August 9: Five different unions of employees affiliated to the Civil Aviation Authority of Nepal (CAAN) have made public their protest programmes against the two bills that propose splitting the CAAN into an air service provider and a regulatory…
August 9: Five different unions of employees affiliated to the Civil Aviation Authority of Nepal (CAAN) have made public their protest programmes against the two bills that propose splitting the CAAN into an air service provider and a regulatory…
August 8: The number of Nepali migrant workers going for foreign employment has declined by 55 percent in the last Fiscal Year (FY)…
August 8: The Ministry of Health and Population has decided to vaccinate the citizens who have not been able to get the second dose of Covishield on August 9 and…
August 8: The government has spent nearly Rs 2 billion in the first 20 days of the current Fiscal Year 2078-79, according to the Office of the Auditor…
August 8: The Finance Committee of the House of Representatives (HoR) has directed Nepal Rastra Bank (NRB) to give emphasis on the implementation of relief, subsidy and economic recovery…
August 6: Hotels and resorts in tourist destinations in the vicinity of Kathmandu such as Nagarkot and Dhulikhel have started attracting domestic…
August 6: Gold jewelry worth Rs 387.17 million were exported from Nepal in the last fiscal year (FY…
August 6: A new trekking route leading to Mardi Himal has been constructed with the support from the Gandaki…
August 6: The domestic airlines operators in Nepal have committed to operate flights ensuring preventive measures against…
August 5: Nepal Rastra Bank has indicated that the announcement of monetary policy will be delayed.…
August 5: Executive Director of Nepal Electricity Authority (NEA) Hitendra Dev Shakya has said that he is ready to go wherever the government sends…
August 5: The government is preparing to appoint Kulman Ghising as the executive director of Nepal Electricity Authority…
August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make…
August 5: The Nepal Stock Exchange (NEPSE) index continues to record a new…
August 4: A study conducted by Nepal Rastra Bank (NRB) on Corporate Social Responsibility (CSR) programmes of banks and financial institutions (BFIs) has shown that the CSR programmes of commercial banks have not been equally divided in various…
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As soon as the bill was passed by the National Assembly last Monday, the employees' union made public the protest programme to revoke the decision.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">These bills have not been passed by the House of Representatives yet. The employees have voiced their opposition against the 'Nepal Aviation Authority Bill -2076' and 'Nepal Civil Aviation Authority Bill-2076' before the lower house takes a final decision to approve them. In a press statement issued on Sunday, the unions said that the bills were against the national interest as a whole and could raise serious questions about aviation security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They say that the bill has been brought in an unplanned manner to make the air service more expensive by handing over the Tribhuvan International Airport to the private sector. The press statement accused the government to weaken the CAAN in the name of transforming it.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The agitation programme will include pen down every day from 10 am to 1 pm and picketing the office of the Director-General of CAAN from 12 noon to 1 pm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the press statement further mentions that the protest would be intensified if their demands are not addressed and the bills withdrawn.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The statement has the signatures of Min Prasad Khanal of CAAN's Employees Union, Ajit Kumar Gupta of Madhesh Terai Employees Union, Laxman Kumar Giri of Democratic Employees Union, Nanda Prasad Timilsina of National Employees Union, and Shravan Kumar Yadav of Nepal National Employees Union. The bill was registered by the then Tourism Minister Yogesh Bhattarai in the National Assembly on March 26, 2019.</span></span></span></span></p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-09', 'modified' => '2021-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '13535', 'image' => '20210809112234_20200827042104_1598477546.Clipboard08.jpg', 'article_date' => '2021-08-09 11:21:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13789', 'article_category_id' => '1', 'title' => 'Nepali Nationals going for Foreign Employment Down by 55 Percent', 'sub_title' => '', 'summary' => 'August 8: The number of Nepali migrant workers going for foreign employment has declined by 55 percent in the last Fiscal Year (FY) 2077/78', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 8: The number of Nepali migrant workers going for foreign employment has declined by 55 percent in the last Fiscal Year (FY) 2077/78.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the previous FY 2076/77, the number of workers going for foreign employment had also declined by 28 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the annual report made public by the Department of Foreign Employment last year, only 166, 698 Nepali workers have gone for foreign employment in the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the previous fiscal year 2076/77, a total of 368, 433 Nepali workers had one for foreign employment. The data of the department shows that 508, 828 Nepalis went for foreign employment in FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">By renewing the labor permit, 72,081 new workers (those who got new labor permits) went to foreign employment last year. In the previous fiscal year 190,453 new workers had gone for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Last year, Nepalis went to 116 countries including the UAE, Japan, Romania, Malaysia, Qatar, Saudi Arabia, Bahrain, South Korea, and Cyprus for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Most of the workers have gone to Qatar. A total of 54,915 workers went to Qatar last year. Likewise, 46,960 workers have gone to Saudi Arabia. Similarly, the data of the department shows that 40,477 workers have gone to the UAE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Under normal circumstances, 400,000 to 500,000 workers from Nepal go for foreign employment every year. However, according to the department, the number of workers going for foreign employment has declined sharply in the last two years due to the impact of Covid-19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Stating that the number of workers going for foreign employment has decreased due to the pandemic, Mahendra Nath Bhattarai, information officer of the department said, “Most of the countries in the world including Nepal have imposed lockdown to control the global spread of the pandemic.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">“As a result, an economic crisis has been seen in the labor destination countries. Employer companies have been shut down, and workers have been laid off,” he added, “These are the reasons for the declining number of workers going for foreign employment.” Meanwhile, the demand for workers has also declined sharply.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The number of workers going for foreign employment had decreased in the fiscal year 2076/77 BS due to the postponement of the work permit and the extended lockdown from March 24, 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government had postponed the approval of work permits for foreign employment on March 11, 2020 and started giving permission from June 28, 2020. Likewise, the government started giving new work permits from September 2. Since then, Nepalis have started going for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the department, the number of workers going for foreign employment has been increasing recently.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">"The demand for workers has been increasing lately. As a result, the number of workers for foreign employment has been increasing in recent times,” said Bhattarai.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13534', 'image' => '20210808022447_20210403032054_Foreign Employment.jpg', 'article_date' => '2021-08-08 14:23:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13788', 'article_category_id' => '1', 'title' => 'Second Dose of AstraZeneca Vaccine to be Administered on Monday and Tuesday', 'sub_title' => '', 'summary' => 'August 8: The Ministry of Health and Population has decided to vaccinate the citizens who have not been able to get the second dose of Covishield on August 9 and 10.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 8: The Ministry of Health and Population has decided to vaccinate the citizens who have not been able to get the second dose of Covishield on August 9 and 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Of the 1.6 million doses provided by Japan under the Covax facility, 500,000 doses arrived in Kathmandu on Saturday (August 7). Minister of State for Health Umesh Shrestha said that 513,420 doses of vaccines have been received and another 500,000 doses would be delivered on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to Jhalak Sharma Gautam, head of the vaccination center under the Department of Health Services, the government has decided to vaccinate people above the age of 65 who have received the first dose of vaccine. They will be receiving the second dose from Monday. The vaccination would be conducted from the same vaccination centers from where they received the shots previously.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government had vaccinated people above the age of 65 from March 7 to March 16 earlier this year. Gautam said that although AstraZeneca and Covishield were produced in different places, both the vaccines are of the same nature and can be administered in each other’s place.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">"Covishield is also a vaccine based on AstraZeneca formula. It boosts the effectiveness of the AstraZeneca vaccine," he said. He said that 1.6 million doses of vaccines would be delivered from Japan by this week.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13533', 'image' => '20210808122501_56862824_303.jpg', 'article_date' => '2021-08-08 12:24:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13787', 'article_category_id' => '1', 'title' => 'Government Spends Rs 2 Billion in 20 Days', 'sub_title' => '', 'summary' => 'August 8: The government has spent nearly Rs 2 billion in the first 20 days of the current Fiscal Year 2078-79, according to the Office of the Auditor General.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: The government has spent nearly Rs 2 billion in the first 20 days of the current Fiscal Year 2078-79, according to the Office of the Auditor General. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The Office of the Auditor General has reportedly stated that a total of Rs 1.91 billion has been spent under different headings as of last Wednesday (August 4). According to the office, the majority of the budget was spent on current expenses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Department of Inland Revenue (DRI) has collected Rs 3.80 billion, or 3.31 percent of its target. This is higher than the target achieved during the corresponding period of the previous fiscal year, the Office of the Auditor General said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government has spent Rs 1.58 billion in current expenditure and Rs 330 million in capital expenditure in the review period, according to the office. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Economists say that the problem of less capital spending and postponement of development works has been a problem since the past and the government should address this issue. However, they claim that the problem was caused by procedural hassles rather than deliberate intention of not spending. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13532', 'image' => '20210808121610_1626564749.Clipboard20.jpg', 'article_date' => '2021-08-08 12:15:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13786', 'article_category_id' => '1', 'title' => 'Finance Committee directs NRB to bring Relief and Recovery Programmes ', 'sub_title' => '', 'summary' => 'August 8: The Finance Committee of the House of Representatives (HoR) has directed Nepal Rastra Bank (NRB) to give emphasis on the implementation of relief, subsidy and economic recovery programmes.', '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 8: The Finance Committee of the House of Representatives (HoR) has directed Nepal Rastra Bank (NRB) to give emphasis on the implementation of relief, subsidy and economic recovery programmes of the government by revitalizing the pandemic-battered economy through the monetary policy of the current fiscal year. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the committee Krishna Prasad Dahal informed that the committee has issued a 17-point directive to the central bank including promotion of key dynamic areas of economy and attaining the goal of rapid growth. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The committee directed the central bank to deposit the stipulated amount in the business regularization fund that was instituted to compensate the workers of small, cottage and big industries, tourism, private educational institution, transportation, film industry and media workers, and support the resumption of businesses. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson Dahal further shared that the Committee instructed the central bank to expand business area and ceiling amount as the NRB’s subsidized interest rate of 5 percent has positively impacted the COVID-19-affected enterprises. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee asked the central bank to widen the scope and limit of subsidized loan to be provided to the micro, small and medium-scale industry and commercial farming, youth, enterprises and returnees from foreign employment. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee’s Secretary Dr Surendra Aryal said that the committee also directed the NRB to make effective the programme to provide loan up to Rs 2.5 million at one percent interest rate to motivate youth entrepreneurs in start-up business. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee also asked the NRB to focus the monetary policy in mobilizing resource for economic growth, promotion of domestic entrepreneurship and export, replacement of import and production-oriented sector. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It instructed to make policy-level arrangements to maintain financial stability. The Committee suggested the central bank to make policy arrangement to check foreign reserve deficit and to discourage import of unnecessary luxury items. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the NRB has been asked to encourage merger of banks and financial institutions based on necessity, capacity and competition. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It also drew the attention of NRB to make various service charges provided by banks and financial institutions transparent.</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"">Likewise, the Committee also directed to restructure and reschedule the loan given to different enterprises in the current fiscal year by analyzing COVID-19 impact on the economy. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> It is stressed that the monetary policy should maintain broader economic stability, ensure sustainable development through rapid growth of economy, promote access to finance, ensure stability of the financial sector and development of safe, healthy and efficient payment system. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Commercial and development banks have been asked to immediately implement the provision of ensuring subsidized loans from their branches and to create employment through the subsidized loan scheme. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Committee has asked the central bank to implement the refinancing scheme by making procedures so that a large number of small enterprises could get benefit from it. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the Committee stated that the government institutions should be made result-oriented and run economically through austerity measures in the present context of COVID-19.-- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13531', 'image' => '20210808115506_2021030802161.jpg', 'article_date' => '2021-08-08 11:54:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13785', 'article_category_id' => '1', 'title' => 'Weekend Holidays of Domestic Tourists Boost Hotel Business around Kathmandu ', 'sub_title' => '', 'summary' => 'August 6: Hotels and resorts in tourist destinations in the vicinity of Kathmandu such as Nagarkot and Dhulikhel have started attracting domestic tourists.', 'content' => '<p><em>Photo Courtesy: Hotel Himalayan Villa</em></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"">August 6: Hotels and resorts in tourist destinations in the vicinity of Kathmandu such as Nagarkot and Dhulikhel have started attracting domestic tourists. Hotels and resorts in these locations are slowly picking up their business, especially due to weekend vacations, small workshops, and MICE tourism.</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"">Domestic tourists have started visiting these destinations after the government eased the prohibitory order imposed since April 29 and stepped up vaccination drive in recent days. According to the hoteliers, the occupancy of hotels and resorts in these destinations has reached 75 to 80 percent on weekends. Domestic tourists visit Nagarkot and Dhulikhel mostly on holidays.</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"">Entrepreneurs said that they are receiving encouraging guests during the weekend. Hira Shrestha, sales and marketing manager of Nagarkot-based Hotel Himalayan Villa, said that hotels in Nagarkot have occupancy up to 80 percent on weekends. On other days, the total occupancy is 5 to 10 percent, he added.</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"">"On other days, only 10/12 people come to the big hotels, and 5/7 people come to the small ones," he said.</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"">He said that despite the improvement in tourist arrivals and occupancy in January and February, it was not possible to do business after the prohibitory order was issued on April 29.</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"">He said that the hotel has been open since July 20, and domestic tourists have been coming sporadically. Shyam Mahat, managing director (MD) of Himalayan View Resort, said that the occupancy rate of his hotel is 7 to 8 percent.</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"">He said that although the number of domestic tourists has increased due to the easing of prohibitory order, the number of tourists has been declining for a few days now.</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"">Now, he says, tourist arrival has been low due to the panic and infection rate of the third wave of Covid-19.</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"">He said that they are providing services by fulfilling the health standards prescribed by the government.</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"">He said that it was necessary to bring a policy to provide relief to this business through monetary policy. Entrepreneurs have become enthusiastic after the coronavirus infection subsided and the resumption of vaccination drive. </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"">Prem Chandra Shrestha, president of Hotel Association Kavre, who is also the MD of Dhulikhel Luggage Resort, said that the occupancy of hotels here is 25 percent on average.</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 him, there are 50 hotels and resorts in Dhulikhel. Entrepreneurs are worried that the current transmission rate of Covid-19, which has been increasing for a few days, will reduce the current rate of arrival of domestic tourists to zero. </span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/The-Cafe-2.jpg" style="height:409px; width:545px" /></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13530', 'image' => '20210806025426_slide3.jpg', 'article_date' => '2021-08-06 14:52:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13784', 'article_category_id' => '1', 'title' => 'Gold Jewelry worth Rs 387 Million Exported in Last Fiscal Year', 'sub_title' => '', 'summary' => 'August 6: Gold jewelry worth Rs 387.17 million were exported from Nepal in the last fiscal year (FY 2077/78).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 6: Gold jewelry worth Rs 387.17 million were exported from Nepal in the last fiscal year (FY 2077/78). Based on quantity, 38 kg of gold jewelry were exported to different countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the foreign trade data released by the Department of Customs, the export of gold jewelry started last year after the HS code was issued. Statistics show gold jewelry was mostly exported to the United States, Australia and Hong Kong.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Among the three countries, maximum amount of gold jewelry was exported most to the United States. Jewelry worth Rs 286.09 million was exported there during the review period. Similarly, gold jewelry worth Rs 67 million was exported to Hong Kong and Rs 43.78 million to Australia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Prior to this, gold jewelry worth Rs 1.516 million were exported to China in the fiscal year 2072/73. After that, the data for the export of gold jewelry up to the previous fiscal year is not available. However, traders say that a small amount of gold jewelry may have been exported in between. The data of the department has shown that the export of gold jewelry has started on a large scale since the beginning of last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Gold jewelry has not been widely traded in the domestic market due to rising prices and the coronavirus pandemic. In such situation, traders have started exploring markets abroad and there has been positive response.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Lately, demand for gold jewelry from Nepalese citizens in countries like the USA, Hong Kong and Australia has been increasing. President of the Federation of Nepali Gold and Silver Dealers Association, Manik Ratna Shakya said that gold ornaments are in high demand from them. He says that jewelry of Nepali traditional designs are mostly demanded by them.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"They have been demanding non-foreign jewelry," he said. "There is a demand for Nepali authentic jewelry such as Tilaharai and bangles, which are not made abroad."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He says that the exports of gold jewelry will also go on increasing in upcoming days. “We have recently signed an agreement with Gateway Payment Nepal on international electronic payment services. Accordingly, foreign customers can now easily order jewelry by paying money online,” he said, adding, “Also, the way gold jewelry exports have increased in the last one year, it seems that its exports will increase further in the coming days.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13529', 'image' => '20210806024644_history-of-gold-jewelry.jpg', 'article_date' => '2021-08-06 14:45:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13782', 'article_category_id' => '1', 'title' => ' New Trekking Route to Mardi Himal Constructed ', 'sub_title' => '', 'summary' => 'August 6: A new trekking route leading to Mardi Himal has been constructed with the support from the Gandaki Province. ', 'content' => '<p><em>Mardi Himal along with Mt Machhapuchhre. Photo Courtesy: GVTrek</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 6: A new trekking route leading to Mardi Himal has been constructed with the support from the Gandaki Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the route that begins from Melbot in Pokhara Metropolitan City-25 passes through Astam, Dhital, Dhampus, Pritam Deurali, Dhital Lwang and Ghalel Kalimati. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project cost is approximately Rs 1.5 million. Gandaki Province has provided Rs 1 million provided for the project while the remaining amount has been contributed by a Germany-based organisation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many tourism infrastructures have been constructed on the way. The project aims to facilitate tourists, including domestic and foreign tourists, to reach the 5587 meters mountain that has attracted many tourists of late, the project coordinator Bishwo Adhikari, told RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stone floor tiles have been used on the two meters wide route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To reach the mountain, one can catch a vehicle up to Australian Camp through Dhampus, Kalimati and Siding from where they can use the route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have constructed a new route to the mountain. We believe that tourists on the way will be attracted to biodiversity and natural scenes like Laligurans(Rhododendron) forest, Rudramahadev and Panchebaja Park," RSS quoted Adhikari as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plans are afoot to construct a cycle lane on the way, said the project officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It requires additional Rs 5 million to expand the route to Dhital, said Adhikari, adding that the federal and provincial governments have been requested to support the project in this regard. </span></span></span></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13528', 'image' => '20210806110951_gvtrek_comxfish.jpg', 'article_date' => '2021-08-06 11:07:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13783', 'article_category_id' => '1', 'title' => 'Airlines Operators Pledge to Ensure Safety Measures Against COVID-19 ', 'sub_title' => '', 'summary' => 'August 6: The domestic airlines operators in Nepal have committed to operate flights ensuring preventive measures against COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 6: The domestic airlines operators in Nepal have committed to operate flights ensuring preventive measures against COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Airlines Operators Association of Nepal (AOAN), issuing a press statement on Wednesday, reaffirmed its commitment for continuous collaboration with the Ministry of Health and Population, COVID-19 Crisis Management Committee and Civil Aviation Authority of Nepal (CAAN) in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organization of airline operators shared that the private airlines were operating domestic flights in the wake of the second wave of COVID-19 ensuring measures to stem the spread of COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Private airlines have been implementing eight flights in an hour as per the CAAN’s flight schedule. The statement also said that the airline operators had been operating flights to various destinations in a reasonable fare in the context of road connectivity facing problems due to monsoon-induced disasters lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statement, the domestic airport in Kathmandu witnesses over 1,200 passengers travelling to and from various destinations in a day on average. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13527', 'image' => '20210806112032_20210221121806_Summit Air Landing.jpg', 'article_date' => '2021-08-06 11:19:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13781', 'article_category_id' => '1', 'title' => 'Monetary Policy for the Current Fiscal Year Likely to be Delayed ', 'sub_title' => '', 'summary' => 'August 5: Nepal Rastra Bank has indicated that the announcement of monetary policy will be delayed. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 5: Nepal Rastra Bank has indicated that the announcement of monetary policy will be delayed. NRB is preparing to release the monetary policy for the current fiscal year by looking at the priorities and projections of the new government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Governor of the central bank Maha Prasad Adhikari said that the monetary policy of the current fiscal year should be made public only after looking at the size, priority and projection of the new government's budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“After the change of government, we have to bring monetary policy based on the priorities and projections of the new government, so we are waiting for it,” he said at a meeting of the Finance Committee of Parliament on Wednesday (August 4). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that the preparation to announce the monetary policy is almost complete. However, as the government has changed and the monetary policy will be finalised only by looking at the plans and priorities of the new government, added Adhikari. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In previous years, there has never been any delay in announcing monetary policy later than July. However, although the month of July already has passed, Governor Adhikari did not give a concrete answer to the committee about the date of announcement of the monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The then KP Sharma Oli-led government had brought the budget for the current fiscal year through an ordinance on May 29. It has been three weeks since the budget brought by the then government was presented to the parliament by the current finance minister Janardan Sharma but the budget ordinance has not been discussed in the parliament. </span></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 Parliament Secretariat has not yet made an agenda to discuss the budget proposal registered in the Parliament. There is a provision that if the ordinance is not passed within 60 days of its submission to the parliament, it will be automatically repealed. There is a possibility that the budget ordinance will be repealed as this government has not shown much desire to implement the ordinance brought by the previous government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government led by Sher Bahadur Deuba, formed with the support of the five-party alliance, has been under pressure to bring a new budget by scrapping the budget brought through ordinance. Confusion over the budget has had an impact on monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Adhikari, the monetary policy, which is currently being prepared, will be improved on the basis of the current policy and priority of the government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The upcoming monetary policy will continue to provide concessions to coronavirus-affected areas and businesses, and with the possibility of third wave of coronavirus, the government will continue to prioritize concessional loan to prevent and control the disease and to sustain business. In the monetary policy that will be made public in a few days, NRB will continue the restructuring and rescheduling of loans. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Monetary policy needs to facilitate pandemic-affected areas and businesses," he said, “The second wave of Covid-19 and the impact of the prohibitory order on the businesses need to be addressed and the renewal and restructuring of loan should be continued on the basis of the impact.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At present, NRB is disbursing refinancing for various sectors up to Rs 200 billion, five times from its average fund of Rs 40 billion. The continuation of refinancing is being given to the areas directly affected by Covid-19 in the monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB is ready to control the import of luxury items to reduce the trade deficit and balance of payments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">For this, NRB will stop the import of luxury items and will pursue the policy of providing credit to the businesses that have come into operation for import substitution through monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As the development strategy of the financial sector and the fourth strategic plan of the Nepal Rastra Bank have to be prepared in the current Fiscal Year, the NRB will give priority to the monetary policy for the sustainable and inclusive development of the financial sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the governor's office, so far 20 percent of the loan has been provided to the business sector. A study by NRB has shown that a large amount of loan has not gone to the stock market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Governor Adhikari said that the profit was higher even after setting the interest rate threshold of microfinance at 15 percent. He did not elaborate on what the forthcoming monetary policy would do to this unnatural profit growth. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that the profit of the banks was satisfactory. Despite the government's support for concessional loans, many banks have not been able to enter the market as they do not want to take risks. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At the meeting of the Finance Committee, Chairman Krishna Prasad Dahal suggested NRB to bring monetary policy to strengthen the country's economy even if the debtors above 10 million are not given concession in interest rate. He also said that the country's economy would collapse if loans were provided to big industrialists at concessional rates. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In the meeting, the members of the committee expressed their concern over the growing trade deficit and drew the attention of Nepal Rastra Bank to find ways to reduce it. Committee member and former finance minister Barshaman Pun warned to stop import of luxury items to reduce trade deficit. Committee member and UML parliamentarian Metmani Chaudhary had said that the monetary policy should not be delayed. </span></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 Finance Committee is preparing to give recommendations for the monetary policy in a few days. Committee Chairman Krishna Dahal said that the work of preparing the report has already started. </span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13526', 'image' => '20210805024909_2021030802161.jpg', 'article_date' => '2021-08-05 14:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13780', 'article_category_id' => '1', 'title' => 'NEA Executive Director ‘Ready’ to go where ever Government Sends Him', 'sub_title' => '', 'summary' => 'August 5: Executive Director of Nepal Electricity Authority (NEA) Hitendra Dev Shakya has said that he is ready to go wherever the government sends him.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 5: Executive Director of Nepal Electricity Authority (NEA) Hitendra Dev Shakya has said that he is ready to go wherever the government sends him.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director Shakya stated that he was ready to go wherever he was needed as per the responsibilities handed to him. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"I’ve been asked whether I can be given any other responsibilities. I have already said that I am ready to go wherever I am sent in order to fulfill my responsibilities," he told reporters at the authority on Wednesday. “I belong to the technical field. I do planning as well. I will work at any place related to my field”.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director Shakya said that despite the Covid-19 pandemic and power outage during his tenure, he had worked without any problem in electricity. He claims that the power supply has been cut off less this year than in comparison to last year. He also said that arrangements have been made for the availability of electricity in hospitals round the clock. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Similarly, Dhalkebar 400 KV substation has been brought into operation and work on Upper Tamakoshi has been taken forward during his tenure. Shakya said that 13 more districts have been fully electrified and national grid electricity has been supplied to Karnali for the first time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shakya said leakage has increased as consumption has increased by 15 percent this year. He said that there has been a problem in monitoring and removing hook wires from door to door due to the impact of Covid-19. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to him, the leakage of electricity has increased by 1.6 percent. Shakya has even said that the leadership of the authority should not be changed in a way that insults him. "I am ready to resign in order to help the government by getting appointed at a new location. But I will go to court if I am unjustly removed," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Minister for Energy Pampha Bhusal and Prime Minister Sher Bahadur Deuba are not satisfied with Shakya. On Tuesday, Prime Minister Deuba called the Energy Minister and expressed interest in the leadership of the Electricity Authority, according to the Prime Minister's Secretariat. Subsequently, Energy Minister Bhusal called Shakya and inquired about his work.</span></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 Energy Minister herself is not satisfied with the performance of the current leadership of NEA. A few days ago, she had expressed her intention to change the leadership of NEA at a press conference held at the Ministry of Energy.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13525', 'image' => '20210805024734_1628138514.jpg', 'article_date' => '2021-08-05 14:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13779', 'article_category_id' => '1', 'title' => 'Government Preparing to Bring Kulman Ghising to NEA', 'sub_title' => '', 'summary' => 'August 5: The government is preparing to appoint Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 5: The government is preparing to appoint Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Prime Minister Sher Bahadur Deuba summoned Minister for Energy, Water Resources and Irrigation, Pampha Bhusal to Baluwatar earlier this week and asked her to expedite the process of appointing Kulman as the NEA chief, according to the Prime Minister's Secretariat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following the directive of Prime Minister Deuba, Minister Bhusal has even started the 'process' to appoint Ghising as the executive director of NEA. In an introductory program with reporters a few days ago, Energy Minister Bhusal said that she was the sixth energy minister from the Maoist party and would continue the good work done by the previous ministers. In this regard, she had expressed her intention to form a team that would do a good job in the energy sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, it has been learnt that Kulman Ghising was her priority. She also expressed her dissatisfaction with the current leadership of the Electricity Authority. Within hours of the Prime Minister's directive, Energy Minister Bhusal summoned the current NEA Executive Director Hitendra Dev Shakya on Tuesday and instructed him to resign.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to a source at the Prime Minister's Office, it has been reported that the revenue of NEA has declined ever since Hitendra Dev Shakya held the responsibility of the NEA chief. There were reports of increase in unauthorized power cuts and power leakages. Minister Bhusal has already asked Shakya to resign. But, NEA Executive Director Shakya has refused to resign so far. Bhusal had demanded Shakya's resignation due to his poor performance. However, as per the sources, Shakya refused to resign saying that he has been appointed for a period of 4 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Shakya, who has been the acting executive director since 11 November 2020, was appointed as the executive director by the then KP Sharma Oli-led government on 8 February 2021. Ghising, who was in charge of NEA before Shakya, had ended load shedding of 18 hours a day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As Ghising took over the Nepal Electricity Authority, which had been running at a loss continuously, a profit of Rs 11 billion was reported in the fiscal year 2076/77. Ghising, who was appointed as the executive director on September 14, 2016, had made a profit of Rs 5 billion from the accumulated deficit of Rs 34 billion during his tenure. Ghising's term ended on 13 September 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite calls for Ghising to be re-appointed as NEA's executive director, then-Prime Minister Oli did not show "interest" in this matter. The then energy minister, Barsaman Pun, had lobbied for Ghising’s reappointment, but his attempt was unsuccessful. About five months after the end of Ghising's tenure, the government had appointed Hitendra Dev Shakya as the Executive Director of NEA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Shakya was directly appointed by the Council of Ministers. Ghising was appointed through a competition. Ghising was appointed by the government after a three-day notice was issued by the then Energy Minister Janardan Sharma to nominate Madhu Bhetwal, Kulman Ghising and Navin Singh to the cabinet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><strong>Can the cabinet remove the current head?</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Although the latest amendment to the Nepal Electricity Authority Act in 2075 BS does not mention that appointments should be made through competition, the government can dismiss Shakya even if he refuses to resign. The amended act states, "The chief executive will be appointed by the Government of Nepal." According to sources at the Ministry of Energy, Ghising was once selected from the competition and his tenure has been successful. Thus, this time, he can be appointed directly by dismissing Shakya. A few days ago, an agreement was reached between the five-party coalition to remove all political appointments made by the previous government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As the then government directly appointed Shakya, the government could remove him on the basis of the decision of the cabinet meeting, said a source close to the energy minister. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13524', 'image' => '20210805012307_20210514031053_NEA.jpg', 'article_date' => '2021-08-05 13:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13778', 'article_category_id' => '1', 'title' => 'Finance Minister for Policy-Level Intervention to Uplift State-Owned Corporations ', 'sub_title' => '', 'summary' => 'August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He also instructed them to formulate plans and policies to make such problematic corporations reach profitable condition, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Finance Madhu Kumar Marasini spoke of the need to revamp and reform problematic public corporations. Among the total 44 state-owned public corporation, 24 had amassed profits while remaining 18 were running on loss. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Marasini, the government has invested over Rs 600 billion on those corporations but much to the dismay of the government and public, such corporations have not been able to generate employments to over 30,000 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Such corporations have become a liability to the government instead of profit-making institutions, RSS quoted Marasini as saying. The corporations have put additional responsibilities on the government, viewed Marasini, adding that even those corporations that were privatized to earn profits were running on loss. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He too pressed for reforms of such corporations at policy and legal level. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Division Dirgharaj Mainali, presenting the details on the status of the corporations, shared that Nepal Oil Corporation, Nepal Electricity Authority, Nepal Telecommunications Company Limited, Nepal Banijya Bank Limited and Agriculture Development Bank among others were in profit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the 44 state-run corporations, 10 are related to industrial sector, nine related to trade, nine related to finances, five related to social sector and 10 related to service sector. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13523', 'image' => '20210805114045_1628089106.jpg', 'article_date' => '2021-08-05 11:39:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13777', 'article_category_id' => '1', 'title' => 'NEPSE Index Hits Record 3,123 Points ', 'sub_title' => '', 'summary' => 'August 5: The Nepal Stock Exchange (NEPSE) index continues to record a new history.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 5: The Nepal Stock Exchange (NEPSE) index continues to record a new history. On Wednesday (August 4), the second-last trading day of this week, the NEPSE index posted a double digit gain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The index rose 12.05 points to close at 3,123.14. The transaction amount stood at over Rs 15.5 billion. Likewise, the sensitive index increased 0.71 points to stand at 578.23. Over 28 million shares of 225 companies were traded during this period.</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"">Of the total 13 subgroups, six increased and seven decreased. Banking sector gained 4.29 points, development banks 65.85, hydropower 194.07, finance 45.05, production 27.84 and investment 0.34. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, trade slumped 60 points while hotel and tourism 7.77, non-life insurance 82.98, others 21.01, microfinance 126.33, life insurance 2.75 and mutual fund 0.12. </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 companies that hit the upper circuit of 10 percent were Api Power Company Limited, Khanikhola Hydropower Company Limited, Dibyashwori Hydropower Limited, Kalika Power Company Limited, Upper Tamakoshi, Ghalemdi Hydro Limited, Union Life Insurance and Jeevan Bikas Laghubitta Bittiya Sanstha Limited. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13522', 'image' => '20210805111425_20210203112246_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2021-08-05 11:13:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13776', 'article_category_id' => '1', 'title' => 'CSR activities of Banks Concentrated in Bagmati Province: NRB Study', 'sub_title' => '', 'summary' => 'August 4: A study conducted by Nepal Rastra Bank (NRB) on Corporate Social Responsibility (CSR) programmes of banks and financial institutions (BFIs) has shown that the CSR programmes of commercial banks have not been equally divided in various provinces.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 4: A study conducted by Nepal Rastra Bank (NRB) on Corporate Social Responsibility (CSR) programmes of banks and financial institutions (BFIs) has shown that the CSR programmes of commercial banks have not been equally divided in various provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the study, the commercial banks spend more than two-third of funds for CSR in Bagmati Province. The study has also shown that the commercial banks spent 67.95 percent of CSR fund in Bagmati Province in fiscal year 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Since FY 2076/77, commercial banks are required to spend a minimum of 10 percent of the CSR amount in each province. However, the study has shown that commercial banks have not implemented CSR programmes in the prescribed proportion. According to the study, except Bagmati Province, less than 10 percent CSR amount has been spent in other provinces in the fiscal year 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Among the seven provinces, the banks have spent the least amount in Karnali Province. Only 3.56 percent of funds allocated for CSR have been spent in Karnali Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study has shown that the share of CSR-related expenditure by banks is increasing. In FY 2075/76, commercial banks in Bagmati Province had spent about 75 percent of the CSR fund. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the same year, 1.13 percent CSR fund was spent in Karnali Province. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Executive director of NRB Prakash Kumar Shrestha said that the CSR programme of commercial banks is not balanced in every province. He is of the view that this may have been due to high demand in Bagmati due to various reasons. However, the CSR programme needs to be balanced as per the prescribed proportions. “Now we have brought out the real situation of the CSR programme. The reason behind the unbalanced distribution of CSR programmes needs to be further studied,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">He also said that the ratio of spending to CSR has not been implemented. “The central bank has directed commercial banks to spend a minimum of 10 percent of fund allocated for CSR in a province. However, it has not been implemented yet,” he said, “But there has been improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Although the CSR programme of commercial banks is not balanced in all provinces, the overall banks and financial institutions have spent more than the stipulated amount on CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">BFIs are required to spend at least one percent of their net profit on CSR. However, the study has shown that they spent 1.58 percent of their profit. They have spent Rs 1.28 billion on CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the study, A-class commercial banks have been allocating 1.54 percent of the profit for CSR on average. Similarly, Class B banks have been allocating 1.55 per cent, Class C finance companies 1.66 per cent and Class D microfinance institutions 2.1 per cent for CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Many banks and financial institutions participating in the survey have been conducting CSR programmes for the purpose of building their reputation. Similarly, the study has shown that such programmes are also done for business growth and customer satisfaction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Likewise, 85 percent of banks and financial institutions have their own corporate social responsibility policy. Moreover, the study has shown that 51 percent banks and financial institutions make annual plans in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In FY 2075/76, 35 percent of the commercial banks disclosed sectoral expenditure from the CSR Fund in their annual report, which increased to 38 percent in FY 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Furthermore, in FY 2075/76, 12 percent of the commercial banks disclosed the provincial expenditure from the CSR Fund in the annual report, which increased to 30.8 percent in FY 2076/77. However, according to the study, the expenditure details of the CSR fund have not been disclosed in the annual report as instructed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB had conducted a survey in this regard through virtual medium from November 5 to December 11. This is also the first survey on CSR. Most of the commercial banks had participated in the survey. Besides, Shrestha said that development banks, finance companies and microfinance financial institutions were also brought under the scope of the survey.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">“We conducted a survey in this regard by bringing limited information in a limited time. Therefore, it is not complete in itself,” he said, “Nevertheless, it shows the real state of the CSR programme. As a result, this survey will help us make additional policy arrangements in this regard.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study has shown that the CSR programme needs to have a balance in terms of geographyl and region. In addition, Shrestha said that there is a need for clear guidance and direction to make CSR-related expenditure transparent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study also explores various aspects of CSR in the Nepal’s banking sector. According to the study, the size of the CSR fund is increasing and its proper use can have social benefits to the economy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-04', 'modified' => '2021-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '13521', 'image' => '20210804022551_20210308021619_20201228012934_20201106055408_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-04 14:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '13790', 'article_category_id' => '1', 'title' => 'CAAN Employees Unveil Protest Programmes against the Decision to Split the Aviation Authority ', 'sub_title' => '', 'summary' => 'August 9: Five different unions of employees affiliated to the Civil Aviation Authority of Nepal (CAAN) have made public their protest programmes against the two bills that propose splitting the CAAN into an air service provider and a regulatory body.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 9: Five different unions of employees affiliated to the Civil Aviation Authority of Nepal (CAAN) have made public their protest programmes against the two bills that propose splitting the CAAN into an air service provider and a regulatory body. As soon as the bill was passed by the National Assembly last Monday, the employees' union made public the protest programme to revoke the decision.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">These bills have not been passed by the House of Representatives yet. The employees have voiced their opposition against the 'Nepal Aviation Authority Bill -2076' and 'Nepal Civil Aviation Authority Bill-2076' before the lower house takes a final decision to approve them. In a press statement issued on Sunday, the unions said that the bills were against the national interest as a whole and could raise serious questions about aviation security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They say that the bill has been brought in an unplanned manner to make the air service more expensive by handing over the Tribhuvan International Airport to the private sector. The press statement accused the government to weaken the CAAN in the name of transforming it.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The agitation programme will include pen down every day from 10 am to 1 pm and picketing the office of the Director-General of CAAN from 12 noon to 1 pm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the press statement further mentions that the protest would be intensified if their demands are not addressed and the bills withdrawn.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The statement has the signatures of Min Prasad Khanal of CAAN's Employees Union, Ajit Kumar Gupta of Madhesh Terai Employees Union, Laxman Kumar Giri of Democratic Employees Union, Nanda Prasad Timilsina of National Employees Union, and Shravan Kumar Yadav of Nepal National Employees Union. The bill was registered by the then Tourism Minister Yogesh Bhattarai in the National Assembly on March 26, 2019.</span></span></span></span></p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-09', 'modified' => '2021-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '13535', 'image' => '20210809112234_20200827042104_1598477546.Clipboard08.jpg', 'article_date' => '2021-08-09 11:21:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13789', 'article_category_id' => '1', 'title' => 'Nepali Nationals going for Foreign Employment Down by 55 Percent', 'sub_title' => '', 'summary' => 'August 8: The number of Nepali migrant workers going for foreign employment has declined by 55 percent in the last Fiscal Year (FY) 2077/78', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 8: The number of Nepali migrant workers going for foreign employment has declined by 55 percent in the last Fiscal Year (FY) 2077/78.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the previous FY 2076/77, the number of workers going for foreign employment had also declined by 28 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the annual report made public by the Department of Foreign Employment last year, only 166, 698 Nepali workers have gone for foreign employment in the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the previous fiscal year 2076/77, a total of 368, 433 Nepali workers had one for foreign employment. The data of the department shows that 508, 828 Nepalis went for foreign employment in FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">By renewing the labor permit, 72,081 new workers (those who got new labor permits) went to foreign employment last year. In the previous fiscal year 190,453 new workers had gone for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Last year, Nepalis went to 116 countries including the UAE, Japan, Romania, Malaysia, Qatar, Saudi Arabia, Bahrain, South Korea, and Cyprus for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Most of the workers have gone to Qatar. A total of 54,915 workers went to Qatar last year. Likewise, 46,960 workers have gone to Saudi Arabia. Similarly, the data of the department shows that 40,477 workers have gone to the UAE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Under normal circumstances, 400,000 to 500,000 workers from Nepal go for foreign employment every year. However, according to the department, the number of workers going for foreign employment has declined sharply in the last two years due to the impact of Covid-19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Stating that the number of workers going for foreign employment has decreased due to the pandemic, Mahendra Nath Bhattarai, information officer of the department said, “Most of the countries in the world including Nepal have imposed lockdown to control the global spread of the pandemic.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">“As a result, an economic crisis has been seen in the labor destination countries. Employer companies have been shut down, and workers have been laid off,” he added, “These are the reasons for the declining number of workers going for foreign employment.” Meanwhile, the demand for workers has also declined sharply.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The number of workers going for foreign employment had decreased in the fiscal year 2076/77 BS due to the postponement of the work permit and the extended lockdown from March 24, 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government had postponed the approval of work permits for foreign employment on March 11, 2020 and started giving permission from June 28, 2020. Likewise, the government started giving new work permits from September 2. Since then, Nepalis have started going for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the department, the number of workers going for foreign employment has been increasing recently.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">"The demand for workers has been increasing lately. As a result, the number of workers for foreign employment has been increasing in recent times,” said Bhattarai.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13534', 'image' => '20210808022447_20210403032054_Foreign Employment.jpg', 'article_date' => '2021-08-08 14:23:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13788', 'article_category_id' => '1', 'title' => 'Second Dose of AstraZeneca Vaccine to be Administered on Monday and Tuesday', 'sub_title' => '', 'summary' => 'August 8: The Ministry of Health and Population has decided to vaccinate the citizens who have not been able to get the second dose of Covishield on August 9 and 10.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 8: The Ministry of Health and Population has decided to vaccinate the citizens who have not been able to get the second dose of Covishield on August 9 and 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Of the 1.6 million doses provided by Japan under the Covax facility, 500,000 doses arrived in Kathmandu on Saturday (August 7). Minister of State for Health Umesh Shrestha said that 513,420 doses of vaccines have been received and another 500,000 doses would be delivered on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to Jhalak Sharma Gautam, head of the vaccination center under the Department of Health Services, the government has decided to vaccinate people above the age of 65 who have received the first dose of vaccine. They will be receiving the second dose from Monday. The vaccination would be conducted from the same vaccination centers from where they received the shots previously.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government had vaccinated people above the age of 65 from March 7 to March 16 earlier this year. Gautam said that although AstraZeneca and Covishield were produced in different places, both the vaccines are of the same nature and can be administered in each other’s place.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">"Covishield is also a vaccine based on AstraZeneca formula. It boosts the effectiveness of the AstraZeneca vaccine," he said. He said that 1.6 million doses of vaccines would be delivered from Japan by this week.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13533', 'image' => '20210808122501_56862824_303.jpg', 'article_date' => '2021-08-08 12:24:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13787', 'article_category_id' => '1', 'title' => 'Government Spends Rs 2 Billion in 20 Days', 'sub_title' => '', 'summary' => 'August 8: The government has spent nearly Rs 2 billion in the first 20 days of the current Fiscal Year 2078-79, according to the Office of the Auditor General.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: The government has spent nearly Rs 2 billion in the first 20 days of the current Fiscal Year 2078-79, according to the Office of the Auditor General. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The Office of the Auditor General has reportedly stated that a total of Rs 1.91 billion has been spent under different headings as of last Wednesday (August 4). According to the office, the majority of the budget was spent on current expenses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Department of Inland Revenue (DRI) has collected Rs 3.80 billion, or 3.31 percent of its target. This is higher than the target achieved during the corresponding period of the previous fiscal year, the Office of the Auditor General said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government has spent Rs 1.58 billion in current expenditure and Rs 330 million in capital expenditure in the review period, according to the office. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Economists say that the problem of less capital spending and postponement of development works has been a problem since the past and the government should address this issue. However, they claim that the problem was caused by procedural hassles rather than deliberate intention of not spending. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13532', 'image' => '20210808121610_1626564749.Clipboard20.jpg', 'article_date' => '2021-08-08 12:15:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13786', 'article_category_id' => '1', 'title' => 'Finance Committee directs NRB to bring Relief and Recovery Programmes ', 'sub_title' => '', 'summary' => 'August 8: The Finance Committee of the House of Representatives (HoR) has directed Nepal Rastra Bank (NRB) to give emphasis on the implementation of relief, subsidy and economic recovery programmes.', '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 8: The Finance Committee of the House of Representatives (HoR) has directed Nepal Rastra Bank (NRB) to give emphasis on the implementation of relief, subsidy and economic recovery programmes of the government by revitalizing the pandemic-battered economy through the monetary policy of the current fiscal year. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the committee Krishna Prasad Dahal informed that the committee has issued a 17-point directive to the central bank including promotion of key dynamic areas of economy and attaining the goal of rapid growth. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The committee directed the central bank to deposit the stipulated amount in the business regularization fund that was instituted to compensate the workers of small, cottage and big industries, tourism, private educational institution, transportation, film industry and media workers, and support the resumption of businesses. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson Dahal further shared that the Committee instructed the central bank to expand business area and ceiling amount as the NRB’s subsidized interest rate of 5 percent has positively impacted the COVID-19-affected enterprises. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee asked the central bank to widen the scope and limit of subsidized loan to be provided to the micro, small and medium-scale industry and commercial farming, youth, enterprises and returnees from foreign employment. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee’s Secretary Dr Surendra Aryal said that the committee also directed the NRB to make effective the programme to provide loan up to Rs 2.5 million at one percent interest rate to motivate youth entrepreneurs in start-up business. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee also asked the NRB to focus the monetary policy in mobilizing resource for economic growth, promotion of domestic entrepreneurship and export, replacement of import and production-oriented sector. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It instructed to make policy-level arrangements to maintain financial stability. The Committee suggested the central bank to make policy arrangement to check foreign reserve deficit and to discourage import of unnecessary luxury items. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the NRB has been asked to encourage merger of banks and financial institutions based on necessity, capacity and competition. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It also drew the attention of NRB to make various service charges provided by banks and financial institutions transparent.</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"">Likewise, the Committee also directed to restructure and reschedule the loan given to different enterprises in the current fiscal year by analyzing COVID-19 impact on the economy. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> It is stressed that the monetary policy should maintain broader economic stability, ensure sustainable development through rapid growth of economy, promote access to finance, ensure stability of the financial sector and development of safe, healthy and efficient payment system. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Commercial and development banks have been asked to immediately implement the provision of ensuring subsidized loans from their branches and to create employment through the subsidized loan scheme. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Committee has asked the central bank to implement the refinancing scheme by making procedures so that a large number of small enterprises could get benefit from it. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the Committee stated that the government institutions should be made result-oriented and run economically through austerity measures in the present context of COVID-19.-- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13531', 'image' => '20210808115506_2021030802161.jpg', 'article_date' => '2021-08-08 11:54:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13785', 'article_category_id' => '1', 'title' => 'Weekend Holidays of Domestic Tourists Boost Hotel Business around Kathmandu ', 'sub_title' => '', 'summary' => 'August 6: Hotels and resorts in tourist destinations in the vicinity of Kathmandu such as Nagarkot and Dhulikhel have started attracting domestic tourists.', 'content' => '<p><em>Photo Courtesy: Hotel Himalayan Villa</em></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"">August 6: Hotels and resorts in tourist destinations in the vicinity of Kathmandu such as Nagarkot and Dhulikhel have started attracting domestic tourists. Hotels and resorts in these locations are slowly picking up their business, especially due to weekend vacations, small workshops, and MICE tourism.</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"">Domestic tourists have started visiting these destinations after the government eased the prohibitory order imposed since April 29 and stepped up vaccination drive in recent days. According to the hoteliers, the occupancy of hotels and resorts in these destinations has reached 75 to 80 percent on weekends. Domestic tourists visit Nagarkot and Dhulikhel mostly on holidays.</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"">Entrepreneurs said that they are receiving encouraging guests during the weekend. Hira Shrestha, sales and marketing manager of Nagarkot-based Hotel Himalayan Villa, said that hotels in Nagarkot have occupancy up to 80 percent on weekends. On other days, the total occupancy is 5 to 10 percent, he added.</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"">"On other days, only 10/12 people come to the big hotels, and 5/7 people come to the small ones," he said.</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"">He said that despite the improvement in tourist arrivals and occupancy in January and February, it was not possible to do business after the prohibitory order was issued on April 29.</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"">He said that the hotel has been open since July 20, and domestic tourists have been coming sporadically. Shyam Mahat, managing director (MD) of Himalayan View Resort, said that the occupancy rate of his hotel is 7 to 8 percent.</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"">He said that although the number of domestic tourists has increased due to the easing of prohibitory order, the number of tourists has been declining for a few days now.</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"">Now, he says, tourist arrival has been low due to the panic and infection rate of the third wave of Covid-19.</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"">He said that they are providing services by fulfilling the health standards prescribed by the government.</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"">He said that it was necessary to bring a policy to provide relief to this business through monetary policy. Entrepreneurs have become enthusiastic after the coronavirus infection subsided and the resumption of vaccination drive. </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"">Prem Chandra Shrestha, president of Hotel Association Kavre, who is also the MD of Dhulikhel Luggage Resort, said that the occupancy of hotels here is 25 percent on average.</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 him, there are 50 hotels and resorts in Dhulikhel. Entrepreneurs are worried that the current transmission rate of Covid-19, which has been increasing for a few days, will reduce the current rate of arrival of domestic tourists to zero. </span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/The-Cafe-2.jpg" style="height:409px; width:545px" /></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13530', 'image' => '20210806025426_slide3.jpg', 'article_date' => '2021-08-06 14:52:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13784', 'article_category_id' => '1', 'title' => 'Gold Jewelry worth Rs 387 Million Exported in Last Fiscal Year', 'sub_title' => '', 'summary' => 'August 6: Gold jewelry worth Rs 387.17 million were exported from Nepal in the last fiscal year (FY 2077/78).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 6: Gold jewelry worth Rs 387.17 million were exported from Nepal in the last fiscal year (FY 2077/78). Based on quantity, 38 kg of gold jewelry were exported to different countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the foreign trade data released by the Department of Customs, the export of gold jewelry started last year after the HS code was issued. Statistics show gold jewelry was mostly exported to the United States, Australia and Hong Kong.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Among the three countries, maximum amount of gold jewelry was exported most to the United States. Jewelry worth Rs 286.09 million was exported there during the review period. Similarly, gold jewelry worth Rs 67 million was exported to Hong Kong and Rs 43.78 million to Australia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Prior to this, gold jewelry worth Rs 1.516 million were exported to China in the fiscal year 2072/73. After that, the data for the export of gold jewelry up to the previous fiscal year is not available. However, traders say that a small amount of gold jewelry may have been exported in between. The data of the department has shown that the export of gold jewelry has started on a large scale since the beginning of last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Gold jewelry has not been widely traded in the domestic market due to rising prices and the coronavirus pandemic. In such situation, traders have started exploring markets abroad and there has been positive response.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Lately, demand for gold jewelry from Nepalese citizens in countries like the USA, Hong Kong and Australia has been increasing. President of the Federation of Nepali Gold and Silver Dealers Association, Manik Ratna Shakya said that gold ornaments are in high demand from them. He says that jewelry of Nepali traditional designs are mostly demanded by them.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"They have been demanding non-foreign jewelry," he said. "There is a demand for Nepali authentic jewelry such as Tilaharai and bangles, which are not made abroad."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He says that the exports of gold jewelry will also go on increasing in upcoming days. “We have recently signed an agreement with Gateway Payment Nepal on international electronic payment services. Accordingly, foreign customers can now easily order jewelry by paying money online,” he said, adding, “Also, the way gold jewelry exports have increased in the last one year, it seems that its exports will increase further in the coming days.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13529', 'image' => '20210806024644_history-of-gold-jewelry.jpg', 'article_date' => '2021-08-06 14:45:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13782', 'article_category_id' => '1', 'title' => ' New Trekking Route to Mardi Himal Constructed ', 'sub_title' => '', 'summary' => 'August 6: A new trekking route leading to Mardi Himal has been constructed with the support from the Gandaki Province. ', 'content' => '<p><em>Mardi Himal along with Mt Machhapuchhre. Photo Courtesy: GVTrek</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 6: A new trekking route leading to Mardi Himal has been constructed with the support from the Gandaki Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the route that begins from Melbot in Pokhara Metropolitan City-25 passes through Astam, Dhital, Dhampus, Pritam Deurali, Dhital Lwang and Ghalel Kalimati. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project cost is approximately Rs 1.5 million. Gandaki Province has provided Rs 1 million provided for the project while the remaining amount has been contributed by a Germany-based organisation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many tourism infrastructures have been constructed on the way. The project aims to facilitate tourists, including domestic and foreign tourists, to reach the 5587 meters mountain that has attracted many tourists of late, the project coordinator Bishwo Adhikari, told RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stone floor tiles have been used on the two meters wide route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To reach the mountain, one can catch a vehicle up to Australian Camp through Dhampus, Kalimati and Siding from where they can use the route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have constructed a new route to the mountain. We believe that tourists on the way will be attracted to biodiversity and natural scenes like Laligurans(Rhododendron) forest, Rudramahadev and Panchebaja Park," RSS quoted Adhikari as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plans are afoot to construct a cycle lane on the way, said the project officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It requires additional Rs 5 million to expand the route to Dhital, said Adhikari, adding that the federal and provincial governments have been requested to support the project in this regard. </span></span></span></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13528', 'image' => '20210806110951_gvtrek_comxfish.jpg', 'article_date' => '2021-08-06 11:07:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13783', 'article_category_id' => '1', 'title' => 'Airlines Operators Pledge to Ensure Safety Measures Against COVID-19 ', 'sub_title' => '', 'summary' => 'August 6: The domestic airlines operators in Nepal have committed to operate flights ensuring preventive measures against COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 6: The domestic airlines operators in Nepal have committed to operate flights ensuring preventive measures against COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Airlines Operators Association of Nepal (AOAN), issuing a press statement on Wednesday, reaffirmed its commitment for continuous collaboration with the Ministry of Health and Population, COVID-19 Crisis Management Committee and Civil Aviation Authority of Nepal (CAAN) in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organization of airline operators shared that the private airlines were operating domestic flights in the wake of the second wave of COVID-19 ensuring measures to stem the spread of COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Private airlines have been implementing eight flights in an hour as per the CAAN’s flight schedule. The statement also said that the airline operators had been operating flights to various destinations in a reasonable fare in the context of road connectivity facing problems due to monsoon-induced disasters lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statement, the domestic airport in Kathmandu witnesses over 1,200 passengers travelling to and from various destinations in a day on average. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13527', 'image' => '20210806112032_20210221121806_Summit Air Landing.jpg', 'article_date' => '2021-08-06 11:19:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13781', 'article_category_id' => '1', 'title' => 'Monetary Policy for the Current Fiscal Year Likely to be Delayed ', 'sub_title' => '', 'summary' => 'August 5: Nepal Rastra Bank has indicated that the announcement of monetary policy will be delayed. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 5: Nepal Rastra Bank has indicated that the announcement of monetary policy will be delayed. NRB is preparing to release the monetary policy for the current fiscal year by looking at the priorities and projections of the new government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Governor of the central bank Maha Prasad Adhikari said that the monetary policy of the current fiscal year should be made public only after looking at the size, priority and projection of the new government's budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“After the change of government, we have to bring monetary policy based on the priorities and projections of the new government, so we are waiting for it,” he said at a meeting of the Finance Committee of Parliament on Wednesday (August 4). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that the preparation to announce the monetary policy is almost complete. However, as the government has changed and the monetary policy will be finalised only by looking at the plans and priorities of the new government, added Adhikari. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In previous years, there has never been any delay in announcing monetary policy later than July. However, although the month of July already has passed, Governor Adhikari did not give a concrete answer to the committee about the date of announcement of the monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The then KP Sharma Oli-led government had brought the budget for the current fiscal year through an ordinance on May 29. It has been three weeks since the budget brought by the then government was presented to the parliament by the current finance minister Janardan Sharma but the budget ordinance has not been discussed in the parliament. </span></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 Parliament Secretariat has not yet made an agenda to discuss the budget proposal registered in the Parliament. There is a provision that if the ordinance is not passed within 60 days of its submission to the parliament, it will be automatically repealed. There is a possibility that the budget ordinance will be repealed as this government has not shown much desire to implement the ordinance brought by the previous government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government led by Sher Bahadur Deuba, formed with the support of the five-party alliance, has been under pressure to bring a new budget by scrapping the budget brought through ordinance. Confusion over the budget has had an impact on monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Adhikari, the monetary policy, which is currently being prepared, will be improved on the basis of the current policy and priority of the government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The upcoming monetary policy will continue to provide concessions to coronavirus-affected areas and businesses, and with the possibility of third wave of coronavirus, the government will continue to prioritize concessional loan to prevent and control the disease and to sustain business. In the monetary policy that will be made public in a few days, NRB will continue the restructuring and rescheduling of loans. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Monetary policy needs to facilitate pandemic-affected areas and businesses," he said, “The second wave of Covid-19 and the impact of the prohibitory order on the businesses need to be addressed and the renewal and restructuring of loan should be continued on the basis of the impact.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At present, NRB is disbursing refinancing for various sectors up to Rs 200 billion, five times from its average fund of Rs 40 billion. The continuation of refinancing is being given to the areas directly affected by Covid-19 in the monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB is ready to control the import of luxury items to reduce the trade deficit and balance of payments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">For this, NRB will stop the import of luxury items and will pursue the policy of providing credit to the businesses that have come into operation for import substitution through monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As the development strategy of the financial sector and the fourth strategic plan of the Nepal Rastra Bank have to be prepared in the current Fiscal Year, the NRB will give priority to the monetary policy for the sustainable and inclusive development of the financial sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the governor's office, so far 20 percent of the loan has been provided to the business sector. A study by NRB has shown that a large amount of loan has not gone to the stock market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Governor Adhikari said that the profit was higher even after setting the interest rate threshold of microfinance at 15 percent. He did not elaborate on what the forthcoming monetary policy would do to this unnatural profit growth. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that the profit of the banks was satisfactory. Despite the government's support for concessional loans, many banks have not been able to enter the market as they do not want to take risks. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At the meeting of the Finance Committee, Chairman Krishna Prasad Dahal suggested NRB to bring monetary policy to strengthen the country's economy even if the debtors above 10 million are not given concession in interest rate. He also said that the country's economy would collapse if loans were provided to big industrialists at concessional rates. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In the meeting, the members of the committee expressed their concern over the growing trade deficit and drew the attention of Nepal Rastra Bank to find ways to reduce it. Committee member and former finance minister Barshaman Pun warned to stop import of luxury items to reduce trade deficit. Committee member and UML parliamentarian Metmani Chaudhary had said that the monetary policy should not be delayed. </span></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 Finance Committee is preparing to give recommendations for the monetary policy in a few days. Committee Chairman Krishna Dahal said that the work of preparing the report has already started. </span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13526', 'image' => '20210805024909_2021030802161.jpg', 'article_date' => '2021-08-05 14:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13780', 'article_category_id' => '1', 'title' => 'NEA Executive Director ‘Ready’ to go where ever Government Sends Him', 'sub_title' => '', 'summary' => 'August 5: Executive Director of Nepal Electricity Authority (NEA) Hitendra Dev Shakya has said that he is ready to go wherever the government sends him.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 5: Executive Director of Nepal Electricity Authority (NEA) Hitendra Dev Shakya has said that he is ready to go wherever the government sends him.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director Shakya stated that he was ready to go wherever he was needed as per the responsibilities handed to him. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"I’ve been asked whether I can be given any other responsibilities. I have already said that I am ready to go wherever I am sent in order to fulfill my responsibilities," he told reporters at the authority on Wednesday. “I belong to the technical field. I do planning as well. I will work at any place related to my field”.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director Shakya said that despite the Covid-19 pandemic and power outage during his tenure, he had worked without any problem in electricity. He claims that the power supply has been cut off less this year than in comparison to last year. He also said that arrangements have been made for the availability of electricity in hospitals round the clock. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Similarly, Dhalkebar 400 KV substation has been brought into operation and work on Upper Tamakoshi has been taken forward during his tenure. Shakya said that 13 more districts have been fully electrified and national grid electricity has been supplied to Karnali for the first time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shakya said leakage has increased as consumption has increased by 15 percent this year. He said that there has been a problem in monitoring and removing hook wires from door to door due to the impact of Covid-19. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to him, the leakage of electricity has increased by 1.6 percent. Shakya has even said that the leadership of the authority should not be changed in a way that insults him. "I am ready to resign in order to help the government by getting appointed at a new location. But I will go to court if I am unjustly removed," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Minister for Energy Pampha Bhusal and Prime Minister Sher Bahadur Deuba are not satisfied with Shakya. On Tuesday, Prime Minister Deuba called the Energy Minister and expressed interest in the leadership of the Electricity Authority, according to the Prime Minister's Secretariat. Subsequently, Energy Minister Bhusal called Shakya and inquired about his work.</span></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 Energy Minister herself is not satisfied with the performance of the current leadership of NEA. A few days ago, she had expressed her intention to change the leadership of NEA at a press conference held at the Ministry of Energy.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13525', 'image' => '20210805024734_1628138514.jpg', 'article_date' => '2021-08-05 14:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13779', 'article_category_id' => '1', 'title' => 'Government Preparing to Bring Kulman Ghising to NEA', 'sub_title' => '', 'summary' => 'August 5: The government is preparing to appoint Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 5: The government is preparing to appoint Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Prime Minister Sher Bahadur Deuba summoned Minister for Energy, Water Resources and Irrigation, Pampha Bhusal to Baluwatar earlier this week and asked her to expedite the process of appointing Kulman as the NEA chief, according to the Prime Minister's Secretariat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following the directive of Prime Minister Deuba, Minister Bhusal has even started the 'process' to appoint Ghising as the executive director of NEA. In an introductory program with reporters a few days ago, Energy Minister Bhusal said that she was the sixth energy minister from the Maoist party and would continue the good work done by the previous ministers. In this regard, she had expressed her intention to form a team that would do a good job in the energy sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, it has been learnt that Kulman Ghising was her priority. She also expressed her dissatisfaction with the current leadership of the Electricity Authority. Within hours of the Prime Minister's directive, Energy Minister Bhusal summoned the current NEA Executive Director Hitendra Dev Shakya on Tuesday and instructed him to resign.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to a source at the Prime Minister's Office, it has been reported that the revenue of NEA has declined ever since Hitendra Dev Shakya held the responsibility of the NEA chief. There were reports of increase in unauthorized power cuts and power leakages. Minister Bhusal has already asked Shakya to resign. But, NEA Executive Director Shakya has refused to resign so far. Bhusal had demanded Shakya's resignation due to his poor performance. However, as per the sources, Shakya refused to resign saying that he has been appointed for a period of 4 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Shakya, who has been the acting executive director since 11 November 2020, was appointed as the executive director by the then KP Sharma Oli-led government on 8 February 2021. Ghising, who was in charge of NEA before Shakya, had ended load shedding of 18 hours a day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As Ghising took over the Nepal Electricity Authority, which had been running at a loss continuously, a profit of Rs 11 billion was reported in the fiscal year 2076/77. Ghising, who was appointed as the executive director on September 14, 2016, had made a profit of Rs 5 billion from the accumulated deficit of Rs 34 billion during his tenure. Ghising's term ended on 13 September 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite calls for Ghising to be re-appointed as NEA's executive director, then-Prime Minister Oli did not show "interest" in this matter. The then energy minister, Barsaman Pun, had lobbied for Ghising’s reappointment, but his attempt was unsuccessful. About five months after the end of Ghising's tenure, the government had appointed Hitendra Dev Shakya as the Executive Director of NEA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Shakya was directly appointed by the Council of Ministers. Ghising was appointed through a competition. Ghising was appointed by the government after a three-day notice was issued by the then Energy Minister Janardan Sharma to nominate Madhu Bhetwal, Kulman Ghising and Navin Singh to the cabinet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><strong>Can the cabinet remove the current head?</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Although the latest amendment to the Nepal Electricity Authority Act in 2075 BS does not mention that appointments should be made through competition, the government can dismiss Shakya even if he refuses to resign. The amended act states, "The chief executive will be appointed by the Government of Nepal." According to sources at the Ministry of Energy, Ghising was once selected from the competition and his tenure has been successful. Thus, this time, he can be appointed directly by dismissing Shakya. A few days ago, an agreement was reached between the five-party coalition to remove all political appointments made by the previous government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As the then government directly appointed Shakya, the government could remove him on the basis of the decision of the cabinet meeting, said a source close to the energy minister. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13524', 'image' => '20210805012307_20210514031053_NEA.jpg', 'article_date' => '2021-08-05 13:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13778', 'article_category_id' => '1', 'title' => 'Finance Minister for Policy-Level Intervention to Uplift State-Owned Corporations ', 'sub_title' => '', 'summary' => 'August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He also instructed them to formulate plans and policies to make such problematic corporations reach profitable condition, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Finance Madhu Kumar Marasini spoke of the need to revamp and reform problematic public corporations. Among the total 44 state-owned public corporation, 24 had amassed profits while remaining 18 were running on loss. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Marasini, the government has invested over Rs 600 billion on those corporations but much to the dismay of the government and public, such corporations have not been able to generate employments to over 30,000 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Such corporations have become a liability to the government instead of profit-making institutions, RSS quoted Marasini as saying. The corporations have put additional responsibilities on the government, viewed Marasini, adding that even those corporations that were privatized to earn profits were running on loss. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He too pressed for reforms of such corporations at policy and legal level. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Division Dirgharaj Mainali, presenting the details on the status of the corporations, shared that Nepal Oil Corporation, Nepal Electricity Authority, Nepal Telecommunications Company Limited, Nepal Banijya Bank Limited and Agriculture Development Bank among others were in profit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the 44 state-run corporations, 10 are related to industrial sector, nine related to trade, nine related to finances, five related to social sector and 10 related to service sector. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13523', 'image' => '20210805114045_1628089106.jpg', 'article_date' => '2021-08-05 11:39:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13777', 'article_category_id' => '1', 'title' => 'NEPSE Index Hits Record 3,123 Points ', 'sub_title' => '', 'summary' => 'August 5: The Nepal Stock Exchange (NEPSE) index continues to record a new history.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 5: The Nepal Stock Exchange (NEPSE) index continues to record a new history. On Wednesday (August 4), the second-last trading day of this week, the NEPSE index posted a double digit gain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The index rose 12.05 points to close at 3,123.14. The transaction amount stood at over Rs 15.5 billion. Likewise, the sensitive index increased 0.71 points to stand at 578.23. Over 28 million shares of 225 companies were traded during this period.</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"">Of the total 13 subgroups, six increased and seven decreased. Banking sector gained 4.29 points, development banks 65.85, hydropower 194.07, finance 45.05, production 27.84 and investment 0.34. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, trade slumped 60 points while hotel and tourism 7.77, non-life insurance 82.98, others 21.01, microfinance 126.33, life insurance 2.75 and mutual fund 0.12. </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 companies that hit the upper circuit of 10 percent were Api Power Company Limited, Khanikhola Hydropower Company Limited, Dibyashwori Hydropower Limited, Kalika Power Company Limited, Upper Tamakoshi, Ghalemdi Hydro Limited, Union Life Insurance and Jeevan Bikas Laghubitta Bittiya Sanstha Limited. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13522', 'image' => '20210805111425_20210203112246_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2021-08-05 11:13:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13776', 'article_category_id' => '1', 'title' => 'CSR activities of Banks Concentrated in Bagmati Province: NRB Study', 'sub_title' => '', 'summary' => 'August 4: A study conducted by Nepal Rastra Bank (NRB) on Corporate Social Responsibility (CSR) programmes of banks and financial institutions (BFIs) has shown that the CSR programmes of commercial banks have not been equally divided in various provinces.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 4: A study conducted by Nepal Rastra Bank (NRB) on Corporate Social Responsibility (CSR) programmes of banks and financial institutions (BFIs) has shown that the CSR programmes of commercial banks have not been equally divided in various provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the study, the commercial banks spend more than two-third of funds for CSR in Bagmati Province. The study has also shown that the commercial banks spent 67.95 percent of CSR fund in Bagmati Province in fiscal year 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Since FY 2076/77, commercial banks are required to spend a minimum of 10 percent of the CSR amount in each province. However, the study has shown that commercial banks have not implemented CSR programmes in the prescribed proportion. According to the study, except Bagmati Province, less than 10 percent CSR amount has been spent in other provinces in the fiscal year 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Among the seven provinces, the banks have spent the least amount in Karnali Province. Only 3.56 percent of funds allocated for CSR have been spent in Karnali Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study has shown that the share of CSR-related expenditure by banks is increasing. In FY 2075/76, commercial banks in Bagmati Province had spent about 75 percent of the CSR fund. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the same year, 1.13 percent CSR fund was spent in Karnali Province. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Executive director of NRB Prakash Kumar Shrestha said that the CSR programme of commercial banks is not balanced in every province. He is of the view that this may have been due to high demand in Bagmati due to various reasons. However, the CSR programme needs to be balanced as per the prescribed proportions. “Now we have brought out the real situation of the CSR programme. The reason behind the unbalanced distribution of CSR programmes needs to be further studied,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">He also said that the ratio of spending to CSR has not been implemented. “The central bank has directed commercial banks to spend a minimum of 10 percent of fund allocated for CSR in a province. However, it has not been implemented yet,” he said, “But there has been improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Although the CSR programme of commercial banks is not balanced in all provinces, the overall banks and financial institutions have spent more than the stipulated amount on CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">BFIs are required to spend at least one percent of their net profit on CSR. However, the study has shown that they spent 1.58 percent of their profit. They have spent Rs 1.28 billion on CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the study, A-class commercial banks have been allocating 1.54 percent of the profit for CSR on average. Similarly, Class B banks have been allocating 1.55 per cent, Class C finance companies 1.66 per cent and Class D microfinance institutions 2.1 per cent for CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Many banks and financial institutions participating in the survey have been conducting CSR programmes for the purpose of building their reputation. Similarly, the study has shown that such programmes are also done for business growth and customer satisfaction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Likewise, 85 percent of banks and financial institutions have their own corporate social responsibility policy. Moreover, the study has shown that 51 percent banks and financial institutions make annual plans in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In FY 2075/76, 35 percent of the commercial banks disclosed sectoral expenditure from the CSR Fund in their annual report, which increased to 38 percent in FY 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Furthermore, in FY 2075/76, 12 percent of the commercial banks disclosed the provincial expenditure from the CSR Fund in the annual report, which increased to 30.8 percent in FY 2076/77. However, according to the study, the expenditure details of the CSR fund have not been disclosed in the annual report as instructed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB had conducted a survey in this regard through virtual medium from November 5 to December 11. This is also the first survey on CSR. Most of the commercial banks had participated in the survey. Besides, Shrestha said that development banks, finance companies and microfinance financial institutions were also brought under the scope of the survey.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">“We conducted a survey in this regard by bringing limited information in a limited time. Therefore, it is not complete in itself,” he said, “Nevertheless, it shows the real state of the CSR programme. As a result, this survey will help us make additional policy arrangements in this regard.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study has shown that the CSR programme needs to have a balance in terms of geographyl and region. In addition, Shrestha said that there is a need for clear guidance and direction to make CSR-related expenditure transparent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study also explores various aspects of CSR in the Nepal’s banking sector. According to the study, the size of the CSR fund is increasing and its proper use can have social benefits to the economy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-04', 'modified' => '2021-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '13521', 'image' => '20210804022551_20210308021619_20201228012934_20201106055408_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-04 14:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '13790', 'article_category_id' => '1', 'title' => 'CAAN Employees Unveil Protest Programmes against the Decision to Split the Aviation Authority ', 'sub_title' => '', 'summary' => 'August 9: Five different unions of employees affiliated to the Civil Aviation Authority of Nepal (CAAN) have made public their protest programmes against the two bills that propose splitting the CAAN into an air service provider and a regulatory body.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 9: Five different unions of employees affiliated to the Civil Aviation Authority of Nepal (CAAN) have made public their protest programmes against the two bills that propose splitting the CAAN into an air service provider and a regulatory body. As soon as the bill was passed by the National Assembly last Monday, the employees' union made public the protest programme to revoke the decision.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">These bills have not been passed by the House of Representatives yet. The employees have voiced their opposition against the 'Nepal Aviation Authority Bill -2076' and 'Nepal Civil Aviation Authority Bill-2076' before the lower house takes a final decision to approve them. In a press statement issued on Sunday, the unions said that the bills were against the national interest as a whole and could raise serious questions about aviation security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They say that the bill has been brought in an unplanned manner to make the air service more expensive by handing over the Tribhuvan International Airport to the private sector. The press statement accused the government to weaken the CAAN in the name of transforming it.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The agitation programme will include pen down every day from 10 am to 1 pm and picketing the office of the Director-General of CAAN from 12 noon to 1 pm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the press statement further mentions that the protest would be intensified if their demands are not addressed and the bills withdrawn.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The statement has the signatures of Min Prasad Khanal of CAAN's Employees Union, Ajit Kumar Gupta of Madhesh Terai Employees Union, Laxman Kumar Giri of Democratic Employees Union, Nanda Prasad Timilsina of National Employees Union, and Shravan Kumar Yadav of Nepal National Employees Union. The bill was registered by the then Tourism Minister Yogesh Bhattarai in the National Assembly on March 26, 2019.</span></span></span></span></p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-09', 'modified' => '2021-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '13535', 'image' => '20210809112234_20200827042104_1598477546.Clipboard08.jpg', 'article_date' => '2021-08-09 11:21:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13789', 'article_category_id' => '1', 'title' => 'Nepali Nationals going for Foreign Employment Down by 55 Percent', 'sub_title' => '', 'summary' => 'August 8: The number of Nepali migrant workers going for foreign employment has declined by 55 percent in the last Fiscal Year (FY) 2077/78', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 8: The number of Nepali migrant workers going for foreign employment has declined by 55 percent in the last Fiscal Year (FY) 2077/78.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the previous FY 2076/77, the number of workers going for foreign employment had also declined by 28 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the annual report made public by the Department of Foreign Employment last year, only 166, 698 Nepali workers have gone for foreign employment in the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the previous fiscal year 2076/77, a total of 368, 433 Nepali workers had one for foreign employment. The data of the department shows that 508, 828 Nepalis went for foreign employment in FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">By renewing the labor permit, 72,081 new workers (those who got new labor permits) went to foreign employment last year. In the previous fiscal year 190,453 new workers had gone for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Last year, Nepalis went to 116 countries including the UAE, Japan, Romania, Malaysia, Qatar, Saudi Arabia, Bahrain, South Korea, and Cyprus for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Most of the workers have gone to Qatar. A total of 54,915 workers went to Qatar last year. Likewise, 46,960 workers have gone to Saudi Arabia. Similarly, the data of the department shows that 40,477 workers have gone to the UAE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Under normal circumstances, 400,000 to 500,000 workers from Nepal go for foreign employment every year. However, according to the department, the number of workers going for foreign employment has declined sharply in the last two years due to the impact of Covid-19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Stating that the number of workers going for foreign employment has decreased due to the pandemic, Mahendra Nath Bhattarai, information officer of the department said, “Most of the countries in the world including Nepal have imposed lockdown to control the global spread of the pandemic.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">“As a result, an economic crisis has been seen in the labor destination countries. Employer companies have been shut down, and workers have been laid off,” he added, “These are the reasons for the declining number of workers going for foreign employment.” Meanwhile, the demand for workers has also declined sharply.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The number of workers going for foreign employment had decreased in the fiscal year 2076/77 BS due to the postponement of the work permit and the extended lockdown from March 24, 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government had postponed the approval of work permits for foreign employment on March 11, 2020 and started giving permission from June 28, 2020. Likewise, the government started giving new work permits from September 2. Since then, Nepalis have started going for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the department, the number of workers going for foreign employment has been increasing recently.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">"The demand for workers has been increasing lately. As a result, the number of workers for foreign employment has been increasing in recent times,” said Bhattarai.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13534', 'image' => '20210808022447_20210403032054_Foreign Employment.jpg', 'article_date' => '2021-08-08 14:23:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13788', 'article_category_id' => '1', 'title' => 'Second Dose of AstraZeneca Vaccine to be Administered on Monday and Tuesday', 'sub_title' => '', 'summary' => 'August 8: The Ministry of Health and Population has decided to vaccinate the citizens who have not been able to get the second dose of Covishield on August 9 and 10.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 8: The Ministry of Health and Population has decided to vaccinate the citizens who have not been able to get the second dose of Covishield on August 9 and 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Of the 1.6 million doses provided by Japan under the Covax facility, 500,000 doses arrived in Kathmandu on Saturday (August 7). Minister of State for Health Umesh Shrestha said that 513,420 doses of vaccines have been received and another 500,000 doses would be delivered on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to Jhalak Sharma Gautam, head of the vaccination center under the Department of Health Services, the government has decided to vaccinate people above the age of 65 who have received the first dose of vaccine. They will be receiving the second dose from Monday. The vaccination would be conducted from the same vaccination centers from where they received the shots previously.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government had vaccinated people above the age of 65 from March 7 to March 16 earlier this year. Gautam said that although AstraZeneca and Covishield were produced in different places, both the vaccines are of the same nature and can be administered in each other’s place.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">"Covishield is also a vaccine based on AstraZeneca formula. It boosts the effectiveness of the AstraZeneca vaccine," he said. He said that 1.6 million doses of vaccines would be delivered from Japan by this week.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13533', 'image' => '20210808122501_56862824_303.jpg', 'article_date' => '2021-08-08 12:24:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13787', 'article_category_id' => '1', 'title' => 'Government Spends Rs 2 Billion in 20 Days', 'sub_title' => '', 'summary' => 'August 8: The government has spent nearly Rs 2 billion in the first 20 days of the current Fiscal Year 2078-79, according to the Office of the Auditor General.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: The government has spent nearly Rs 2 billion in the first 20 days of the current Fiscal Year 2078-79, according to the Office of the Auditor General. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The Office of the Auditor General has reportedly stated that a total of Rs 1.91 billion has been spent under different headings as of last Wednesday (August 4). According to the office, the majority of the budget was spent on current expenses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Department of Inland Revenue (DRI) has collected Rs 3.80 billion, or 3.31 percent of its target. This is higher than the target achieved during the corresponding period of the previous fiscal year, the Office of the Auditor General said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government has spent Rs 1.58 billion in current expenditure and Rs 330 million in capital expenditure in the review period, according to the office. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Economists say that the problem of less capital spending and postponement of development works has been a problem since the past and the government should address this issue. However, they claim that the problem was caused by procedural hassles rather than deliberate intention of not spending. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13532', 'image' => '20210808121610_1626564749.Clipboard20.jpg', 'article_date' => '2021-08-08 12:15:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13786', 'article_category_id' => '1', 'title' => 'Finance Committee directs NRB to bring Relief and Recovery Programmes ', 'sub_title' => '', 'summary' => 'August 8: The Finance Committee of the House of Representatives (HoR) has directed Nepal Rastra Bank (NRB) to give emphasis on the implementation of relief, subsidy and economic recovery programmes.', '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 8: The Finance Committee of the House of Representatives (HoR) has directed Nepal Rastra Bank (NRB) to give emphasis on the implementation of relief, subsidy and economic recovery programmes of the government by revitalizing the pandemic-battered economy through the monetary policy of the current fiscal year. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the committee Krishna Prasad Dahal informed that the committee has issued a 17-point directive to the central bank including promotion of key dynamic areas of economy and attaining the goal of rapid growth. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The committee directed the central bank to deposit the stipulated amount in the business regularization fund that was instituted to compensate the workers of small, cottage and big industries, tourism, private educational institution, transportation, film industry and media workers, and support the resumption of businesses. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson Dahal further shared that the Committee instructed the central bank to expand business area and ceiling amount as the NRB’s subsidized interest rate of 5 percent has positively impacted the COVID-19-affected enterprises. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee asked the central bank to widen the scope and limit of subsidized loan to be provided to the micro, small and medium-scale industry and commercial farming, youth, enterprises and returnees from foreign employment. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee’s Secretary Dr Surendra Aryal said that the committee also directed the NRB to make effective the programme to provide loan up to Rs 2.5 million at one percent interest rate to motivate youth entrepreneurs in start-up business. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee also asked the NRB to focus the monetary policy in mobilizing resource for economic growth, promotion of domestic entrepreneurship and export, replacement of import and production-oriented sector. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It instructed to make policy-level arrangements to maintain financial stability. The Committee suggested the central bank to make policy arrangement to check foreign reserve deficit and to discourage import of unnecessary luxury items. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the NRB has been asked to encourage merger of banks and financial institutions based on necessity, capacity and competition. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It also drew the attention of NRB to make various service charges provided by banks and financial institutions transparent.</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"">Likewise, the Committee also directed to restructure and reschedule the loan given to different enterprises in the current fiscal year by analyzing COVID-19 impact on the economy. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> It is stressed that the monetary policy should maintain broader economic stability, ensure sustainable development through rapid growth of economy, promote access to finance, ensure stability of the financial sector and development of safe, healthy and efficient payment system. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Commercial and development banks have been asked to immediately implement the provision of ensuring subsidized loans from their branches and to create employment through the subsidized loan scheme. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Committee has asked the central bank to implement the refinancing scheme by making procedures so that a large number of small enterprises could get benefit from it. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the Committee stated that the government institutions should be made result-oriented and run economically through austerity measures in the present context of COVID-19.-- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13531', 'image' => '20210808115506_2021030802161.jpg', 'article_date' => '2021-08-08 11:54:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13785', 'article_category_id' => '1', 'title' => 'Weekend Holidays of Domestic Tourists Boost Hotel Business around Kathmandu ', 'sub_title' => '', 'summary' => 'August 6: Hotels and resorts in tourist destinations in the vicinity of Kathmandu such as Nagarkot and Dhulikhel have started attracting domestic tourists.', 'content' => '<p><em>Photo Courtesy: Hotel Himalayan Villa</em></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"">August 6: Hotels and resorts in tourist destinations in the vicinity of Kathmandu such as Nagarkot and Dhulikhel have started attracting domestic tourists. Hotels and resorts in these locations are slowly picking up their business, especially due to weekend vacations, small workshops, and MICE tourism.</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"">Domestic tourists have started visiting these destinations after the government eased the prohibitory order imposed since April 29 and stepped up vaccination drive in recent days. According to the hoteliers, the occupancy of hotels and resorts in these destinations has reached 75 to 80 percent on weekends. Domestic tourists visit Nagarkot and Dhulikhel mostly on holidays.</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"">Entrepreneurs said that they are receiving encouraging guests during the weekend. Hira Shrestha, sales and marketing manager of Nagarkot-based Hotel Himalayan Villa, said that hotels in Nagarkot have occupancy up to 80 percent on weekends. On other days, the total occupancy is 5 to 10 percent, he added.</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"">"On other days, only 10/12 people come to the big hotels, and 5/7 people come to the small ones," he said.</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"">He said that despite the improvement in tourist arrivals and occupancy in January and February, it was not possible to do business after the prohibitory order was issued on April 29.</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"">He said that the hotel has been open since July 20, and domestic tourists have been coming sporadically. Shyam Mahat, managing director (MD) of Himalayan View Resort, said that the occupancy rate of his hotel is 7 to 8 percent.</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"">He said that although the number of domestic tourists has increased due to the easing of prohibitory order, the number of tourists has been declining for a few days now.</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"">Now, he says, tourist arrival has been low due to the panic and infection rate of the third wave of Covid-19.</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"">He said that they are providing services by fulfilling the health standards prescribed by the government.</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"">He said that it was necessary to bring a policy to provide relief to this business through monetary policy. Entrepreneurs have become enthusiastic after the coronavirus infection subsided and the resumption of vaccination drive. </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"">Prem Chandra Shrestha, president of Hotel Association Kavre, who is also the MD of Dhulikhel Luggage Resort, said that the occupancy of hotels here is 25 percent on average.</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 him, there are 50 hotels and resorts in Dhulikhel. Entrepreneurs are worried that the current transmission rate of Covid-19, which has been increasing for a few days, will reduce the current rate of arrival of domestic tourists to zero. </span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/The-Cafe-2.jpg" style="height:409px; width:545px" /></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13530', 'image' => '20210806025426_slide3.jpg', 'article_date' => '2021-08-06 14:52:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13784', 'article_category_id' => '1', 'title' => 'Gold Jewelry worth Rs 387 Million Exported in Last Fiscal Year', 'sub_title' => '', 'summary' => 'August 6: Gold jewelry worth Rs 387.17 million were exported from Nepal in the last fiscal year (FY 2077/78).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 6: Gold jewelry worth Rs 387.17 million were exported from Nepal in the last fiscal year (FY 2077/78). Based on quantity, 38 kg of gold jewelry were exported to different countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the foreign trade data released by the Department of Customs, the export of gold jewelry started last year after the HS code was issued. Statistics show gold jewelry was mostly exported to the United States, Australia and Hong Kong.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Among the three countries, maximum amount of gold jewelry was exported most to the United States. Jewelry worth Rs 286.09 million was exported there during the review period. Similarly, gold jewelry worth Rs 67 million was exported to Hong Kong and Rs 43.78 million to Australia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Prior to this, gold jewelry worth Rs 1.516 million were exported to China in the fiscal year 2072/73. After that, the data for the export of gold jewelry up to the previous fiscal year is not available. However, traders say that a small amount of gold jewelry may have been exported in between. The data of the department has shown that the export of gold jewelry has started on a large scale since the beginning of last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Gold jewelry has not been widely traded in the domestic market due to rising prices and the coronavirus pandemic. In such situation, traders have started exploring markets abroad and there has been positive response.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Lately, demand for gold jewelry from Nepalese citizens in countries like the USA, Hong Kong and Australia has been increasing. President of the Federation of Nepali Gold and Silver Dealers Association, Manik Ratna Shakya said that gold ornaments are in high demand from them. He says that jewelry of Nepali traditional designs are mostly demanded by them.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"They have been demanding non-foreign jewelry," he said. "There is a demand for Nepali authentic jewelry such as Tilaharai and bangles, which are not made abroad."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He says that the exports of gold jewelry will also go on increasing in upcoming days. “We have recently signed an agreement with Gateway Payment Nepal on international electronic payment services. Accordingly, foreign customers can now easily order jewelry by paying money online,” he said, adding, “Also, the way gold jewelry exports have increased in the last one year, it seems that its exports will increase further in the coming days.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13529', 'image' => '20210806024644_history-of-gold-jewelry.jpg', 'article_date' => '2021-08-06 14:45:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13782', 'article_category_id' => '1', 'title' => ' New Trekking Route to Mardi Himal Constructed ', 'sub_title' => '', 'summary' => 'August 6: A new trekking route leading to Mardi Himal has been constructed with the support from the Gandaki Province. ', 'content' => '<p><em>Mardi Himal along with Mt Machhapuchhre. Photo Courtesy: GVTrek</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 6: A new trekking route leading to Mardi Himal has been constructed with the support from the Gandaki Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the route that begins from Melbot in Pokhara Metropolitan City-25 passes through Astam, Dhital, Dhampus, Pritam Deurali, Dhital Lwang and Ghalel Kalimati. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project cost is approximately Rs 1.5 million. Gandaki Province has provided Rs 1 million provided for the project while the remaining amount has been contributed by a Germany-based organisation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many tourism infrastructures have been constructed on the way. The project aims to facilitate tourists, including domestic and foreign tourists, to reach the 5587 meters mountain that has attracted many tourists of late, the project coordinator Bishwo Adhikari, told RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stone floor tiles have been used on the two meters wide route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To reach the mountain, one can catch a vehicle up to Australian Camp through Dhampus, Kalimati and Siding from where they can use the route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have constructed a new route to the mountain. We believe that tourists on the way will be attracted to biodiversity and natural scenes like Laligurans(Rhododendron) forest, Rudramahadev and Panchebaja Park," RSS quoted Adhikari as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plans are afoot to construct a cycle lane on the way, said the project officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It requires additional Rs 5 million to expand the route to Dhital, said Adhikari, adding that the federal and provincial governments have been requested to support the project in this regard. </span></span></span></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13528', 'image' => '20210806110951_gvtrek_comxfish.jpg', 'article_date' => '2021-08-06 11:07:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13783', 'article_category_id' => '1', 'title' => 'Airlines Operators Pledge to Ensure Safety Measures Against COVID-19 ', 'sub_title' => '', 'summary' => 'August 6: The domestic airlines operators in Nepal have committed to operate flights ensuring preventive measures against COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 6: The domestic airlines operators in Nepal have committed to operate flights ensuring preventive measures against COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Airlines Operators Association of Nepal (AOAN), issuing a press statement on Wednesday, reaffirmed its commitment for continuous collaboration with the Ministry of Health and Population, COVID-19 Crisis Management Committee and Civil Aviation Authority of Nepal (CAAN) in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organization of airline operators shared that the private airlines were operating domestic flights in the wake of the second wave of COVID-19 ensuring measures to stem the spread of COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Private airlines have been implementing eight flights in an hour as per the CAAN’s flight schedule. The statement also said that the airline operators had been operating flights to various destinations in a reasonable fare in the context of road connectivity facing problems due to monsoon-induced disasters lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statement, the domestic airport in Kathmandu witnesses over 1,200 passengers travelling to and from various destinations in a day on average. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13527', 'image' => '20210806112032_20210221121806_Summit Air Landing.jpg', 'article_date' => '2021-08-06 11:19:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13781', 'article_category_id' => '1', 'title' => 'Monetary Policy for the Current Fiscal Year Likely to be Delayed ', 'sub_title' => '', 'summary' => 'August 5: Nepal Rastra Bank has indicated that the announcement of monetary policy will be delayed. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 5: Nepal Rastra Bank has indicated that the announcement of monetary policy will be delayed. NRB is preparing to release the monetary policy for the current fiscal year by looking at the priorities and projections of the new government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Governor of the central bank Maha Prasad Adhikari said that the monetary policy of the current fiscal year should be made public only after looking at the size, priority and projection of the new government's budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“After the change of government, we have to bring monetary policy based on the priorities and projections of the new government, so we are waiting for it,” he said at a meeting of the Finance Committee of Parliament on Wednesday (August 4). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that the preparation to announce the monetary policy is almost complete. However, as the government has changed and the monetary policy will be finalised only by looking at the plans and priorities of the new government, added Adhikari. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In previous years, there has never been any delay in announcing monetary policy later than July. However, although the month of July already has passed, Governor Adhikari did not give a concrete answer to the committee about the date of announcement of the monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The then KP Sharma Oli-led government had brought the budget for the current fiscal year through an ordinance on May 29. It has been three weeks since the budget brought by the then government was presented to the parliament by the current finance minister Janardan Sharma but the budget ordinance has not been discussed in the parliament. </span></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 Parliament Secretariat has not yet made an agenda to discuss the budget proposal registered in the Parliament. There is a provision that if the ordinance is not passed within 60 days of its submission to the parliament, it will be automatically repealed. There is a possibility that the budget ordinance will be repealed as this government has not shown much desire to implement the ordinance brought by the previous government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government led by Sher Bahadur Deuba, formed with the support of the five-party alliance, has been under pressure to bring a new budget by scrapping the budget brought through ordinance. Confusion over the budget has had an impact on monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Adhikari, the monetary policy, which is currently being prepared, will be improved on the basis of the current policy and priority of the government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The upcoming monetary policy will continue to provide concessions to coronavirus-affected areas and businesses, and with the possibility of third wave of coronavirus, the government will continue to prioritize concessional loan to prevent and control the disease and to sustain business. In the monetary policy that will be made public in a few days, NRB will continue the restructuring and rescheduling of loans. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Monetary policy needs to facilitate pandemic-affected areas and businesses," he said, “The second wave of Covid-19 and the impact of the prohibitory order on the businesses need to be addressed and the renewal and restructuring of loan should be continued on the basis of the impact.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At present, NRB is disbursing refinancing for various sectors up to Rs 200 billion, five times from its average fund of Rs 40 billion. The continuation of refinancing is being given to the areas directly affected by Covid-19 in the monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB is ready to control the import of luxury items to reduce the trade deficit and balance of payments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">For this, NRB will stop the import of luxury items and will pursue the policy of providing credit to the businesses that have come into operation for import substitution through monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As the development strategy of the financial sector and the fourth strategic plan of the Nepal Rastra Bank have to be prepared in the current Fiscal Year, the NRB will give priority to the monetary policy for the sustainable and inclusive development of the financial sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the governor's office, so far 20 percent of the loan has been provided to the business sector. A study by NRB has shown that a large amount of loan has not gone to the stock market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Governor Adhikari said that the profit was higher even after setting the interest rate threshold of microfinance at 15 percent. He did not elaborate on what the forthcoming monetary policy would do to this unnatural profit growth. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that the profit of the banks was satisfactory. Despite the government's support for concessional loans, many banks have not been able to enter the market as they do not want to take risks. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At the meeting of the Finance Committee, Chairman Krishna Prasad Dahal suggested NRB to bring monetary policy to strengthen the country's economy even if the debtors above 10 million are not given concession in interest rate. He also said that the country's economy would collapse if loans were provided to big industrialists at concessional rates. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In the meeting, the members of the committee expressed their concern over the growing trade deficit and drew the attention of Nepal Rastra Bank to find ways to reduce it. Committee member and former finance minister Barshaman Pun warned to stop import of luxury items to reduce trade deficit. Committee member and UML parliamentarian Metmani Chaudhary had said that the monetary policy should not be delayed. </span></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 Finance Committee is preparing to give recommendations for the monetary policy in a few days. Committee Chairman Krishna Dahal said that the work of preparing the report has already started. </span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13526', 'image' => '20210805024909_2021030802161.jpg', 'article_date' => '2021-08-05 14:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13780', 'article_category_id' => '1', 'title' => 'NEA Executive Director ‘Ready’ to go where ever Government Sends Him', 'sub_title' => '', 'summary' => 'August 5: Executive Director of Nepal Electricity Authority (NEA) Hitendra Dev Shakya has said that he is ready to go wherever the government sends him.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 5: Executive Director of Nepal Electricity Authority (NEA) Hitendra Dev Shakya has said that he is ready to go wherever the government sends him.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director Shakya stated that he was ready to go wherever he was needed as per the responsibilities handed to him. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"I’ve been asked whether I can be given any other responsibilities. I have already said that I am ready to go wherever I am sent in order to fulfill my responsibilities," he told reporters at the authority on Wednesday. “I belong to the technical field. I do planning as well. I will work at any place related to my field”.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director Shakya said that despite the Covid-19 pandemic and power outage during his tenure, he had worked without any problem in electricity. He claims that the power supply has been cut off less this year than in comparison to last year. He also said that arrangements have been made for the availability of electricity in hospitals round the clock. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Similarly, Dhalkebar 400 KV substation has been brought into operation and work on Upper Tamakoshi has been taken forward during his tenure. Shakya said that 13 more districts have been fully electrified and national grid electricity has been supplied to Karnali for the first time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shakya said leakage has increased as consumption has increased by 15 percent this year. He said that there has been a problem in monitoring and removing hook wires from door to door due to the impact of Covid-19. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to him, the leakage of electricity has increased by 1.6 percent. Shakya has even said that the leadership of the authority should not be changed in a way that insults him. "I am ready to resign in order to help the government by getting appointed at a new location. But I will go to court if I am unjustly removed," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Minister for Energy Pampha Bhusal and Prime Minister Sher Bahadur Deuba are not satisfied with Shakya. On Tuesday, Prime Minister Deuba called the Energy Minister and expressed interest in the leadership of the Electricity Authority, according to the Prime Minister's Secretariat. Subsequently, Energy Minister Bhusal called Shakya and inquired about his work.</span></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 Energy Minister herself is not satisfied with the performance of the current leadership of NEA. A few days ago, she had expressed her intention to change the leadership of NEA at a press conference held at the Ministry of Energy.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13525', 'image' => '20210805024734_1628138514.jpg', 'article_date' => '2021-08-05 14:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13779', 'article_category_id' => '1', 'title' => 'Government Preparing to Bring Kulman Ghising to NEA', 'sub_title' => '', 'summary' => 'August 5: The government is preparing to appoint Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 5: The government is preparing to appoint Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Prime Minister Sher Bahadur Deuba summoned Minister for Energy, Water Resources and Irrigation, Pampha Bhusal to Baluwatar earlier this week and asked her to expedite the process of appointing Kulman as the NEA chief, according to the Prime Minister's Secretariat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following the directive of Prime Minister Deuba, Minister Bhusal has even started the 'process' to appoint Ghising as the executive director of NEA. In an introductory program with reporters a few days ago, Energy Minister Bhusal said that she was the sixth energy minister from the Maoist party and would continue the good work done by the previous ministers. In this regard, she had expressed her intention to form a team that would do a good job in the energy sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, it has been learnt that Kulman Ghising was her priority. She also expressed her dissatisfaction with the current leadership of the Electricity Authority. Within hours of the Prime Minister's directive, Energy Minister Bhusal summoned the current NEA Executive Director Hitendra Dev Shakya on Tuesday and instructed him to resign.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to a source at the Prime Minister's Office, it has been reported that the revenue of NEA has declined ever since Hitendra Dev Shakya held the responsibility of the NEA chief. There were reports of increase in unauthorized power cuts and power leakages. Minister Bhusal has already asked Shakya to resign. But, NEA Executive Director Shakya has refused to resign so far. Bhusal had demanded Shakya's resignation due to his poor performance. However, as per the sources, Shakya refused to resign saying that he has been appointed for a period of 4 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Shakya, who has been the acting executive director since 11 November 2020, was appointed as the executive director by the then KP Sharma Oli-led government on 8 February 2021. Ghising, who was in charge of NEA before Shakya, had ended load shedding of 18 hours a day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As Ghising took over the Nepal Electricity Authority, which had been running at a loss continuously, a profit of Rs 11 billion was reported in the fiscal year 2076/77. Ghising, who was appointed as the executive director on September 14, 2016, had made a profit of Rs 5 billion from the accumulated deficit of Rs 34 billion during his tenure. Ghising's term ended on 13 September 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite calls for Ghising to be re-appointed as NEA's executive director, then-Prime Minister Oli did not show "interest" in this matter. The then energy minister, Barsaman Pun, had lobbied for Ghising’s reappointment, but his attempt was unsuccessful. About five months after the end of Ghising's tenure, the government had appointed Hitendra Dev Shakya as the Executive Director of NEA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Shakya was directly appointed by the Council of Ministers. Ghising was appointed through a competition. Ghising was appointed by the government after a three-day notice was issued by the then Energy Minister Janardan Sharma to nominate Madhu Bhetwal, Kulman Ghising and Navin Singh to the cabinet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><strong>Can the cabinet remove the current head?</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Although the latest amendment to the Nepal Electricity Authority Act in 2075 BS does not mention that appointments should be made through competition, the government can dismiss Shakya even if he refuses to resign. The amended act states, "The chief executive will be appointed by the Government of Nepal." According to sources at the Ministry of Energy, Ghising was once selected from the competition and his tenure has been successful. Thus, this time, he can be appointed directly by dismissing Shakya. A few days ago, an agreement was reached between the five-party coalition to remove all political appointments made by the previous government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As the then government directly appointed Shakya, the government could remove him on the basis of the decision of the cabinet meeting, said a source close to the energy minister. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13524', 'image' => '20210805012307_20210514031053_NEA.jpg', 'article_date' => '2021-08-05 13:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13778', 'article_category_id' => '1', 'title' => 'Finance Minister for Policy-Level Intervention to Uplift State-Owned Corporations ', 'sub_title' => '', 'summary' => 'August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He also instructed them to formulate plans and policies to make such problematic corporations reach profitable condition, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Finance Madhu Kumar Marasini spoke of the need to revamp and reform problematic public corporations. Among the total 44 state-owned public corporation, 24 had amassed profits while remaining 18 were running on loss. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Marasini, the government has invested over Rs 600 billion on those corporations but much to the dismay of the government and public, such corporations have not been able to generate employments to over 30,000 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Such corporations have become a liability to the government instead of profit-making institutions, RSS quoted Marasini as saying. The corporations have put additional responsibilities on the government, viewed Marasini, adding that even those corporations that were privatized to earn profits were running on loss. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He too pressed for reforms of such corporations at policy and legal level. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Division Dirgharaj Mainali, presenting the details on the status of the corporations, shared that Nepal Oil Corporation, Nepal Electricity Authority, Nepal Telecommunications Company Limited, Nepal Banijya Bank Limited and Agriculture Development Bank among others were in profit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the 44 state-run corporations, 10 are related to industrial sector, nine related to trade, nine related to finances, five related to social sector and 10 related to service sector. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13523', 'image' => '20210805114045_1628089106.jpg', 'article_date' => '2021-08-05 11:39:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13777', 'article_category_id' => '1', 'title' => 'NEPSE Index Hits Record 3,123 Points ', 'sub_title' => '', 'summary' => 'August 5: The Nepal Stock Exchange (NEPSE) index continues to record a new history.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 5: The Nepal Stock Exchange (NEPSE) index continues to record a new history. On Wednesday (August 4), the second-last trading day of this week, the NEPSE index posted a double digit gain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The index rose 12.05 points to close at 3,123.14. The transaction amount stood at over Rs 15.5 billion. Likewise, the sensitive index increased 0.71 points to stand at 578.23. Over 28 million shares of 225 companies were traded during this period.</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"">Of the total 13 subgroups, six increased and seven decreased. Banking sector gained 4.29 points, development banks 65.85, hydropower 194.07, finance 45.05, production 27.84 and investment 0.34. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, trade slumped 60 points while hotel and tourism 7.77, non-life insurance 82.98, others 21.01, microfinance 126.33, life insurance 2.75 and mutual fund 0.12. </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 companies that hit the upper circuit of 10 percent were Api Power Company Limited, Khanikhola Hydropower Company Limited, Dibyashwori Hydropower Limited, Kalika Power Company Limited, Upper Tamakoshi, Ghalemdi Hydro Limited, Union Life Insurance and Jeevan Bikas Laghubitta Bittiya Sanstha Limited. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13522', 'image' => '20210805111425_20210203112246_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2021-08-05 11:13:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13776', 'article_category_id' => '1', 'title' => 'CSR activities of Banks Concentrated in Bagmati Province: NRB Study', 'sub_title' => '', 'summary' => 'August 4: A study conducted by Nepal Rastra Bank (NRB) on Corporate Social Responsibility (CSR) programmes of banks and financial institutions (BFIs) has shown that the CSR programmes of commercial banks have not been equally divided in various provinces.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 4: A study conducted by Nepal Rastra Bank (NRB) on Corporate Social Responsibility (CSR) programmes of banks and financial institutions (BFIs) has shown that the CSR programmes of commercial banks have not been equally divided in various provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the study, the commercial banks spend more than two-third of funds for CSR in Bagmati Province. The study has also shown that the commercial banks spent 67.95 percent of CSR fund in Bagmati Province in fiscal year 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Since FY 2076/77, commercial banks are required to spend a minimum of 10 percent of the CSR amount in each province. However, the study has shown that commercial banks have not implemented CSR programmes in the prescribed proportion. According to the study, except Bagmati Province, less than 10 percent CSR amount has been spent in other provinces in the fiscal year 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Among the seven provinces, the banks have spent the least amount in Karnali Province. Only 3.56 percent of funds allocated for CSR have been spent in Karnali Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study has shown that the share of CSR-related expenditure by banks is increasing. In FY 2075/76, commercial banks in Bagmati Province had spent about 75 percent of the CSR fund. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the same year, 1.13 percent CSR fund was spent in Karnali Province. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Executive director of NRB Prakash Kumar Shrestha said that the CSR programme of commercial banks is not balanced in every province. He is of the view that this may have been due to high demand in Bagmati due to various reasons. However, the CSR programme needs to be balanced as per the prescribed proportions. “Now we have brought out the real situation of the CSR programme. The reason behind the unbalanced distribution of CSR programmes needs to be further studied,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">He also said that the ratio of spending to CSR has not been implemented. “The central bank has directed commercial banks to spend a minimum of 10 percent of fund allocated for CSR in a province. However, it has not been implemented yet,” he said, “But there has been improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Although the CSR programme of commercial banks is not balanced in all provinces, the overall banks and financial institutions have spent more than the stipulated amount on CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">BFIs are required to spend at least one percent of their net profit on CSR. However, the study has shown that they spent 1.58 percent of their profit. They have spent Rs 1.28 billion on CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the study, A-class commercial banks have been allocating 1.54 percent of the profit for CSR on average. Similarly, Class B banks have been allocating 1.55 per cent, Class C finance companies 1.66 per cent and Class D microfinance institutions 2.1 per cent for CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Many banks and financial institutions participating in the survey have been conducting CSR programmes for the purpose of building their reputation. Similarly, the study has shown that such programmes are also done for business growth and customer satisfaction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Likewise, 85 percent of banks and financial institutions have their own corporate social responsibility policy. Moreover, the study has shown that 51 percent banks and financial institutions make annual plans in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In FY 2075/76, 35 percent of the commercial banks disclosed sectoral expenditure from the CSR Fund in their annual report, which increased to 38 percent in FY 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Furthermore, in FY 2075/76, 12 percent of the commercial banks disclosed the provincial expenditure from the CSR Fund in the annual report, which increased to 30.8 percent in FY 2076/77. However, according to the study, the expenditure details of the CSR fund have not been disclosed in the annual report as instructed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB had conducted a survey in this regard through virtual medium from November 5 to December 11. This is also the first survey on CSR. Most of the commercial banks had participated in the survey. Besides, Shrestha said that development banks, finance companies and microfinance financial institutions were also brought under the scope of the survey.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">“We conducted a survey in this regard by bringing limited information in a limited time. Therefore, it is not complete in itself,” he said, “Nevertheless, it shows the real state of the CSR programme. As a result, this survey will help us make additional policy arrangements in this regard.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study has shown that the CSR programme needs to have a balance in terms of geographyl and region. In addition, Shrestha said that there is a need for clear guidance and direction to make CSR-related expenditure transparent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study also explores various aspects of CSR in the Nepal’s banking sector. According to the study, the size of the CSR fund is increasing and its proper use can have social benefits to the economy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-04', 'modified' => '2021-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '13521', 'image' => '20210804022551_20210308021619_20201228012934_20201106055408_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-04 14:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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As soon as the bill was passed by the National Assembly last Monday, the employees' union made public the protest programme to revoke the decision.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">These bills have not been passed by the House of Representatives yet. The employees have voiced their opposition against the 'Nepal Aviation Authority Bill -2076' and 'Nepal Civil Aviation Authority Bill-2076' before the lower house takes a final decision to approve them. In a press statement issued on Sunday, the unions said that the bills were against the national interest as a whole and could raise serious questions about aviation security.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">They say that the bill has been brought in an unplanned manner to make the air service more expensive by handing over the Tribhuvan International Airport to the private sector. The press statement accused the government to weaken the CAAN in the name of transforming it.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The agitation programme will include pen down every day from 10 am to 1 pm and picketing the office of the Director-General of CAAN from 12 noon to 1 pm.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the press statement further mentions that the protest would be intensified if their demands are not addressed and the bills withdrawn.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The statement has the signatures of Min Prasad Khanal of CAAN's Employees Union, Ajit Kumar Gupta of Madhesh Terai Employees Union, Laxman Kumar Giri of Democratic Employees Union, Nanda Prasad Timilsina of National Employees Union, and Shravan Kumar Yadav of Nepal National Employees Union. The bill was registered by the then Tourism Minister Yogesh Bhattarai in the National Assembly on March 26, 2019.</span></span></span></span></p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-09', 'modified' => '2021-08-09', 'keywords' => '', 'description' => '', 'sortorder' => '13535', 'image' => '20210809112234_20200827042104_1598477546.Clipboard08.jpg', 'article_date' => '2021-08-09 11:21:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13789', 'article_category_id' => '1', 'title' => 'Nepali Nationals going for Foreign Employment Down by 55 Percent', 'sub_title' => '', 'summary' => 'August 8: The number of Nepali migrant workers going for foreign employment has declined by 55 percent in the last Fiscal Year (FY) 2077/78', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 8: The number of Nepali migrant workers going for foreign employment has declined by 55 percent in the last Fiscal Year (FY) 2077/78.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the previous FY 2076/77, the number of workers going for foreign employment had also declined by 28 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the annual report made public by the Department of Foreign Employment last year, only 166, 698 Nepali workers have gone for foreign employment in the last fiscal year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the previous fiscal year 2076/77, a total of 368, 433 Nepali workers had one for foreign employment. The data of the department shows that 508, 828 Nepalis went for foreign employment in FY 2075/76.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">By renewing the labor permit, 72,081 new workers (those who got new labor permits) went to foreign employment last year. In the previous fiscal year 190,453 new workers had gone for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Last year, Nepalis went to 116 countries including the UAE, Japan, Romania, Malaysia, Qatar, Saudi Arabia, Bahrain, South Korea, and Cyprus for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Most of the workers have gone to Qatar. A total of 54,915 workers went to Qatar last year. Likewise, 46,960 workers have gone to Saudi Arabia. Similarly, the data of the department shows that 40,477 workers have gone to the UAE.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Under normal circumstances, 400,000 to 500,000 workers from Nepal go for foreign employment every year. However, according to the department, the number of workers going for foreign employment has declined sharply in the last two years due to the impact of Covid-19 pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Stating that the number of workers going for foreign employment has decreased due to the pandemic, Mahendra Nath Bhattarai, information officer of the department said, “Most of the countries in the world including Nepal have imposed lockdown to control the global spread of the pandemic.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">“As a result, an economic crisis has been seen in the labor destination countries. Employer companies have been shut down, and workers have been laid off,” he added, “These are the reasons for the declining number of workers going for foreign employment.” Meanwhile, the demand for workers has also declined sharply.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The number of workers going for foreign employment had decreased in the fiscal year 2076/77 BS due to the postponement of the work permit and the extended lockdown from March 24, 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government had postponed the approval of work permits for foreign employment on March 11, 2020 and started giving permission from June 28, 2020. Likewise, the government started giving new work permits from September 2. Since then, Nepalis have started going for foreign employment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the department, the number of workers going for foreign employment has been increasing recently.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">"The demand for workers has been increasing lately. As a result, the number of workers for foreign employment has been increasing in recent times,” said Bhattarai.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13534', 'image' => '20210808022447_20210403032054_Foreign Employment.jpg', 'article_date' => '2021-08-08 14:23:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13788', 'article_category_id' => '1', 'title' => 'Second Dose of AstraZeneca Vaccine to be Administered on Monday and Tuesday', 'sub_title' => '', 'summary' => 'August 8: The Ministry of Health and Population has decided to vaccinate the citizens who have not been able to get the second dose of Covishield on August 9 and 10.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 8: The Ministry of Health and Population has decided to vaccinate the citizens who have not been able to get the second dose of Covishield on August 9 and 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Of the 1.6 million doses provided by Japan under the Covax facility, 500,000 doses arrived in Kathmandu on Saturday (August 7). Minister of State for Health Umesh Shrestha said that 513,420 doses of vaccines have been received and another 500,000 doses would be delivered on Sunday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to Jhalak Sharma Gautam, head of the vaccination center under the Department of Health Services, the government has decided to vaccinate people above the age of 65 who have received the first dose of vaccine. They will be receiving the second dose from Monday. The vaccination would be conducted from the same vaccination centers from where they received the shots previously.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The government had vaccinated people above the age of 65 from March 7 to March 16 earlier this year. Gautam said that although AstraZeneca and Covishield were produced in different places, both the vaccines are of the same nature and can be administered in each other’s place.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">"Covishield is also a vaccine based on AstraZeneca formula. It boosts the effectiveness of the AstraZeneca vaccine," he said. He said that 1.6 million doses of vaccines would be delivered from Japan by this week.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13533', 'image' => '20210808122501_56862824_303.jpg', 'article_date' => '2021-08-08 12:24:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13787', 'article_category_id' => '1', 'title' => 'Government Spends Rs 2 Billion in 20 Days', 'sub_title' => '', 'summary' => 'August 8: The government has spent nearly Rs 2 billion in the first 20 days of the current Fiscal Year 2078-79, according to the Office of the Auditor General.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 8: The government has spent nearly Rs 2 billion in the first 20 days of the current Fiscal Year 2078-79, according to the Office of the Auditor General. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The Office of the Auditor General has reportedly stated that a total of Rs 1.91 billion has been spent under different headings as of last Wednesday (August 4). According to the office, the majority of the budget was spent on current expenses. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Department of Inland Revenue (DRI) has collected Rs 3.80 billion, or 3.31 percent of its target. This is higher than the target achieved during the corresponding period of the previous fiscal year, the Office of the Auditor General said. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The government has spent Rs 1.58 billion in current expenditure and Rs 330 million in capital expenditure in the review period, according to the office. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Economists say that the problem of less capital spending and postponement of development works has been a problem since the past and the government should address this issue. However, they claim that the problem was caused by procedural hassles rather than deliberate intention of not spending. </span></span></span></span></p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13532', 'image' => '20210808121610_1626564749.Clipboard20.jpg', 'article_date' => '2021-08-08 12:15:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13786', 'article_category_id' => '1', 'title' => 'Finance Committee directs NRB to bring Relief and Recovery Programmes ', 'sub_title' => '', 'summary' => 'August 8: The Finance Committee of the House of Representatives (HoR) has directed Nepal Rastra Bank (NRB) to give emphasis on the implementation of relief, subsidy and economic recovery programmes.', '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 8: The Finance Committee of the House of Representatives (HoR) has directed Nepal Rastra Bank (NRB) to give emphasis on the implementation of relief, subsidy and economic recovery programmes of the government by revitalizing the pandemic-battered economy through the monetary policy of the current fiscal year. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the committee Krishna Prasad Dahal informed that the committee has issued a 17-point directive to the central bank including promotion of key dynamic areas of economy and attaining the goal of rapid growth. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The committee directed the central bank to deposit the stipulated amount in the business regularization fund that was instituted to compensate the workers of small, cottage and big industries, tourism, private educational institution, transportation, film industry and media workers, and support the resumption of businesses. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson Dahal further shared that the Committee instructed the central bank to expand business area and ceiling amount as the NRB’s subsidized interest rate of 5 percent has positively impacted the COVID-19-affected enterprises. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee asked the central bank to widen the scope and limit of subsidized loan to be provided to the micro, small and medium-scale industry and commercial farming, youth, enterprises and returnees from foreign employment. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee’s Secretary Dr Surendra Aryal said that the committee also directed the NRB to make effective the programme to provide loan up to Rs 2.5 million at one percent interest rate to motivate youth entrepreneurs in start-up business. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The Committee also asked the NRB to focus the monetary policy in mobilizing resource for economic growth, promotion of domestic entrepreneurship and export, replacement of import and production-oriented sector. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It instructed to make policy-level arrangements to maintain financial stability. The Committee suggested the central bank to make policy arrangement to check foreign reserve deficit and to discourage import of unnecessary luxury items. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the NRB has been asked to encourage merger of banks and financial institutions based on necessity, capacity and competition. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">It also drew the attention of NRB to make various service charges provided by banks and financial institutions transparent.</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"">Likewise, the Committee also directed to restructure and reschedule the loan given to different enterprises in the current fiscal year by analyzing COVID-19 impact on the economy. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> It is stressed that the monetary policy should maintain broader economic stability, ensure sustainable development through rapid growth of economy, promote access to finance, ensure stability of the financial sector and development of safe, healthy and efficient payment system. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Commercial and development banks have been asked to immediately implement the provision of ensuring subsidized loans from their branches and to create employment through the subsidized loan scheme. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the Committee has asked the central bank to implement the refinancing scheme by making procedures so that a large number of small enterprises could get benefit from it. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, the Committee stated that the government institutions should be made result-oriented and run economically through austerity measures in the present context of COVID-19.-- RSS </span></span></span></span></p> ', 'published' => true, 'created' => '2021-08-08', 'modified' => '2021-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '13531', 'image' => '20210808115506_2021030802161.jpg', 'article_date' => '2021-08-08 11:54:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13785', 'article_category_id' => '1', 'title' => 'Weekend Holidays of Domestic Tourists Boost Hotel Business around Kathmandu ', 'sub_title' => '', 'summary' => 'August 6: Hotels and resorts in tourist destinations in the vicinity of Kathmandu such as Nagarkot and Dhulikhel have started attracting domestic tourists.', 'content' => '<p><em>Photo Courtesy: Hotel Himalayan Villa</em></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"">August 6: Hotels and resorts in tourist destinations in the vicinity of Kathmandu such as Nagarkot and Dhulikhel have started attracting domestic tourists. Hotels and resorts in these locations are slowly picking up their business, especially due to weekend vacations, small workshops, and MICE tourism.</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"">Domestic tourists have started visiting these destinations after the government eased the prohibitory order imposed since April 29 and stepped up vaccination drive in recent days. According to the hoteliers, the occupancy of hotels and resorts in these destinations has reached 75 to 80 percent on weekends. Domestic tourists visit Nagarkot and Dhulikhel mostly on holidays.</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"">Entrepreneurs said that they are receiving encouraging guests during the weekend. Hira Shrestha, sales and marketing manager of Nagarkot-based Hotel Himalayan Villa, said that hotels in Nagarkot have occupancy up to 80 percent on weekends. On other days, the total occupancy is 5 to 10 percent, he added.</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"">"On other days, only 10/12 people come to the big hotels, and 5/7 people come to the small ones," he said.</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"">He said that despite the improvement in tourist arrivals and occupancy in January and February, it was not possible to do business after the prohibitory order was issued on April 29.</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"">He said that the hotel has been open since July 20, and domestic tourists have been coming sporadically. Shyam Mahat, managing director (MD) of Himalayan View Resort, said that the occupancy rate of his hotel is 7 to 8 percent.</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"">He said that although the number of domestic tourists has increased due to the easing of prohibitory order, the number of tourists has been declining for a few days now.</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"">Now, he says, tourist arrival has been low due to the panic and infection rate of the third wave of Covid-19.</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"">He said that they are providing services by fulfilling the health standards prescribed by the government.</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"">He said that it was necessary to bring a policy to provide relief to this business through monetary policy. Entrepreneurs have become enthusiastic after the coronavirus infection subsided and the resumption of vaccination drive. </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"">Prem Chandra Shrestha, president of Hotel Association Kavre, who is also the MD of Dhulikhel Luggage Resort, said that the occupancy of hotels here is 25 percent on average.</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 him, there are 50 hotels and resorts in Dhulikhel. Entrepreneurs are worried that the current transmission rate of Covid-19, which has been increasing for a few days, will reduce the current rate of arrival of domestic tourists to zero. </span></span></span></span></p> <p><img alt="" src="/app/webroot/userfiles/images/The-Cafe-2.jpg" style="height:409px; width:545px" /></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13530', 'image' => '20210806025426_slide3.jpg', 'article_date' => '2021-08-06 14:52:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13784', 'article_category_id' => '1', 'title' => 'Gold Jewelry worth Rs 387 Million Exported in Last Fiscal Year', 'sub_title' => '', 'summary' => 'August 6: Gold jewelry worth Rs 387.17 million were exported from Nepal in the last fiscal year (FY 2077/78).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 6: Gold jewelry worth Rs 387.17 million were exported from Nepal in the last fiscal year (FY 2077/78). Based on quantity, 38 kg of gold jewelry were exported to different countries.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the foreign trade data released by the Department of Customs, the export of gold jewelry started last year after the HS code was issued. Statistics show gold jewelry was mostly exported to the United States, Australia and Hong Kong.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Among the three countries, maximum amount of gold jewelry was exported most to the United States. Jewelry worth Rs 286.09 million was exported there during the review period. Similarly, gold jewelry worth Rs 67 million was exported to Hong Kong and Rs 43.78 million to Australia.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Prior to this, gold jewelry worth Rs 1.516 million were exported to China in the fiscal year 2072/73. After that, the data for the export of gold jewelry up to the previous fiscal year is not available. However, traders say that a small amount of gold jewelry may have been exported in between. The data of the department has shown that the export of gold jewelry has started on a large scale since the beginning of last year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Gold jewelry has not been widely traded in the domestic market due to rising prices and the coronavirus pandemic. In such situation, traders have started exploring markets abroad and there has been positive response.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Lately, demand for gold jewelry from Nepalese citizens in countries like the USA, Hong Kong and Australia has been increasing. President of the Federation of Nepali Gold and Silver Dealers Association, Manik Ratna Shakya said that gold ornaments are in high demand from them. He says that jewelry of Nepali traditional designs are mostly demanded by them.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"They have been demanding non-foreign jewelry," he said. "There is a demand for Nepali authentic jewelry such as Tilaharai and bangles, which are not made abroad."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He says that the exports of gold jewelry will also go on increasing in upcoming days. “We have recently signed an agreement with Gateway Payment Nepal on international electronic payment services. Accordingly, foreign customers can now easily order jewelry by paying money online,” he said, adding, “Also, the way gold jewelry exports have increased in the last one year, it seems that its exports will increase further in the coming days.”</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13529', 'image' => '20210806024644_history-of-gold-jewelry.jpg', 'article_date' => '2021-08-06 14:45:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13782', 'article_category_id' => '1', 'title' => ' New Trekking Route to Mardi Himal Constructed ', 'sub_title' => '', 'summary' => 'August 6: A new trekking route leading to Mardi Himal has been constructed with the support from the Gandaki Province. ', 'content' => '<p><em>Mardi Himal along with Mt Machhapuchhre. Photo Courtesy: GVTrek</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 6: A new trekking route leading to Mardi Himal has been constructed with the support from the Gandaki Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency RSS, the route that begins from Melbot in Pokhara Metropolitan City-25 passes through Astam, Dhital, Dhampus, Pritam Deurali, Dhital Lwang and Ghalel Kalimati. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The project cost is approximately Rs 1.5 million. Gandaki Province has provided Rs 1 million provided for the project while the remaining amount has been contributed by a Germany-based organisation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Many tourism infrastructures have been constructed on the way. The project aims to facilitate tourists, including domestic and foreign tourists, to reach the 5587 meters mountain that has attracted many tourists of late, the project coordinator Bishwo Adhikari, told RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stone floor tiles have been used on the two meters wide route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To reach the mountain, one can catch a vehicle up to Australian Camp through Dhampus, Kalimati and Siding from where they can use the route. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have constructed a new route to the mountain. We believe that tourists on the way will be attracted to biodiversity and natural scenes like Laligurans(Rhododendron) forest, Rudramahadev and Panchebaja Park," RSS quoted Adhikari as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Plans are afoot to construct a cycle lane on the way, said the project officials. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It requires additional Rs 5 million to expand the route to Dhital, said Adhikari, adding that the federal and provincial governments have been requested to support the project in this regard. </span></span></span></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13528', 'image' => '20210806110951_gvtrek_comxfish.jpg', 'article_date' => '2021-08-06 11:07:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13783', 'article_category_id' => '1', 'title' => 'Airlines Operators Pledge to Ensure Safety Measures Against COVID-19 ', 'sub_title' => '', 'summary' => 'August 6: The domestic airlines operators in Nepal have committed to operate flights ensuring preventive measures against COVID-19. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 6: The domestic airlines operators in Nepal have committed to operate flights ensuring preventive measures against COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Airlines Operators Association of Nepal (AOAN), issuing a press statement on Wednesday, reaffirmed its commitment for continuous collaboration with the Ministry of Health and Population, COVID-19 Crisis Management Committee and Civil Aviation Authority of Nepal (CAAN) in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organization of airline operators shared that the private airlines were operating domestic flights in the wake of the second wave of COVID-19 ensuring measures to stem the spread of COVID-19. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Private airlines have been implementing eight flights in an hour as per the CAAN’s flight schedule. The statement also said that the airline operators had been operating flights to various destinations in a reasonable fare in the context of road connectivity facing problems due to monsoon-induced disasters lately. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statement, the domestic airport in Kathmandu witnesses over 1,200 passengers travelling to and from various destinations in a day on average. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-06', 'modified' => '2021-08-06', 'keywords' => '', 'description' => '', 'sortorder' => '13527', 'image' => '20210806112032_20210221121806_Summit Air Landing.jpg', 'article_date' => '2021-08-06 11:19:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13781', 'article_category_id' => '1', 'title' => 'Monetary Policy for the Current Fiscal Year Likely to be Delayed ', 'sub_title' => '', 'summary' => 'August 5: Nepal Rastra Bank has indicated that the announcement of monetary policy will be delayed. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 5: Nepal Rastra Bank has indicated that the announcement of monetary policy will be delayed. NRB is preparing to release the monetary policy for the current fiscal year by looking at the priorities and projections of the new government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Governor of the central bank Maha Prasad Adhikari said that the monetary policy of the current fiscal year should be made public only after looking at the size, priority and projection of the new government's budget. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">“After the change of government, we have to bring monetary policy based on the priorities and projections of the new government, so we are waiting for it,” he said at a meeting of the Finance Committee of Parliament on Wednesday (August 4). </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that the preparation to announce the monetary policy is almost complete. However, as the government has changed and the monetary policy will be finalised only by looking at the plans and priorities of the new government, added Adhikari. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In previous years, there has never been any delay in announcing monetary policy later than July. However, although the month of July already has passed, Governor Adhikari did not give a concrete answer to the committee about the date of announcement of the monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The then KP Sharma Oli-led government had brought the budget for the current fiscal year through an ordinance on May 29. It has been three weeks since the budget brought by the then government was presented to the parliament by the current finance minister Janardan Sharma but the budget ordinance has not been discussed in the parliament. </span></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 Parliament Secretariat has not yet made an agenda to discuss the budget proposal registered in the Parliament. There is a provision that if the ordinance is not passed within 60 days of its submission to the parliament, it will be automatically repealed. There is a possibility that the budget ordinance will be repealed as this government has not shown much desire to implement the ordinance brought by the previous government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The government led by Sher Bahadur Deuba, formed with the support of the five-party alliance, has been under pressure to bring a new budget by scrapping the budget brought through ordinance. Confusion over the budget has had an impact on monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to Adhikari, the monetary policy, which is currently being prepared, will be improved on the basis of the current policy and priority of the government. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">The upcoming monetary policy will continue to provide concessions to coronavirus-affected areas and businesses, and with the possibility of third wave of coronavirus, the government will continue to prioritize concessional loan to prevent and control the disease and to sustain business. In the monetary policy that will be made public in a few days, NRB will continue the restructuring and rescheduling of loans. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"Monetary policy needs to facilitate pandemic-affected areas and businesses," he said, “The second wave of Covid-19 and the impact of the prohibitory order on the businesses need to be addressed and the renewal and restructuring of loan should be continued on the basis of the impact.” </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At present, NRB is disbursing refinancing for various sectors up to Rs 200 billion, five times from its average fund of Rs 40 billion. The continuation of refinancing is being given to the areas directly affected by Covid-19 in the monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">NRB is ready to control the import of luxury items to reduce the trade deficit and balance of payments. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">For this, NRB will stop the import of luxury items and will pursue the policy of providing credit to the businesses that have come into operation for import substitution through monetary policy. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">As the development strategy of the financial sector and the fourth strategic plan of the Nepal Rastra Bank have to be prepared in the current Fiscal Year, the NRB will give priority to the monetary policy for the sustainable and inclusive development of the financial sector. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to the governor's office, so far 20 percent of the loan has been provided to the business sector. A study by NRB has shown that a large amount of loan has not gone to the stock market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Governor Adhikari said that the profit was higher even after setting the interest rate threshold of microfinance at 15 percent. He did not elaborate on what the forthcoming monetary policy would do to this unnatural profit growth. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">He said that the profit of the banks was satisfactory. Despite the government's support for concessional loans, many banks have not been able to enter the market as they do not want to take risks. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">At the meeting of the Finance Committee, Chairman Krishna Prasad Dahal suggested NRB to bring monetary policy to strengthen the country's economy even if the debtors above 10 million are not given concession in interest rate. He also said that the country's economy would collapse if loans were provided to big industrialists at concessional rates. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">In the meeting, the members of the committee expressed their concern over the growing trade deficit and drew the attention of Nepal Rastra Bank to find ways to reduce it. Committee member and former finance minister Barshaman Pun warned to stop import of luxury items to reduce trade deficit. Committee member and UML parliamentarian Metmani Chaudhary had said that the monetary policy should not be delayed. </span></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 Finance Committee is preparing to give recommendations for the monetary policy in a few days. Committee Chairman Krishna Dahal said that the work of preparing the report has already started. </span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13526', 'image' => '20210805024909_2021030802161.jpg', 'article_date' => '2021-08-05 14:48:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13780', 'article_category_id' => '1', 'title' => 'NEA Executive Director ‘Ready’ to go where ever Government Sends Him', 'sub_title' => '', 'summary' => 'August 5: Executive Director of Nepal Electricity Authority (NEA) Hitendra Dev Shakya has said that he is ready to go wherever the government sends him.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">August 5: Executive Director of Nepal Electricity Authority (NEA) Hitendra Dev Shakya has said that he is ready to go wherever the government sends him.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director Shakya stated that he was ready to go wherever he was needed as per the responsibilities handed to him. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">"I’ve been asked whether I can be given any other responsibilities. I have already said that I am ready to go wherever I am sent in order to fulfill my responsibilities," he told reporters at the authority on Wednesday. “I belong to the technical field. I do planning as well. I will work at any place related to my field”.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Executive Director Shakya said that despite the Covid-19 pandemic and power outage during his tenure, he had worked without any problem in electricity. He claims that the power supply has been cut off less this year than in comparison to last year. He also said that arrangements have been made for the availability of electricity in hospitals round the clock. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Similarly, Dhalkebar 400 KV substation has been brought into operation and work on Upper Tamakoshi has been taken forward during his tenure. Shakya said that 13 more districts have been fully electrified and national grid electricity has been supplied to Karnali for the first time.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Shakya said leakage has increased as consumption has increased by 15 percent this year. He said that there has been a problem in monitoring and removing hook wires from door to door due to the impact of Covid-19. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">According to him, the leakage of electricity has increased by 1.6 percent. Shakya has even said that the leadership of the authority should not be changed in a way that insults him. "I am ready to resign in order to help the government by getting appointed at a new location. But I will go to court if I am unjustly removed," he said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Times New Roman","serif"">Minister for Energy Pampha Bhusal and Prime Minister Sher Bahadur Deuba are not satisfied with Shakya. On Tuesday, Prime Minister Deuba called the Energy Minister and expressed interest in the leadership of the Electricity Authority, according to the Prime Minister's Secretariat. Subsequently, Energy Minister Bhusal called Shakya and inquired about his work.</span></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 Energy Minister herself is not satisfied with the performance of the current leadership of NEA. A few days ago, she had expressed her intention to change the leadership of NEA at a press conference held at the Ministry of Energy.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13525', 'image' => '20210805024734_1628138514.jpg', 'article_date' => '2021-08-05 14:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13779', 'article_category_id' => '1', 'title' => 'Government Preparing to Bring Kulman Ghising to NEA', 'sub_title' => '', 'summary' => 'August 5: The government is preparing to appoint Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 5: The government is preparing to appoint Kulman Ghising as the executive director of Nepal Electricity Authority (NEA).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Prime Minister Sher Bahadur Deuba summoned Minister for Energy, Water Resources and Irrigation, Pampha Bhusal to Baluwatar earlier this week and asked her to expedite the process of appointing Kulman as the NEA chief, according to the Prime Minister's Secretariat.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Following the directive of Prime Minister Deuba, Minister Bhusal has even started the 'process' to appoint Ghising as the executive director of NEA. In an introductory program with reporters a few days ago, Energy Minister Bhusal said that she was the sixth energy minister from the Maoist party and would continue the good work done by the previous ministers. In this regard, she had expressed her intention to form a team that would do a good job in the energy sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Accordingly, it has been learnt that Kulman Ghising was her priority. She also expressed her dissatisfaction with the current leadership of the Electricity Authority. Within hours of the Prime Minister's directive, Energy Minister Bhusal summoned the current NEA Executive Director Hitendra Dev Shakya on Tuesday and instructed him to resign.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to a source at the Prime Minister's Office, it has been reported that the revenue of NEA has declined ever since Hitendra Dev Shakya held the responsibility of the NEA chief. There were reports of increase in unauthorized power cuts and power leakages. Minister Bhusal has already asked Shakya to resign. But, NEA Executive Director Shakya has refused to resign so far. Bhusal had demanded Shakya's resignation due to his poor performance. However, as per the sources, Shakya refused to resign saying that he has been appointed for a period of 4 years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Shakya, who has been the acting executive director since 11 November 2020, was appointed as the executive director by the then KP Sharma Oli-led government on 8 February 2021. Ghising, who was in charge of NEA before Shakya, had ended load shedding of 18 hours a day.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As Ghising took over the Nepal Electricity Authority, which had been running at a loss continuously, a profit of Rs 11 billion was reported in the fiscal year 2076/77. Ghising, who was appointed as the executive director on September 14, 2016, had made a profit of Rs 5 billion from the accumulated deficit of Rs 34 billion during his tenure. Ghising's term ended on 13 September 2020.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite calls for Ghising to be re-appointed as NEA's executive director, then-Prime Minister Oli did not show "interest" in this matter. The then energy minister, Barsaman Pun, had lobbied for Ghising’s reappointment, but his attempt was unsuccessful. About five months after the end of Ghising's tenure, the government had appointed Hitendra Dev Shakya as the Executive Director of NEA.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Shakya was directly appointed by the Council of Ministers. Ghising was appointed through a competition. Ghising was appointed by the government after a three-day notice was issued by the then Energy Minister Janardan Sharma to nominate Madhu Bhetwal, Kulman Ghising and Navin Singh to the cabinet.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif"><strong>Can the cabinet remove the current head?</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Although the latest amendment to the Nepal Electricity Authority Act in 2075 BS does not mention that appointments should be made through competition, the government can dismiss Shakya even if he refuses to resign. The amended act states, "The chief executive will be appointed by the Government of Nepal." According to sources at the Ministry of Energy, Ghising was once selected from the competition and his tenure has been successful. Thus, this time, he can be appointed directly by dismissing Shakya. A few days ago, an agreement was reached between the five-party coalition to remove all political appointments made by the previous government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As the then government directly appointed Shakya, the government could remove him on the basis of the decision of the cabinet meeting, said a source close to the energy minister. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13524', 'image' => '20210805012307_20210514031053_NEA.jpg', 'article_date' => '2021-08-05 13:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13778', 'article_category_id' => '1', 'title' => 'Finance Minister for Policy-Level Intervention to Uplift State-Owned Corporations ', 'sub_title' => '', 'summary' => 'August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 5: Finance Minister Janardan Sharma has instructed the concerned authorities for policy-level intervention to make sure that the state-owned public corporation incurring loss make profits. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a briefing by the Financial Sector Management and Corporation Coordination Division at the Ministry of Finance on Wednesday (August 4), Minister Sharma directed concerned authorities to make a detailed plan about how to address the issue relating to salvaging those state-owned corporations that were in loss. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He also instructed them to formulate plans and policies to make such problematic corporations reach profitable condition, the state-owned national news agency RSS reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Finance Madhu Kumar Marasini spoke of the need to revamp and reform problematic public corporations. Among the total 44 state-owned public corporation, 24 had amassed profits while remaining 18 were running on loss. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Marasini, the government has invested over Rs 600 billion on those corporations but much to the dismay of the government and public, such corporations have not been able to generate employments to over 30,000 people. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Such corporations have become a liability to the government instead of profit-making institutions, RSS quoted Marasini as saying. The corporations have put additional responsibilities on the government, viewed Marasini, adding that even those corporations that were privatized to earn profits were running on loss. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He too pressed for reforms of such corporations at policy and legal level. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Division Dirgharaj Mainali, presenting the details on the status of the corporations, shared that Nepal Oil Corporation, Nepal Electricity Authority, Nepal Telecommunications Company Limited, Nepal Banijya Bank Limited and Agriculture Development Bank among others were in profit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among the 44 state-run corporations, 10 are related to industrial sector, nine related to trade, nine related to finances, five related to social sector and 10 related to service sector. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13523', 'image' => '20210805114045_1628089106.jpg', 'article_date' => '2021-08-05 11:39:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13777', 'article_category_id' => '1', 'title' => 'NEPSE Index Hits Record 3,123 Points ', 'sub_title' => '', 'summary' => 'August 5: The Nepal Stock Exchange (NEPSE) index continues to record a new history.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">August 5: The Nepal Stock Exchange (NEPSE) index continues to record a new history. On Wednesday (August 4), the second-last trading day of this week, the NEPSE index posted a double digit gain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The index rose 12.05 points to close at 3,123.14. The transaction amount stood at over Rs 15.5 billion. Likewise, the sensitive index increased 0.71 points to stand at 578.23. Over 28 million shares of 225 companies were traded during this period.</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"">Of the total 13 subgroups, six increased and seven decreased. Banking sector gained 4.29 points, development banks 65.85, hydropower 194.07, finance 45.05, production 27.84 and investment 0.34. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, trade slumped 60 points while hotel and tourism 7.77, non-life insurance 82.98, others 21.01, microfinance 126.33, life insurance 2.75 and mutual fund 0.12. </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 companies that hit the upper circuit of 10 percent were Api Power Company Limited, Khanikhola Hydropower Company Limited, Dibyashwori Hydropower Limited, Kalika Power Company Limited, Upper Tamakoshi, Ghalemdi Hydro Limited, Union Life Insurance and Jeevan Bikas Laghubitta Bittiya Sanstha Limited. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-08-05', 'modified' => '2021-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '13522', 'image' => '20210805111425_20210203112246_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2021-08-05 11:13:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13776', 'article_category_id' => '1', 'title' => 'CSR activities of Banks Concentrated in Bagmati Province: NRB Study', 'sub_title' => '', 'summary' => 'August 4: A study conducted by Nepal Rastra Bank (NRB) on Corporate Social Responsibility (CSR) programmes of banks and financial institutions (BFIs) has shown that the CSR programmes of commercial banks have not been equally divided in various provinces.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">August 4: A study conducted by Nepal Rastra Bank (NRB) on Corporate Social Responsibility (CSR) programmes of banks and financial institutions (BFIs) has shown that the CSR programmes of commercial banks have not been equally divided in various provinces.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the study, the commercial banks spend more than two-third of funds for CSR in Bagmati Province. The study has also shown that the commercial banks spent 67.95 percent of CSR fund in Bagmati Province in fiscal year 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Since FY 2076/77, commercial banks are required to spend a minimum of 10 percent of the CSR amount in each province. However, the study has shown that commercial banks have not implemented CSR programmes in the prescribed proportion. According to the study, except Bagmati Province, less than 10 percent CSR amount has been spent in other provinces in the fiscal year 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Among the seven provinces, the banks have spent the least amount in Karnali Province. Only 3.56 percent of funds allocated for CSR have been spent in Karnali Province.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study has shown that the share of CSR-related expenditure by banks is increasing. In FY 2075/76, commercial banks in Bagmati Province had spent about 75 percent of the CSR fund. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In the same year, 1.13 percent CSR fund was spent in Karnali Province. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Executive director of NRB Prakash Kumar Shrestha said that the CSR programme of commercial banks is not balanced in every province. He is of the view that this may have been due to high demand in Bagmati due to various reasons. However, the CSR programme needs to be balanced as per the prescribed proportions. “Now we have brought out the real situation of the CSR programme. The reason behind the unbalanced distribution of CSR programmes needs to be further studied,” he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">He also said that the ratio of spending to CSR has not been implemented. “The central bank has directed commercial banks to spend a minimum of 10 percent of fund allocated for CSR in a province. However, it has not been implemented yet,” he said, “But there has been improvement.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Although the CSR programme of commercial banks is not balanced in all provinces, the overall banks and financial institutions have spent more than the stipulated amount on CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">BFIs are required to spend at least one percent of their net profit on CSR. However, the study has shown that they spent 1.58 percent of their profit. They have spent Rs 1.28 billion on CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">According to the study, A-class commercial banks have been allocating 1.54 percent of the profit for CSR on average. Similarly, Class B banks have been allocating 1.55 per cent, Class C finance companies 1.66 per cent and Class D microfinance institutions 2.1 per cent for CSR.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Many banks and financial institutions participating in the survey have been conducting CSR programmes for the purpose of building their reputation. Similarly, the study has shown that such programmes are also done for business growth and customer satisfaction.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Likewise, 85 percent of banks and financial institutions have their own corporate social responsibility policy. Moreover, the study has shown that 51 percent banks and financial institutions make annual plans in this regard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In FY 2075/76, 35 percent of the commercial banks disclosed sectoral expenditure from the CSR Fund in their annual report, which increased to 38 percent in FY 2076/77.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Furthermore, in FY 2075/76, 12 percent of the commercial banks disclosed the provincial expenditure from the CSR Fund in the annual report, which increased to 30.8 percent in FY 2076/77. However, according to the study, the expenditure details of the CSR fund have not been disclosed in the annual report as instructed.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">NRB had conducted a survey in this regard through virtual medium from November 5 to December 11. This is also the first survey on CSR. Most of the commercial banks had participated in the survey. Besides, Shrestha said that development banks, finance companies and microfinance financial institutions were also brought under the scope of the survey.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">“We conducted a survey in this regard by bringing limited information in a limited time. Therefore, it is not complete in itself,” he said, “Nevertheless, it shows the real state of the CSR programme. As a result, this survey will help us make additional policy arrangements in this regard.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study has shown that the CSR programme needs to have a balance in terms of geographyl and region. In addition, Shrestha said that there is a need for clear guidance and direction to make CSR-related expenditure transparent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The study also explores various aspects of CSR in the Nepal’s banking sector. According to the study, the size of the CSR fund is increasing and its proper use can have social benefits to the economy. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-08-04', 'modified' => '2021-08-04', 'keywords' => '', 'description' => '', 'sortorder' => '13521', 'image' => '20210804022551_20210308021619_20201228012934_20201106055408_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-08-04 14:24:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
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| 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
