July 22: Prime Minister Sher Bahadur Deuba has promised'relief package' to prop up the industries and enterprises that suffered worst due to the COVID-19…
July 22: Prime Minister Sher Bahadur Deuba has promised'relief package' to prop up the industries and enterprises that suffered worst due to the COVID-19…
July 22: The Department of Commerce, Supplies and Consumer Protection has taken action against over 1,000 firms and companies for violating the business code of…
July 21: After a two-month-long prohibitory order, a meeting of the chief district officers of Kathmandu Valley decided to allow the automobile business to…
July 21: Newly-appointed Finance Minister Janardan Sharma has expressed concern regarding the tendency of not spending 100 percent of the allocated capital budget in the recent…
July 21: In recent times, most of the concessional loans have flowed to women…
July 21: The International Finance Corporation (IFC) has appointed Hector Gomez Ang as its regional director for South Asia.…
July 20: The government has proposed building tunnels in different parts of the country but it lacks skilled…
July 20: Import of vehicles and fuel dominated Nepal’s foreign trade through the Birgunj…
July 20: Aviation authorities have decided to operate six flights per week between Kathmandu and New…
July 20: The government has cut down the subsidy being provided for agriculture and livestock…
July 20: The speed test for the 35 km long Janakpur-Jayanagar railway track has been completed…
July 19: Finance Minister Janardan Sharma has assured that the government would support the 'Make in Nepal-Swadeshi' campaign forwarded by the Confederation of Nepalese Industries (CNI) in order to build a self-reliant economy.…
July 19: The government has extended the deadline for Smart Telecom to clear its…
July 19: Prime Minister Sher Bahadur Deuba has received vote of confidence from the House of Representatives…
July 19: More than 100 containers of peas imported from third countries are stuck in the dry port of Birgunj due to procedural hassles.…
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 22: Prime Minister Sher Bahadur Deuba has promised 'relief package' to prop up the industries and enterprises that suffered worst due to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inaugurating the 18th assembly of the Confederation of Nepalese Industries on Wednesday, PM Deuba shared that he was planning a special package on how the industries suffering much in the wake of COVID-19 and lockdown could be restored so that they could contribute to the national economy again. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have given priority to vaccinate all citizens against COVID-19 and utilize their knowledge and skills for the national economy and development," he said, adding that investment promotion was equally important. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba reiterated that although development is always a priority, saving people's lives gets utmost priority now. "It's challenging to face pandemic, so human safety is first priority," he underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Minister Janardan Sharma expressed his view that the pandemic reminded all of us to strengthen self-reliant economy. He appreciated the 'make in Nepal' campaign launched by the CNI. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">"The government is for taking the private sector into confidence to revive the national economy which has been dented much by the pandemic,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, founding chair of the Confederation, Binod Chaudhari, said the Confederation was acting as a think-tank. He claimed that the economic reform launched by the Nepali Congress-led government following the restoration of democracy in 1990 had tremendous contribution to the country's economic development, augmentation of private sector and investment opportunities. Now, in the changed context, second phase of such reform could be launched, he suggested the government. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-07-22', 'modified' => '2021-07-22', 'keywords' => '', 'description' => '', 'sortorder' => '13456', 'image' => '20210722052349_9D3A8542.JPG', 'article_date' => '2021-07-22 12:16:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13710', 'article_category_id' => '1', 'title' => 'Over 1000 Business Firms Fined for Violating Code of Conduct', 'sub_title' => '', 'summary' => 'July 22: The Department of Commerce, Supplies and Consumer Protection has taken action against over 1,000 firms and companies for violating the business code of conduct. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 22: The Department of Commerce, Supplies and Consumer Protection has taken action against over 1,000 firms and companies for violating the business code of conduct. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency (RSS), the department found 1,035 business firms and companies indulging in inappropriate trade activities during the fiscal year 2020-21. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department had conducted a monitoring of 2,947 during last year. Among them, the department suggested general improvements for 1,597 companies while 397 firms were demanded to furnish required documents and sought clarifications. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the department’s data, samples were collected from 37 firms for a laboratory test while the transactions of 38 firms were suspended. Cases have been filed against 19 people and three vehicles have been taken under control. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has collected revenue worth Rs 23.98 million in fines, informed Spokesperson of the Department Shibaraj Shedhai. Similarly, adulterated foodstuff worth Rs 37.38 million was destroyed during the period. </span></span></span></p> ', 'published' => true, 'created' => '2021-07-22', 'modified' => '2021-07-22', 'keywords' => '', 'description' => '', 'sortorder' => '13455', 'image' => '20210722115626_1626842255.jpg', 'article_date' => '2021-07-22 11:54:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13709', 'article_category_id' => '1', 'title' => 'Automobile Business Slumps Even After Relaxation of Lockdown', 'sub_title' => '', 'summary' => 'July 21: After a two-month-long prohibitory order, a meeting of the chief district officers of Kathmandu Valley decided to allow the automobile business to reopen.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 21: After a two-month-long prohibitory order, a meeting of the chief district officers of Kathmandu Valley decided to allow the automobile business to reopen. Entrepreneurs were expecting the market to revitalize after the prohibitory order was lifted. However, even after the market has reopened, the sales of vehicles are still almost null.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the businessmen, no customer walk in the showroom to inquiry about the vehicles. Anup Kumar Baral, the CEO of Narayani Auto Business Private Limited and the secretary of the Nepal Automobile Dealers Association (NADA), an umbrella organization of automobile dealers, said that the market has not been able to normalize even after the government lifted a ban on their business recently.</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"">"For some time now, a number of people coming for general inquiry for vehicles have started to show up," he said. "But the demand has declined." After the lifting of lockdown last year, the demand for vehicles went up and recorded the highest in January. Entrepreneurs could not import vehicles as per the demand as it was difficult to import due to the low production of vehicles in India. Therefore, businessmen had started booking vehicles in advance before the prohibitory order was imposed. However, this time the demand for vehicles has not increased even though the prohibition has been relaxed.</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"">Before the Covid-19 pandemic, the peak season for the sale of automobiles was between June to October every year. Kailash Babu Gelal, Managing Director of G Motors, said that the public’s attraction towards the automobile business has not been seen since the last one and a half years. Before the pandemic, there used to be the NADA auto show in October, because of which, the import of new variants of vehicles used to increase right after February.</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 market is still not able to gain the pace as it had last year. He informed that the people have started inquiring about low-priced vehicles.</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"">Demand for two-wheelers had doubled last year. On the contrary, there is no demand for two-wheelers at all this year, said Abhik Jyoti, director of Nepal General Marketing, Nepal's official dealer for Hero Motors. </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"">"Before the implementation of the prohibitory order, there was more demand in April than any other time," he said. "As the market has just opened up, we can't say whether the situation is good or bad right now, but there is no demand."</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> There won’t be NADA Auto Show this year as well</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The NADA Auto Show, which is considered to be the biggest show of automobiles, will not be held this year either. The chairman of NADA, Krishna Prasad Dulal, said that there would be no auto show as the rate of coronavirus infection has not decreased and the government has not been able to provide adequate vaccination.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The infection has not declined. Experts are warning of a third wave," he said. "We are preparing not to hold auto shows by giving the health of consumers and businessmen a top priority."</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 will discuss about the auto show after the condition becomes normal and everyone gets vaccinated. The topic will most probably be discussed after Dashain-Tihar, added Dulal.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13454', 'image' => '20210721035520_1626824705.Clipboard07.jpg', 'article_date' => '2021-07-21 15:54:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13708', 'article_category_id' => '1', 'title' => 'Finance Minister Concerned about Weak Capital Expenditure', 'sub_title' => '', 'summary' => 'July 21: Newly-appointed Finance Minister Janardan Sharma has expressed concern regarding the tendency of not spending 100 percent of the allocated capital budget in the recent years.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 21: Newly-appointed Finance Minister Janardan Sharma has expressed concern regarding the tendency of not spending 100 percent of the allocated capital budget in the recent years.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">During a recent interaction on development and capital expenditure with the secretaries of the Ministry of Finance, he sought reasons for poor spending. He asked the secretaries of the ministries about the low capital expenditure and the expenses at the end of the fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">In response, the secretaries pointed out to the Covid-19 pandemic as the main reason for the flaw.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Similarly, they also pointed to that the lack of skilled manpower in various project, disbursement of funds to projects without adequate preparation, delay in contract signing process, uncertainty of funds in foreign-aided projects, difficulty in land acquisition, allocation of funds to small projects, delay in formulating procedures and criteria for project operation and lack of inter-ministerial coordination were the other reasons behind unachieved target of capital expenditure.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Finance Minister Sharma directed the secretaries to submit necessary suggestions to the Government of Nepal, the Council of Ministers and the Ministry of Finance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Sharma said that the work done in the traditional format and style cannot achieve the expected results. For this, Sharma stressed on the need for the staff to present a concrete action plan with innovative thoughts for improved performance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Finance Secretary Shishir Kumar Dhungana, in the last fiscal year 2077/78, the expenditure of Ministry of Water Supply was 36.81 percent, the Ministry of Physical Infrastructure and Transport 75.3 percent, the Ministry of Urban Development 87 percent, the Ministry of Federal Affairs and General Administration 77.79 percent and the Ministry of Energy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government has already submitted the budget ordinance of the current fiscal year 2078/79 to the parliament. The Ministry of Finance is preparing to amend the ordinance and endorse the budget. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13453', 'image' => '20210721015847_20190609013126_20190531021713_Budget.jpg', 'article_date' => '2021-07-21 13:58:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13707', 'article_category_id' => '1', 'title' => '43,000 Additional Women receive Concessional Loans', 'sub_title' => '', 'summary' => 'July 21: In recent times, most of the concessional loans have flowed to women entrepreneurs.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 21: In recent times, most of the concessional loans have flowed to women entrepreneurs. Altogether 43,831 individuals have received the women entrepreneurship loans from banks and financial institutions (BFIs) in the first 11 months of the Fiscal Year 2020/21.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The number of women taking loans under this heading has reached 50,513 as of mid-June. The debt arrear was Rs 44.66 billion under this heading during the review period. In the previous fiscal year, only 6,682 women had availed such loan. However, this number has been increasing every month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">There is a provision to take a concessional loan under the heading of Women Entrepreneurship at a subsidized interest rate of 6 percent. Individuals can apply for up to Rs 1.5 million per person. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Although loan under this heading should be provided without any collateral, BFIs are found seeking collateral from the service seekers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Chairman of the Nepal Bankers' Association Bhuvan Kumar Dahal says that the banks are willing to provide women entrepreneurship loans by keeping collateral as there is high risk of giving loans without collateral.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to the Nepal Rastra Bank, individuals taking concessional loans for CTEVT trainings is the lowest among those seeking concessional loans. Only two people have taken such loan worth Rs 370,000. Bankers say that such loans do not flow because of the low demand under the heading. Similarly, only three individuals have taken youth self-employment loan. This heading has arrears of Rs 1.5 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">So far, only 141 borrowers have availed the 'Educated Youth Self-Employment Loan' under the concessional loan programme of the government. Statistics show that they have a debt of Rs 62.6 million. In the first 11 months of the last fiscal year, 76 more individuals received Educated Youth Self-Employment Loan'.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Individuals complain that bankers are hesitant to offer loans to students against their certificate despite the government’s announcement to avail loans to students by keeping their certificates as collateral. Bankers say there is a risk in giving loans to students against their certificates. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government has announced loans up to Rs 2.5 million for students in the budget of the current fiscal year. However, it would be hard to avail such loan unless there is an excellent project plan and trust, says Dahal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Approximately 791 people have availed the Youth Project Loan for Returnee Migrant Workers. BFIs have provided Rs 578.2 million to the returnee workers under this heading.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Similarly, banks have disbursed Dalit community business development loans worth Rs 522 million to 857 individuals. So far, 232 earthquake-affected people have received loans for the construction of private houses. In addition, 218 garment manufacturers have also availed concessional loans worth Rs 2.23 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Narayan Prasad Poudel, Joint Spokesperson of the Central Bank, 96,852 borrowers have availed concessional loans of Rs 150.96 billion in 11 months of last fiscal year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13452', 'image' => '20210721120621_20210605063901_Business Bank Loans.jpg', 'article_date' => '2021-07-21 12:05:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13706', 'article_category_id' => '1', 'title' => 'IFC Appoints Hector Gomez as Regional Director for South Asia', 'sub_title' => '', 'summary' => 'July 21: The International Finance Corporation (IFC) has appointed Hector Gomez Ang as its regional director for South Asia. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">July 21: The International Finance Corporation (IFC) has appointed Hector Gomez Ang as its regional director for South Asia. Based in New Delhi, he will play a critical role in boosting IFC’s investments in the region as it looks to recover from the severe impacts of Covid-19, IFC said in a statement on July 20.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Assuming his new role, Gomez Ang said the private sector had an essential role in South Asia’s recovery from Covid-19, easing the burden on constrained public finances and reducing rising levels of poverty, due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif""> “The pandemic has left a scar on countries throughout the region, exacting a huge human toll of which we must remain mindful. We must also accept that we may have to live with the lingering impacts of Covid-19 for some time to come, and so it’s all the more imperative to continue to work together to support jobs and economic growth,” the statement quoted Gomez Ang as saying.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“That also means we must do what’s needed to ensure private sector investments can flow to where it’s needed, and in industries, we know can support economic activity,” he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">According to IFC, its focus in South Asia will continue to centre on providing much-needed liquidity to private sector companies in the region so they can maintain operations, preserve and create jobs. IFC will also look to further support the region’s most vulnerable people by helping deliver more funding for hard-hit micro, small and medium-sized enterprises as well as promoting green growth through investments in sustainable infrastructures, such as renewable energy and digital connectivity, to foster a greener, more resilient, and inclusive recovery from Covid-19, the statement added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">"IFC will continue to prioritize climate investments in the region and help countries meet their nationally determined contributions under the Paris Accord," Gomez Ang added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Gomez Ang previously served as country manager for Angola, Mozambique, Zambia, and Botswana. A Mexican national, Gomez Ang joined IFC in Mexico City in 2006 as an investment officer, where he led business development in Mexico and Central America. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Gomez Ang succeeds Mengistu Alemayehu, who has assumed a new role as IFC’s Director of Global Equity Mobilization.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13451', 'image' => '20210721111801_1626770274.ifc.jpg', 'article_date' => '2021-07-21 11:16:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13705', 'article_category_id' => '1', 'title' => 'Government Preparing Skilled Manpower for Construction of Tunnels within the Country', 'sub_title' => '', 'summary' => ' July 20: The government has proposed building tunnels in different parts of the country but it lacks skilled manpower.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">July 20: The government has proposed building tunnels in different parts of the country but it lacks skilled manpower. To address this problem, the government had reached an agreement with the Japanese construction company to deploy Nepali engineers and technicians at the Nagdhunga-Naubise tunnel in order to develop skilled manpower.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">As the construction of the tunnel progresses, skilled manpower is also being generated within the country. Exposure to this project has given opportunity to the country’s manpower to acquire skills to build tunnels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Currently, 150 people, both Nepali and Japanese, are working on this project. Fifteen of them include employees of the construction company, Hajma Ando Corporation of Japal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Project Chief Nareshman Shakya said that the construction company has been using Nepali workers since the start of the digging work of the tunnel. According to him, 25 engineers, six geologists, 12 tunnel supervisors, 12 surveyors, and 35 operators have been deployed in the project from Nepal so far. They have gained experience in various aspects of the tunnel. Likewise, there are 45 other ordinary workers.</span><br /> <br /> <span style="font-family:"Arial","sans-serif"">Shakya said that the engineers and technicians deployed at the site are learning about tunnel construction with great interest. Likewise, they are also learning ways to dig a tunnel and also aspects of quality management. "In some cases, the site is controlled by Nepali engineers," said Shakya.<br /> <br /> He said that the operators have started learning how to operate the machines and how to tilt them. He said that Nepalis are digging the tunnels, operating machines on their own. There are also automatic machines and equipment inside the tunnel. Nepalis are now replacing Japanese workers in this project.<br /> <br /> As soon as the tunnel was built, it became clear how to use the equipment. He also said that Nepali engineers, operators, and in-charges are learning about tools used for constructing a tunnel on the highways, and methods of drilling.<br /> <br /> Engineers and technicians from the Department of Roads and construction companies have been deployed in constructing the tunnel. "Currently, technicians from the private sector are also working and learning. Later, when they are trained, they can teach others,” said Shakya.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13450', 'image' => '20210720023725_20210524031735_20210408031917_20190825123459_Clipboard01.jpg', 'article_date' => '2021-07-20 14:36:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13704', 'article_category_id' => '1', 'title' => 'Vehicle and Fuel Import Dominates Foreign Trade via Birgunj Customs', 'sub_title' => '', 'summary' => 'July 20: Import of vehicles and fuel dominated Nepal’s foreign trade through the Birgunj customs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: Import of vehicles and fuel dominated Nepal’s foreign trade through the Birgunj customs. The data of the customs department shows that vehicles and fuel imported through Birgunj customs were the major contributors to government revenue in the last fiscal year (FY 2020/21).</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"">“Vehicles and petroleum products are the main products entering through Birgunj customs. These items have been included as the major import in the last fiscal year as well,” said chief customs officer Harihar Poudel.</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"">Vehicles including jeeps, vans, motorcycles, trucks, mini-trucks as well as fuel in large quantity have entered the country from this checkpoint in the last fiscal year. A significant amount of industrial raw materials also enters through this checkpoint.</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"">Hari Gautam, coordinator of the Birgunj Chamber of Commerce and Industry, says that the industries of Bara-Parsa Industrial corridor import raw materials from this customs point. MS Billets, coal, steel strips, polythene, food grains and raw materials are the other major import items.</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"">Fans, optical fiber cables, car batteries, vehicle spareparts and allopathic medicines are also imported. Customs data shows that soybean oil, juice, cloth, shoes and other products are exported from Nepal.</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"">Birgunj customs has collected revenue of Rs 170 billion in the last fiscal year. Although the foreign trade was expected to decline due to Covid-19, the customs office almost met the target by the end of last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief customs officer Poudel informed that 99.6 percent of the revenue target was raised between July 2020 to July 2021. “The amount collected is Rs 710 million less than the target. Birgunj customs was given a target of raising Rs 170.76 billion for the last fiscal year,” he told New Business Age.</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"">Imports were expected to decline after a prohibitory order was imposed in various districts since May to control the pandemic. However, the revenue target has been met as the ban has not had much effect on foreign trade.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13449', 'image' => '20210720021513_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-07-20 14:14:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13703', 'article_category_id' => '1', 'title' => 'Flights to New Delhi Increased to 6 per Week under Air Bubble Agreement', 'sub_title' => '', 'summary' => 'July 20: Aviation authorities have decided to operate six flights per week between Kathmandu and New Delhi.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: Aviation authorities have decided to operate six flights per week between Kathmandu and New Delhi. The decision was taken as per the Air Bubble Agreement between Nepal and India.</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"">Earlier, just two flights a week were operated between the two destinations due to the risk of spreading Covid-19, but now six flights will be operated, informed government officials. The number of flights has increased upon the request of Nepal .The flight schedule will be prepared soon, said Karishma Shrestha, spokesperson of the Nepal Airlines Corporation.</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 her, the state-owned airline company’s aircraft will now fly from New Delhi to Kathmandu on Mondays, Wednesdays and Saturdays. Before this agreement, the NAC used to operate one flight on Wednesday and Air India used to operate one flight on Friday. Now, both the airlines would be operating the same number of flights i.e. three each.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The NAC is preparing a flight schedule in coordination with Air India keeping in mind the convenience of the passengers. The flight will be operated in such a way that the days of aircraft takeoff from both the countries would not clash with each other.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13448', 'image' => '20210720020402_20180727021334_2.jpg', 'article_date' => '2021-07-20 14:02:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13701', 'article_category_id' => '1', 'title' => 'Government Slashes Subsidy on Agriculture and Livestock Insurance ', 'sub_title' => '', 'summary' => 'July 20: The government has cut down the subsidy being provided for agriculture and livestock insurance.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: The government has cut down the subsidy being provided for agriculture and livestock insurance. The government has reduced the subsidy for agriculture and livestock insurance by 25 percent in the budget announced for the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had been providing 75 percent subsidy on such insurance premiums. Earlier, the farmers were required to pay only 25 percent of insurance premium. However, the government will be providing only 50 percent subsidy on insurance premiums effective from the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Insurance Board has already directed insurance companies to implement the government's decision on agricultural insurance scheme. The board has recently issued a circular instructing non-life insurance companies to conduct agriculture and livestock insurance business accordingly.</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"">Raju Raman Paudel, executive director of the Insurance Board, said that the decline in the subsidy for agriculture and livestock insurance is a positive thing. "Farmers should also practice paying insurance premiums since they are also self-employed people, '' 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"">Though the government has slashed insurance subsidies for agriculture and livestock, it has introduced a new provision to provide 50 percent subsidy in insurance premium for food storage. The government has also set a target of setting up 200 food storages at the local levels in the current fiscal year. Taking this into consideration, the government is providing 50 percent subsidy on the insurance premium for food storage.</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"">Poudel said this is a new concept. "Though the government has reduced the subsidy for agricultural insurance, it has provided a 50 percent subsidy on the insurance of food storage so it has embraced the policy to encourage the agriculture sector.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Insurance Board had come up with an insurance program for agriculture sector in FY 2012/13. Since then, the government has been providing subsidies for such insurance every year.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13447', 'image' => '20210720113305_1626743229.1.jpg', 'article_date' => '2021-07-20 11:31:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13702', 'article_category_id' => '1', 'title' => 'Test of Janakpur-Jaynagar Railway Track Succeeds ', 'sub_title' => '', 'summary' => 'July 20: The speed test for the 35 km long Janakpur-Jayanagar railway track has been completed successfully.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: The speed test for the 35 km long Janakpur-Jayanagar railway track has been completed successfully. The structure of the railway track and speed test was conducted on Sunday (July 18) in order to operate the train on the route in the Nepal-India border area. </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"">Nepal had purchased two trains from India last October. However, the schedules for train operation are still unknown.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Nepal Railway Company operated Indian train on Sunday in order to test the tracks for the operation of inter-country railway service. Guru Bhattarai, the general manager of the company said that the train from Jayanagar station in Bihar, India to Janakpur’s Kurtha station in Nepal arrived in 23 minutes, with the speed of around 60 km per hour. He added, the speed of the train was 115 km per hour while returning from Kurtha station in Janakpur.</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"">"Testing and certification is the responsibility of the Indian side," he said. "If the new train was to be used for testing, there would have been great chances of damage to the structure of the track. Therefore, the test was carried out by Indian train.” </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"">Bhattarai said that the company is ready to run the train regularly as soon as the test and certification work is successfully completed. He said that the train would run regularly only after the new government takes charge of the Ministry of Physical Infrastructure and Transport and also after the formal inauguration in coordination of both the countries.</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"">"We are preparing to operate the train on this route after discussing the fare, manpower and success of track tests," Bhattarai said. "However, regular operation cannot take place until the formal inauguration and transfer of buildings and other structures by India." </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"">Fares have also been fixed for operating the trains. The cost per passenger may reach upto Rs 75 while traveling on this route. General Manager Bhattarai said that the train fare has been fixed based on the fare of Indian Railways and public buses of Nepal. He said that the train fare should not be more expensive than the bus fare. He said that the amount has to be paid while traveling in normal seats and also for travelling by standing. </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 there are deluxe seats in the train as well and the fare has been fixed at Rs 300 per passenger for deluxe seats. There are 76 deluxe seats in the train. In addition, about 1,300 people can travel at a time on the train.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company has already imparted various training to 90 Nepalis with the help of Indian Railways officials a few weeks ago for the operation of the train, while 26 Indian officials are in the process of preparing for the main operation of the train.</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"">Two trains were brought to Janakpur's Inarwa on September 18 last year and kept in a parking lot. Although the date of operation of the train has been fixed time and time again, it is not certain when the train will actually start operating.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> The company believes that the railway operation will pick up speed as soon as the government appoints a minister at the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13446', 'image' => '20210720115530_20210120113335_1611012622.Clipboard09.jpg', 'article_date' => '2021-07-20 11:54:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13700', 'article_category_id' => '1', 'title' => ' Finance Minister to Back Private Sector for Self-reliant Economy ', 'sub_title' => '', 'summary' => 'July 19: Finance Minister Janardan Sharma has assured that the government would support the 'Make in Nepal-Swadeshi' campaign forwarded by the Confederation of Nepalese Industries (CNI) in order to build a self-reliant economy. ', 'content' => '<p><em>A delegation of CNI meeting Finance Minister Janardan Sharma in this photo released by CNI on July 18. Photo Courtesy: CNI</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: Finance Minister Janardan Sharma has assured that the government would support the 'Make in Nepal-Swadeshi' campaign forwarded by the Confederation of Nepalese Industries (CNI) in order to build a self-reliant economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister made such remark during a meeting with a delegation of CNI.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Finance Minister Sharma clarified that he would back the campaign as his priority was to build a self-reliant economy, CNI said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said the government and private sector should join hands to increase production and to reduce country's import.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">“I checked the data as soon as I became a minister. I found that our import is high and export is weak. We need to change this. The government can do this by joining hands with the private sector,” said Sharma. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif""> The government would move ahead by taking the private sector in confidence for economic development and to generate employment, added Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government needs support from the private sector to reduce the impact of the Covid-19 pandemic on the country’s economy. The finance minister added that he was ready to support the private sector to create conducive environment for industrial development.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that he was ready to take into consideration the constructive criticism and suggestions from the private sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, CNI President Satish Kumar Moore congratulated Minister Sharma on behalf of the CNI for his appointment to the post of Finance Minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that vaccine to all Nepalis and programmes for economic revival were the major need of the hour, the statement added.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13445', 'image' => '20210719033604_Untitled.jpg', 'article_date' => '2021-07-19 15:27:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13698', 'article_category_id' => '1', 'title' => 'Smart Telecom gets Six more Months to Clear its Arrears', 'sub_title' => 'The Company is Liable to Pay more than Rs 6 Billion to the Government', 'summary' => 'July 19: The government has extended the deadline for Smart Telecom to clear its arrears.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: The government has extended the deadline for Smart Telecom to clear its arrears. The private telecommunication company has been given six months to clear its arrears worth over Rs 6 billion as per the cabinet decision on July 14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earlier deadline for the company to clear its arrears was July 15, 2021, according to the state-owned national news agency (RSS). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Telecommunications Authority (NTA) has already received a letter in this regard, confirmed Santosh Paudel, spokesperson for NTA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">With the extension of the deadline, Paudel said that the company has to submit its progress report to the NTA every month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTA has to carry out the analysis of the financial status of Smart Telecom on the basis of the details submitted by the company within mid-November and submit it to the concerned ministry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, the company has not paid its dues in various topics to the government since four years. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13444', 'image' => '20210719030614_20171029024916_IMAG0112.jpg', 'article_date' => '2021-07-19 15:05:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13699', 'article_category_id' => '1', 'title' => ' PM Deuba gets Vote of Confidence from HoR ', 'sub_title' => '', 'summary' => 'July 19: Prime Minister Sher Bahadur Deuba has received vote of confidence from the House of Representatives (HoR). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: Prime Minister Sher Bahadur Deuba has received vote of confidence from the House of Representatives (HoR). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a voting held in the HoR meeting on Sunday (July 18), PM Deuba received vote of confidence from Nepali Congress (NC), CPN (Maoist Centre), Janata Samajwadi Party, Nepal and Rastriya Janamorcha. Likewise, some lawmakers of the CPN (UML) also voted in favour of Deuba. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker of the HoR, Agni Prasad Sapkota, announced that PM Deuba received 165 votes in the parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 249 votes cast, Deuba got 165 votes while 83 votes were cast against the motion. According to Speaker Sapkota, one lawmaker chose to stay neutral in the voting process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker Sapkota announced that PM Deuba got vote of confidence in accordance to Article 76 (6) of the Constitution of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The HoR meeting has been postponed until July 23. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13443', 'image' => '20210719031200_20210715115732_adsafd.jpg', 'article_date' => '2021-07-19 15:11:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13697', 'article_category_id' => '1', 'title' => '100 Containers of Peas Stuck at Birgunj Dry Port', 'sub_title' => '', 'summary' => 'July 19: More than 100 containers of peas imported from third countries are stuck in the dry port of Birgunj due to procedural hassles. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 19: More than 100 containers of peas imported from third countries are stuck in the dry port of Birgunj due to procedural hassles. The containers that were imported under the quota of the Department of Commerce, Supplies and Consumer Protection (DoCSM) have been stopped at the port.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The customs officials at the dry port say that the letter written by the department to the importer is not clear about the customs clearance of the imported product. The peas imported from countries including the United States and Canada are still stuck at the port.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The department had allocated quota for importing peas, betel nuts, dates and pepper for the last fiscal year 2077/78.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The DoCSM had informed the importers on May 7 that those who received the quota had to submit the shipment documents by mid-July. If not, the quota will be automatically cancelled.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The department had also shared the information with the Department of Customs. Information Officer at the Department of Cusoms, Chudamani Kattel said that the inspection could not be done as they were not sure about the shipment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to him, the documents of about 100 containers were submitted on Sunday for inspection. He said that even though the containers have arrived at the port, they were confused by the letter issued by the department.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">“As per the letter from the department, import is possible only if the shipment documents are submitted by mid-July. So the inspection cannot be done until the this issue is clarified,” Kattel told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Furthermore, Kattel said that he had received information that the betel nuts are also stopped at Biratnagar customs due to similar procedural dilemmas.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government had allocated a quota to import 80,000 metric tons of peas in the last fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Importer Om Prakash Mor estimates that half of the goods under the allocated quota have already been imported. The other half is yet to arrive. “As of July 15 alone, 427 containers have been shipped. There are still about 1,500 containers on the way,” he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13442', 'image' => '20210719014553_20200624020915_Birgunj Dry Port.jpg', 'article_date' => '2021-07-19 13:45:01', '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' => '13711', 'article_category_id' => '1', 'title' => 'PM Deuba Pledges 'Relief Package' for Coronavirus-Affected Industries', 'sub_title' => '', 'summary' => 'July 22: Prime Minister Sher Bahadur Deuba has promised'relief package' to prop up the industries and enterprises that suffered worst due to the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 22: Prime Minister Sher Bahadur Deuba has promised 'relief package' to prop up the industries and enterprises that suffered worst due to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inaugurating the 18th assembly of the Confederation of Nepalese Industries on Wednesday, PM Deuba shared that he was planning a special package on how the industries suffering much in the wake of COVID-19 and lockdown could be restored so that they could contribute to the national economy again. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have given priority to vaccinate all citizens against COVID-19 and utilize their knowledge and skills for the national economy and development," he said, adding that investment promotion was equally important. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba reiterated that although development is always a priority, saving people's lives gets utmost priority now. "It's challenging to face pandemic, so human safety is first priority," he underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Minister Janardan Sharma expressed his view that the pandemic reminded all of us to strengthen self-reliant economy. He appreciated the 'make in Nepal' campaign launched by the CNI. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">"The government is for taking the private sector into confidence to revive the national economy which has been dented much by the pandemic,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, founding chair of the Confederation, Binod Chaudhari, said the Confederation was acting as a think-tank. He claimed that the economic reform launched by the Nepali Congress-led government following the restoration of democracy in 1990 had tremendous contribution to the country's economic development, augmentation of private sector and investment opportunities. Now, in the changed context, second phase of such reform could be launched, he suggested the government. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-07-22', 'modified' => '2021-07-22', 'keywords' => '', 'description' => '', 'sortorder' => '13456', 'image' => '20210722052349_9D3A8542.JPG', 'article_date' => '2021-07-22 12:16:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13710', 'article_category_id' => '1', 'title' => 'Over 1000 Business Firms Fined for Violating Code of Conduct', 'sub_title' => '', 'summary' => 'July 22: The Department of Commerce, Supplies and Consumer Protection has taken action against over 1,000 firms and companies for violating the business code of conduct. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 22: The Department of Commerce, Supplies and Consumer Protection has taken action against over 1,000 firms and companies for violating the business code of conduct. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency (RSS), the department found 1,035 business firms and companies indulging in inappropriate trade activities during the fiscal year 2020-21. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department had conducted a monitoring of 2,947 during last year. Among them, the department suggested general improvements for 1,597 companies while 397 firms were demanded to furnish required documents and sought clarifications. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the department’s data, samples were collected from 37 firms for a laboratory test while the transactions of 38 firms were suspended. Cases have been filed against 19 people and three vehicles have been taken under control. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has collected revenue worth Rs 23.98 million in fines, informed Spokesperson of the Department Shibaraj Shedhai. Similarly, adulterated foodstuff worth Rs 37.38 million was destroyed during the period. </span></span></span></p> ', 'published' => true, 'created' => '2021-07-22', 'modified' => '2021-07-22', 'keywords' => '', 'description' => '', 'sortorder' => '13455', 'image' => '20210722115626_1626842255.jpg', 'article_date' => '2021-07-22 11:54:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13709', 'article_category_id' => '1', 'title' => 'Automobile Business Slumps Even After Relaxation of Lockdown', 'sub_title' => '', 'summary' => 'July 21: After a two-month-long prohibitory order, a meeting of the chief district officers of Kathmandu Valley decided to allow the automobile business to reopen.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 21: After a two-month-long prohibitory order, a meeting of the chief district officers of Kathmandu Valley decided to allow the automobile business to reopen. Entrepreneurs were expecting the market to revitalize after the prohibitory order was lifted. However, even after the market has reopened, the sales of vehicles are still almost null.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the businessmen, no customer walk in the showroom to inquiry about the vehicles. Anup Kumar Baral, the CEO of Narayani Auto Business Private Limited and the secretary of the Nepal Automobile Dealers Association (NADA), an umbrella organization of automobile dealers, said that the market has not been able to normalize even after the government lifted a ban on their business recently.</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"">"For some time now, a number of people coming for general inquiry for vehicles have started to show up," he said. "But the demand has declined." After the lifting of lockdown last year, the demand for vehicles went up and recorded the highest in January. Entrepreneurs could not import vehicles as per the demand as it was difficult to import due to the low production of vehicles in India. Therefore, businessmen had started booking vehicles in advance before the prohibitory order was imposed. However, this time the demand for vehicles has not increased even though the prohibition has been relaxed.</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"">Before the Covid-19 pandemic, the peak season for the sale of automobiles was between June to October every year. Kailash Babu Gelal, Managing Director of G Motors, said that the public’s attraction towards the automobile business has not been seen since the last one and a half years. Before the pandemic, there used to be the NADA auto show in October, because of which, the import of new variants of vehicles used to increase right after February.</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 market is still not able to gain the pace as it had last year. He informed that the people have started inquiring about low-priced vehicles.</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"">Demand for two-wheelers had doubled last year. On the contrary, there is no demand for two-wheelers at all this year, said Abhik Jyoti, director of Nepal General Marketing, Nepal's official dealer for Hero Motors. </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"">"Before the implementation of the prohibitory order, there was more demand in April than any other time," he said. "As the market has just opened up, we can't say whether the situation is good or bad right now, but there is no demand."</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> There won’t be NADA Auto Show this year as well</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The NADA Auto Show, which is considered to be the biggest show of automobiles, will not be held this year either. The chairman of NADA, Krishna Prasad Dulal, said that there would be no auto show as the rate of coronavirus infection has not decreased and the government has not been able to provide adequate vaccination.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The infection has not declined. Experts are warning of a third wave," he said. "We are preparing not to hold auto shows by giving the health of consumers and businessmen a top priority."</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 will discuss about the auto show after the condition becomes normal and everyone gets vaccinated. The topic will most probably be discussed after Dashain-Tihar, added Dulal.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13454', 'image' => '20210721035520_1626824705.Clipboard07.jpg', 'article_date' => '2021-07-21 15:54:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13708', 'article_category_id' => '1', 'title' => 'Finance Minister Concerned about Weak Capital Expenditure', 'sub_title' => '', 'summary' => 'July 21: Newly-appointed Finance Minister Janardan Sharma has expressed concern regarding the tendency of not spending 100 percent of the allocated capital budget in the recent years.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 21: Newly-appointed Finance Minister Janardan Sharma has expressed concern regarding the tendency of not spending 100 percent of the allocated capital budget in the recent years.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">During a recent interaction on development and capital expenditure with the secretaries of the Ministry of Finance, he sought reasons for poor spending. He asked the secretaries of the ministries about the low capital expenditure and the expenses at the end of the fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">In response, the secretaries pointed out to the Covid-19 pandemic as the main reason for the flaw.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Similarly, they also pointed to that the lack of skilled manpower in various project, disbursement of funds to projects without adequate preparation, delay in contract signing process, uncertainty of funds in foreign-aided projects, difficulty in land acquisition, allocation of funds to small projects, delay in formulating procedures and criteria for project operation and lack of inter-ministerial coordination were the other reasons behind unachieved target of capital expenditure.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Finance Minister Sharma directed the secretaries to submit necessary suggestions to the Government of Nepal, the Council of Ministers and the Ministry of Finance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Sharma said that the work done in the traditional format and style cannot achieve the expected results. For this, Sharma stressed on the need for the staff to present a concrete action plan with innovative thoughts for improved performance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Finance Secretary Shishir Kumar Dhungana, in the last fiscal year 2077/78, the expenditure of Ministry of Water Supply was 36.81 percent, the Ministry of Physical Infrastructure and Transport 75.3 percent, the Ministry of Urban Development 87 percent, the Ministry of Federal Affairs and General Administration 77.79 percent and the Ministry of Energy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government has already submitted the budget ordinance of the current fiscal year 2078/79 to the parliament. The Ministry of Finance is preparing to amend the ordinance and endorse the budget. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13453', 'image' => '20210721015847_20190609013126_20190531021713_Budget.jpg', 'article_date' => '2021-07-21 13:58:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13707', 'article_category_id' => '1', 'title' => '43,000 Additional Women receive Concessional Loans', 'sub_title' => '', 'summary' => 'July 21: In recent times, most of the concessional loans have flowed to women entrepreneurs.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 21: In recent times, most of the concessional loans have flowed to women entrepreneurs. Altogether 43,831 individuals have received the women entrepreneurship loans from banks and financial institutions (BFIs) in the first 11 months of the Fiscal Year 2020/21.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The number of women taking loans under this heading has reached 50,513 as of mid-June. The debt arrear was Rs 44.66 billion under this heading during the review period. In the previous fiscal year, only 6,682 women had availed such loan. However, this number has been increasing every month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">There is a provision to take a concessional loan under the heading of Women Entrepreneurship at a subsidized interest rate of 6 percent. Individuals can apply for up to Rs 1.5 million per person. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Although loan under this heading should be provided without any collateral, BFIs are found seeking collateral from the service seekers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Chairman of the Nepal Bankers' Association Bhuvan Kumar Dahal says that the banks are willing to provide women entrepreneurship loans by keeping collateral as there is high risk of giving loans without collateral.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to the Nepal Rastra Bank, individuals taking concessional loans for CTEVT trainings is the lowest among those seeking concessional loans. Only two people have taken such loan worth Rs 370,000. Bankers say that such loans do not flow because of the low demand under the heading. Similarly, only three individuals have taken youth self-employment loan. This heading has arrears of Rs 1.5 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">So far, only 141 borrowers have availed the 'Educated Youth Self-Employment Loan' under the concessional loan programme of the government. Statistics show that they have a debt of Rs 62.6 million. In the first 11 months of the last fiscal year, 76 more individuals received Educated Youth Self-Employment Loan'.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Individuals complain that bankers are hesitant to offer loans to students against their certificate despite the government’s announcement to avail loans to students by keeping their certificates as collateral. Bankers say there is a risk in giving loans to students against their certificates. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government has announced loans up to Rs 2.5 million for students in the budget of the current fiscal year. However, it would be hard to avail such loan unless there is an excellent project plan and trust, says Dahal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Approximately 791 people have availed the Youth Project Loan for Returnee Migrant Workers. BFIs have provided Rs 578.2 million to the returnee workers under this heading.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Similarly, banks have disbursed Dalit community business development loans worth Rs 522 million to 857 individuals. So far, 232 earthquake-affected people have received loans for the construction of private houses. In addition, 218 garment manufacturers have also availed concessional loans worth Rs 2.23 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Narayan Prasad Poudel, Joint Spokesperson of the Central Bank, 96,852 borrowers have availed concessional loans of Rs 150.96 billion in 11 months of last fiscal year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13452', 'image' => '20210721120621_20210605063901_Business Bank Loans.jpg', 'article_date' => '2021-07-21 12:05:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13706', 'article_category_id' => '1', 'title' => 'IFC Appoints Hector Gomez as Regional Director for South Asia', 'sub_title' => '', 'summary' => 'July 21: The International Finance Corporation (IFC) has appointed Hector Gomez Ang as its regional director for South Asia. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">July 21: The International Finance Corporation (IFC) has appointed Hector Gomez Ang as its regional director for South Asia. Based in New Delhi, he will play a critical role in boosting IFC’s investments in the region as it looks to recover from the severe impacts of Covid-19, IFC said in a statement on July 20.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Assuming his new role, Gomez Ang said the private sector had an essential role in South Asia’s recovery from Covid-19, easing the burden on constrained public finances and reducing rising levels of poverty, due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif""> “The pandemic has left a scar on countries throughout the region, exacting a huge human toll of which we must remain mindful. We must also accept that we may have to live with the lingering impacts of Covid-19 for some time to come, and so it’s all the more imperative to continue to work together to support jobs and economic growth,” the statement quoted Gomez Ang as saying.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“That also means we must do what’s needed to ensure private sector investments can flow to where it’s needed, and in industries, we know can support economic activity,” he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">According to IFC, its focus in South Asia will continue to centre on providing much-needed liquidity to private sector companies in the region so they can maintain operations, preserve and create jobs. IFC will also look to further support the region’s most vulnerable people by helping deliver more funding for hard-hit micro, small and medium-sized enterprises as well as promoting green growth through investments in sustainable infrastructures, such as renewable energy and digital connectivity, to foster a greener, more resilient, and inclusive recovery from Covid-19, the statement added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">"IFC will continue to prioritize climate investments in the region and help countries meet their nationally determined contributions under the Paris Accord," Gomez Ang added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Gomez Ang previously served as country manager for Angola, Mozambique, Zambia, and Botswana. A Mexican national, Gomez Ang joined IFC in Mexico City in 2006 as an investment officer, where he led business development in Mexico and Central America. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Gomez Ang succeeds Mengistu Alemayehu, who has assumed a new role as IFC’s Director of Global Equity Mobilization.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13451', 'image' => '20210721111801_1626770274.ifc.jpg', 'article_date' => '2021-07-21 11:16:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13705', 'article_category_id' => '1', 'title' => 'Government Preparing Skilled Manpower for Construction of Tunnels within the Country', 'sub_title' => '', 'summary' => ' July 20: The government has proposed building tunnels in different parts of the country but it lacks skilled manpower.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">July 20: The government has proposed building tunnels in different parts of the country but it lacks skilled manpower. To address this problem, the government had reached an agreement with the Japanese construction company to deploy Nepali engineers and technicians at the Nagdhunga-Naubise tunnel in order to develop skilled manpower.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">As the construction of the tunnel progresses, skilled manpower is also being generated within the country. Exposure to this project has given opportunity to the country’s manpower to acquire skills to build tunnels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Currently, 150 people, both Nepali and Japanese, are working on this project. Fifteen of them include employees of the construction company, Hajma Ando Corporation of Japal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Project Chief Nareshman Shakya said that the construction company has been using Nepali workers since the start of the digging work of the tunnel. According to him, 25 engineers, six geologists, 12 tunnel supervisors, 12 surveyors, and 35 operators have been deployed in the project from Nepal so far. They have gained experience in various aspects of the tunnel. Likewise, there are 45 other ordinary workers.</span><br /> <br /> <span style="font-family:"Arial","sans-serif"">Shakya said that the engineers and technicians deployed at the site are learning about tunnel construction with great interest. Likewise, they are also learning ways to dig a tunnel and also aspects of quality management. "In some cases, the site is controlled by Nepali engineers," said Shakya.<br /> <br /> He said that the operators have started learning how to operate the machines and how to tilt them. He said that Nepalis are digging the tunnels, operating machines on their own. There are also automatic machines and equipment inside the tunnel. Nepalis are now replacing Japanese workers in this project.<br /> <br /> As soon as the tunnel was built, it became clear how to use the equipment. He also said that Nepali engineers, operators, and in-charges are learning about tools used for constructing a tunnel on the highways, and methods of drilling.<br /> <br /> Engineers and technicians from the Department of Roads and construction companies have been deployed in constructing the tunnel. "Currently, technicians from the private sector are also working and learning. Later, when they are trained, they can teach others,” said Shakya.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13450', 'image' => '20210720023725_20210524031735_20210408031917_20190825123459_Clipboard01.jpg', 'article_date' => '2021-07-20 14:36:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13704', 'article_category_id' => '1', 'title' => 'Vehicle and Fuel Import Dominates Foreign Trade via Birgunj Customs', 'sub_title' => '', 'summary' => 'July 20: Import of vehicles and fuel dominated Nepal’s foreign trade through the Birgunj customs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: Import of vehicles and fuel dominated Nepal’s foreign trade through the Birgunj customs. The data of the customs department shows that vehicles and fuel imported through Birgunj customs were the major contributors to government revenue in the last fiscal year (FY 2020/21).</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"">“Vehicles and petroleum products are the main products entering through Birgunj customs. These items have been included as the major import in the last fiscal year as well,” said chief customs officer Harihar Poudel.</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"">Vehicles including jeeps, vans, motorcycles, trucks, mini-trucks as well as fuel in large quantity have entered the country from this checkpoint in the last fiscal year. A significant amount of industrial raw materials also enters through this checkpoint.</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"">Hari Gautam, coordinator of the Birgunj Chamber of Commerce and Industry, says that the industries of Bara-Parsa Industrial corridor import raw materials from this customs point. MS Billets, coal, steel strips, polythene, food grains and raw materials are the other major import items.</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"">Fans, optical fiber cables, car batteries, vehicle spareparts and allopathic medicines are also imported. Customs data shows that soybean oil, juice, cloth, shoes and other products are exported from Nepal.</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"">Birgunj customs has collected revenue of Rs 170 billion in the last fiscal year. Although the foreign trade was expected to decline due to Covid-19, the customs office almost met the target by the end of last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief customs officer Poudel informed that 99.6 percent of the revenue target was raised between July 2020 to July 2021. “The amount collected is Rs 710 million less than the target. Birgunj customs was given a target of raising Rs 170.76 billion for the last fiscal year,” he told New Business Age.</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"">Imports were expected to decline after a prohibitory order was imposed in various districts since May to control the pandemic. However, the revenue target has been met as the ban has not had much effect on foreign trade.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13449', 'image' => '20210720021513_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-07-20 14:14:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13703', 'article_category_id' => '1', 'title' => 'Flights to New Delhi Increased to 6 per Week under Air Bubble Agreement', 'sub_title' => '', 'summary' => 'July 20: Aviation authorities have decided to operate six flights per week between Kathmandu and New Delhi.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: Aviation authorities have decided to operate six flights per week between Kathmandu and New Delhi. The decision was taken as per the Air Bubble Agreement between Nepal and India.</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"">Earlier, just two flights a week were operated between the two destinations due to the risk of spreading Covid-19, but now six flights will be operated, informed government officials. The number of flights has increased upon the request of Nepal .The flight schedule will be prepared soon, said Karishma Shrestha, spokesperson of the Nepal Airlines Corporation.</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 her, the state-owned airline company’s aircraft will now fly from New Delhi to Kathmandu on Mondays, Wednesdays and Saturdays. Before this agreement, the NAC used to operate one flight on Wednesday and Air India used to operate one flight on Friday. Now, both the airlines would be operating the same number of flights i.e. three each.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The NAC is preparing a flight schedule in coordination with Air India keeping in mind the convenience of the passengers. The flight will be operated in such a way that the days of aircraft takeoff from both the countries would not clash with each other.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13448', 'image' => '20210720020402_20180727021334_2.jpg', 'article_date' => '2021-07-20 14:02:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13701', 'article_category_id' => '1', 'title' => 'Government Slashes Subsidy on Agriculture and Livestock Insurance ', 'sub_title' => '', 'summary' => 'July 20: The government has cut down the subsidy being provided for agriculture and livestock insurance.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: The government has cut down the subsidy being provided for agriculture and livestock insurance. The government has reduced the subsidy for agriculture and livestock insurance by 25 percent in the budget announced for the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had been providing 75 percent subsidy on such insurance premiums. Earlier, the farmers were required to pay only 25 percent of insurance premium. However, the government will be providing only 50 percent subsidy on insurance premiums effective from the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Insurance Board has already directed insurance companies to implement the government's decision on agricultural insurance scheme. The board has recently issued a circular instructing non-life insurance companies to conduct agriculture and livestock insurance business accordingly.</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"">Raju Raman Paudel, executive director of the Insurance Board, said that the decline in the subsidy for agriculture and livestock insurance is a positive thing. "Farmers should also practice paying insurance premiums since they are also self-employed people, '' 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"">Though the government has slashed insurance subsidies for agriculture and livestock, it has introduced a new provision to provide 50 percent subsidy in insurance premium for food storage. The government has also set a target of setting up 200 food storages at the local levels in the current fiscal year. Taking this into consideration, the government is providing 50 percent subsidy on the insurance premium for food storage.</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"">Poudel said this is a new concept. "Though the government has reduced the subsidy for agricultural insurance, it has provided a 50 percent subsidy on the insurance of food storage so it has embraced the policy to encourage the agriculture sector.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Insurance Board had come up with an insurance program for agriculture sector in FY 2012/13. Since then, the government has been providing subsidies for such insurance every year.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13447', 'image' => '20210720113305_1626743229.1.jpg', 'article_date' => '2021-07-20 11:31:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13702', 'article_category_id' => '1', 'title' => 'Test of Janakpur-Jaynagar Railway Track Succeeds ', 'sub_title' => '', 'summary' => 'July 20: The speed test for the 35 km long Janakpur-Jayanagar railway track has been completed successfully.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: The speed test for the 35 km long Janakpur-Jayanagar railway track has been completed successfully. The structure of the railway track and speed test was conducted on Sunday (July 18) in order to operate the train on the route in the Nepal-India border area. </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"">Nepal had purchased two trains from India last October. However, the schedules for train operation are still unknown.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Nepal Railway Company operated Indian train on Sunday in order to test the tracks for the operation of inter-country railway service. Guru Bhattarai, the general manager of the company said that the train from Jayanagar station in Bihar, India to Janakpur’s Kurtha station in Nepal arrived in 23 minutes, with the speed of around 60 km per hour. He added, the speed of the train was 115 km per hour while returning from Kurtha station in Janakpur.</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"">"Testing and certification is the responsibility of the Indian side," he said. "If the new train was to be used for testing, there would have been great chances of damage to the structure of the track. Therefore, the test was carried out by Indian train.” </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"">Bhattarai said that the company is ready to run the train regularly as soon as the test and certification work is successfully completed. He said that the train would run regularly only after the new government takes charge of the Ministry of Physical Infrastructure and Transport and also after the formal inauguration in coordination of both the countries.</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"">"We are preparing to operate the train on this route after discussing the fare, manpower and success of track tests," Bhattarai said. "However, regular operation cannot take place until the formal inauguration and transfer of buildings and other structures by India." </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"">Fares have also been fixed for operating the trains. The cost per passenger may reach upto Rs 75 while traveling on this route. General Manager Bhattarai said that the train fare has been fixed based on the fare of Indian Railways and public buses of Nepal. He said that the train fare should not be more expensive than the bus fare. He said that the amount has to be paid while traveling in normal seats and also for travelling by standing. </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 there are deluxe seats in the train as well and the fare has been fixed at Rs 300 per passenger for deluxe seats. There are 76 deluxe seats in the train. In addition, about 1,300 people can travel at a time on the train.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company has already imparted various training to 90 Nepalis with the help of Indian Railways officials a few weeks ago for the operation of the train, while 26 Indian officials are in the process of preparing for the main operation of the train.</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"">Two trains were brought to Janakpur's Inarwa on September 18 last year and kept in a parking lot. Although the date of operation of the train has been fixed time and time again, it is not certain when the train will actually start operating.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> The company believes that the railway operation will pick up speed as soon as the government appoints a minister at the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13446', 'image' => '20210720115530_20210120113335_1611012622.Clipboard09.jpg', 'article_date' => '2021-07-20 11:54:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13700', 'article_category_id' => '1', 'title' => ' Finance Minister to Back Private Sector for Self-reliant Economy ', 'sub_title' => '', 'summary' => 'July 19: Finance Minister Janardan Sharma has assured that the government would support the 'Make in Nepal-Swadeshi' campaign forwarded by the Confederation of Nepalese Industries (CNI) in order to build a self-reliant economy. ', 'content' => '<p><em>A delegation of CNI meeting Finance Minister Janardan Sharma in this photo released by CNI on July 18. Photo Courtesy: CNI</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: Finance Minister Janardan Sharma has assured that the government would support the 'Make in Nepal-Swadeshi' campaign forwarded by the Confederation of Nepalese Industries (CNI) in order to build a self-reliant economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister made such remark during a meeting with a delegation of CNI.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Finance Minister Sharma clarified that he would back the campaign as his priority was to build a self-reliant economy, CNI said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said the government and private sector should join hands to increase production and to reduce country's import.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">“I checked the data as soon as I became a minister. I found that our import is high and export is weak. We need to change this. The government can do this by joining hands with the private sector,” said Sharma. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif""> The government would move ahead by taking the private sector in confidence for economic development and to generate employment, added Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government needs support from the private sector to reduce the impact of the Covid-19 pandemic on the country’s economy. The finance minister added that he was ready to support the private sector to create conducive environment for industrial development.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that he was ready to take into consideration the constructive criticism and suggestions from the private sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, CNI President Satish Kumar Moore congratulated Minister Sharma on behalf of the CNI for his appointment to the post of Finance Minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that vaccine to all Nepalis and programmes for economic revival were the major need of the hour, the statement added.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13445', 'image' => '20210719033604_Untitled.jpg', 'article_date' => '2021-07-19 15:27:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13698', 'article_category_id' => '1', 'title' => 'Smart Telecom gets Six more Months to Clear its Arrears', 'sub_title' => 'The Company is Liable to Pay more than Rs 6 Billion to the Government', 'summary' => 'July 19: The government has extended the deadline for Smart Telecom to clear its arrears.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: The government has extended the deadline for Smart Telecom to clear its arrears. The private telecommunication company has been given six months to clear its arrears worth over Rs 6 billion as per the cabinet decision on July 14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earlier deadline for the company to clear its arrears was July 15, 2021, according to the state-owned national news agency (RSS). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Telecommunications Authority (NTA) has already received a letter in this regard, confirmed Santosh Paudel, spokesperson for NTA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">With the extension of the deadline, Paudel said that the company has to submit its progress report to the NTA every month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTA has to carry out the analysis of the financial status of Smart Telecom on the basis of the details submitted by the company within mid-November and submit it to the concerned ministry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, the company has not paid its dues in various topics to the government since four years. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13444', 'image' => '20210719030614_20171029024916_IMAG0112.jpg', 'article_date' => '2021-07-19 15:05:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13699', 'article_category_id' => '1', 'title' => ' PM Deuba gets Vote of Confidence from HoR ', 'sub_title' => '', 'summary' => 'July 19: Prime Minister Sher Bahadur Deuba has received vote of confidence from the House of Representatives (HoR). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: Prime Minister Sher Bahadur Deuba has received vote of confidence from the House of Representatives (HoR). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a voting held in the HoR meeting on Sunday (July 18), PM Deuba received vote of confidence from Nepali Congress (NC), CPN (Maoist Centre), Janata Samajwadi Party, Nepal and Rastriya Janamorcha. Likewise, some lawmakers of the CPN (UML) also voted in favour of Deuba. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker of the HoR, Agni Prasad Sapkota, announced that PM Deuba received 165 votes in the parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 249 votes cast, Deuba got 165 votes while 83 votes were cast against the motion. According to Speaker Sapkota, one lawmaker chose to stay neutral in the voting process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker Sapkota announced that PM Deuba got vote of confidence in accordance to Article 76 (6) of the Constitution of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The HoR meeting has been postponed until July 23. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13443', 'image' => '20210719031200_20210715115732_adsafd.jpg', 'article_date' => '2021-07-19 15:11:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13697', 'article_category_id' => '1', 'title' => '100 Containers of Peas Stuck at Birgunj Dry Port', 'sub_title' => '', 'summary' => 'July 19: More than 100 containers of peas imported from third countries are stuck in the dry port of Birgunj due to procedural hassles. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 19: More than 100 containers of peas imported from third countries are stuck in the dry port of Birgunj due to procedural hassles. The containers that were imported under the quota of the Department of Commerce, Supplies and Consumer Protection (DoCSM) have been stopped at the port.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The customs officials at the dry port say that the letter written by the department to the importer is not clear about the customs clearance of the imported product. The peas imported from countries including the United States and Canada are still stuck at the port.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The department had allocated quota for importing peas, betel nuts, dates and pepper for the last fiscal year 2077/78.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The DoCSM had informed the importers on May 7 that those who received the quota had to submit the shipment documents by mid-July. If not, the quota will be automatically cancelled.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The department had also shared the information with the Department of Customs. Information Officer at the Department of Cusoms, Chudamani Kattel said that the inspection could not be done as they were not sure about the shipment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to him, the documents of about 100 containers were submitted on Sunday for inspection. He said that even though the containers have arrived at the port, they were confused by the letter issued by the department.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">“As per the letter from the department, import is possible only if the shipment documents are submitted by mid-July. So the inspection cannot be done until the this issue is clarified,” Kattel told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Furthermore, Kattel said that he had received information that the betel nuts are also stopped at Biratnagar customs due to similar procedural dilemmas.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government had allocated a quota to import 80,000 metric tons of peas in the last fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Importer Om Prakash Mor estimates that half of the goods under the allocated quota have already been imported. The other half is yet to arrive. “As of July 15 alone, 427 containers have been shipped. There are still about 1,500 containers on the way,” he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13442', 'image' => '20210719014553_20200624020915_Birgunj Dry Port.jpg', 'article_date' => '2021-07-19 13:45:01', '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' => '13711', 'article_category_id' => '1', 'title' => 'PM Deuba Pledges 'Relief Package' for Coronavirus-Affected Industries', 'sub_title' => '', 'summary' => 'July 22: Prime Minister Sher Bahadur Deuba has promised'relief package' to prop up the industries and enterprises that suffered worst due to the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 22: Prime Minister Sher Bahadur Deuba has promised 'relief package' to prop up the industries and enterprises that suffered worst due to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inaugurating the 18th assembly of the Confederation of Nepalese Industries on Wednesday, PM Deuba shared that he was planning a special package on how the industries suffering much in the wake of COVID-19 and lockdown could be restored so that they could contribute to the national economy again. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have given priority to vaccinate all citizens against COVID-19 and utilize their knowledge and skills for the national economy and development," he said, adding that investment promotion was equally important. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba reiterated that although development is always a priority, saving people's lives gets utmost priority now. "It's challenging to face pandemic, so human safety is first priority," he underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Minister Janardan Sharma expressed his view that the pandemic reminded all of us to strengthen self-reliant economy. He appreciated the 'make in Nepal' campaign launched by the CNI. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">"The government is for taking the private sector into confidence to revive the national economy which has been dented much by the pandemic,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, founding chair of the Confederation, Binod Chaudhari, said the Confederation was acting as a think-tank. He claimed that the economic reform launched by the Nepali Congress-led government following the restoration of democracy in 1990 had tremendous contribution to the country's economic development, augmentation of private sector and investment opportunities. Now, in the changed context, second phase of such reform could be launched, he suggested the government. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-07-22', 'modified' => '2021-07-22', 'keywords' => '', 'description' => '', 'sortorder' => '13456', 'image' => '20210722052349_9D3A8542.JPG', 'article_date' => '2021-07-22 12:16:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13710', 'article_category_id' => '1', 'title' => 'Over 1000 Business Firms Fined for Violating Code of Conduct', 'sub_title' => '', 'summary' => 'July 22: The Department of Commerce, Supplies and Consumer Protection has taken action against over 1,000 firms and companies for violating the business code of conduct. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 22: The Department of Commerce, Supplies and Consumer Protection has taken action against over 1,000 firms and companies for violating the business code of conduct. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency (RSS), the department found 1,035 business firms and companies indulging in inappropriate trade activities during the fiscal year 2020-21. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department had conducted a monitoring of 2,947 during last year. Among them, the department suggested general improvements for 1,597 companies while 397 firms were demanded to furnish required documents and sought clarifications. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the department’s data, samples were collected from 37 firms for a laboratory test while the transactions of 38 firms were suspended. Cases have been filed against 19 people and three vehicles have been taken under control. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has collected revenue worth Rs 23.98 million in fines, informed Spokesperson of the Department Shibaraj Shedhai. Similarly, adulterated foodstuff worth Rs 37.38 million was destroyed during the period. </span></span></span></p> ', 'published' => true, 'created' => '2021-07-22', 'modified' => '2021-07-22', 'keywords' => '', 'description' => '', 'sortorder' => '13455', 'image' => '20210722115626_1626842255.jpg', 'article_date' => '2021-07-22 11:54:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13709', 'article_category_id' => '1', 'title' => 'Automobile Business Slumps Even After Relaxation of Lockdown', 'sub_title' => '', 'summary' => 'July 21: After a two-month-long prohibitory order, a meeting of the chief district officers of Kathmandu Valley decided to allow the automobile business to reopen.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 21: After a two-month-long prohibitory order, a meeting of the chief district officers of Kathmandu Valley decided to allow the automobile business to reopen. Entrepreneurs were expecting the market to revitalize after the prohibitory order was lifted. However, even after the market has reopened, the sales of vehicles are still almost null.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the businessmen, no customer walk in the showroom to inquiry about the vehicles. Anup Kumar Baral, the CEO of Narayani Auto Business Private Limited and the secretary of the Nepal Automobile Dealers Association (NADA), an umbrella organization of automobile dealers, said that the market has not been able to normalize even after the government lifted a ban on their business recently.</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"">"For some time now, a number of people coming for general inquiry for vehicles have started to show up," he said. "But the demand has declined." After the lifting of lockdown last year, the demand for vehicles went up and recorded the highest in January. Entrepreneurs could not import vehicles as per the demand as it was difficult to import due to the low production of vehicles in India. Therefore, businessmen had started booking vehicles in advance before the prohibitory order was imposed. However, this time the demand for vehicles has not increased even though the prohibition has been relaxed.</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"">Before the Covid-19 pandemic, the peak season for the sale of automobiles was between June to October every year. Kailash Babu Gelal, Managing Director of G Motors, said that the public’s attraction towards the automobile business has not been seen since the last one and a half years. Before the pandemic, there used to be the NADA auto show in October, because of which, the import of new variants of vehicles used to increase right after February.</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 market is still not able to gain the pace as it had last year. He informed that the people have started inquiring about low-priced vehicles.</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"">Demand for two-wheelers had doubled last year. On the contrary, there is no demand for two-wheelers at all this year, said Abhik Jyoti, director of Nepal General Marketing, Nepal's official dealer for Hero Motors. </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"">"Before the implementation of the prohibitory order, there was more demand in April than any other time," he said. "As the market has just opened up, we can't say whether the situation is good or bad right now, but there is no demand."</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> There won’t be NADA Auto Show this year as well</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The NADA Auto Show, which is considered to be the biggest show of automobiles, will not be held this year either. The chairman of NADA, Krishna Prasad Dulal, said that there would be no auto show as the rate of coronavirus infection has not decreased and the government has not been able to provide adequate vaccination.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The infection has not declined. Experts are warning of a third wave," he said. "We are preparing not to hold auto shows by giving the health of consumers and businessmen a top priority."</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 will discuss about the auto show after the condition becomes normal and everyone gets vaccinated. The topic will most probably be discussed after Dashain-Tihar, added Dulal.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13454', 'image' => '20210721035520_1626824705.Clipboard07.jpg', 'article_date' => '2021-07-21 15:54:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13708', 'article_category_id' => '1', 'title' => 'Finance Minister Concerned about Weak Capital Expenditure', 'sub_title' => '', 'summary' => 'July 21: Newly-appointed Finance Minister Janardan Sharma has expressed concern regarding the tendency of not spending 100 percent of the allocated capital budget in the recent years.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 21: Newly-appointed Finance Minister Janardan Sharma has expressed concern regarding the tendency of not spending 100 percent of the allocated capital budget in the recent years.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">During a recent interaction on development and capital expenditure with the secretaries of the Ministry of Finance, he sought reasons for poor spending. He asked the secretaries of the ministries about the low capital expenditure and the expenses at the end of the fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">In response, the secretaries pointed out to the Covid-19 pandemic as the main reason for the flaw.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Similarly, they also pointed to that the lack of skilled manpower in various project, disbursement of funds to projects without adequate preparation, delay in contract signing process, uncertainty of funds in foreign-aided projects, difficulty in land acquisition, allocation of funds to small projects, delay in formulating procedures and criteria for project operation and lack of inter-ministerial coordination were the other reasons behind unachieved target of capital expenditure.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Finance Minister Sharma directed the secretaries to submit necessary suggestions to the Government of Nepal, the Council of Ministers and the Ministry of Finance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Sharma said that the work done in the traditional format and style cannot achieve the expected results. For this, Sharma stressed on the need for the staff to present a concrete action plan with innovative thoughts for improved performance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Finance Secretary Shishir Kumar Dhungana, in the last fiscal year 2077/78, the expenditure of Ministry of Water Supply was 36.81 percent, the Ministry of Physical Infrastructure and Transport 75.3 percent, the Ministry of Urban Development 87 percent, the Ministry of Federal Affairs and General Administration 77.79 percent and the Ministry of Energy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government has already submitted the budget ordinance of the current fiscal year 2078/79 to the parliament. The Ministry of Finance is preparing to amend the ordinance and endorse the budget. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13453', 'image' => '20210721015847_20190609013126_20190531021713_Budget.jpg', 'article_date' => '2021-07-21 13:58:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13707', 'article_category_id' => '1', 'title' => '43,000 Additional Women receive Concessional Loans', 'sub_title' => '', 'summary' => 'July 21: In recent times, most of the concessional loans have flowed to women entrepreneurs.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 21: In recent times, most of the concessional loans have flowed to women entrepreneurs. Altogether 43,831 individuals have received the women entrepreneurship loans from banks and financial institutions (BFIs) in the first 11 months of the Fiscal Year 2020/21.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The number of women taking loans under this heading has reached 50,513 as of mid-June. The debt arrear was Rs 44.66 billion under this heading during the review period. In the previous fiscal year, only 6,682 women had availed such loan. However, this number has been increasing every month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">There is a provision to take a concessional loan under the heading of Women Entrepreneurship at a subsidized interest rate of 6 percent. Individuals can apply for up to Rs 1.5 million per person. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Although loan under this heading should be provided without any collateral, BFIs are found seeking collateral from the service seekers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Chairman of the Nepal Bankers' Association Bhuvan Kumar Dahal says that the banks are willing to provide women entrepreneurship loans by keeping collateral as there is high risk of giving loans without collateral.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to the Nepal Rastra Bank, individuals taking concessional loans for CTEVT trainings is the lowest among those seeking concessional loans. Only two people have taken such loan worth Rs 370,000. Bankers say that such loans do not flow because of the low demand under the heading. Similarly, only three individuals have taken youth self-employment loan. This heading has arrears of Rs 1.5 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">So far, only 141 borrowers have availed the 'Educated Youth Self-Employment Loan' under the concessional loan programme of the government. Statistics show that they have a debt of Rs 62.6 million. In the first 11 months of the last fiscal year, 76 more individuals received Educated Youth Self-Employment Loan'.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Individuals complain that bankers are hesitant to offer loans to students against their certificate despite the government’s announcement to avail loans to students by keeping their certificates as collateral. Bankers say there is a risk in giving loans to students against their certificates. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government has announced loans up to Rs 2.5 million for students in the budget of the current fiscal year. However, it would be hard to avail such loan unless there is an excellent project plan and trust, says Dahal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Approximately 791 people have availed the Youth Project Loan for Returnee Migrant Workers. BFIs have provided Rs 578.2 million to the returnee workers under this heading.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Similarly, banks have disbursed Dalit community business development loans worth Rs 522 million to 857 individuals. So far, 232 earthquake-affected people have received loans for the construction of private houses. In addition, 218 garment manufacturers have also availed concessional loans worth Rs 2.23 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Narayan Prasad Poudel, Joint Spokesperson of the Central Bank, 96,852 borrowers have availed concessional loans of Rs 150.96 billion in 11 months of last fiscal year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13452', 'image' => '20210721120621_20210605063901_Business Bank Loans.jpg', 'article_date' => '2021-07-21 12:05:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13706', 'article_category_id' => '1', 'title' => 'IFC Appoints Hector Gomez as Regional Director for South Asia', 'sub_title' => '', 'summary' => 'July 21: The International Finance Corporation (IFC) has appointed Hector Gomez Ang as its regional director for South Asia. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">July 21: The International Finance Corporation (IFC) has appointed Hector Gomez Ang as its regional director for South Asia. Based in New Delhi, he will play a critical role in boosting IFC’s investments in the region as it looks to recover from the severe impacts of Covid-19, IFC said in a statement on July 20.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Assuming his new role, Gomez Ang said the private sector had an essential role in South Asia’s recovery from Covid-19, easing the burden on constrained public finances and reducing rising levels of poverty, due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif""> “The pandemic has left a scar on countries throughout the region, exacting a huge human toll of which we must remain mindful. We must also accept that we may have to live with the lingering impacts of Covid-19 for some time to come, and so it’s all the more imperative to continue to work together to support jobs and economic growth,” the statement quoted Gomez Ang as saying.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“That also means we must do what’s needed to ensure private sector investments can flow to where it’s needed, and in industries, we know can support economic activity,” he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">According to IFC, its focus in South Asia will continue to centre on providing much-needed liquidity to private sector companies in the region so they can maintain operations, preserve and create jobs. IFC will also look to further support the region’s most vulnerable people by helping deliver more funding for hard-hit micro, small and medium-sized enterprises as well as promoting green growth through investments in sustainable infrastructures, such as renewable energy and digital connectivity, to foster a greener, more resilient, and inclusive recovery from Covid-19, the statement added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">"IFC will continue to prioritize climate investments in the region and help countries meet their nationally determined contributions under the Paris Accord," Gomez Ang added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Gomez Ang previously served as country manager for Angola, Mozambique, Zambia, and Botswana. A Mexican national, Gomez Ang joined IFC in Mexico City in 2006 as an investment officer, where he led business development in Mexico and Central America. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Gomez Ang succeeds Mengistu Alemayehu, who has assumed a new role as IFC’s Director of Global Equity Mobilization.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13451', 'image' => '20210721111801_1626770274.ifc.jpg', 'article_date' => '2021-07-21 11:16:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13705', 'article_category_id' => '1', 'title' => 'Government Preparing Skilled Manpower for Construction of Tunnels within the Country', 'sub_title' => '', 'summary' => ' July 20: The government has proposed building tunnels in different parts of the country but it lacks skilled manpower.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">July 20: The government has proposed building tunnels in different parts of the country but it lacks skilled manpower. To address this problem, the government had reached an agreement with the Japanese construction company to deploy Nepali engineers and technicians at the Nagdhunga-Naubise tunnel in order to develop skilled manpower.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">As the construction of the tunnel progresses, skilled manpower is also being generated within the country. Exposure to this project has given opportunity to the country’s manpower to acquire skills to build tunnels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Currently, 150 people, both Nepali and Japanese, are working on this project. Fifteen of them include employees of the construction company, Hajma Ando Corporation of Japal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Project Chief Nareshman Shakya said that the construction company has been using Nepali workers since the start of the digging work of the tunnel. According to him, 25 engineers, six geologists, 12 tunnel supervisors, 12 surveyors, and 35 operators have been deployed in the project from Nepal so far. They have gained experience in various aspects of the tunnel. Likewise, there are 45 other ordinary workers.</span><br /> <br /> <span style="font-family:"Arial","sans-serif"">Shakya said that the engineers and technicians deployed at the site are learning about tunnel construction with great interest. Likewise, they are also learning ways to dig a tunnel and also aspects of quality management. "In some cases, the site is controlled by Nepali engineers," said Shakya.<br /> <br /> He said that the operators have started learning how to operate the machines and how to tilt them. He said that Nepalis are digging the tunnels, operating machines on their own. There are also automatic machines and equipment inside the tunnel. Nepalis are now replacing Japanese workers in this project.<br /> <br /> As soon as the tunnel was built, it became clear how to use the equipment. He also said that Nepali engineers, operators, and in-charges are learning about tools used for constructing a tunnel on the highways, and methods of drilling.<br /> <br /> Engineers and technicians from the Department of Roads and construction companies have been deployed in constructing the tunnel. "Currently, technicians from the private sector are also working and learning. Later, when they are trained, they can teach others,” said Shakya.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13450', 'image' => '20210720023725_20210524031735_20210408031917_20190825123459_Clipboard01.jpg', 'article_date' => '2021-07-20 14:36:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13704', 'article_category_id' => '1', 'title' => 'Vehicle and Fuel Import Dominates Foreign Trade via Birgunj Customs', 'sub_title' => '', 'summary' => 'July 20: Import of vehicles and fuel dominated Nepal’s foreign trade through the Birgunj customs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: Import of vehicles and fuel dominated Nepal’s foreign trade through the Birgunj customs. The data of the customs department shows that vehicles and fuel imported through Birgunj customs were the major contributors to government revenue in the last fiscal year (FY 2020/21).</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"">“Vehicles and petroleum products are the main products entering through Birgunj customs. These items have been included as the major import in the last fiscal year as well,” said chief customs officer Harihar Poudel.</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"">Vehicles including jeeps, vans, motorcycles, trucks, mini-trucks as well as fuel in large quantity have entered the country from this checkpoint in the last fiscal year. A significant amount of industrial raw materials also enters through this checkpoint.</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"">Hari Gautam, coordinator of the Birgunj Chamber of Commerce and Industry, says that the industries of Bara-Parsa Industrial corridor import raw materials from this customs point. MS Billets, coal, steel strips, polythene, food grains and raw materials are the other major import items.</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"">Fans, optical fiber cables, car batteries, vehicle spareparts and allopathic medicines are also imported. Customs data shows that soybean oil, juice, cloth, shoes and other products are exported from Nepal.</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"">Birgunj customs has collected revenue of Rs 170 billion in the last fiscal year. Although the foreign trade was expected to decline due to Covid-19, the customs office almost met the target by the end of last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief customs officer Poudel informed that 99.6 percent of the revenue target was raised between July 2020 to July 2021. “The amount collected is Rs 710 million less than the target. Birgunj customs was given a target of raising Rs 170.76 billion for the last fiscal year,” he told New Business Age.</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"">Imports were expected to decline after a prohibitory order was imposed in various districts since May to control the pandemic. However, the revenue target has been met as the ban has not had much effect on foreign trade.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13449', 'image' => '20210720021513_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-07-20 14:14:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13703', 'article_category_id' => '1', 'title' => 'Flights to New Delhi Increased to 6 per Week under Air Bubble Agreement', 'sub_title' => '', 'summary' => 'July 20: Aviation authorities have decided to operate six flights per week between Kathmandu and New Delhi.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: Aviation authorities have decided to operate six flights per week between Kathmandu and New Delhi. The decision was taken as per the Air Bubble Agreement between Nepal and India.</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"">Earlier, just two flights a week were operated between the two destinations due to the risk of spreading Covid-19, but now six flights will be operated, informed government officials. The number of flights has increased upon the request of Nepal .The flight schedule will be prepared soon, said Karishma Shrestha, spokesperson of the Nepal Airlines Corporation.</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 her, the state-owned airline company’s aircraft will now fly from New Delhi to Kathmandu on Mondays, Wednesdays and Saturdays. Before this agreement, the NAC used to operate one flight on Wednesday and Air India used to operate one flight on Friday. Now, both the airlines would be operating the same number of flights i.e. three each.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The NAC is preparing a flight schedule in coordination with Air India keeping in mind the convenience of the passengers. The flight will be operated in such a way that the days of aircraft takeoff from both the countries would not clash with each other.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13448', 'image' => '20210720020402_20180727021334_2.jpg', 'article_date' => '2021-07-20 14:02:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13701', 'article_category_id' => '1', 'title' => 'Government Slashes Subsidy on Agriculture and Livestock Insurance ', 'sub_title' => '', 'summary' => 'July 20: The government has cut down the subsidy being provided for agriculture and livestock insurance.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: The government has cut down the subsidy being provided for agriculture and livestock insurance. The government has reduced the subsidy for agriculture and livestock insurance by 25 percent in the budget announced for the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had been providing 75 percent subsidy on such insurance premiums. Earlier, the farmers were required to pay only 25 percent of insurance premium. However, the government will be providing only 50 percent subsidy on insurance premiums effective from the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Insurance Board has already directed insurance companies to implement the government's decision on agricultural insurance scheme. The board has recently issued a circular instructing non-life insurance companies to conduct agriculture and livestock insurance business accordingly.</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"">Raju Raman Paudel, executive director of the Insurance Board, said that the decline in the subsidy for agriculture and livestock insurance is a positive thing. "Farmers should also practice paying insurance premiums since they are also self-employed people, '' 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"">Though the government has slashed insurance subsidies for agriculture and livestock, it has introduced a new provision to provide 50 percent subsidy in insurance premium for food storage. The government has also set a target of setting up 200 food storages at the local levels in the current fiscal year. Taking this into consideration, the government is providing 50 percent subsidy on the insurance premium for food storage.</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"">Poudel said this is a new concept. "Though the government has reduced the subsidy for agricultural insurance, it has provided a 50 percent subsidy on the insurance of food storage so it has embraced the policy to encourage the agriculture sector.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Insurance Board had come up with an insurance program for agriculture sector in FY 2012/13. Since then, the government has been providing subsidies for such insurance every year.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13447', 'image' => '20210720113305_1626743229.1.jpg', 'article_date' => '2021-07-20 11:31:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13702', 'article_category_id' => '1', 'title' => 'Test of Janakpur-Jaynagar Railway Track Succeeds ', 'sub_title' => '', 'summary' => 'July 20: The speed test for the 35 km long Janakpur-Jayanagar railway track has been completed successfully.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: The speed test for the 35 km long Janakpur-Jayanagar railway track has been completed successfully. The structure of the railway track and speed test was conducted on Sunday (July 18) in order to operate the train on the route in the Nepal-India border area. </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"">Nepal had purchased two trains from India last October. However, the schedules for train operation are still unknown.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Nepal Railway Company operated Indian train on Sunday in order to test the tracks for the operation of inter-country railway service. Guru Bhattarai, the general manager of the company said that the train from Jayanagar station in Bihar, India to Janakpur’s Kurtha station in Nepal arrived in 23 minutes, with the speed of around 60 km per hour. He added, the speed of the train was 115 km per hour while returning from Kurtha station in Janakpur.</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"">"Testing and certification is the responsibility of the Indian side," he said. "If the new train was to be used for testing, there would have been great chances of damage to the structure of the track. Therefore, the test was carried out by Indian train.” </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"">Bhattarai said that the company is ready to run the train regularly as soon as the test and certification work is successfully completed. He said that the train would run regularly only after the new government takes charge of the Ministry of Physical Infrastructure and Transport and also after the formal inauguration in coordination of both the countries.</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"">"We are preparing to operate the train on this route after discussing the fare, manpower and success of track tests," Bhattarai said. "However, regular operation cannot take place until the formal inauguration and transfer of buildings and other structures by India." </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"">Fares have also been fixed for operating the trains. The cost per passenger may reach upto Rs 75 while traveling on this route. General Manager Bhattarai said that the train fare has been fixed based on the fare of Indian Railways and public buses of Nepal. He said that the train fare should not be more expensive than the bus fare. He said that the amount has to be paid while traveling in normal seats and also for travelling by standing. </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 there are deluxe seats in the train as well and the fare has been fixed at Rs 300 per passenger for deluxe seats. There are 76 deluxe seats in the train. In addition, about 1,300 people can travel at a time on the train.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company has already imparted various training to 90 Nepalis with the help of Indian Railways officials a few weeks ago for the operation of the train, while 26 Indian officials are in the process of preparing for the main operation of the train.</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"">Two trains were brought to Janakpur's Inarwa on September 18 last year and kept in a parking lot. Although the date of operation of the train has been fixed time and time again, it is not certain when the train will actually start operating.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> The company believes that the railway operation will pick up speed as soon as the government appoints a minister at the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13446', 'image' => '20210720115530_20210120113335_1611012622.Clipboard09.jpg', 'article_date' => '2021-07-20 11:54:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13700', 'article_category_id' => '1', 'title' => ' Finance Minister to Back Private Sector for Self-reliant Economy ', 'sub_title' => '', 'summary' => 'July 19: Finance Minister Janardan Sharma has assured that the government would support the 'Make in Nepal-Swadeshi' campaign forwarded by the Confederation of Nepalese Industries (CNI) in order to build a self-reliant economy. ', 'content' => '<p><em>A delegation of CNI meeting Finance Minister Janardan Sharma in this photo released by CNI on July 18. Photo Courtesy: CNI</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: Finance Minister Janardan Sharma has assured that the government would support the 'Make in Nepal-Swadeshi' campaign forwarded by the Confederation of Nepalese Industries (CNI) in order to build a self-reliant economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister made such remark during a meeting with a delegation of CNI.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Finance Minister Sharma clarified that he would back the campaign as his priority was to build a self-reliant economy, CNI said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said the government and private sector should join hands to increase production and to reduce country's import.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">“I checked the data as soon as I became a minister. I found that our import is high and export is weak. We need to change this. The government can do this by joining hands with the private sector,” said Sharma. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif""> The government would move ahead by taking the private sector in confidence for economic development and to generate employment, added Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government needs support from the private sector to reduce the impact of the Covid-19 pandemic on the country’s economy. The finance minister added that he was ready to support the private sector to create conducive environment for industrial development.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that he was ready to take into consideration the constructive criticism and suggestions from the private sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, CNI President Satish Kumar Moore congratulated Minister Sharma on behalf of the CNI for his appointment to the post of Finance Minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that vaccine to all Nepalis and programmes for economic revival were the major need of the hour, the statement added.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13445', 'image' => '20210719033604_Untitled.jpg', 'article_date' => '2021-07-19 15:27:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13698', 'article_category_id' => '1', 'title' => 'Smart Telecom gets Six more Months to Clear its Arrears', 'sub_title' => 'The Company is Liable to Pay more than Rs 6 Billion to the Government', 'summary' => 'July 19: The government has extended the deadline for Smart Telecom to clear its arrears.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: The government has extended the deadline for Smart Telecom to clear its arrears. The private telecommunication company has been given six months to clear its arrears worth over Rs 6 billion as per the cabinet decision on July 14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earlier deadline for the company to clear its arrears was July 15, 2021, according to the state-owned national news agency (RSS). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Telecommunications Authority (NTA) has already received a letter in this regard, confirmed Santosh Paudel, spokesperson for NTA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">With the extension of the deadline, Paudel said that the company has to submit its progress report to the NTA every month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTA has to carry out the analysis of the financial status of Smart Telecom on the basis of the details submitted by the company within mid-November and submit it to the concerned ministry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, the company has not paid its dues in various topics to the government since four years. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13444', 'image' => '20210719030614_20171029024916_IMAG0112.jpg', 'article_date' => '2021-07-19 15:05:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13699', 'article_category_id' => '1', 'title' => ' PM Deuba gets Vote of Confidence from HoR ', 'sub_title' => '', 'summary' => 'July 19: Prime Minister Sher Bahadur Deuba has received vote of confidence from the House of Representatives (HoR). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: Prime Minister Sher Bahadur Deuba has received vote of confidence from the House of Representatives (HoR). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a voting held in the HoR meeting on Sunday (July 18), PM Deuba received vote of confidence from Nepali Congress (NC), CPN (Maoist Centre), Janata Samajwadi Party, Nepal and Rastriya Janamorcha. Likewise, some lawmakers of the CPN (UML) also voted in favour of Deuba. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker of the HoR, Agni Prasad Sapkota, announced that PM Deuba received 165 votes in the parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 249 votes cast, Deuba got 165 votes while 83 votes were cast against the motion. According to Speaker Sapkota, one lawmaker chose to stay neutral in the voting process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker Sapkota announced that PM Deuba got vote of confidence in accordance to Article 76 (6) of the Constitution of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The HoR meeting has been postponed until July 23. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13443', 'image' => '20210719031200_20210715115732_adsafd.jpg', 'article_date' => '2021-07-19 15:11:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13697', 'article_category_id' => '1', 'title' => '100 Containers of Peas Stuck at Birgunj Dry Port', 'sub_title' => '', 'summary' => 'July 19: More than 100 containers of peas imported from third countries are stuck in the dry port of Birgunj due to procedural hassles. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 19: More than 100 containers of peas imported from third countries are stuck in the dry port of Birgunj due to procedural hassles. The containers that were imported under the quota of the Department of Commerce, Supplies and Consumer Protection (DoCSM) have been stopped at the port.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The customs officials at the dry port say that the letter written by the department to the importer is not clear about the customs clearance of the imported product. The peas imported from countries including the United States and Canada are still stuck at the port.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The department had allocated quota for importing peas, betel nuts, dates and pepper for the last fiscal year 2077/78.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The DoCSM had informed the importers on May 7 that those who received the quota had to submit the shipment documents by mid-July. If not, the quota will be automatically cancelled.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The department had also shared the information with the Department of Customs. Information Officer at the Department of Cusoms, Chudamani Kattel said that the inspection could not be done as they were not sure about the shipment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to him, the documents of about 100 containers were submitted on Sunday for inspection. He said that even though the containers have arrived at the port, they were confused by the letter issued by the department.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">“As per the letter from the department, import is possible only if the shipment documents are submitted by mid-July. So the inspection cannot be done until the this issue is clarified,” Kattel told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Furthermore, Kattel said that he had received information that the betel nuts are also stopped at Biratnagar customs due to similar procedural dilemmas.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government had allocated a quota to import 80,000 metric tons of peas in the last fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Importer Om Prakash Mor estimates that half of the goods under the allocated quota have already been imported. The other half is yet to arrive. “As of July 15 alone, 427 containers have been shipped. There are still about 1,500 containers on the way,” he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13442', 'image' => '20210719014553_20200624020915_Birgunj Dry Port.jpg', 'article_date' => '2021-07-19 13:45:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 22: Prime Minister Sher Bahadur Deuba has promised 'relief package' to prop up the industries and enterprises that suffered worst due to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Inaugurating the 18th assembly of the Confederation of Nepalese Industries on Wednesday, PM Deuba shared that he was planning a special package on how the industries suffering much in the wake of COVID-19 and lockdown could be restored so that they could contribute to the national economy again. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"We have given priority to vaccinate all citizens against COVID-19 and utilize their knowledge and skills for the national economy and development," he said, adding that investment promotion was equally important. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba reiterated that although development is always a priority, saving people's lives gets utmost priority now. "It's challenging to face pandemic, so human safety is first priority," he underscored. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Finance Minister Janardan Sharma expressed his view that the pandemic reminded all of us to strengthen self-reliant economy. He appreciated the 'make in Nepal' campaign launched by the CNI. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">"The government is for taking the private sector into confidence to revive the national economy which has been dented much by the pandemic,” he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, founding chair of the Confederation, Binod Chaudhari, said the Confederation was acting as a think-tank. He claimed that the economic reform launched by the Nepali Congress-led government following the restoration of democracy in 1990 had tremendous contribution to the country's economic development, augmentation of private sector and investment opportunities. Now, in the changed context, second phase of such reform could be launched, he suggested the government. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-07-22', 'modified' => '2021-07-22', 'keywords' => '', 'description' => '', 'sortorder' => '13456', 'image' => '20210722052349_9D3A8542.JPG', 'article_date' => '2021-07-22 12:16:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13710', 'article_category_id' => '1', 'title' => 'Over 1000 Business Firms Fined for Violating Code of Conduct', 'sub_title' => '', 'summary' => 'July 22: The Department of Commerce, Supplies and Consumer Protection has taken action against over 1,000 firms and companies for violating the business code of conduct. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 22: The Department of Commerce, Supplies and Consumer Protection has taken action against over 1,000 firms and companies for violating the business code of conduct. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned national news agency (RSS), the department found 1,035 business firms and companies indulging in inappropriate trade activities during the fiscal year 2020-21. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department had conducted a monitoring of 2,947 during last year. Among them, the department suggested general improvements for 1,597 companies while 397 firms were demanded to furnish required documents and sought clarifications. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the department’s data, samples were collected from 37 firms for a laboratory test while the transactions of 38 firms were suspended. Cases have been filed against 19 people and three vehicles have been taken under control. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has collected revenue worth Rs 23.98 million in fines, informed Spokesperson of the Department Shibaraj Shedhai. Similarly, adulterated foodstuff worth Rs 37.38 million was destroyed during the period. </span></span></span></p> ', 'published' => true, 'created' => '2021-07-22', 'modified' => '2021-07-22', 'keywords' => '', 'description' => '', 'sortorder' => '13455', 'image' => '20210722115626_1626842255.jpg', 'article_date' => '2021-07-22 11:54:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13709', 'article_category_id' => '1', 'title' => 'Automobile Business Slumps Even After Relaxation of Lockdown', 'sub_title' => '', 'summary' => 'July 21: After a two-month-long prohibitory order, a meeting of the chief district officers of Kathmandu Valley decided to allow the automobile business to reopen.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 21: After a two-month-long prohibitory order, a meeting of the chief district officers of Kathmandu Valley decided to allow the automobile business to reopen. Entrepreneurs were expecting the market to revitalize after the prohibitory order was lifted. However, even after the market has reopened, the sales of vehicles are still almost null.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the businessmen, no customer walk in the showroom to inquiry about the vehicles. Anup Kumar Baral, the CEO of Narayani Auto Business Private Limited and the secretary of the Nepal Automobile Dealers Association (NADA), an umbrella organization of automobile dealers, said that the market has not been able to normalize even after the government lifted a ban on their business recently.</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"">"For some time now, a number of people coming for general inquiry for vehicles have started to show up," he said. "But the demand has declined." After the lifting of lockdown last year, the demand for vehicles went up and recorded the highest in January. Entrepreneurs could not import vehicles as per the demand as it was difficult to import due to the low production of vehicles in India. Therefore, businessmen had started booking vehicles in advance before the prohibitory order was imposed. However, this time the demand for vehicles has not increased even though the prohibition has been relaxed.</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"">Before the Covid-19 pandemic, the peak season for the sale of automobiles was between June to October every year. Kailash Babu Gelal, Managing Director of G Motors, said that the public’s attraction towards the automobile business has not been seen since the last one and a half years. Before the pandemic, there used to be the NADA auto show in October, because of which, the import of new variants of vehicles used to increase right after February.</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 market is still not able to gain the pace as it had last year. He informed that the people have started inquiring about low-priced vehicles.</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"">Demand for two-wheelers had doubled last year. On the contrary, there is no demand for two-wheelers at all this year, said Abhik Jyoti, director of Nepal General Marketing, Nepal's official dealer for Hero Motors. </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"">"Before the implementation of the prohibitory order, there was more demand in April than any other time," he said. "As the market has just opened up, we can't say whether the situation is good or bad right now, but there is no demand."</span></span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> There won’t be NADA Auto Show this year as well</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The NADA Auto Show, which is considered to be the biggest show of automobiles, will not be held this year either. The chairman of NADA, Krishna Prasad Dulal, said that there would be no auto show as the rate of coronavirus infection has not decreased and the government has not been able to provide adequate vaccination.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The infection has not declined. Experts are warning of a third wave," he said. "We are preparing not to hold auto shows by giving the health of consumers and businessmen a top priority."</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 will discuss about the auto show after the condition becomes normal and everyone gets vaccinated. The topic will most probably be discussed after Dashain-Tihar, added Dulal.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13454', 'image' => '20210721035520_1626824705.Clipboard07.jpg', 'article_date' => '2021-07-21 15:54:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13708', 'article_category_id' => '1', 'title' => 'Finance Minister Concerned about Weak Capital Expenditure', 'sub_title' => '', 'summary' => 'July 21: Newly-appointed Finance Minister Janardan Sharma has expressed concern regarding the tendency of not spending 100 percent of the allocated capital budget in the recent years.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 21: Newly-appointed Finance Minister Janardan Sharma has expressed concern regarding the tendency of not spending 100 percent of the allocated capital budget in the recent years.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">During a recent interaction on development and capital expenditure with the secretaries of the Ministry of Finance, he sought reasons for poor spending. He asked the secretaries of the ministries about the low capital expenditure and the expenses at the end of the fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">In response, the secretaries pointed out to the Covid-19 pandemic as the main reason for the flaw.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Similarly, they also pointed to that the lack of skilled manpower in various project, disbursement of funds to projects without adequate preparation, delay in contract signing process, uncertainty of funds in foreign-aided projects, difficulty in land acquisition, allocation of funds to small projects, delay in formulating procedures and criteria for project operation and lack of inter-ministerial coordination were the other reasons behind unachieved target of capital expenditure.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Finance Minister Sharma directed the secretaries to submit necessary suggestions to the Government of Nepal, the Council of Ministers and the Ministry of Finance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Sharma said that the work done in the traditional format and style cannot achieve the expected results. For this, Sharma stressed on the need for the staff to present a concrete action plan with innovative thoughts for improved performance.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Finance Secretary Shishir Kumar Dhungana, in the last fiscal year 2077/78, the expenditure of Ministry of Water Supply was 36.81 percent, the Ministry of Physical Infrastructure and Transport 75.3 percent, the Ministry of Urban Development 87 percent, the Ministry of Federal Affairs and General Administration 77.79 percent and the Ministry of Energy.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government has already submitted the budget ordinance of the current fiscal year 2078/79 to the parliament. The Ministry of Finance is preparing to amend the ordinance and endorse the budget. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13453', 'image' => '20210721015847_20190609013126_20190531021713_Budget.jpg', 'article_date' => '2021-07-21 13:58:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13707', 'article_category_id' => '1', 'title' => '43,000 Additional Women receive Concessional Loans', 'sub_title' => '', 'summary' => 'July 21: In recent times, most of the concessional loans have flowed to women entrepreneurs.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 21: In recent times, most of the concessional loans have flowed to women entrepreneurs. Altogether 43,831 individuals have received the women entrepreneurship loans from banks and financial institutions (BFIs) in the first 11 months of the Fiscal Year 2020/21.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The number of women taking loans under this heading has reached 50,513 as of mid-June. The debt arrear was Rs 44.66 billion under this heading during the review period. In the previous fiscal year, only 6,682 women had availed such loan. However, this number has been increasing every month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">There is a provision to take a concessional loan under the heading of Women Entrepreneurship at a subsidized interest rate of 6 percent. Individuals can apply for up to Rs 1.5 million per person. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Although loan under this heading should be provided without any collateral, BFIs are found seeking collateral from the service seekers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Chairman of the Nepal Bankers' Association Bhuvan Kumar Dahal says that the banks are willing to provide women entrepreneurship loans by keeping collateral as there is high risk of giving loans without collateral.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to the Nepal Rastra Bank, individuals taking concessional loans for CTEVT trainings is the lowest among those seeking concessional loans. Only two people have taken such loan worth Rs 370,000. Bankers say that such loans do not flow because of the low demand under the heading. Similarly, only three individuals have taken youth self-employment loan. This heading has arrears of Rs 1.5 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">So far, only 141 borrowers have availed the 'Educated Youth Self-Employment Loan' under the concessional loan programme of the government. Statistics show that they have a debt of Rs 62.6 million. In the first 11 months of the last fiscal year, 76 more individuals received Educated Youth Self-Employment Loan'.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Individuals complain that bankers are hesitant to offer loans to students against their certificate despite the government’s announcement to avail loans to students by keeping their certificates as collateral. Bankers say there is a risk in giving loans to students against their certificates. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government has announced loans up to Rs 2.5 million for students in the budget of the current fiscal year. However, it would be hard to avail such loan unless there is an excellent project plan and trust, says Dahal. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Approximately 791 people have availed the Youth Project Loan for Returnee Migrant Workers. BFIs have provided Rs 578.2 million to the returnee workers under this heading.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Similarly, banks have disbursed Dalit community business development loans worth Rs 522 million to 857 individuals. So far, 232 earthquake-affected people have received loans for the construction of private houses. In addition, 218 garment manufacturers have also availed concessional loans worth Rs 2.23 billion.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to Narayan Prasad Poudel, Joint Spokesperson of the Central Bank, 96,852 borrowers have availed concessional loans of Rs 150.96 billion in 11 months of last fiscal year. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13452', 'image' => '20210721120621_20210605063901_Business Bank Loans.jpg', 'article_date' => '2021-07-21 12:05:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13706', 'article_category_id' => '1', 'title' => 'IFC Appoints Hector Gomez as Regional Director for South Asia', 'sub_title' => '', 'summary' => 'July 21: The International Finance Corporation (IFC) has appointed Hector Gomez Ang as its regional director for South Asia. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">July 21: The International Finance Corporation (IFC) has appointed Hector Gomez Ang as its regional director for South Asia. Based in New Delhi, he will play a critical role in boosting IFC’s investments in the region as it looks to recover from the severe impacts of Covid-19, IFC said in a statement on July 20.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Assuming his new role, Gomez Ang said the private sector had an essential role in South Asia’s recovery from Covid-19, easing the burden on constrained public finances and reducing rising levels of poverty, due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif""> “The pandemic has left a scar on countries throughout the region, exacting a huge human toll of which we must remain mindful. We must also accept that we may have to live with the lingering impacts of Covid-19 for some time to come, and so it’s all the more imperative to continue to work together to support jobs and economic growth,” the statement quoted Gomez Ang as saying.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">“That also means we must do what’s needed to ensure private sector investments can flow to where it’s needed, and in industries, we know can support economic activity,” he added. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">According to IFC, its focus in South Asia will continue to centre on providing much-needed liquidity to private sector companies in the region so they can maintain operations, preserve and create jobs. IFC will also look to further support the region’s most vulnerable people by helping deliver more funding for hard-hit micro, small and medium-sized enterprises as well as promoting green growth through investments in sustainable infrastructures, such as renewable energy and digital connectivity, to foster a greener, more resilient, and inclusive recovery from Covid-19, the statement added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">"IFC will continue to prioritize climate investments in the region and help countries meet their nationally determined contributions under the Paris Accord," Gomez Ang added.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Gomez Ang previously served as country manager for Angola, Mozambique, Zambia, and Botswana. A Mexican national, Gomez Ang joined IFC in Mexico City in 2006 as an investment officer, where he led business development in Mexico and Central America. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-family:"Arial","sans-serif"">Gomez Ang succeeds Mengistu Alemayehu, who has assumed a new role as IFC’s Director of Global Equity Mobilization.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-21', 'modified' => '2021-07-21', 'keywords' => '', 'description' => '', 'sortorder' => '13451', 'image' => '20210721111801_1626770274.ifc.jpg', 'article_date' => '2021-07-21 11:16:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13705', 'article_category_id' => '1', 'title' => 'Government Preparing Skilled Manpower for Construction of Tunnels within the Country', 'sub_title' => '', 'summary' => ' July 20: The government has proposed building tunnels in different parts of the country but it lacks skilled manpower.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">July 20: The government has proposed building tunnels in different parts of the country but it lacks skilled manpower. To address this problem, the government had reached an agreement with the Japanese construction company to deploy Nepali engineers and technicians at the Nagdhunga-Naubise tunnel in order to develop skilled manpower.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">As the construction of the tunnel progresses, skilled manpower is also being generated within the country. Exposure to this project has given opportunity to the country’s manpower to acquire skills to build tunnels.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Currently, 150 people, both Nepali and Japanese, are working on this project. Fifteen of them include employees of the construction company, Hajma Ando Corporation of Japal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial","sans-serif"">Project Chief Nareshman Shakya said that the construction company has been using Nepali workers since the start of the digging work of the tunnel. According to him, 25 engineers, six geologists, 12 tunnel supervisors, 12 surveyors, and 35 operators have been deployed in the project from Nepal so far. They have gained experience in various aspects of the tunnel. Likewise, there are 45 other ordinary workers.</span><br /> <br /> <span style="font-family:"Arial","sans-serif"">Shakya said that the engineers and technicians deployed at the site are learning about tunnel construction with great interest. Likewise, they are also learning ways to dig a tunnel and also aspects of quality management. "In some cases, the site is controlled by Nepali engineers," said Shakya.<br /> <br /> He said that the operators have started learning how to operate the machines and how to tilt them. He said that Nepalis are digging the tunnels, operating machines on their own. There are also automatic machines and equipment inside the tunnel. Nepalis are now replacing Japanese workers in this project.<br /> <br /> As soon as the tunnel was built, it became clear how to use the equipment. He also said that Nepali engineers, operators, and in-charges are learning about tools used for constructing a tunnel on the highways, and methods of drilling.<br /> <br /> Engineers and technicians from the Department of Roads and construction companies have been deployed in constructing the tunnel. "Currently, technicians from the private sector are also working and learning. Later, when they are trained, they can teach others,” said Shakya.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13450', 'image' => '20210720023725_20210524031735_20210408031917_20190825123459_Clipboard01.jpg', 'article_date' => '2021-07-20 14:36:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13704', 'article_category_id' => '1', 'title' => 'Vehicle and Fuel Import Dominates Foreign Trade via Birgunj Customs', 'sub_title' => '', 'summary' => 'July 20: Import of vehicles and fuel dominated Nepal’s foreign trade through the Birgunj customs.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: Import of vehicles and fuel dominated Nepal’s foreign trade through the Birgunj customs. The data of the customs department shows that vehicles and fuel imported through Birgunj customs were the major contributors to government revenue in the last fiscal year (FY 2020/21).</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"">“Vehicles and petroleum products are the main products entering through Birgunj customs. These items have been included as the major import in the last fiscal year as well,” said chief customs officer Harihar Poudel.</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"">Vehicles including jeeps, vans, motorcycles, trucks, mini-trucks as well as fuel in large quantity have entered the country from this checkpoint in the last fiscal year. A significant amount of industrial raw materials also enters through this checkpoint.</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"">Hari Gautam, coordinator of the Birgunj Chamber of Commerce and Industry, says that the industries of Bara-Parsa Industrial corridor import raw materials from this customs point. MS Billets, coal, steel strips, polythene, food grains and raw materials are the other major import items.</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"">Fans, optical fiber cables, car batteries, vehicle spareparts and allopathic medicines are also imported. Customs data shows that soybean oil, juice, cloth, shoes and other products are exported from Nepal.</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"">Birgunj customs has collected revenue of Rs 170 billion in the last fiscal year. Although the foreign trade was expected to decline due to Covid-19, the customs office almost met the target by the end of last year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Chief customs officer Poudel informed that 99.6 percent of the revenue target was raised between July 2020 to July 2021. “The amount collected is Rs 710 million less than the target. Birgunj customs was given a target of raising Rs 170.76 billion for the last fiscal year,” he told New Business Age.</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"">Imports were expected to decline after a prohibitory order was imposed in various districts since May to control the pandemic. However, the revenue target has been met as the ban has not had much effect on foreign trade.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13449', 'image' => '20210720021513_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-07-20 14:14:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13703', 'article_category_id' => '1', 'title' => 'Flights to New Delhi Increased to 6 per Week under Air Bubble Agreement', 'sub_title' => '', 'summary' => 'July 20: Aviation authorities have decided to operate six flights per week between Kathmandu and New Delhi.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: Aviation authorities have decided to operate six flights per week between Kathmandu and New Delhi. The decision was taken as per the Air Bubble Agreement between Nepal and India.</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"">Earlier, just two flights a week were operated between the two destinations due to the risk of spreading Covid-19, but now six flights will be operated, informed government officials. The number of flights has increased upon the request of Nepal .The flight schedule will be prepared soon, said Karishma Shrestha, spokesperson of the Nepal Airlines Corporation.</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 her, the state-owned airline company’s aircraft will now fly from New Delhi to Kathmandu on Mondays, Wednesdays and Saturdays. Before this agreement, the NAC used to operate one flight on Wednesday and Air India used to operate one flight on Friday. Now, both the airlines would be operating the same number of flights i.e. three each.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The NAC is preparing a flight schedule in coordination with Air India keeping in mind the convenience of the passengers. The flight will be operated in such a way that the days of aircraft takeoff from both the countries would not clash with each other.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13448', 'image' => '20210720020402_20180727021334_2.jpg', 'article_date' => '2021-07-20 14:02:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13701', 'article_category_id' => '1', 'title' => 'Government Slashes Subsidy on Agriculture and Livestock Insurance ', 'sub_title' => '', 'summary' => 'July 20: The government has cut down the subsidy being provided for agriculture and livestock insurance.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: The government has cut down the subsidy being provided for agriculture and livestock insurance. The government has reduced the subsidy for agriculture and livestock insurance by 25 percent in the budget announced for the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had been providing 75 percent subsidy on such insurance premiums. Earlier, the farmers were required to pay only 25 percent of insurance premium. However, the government will be providing only 50 percent subsidy on insurance premiums effective from the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Insurance Board has already directed insurance companies to implement the government's decision on agricultural insurance scheme. The board has recently issued a circular instructing non-life insurance companies to conduct agriculture and livestock insurance business accordingly.</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"">Raju Raman Paudel, executive director of the Insurance Board, said that the decline in the subsidy for agriculture and livestock insurance is a positive thing. "Farmers should also practice paying insurance premiums since they are also self-employed people, '' 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"">Though the government has slashed insurance subsidies for agriculture and livestock, it has introduced a new provision to provide 50 percent subsidy in insurance premium for food storage. The government has also set a target of setting up 200 food storages at the local levels in the current fiscal year. Taking this into consideration, the government is providing 50 percent subsidy on the insurance premium for food storage.</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"">Poudel said this is a new concept. "Though the government has reduced the subsidy for agricultural insurance, it has provided a 50 percent subsidy on the insurance of food storage so it has embraced the policy to encourage the agriculture sector.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Insurance Board had come up with an insurance program for agriculture sector in FY 2012/13. Since then, the government has been providing subsidies for such insurance every year.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13447', 'image' => '20210720113305_1626743229.1.jpg', 'article_date' => '2021-07-20 11:31:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13702', 'article_category_id' => '1', 'title' => 'Test of Janakpur-Jaynagar Railway Track Succeeds ', 'sub_title' => '', 'summary' => 'July 20: The speed test for the 35 km long Janakpur-Jayanagar railway track has been completed successfully.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">July 20: The speed test for the 35 km long Janakpur-Jayanagar railway track has been completed successfully. The structure of the railway track and speed test was conducted on Sunday (July 18) in order to operate the train on the route in the Nepal-India border area. </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"">Nepal had purchased two trains from India last October. However, the schedules for train operation are still unknown.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Nepal Railway Company operated Indian train on Sunday in order to test the tracks for the operation of inter-country railway service. Guru Bhattarai, the general manager of the company said that the train from Jayanagar station in Bihar, India to Janakpur’s Kurtha station in Nepal arrived in 23 minutes, with the speed of around 60 km per hour. He added, the speed of the train was 115 km per hour while returning from Kurtha station in Janakpur.</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"">"Testing and certification is the responsibility of the Indian side," he said. "If the new train was to be used for testing, there would have been great chances of damage to the structure of the track. Therefore, the test was carried out by Indian train.” </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"">Bhattarai said that the company is ready to run the train regularly as soon as the test and certification work is successfully completed. He said that the train would run regularly only after the new government takes charge of the Ministry of Physical Infrastructure and Transport and also after the formal inauguration in coordination of both the countries.</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"">"We are preparing to operate the train on this route after discussing the fare, manpower and success of track tests," Bhattarai said. "However, regular operation cannot take place until the formal inauguration and transfer of buildings and other structures by India." </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"">Fares have also been fixed for operating the trains. The cost per passenger may reach upto Rs 75 while traveling on this route. General Manager Bhattarai said that the train fare has been fixed based on the fare of Indian Railways and public buses of Nepal. He said that the train fare should not be more expensive than the bus fare. He said that the amount has to be paid while traveling in normal seats and also for travelling by standing. </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 there are deluxe seats in the train as well and the fare has been fixed at Rs 300 per passenger for deluxe seats. There are 76 deluxe seats in the train. In addition, about 1,300 people can travel at a time on the train.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The company has already imparted various training to 90 Nepalis with the help of Indian Railways officials a few weeks ago for the operation of the train, while 26 Indian officials are in the process of preparing for the main operation of the train.</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"">Two trains were brought to Janakpur's Inarwa on September 18 last year and kept in a parking lot. Although the date of operation of the train has been fixed time and time again, it is not certain when the train will actually start operating.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> The company believes that the railway operation will pick up speed as soon as the government appoints a minister at the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-20', 'modified' => '2021-07-20', 'keywords' => '', 'description' => '', 'sortorder' => '13446', 'image' => '20210720115530_20210120113335_1611012622.Clipboard09.jpg', 'article_date' => '2021-07-20 11:54:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13700', 'article_category_id' => '1', 'title' => ' Finance Minister to Back Private Sector for Self-reliant Economy ', 'sub_title' => '', 'summary' => 'July 19: Finance Minister Janardan Sharma has assured that the government would support the 'Make in Nepal-Swadeshi' campaign forwarded by the Confederation of Nepalese Industries (CNI) in order to build a self-reliant economy. ', 'content' => '<p><em>A delegation of CNI meeting Finance Minister Janardan Sharma in this photo released by CNI on July 18. Photo Courtesy: CNI</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: Finance Minister Janardan Sharma has assured that the government would support the 'Make in Nepal-Swadeshi' campaign forwarded by the Confederation of Nepalese Industries (CNI) in order to build a self-reliant economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister made such remark during a meeting with a delegation of CNI.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">During the meeting, Finance Minister Sharma clarified that he would back the campaign as his priority was to build a self-reliant economy, CNI said in a statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">He said the government and private sector should join hands to increase production and to reduce country's import.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">“I checked the data as soon as I became a minister. I found that our import is high and export is weak. We need to change this. The government can do this by joining hands with the private sector,” said Sharma. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif""> The government would move ahead by taking the private sector in confidence for economic development and to generate employment, added Minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that the government needs support from the private sector to reduce the impact of the Covid-19 pandemic on the country’s economy. The finance minister added that he was ready to support the private sector to create conducive environment for industrial development.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">The minister further said that he was ready to take into consideration the constructive criticism and suggestions from the private sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, CNI President Satish Kumar Moore congratulated Minister Sharma on behalf of the CNI for his appointment to the post of Finance Minister. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that vaccine to all Nepalis and programmes for economic revival were the major need of the hour, the statement added.</span></span></span></p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"> </span></span></p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13445', 'image' => '20210719033604_Untitled.jpg', 'article_date' => '2021-07-19 15:27:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13698', 'article_category_id' => '1', 'title' => 'Smart Telecom gets Six more Months to Clear its Arrears', 'sub_title' => 'The Company is Liable to Pay more than Rs 6 Billion to the Government', 'summary' => 'July 19: The government has extended the deadline for Smart Telecom to clear its arrears.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: The government has extended the deadline for Smart Telecom to clear its arrears. The private telecommunication company has been given six months to clear its arrears worth over Rs 6 billion as per the cabinet decision on July 14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earlier deadline for the company to clear its arrears was July 15, 2021, according to the state-owned national news agency (RSS). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">Nepal Telecommunications Authority (NTA) has already received a letter in this regard, confirmed Santosh Paudel, spokesperson for NTA.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">With the extension of the deadline, Paudel said that the company has to submit its progress report to the NTA every month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTA has to carry out the analysis of the financial status of Smart Telecom on the basis of the details submitted by the company within mid-November and submit it to the concerned ministry. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, the company has not paid its dues in various topics to the government since four years. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13444', 'image' => '20210719030614_20171029024916_IMAG0112.jpg', 'article_date' => '2021-07-19 15:05:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13699', 'article_category_id' => '1', 'title' => ' PM Deuba gets Vote of Confidence from HoR ', 'sub_title' => '', 'summary' => 'July 19: Prime Minister Sher Bahadur Deuba has received vote of confidence from the House of Representatives (HoR). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 19: Prime Minister Sher Bahadur Deuba has received vote of confidence from the House of Representatives (HoR). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a voting held in the HoR meeting on Sunday (July 18), PM Deuba received vote of confidence from Nepali Congress (NC), CPN (Maoist Centre), Janata Samajwadi Party, Nepal and Rastriya Janamorcha. Likewise, some lawmakers of the CPN (UML) also voted in favour of Deuba. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker of the HoR, Agni Prasad Sapkota, announced that PM Deuba received 165 votes in the parliament. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 249 votes cast, Deuba got 165 votes while 83 votes were cast against the motion. According to Speaker Sapkota, one lawmaker chose to stay neutral in the voting process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaker Sapkota announced that PM Deuba got vote of confidence in accordance to Article 76 (6) of the Constitution of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The HoR meeting has been postponed until July 23. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13443', 'image' => '20210719031200_20210715115732_adsafd.jpg', 'article_date' => '2021-07-19 15:11:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13697', 'article_category_id' => '1', 'title' => '100 Containers of Peas Stuck at Birgunj Dry Port', 'sub_title' => '', 'summary' => 'July 19: More than 100 containers of peas imported from third countries are stuck in the dry port of Birgunj due to procedural hassles. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 19: More than 100 containers of peas imported from third countries are stuck in the dry port of Birgunj due to procedural hassles. The containers that were imported under the quota of the Department of Commerce, Supplies and Consumer Protection (DoCSM) have been stopped at the port.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The customs officials at the dry port say that the letter written by the department to the importer is not clear about the customs clearance of the imported product. The peas imported from countries including the United States and Canada are still stuck at the port.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The department had allocated quota for importing peas, betel nuts, dates and pepper for the last fiscal year 2077/78.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The DoCSM had informed the importers on May 7 that those who received the quota had to submit the shipment documents by mid-July. If not, the quota will be automatically cancelled.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The department had also shared the information with the Department of Customs. Information Officer at the Department of Cusoms, Chudamani Kattel said that the inspection could not be done as they were not sure about the shipment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">According to him, the documents of about 100 containers were submitted on Sunday for inspection. He said that even though the containers have arrived at the port, they were confused by the letter issued by the department.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">“As per the letter from the department, import is possible only if the shipment documents are submitted by mid-July. So the inspection cannot be done until the this issue is clarified,” Kattel told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Furthermore, Kattel said that he had received information that the betel nuts are also stopped at Biratnagar customs due to similar procedural dilemmas.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">The government had allocated a quota to import 80,000 metric tons of peas in the last fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Importer Om Prakash Mor estimates that half of the goods under the allocated quota have already been imported. The other half is yet to arrive. “As of July 15 alone, 427 containers have been shipped. There are still about 1,500 containers on the way,” he said.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-19', 'modified' => '2021-07-19', 'keywords' => '', 'description' => '', 'sortorder' => '13442', 'image' => '20210719014553_20200624020915_Birgunj Dry Port.jpg', 'article_date' => '2021-07-19 13:45:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
