed that they need to set up a makeshift bridge by coordinating with the Department of Roads and Kathmandu Metropolis to resolve the problem.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He also urged the residents of Kathmandu not to keep garbage outside their houses for the next 11 days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Environment department chief at KMC, Hari Kumar Shrestha, shared that it is a recurring problem since some years because of failure to manage a long-term solution for a landfill site. He blames the Ministry of Urban Development behind such delay. According to him, there is no place left to manage waste at Sisdol so it should be managed at Banchare-danda. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Management of waste is so poor that Sisdol of Nuwakot was selected as a landfill site in 2005 AD just for two years. But, it has outlived its capacity for these many years while the government has been ignoring its responsibility to seek a long-term solution. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Currently, 1200 metric tons of garbage is managed at Sisdole from Kathmandu Valley. The Kathmandu Valley alone generates 500 metric tons of garbage a day. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bancharedanda, where a landfill for long term solution is being constructed, is two-km away from the current landfill site, Sisdol. Bancharedanda lies at the border of Nuwakot and Dhading. -- RSS </span><br /> <br /> </span></span></p> ', 'published' => true, 'created' => '2021-08-26', 'modified' => '2021-08-26', 'keywords' => '', 'description' => '', 'sortorder' => '13614', 'image' => '20210826080929_1-s2.0-S0197397515001277-gr1 - Copy.jpg', 'article_date' => '2021-08-26 08:06:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13868', 'article_category_id' => '1', 'title' => 'Social Security Fund Operating with Government Loans', 'sub_title' => '', 'summary' => 'August 25: The much-disputed social security fund has been operating on loans.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 25: The much-disputed social security fund has been operating on loans. The Social Security Fund that was widely publicized as the ‘beginning of a new era’ by the government led by the former Prime Minister KP Sharma Oli, have to take loans due to the lack of its own source of income.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As per the article 26 of Social Security Act 2074, the fund has been established and staff have been managed. However, the fund lacks source to cover the salaries and facilities of the employees and expenses related to the operation of the office.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Officials claim that the SSF has to meet the expenses by taking loan from the government of Nepal every year due to the lack of its own source of income.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The fund has taken a loan of Rs 50 million in 2076/77 at an interest rate of three percent that needs to be paid within five years. It has been found that Rs 23 million has been spent on administrative operation and management. Likewise, the fund seems to be operating on debt even in 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"">This year, the fund has taken a loan of Rs 150 million from the government of Nepal. The amount has been spent on office operation, rent, employees’ salary, and facilities. Similarly, in the current fiscal year 2078/79, the fund is preparing to take a loan of Rs 220 million in installments.</span></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 is not clear in the act on how to mobilise financial resources to run the fund, so we have to take loans,” said Bibek Panthi, a spokesperson for the SSF.</span></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 him, the government should give two to three percent of the profits to the fund to cover the expenses of the fund. For this, the Act should be amended. Although the fund has continuously raised its voice in this regard, its pleas have fallen into deaf ears.</span></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 recent 58</span><sup><span style="font-family:"Times New Roman","serif"">th</span></sup><span style="font-family:"Times New Roman","serif""> report of the Office of Auditor General seems to have raised questions about the inability to manage resources for the expenditure of the SSF. The report calls for ensuring resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As per Article 20 of the contribution-based Social Security Act 2074, the employers must list the employees within six months of the commencement of the Act. Accordingly, 15,075 employers have registered 275,000 contributors till July 31, according to the fund.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Panthi said that the listing is increasing. Many workers in the formal and informal sector are unable to join the social security scheme. The government’s efforts have not been fruitful. Even though the Social Security Fund has been urging the private sector to get listed, the employees of banks and financial institutions, in particular, have not agreed to register as they believe that the facilities they have been given will be taken away. They have even filed a writ petition in the Supreme Court disagreeing with the policy taken by the fund. This issue is sub judice in the court. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-25', 'modified' => '2021-08-25', 'keywords' => '', 'description' => '', 'sortorder' => '13613', 'image' => '20210825012820_SSF (1).jpg', 'article_date' => '2021-08-25 13:27:27', '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
