August 15: Traders have demanded to ease trade through the Tatopani customs between Nepal and China.…
August 15: Traders have demanded to ease trade through the Tatopani customs between Nepal and China.…
August 15: Finance Minister Janardan Sharma has urged the private sector to help the government in transforming the informal economy into a formal one.…
August 15: The Nepal Rastra Bank (NRB) has extended the time limit for loan disbursed by the banks and financial institutions (BFIs) to restore the tourism related businesses affected by the COVID-19…
August 15: The Nepal Rastra Bank is planning to set up a national payment switch in a bid to promote a cashless…
August 15: Nepal has become the second country globally to have completed agreements with GAVI to procure 4 million doses of Moderna vaccines, financed by the World Bank, through the COVAX cost-share option.…
Nepal Rastra Bank (NRB) has introduced the Monetary Policy for the current fiscal year…
August 13: Commercial farming of avocado has been flourishing in…
August 13: The Bagmati State Government has given continuity to the concessional loan management programme for production and job creation in the current Fiscal Year 2078/79…
August 13: Forty five percent of the business enterprises witnessed a decline in revenue collection by 75 percent due to the impact of Covid-19 pandemic, according to the Business Climate Survey…
August 13: Former finance minister Bishnu Poudel has termed the white paper presented by the government in parliament as a baseless document aimed at tarnishing the image of the former government led by KP Sharma…
August 13: Finance Minister Janardan Sharma informed that the government has decided to collect internal revenue double of its target and has directed concerned officials to prepare their work plan…
August 12: The government has decided not to levy electricity tariff on poor consumers for consuming up to 20 units of electricity per month.…
August 12: Seizing the opportunity of the market which has become chaotic due to the Covid-19 pandemic, traders have continued to arbitrarily hike the prices of various food items such as edible oil, pulses, rice, tea leaves, Horlicks, honey and even…
…
August 12: The Asian Development Bank has reached an understanding with the Government of Nepal to provide concessional loan of Rs 19.58 billion to procure anti-Covid-19…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 15: Traders have demanded to ease trade through the Tatopani customs between Nepal and China. Handing over a memorandum to Prime Minister Sher Bahadur Deuba on Saturday, a delegation from the Sindhupalchok Chamber of Commerce and Industry and the Nepal Trans Himalayan Border Commerce Association demanded that the government take initiative for smooth supply of goods via the checkpoint.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">This checkpoint has been operating erratically since the catastrophic earthquake of 2015. Traders have requested government intervention in resolving their problems stating that many the district has faced many calamities and the unstable operation of the customs has affected the traders, businessmen and workers alike.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Bed Bahadur Shrestha, the former president of Sindhupalchok Chamber of Commerce and Industry, argued that the customs that has been significantly contributing to the revenue collection should be fully operational.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Hundreds of people have lost their livelihoods after the border stopped full-scale operation. Ashok Kumar Shrestha, president of the Nepal Trans Himalayan Border Commerce Association, said that the checkpoint should be fully operational as the workers working at the checkpoint are highly affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Trans Himalayan Border Commerce Association have requested Prime Minister Deuba to take initiative for trade facilitation and disaster mitigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Jure landslide of 2014, the catastrophic earthquake of 2015, Bhotekoshi flood of 2016, landslides in Jambu, Ghumthang, and Lidi last year and the recent floods in Melamchi and Indravati rivers have caused massive damage to properties and lives in Sindhupalchok.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Stating that Kodari, Tatopani, Chaku, Barhabise, Lamosanghu, Khadichaur, Balefi, Jalbire, Dhande, Sukute, Dhandkhola, Melamchi, Panchpokhari Thangpal and Helambu are also at risk of floods and landslides, president of Sindhupalchok Chamber of Commerce and Industry Hom Bahadur Basnet said that they have requested the Prime Minister to take initiative for the resettlement of people living in risky areas after conducting proper study.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13566', 'image' => '20210815031841_20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2021-08-15 15:17:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13820', 'article_category_id' => '1', 'title' => 'Finance Minister Urges Private Sector to Build Production-Oriented Economy', 'sub_title' => '', 'summary' => 'August 15: Finance Minister Janardan Sharma has urged the private sector to help the government in transforming the informal economy into a formal one. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 15: Finance Minister Janardan Sharma has urged the private sector to help the government in transforming the informal economy into a formal one. He also asked the private sector to make efforts in building a production-oriented economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Addressing the second annual general meeting of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) on August 14, he stressed on the need to move towards replacing imports by increasing production.</span></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 essential to increase production to build an export oriented economy, stated the minister. Sharma said the government will take steps to support the private sector affected by the pandemic. He said that an attempt has been made to address it through the monetary policy introduced recently.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">To make the nation self-reliant, Minister Sharma said that the government is ready to reform policies that the private sector has been demanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Minister Sharma also stressed on the need to create a conducive environment for foreign investment by assessing the volume of national wealth and building the overall capital of the nation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Speaking at the virtual program, Shekhar Golchha, President of FNCCI, said that the monetary policy announced by the government has paid special attention to the post-Covid revival and expansion of small and medium enterprises. He said the government's relief plan was not as straightforward as in developed countries, but is supportive enough.</span></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 Federation has prepared a vision paper titled ‘National Economic Transformation 2030’ with the expectation of raising capital equivalent to $150 billion in 10 years and providing direct employment to 2.2 million people. Golchha informed that ten priority areas and 100 initiatives have been recognized to achieve this target. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13565', 'image' => '20210815030311_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-08-15 15:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13819', 'article_category_id' => '1', 'title' => ' Loan Payback Time Limit Extended for Restoring Tourism Business ', 'sub_title' => '', 'summary' => 'August 15: The Nepal Rastra Bank (NRB) has extended the time limit for loan disbursed by the banks and financial institutions (BFIs) to restore the tourism related businesses affected by the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The Nepal Rastra Bank (NRB) has extended the time limit for loan disbursed by the banks and financial institutions (BFIs) to restore the tourism related businesses affected by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The monetary policy for the fiscal year 2021/22 unveiled by the central bank of the country has a provision that BFIs would evaluate the loans to be provided to the tourism and film industries as well as party palaces, public transportation and education sectors that have been worst affected by COVID-19 pandemic and will reschedule it by mid-January next year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Governor of Nepal Rastra Bank Mahaprasad Adhikari unveiled the monetary policy for the current fiscal year on Friday giving continuatity to loan to restore the business ravaged by the COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Accounts of the interests for the loan obtained by the hardest hit sectors would be maintained separately until the end of next fiscal year, especially the hotels, travel and trekking as well as aviation sectors in the light of international travel suffering a massive setback. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, additional fine will be waived on the loan obtained by those sectors. Entrepreneurs would pay back their loan in four installments since the period of time to pay back the interest and principal amount has been extended by a year more. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13564', 'image' => '20210815080310_20180513122353_tourism.jpg', 'article_date' => '2021-08-15 08:02:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13818', 'article_category_id' => '1', 'title' => 'Central Bank Preparing to Set Up National Payment Switch ', 'sub_title' => '', 'summary' => 'August 15: The Nepal Rastra Bank is planning to set up a national payment switch in a bid to promote a cashless transaction.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The Nepal Rastra Bank is planning to set up a national payment switch in a bid to promote a cashless transaction. </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"">Unveiling the monetary policy on Friday, the central bank said it aims to observe the fiscal year 2022/23 as the year of promotion of electronic payment and transaction. To achieve this goal, the central bank is doing the needful for infrastructural development and creating awareness in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The policy has emphasised the use of country's own payment card while establishing interconnectivity among electronic payment gateways and clearing and recording digital payment gateways. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Special re-loans would be provided to payment service provider or payment system operators and communication service providers for the development and promotion of the whole electronic payment system, the central bank said. </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 central bank will make necessary arrangements for facilitating the payment of revenue and all sorts of payments through banking and digital system. Arrangements will be made for beneficiaries entitled to social security allowances to receive the allowances digitally from the banks dealing with government transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deadline for payment service providers and payment system operators to meet minimum transactions and number of customers has been extended until mid-July, 2022 due to the ongoing COVID-19. Similarly, a digital loan guideline will be prepared and implemented for facilitating banks and financial institutions to provide their services like loan application and approval digitally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The policy aims to carry out a feasibility study of digital currencies in the country in the context when many foreign countries have adopted it. </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"">Arrangements would be made for anyone to apply for citizens saving bonds and foreign employment bonds digitally and a necessary study of the use of cloud infrastructure would be carried out. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13563', 'image' => '20210815075557_central bank.jpg', 'article_date' => '2021-08-15 07:55:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13817', 'article_category_id' => '1', 'title' => 'Nepal to get 4 Million doses of Moderna Vaccines through COVAX', 'sub_title' => '', 'summary' => 'August 15: Nepal has become the second country globally to have completed agreements with GAVI to procure 4 million doses of Moderna vaccines, financed by the World Bank, through the COVAX cost-share option. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 15: Nepal has become the second country globally to have completed agreements with GAVI to procure 4 million doses of Moderna vaccines, financed by the World Bank, through the COVAX cost-share option. This will diversify and strengthen the country’s COVID-19 vaccine portfolio, the World Bank said in a statement issued on August 13.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“Nepal is an early mover in utilizing the COVAX cost-share scheme, and I am pleased to note that we have finalized an arrangement, despite very challenging circumstances, to bring safe and highly effective vaccines to Nepal,” the statement quoted Minister of State for Health and Population Umesh Shrestha as saying.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“Moderna vaccines have helped expand options for vaccinating Nepalis above 12 years of age and fast-track Nepal’s progress towards a safer post-COVID world.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the statement, the delivery of these vaccines is expected to start by March 2022 and will contribute to Nepal’s goal to vaccinate at least 72 percent of its population, as well as children of 12-17 age group for whom the Moderna vaccine is deemed safe and effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“We are honored to support the people and Government of Nepal, along with our development partners, by financing the purchase of safe and effective vaccines through the COVAX facility,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “This is a key element of our overall COVID response by helping to meet emergency health needs and strengthening the healthcare and vaccine delivery system.”</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 World Bank has made available $104 million to support the Government of Nepal’s health response to the pandemic, with $67.5 million earmarked to purchase and deploy COVID-19 vaccines. Last month, 1,000 oxygen concentrators were brought in through the project while seven oxygen generation plants are being established, one in each province. These will help strengthen health preparedness in the event of future waves of the pandemic.</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' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13562', 'image' => '20210815074700_20191015114123_aaaa.jpg', 'article_date' => '2021-08-15 07:45:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13816', 'article_category_id' => '1', 'title' => '10 Key Provisions in Monetary Policy for Current Fiscal Year ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has introduced the Monetary Policy for the current fiscal year (2021/22).', 'content' => '<p>August 14: Nepal Rastra Bank (NRB) has introduced the Monetary Policy for the current fiscal year (2021/22).<br /> The monetary policy unveiled by the NRB Governor Maha Prasad Adhikari on Friday aims at reining credit growth of the banking sector toward private sector, encourage bank and financial institutions (BFIs) for merger and acquisition and continue support or relief to businesses or borrowers hit by the Covid-19, among others.<br /> The monetary policy for the current fiscal year was delayed by a few weeks as the newly appointed Minister for Finance Janardan Sharma reportedly asked the central bank to wait for some time.<br /> While keeping major policy rates like cash reserve ratio (CRR), statutory liquidity ratio (SLR) and bank rate unchanged, the central bank in its monetary policy projected the private sector credit to grow by 19 percent compared to 20 percent in the last fiscal year (2019/20). Average annual inflation will be tamed at 6.5 percent in the current fiscal year, according to the monetary policy.<br /> In line with the demand of banks and financial institutions, the central bank announced that it will now ditch credit to core capital cum deposit ratio requirement of 85 percent to adopt credit to deposit ratio requirement. According to the new announcement, BFIs will be required to maintain 90 percent of CD ratio by mid July next year.<br /> Not only commercial banks, development banks, finance companies and wholesale lending microfinance companies will also be required to float debentures worth 25 percent of their paid-up capital.<br /> In order to encourage Nepali workers to adopt formal channels to send their money and save their earnings, the central bank said that one percentage point higher interest will be provided on their deposits if sent through banking channels.<br /> Consortium financing limit for bank and financial institutions has been increased to Rs 2 billion for Rs 1 billion.<br /> The central bank also announced various relief measures including the continuity of some of the provisions introduced in the monetary policy for the last fiscal year.<br /> Similarly, NRB announced some policy relaxations for banks and financial institutions to go for merger and acquisition. According to the monetary policy, the central bank will provide one year extension for BFIs to meet targeted sector lending, waiver of Cash Reserve Ratio requirement by 0.5 percentage point and one percentage point waiver on SLR requirement for one year, cooling period for board directors and CEOs, 5 percentage point higher limit on individual customer deposit and one percentage point higher interest spread rate, among other facilities, for those who complete their merger and acquisition and start joint operation in the current fiscal year.<br /> <em><strong>Here are the 10 major highlights of the monetary policy:</strong></em><br /> 1- Inflation target at 6.5 percent; Private sector credit projected to expand by 19 percent<br /> 2- CCD ratio requirement of 85 percent scrapped to adopt 90 percent CD ratio requirement<br /> 3- Continuity of supports for borrowers hit by pandemic including refinance facility, business continuity loan, rescheduling and restructuring of loans<br /> 4- Limit on loans against share pledges—Rs 40 million from one bank or financial institution and Rs 120 million in total<br /> 5- Rs 1.5 million business loans under deprived sector for those people who lost jobs in tourism sector due to Covid-19<br /> 6- BFIs would not be allowed to charge more than 2 percent premium on base rate for business loans below Rs 10 million<br /> 7- Feasibility study will be carried out on central bank digital currency<br /> 8- Digital lending framework will be formulated to facilitate BFIs for online lending services<br /> 9- Deferral of implementation of Counter Cyclical Buffer measures until mid July next year<br /> 10- Review of Base Rate formula<br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-14', 'modified' => '2021-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '13561', 'image' => '20210814034144_1628862557.Mahaprasad-Adhikari-1.jpg', 'article_date' => '2021-08-14 15:38:08', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13815', 'article_category_id' => '1', 'title' => 'Commercial Farming of Avocado Flourishing in Bhojpur', 'sub_title' => '', 'summary' => 'August 13: Commercial farming of avocado has been flourishing in Bhojpur.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 13: Commercial farming of avocado has been flourishing in Bhojpur. Prem Kumar Rai of Arun rural municipality – 6 Jarayotar of the district had started commercial farming of avocado in Bhojpur five years ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Rai, who started his business by bringing 50 saplings of avocado from neighboring district Dhankuta, now has 300 saplings. He said that he started the business after learning about the potential market of avocado fruit. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Avocados are better sold and distributed abroad than in Nepal," said Rai, "In recent years, the number of foreigners coming to Nepal has increased and therefore the avocado are also being sold in Nepal."</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He started cultivating avocado after learning that a good income can be earned for a long time with less effort.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Rai has started commercial farming of avocado in an area of 300 ropanis in Arun rural municipality – 6, Jarayotar. Having lived abroad for about five years, he started commercial avocado farming with the aim of doing something in the country. According to him, avocados in Nepal are sold for anything between Rs 300 to Rs 500 per kg.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that he has a target of earning up to Rs 5 million annually in the next few years. The Agricultural Knowledge Center and the local level have been providing financial and technical assistance to the farmers along with the distribution of avocado saplings. </span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13560', 'image' => '20210813023324_Growing-Avocados..jpg', 'article_date' => '2021-08-13 14:32:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13813', 'article_category_id' => '1', 'title' => 'Bagmati Province gives Continuity to Collateral-free Concessional Loan ', 'sub_title' => '', 'summary' => 'August 13: The Bagmati State Government has given continuity to the concessional loan management programme for production and job creation in the current Fiscal Year 2078/79 BS.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">August 13: The Bagmati State Government has given continuity to the concessional loan management programme for production and job creation in the current Fiscal Year 2078/79 BS. According to the Ministry of Financial Affairs and Planning under the province, a total of Rs 2 billion has been allocated for the concessional loan in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The state government had started the programme from the last fiscal year 2077/78. Minister for Financial Affairs and Planning Kailash Prasad Dhungel informed that the concessional loan investment management programme brought to support the livelihood of the general public has been continued and will be carried out more effectively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As per the programme, loans will be provided for agribusiness-related production, processing, storage and marketing, industry business, tourism promotion, women entrepreneurship, marginalized community business, and waste management. A loan up to a maximum of Rs 1 million will be disbursed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The concessional loan investment program has been given continuity this year for production and job creation targeting young entrepreneurs. The state government will provide loans to young entrepreneurs at a concessional rate of 3 percent through Agriculture Development Bank Limited in all 13 districts. A concessional loan will be provided to a firm, company, or institution run by a person in the age group of 21 to 40 years or a group formed by that age group.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Planning Budget and Programme Division of the Ministry of Financial Affairs and Planning, there is a programme to provide loans up to Rs 2 million at an interest rate of 3 percent per annum for a maximum of five years to a young entrepreneur or a group of youths for various businesses.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry has a strategy to invest concessional loans in different sectors like agri-business, industry, tourism promotion, trade, forest and environment, and women and Dalit security development.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the current fiscal year, the ministry has set a target of providing Rs 478.96 million to 1,600 farmers in the agri-business sector and Rs 200,000 for the forest and environment sector. The ministry plans to continue the loan investment programme through 65 branch offices of Agriculture Development Bank Limited and 251 branch offices of Sana Kisan Development Microfinance in Bagmati Province.</span></span></span></span></p> <p><br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13558', 'image' => '20210813022638_20210721120621_20210605063901_Business Bank Loans.jpg', 'article_date' => '2021-08-13 14:25:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13812', 'article_category_id' => '1', 'title' => 'Revenue of Business Enterprises Declines due to the Impact of COVID-19: Survey', 'sub_title' => '', 'summary' => 'August 13: Forty five percent of the business enterprises witnessed a decline in revenue collection by 75 percent due to the impact of Covid-19 pandemic, according to the Business Climate Survey 2020/21.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">August 13: Forty five percent of the business enterprises witnessed a decline in revenue collection by 75 percent due to the impact of Covid-19 pandemic, according to the Business Climate Survey 2020/21. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The survey revealed that 32 percent of the enterprises saw a decline in revenue between 50 to 70 percent, while 15 percent of business stated their revenue had declined by 25 to 50 percent and only one percent of the enterprises had a little increase in revenue.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The Business Climate Survey is conducted by Local and Provincial Economic Development Project (LPED) which is a joint initiative of the Ministry of Land Management, Cooperatives and Poverty Alleviation and GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). These results were made public in a program titled 'National Dissemination Workshop of the Business Climate Survey 2020/21 organized by the Ministry of Land Management, Cooperative and Poverty Alleviation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">LPED Project is currently running in eleven municipalities of Lumbini, Sudur Paschim and Karnali provinces. It aims to improve framework conditions for economic development in these municipalities. Business Climate Survey is a part of the LPED project conducted through telephone and virtual medium. The survey also found out that 50.95 percent of the enterprises were of micro in size, 4.4 percent were small and 0.3 percent and 0.1 percent were medium and large respectively. Among all the enterprises 20 percent were led by women.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">It has monitored competitiveness of municipalities in attaining investment and attracting it, employment rate, climate resilience, measured quality of economic governance and COVID 19 impact on business performance. Municipalities were also awarded for their better performances in various indices.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Butwal Sub Metropolitan city scored highest points in the local economic performance index of the Business Climate Survey 2020/21.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Speaking at the program, Head of Development and Economic Cooperation at German Embassy, Stephen Russek said business climate survey is a tool for local and regional economic development which will enable decision makers, politicians to take informed decision for economic growth. The results shall be a source for municipalities to plan for developments and improve economic governance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Russek, Business Climate Survey will include more indicators, assess the climate change and expand it to other regions and municipalities from the next year. He believes this survey will certainly help to compare business conditions between municipalities, make them transparent and open for discussion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Magali Mander, Chief Technical Advisor of LPED project, said that LPED develop strategies, build capacities of the public, private enterprises for local and provincial economic development, promote innovation and entrepreneurship and exchange experience on development at local, provincial and federal level. The old LPED project was focused on Sudur Paschim and Karnali provinces but now has been extended to Lumbini province as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13557', 'image' => '20210813114400_AdobeStock_137079042-compressor-696x464.jpeg', 'article_date' => '2021-08-13 11:43:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13811', 'article_category_id' => '1', 'title' => 'Former Minister Poudel Argues White Paper is just a Document Criticizing the Previous Government', 'sub_title' => '', 'summary' => 'August 13: Former finance minister Bishnu Poudel has termed the white paper presented by the government in parliament as a baseless document aimed at tarnishing the image of the former government led by KP Sharma Oli.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: Former finance minister Bishnu Poudel has termed the white paper presented by the government in parliament as a baseless document aimed at tarnishing the image of the former government led by KP Sharma Oli.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking in the parliament on Thursday, former minister Poudel accused the government of bringing the whitepaper only for objecting to the previous government’s works. “Although the white paper presents information about the current economic condition of the country, it is more focused on criticizing the works of the previous government,” said Poudel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government has no right to object to the reports prepared by the Financial Comptroller General’s Office, Nepal Rastra Bank, and Central Bureau of Statistics, among others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Poudel argued that the white paper has presented facts and conclusion in different ways. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He further said that the whitepaper presented in parliament a few days ago by Finance Minister Janardan Sharma has largely ignored the adverse impacts of COVID-19 on the national economy. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Due to COVID-19, production and income declined but average spending remained stable. But this fact was neglected in the whitepaper, said Poudel. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He also took time to praise the programmes of the previous government such as the prime minister employment programme, social security, child security grant, workplace training to workers, accidental insurance in group to workers, and the progress on national pride projects including Melamchi Water Supply Project, Upper Tamakoshi Hydropower, among others. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13556', 'image' => '20210813104740_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2021-08-13 10:46:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13810', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs IRD Officials to Step Up Revenue Collection', 'sub_title' => '', 'summary' => 'August 13: Finance Minister Janardan Sharma informed that the government has decided to collect internal revenue double of its target and has directed concerned officials to prepare their work plan accordingly.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: Finance Minister Janardan Sharma informed that the government has decided to collect internal revenue double of its target and has directed concerned officials to prepare their work plan accordingly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">During an interaction with officials of the Inland Revenue Department (IRD) on Thursday (August 12), Minister Sharma stated that the present work style is not enough to contribute to the country's development and therefore stressed on new work plan to boost revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">“I will not tolerate the attitude that the current performance is enough and this is the way things are done,” said Minister Sharma, adding, “Think with a clear mind and you will find ways to boost revenue collection.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma assured the officials of assistance in terms of human resources, technology and training so that they could meet the revenue target. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the minister asked IRD officials how they could build a culture where taxpayers were attracted to tax pay instead of forcing them to pay tax. "The atmosphere for them should be created in such a way it encourages them to pay tax," he reiterated. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Minister, the time has come to evaluate the entire country's property. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, newly-appointed Finance Secretary Madhu Kumar Marasini informed that revenue is the lifeline of national economy. He added that revenue officials need to work extra hours as 10 to 5 duty would not be enough to meet the target. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary Marasini urged the revenue offices to go digital to make transactions cashless as far as possible. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13555', 'image' => '20210813102429_1628089106.jpg', 'article_date' => '2021-08-13 10:23:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13809', 'article_category_id' => '1', 'title' => 'Government Announces up to 20 units of Electricity Free of Cost to Deprived Families ', 'sub_title' => '', 'summary' => 'August 12: The government has decided not to levy electricity tariff on poor consumers for consuming up to 20 units of electricity per month. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">August 12: The government has decided not to levy electricity tariff on poor consumers for consuming up to 20 units of electricity per month. Minister for Energy, Water Resources, and Irrigation Pampha Bhusal informed the decision at a press conference on Wednesday (August 11). When Bhusal took charge of the ministerial portfolio, she had announced that no charge would be levied on poor consumers consuming up to 20 units of electricity. Shortly afterward, the declaration is in the process of implementation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The Board of Directors of Nepal Electricity Authority (NEA) has agreed not to charge the poor consumers as per the decision of the ministry. The tariff has also been proposed to the Electricity Regulatory Commission. After the approval from the commission, the target group customers will get up to 20 units of electricity free of cost every month. However, they will have to pay the demand fee. Minister Bhusal said that they would have to pay a monthly demand fee of Rs 30. Currently, customers consuming up to 10 units of electricity have been getting such facilities.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Minister Bhusal said that the decision aims to provide relief to the deprived families. It is estimated that about 2.5 million underprivileged families will receive relief from the decision. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The government is preparing to provide a 50 percent discount to farmers using surface water lift technology in agriculture when there is high demand and 80 percent at other times, which will help in the promotion of cash crops. Giving electricity tariff exemption will cost around Rs 700 million monthly, which will be borne by the NEA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The government is also planning to increase the use of electric vehicles, reduce electricity tariff and build 50 charging stations within this year, said Minister Bhusal. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13554', 'image' => '20210812032203_20190915092327_20190517010911_aaa.jpg', 'article_date' => '2021-08-12 15:20:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13808', 'article_category_id' => '1', 'title' => 'Food Prices Continue to Surge', 'sub_title' => 'Stakeholders Blame Weak Market Monitoring and Political Instability for the Unnatural Price Hike', 'summary' => 'August 12: Seizing the opportunity of the market which has become chaotic due to the Covid-19 pandemic, traders have continued to arbitrarily hike the prices of various food items such as edible oil, pulses, rice, tea leaves, Horlicks, honey and even chocolates. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 12: Seizing the opportunity of the market which has become chaotic due to the Covid-19 pandemic, traders have continued to arbitrarily hike the prices of various food items such as edible oil, pulses, rice, tea leaves, Horlicks, honey and even chocolates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Taking advantage of the weak market monitoring of the government and political instability, traders have repeatedly raised prices. According to the Nepal Retailers Association, the price of mustard oil, which was Rs 250 per liter three months ago, has gone up to Rs 370. Likewise, the price of soybean oil, which was Rs 220 per liter earlier, has now increased to Rs 255, while the price of sunflower oil has also increased by Rs 50 to Rs 280 per liter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Along with edible oil, the prices of pulses and rice have also increased. The price of red lentil, which was Rs 110 per kg at the time of the lockdown in April, has gone up to Rs 130 per kg.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The price of black lentil has gone up by Rs 20 per kg from Rs 160 to Rs 180 per kg. Similarly, according to the association, the price of each brand of rice has gone up from Rs 50 to Rs 100 per sack. It is said that some traders and mediators may have increased the prices on the pretext of political instability and prohibitory order.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Pabitra Bajracharya, former president of the association, said that the prices of tea leaves, Horlicks, honey and chocolate have also increased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to him, the price of 500 grams of Horlicks, which was Rs 370 till last April, has now increased to Rs 400. Honey, which costs Rs 600 per kg, is being sold at Rs 650 and Tokla tea that used to cost Rs 90 is being sold at Rs 130 to Rs 140. Similarly, the prices of all types of chocolates have increased up to Rs 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Furthermore, he said that at present, the price of every food item has gone up by 10 percent. Although there is no actual reason for increasing prices at this time, it is said that consumers are being affected by the continuous price hike. Stakeholders have said that weak market monitoring and political instability are the main reasons behind the unnatural rise in food prices in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Madhav Timilsina, chairman of the Consumer Rights Investigation Forum, said traders were taking advantage of the weak government mechanism to monitor and intervene in the market and the current political instability to increase the prices of all food items. He said that it was not relevant for the prices to increase even after the consumption has decreased as the places where more food is consumed like big hotels, restaurants and party palaces are closed. He argues that the government mechanism should be honest about this. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13553', 'image' => '20210812011140_Price Hike.jpg', 'article_date' => '2021-08-12 13:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13806', 'article_category_id' => '1', 'title' => ' Government Reappoints Kulman Ghising as Executive Director of NEA', 'sub_title' => '', 'summary' => '', 'content' => '<p><em>Newly-appointed Executive Director of NEA Kulman Ghising in this file photo. Photo: NBA</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 12: The government has appointed Kulman Ghising as the executive director of Nepal Electricity Authority (NEA), according to the state-owned national news agency RSS. It is the second time that Ghising has been appointed as the executive director of the authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghising had retired from the post of NEA executive director ten months ago after completion of his four-year-term. </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 Ministry of Energy, Water Resources and Irrigation, Ghising has been appointed for another four-year term. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, NEA’s outgoing executive director Hitendra Dev Shakya has been appointed as a full-term member with the special rank at the Water and Energy Commission, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Monday (August 9) took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The erstwhile KP Oli-led government had decided not to continue Ghising for a second term despite popular demand for his reappointment from all quarters.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry said the Sher Bahadur Deuba-led government decided to bring Ghising to the NEA for a second time considering his outstanding performance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghising is credited for liberating the NEA from 28 billion accumulated loss and taking the organisation to profit. He had been able to completely free the people of the hours-long power outage problem while he was in office. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13552', 'image' => '20210812100140_intr1 (Copy) (1).jpg', 'article_date' => '2021-08-12 09:59:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13807', 'article_category_id' => '1', 'title' => ' ADB to Provide Concessional Loan to Purchase anti-COVID-19 Vaccine ', 'sub_title' => '', 'summary' => 'August 12: The Asian Development Bank has reached an understanding with the Government of Nepal to provide concessional loan of Rs 19.58 billion to procure anti-Covid-19 vaccines.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 12: <span style="font-family:"Arial Unicode MS","sans-serif"">The Asian Development Bank has reached an understanding with the Government of Nepal to provide concessional loan of Rs 19.58 billion to procure anti-Covid-19 vaccines. </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"">ADB country representative Arnaud Cauchois and Finance Secretary Madhu Marasini signed the agreement on behalf of their respective organisations amid a function organized at Finance Ministry on Wednesday (August 11). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The government is expected to purchase 15 million doses of vaccines with the assistance from ADB. As a result, as many as 6.8 million people would benefit with the ADB’s support, the bank 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 Unicode MS","sans-serif"">On the occasion, Secretary Marasini expressed that that ADB’s assistance would be a milestone to ensure vaccines for the people so that the country's economic activities could return back on track. Vaccination is the top priority of the government, he added. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, ADB country representative Cauchois said that the ADB’s assistance to Nepal would help save lives and restore economic and social activities. He assured that such help would continue in the days ahead. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13551', 'image' => '20210812100755_20210505032710_20200430022205_asian-development-bank-ru.jpg', 'article_date' => '2021-08-12 10:06:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '13821', 'article_category_id' => '1', 'title' => 'Traders Call for Easing Trade through Tatopani Customs', 'sub_title' => '', 'summary' => 'August 15: Traders have demanded to ease trade through the Tatopani customs between Nepal and China. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 15: Traders have demanded to ease trade through the Tatopani customs between Nepal and China. Handing over a memorandum to Prime Minister Sher Bahadur Deuba on Saturday, a delegation from the Sindhupalchok Chamber of Commerce and Industry and the Nepal Trans Himalayan Border Commerce Association demanded that the government take initiative for smooth supply of goods via the checkpoint.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">This checkpoint has been operating erratically since the catastrophic earthquake of 2015. Traders have requested government intervention in resolving their problems stating that many the district has faced many calamities and the unstable operation of the customs has affected the traders, businessmen and workers alike.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Bed Bahadur Shrestha, the former president of Sindhupalchok Chamber of Commerce and Industry, argued that the customs that has been significantly contributing to the revenue collection should be fully operational.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Hundreds of people have lost their livelihoods after the border stopped full-scale operation. Ashok Kumar Shrestha, president of the Nepal Trans Himalayan Border Commerce Association, said that the checkpoint should be fully operational as the workers working at the checkpoint are highly affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Trans Himalayan Border Commerce Association have requested Prime Minister Deuba to take initiative for trade facilitation and disaster mitigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Jure landslide of 2014, the catastrophic earthquake of 2015, Bhotekoshi flood of 2016, landslides in Jambu, Ghumthang, and Lidi last year and the recent floods in Melamchi and Indravati rivers have caused massive damage to properties and lives in Sindhupalchok.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Stating that Kodari, Tatopani, Chaku, Barhabise, Lamosanghu, Khadichaur, Balefi, Jalbire, Dhande, Sukute, Dhandkhola, Melamchi, Panchpokhari Thangpal and Helambu are also at risk of floods and landslides, president of Sindhupalchok Chamber of Commerce and Industry Hom Bahadur Basnet said that they have requested the Prime Minister to take initiative for the resettlement of people living in risky areas after conducting proper study.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13566', 'image' => '20210815031841_20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2021-08-15 15:17:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13820', 'article_category_id' => '1', 'title' => 'Finance Minister Urges Private Sector to Build Production-Oriented Economy', 'sub_title' => '', 'summary' => 'August 15: Finance Minister Janardan Sharma has urged the private sector to help the government in transforming the informal economy into a formal one. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 15: Finance Minister Janardan Sharma has urged the private sector to help the government in transforming the informal economy into a formal one. He also asked the private sector to make efforts in building a production-oriented economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Addressing the second annual general meeting of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) on August 14, he stressed on the need to move towards replacing imports by increasing production.</span></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 essential to increase production to build an export oriented economy, stated the minister. Sharma said the government will take steps to support the private sector affected by the pandemic. He said that an attempt has been made to address it through the monetary policy introduced recently.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">To make the nation self-reliant, Minister Sharma said that the government is ready to reform policies that the private sector has been demanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Minister Sharma also stressed on the need to create a conducive environment for foreign investment by assessing the volume of national wealth and building the overall capital of the nation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Speaking at the virtual program, Shekhar Golchha, President of FNCCI, said that the monetary policy announced by the government has paid special attention to the post-Covid revival and expansion of small and medium enterprises. He said the government's relief plan was not as straightforward as in developed countries, but is supportive enough.</span></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 Federation has prepared a vision paper titled ‘National Economic Transformation 2030’ with the expectation of raising capital equivalent to $150 billion in 10 years and providing direct employment to 2.2 million people. Golchha informed that ten priority areas and 100 initiatives have been recognized to achieve this target. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13565', 'image' => '20210815030311_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-08-15 15:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13819', 'article_category_id' => '1', 'title' => ' Loan Payback Time Limit Extended for Restoring Tourism Business ', 'sub_title' => '', 'summary' => 'August 15: The Nepal Rastra Bank (NRB) has extended the time limit for loan disbursed by the banks and financial institutions (BFIs) to restore the tourism related businesses affected by the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The Nepal Rastra Bank (NRB) has extended the time limit for loan disbursed by the banks and financial institutions (BFIs) to restore the tourism related businesses affected by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The monetary policy for the fiscal year 2021/22 unveiled by the central bank of the country has a provision that BFIs would evaluate the loans to be provided to the tourism and film industries as well as party palaces, public transportation and education sectors that have been worst affected by COVID-19 pandemic and will reschedule it by mid-January next year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Governor of Nepal Rastra Bank Mahaprasad Adhikari unveiled the monetary policy for the current fiscal year on Friday giving continuatity to loan to restore the business ravaged by the COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Accounts of the interests for the loan obtained by the hardest hit sectors would be maintained separately until the end of next fiscal year, especially the hotels, travel and trekking as well as aviation sectors in the light of international travel suffering a massive setback. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, additional fine will be waived on the loan obtained by those sectors. Entrepreneurs would pay back their loan in four installments since the period of time to pay back the interest and principal amount has been extended by a year more. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13564', 'image' => '20210815080310_20180513122353_tourism.jpg', 'article_date' => '2021-08-15 08:02:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13818', 'article_category_id' => '1', 'title' => 'Central Bank Preparing to Set Up National Payment Switch ', 'sub_title' => '', 'summary' => 'August 15: The Nepal Rastra Bank is planning to set up a national payment switch in a bid to promote a cashless transaction.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The Nepal Rastra Bank is planning to set up a national payment switch in a bid to promote a cashless transaction. </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"">Unveiling the monetary policy on Friday, the central bank said it aims to observe the fiscal year 2022/23 as the year of promotion of electronic payment and transaction. To achieve this goal, the central bank is doing the needful for infrastructural development and creating awareness in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The policy has emphasised the use of country's own payment card while establishing interconnectivity among electronic payment gateways and clearing and recording digital payment gateways. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Special re-loans would be provided to payment service provider or payment system operators and communication service providers for the development and promotion of the whole electronic payment system, the central bank said. </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 central bank will make necessary arrangements for facilitating the payment of revenue and all sorts of payments through banking and digital system. Arrangements will be made for beneficiaries entitled to social security allowances to receive the allowances digitally from the banks dealing with government transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deadline for payment service providers and payment system operators to meet minimum transactions and number of customers has been extended until mid-July, 2022 due to the ongoing COVID-19. Similarly, a digital loan guideline will be prepared and implemented for facilitating banks and financial institutions to provide their services like loan application and approval digitally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The policy aims to carry out a feasibility study of digital currencies in the country in the context when many foreign countries have adopted it. </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"">Arrangements would be made for anyone to apply for citizens saving bonds and foreign employment bonds digitally and a necessary study of the use of cloud infrastructure would be carried out. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13563', 'image' => '20210815075557_central bank.jpg', 'article_date' => '2021-08-15 07:55:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13817', 'article_category_id' => '1', 'title' => 'Nepal to get 4 Million doses of Moderna Vaccines through COVAX', 'sub_title' => '', 'summary' => 'August 15: Nepal has become the second country globally to have completed agreements with GAVI to procure 4 million doses of Moderna vaccines, financed by the World Bank, through the COVAX cost-share option. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 15: Nepal has become the second country globally to have completed agreements with GAVI to procure 4 million doses of Moderna vaccines, financed by the World Bank, through the COVAX cost-share option. This will diversify and strengthen the country’s COVID-19 vaccine portfolio, the World Bank said in a statement issued on August 13.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“Nepal is an early mover in utilizing the COVAX cost-share scheme, and I am pleased to note that we have finalized an arrangement, despite very challenging circumstances, to bring safe and highly effective vaccines to Nepal,” the statement quoted Minister of State for Health and Population Umesh Shrestha as saying.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“Moderna vaccines have helped expand options for vaccinating Nepalis above 12 years of age and fast-track Nepal’s progress towards a safer post-COVID world.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the statement, the delivery of these vaccines is expected to start by March 2022 and will contribute to Nepal’s goal to vaccinate at least 72 percent of its population, as well as children of 12-17 age group for whom the Moderna vaccine is deemed safe and effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“We are honored to support the people and Government of Nepal, along with our development partners, by financing the purchase of safe and effective vaccines through the COVAX facility,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “This is a key element of our overall COVID response by helping to meet emergency health needs and strengthening the healthcare and vaccine delivery system.”</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 World Bank has made available $104 million to support the Government of Nepal’s health response to the pandemic, with $67.5 million earmarked to purchase and deploy COVID-19 vaccines. Last month, 1,000 oxygen concentrators were brought in through the project while seven oxygen generation plants are being established, one in each province. These will help strengthen health preparedness in the event of future waves of the pandemic.</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' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13562', 'image' => '20210815074700_20191015114123_aaaa.jpg', 'article_date' => '2021-08-15 07:45:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13816', 'article_category_id' => '1', 'title' => '10 Key Provisions in Monetary Policy for Current Fiscal Year ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has introduced the Monetary Policy for the current fiscal year (2021/22).', 'content' => '<p>August 14: Nepal Rastra Bank (NRB) has introduced the Monetary Policy for the current fiscal year (2021/22).<br /> The monetary policy unveiled by the NRB Governor Maha Prasad Adhikari on Friday aims at reining credit growth of the banking sector toward private sector, encourage bank and financial institutions (BFIs) for merger and acquisition and continue support or relief to businesses or borrowers hit by the Covid-19, among others.<br /> The monetary policy for the current fiscal year was delayed by a few weeks as the newly appointed Minister for Finance Janardan Sharma reportedly asked the central bank to wait for some time.<br /> While keeping major policy rates like cash reserve ratio (CRR), statutory liquidity ratio (SLR) and bank rate unchanged, the central bank in its monetary policy projected the private sector credit to grow by 19 percent compared to 20 percent in the last fiscal year (2019/20). Average annual inflation will be tamed at 6.5 percent in the current fiscal year, according to the monetary policy.<br /> In line with the demand of banks and financial institutions, the central bank announced that it will now ditch credit to core capital cum deposit ratio requirement of 85 percent to adopt credit to deposit ratio requirement. According to the new announcement, BFIs will be required to maintain 90 percent of CD ratio by mid July next year.<br /> Not only commercial banks, development banks, finance companies and wholesale lending microfinance companies will also be required to float debentures worth 25 percent of their paid-up capital.<br /> In order to encourage Nepali workers to adopt formal channels to send their money and save their earnings, the central bank said that one percentage point higher interest will be provided on their deposits if sent through banking channels.<br /> Consortium financing limit for bank and financial institutions has been increased to Rs 2 billion for Rs 1 billion.<br /> The central bank also announced various relief measures including the continuity of some of the provisions introduced in the monetary policy for the last fiscal year.<br /> Similarly, NRB announced some policy relaxations for banks and financial institutions to go for merger and acquisition. According to the monetary policy, the central bank will provide one year extension for BFIs to meet targeted sector lending, waiver of Cash Reserve Ratio requirement by 0.5 percentage point and one percentage point waiver on SLR requirement for one year, cooling period for board directors and CEOs, 5 percentage point higher limit on individual customer deposit and one percentage point higher interest spread rate, among other facilities, for those who complete their merger and acquisition and start joint operation in the current fiscal year.<br /> <em><strong>Here are the 10 major highlights of the monetary policy:</strong></em><br /> 1- Inflation target at 6.5 percent; Private sector credit projected to expand by 19 percent<br /> 2- CCD ratio requirement of 85 percent scrapped to adopt 90 percent CD ratio requirement<br /> 3- Continuity of supports for borrowers hit by pandemic including refinance facility, business continuity loan, rescheduling and restructuring of loans<br /> 4- Limit on loans against share pledges—Rs 40 million from one bank or financial institution and Rs 120 million in total<br /> 5- Rs 1.5 million business loans under deprived sector for those people who lost jobs in tourism sector due to Covid-19<br /> 6- BFIs would not be allowed to charge more than 2 percent premium on base rate for business loans below Rs 10 million<br /> 7- Feasibility study will be carried out on central bank digital currency<br /> 8- Digital lending framework will be formulated to facilitate BFIs for online lending services<br /> 9- Deferral of implementation of Counter Cyclical Buffer measures until mid July next year<br /> 10- Review of Base Rate formula<br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-14', 'modified' => '2021-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '13561', 'image' => '20210814034144_1628862557.Mahaprasad-Adhikari-1.jpg', 'article_date' => '2021-08-14 15:38:08', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13815', 'article_category_id' => '1', 'title' => 'Commercial Farming of Avocado Flourishing in Bhojpur', 'sub_title' => '', 'summary' => 'August 13: Commercial farming of avocado has been flourishing in Bhojpur.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 13: Commercial farming of avocado has been flourishing in Bhojpur. Prem Kumar Rai of Arun rural municipality – 6 Jarayotar of the district had started commercial farming of avocado in Bhojpur five years ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Rai, who started his business by bringing 50 saplings of avocado from neighboring district Dhankuta, now has 300 saplings. He said that he started the business after learning about the potential market of avocado fruit. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Avocados are better sold and distributed abroad than in Nepal," said Rai, "In recent years, the number of foreigners coming to Nepal has increased and therefore the avocado are also being sold in Nepal."</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He started cultivating avocado after learning that a good income can be earned for a long time with less effort.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Rai has started commercial farming of avocado in an area of 300 ropanis in Arun rural municipality – 6, Jarayotar. Having lived abroad for about five years, he started commercial avocado farming with the aim of doing something in the country. According to him, avocados in Nepal are sold for anything between Rs 300 to Rs 500 per kg.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that he has a target of earning up to Rs 5 million annually in the next few years. The Agricultural Knowledge Center and the local level have been providing financial and technical assistance to the farmers along with the distribution of avocado saplings. </span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13560', 'image' => '20210813023324_Growing-Avocados..jpg', 'article_date' => '2021-08-13 14:32:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13813', 'article_category_id' => '1', 'title' => 'Bagmati Province gives Continuity to Collateral-free Concessional Loan ', 'sub_title' => '', 'summary' => 'August 13: The Bagmati State Government has given continuity to the concessional loan management programme for production and job creation in the current Fiscal Year 2078/79 BS.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">August 13: The Bagmati State Government has given continuity to the concessional loan management programme for production and job creation in the current Fiscal Year 2078/79 BS. According to the Ministry of Financial Affairs and Planning under the province, a total of Rs 2 billion has been allocated for the concessional loan in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The state government had started the programme from the last fiscal year 2077/78. Minister for Financial Affairs and Planning Kailash Prasad Dhungel informed that the concessional loan investment management programme brought to support the livelihood of the general public has been continued and will be carried out more effectively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As per the programme, loans will be provided for agribusiness-related production, processing, storage and marketing, industry business, tourism promotion, women entrepreneurship, marginalized community business, and waste management. A loan up to a maximum of Rs 1 million will be disbursed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The concessional loan investment program has been given continuity this year for production and job creation targeting young entrepreneurs. The state government will provide loans to young entrepreneurs at a concessional rate of 3 percent through Agriculture Development Bank Limited in all 13 districts. A concessional loan will be provided to a firm, company, or institution run by a person in the age group of 21 to 40 years or a group formed by that age group.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Planning Budget and Programme Division of the Ministry of Financial Affairs and Planning, there is a programme to provide loans up to Rs 2 million at an interest rate of 3 percent per annum for a maximum of five years to a young entrepreneur or a group of youths for various businesses.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry has a strategy to invest concessional loans in different sectors like agri-business, industry, tourism promotion, trade, forest and environment, and women and Dalit security development.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the current fiscal year, the ministry has set a target of providing Rs 478.96 million to 1,600 farmers in the agri-business sector and Rs 200,000 for the forest and environment sector. The ministry plans to continue the loan investment programme through 65 branch offices of Agriculture Development Bank Limited and 251 branch offices of Sana Kisan Development Microfinance in Bagmati Province.</span></span></span></span></p> <p><br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13558', 'image' => '20210813022638_20210721120621_20210605063901_Business Bank Loans.jpg', 'article_date' => '2021-08-13 14:25:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13812', 'article_category_id' => '1', 'title' => 'Revenue of Business Enterprises Declines due to the Impact of COVID-19: Survey', 'sub_title' => '', 'summary' => 'August 13: Forty five percent of the business enterprises witnessed a decline in revenue collection by 75 percent due to the impact of Covid-19 pandemic, according to the Business Climate Survey 2020/21.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">August 13: Forty five percent of the business enterprises witnessed a decline in revenue collection by 75 percent due to the impact of Covid-19 pandemic, according to the Business Climate Survey 2020/21. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The survey revealed that 32 percent of the enterprises saw a decline in revenue between 50 to 70 percent, while 15 percent of business stated their revenue had declined by 25 to 50 percent and only one percent of the enterprises had a little increase in revenue.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The Business Climate Survey is conducted by Local and Provincial Economic Development Project (LPED) which is a joint initiative of the Ministry of Land Management, Cooperatives and Poverty Alleviation and GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). These results were made public in a program titled 'National Dissemination Workshop of the Business Climate Survey 2020/21 organized by the Ministry of Land Management, Cooperative and Poverty Alleviation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">LPED Project is currently running in eleven municipalities of Lumbini, Sudur Paschim and Karnali provinces. It aims to improve framework conditions for economic development in these municipalities. Business Climate Survey is a part of the LPED project conducted through telephone and virtual medium. The survey also found out that 50.95 percent of the enterprises were of micro in size, 4.4 percent were small and 0.3 percent and 0.1 percent were medium and large respectively. Among all the enterprises 20 percent were led by women.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">It has monitored competitiveness of municipalities in attaining investment and attracting it, employment rate, climate resilience, measured quality of economic governance and COVID 19 impact on business performance. Municipalities were also awarded for their better performances in various indices.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Butwal Sub Metropolitan city scored highest points in the local economic performance index of the Business Climate Survey 2020/21.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Speaking at the program, Head of Development and Economic Cooperation at German Embassy, Stephen Russek said business climate survey is a tool for local and regional economic development which will enable decision makers, politicians to take informed decision for economic growth. The results shall be a source for municipalities to plan for developments and improve economic governance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Russek, Business Climate Survey will include more indicators, assess the climate change and expand it to other regions and municipalities from the next year. He believes this survey will certainly help to compare business conditions between municipalities, make them transparent and open for discussion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Magali Mander, Chief Technical Advisor of LPED project, said that LPED develop strategies, build capacities of the public, private enterprises for local and provincial economic development, promote innovation and entrepreneurship and exchange experience on development at local, provincial and federal level. The old LPED project was focused on Sudur Paschim and Karnali provinces but now has been extended to Lumbini province as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13557', 'image' => '20210813114400_AdobeStock_137079042-compressor-696x464.jpeg', 'article_date' => '2021-08-13 11:43:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13811', 'article_category_id' => '1', 'title' => 'Former Minister Poudel Argues White Paper is just a Document Criticizing the Previous Government', 'sub_title' => '', 'summary' => 'August 13: Former finance minister Bishnu Poudel has termed the white paper presented by the government in parliament as a baseless document aimed at tarnishing the image of the former government led by KP Sharma Oli.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: Former finance minister Bishnu Poudel has termed the white paper presented by the government in parliament as a baseless document aimed at tarnishing the image of the former government led by KP Sharma Oli.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking in the parliament on Thursday, former minister Poudel accused the government of bringing the whitepaper only for objecting to the previous government’s works. “Although the white paper presents information about the current economic condition of the country, it is more focused on criticizing the works of the previous government,” said Poudel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government has no right to object to the reports prepared by the Financial Comptroller General’s Office, Nepal Rastra Bank, and Central Bureau of Statistics, among others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Poudel argued that the white paper has presented facts and conclusion in different ways. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He further said that the whitepaper presented in parliament a few days ago by Finance Minister Janardan Sharma has largely ignored the adverse impacts of COVID-19 on the national economy. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Due to COVID-19, production and income declined but average spending remained stable. But this fact was neglected in the whitepaper, said Poudel. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He also took time to praise the programmes of the previous government such as the prime minister employment programme, social security, child security grant, workplace training to workers, accidental insurance in group to workers, and the progress on national pride projects including Melamchi Water Supply Project, Upper Tamakoshi Hydropower, among others. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13556', 'image' => '20210813104740_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2021-08-13 10:46:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13810', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs IRD Officials to Step Up Revenue Collection', 'sub_title' => '', 'summary' => 'August 13: Finance Minister Janardan Sharma informed that the government has decided to collect internal revenue double of its target and has directed concerned officials to prepare their work plan accordingly.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: Finance Minister Janardan Sharma informed that the government has decided to collect internal revenue double of its target and has directed concerned officials to prepare their work plan accordingly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">During an interaction with officials of the Inland Revenue Department (IRD) on Thursday (August 12), Minister Sharma stated that the present work style is not enough to contribute to the country's development and therefore stressed on new work plan to boost revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">“I will not tolerate the attitude that the current performance is enough and this is the way things are done,” said Minister Sharma, adding, “Think with a clear mind and you will find ways to boost revenue collection.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma assured the officials of assistance in terms of human resources, technology and training so that they could meet the revenue target. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the minister asked IRD officials how they could build a culture where taxpayers were attracted to tax pay instead of forcing them to pay tax. "The atmosphere for them should be created in such a way it encourages them to pay tax," he reiterated. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Minister, the time has come to evaluate the entire country's property. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, newly-appointed Finance Secretary Madhu Kumar Marasini informed that revenue is the lifeline of national economy. He added that revenue officials need to work extra hours as 10 to 5 duty would not be enough to meet the target. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary Marasini urged the revenue offices to go digital to make transactions cashless as far as possible. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13555', 'image' => '20210813102429_1628089106.jpg', 'article_date' => '2021-08-13 10:23:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13809', 'article_category_id' => '1', 'title' => 'Government Announces up to 20 units of Electricity Free of Cost to Deprived Families ', 'sub_title' => '', 'summary' => 'August 12: The government has decided not to levy electricity tariff on poor consumers for consuming up to 20 units of electricity per month. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">August 12: The government has decided not to levy electricity tariff on poor consumers for consuming up to 20 units of electricity per month. Minister for Energy, Water Resources, and Irrigation Pampha Bhusal informed the decision at a press conference on Wednesday (August 11). When Bhusal took charge of the ministerial portfolio, she had announced that no charge would be levied on poor consumers consuming up to 20 units of electricity. Shortly afterward, the declaration is in the process of implementation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The Board of Directors of Nepal Electricity Authority (NEA) has agreed not to charge the poor consumers as per the decision of the ministry. The tariff has also been proposed to the Electricity Regulatory Commission. After the approval from the commission, the target group customers will get up to 20 units of electricity free of cost every month. However, they will have to pay the demand fee. Minister Bhusal said that they would have to pay a monthly demand fee of Rs 30. Currently, customers consuming up to 10 units of electricity have been getting such facilities.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Minister Bhusal said that the decision aims to provide relief to the deprived families. It is estimated that about 2.5 million underprivileged families will receive relief from the decision. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The government is preparing to provide a 50 percent discount to farmers using surface water lift technology in agriculture when there is high demand and 80 percent at other times, which will help in the promotion of cash crops. Giving electricity tariff exemption will cost around Rs 700 million monthly, which will be borne by the NEA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The government is also planning to increase the use of electric vehicles, reduce electricity tariff and build 50 charging stations within this year, said Minister Bhusal. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13554', 'image' => '20210812032203_20190915092327_20190517010911_aaa.jpg', 'article_date' => '2021-08-12 15:20:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13808', 'article_category_id' => '1', 'title' => 'Food Prices Continue to Surge', 'sub_title' => 'Stakeholders Blame Weak Market Monitoring and Political Instability for the Unnatural Price Hike', 'summary' => 'August 12: Seizing the opportunity of the market which has become chaotic due to the Covid-19 pandemic, traders have continued to arbitrarily hike the prices of various food items such as edible oil, pulses, rice, tea leaves, Horlicks, honey and even chocolates. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 12: Seizing the opportunity of the market which has become chaotic due to the Covid-19 pandemic, traders have continued to arbitrarily hike the prices of various food items such as edible oil, pulses, rice, tea leaves, Horlicks, honey and even chocolates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Taking advantage of the weak market monitoring of the government and political instability, traders have repeatedly raised prices. According to the Nepal Retailers Association, the price of mustard oil, which was Rs 250 per liter three months ago, has gone up to Rs 370. Likewise, the price of soybean oil, which was Rs 220 per liter earlier, has now increased to Rs 255, while the price of sunflower oil has also increased by Rs 50 to Rs 280 per liter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Along with edible oil, the prices of pulses and rice have also increased. The price of red lentil, which was Rs 110 per kg at the time of the lockdown in April, has gone up to Rs 130 per kg.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The price of black lentil has gone up by Rs 20 per kg from Rs 160 to Rs 180 per kg. Similarly, according to the association, the price of each brand of rice has gone up from Rs 50 to Rs 100 per sack. It is said that some traders and mediators may have increased the prices on the pretext of political instability and prohibitory order.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Pabitra Bajracharya, former president of the association, said that the prices of tea leaves, Horlicks, honey and chocolate have also increased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to him, the price of 500 grams of Horlicks, which was Rs 370 till last April, has now increased to Rs 400. Honey, which costs Rs 600 per kg, is being sold at Rs 650 and Tokla tea that used to cost Rs 90 is being sold at Rs 130 to Rs 140. Similarly, the prices of all types of chocolates have increased up to Rs 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Furthermore, he said that at present, the price of every food item has gone up by 10 percent. Although there is no actual reason for increasing prices at this time, it is said that consumers are being affected by the continuous price hike. Stakeholders have said that weak market monitoring and political instability are the main reasons behind the unnatural rise in food prices in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Madhav Timilsina, chairman of the Consumer Rights Investigation Forum, said traders were taking advantage of the weak government mechanism to monitor and intervene in the market and the current political instability to increase the prices of all food items. He said that it was not relevant for the prices to increase even after the consumption has decreased as the places where more food is consumed like big hotels, restaurants and party palaces are closed. He argues that the government mechanism should be honest about this. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13553', 'image' => '20210812011140_Price Hike.jpg', 'article_date' => '2021-08-12 13:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13806', 'article_category_id' => '1', 'title' => ' Government Reappoints Kulman Ghising as Executive Director of NEA', 'sub_title' => '', 'summary' => '', 'content' => '<p><em>Newly-appointed Executive Director of NEA Kulman Ghising in this file photo. Photo: NBA</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 12: The government has appointed Kulman Ghising as the executive director of Nepal Electricity Authority (NEA), according to the state-owned national news agency RSS. It is the second time that Ghising has been appointed as the executive director of the authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghising had retired from the post of NEA executive director ten months ago after completion of his four-year-term. </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 Ministry of Energy, Water Resources and Irrigation, Ghising has been appointed for another four-year term. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, NEA’s outgoing executive director Hitendra Dev Shakya has been appointed as a full-term member with the special rank at the Water and Energy Commission, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Monday (August 9) took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The erstwhile KP Oli-led government had decided not to continue Ghising for a second term despite popular demand for his reappointment from all quarters.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry said the Sher Bahadur Deuba-led government decided to bring Ghising to the NEA for a second time considering his outstanding performance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghising is credited for liberating the NEA from 28 billion accumulated loss and taking the organisation to profit. He had been able to completely free the people of the hours-long power outage problem while he was in office. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13552', 'image' => '20210812100140_intr1 (Copy) (1).jpg', 'article_date' => '2021-08-12 09:59:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13807', 'article_category_id' => '1', 'title' => ' ADB to Provide Concessional Loan to Purchase anti-COVID-19 Vaccine ', 'sub_title' => '', 'summary' => 'August 12: The Asian Development Bank has reached an understanding with the Government of Nepal to provide concessional loan of Rs 19.58 billion to procure anti-Covid-19 vaccines.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 12: <span style="font-family:"Arial Unicode MS","sans-serif"">The Asian Development Bank has reached an understanding with the Government of Nepal to provide concessional loan of Rs 19.58 billion to procure anti-Covid-19 vaccines. </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"">ADB country representative Arnaud Cauchois and Finance Secretary Madhu Marasini signed the agreement on behalf of their respective organisations amid a function organized at Finance Ministry on Wednesday (August 11). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The government is expected to purchase 15 million doses of vaccines with the assistance from ADB. As a result, as many as 6.8 million people would benefit with the ADB’s support, the bank 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 Unicode MS","sans-serif"">On the occasion, Secretary Marasini expressed that that ADB’s assistance would be a milestone to ensure vaccines for the people so that the country's economic activities could return back on track. Vaccination is the top priority of the government, he added. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, ADB country representative Cauchois said that the ADB’s assistance to Nepal would help save lives and restore economic and social activities. He assured that such help would continue in the days ahead. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13551', 'image' => '20210812100755_20210505032710_20200430022205_asian-development-bank-ru.jpg', 'article_date' => '2021-08-12 10:06:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '13821', 'article_category_id' => '1', 'title' => 'Traders Call for Easing Trade through Tatopani Customs', 'sub_title' => '', 'summary' => 'August 15: Traders have demanded to ease trade through the Tatopani customs between Nepal and China. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 15: Traders have demanded to ease trade through the Tatopani customs between Nepal and China. Handing over a memorandum to Prime Minister Sher Bahadur Deuba on Saturday, a delegation from the Sindhupalchok Chamber of Commerce and Industry and the Nepal Trans Himalayan Border Commerce Association demanded that the government take initiative for smooth supply of goods via the checkpoint.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">This checkpoint has been operating erratically since the catastrophic earthquake of 2015. Traders have requested government intervention in resolving their problems stating that many the district has faced many calamities and the unstable operation of the customs has affected the traders, businessmen and workers alike.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Bed Bahadur Shrestha, the former president of Sindhupalchok Chamber of Commerce and Industry, argued that the customs that has been significantly contributing to the revenue collection should be fully operational.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Hundreds of people have lost their livelihoods after the border stopped full-scale operation. Ashok Kumar Shrestha, president of the Nepal Trans Himalayan Border Commerce Association, said that the checkpoint should be fully operational as the workers working at the checkpoint are highly affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Trans Himalayan Border Commerce Association have requested Prime Minister Deuba to take initiative for trade facilitation and disaster mitigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Jure landslide of 2014, the catastrophic earthquake of 2015, Bhotekoshi flood of 2016, landslides in Jambu, Ghumthang, and Lidi last year and the recent floods in Melamchi and Indravati rivers have caused massive damage to properties and lives in Sindhupalchok.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Stating that Kodari, Tatopani, Chaku, Barhabise, Lamosanghu, Khadichaur, Balefi, Jalbire, Dhande, Sukute, Dhandkhola, Melamchi, Panchpokhari Thangpal and Helambu are also at risk of floods and landslides, president of Sindhupalchok Chamber of Commerce and Industry Hom Bahadur Basnet said that they have requested the Prime Minister to take initiative for the resettlement of people living in risky areas after conducting proper study.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13566', 'image' => '20210815031841_20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2021-08-15 15:17:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13820', 'article_category_id' => '1', 'title' => 'Finance Minister Urges Private Sector to Build Production-Oriented Economy', 'sub_title' => '', 'summary' => 'August 15: Finance Minister Janardan Sharma has urged the private sector to help the government in transforming the informal economy into a formal one. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 15: Finance Minister Janardan Sharma has urged the private sector to help the government in transforming the informal economy into a formal one. He also asked the private sector to make efforts in building a production-oriented economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Addressing the second annual general meeting of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) on August 14, he stressed on the need to move towards replacing imports by increasing production.</span></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 essential to increase production to build an export oriented economy, stated the minister. Sharma said the government will take steps to support the private sector affected by the pandemic. He said that an attempt has been made to address it through the monetary policy introduced recently.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">To make the nation self-reliant, Minister Sharma said that the government is ready to reform policies that the private sector has been demanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Minister Sharma also stressed on the need to create a conducive environment for foreign investment by assessing the volume of national wealth and building the overall capital of the nation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Speaking at the virtual program, Shekhar Golchha, President of FNCCI, said that the monetary policy announced by the government has paid special attention to the post-Covid revival and expansion of small and medium enterprises. He said the government's relief plan was not as straightforward as in developed countries, but is supportive enough.</span></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 Federation has prepared a vision paper titled ‘National Economic Transformation 2030’ with the expectation of raising capital equivalent to $150 billion in 10 years and providing direct employment to 2.2 million people. Golchha informed that ten priority areas and 100 initiatives have been recognized to achieve this target. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13565', 'image' => '20210815030311_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-08-15 15:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13819', 'article_category_id' => '1', 'title' => ' Loan Payback Time Limit Extended for Restoring Tourism Business ', 'sub_title' => '', 'summary' => 'August 15: The Nepal Rastra Bank (NRB) has extended the time limit for loan disbursed by the banks and financial institutions (BFIs) to restore the tourism related businesses affected by the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The Nepal Rastra Bank (NRB) has extended the time limit for loan disbursed by the banks and financial institutions (BFIs) to restore the tourism related businesses affected by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The monetary policy for the fiscal year 2021/22 unveiled by the central bank of the country has a provision that BFIs would evaluate the loans to be provided to the tourism and film industries as well as party palaces, public transportation and education sectors that have been worst affected by COVID-19 pandemic and will reschedule it by mid-January next year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Governor of Nepal Rastra Bank Mahaprasad Adhikari unveiled the monetary policy for the current fiscal year on Friday giving continuatity to loan to restore the business ravaged by the COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Accounts of the interests for the loan obtained by the hardest hit sectors would be maintained separately until the end of next fiscal year, especially the hotels, travel and trekking as well as aviation sectors in the light of international travel suffering a massive setback. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, additional fine will be waived on the loan obtained by those sectors. Entrepreneurs would pay back their loan in four installments since the period of time to pay back the interest and principal amount has been extended by a year more. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13564', 'image' => '20210815080310_20180513122353_tourism.jpg', 'article_date' => '2021-08-15 08:02:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13818', 'article_category_id' => '1', 'title' => 'Central Bank Preparing to Set Up National Payment Switch ', 'sub_title' => '', 'summary' => 'August 15: The Nepal Rastra Bank is planning to set up a national payment switch in a bid to promote a cashless transaction.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The Nepal Rastra Bank is planning to set up a national payment switch in a bid to promote a cashless transaction. </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"">Unveiling the monetary policy on Friday, the central bank said it aims to observe the fiscal year 2022/23 as the year of promotion of electronic payment and transaction. To achieve this goal, the central bank is doing the needful for infrastructural development and creating awareness in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The policy has emphasised the use of country's own payment card while establishing interconnectivity among electronic payment gateways and clearing and recording digital payment gateways. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Special re-loans would be provided to payment service provider or payment system operators and communication service providers for the development and promotion of the whole electronic payment system, the central bank said. </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 central bank will make necessary arrangements for facilitating the payment of revenue and all sorts of payments through banking and digital system. Arrangements will be made for beneficiaries entitled to social security allowances to receive the allowances digitally from the banks dealing with government transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deadline for payment service providers and payment system operators to meet minimum transactions and number of customers has been extended until mid-July, 2022 due to the ongoing COVID-19. Similarly, a digital loan guideline will be prepared and implemented for facilitating banks and financial institutions to provide their services like loan application and approval digitally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The policy aims to carry out a feasibility study of digital currencies in the country in the context when many foreign countries have adopted it. </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"">Arrangements would be made for anyone to apply for citizens saving bonds and foreign employment bonds digitally and a necessary study of the use of cloud infrastructure would be carried out. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13563', 'image' => '20210815075557_central bank.jpg', 'article_date' => '2021-08-15 07:55:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13817', 'article_category_id' => '1', 'title' => 'Nepal to get 4 Million doses of Moderna Vaccines through COVAX', 'sub_title' => '', 'summary' => 'August 15: Nepal has become the second country globally to have completed agreements with GAVI to procure 4 million doses of Moderna vaccines, financed by the World Bank, through the COVAX cost-share option. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 15: Nepal has become the second country globally to have completed agreements with GAVI to procure 4 million doses of Moderna vaccines, financed by the World Bank, through the COVAX cost-share option. This will diversify and strengthen the country’s COVID-19 vaccine portfolio, the World Bank said in a statement issued on August 13.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“Nepal is an early mover in utilizing the COVAX cost-share scheme, and I am pleased to note that we have finalized an arrangement, despite very challenging circumstances, to bring safe and highly effective vaccines to Nepal,” the statement quoted Minister of State for Health and Population Umesh Shrestha as saying.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“Moderna vaccines have helped expand options for vaccinating Nepalis above 12 years of age and fast-track Nepal’s progress towards a safer post-COVID world.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the statement, the delivery of these vaccines is expected to start by March 2022 and will contribute to Nepal’s goal to vaccinate at least 72 percent of its population, as well as children of 12-17 age group for whom the Moderna vaccine is deemed safe and effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“We are honored to support the people and Government of Nepal, along with our development partners, by financing the purchase of safe and effective vaccines through the COVAX facility,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “This is a key element of our overall COVID response by helping to meet emergency health needs and strengthening the healthcare and vaccine delivery system.”</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 World Bank has made available $104 million to support the Government of Nepal’s health response to the pandemic, with $67.5 million earmarked to purchase and deploy COVID-19 vaccines. Last month, 1,000 oxygen concentrators were brought in through the project while seven oxygen generation plants are being established, one in each province. These will help strengthen health preparedness in the event of future waves of the pandemic.</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' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13562', 'image' => '20210815074700_20191015114123_aaaa.jpg', 'article_date' => '2021-08-15 07:45:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13816', 'article_category_id' => '1', 'title' => '10 Key Provisions in Monetary Policy for Current Fiscal Year ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has introduced the Monetary Policy for the current fiscal year (2021/22).', 'content' => '<p>August 14: Nepal Rastra Bank (NRB) has introduced the Monetary Policy for the current fiscal year (2021/22).<br /> The monetary policy unveiled by the NRB Governor Maha Prasad Adhikari on Friday aims at reining credit growth of the banking sector toward private sector, encourage bank and financial institutions (BFIs) for merger and acquisition and continue support or relief to businesses or borrowers hit by the Covid-19, among others.<br /> The monetary policy for the current fiscal year was delayed by a few weeks as the newly appointed Minister for Finance Janardan Sharma reportedly asked the central bank to wait for some time.<br /> While keeping major policy rates like cash reserve ratio (CRR), statutory liquidity ratio (SLR) and bank rate unchanged, the central bank in its monetary policy projected the private sector credit to grow by 19 percent compared to 20 percent in the last fiscal year (2019/20). Average annual inflation will be tamed at 6.5 percent in the current fiscal year, according to the monetary policy.<br /> In line with the demand of banks and financial institutions, the central bank announced that it will now ditch credit to core capital cum deposit ratio requirement of 85 percent to adopt credit to deposit ratio requirement. According to the new announcement, BFIs will be required to maintain 90 percent of CD ratio by mid July next year.<br /> Not only commercial banks, development banks, finance companies and wholesale lending microfinance companies will also be required to float debentures worth 25 percent of their paid-up capital.<br /> In order to encourage Nepali workers to adopt formal channels to send their money and save their earnings, the central bank said that one percentage point higher interest will be provided on their deposits if sent through banking channels.<br /> Consortium financing limit for bank and financial institutions has been increased to Rs 2 billion for Rs 1 billion.<br /> The central bank also announced various relief measures including the continuity of some of the provisions introduced in the monetary policy for the last fiscal year.<br /> Similarly, NRB announced some policy relaxations for banks and financial institutions to go for merger and acquisition. According to the monetary policy, the central bank will provide one year extension for BFIs to meet targeted sector lending, waiver of Cash Reserve Ratio requirement by 0.5 percentage point and one percentage point waiver on SLR requirement for one year, cooling period for board directors and CEOs, 5 percentage point higher limit on individual customer deposit and one percentage point higher interest spread rate, among other facilities, for those who complete their merger and acquisition and start joint operation in the current fiscal year.<br /> <em><strong>Here are the 10 major highlights of the monetary policy:</strong></em><br /> 1- Inflation target at 6.5 percent; Private sector credit projected to expand by 19 percent<br /> 2- CCD ratio requirement of 85 percent scrapped to adopt 90 percent CD ratio requirement<br /> 3- Continuity of supports for borrowers hit by pandemic including refinance facility, business continuity loan, rescheduling and restructuring of loans<br /> 4- Limit on loans against share pledges—Rs 40 million from one bank or financial institution and Rs 120 million in total<br /> 5- Rs 1.5 million business loans under deprived sector for those people who lost jobs in tourism sector due to Covid-19<br /> 6- BFIs would not be allowed to charge more than 2 percent premium on base rate for business loans below Rs 10 million<br /> 7- Feasibility study will be carried out on central bank digital currency<br /> 8- Digital lending framework will be formulated to facilitate BFIs for online lending services<br /> 9- Deferral of implementation of Counter Cyclical Buffer measures until mid July next year<br /> 10- Review of Base Rate formula<br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-14', 'modified' => '2021-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '13561', 'image' => '20210814034144_1628862557.Mahaprasad-Adhikari-1.jpg', 'article_date' => '2021-08-14 15:38:08', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13815', 'article_category_id' => '1', 'title' => 'Commercial Farming of Avocado Flourishing in Bhojpur', 'sub_title' => '', 'summary' => 'August 13: Commercial farming of avocado has been flourishing in Bhojpur.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 13: Commercial farming of avocado has been flourishing in Bhojpur. Prem Kumar Rai of Arun rural municipality – 6 Jarayotar of the district had started commercial farming of avocado in Bhojpur five years ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Rai, who started his business by bringing 50 saplings of avocado from neighboring district Dhankuta, now has 300 saplings. He said that he started the business after learning about the potential market of avocado fruit. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Avocados are better sold and distributed abroad than in Nepal," said Rai, "In recent years, the number of foreigners coming to Nepal has increased and therefore the avocado are also being sold in Nepal."</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He started cultivating avocado after learning that a good income can be earned for a long time with less effort.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Rai has started commercial farming of avocado in an area of 300 ropanis in Arun rural municipality – 6, Jarayotar. Having lived abroad for about five years, he started commercial avocado farming with the aim of doing something in the country. According to him, avocados in Nepal are sold for anything between Rs 300 to Rs 500 per kg.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that he has a target of earning up to Rs 5 million annually in the next few years. The Agricultural Knowledge Center and the local level have been providing financial and technical assistance to the farmers along with the distribution of avocado saplings. </span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13560', 'image' => '20210813023324_Growing-Avocados..jpg', 'article_date' => '2021-08-13 14:32:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13813', 'article_category_id' => '1', 'title' => 'Bagmati Province gives Continuity to Collateral-free Concessional Loan ', 'sub_title' => '', 'summary' => 'August 13: The Bagmati State Government has given continuity to the concessional loan management programme for production and job creation in the current Fiscal Year 2078/79 BS.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">August 13: The Bagmati State Government has given continuity to the concessional loan management programme for production and job creation in the current Fiscal Year 2078/79 BS. According to the Ministry of Financial Affairs and Planning under the province, a total of Rs 2 billion has been allocated for the concessional loan in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The state government had started the programme from the last fiscal year 2077/78. Minister for Financial Affairs and Planning Kailash Prasad Dhungel informed that the concessional loan investment management programme brought to support the livelihood of the general public has been continued and will be carried out more effectively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As per the programme, loans will be provided for agribusiness-related production, processing, storage and marketing, industry business, tourism promotion, women entrepreneurship, marginalized community business, and waste management. A loan up to a maximum of Rs 1 million will be disbursed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The concessional loan investment program has been given continuity this year for production and job creation targeting young entrepreneurs. The state government will provide loans to young entrepreneurs at a concessional rate of 3 percent through Agriculture Development Bank Limited in all 13 districts. A concessional loan will be provided to a firm, company, or institution run by a person in the age group of 21 to 40 years or a group formed by that age group.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Planning Budget and Programme Division of the Ministry of Financial Affairs and Planning, there is a programme to provide loans up to Rs 2 million at an interest rate of 3 percent per annum for a maximum of five years to a young entrepreneur or a group of youths for various businesses.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry has a strategy to invest concessional loans in different sectors like agri-business, industry, tourism promotion, trade, forest and environment, and women and Dalit security development.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the current fiscal year, the ministry has set a target of providing Rs 478.96 million to 1,600 farmers in the agri-business sector and Rs 200,000 for the forest and environment sector. The ministry plans to continue the loan investment programme through 65 branch offices of Agriculture Development Bank Limited and 251 branch offices of Sana Kisan Development Microfinance in Bagmati Province.</span></span></span></span></p> <p><br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13558', 'image' => '20210813022638_20210721120621_20210605063901_Business Bank Loans.jpg', 'article_date' => '2021-08-13 14:25:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13812', 'article_category_id' => '1', 'title' => 'Revenue of Business Enterprises Declines due to the Impact of COVID-19: Survey', 'sub_title' => '', 'summary' => 'August 13: Forty five percent of the business enterprises witnessed a decline in revenue collection by 75 percent due to the impact of Covid-19 pandemic, according to the Business Climate Survey 2020/21.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">August 13: Forty five percent of the business enterprises witnessed a decline in revenue collection by 75 percent due to the impact of Covid-19 pandemic, according to the Business Climate Survey 2020/21. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The survey revealed that 32 percent of the enterprises saw a decline in revenue between 50 to 70 percent, while 15 percent of business stated their revenue had declined by 25 to 50 percent and only one percent of the enterprises had a little increase in revenue.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The Business Climate Survey is conducted by Local and Provincial Economic Development Project (LPED) which is a joint initiative of the Ministry of Land Management, Cooperatives and Poverty Alleviation and GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). These results were made public in a program titled 'National Dissemination Workshop of the Business Climate Survey 2020/21 organized by the Ministry of Land Management, Cooperative and Poverty Alleviation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">LPED Project is currently running in eleven municipalities of Lumbini, Sudur Paschim and Karnali provinces. It aims to improve framework conditions for economic development in these municipalities. Business Climate Survey is a part of the LPED project conducted through telephone and virtual medium. The survey also found out that 50.95 percent of the enterprises were of micro in size, 4.4 percent were small and 0.3 percent and 0.1 percent were medium and large respectively. Among all the enterprises 20 percent were led by women.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">It has monitored competitiveness of municipalities in attaining investment and attracting it, employment rate, climate resilience, measured quality of economic governance and COVID 19 impact on business performance. Municipalities were also awarded for their better performances in various indices.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Butwal Sub Metropolitan city scored highest points in the local economic performance index of the Business Climate Survey 2020/21.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Speaking at the program, Head of Development and Economic Cooperation at German Embassy, Stephen Russek said business climate survey is a tool for local and regional economic development which will enable decision makers, politicians to take informed decision for economic growth. The results shall be a source for municipalities to plan for developments and improve economic governance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Russek, Business Climate Survey will include more indicators, assess the climate change and expand it to other regions and municipalities from the next year. He believes this survey will certainly help to compare business conditions between municipalities, make them transparent and open for discussion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Magali Mander, Chief Technical Advisor of LPED project, said that LPED develop strategies, build capacities of the public, private enterprises for local and provincial economic development, promote innovation and entrepreneurship and exchange experience on development at local, provincial and federal level. The old LPED project was focused on Sudur Paschim and Karnali provinces but now has been extended to Lumbini province as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13557', 'image' => '20210813114400_AdobeStock_137079042-compressor-696x464.jpeg', 'article_date' => '2021-08-13 11:43:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13811', 'article_category_id' => '1', 'title' => 'Former Minister Poudel Argues White Paper is just a Document Criticizing the Previous Government', 'sub_title' => '', 'summary' => 'August 13: Former finance minister Bishnu Poudel has termed the white paper presented by the government in parliament as a baseless document aimed at tarnishing the image of the former government led by KP Sharma Oli.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: Former finance minister Bishnu Poudel has termed the white paper presented by the government in parliament as a baseless document aimed at tarnishing the image of the former government led by KP Sharma Oli.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking in the parliament on Thursday, former minister Poudel accused the government of bringing the whitepaper only for objecting to the previous government’s works. “Although the white paper presents information about the current economic condition of the country, it is more focused on criticizing the works of the previous government,” said Poudel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government has no right to object to the reports prepared by the Financial Comptroller General’s Office, Nepal Rastra Bank, and Central Bureau of Statistics, among others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Poudel argued that the white paper has presented facts and conclusion in different ways. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He further said that the whitepaper presented in parliament a few days ago by Finance Minister Janardan Sharma has largely ignored the adverse impacts of COVID-19 on the national economy. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Due to COVID-19, production and income declined but average spending remained stable. But this fact was neglected in the whitepaper, said Poudel. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He also took time to praise the programmes of the previous government such as the prime minister employment programme, social security, child security grant, workplace training to workers, accidental insurance in group to workers, and the progress on national pride projects including Melamchi Water Supply Project, Upper Tamakoshi Hydropower, among others. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13556', 'image' => '20210813104740_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2021-08-13 10:46:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13810', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs IRD Officials to Step Up Revenue Collection', 'sub_title' => '', 'summary' => 'August 13: Finance Minister Janardan Sharma informed that the government has decided to collect internal revenue double of its target and has directed concerned officials to prepare their work plan accordingly.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: Finance Minister Janardan Sharma informed that the government has decided to collect internal revenue double of its target and has directed concerned officials to prepare their work plan accordingly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">During an interaction with officials of the Inland Revenue Department (IRD) on Thursday (August 12), Minister Sharma stated that the present work style is not enough to contribute to the country's development and therefore stressed on new work plan to boost revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">“I will not tolerate the attitude that the current performance is enough and this is the way things are done,” said Minister Sharma, adding, “Think with a clear mind and you will find ways to boost revenue collection.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma assured the officials of assistance in terms of human resources, technology and training so that they could meet the revenue target. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the minister asked IRD officials how they could build a culture where taxpayers were attracted to tax pay instead of forcing them to pay tax. "The atmosphere for them should be created in such a way it encourages them to pay tax," he reiterated. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Minister, the time has come to evaluate the entire country's property. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, newly-appointed Finance Secretary Madhu Kumar Marasini informed that revenue is the lifeline of national economy. He added that revenue officials need to work extra hours as 10 to 5 duty would not be enough to meet the target. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary Marasini urged the revenue offices to go digital to make transactions cashless as far as possible. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13555', 'image' => '20210813102429_1628089106.jpg', 'article_date' => '2021-08-13 10:23:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13809', 'article_category_id' => '1', 'title' => 'Government Announces up to 20 units of Electricity Free of Cost to Deprived Families ', 'sub_title' => '', 'summary' => 'August 12: The government has decided not to levy electricity tariff on poor consumers for consuming up to 20 units of electricity per month. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">August 12: The government has decided not to levy electricity tariff on poor consumers for consuming up to 20 units of electricity per month. Minister for Energy, Water Resources, and Irrigation Pampha Bhusal informed the decision at a press conference on Wednesday (August 11). When Bhusal took charge of the ministerial portfolio, she had announced that no charge would be levied on poor consumers consuming up to 20 units of electricity. Shortly afterward, the declaration is in the process of implementation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The Board of Directors of Nepal Electricity Authority (NEA) has agreed not to charge the poor consumers as per the decision of the ministry. The tariff has also been proposed to the Electricity Regulatory Commission. After the approval from the commission, the target group customers will get up to 20 units of electricity free of cost every month. However, they will have to pay the demand fee. Minister Bhusal said that they would have to pay a monthly demand fee of Rs 30. Currently, customers consuming up to 10 units of electricity have been getting such facilities.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Minister Bhusal said that the decision aims to provide relief to the deprived families. It is estimated that about 2.5 million underprivileged families will receive relief from the decision. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The government is preparing to provide a 50 percent discount to farmers using surface water lift technology in agriculture when there is high demand and 80 percent at other times, which will help in the promotion of cash crops. Giving electricity tariff exemption will cost around Rs 700 million monthly, which will be borne by the NEA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The government is also planning to increase the use of electric vehicles, reduce electricity tariff and build 50 charging stations within this year, said Minister Bhusal. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13554', 'image' => '20210812032203_20190915092327_20190517010911_aaa.jpg', 'article_date' => '2021-08-12 15:20:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13808', 'article_category_id' => '1', 'title' => 'Food Prices Continue to Surge', 'sub_title' => 'Stakeholders Blame Weak Market Monitoring and Political Instability for the Unnatural Price Hike', 'summary' => 'August 12: Seizing the opportunity of the market which has become chaotic due to the Covid-19 pandemic, traders have continued to arbitrarily hike the prices of various food items such as edible oil, pulses, rice, tea leaves, Horlicks, honey and even chocolates. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 12: Seizing the opportunity of the market which has become chaotic due to the Covid-19 pandemic, traders have continued to arbitrarily hike the prices of various food items such as edible oil, pulses, rice, tea leaves, Horlicks, honey and even chocolates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Taking advantage of the weak market monitoring of the government and political instability, traders have repeatedly raised prices. According to the Nepal Retailers Association, the price of mustard oil, which was Rs 250 per liter three months ago, has gone up to Rs 370. Likewise, the price of soybean oil, which was Rs 220 per liter earlier, has now increased to Rs 255, while the price of sunflower oil has also increased by Rs 50 to Rs 280 per liter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Along with edible oil, the prices of pulses and rice have also increased. The price of red lentil, which was Rs 110 per kg at the time of the lockdown in April, has gone up to Rs 130 per kg.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The price of black lentil has gone up by Rs 20 per kg from Rs 160 to Rs 180 per kg. Similarly, according to the association, the price of each brand of rice has gone up from Rs 50 to Rs 100 per sack. It is said that some traders and mediators may have increased the prices on the pretext of political instability and prohibitory order.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Pabitra Bajracharya, former president of the association, said that the prices of tea leaves, Horlicks, honey and chocolate have also increased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to him, the price of 500 grams of Horlicks, which was Rs 370 till last April, has now increased to Rs 400. Honey, which costs Rs 600 per kg, is being sold at Rs 650 and Tokla tea that used to cost Rs 90 is being sold at Rs 130 to Rs 140. Similarly, the prices of all types of chocolates have increased up to Rs 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Furthermore, he said that at present, the price of every food item has gone up by 10 percent. Although there is no actual reason for increasing prices at this time, it is said that consumers are being affected by the continuous price hike. Stakeholders have said that weak market monitoring and political instability are the main reasons behind the unnatural rise in food prices in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Madhav Timilsina, chairman of the Consumer Rights Investigation Forum, said traders were taking advantage of the weak government mechanism to monitor and intervene in the market and the current political instability to increase the prices of all food items. He said that it was not relevant for the prices to increase even after the consumption has decreased as the places where more food is consumed like big hotels, restaurants and party palaces are closed. He argues that the government mechanism should be honest about this. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13553', 'image' => '20210812011140_Price Hike.jpg', 'article_date' => '2021-08-12 13:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13806', 'article_category_id' => '1', 'title' => ' Government Reappoints Kulman Ghising as Executive Director of NEA', 'sub_title' => '', 'summary' => '', 'content' => '<p><em>Newly-appointed Executive Director of NEA Kulman Ghising in this file photo. Photo: NBA</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 12: The government has appointed Kulman Ghising as the executive director of Nepal Electricity Authority (NEA), according to the state-owned national news agency RSS. It is the second time that Ghising has been appointed as the executive director of the authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghising had retired from the post of NEA executive director ten months ago after completion of his four-year-term. </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 Ministry of Energy, Water Resources and Irrigation, Ghising has been appointed for another four-year term. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, NEA’s outgoing executive director Hitendra Dev Shakya has been appointed as a full-term member with the special rank at the Water and Energy Commission, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Monday (August 9) took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The erstwhile KP Oli-led government had decided not to continue Ghising for a second term despite popular demand for his reappointment from all quarters.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry said the Sher Bahadur Deuba-led government decided to bring Ghising to the NEA for a second time considering his outstanding performance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghising is credited for liberating the NEA from 28 billion accumulated loss and taking the organisation to profit. He had been able to completely free the people of the hours-long power outage problem while he was in office. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13552', 'image' => '20210812100140_intr1 (Copy) (1).jpg', 'article_date' => '2021-08-12 09:59:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13807', 'article_category_id' => '1', 'title' => ' ADB to Provide Concessional Loan to Purchase anti-COVID-19 Vaccine ', 'sub_title' => '', 'summary' => 'August 12: The Asian Development Bank has reached an understanding with the Government of Nepal to provide concessional loan of Rs 19.58 billion to procure anti-Covid-19 vaccines.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 12: <span style="font-family:"Arial Unicode MS","sans-serif"">The Asian Development Bank has reached an understanding with the Government of Nepal to provide concessional loan of Rs 19.58 billion to procure anti-Covid-19 vaccines. </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"">ADB country representative Arnaud Cauchois and Finance Secretary Madhu Marasini signed the agreement on behalf of their respective organisations amid a function organized at Finance Ministry on Wednesday (August 11). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The government is expected to purchase 15 million doses of vaccines with the assistance from ADB. As a result, as many as 6.8 million people would benefit with the ADB’s support, the bank 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 Unicode MS","sans-serif"">On the occasion, Secretary Marasini expressed that that ADB’s assistance would be a milestone to ensure vaccines for the people so that the country's economic activities could return back on track. Vaccination is the top priority of the government, he added. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, ADB country representative Cauchois said that the ADB’s assistance to Nepal would help save lives and restore economic and social activities. He assured that such help would continue in the days ahead. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13551', 'image' => '20210812100755_20210505032710_20200430022205_asian-development-bank-ru.jpg', 'article_date' => '2021-08-12 10:06:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 15: Traders have demanded to ease trade through the Tatopani customs between Nepal and China. Handing over a memorandum to Prime Minister Sher Bahadur Deuba on Saturday, a delegation from the Sindhupalchok Chamber of Commerce and Industry and the Nepal Trans Himalayan Border Commerce Association demanded that the government take initiative for smooth supply of goods via the checkpoint.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">This checkpoint has been operating erratically since the catastrophic earthquake of 2015. Traders have requested government intervention in resolving their problems stating that many the district has faced many calamities and the unstable operation of the customs has affected the traders, businessmen and workers alike.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Bed Bahadur Shrestha, the former president of Sindhupalchok Chamber of Commerce and Industry, argued that the customs that has been significantly contributing to the revenue collection should be fully operational.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Hundreds of people have lost their livelihoods after the border stopped full-scale operation. Ashok Kumar Shrestha, president of the Nepal Trans Himalayan Border Commerce Association, said that the checkpoint should be fully operational as the workers working at the checkpoint are highly affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Trans Himalayan Border Commerce Association have requested Prime Minister Deuba to take initiative for trade facilitation and disaster mitigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Jure landslide of 2014, the catastrophic earthquake of 2015, Bhotekoshi flood of 2016, landslides in Jambu, Ghumthang, and Lidi last year and the recent floods in Melamchi and Indravati rivers have caused massive damage to properties and lives in Sindhupalchok.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Stating that Kodari, Tatopani, Chaku, Barhabise, Lamosanghu, Khadichaur, Balefi, Jalbire, Dhande, Sukute, Dhandkhola, Melamchi, Panchpokhari Thangpal and Helambu are also at risk of floods and landslides, president of Sindhupalchok Chamber of Commerce and Industry Hom Bahadur Basnet said that they have requested the Prime Minister to take initiative for the resettlement of people living in risky areas after conducting proper study.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13566', 'image' => '20210815031841_20210518054607_20190510014655_Clipboard04-2.jpg', 'article_date' => '2021-08-15 15:17:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13820', 'article_category_id' => '1', 'title' => 'Finance Minister Urges Private Sector to Build Production-Oriented Economy', 'sub_title' => '', 'summary' => 'August 15: Finance Minister Janardan Sharma has urged the private sector to help the government in transforming the informal economy into a formal one. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 15: Finance Minister Janardan Sharma has urged the private sector to help the government in transforming the informal economy into a formal one. He also asked the private sector to make efforts in building a production-oriented economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Addressing the second annual general meeting of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) on August 14, he stressed on the need to move towards replacing imports by increasing production.</span></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 essential to increase production to build an export oriented economy, stated the minister. Sharma said the government will take steps to support the private sector affected by the pandemic. He said that an attempt has been made to address it through the monetary policy introduced recently.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">To make the nation self-reliant, Minister Sharma said that the government is ready to reform policies that the private sector has been demanding.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Minister Sharma also stressed on the need to create a conducive environment for foreign investment by assessing the volume of national wealth and building the overall capital of the nation.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Speaking at the virtual program, Shekhar Golchha, President of FNCCI, said that the monetary policy announced by the government has paid special attention to the post-Covid revival and expansion of small and medium enterprises. He said the government's relief plan was not as straightforward as in developed countries, but is supportive enough.</span></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 Federation has prepared a vision paper titled ‘National Economic Transformation 2030’ with the expectation of raising capital equivalent to $150 billion in 10 years and providing direct employment to 2.2 million people. Golchha informed that ten priority areas and 100 initiatives have been recognized to achieve this target. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13565', 'image' => '20210815030311_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-08-15 15:02:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13819', 'article_category_id' => '1', 'title' => ' Loan Payback Time Limit Extended for Restoring Tourism Business ', 'sub_title' => '', 'summary' => 'August 15: The Nepal Rastra Bank (NRB) has extended the time limit for loan disbursed by the banks and financial institutions (BFIs) to restore the tourism related businesses affected by the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The Nepal Rastra Bank (NRB) has extended the time limit for loan disbursed by the banks and financial institutions (BFIs) to restore the tourism related businesses affected by the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The monetary policy for the fiscal year 2021/22 unveiled by the central bank of the country has a provision that BFIs would evaluate the loans to be provided to the tourism and film industries as well as party palaces, public transportation and education sectors that have been worst affected by COVID-19 pandemic and will reschedule it by mid-January next year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Governor of Nepal Rastra Bank Mahaprasad Adhikari unveiled the monetary policy for the current fiscal year on Friday giving continuatity to loan to restore the business ravaged by the COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Accounts of the interests for the loan obtained by the hardest hit sectors would be maintained separately until the end of next fiscal year, especially the hotels, travel and trekking as well as aviation sectors in the light of international travel suffering a massive setback. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, additional fine will be waived on the loan obtained by those sectors. Entrepreneurs would pay back their loan in four installments since the period of time to pay back the interest and principal amount has been extended by a year more. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13564', 'image' => '20210815080310_20180513122353_tourism.jpg', 'article_date' => '2021-08-15 08:02:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13818', 'article_category_id' => '1', 'title' => 'Central Bank Preparing to Set Up National Payment Switch ', 'sub_title' => '', 'summary' => 'August 15: The Nepal Rastra Bank is planning to set up a national payment switch in a bid to promote a cashless transaction.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 15: The Nepal Rastra Bank is planning to set up a national payment switch in a bid to promote a cashless transaction. </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"">Unveiling the monetary policy on Friday, the central bank said it aims to observe the fiscal year 2022/23 as the year of promotion of electronic payment and transaction. To achieve this goal, the central bank is doing the needful for infrastructural development and creating awareness in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The policy has emphasised the use of country's own payment card while establishing interconnectivity among electronic payment gateways and clearing and recording digital payment gateways. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Special re-loans would be provided to payment service provider or payment system operators and communication service providers for the development and promotion of the whole electronic payment system, the central bank said. </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 central bank will make necessary arrangements for facilitating the payment of revenue and all sorts of payments through banking and digital system. Arrangements will be made for beneficiaries entitled to social security allowances to receive the allowances digitally from the banks dealing with government transactions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The deadline for payment service providers and payment system operators to meet minimum transactions and number of customers has been extended until mid-July, 2022 due to the ongoing COVID-19. Similarly, a digital loan guideline will be prepared and implemented for facilitating banks and financial institutions to provide their services like loan application and approval digitally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The policy aims to carry out a feasibility study of digital currencies in the country in the context when many foreign countries have adopted it. </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"">Arrangements would be made for anyone to apply for citizens saving bonds and foreign employment bonds digitally and a necessary study of the use of cloud infrastructure would be carried out. -- RSS </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13563', 'image' => '20210815075557_central bank.jpg', 'article_date' => '2021-08-15 07:55:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13817', 'article_category_id' => '1', 'title' => 'Nepal to get 4 Million doses of Moderna Vaccines through COVAX', 'sub_title' => '', 'summary' => 'August 15: Nepal has become the second country globally to have completed agreements with GAVI to procure 4 million doses of Moderna vaccines, financed by the World Bank, through the COVAX cost-share option. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">August 15: Nepal has become the second country globally to have completed agreements with GAVI to procure 4 million doses of Moderna vaccines, financed by the World Bank, through the COVAX cost-share option. This will diversify and strengthen the country’s COVID-19 vaccine portfolio, the World Bank said in a statement issued on August 13.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“Nepal is an early mover in utilizing the COVAX cost-share scheme, and I am pleased to note that we have finalized an arrangement, despite very challenging circumstances, to bring safe and highly effective vaccines to Nepal,” the statement quoted Minister of State for Health and Population Umesh Shrestha as saying.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“Moderna vaccines have helped expand options for vaccinating Nepalis above 12 years of age and fast-track Nepal’s progress towards a safer post-COVID world.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">According to the statement, the delivery of these vaccines is expected to start by March 2022 and will contribute to Nepal’s goal to vaccinate at least 72 percent of its population, as well as children of 12-17 age group for whom the Moderna vaccine is deemed safe and effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">“We are honored to support the people and Government of Nepal, along with our development partners, by financing the purchase of safe and effective vaccines through the COVAX facility,” said Faris Hadad-Zervos, World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka. “This is a key element of our overall COVID response by helping to meet emergency health needs and strengthening the healthcare and vaccine delivery system.”</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 World Bank has made available $104 million to support the Government of Nepal’s health response to the pandemic, with $67.5 million earmarked to purchase and deploy COVID-19 vaccines. Last month, 1,000 oxygen concentrators were brought in through the project while seven oxygen generation plants are being established, one in each province. These will help strengthen health preparedness in the event of future waves of the pandemic.</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' => '2021-08-15', 'modified' => '2021-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '13562', 'image' => '20210815074700_20191015114123_aaaa.jpg', 'article_date' => '2021-08-15 07:45:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13816', 'article_category_id' => '1', 'title' => '10 Key Provisions in Monetary Policy for Current Fiscal Year ', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has introduced the Monetary Policy for the current fiscal year (2021/22).', 'content' => '<p>August 14: Nepal Rastra Bank (NRB) has introduced the Monetary Policy for the current fiscal year (2021/22).<br /> The monetary policy unveiled by the NRB Governor Maha Prasad Adhikari on Friday aims at reining credit growth of the banking sector toward private sector, encourage bank and financial institutions (BFIs) for merger and acquisition and continue support or relief to businesses or borrowers hit by the Covid-19, among others.<br /> The monetary policy for the current fiscal year was delayed by a few weeks as the newly appointed Minister for Finance Janardan Sharma reportedly asked the central bank to wait for some time.<br /> While keeping major policy rates like cash reserve ratio (CRR), statutory liquidity ratio (SLR) and bank rate unchanged, the central bank in its monetary policy projected the private sector credit to grow by 19 percent compared to 20 percent in the last fiscal year (2019/20). Average annual inflation will be tamed at 6.5 percent in the current fiscal year, according to the monetary policy.<br /> In line with the demand of banks and financial institutions, the central bank announced that it will now ditch credit to core capital cum deposit ratio requirement of 85 percent to adopt credit to deposit ratio requirement. According to the new announcement, BFIs will be required to maintain 90 percent of CD ratio by mid July next year.<br /> Not only commercial banks, development banks, finance companies and wholesale lending microfinance companies will also be required to float debentures worth 25 percent of their paid-up capital.<br /> In order to encourage Nepali workers to adopt formal channels to send their money and save their earnings, the central bank said that one percentage point higher interest will be provided on their deposits if sent through banking channels.<br /> Consortium financing limit for bank and financial institutions has been increased to Rs 2 billion for Rs 1 billion.<br /> The central bank also announced various relief measures including the continuity of some of the provisions introduced in the monetary policy for the last fiscal year.<br /> Similarly, NRB announced some policy relaxations for banks and financial institutions to go for merger and acquisition. According to the monetary policy, the central bank will provide one year extension for BFIs to meet targeted sector lending, waiver of Cash Reserve Ratio requirement by 0.5 percentage point and one percentage point waiver on SLR requirement for one year, cooling period for board directors and CEOs, 5 percentage point higher limit on individual customer deposit and one percentage point higher interest spread rate, among other facilities, for those who complete their merger and acquisition and start joint operation in the current fiscal year.<br /> <em><strong>Here are the 10 major highlights of the monetary policy:</strong></em><br /> 1- Inflation target at 6.5 percent; Private sector credit projected to expand by 19 percent<br /> 2- CCD ratio requirement of 85 percent scrapped to adopt 90 percent CD ratio requirement<br /> 3- Continuity of supports for borrowers hit by pandemic including refinance facility, business continuity loan, rescheduling and restructuring of loans<br /> 4- Limit on loans against share pledges—Rs 40 million from one bank or financial institution and Rs 120 million in total<br /> 5- Rs 1.5 million business loans under deprived sector for those people who lost jobs in tourism sector due to Covid-19<br /> 6- BFIs would not be allowed to charge more than 2 percent premium on base rate for business loans below Rs 10 million<br /> 7- Feasibility study will be carried out on central bank digital currency<br /> 8- Digital lending framework will be formulated to facilitate BFIs for online lending services<br /> 9- Deferral of implementation of Counter Cyclical Buffer measures until mid July next year<br /> 10- Review of Base Rate formula<br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-14', 'modified' => '2021-08-14', 'keywords' => '', 'description' => '', 'sortorder' => '13561', 'image' => '20210814034144_1628862557.Mahaprasad-Adhikari-1.jpg', 'article_date' => '2021-08-14 15:38:08', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13815', 'article_category_id' => '1', 'title' => 'Commercial Farming of Avocado Flourishing in Bhojpur', 'sub_title' => '', 'summary' => 'August 13: Commercial farming of avocado has been flourishing in Bhojpur.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 13: Commercial farming of avocado has been flourishing in Bhojpur. Prem Kumar Rai of Arun rural municipality – 6 Jarayotar of the district had started commercial farming of avocado in Bhojpur five years ago.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Rai, who started his business by bringing 50 saplings of avocado from neighboring district Dhankuta, now has 300 saplings. He said that he started the business after learning about the potential market of avocado fruit. </span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Avocados are better sold and distributed abroad than in Nepal," said Rai, "In recent years, the number of foreigners coming to Nepal has increased and therefore the avocado are also being sold in Nepal."</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He started cultivating avocado after learning that a good income can be earned for a long time with less effort.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Rai has started commercial farming of avocado in an area of 300 ropanis in Arun rural municipality – 6, Jarayotar. Having lived abroad for about five years, he started commercial avocado farming with the aim of doing something in the country. According to him, avocados in Nepal are sold for anything between Rs 300 to Rs 500 per kg.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that he has a target of earning up to Rs 5 million annually in the next few years. The Agricultural Knowledge Center and the local level have been providing financial and technical assistance to the farmers along with the distribution of avocado saplings. </span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13560', 'image' => '20210813023324_Growing-Avocados..jpg', 'article_date' => '2021-08-13 14:32:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13813', 'article_category_id' => '1', 'title' => 'Bagmati Province gives Continuity to Collateral-free Concessional Loan ', 'sub_title' => '', 'summary' => 'August 13: The Bagmati State Government has given continuity to the concessional loan management programme for production and job creation in the current Fiscal Year 2078/79 BS.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">August 13: The Bagmati State Government has given continuity to the concessional loan management programme for production and job creation in the current Fiscal Year 2078/79 BS. According to the Ministry of Financial Affairs and Planning under the province, a total of Rs 2 billion has been allocated for the concessional loan in the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The state government had started the programme from the last fiscal year 2077/78. Minister for Financial Affairs and Planning Kailash Prasad Dhungel informed that the concessional loan investment management programme brought to support the livelihood of the general public has been continued and will be carried out more effectively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As per the programme, loans will be provided for agribusiness-related production, processing, storage and marketing, industry business, tourism promotion, women entrepreneurship, marginalized community business, and waste management. A loan up to a maximum of Rs 1 million will be disbursed. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The concessional loan investment program has been given continuity this year for production and job creation targeting young entrepreneurs. The state government will provide loans to young entrepreneurs at a concessional rate of 3 percent through Agriculture Development Bank Limited in all 13 districts. A concessional loan will be provided to a firm, company, or institution run by a person in the age group of 21 to 40 years or a group formed by that age group.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Planning Budget and Programme Division of the Ministry of Financial Affairs and Planning, there is a programme to provide loans up to Rs 2 million at an interest rate of 3 percent per annum for a maximum of five years to a young entrepreneur or a group of youths for various businesses.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry has a strategy to invest concessional loans in different sectors like agri-business, industry, tourism promotion, trade, forest and environment, and women and Dalit security development.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the current fiscal year, the ministry has set a target of providing Rs 478.96 million to 1,600 farmers in the agri-business sector and Rs 200,000 for the forest and environment sector. The ministry plans to continue the loan investment programme through 65 branch offices of Agriculture Development Bank Limited and 251 branch offices of Sana Kisan Development Microfinance in Bagmati Province.</span></span></span></span></p> <p><br /> <br /> <br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13558', 'image' => '20210813022638_20210721120621_20210605063901_Business Bank Loans.jpg', 'article_date' => '2021-08-13 14:25:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13812', 'article_category_id' => '1', 'title' => 'Revenue of Business Enterprises Declines due to the Impact of COVID-19: Survey', 'sub_title' => '', 'summary' => 'August 13: Forty five percent of the business enterprises witnessed a decline in revenue collection by 75 percent due to the impact of Covid-19 pandemic, according to the Business Climate Survey 2020/21.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">August 13: Forty five percent of the business enterprises witnessed a decline in revenue collection by 75 percent due to the impact of Covid-19 pandemic, according to the Business Climate Survey 2020/21. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The survey revealed that 32 percent of the enterprises saw a decline in revenue between 50 to 70 percent, while 15 percent of business stated their revenue had declined by 25 to 50 percent and only one percent of the enterprises had a little increase in revenue.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The Business Climate Survey is conducted by Local and Provincial Economic Development Project (LPED) which is a joint initiative of the Ministry of Land Management, Cooperatives and Poverty Alleviation and GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). These results were made public in a program titled 'National Dissemination Workshop of the Business Climate Survey 2020/21 organized by the Ministry of Land Management, Cooperative and Poverty Alleviation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">LPED Project is currently running in eleven municipalities of Lumbini, Sudur Paschim and Karnali provinces. It aims to improve framework conditions for economic development in these municipalities. Business Climate Survey is a part of the LPED project conducted through telephone and virtual medium. The survey also found out that 50.95 percent of the enterprises were of micro in size, 4.4 percent were small and 0.3 percent and 0.1 percent were medium and large respectively. Among all the enterprises 20 percent were led by women.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">It has monitored competitiveness of municipalities in attaining investment and attracting it, employment rate, climate resilience, measured quality of economic governance and COVID 19 impact on business performance. Municipalities were also awarded for their better performances in various indices.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Butwal Sub Metropolitan city scored highest points in the local economic performance index of the Business Climate Survey 2020/21.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Speaking at the program, Head of Development and Economic Cooperation at German Embassy, Stephen Russek said business climate survey is a tool for local and regional economic development which will enable decision makers, politicians to take informed decision for economic growth. The results shall be a source for municipalities to plan for developments and improve economic governance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Russek, Business Climate Survey will include more indicators, assess the climate change and expand it to other regions and municipalities from the next year. He believes this survey will certainly help to compare business conditions between municipalities, make them transparent and open for discussion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Magali Mander, Chief Technical Advisor of LPED project, said that LPED develop strategies, build capacities of the public, private enterprises for local and provincial economic development, promote innovation and entrepreneurship and exchange experience on development at local, provincial and federal level. The old LPED project was focused on Sudur Paschim and Karnali provinces but now has been extended to Lumbini province as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13557', 'image' => '20210813114400_AdobeStock_137079042-compressor-696x464.jpeg', 'article_date' => '2021-08-13 11:43:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13811', 'article_category_id' => '1', 'title' => 'Former Minister Poudel Argues White Paper is just a Document Criticizing the Previous Government', 'sub_title' => '', 'summary' => 'August 13: Former finance minister Bishnu Poudel has termed the white paper presented by the government in parliament as a baseless document aimed at tarnishing the image of the former government led by KP Sharma Oli.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: Former finance minister Bishnu Poudel has termed the white paper presented by the government in parliament as a baseless document aimed at tarnishing the image of the former government led by KP Sharma Oli.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Speaking in the parliament on Thursday, former minister Poudel accused the government of bringing the whitepaper only for objecting to the previous government’s works. “Although the white paper presents information about the current economic condition of the country, it is more focused on criticizing the works of the previous government,” said Poudel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government has no right to object to the reports prepared by the Financial Comptroller General’s Office, Nepal Rastra Bank, and Central Bureau of Statistics, among others. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Poudel argued that the white paper has presented facts and conclusion in different ways. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He further said that the whitepaper presented in parliament a few days ago by Finance Minister Janardan Sharma has largely ignored the adverse impacts of COVID-19 on the national economy. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Due to COVID-19, production and income declined but average spending remained stable. But this fact was neglected in the whitepaper, said Poudel. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">He also took time to praise the programmes of the previous government such as the prime minister employment programme, social security, child security grant, workplace training to workers, accidental insurance in group to workers, and the progress on national pride projects including Melamchi Water Supply Project, Upper Tamakoshi Hydropower, among others. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13556', 'image' => '20210813104740_20201015115013_1602717511.Clipboard02.jpg', 'article_date' => '2021-08-13 10:46:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13810', 'article_category_id' => '1', 'title' => 'Finance Minister Instructs IRD Officials to Step Up Revenue Collection', 'sub_title' => '', 'summary' => 'August 13: Finance Minister Janardan Sharma informed that the government has decided to collect internal revenue double of its target and has directed concerned officials to prepare their work plan accordingly.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: Finance Minister Janardan Sharma informed that the government has decided to collect internal revenue double of its target and has directed concerned officials to prepare their work plan accordingly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">During an interaction with officials of the Inland Revenue Department (IRD) on Thursday (August 12), Minister Sharma stated that the present work style is not enough to contribute to the country's development and therefore stressed on new work plan to boost revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">“I will not tolerate the attitude that the current performance is enough and this is the way things are done,” said Minister Sharma, adding, “Think with a clear mind and you will find ways to boost revenue collection.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Minister Sharma assured the officials of assistance in terms of human resources, technology and training so that they could meet the revenue target. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the minister asked IRD officials how they could build a culture where taxpayers were attracted to tax pay instead of forcing them to pay tax. "The atmosphere for them should be created in such a way it encourages them to pay tax," he reiterated. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to the Minister, the time has come to evaluate the entire country's property. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, newly-appointed Finance Secretary Madhu Kumar Marasini informed that revenue is the lifeline of national economy. He added that revenue officials need to work extra hours as 10 to 5 duty would not be enough to meet the target. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Secretary Marasini urged the revenue offices to go digital to make transactions cashless as far as possible. </span></span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-13', 'modified' => '2021-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '13555', 'image' => '20210813102429_1628089106.jpg', 'article_date' => '2021-08-13 10:23:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13809', 'article_category_id' => '1', 'title' => 'Government Announces up to 20 units of Electricity Free of Cost to Deprived Families ', 'sub_title' => '', 'summary' => 'August 12: The government has decided not to levy electricity tariff on poor consumers for consuming up to 20 units of electricity per month. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">August 12: The government has decided not to levy electricity tariff on poor consumers for consuming up to 20 units of electricity per month. Minister for Energy, Water Resources, and Irrigation Pampha Bhusal informed the decision at a press conference on Wednesday (August 11). When Bhusal took charge of the ministerial portfolio, she had announced that no charge would be levied on poor consumers consuming up to 20 units of electricity. Shortly afterward, the declaration is in the process of implementation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The Board of Directors of Nepal Electricity Authority (NEA) has agreed not to charge the poor consumers as per the decision of the ministry. The tariff has also been proposed to the Electricity Regulatory Commission. After the approval from the commission, the target group customers will get up to 20 units of electricity free of cost every month. However, they will have to pay the demand fee. Minister Bhusal said that they would have to pay a monthly demand fee of Rs 30. Currently, customers consuming up to 10 units of electricity have been getting such facilities.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">Minister Bhusal said that the decision aims to provide relief to the deprived families. It is estimated that about 2.5 million underprivileged families will receive relief from the decision. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The government is preparing to provide a 50 percent discount to farmers using surface water lift technology in agriculture when there is high demand and 80 percent at other times, which will help in the promotion of cash crops. Giving electricity tariff exemption will cost around Rs 700 million monthly, which will be borne by the NEA.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:14.0pt">The government is also planning to increase the use of electric vehicles, reduce electricity tariff and build 50 charging stations within this year, said Minister Bhusal. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13554', 'image' => '20210812032203_20190915092327_20190517010911_aaa.jpg', 'article_date' => '2021-08-12 15:20:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13808', 'article_category_id' => '1', 'title' => 'Food Prices Continue to Surge', 'sub_title' => 'Stakeholders Blame Weak Market Monitoring and Political Instability for the Unnatural Price Hike', 'summary' => 'August 12: Seizing the opportunity of the market which has become chaotic due to the Covid-19 pandemic, traders have continued to arbitrarily hike the prices of various food items such as edible oil, pulses, rice, tea leaves, Horlicks, honey and even chocolates. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 12: Seizing the opportunity of the market which has become chaotic due to the Covid-19 pandemic, traders have continued to arbitrarily hike the prices of various food items such as edible oil, pulses, rice, tea leaves, Horlicks, honey and even chocolates. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Taking advantage of the weak market monitoring of the government and political instability, traders have repeatedly raised prices. According to the Nepal Retailers Association, the price of mustard oil, which was Rs 250 per liter three months ago, has gone up to Rs 370. Likewise, the price of soybean oil, which was Rs 220 per liter earlier, has now increased to Rs 255, while the price of sunflower oil has also increased by Rs 50 to Rs 280 per liter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Along with edible oil, the prices of pulses and rice have also increased. The price of red lentil, which was Rs 110 per kg at the time of the lockdown in April, has gone up to Rs 130 per kg.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The price of black lentil has gone up by Rs 20 per kg from Rs 160 to Rs 180 per kg. Similarly, according to the association, the price of each brand of rice has gone up from Rs 50 to Rs 100 per sack. It is said that some traders and mediators may have increased the prices on the pretext of political instability and prohibitory order.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Pabitra Bajracharya, former president of the association, said that the prices of tea leaves, Horlicks, honey and chocolate have also increased.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to him, the price of 500 grams of Horlicks, which was Rs 370 till last April, has now increased to Rs 400. Honey, which costs Rs 600 per kg, is being sold at Rs 650 and Tokla tea that used to cost Rs 90 is being sold at Rs 130 to Rs 140. Similarly, the prices of all types of chocolates have increased up to Rs 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Furthermore, he said that at present, the price of every food item has gone up by 10 percent. Although there is no actual reason for increasing prices at this time, it is said that consumers are being affected by the continuous price hike. Stakeholders have said that weak market monitoring and political instability are the main reasons behind the unnatural rise in food prices in the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Madhav Timilsina, chairman of the Consumer Rights Investigation Forum, said traders were taking advantage of the weak government mechanism to monitor and intervene in the market and the current political instability to increase the prices of all food items. He said that it was not relevant for the prices to increase even after the consumption has decreased as the places where more food is consumed like big hotels, restaurants and party palaces are closed. He argues that the government mechanism should be honest about this. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13553', 'image' => '20210812011140_Price Hike.jpg', 'article_date' => '2021-08-12 13:10:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13806', 'article_category_id' => '1', 'title' => ' Government Reappoints Kulman Ghising as Executive Director of NEA', 'sub_title' => '', 'summary' => '', 'content' => '<p><em>Newly-appointed Executive Director of NEA Kulman Ghising in this file photo. Photo: NBA</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 12: The government has appointed Kulman Ghising as the executive director of Nepal Electricity Authority (NEA), according to the state-owned national news agency RSS. It is the second time that Ghising has been appointed as the executive director of the authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghising had retired from the post of NEA executive director ten months ago after completion of his four-year-term. </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 Ministry of Energy, Water Resources and Irrigation, Ghising has been appointed for another four-year term. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, NEA’s outgoing executive director Hitendra Dev Shakya has been appointed as a full-term member with the special rank at the Water and Energy Commission, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on Monday (August 9) took a decision to this effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The erstwhile KP Oli-led government had decided not to continue Ghising for a second term despite popular demand for his reappointment from all quarters.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry said the Sher Bahadur Deuba-led government decided to bring Ghising to the NEA for a second time considering his outstanding performance. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ghising is credited for liberating the NEA from 28 billion accumulated loss and taking the organisation to profit. He had been able to completely free the people of the hours-long power outage problem while he was in office. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13552', 'image' => '20210812100140_intr1 (Copy) (1).jpg', 'article_date' => '2021-08-12 09:59:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13807', 'article_category_id' => '1', 'title' => ' ADB to Provide Concessional Loan to Purchase anti-COVID-19 Vaccine ', 'sub_title' => '', 'summary' => 'August 12: The Asian Development Bank has reached an understanding with the Government of Nepal to provide concessional loan of Rs 19.58 billion to procure anti-Covid-19 vaccines.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">August 12: <span style="font-family:"Arial Unicode MS","sans-serif"">The Asian Development Bank has reached an understanding with the Government of Nepal to provide concessional loan of Rs 19.58 billion to procure anti-Covid-19 vaccines. </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"">ADB country representative Arnaud Cauchois and Finance Secretary Madhu Marasini signed the agreement on behalf of their respective organisations amid a function organized at Finance Ministry on Wednesday (August 11). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The government is expected to purchase 15 million doses of vaccines with the assistance from ADB. As a result, as many as 6.8 million people would benefit with the ADB’s support, the bank 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 Unicode MS","sans-serif"">On the occasion, Secretary Marasini expressed that that ADB’s assistance would be a milestone to ensure vaccines for the people so that the country's economic activities could return back on track. Vaccination is the top priority of the government, he added. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, ADB country representative Cauchois said that the ADB’s assistance to Nepal would help save lives and restore economic and social activities. He assured that such help would continue in the days ahead. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-12', 'modified' => '2021-08-12', 'keywords' => '', 'description' => '', 'sortorder' => '13551', 'image' => '20210812100755_20210505032710_20200430022205_asian-development-bank-ru.jpg', 'article_date' => '2021-08-12 10:06:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
