July 15: Efforts to restructure the state-owned Nepal Airlines Corporation (NAC) since the past two decades are now…
July 15: Efforts to restructure the state-owned Nepal Airlines Corporation (NAC) since the past two decades are now…
July 15: The Department of Transport Management has decided to increase the fare of public vehicles operating in long-distance route by 28…
July 15: Newly-appointed Prime Minister Sher Bahadur Deuba has taken decisions with special attention to coronavirus in the first meeting of the Council of Ministers to convey the message that his government has kept coronavirus pandemic in top-priority…
July 15: The production of Lower Modi '1' Hydropower Project, which was halted since July 6 due to the damage caused by flood, has resumed after a week on…
Though the government has relaxed prohibitory orders imposed to contain the spread of coronavirus, dairy industries say that the consumption of milk and dairy products is yet to pick up.…
The Supreme Court has also raised a question on the budget presented by KP Sharma Oli-led government for the upcoming fiscal year 2021/22 through an…
Ministry of Finance has approved a file authorizing the Ministry of Health and Population (MoHP) to spend Rs 5 billion for Covid-18 related spending.…
July 13: The government has decided to expedite the construction of flyovers in the Kathmandu valley with the objective of minimizing traffic…
July 13: Nepal Rastra Bank (NRB) is making necessary preparations to draft the monetary policy for the fiscal year…
July 13: The government has resumed vaccination drive against coronavirus from today (July 13) after receiving vaccines provided by China and the…
July 13: The government has fixed the minimum wage of workers employed in tea farms. This provision will come into effect from the upcoming fiscal…
July 13: Chinese Ambassador to Nepal, Hou Yanqi, has asserted that Nepal is an important partner for China to jointly build the Belt and Road Initiative…
July 12: The Supreme Court has once again issued a verdict to reinstate the House of Representatives which was dissolved by President Bidya Devi Bhandari upon the recommendation of Prime Minister KP Sharma Oli on May…
July 12: Himalayan Reinsurance Company has received final approval from the Insurance Board to operate its business. The Insurance Board gave the final approval to the company last Thursday for operating its…
July 12: Following the government’s announcement in the budget to issue 22 percent shares of Nepal Telecom to the customers using landline, mobile and internet services, it has initiated preparations to implement the…
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Six task forces were formed in the past for reforming the corporation. Based on the suggestions and reports of those task forces, homework has been done to convert the corporation into a public company.</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"">Similarly, plans are afoot to bring in foreign airlines as strategic partners for NAC under the new company model and to raise additional investment.</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"">Since 2058 BS, various task forces have been formed to reform the corporation. As per the announcement made by the government in the budget of the upcoming fiscal year, there is more pressure to transform the NAC into a company now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Dim Prasad Poudel, general manager of the corporation, informed that a share structure plan is proposed so that the government of Nepal owns 51 percent shares in the proposed company. </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 also said that a plan has been made to give 30 percent shares to foreign investment partners, Similarly, 14 percent shares will be opened for the general public and tourism entrepreneurs, and 5 percent shares to the employees affiliated with the 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"">The last time the Nepal Airlines Corporation Reform Suggestion Task Force Report was prepared was on September 20, 2008, under the coordination of former Tourism Secretary Sushil Ghimire. Poudel was a member of the task force. "Based on the study, the government has decided to transform the corporation into a company,” Poudel said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Amid controversy over the privatization of the corporation over the past two weeks and the workers' protest, Poudel made NAC’s official position public only on Tuesday.</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 preparations have been made to transform the corporation like that of Nepal Telecom but the issue of privatization is confusing. "The pride of the nation, the national flag-carrier, cannot survive the current economic and managerial turmoil," he said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13425', 'image' => '20210715014455_20190429011929_aaa (2).jpg', 'article_date' => '2021-07-15 13:42:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13678', 'article_category_id' => '1', 'title' => 'DoTM Increases Public Vehicle Fare for Long-distance Route by 28 percent', 'sub_title' => '', 'summary' => 'July 15: The Department of Transport Management has decided to increase the fare of public vehicles operating in long-distance route by 28 percent.', '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 15: The Department of Transport Management has decided to increase the fare of public vehicles operating in long-distance route by 28 percent. Releasing a public notice on Wednesday, the department has informed that the transportation fare has been adjusted as per the decision taken on July 13.</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 department has informed that the fare of public vehicles running in two or more than two provinces has been increased. Spokesperson of the department Dr Loknath Bhusal said that they have decided to increase the fare of freight vehicles along with the public transportation. According to him, the department has decided to increase the fare of passenger vehicles up to 28 percent, while freight vehicles operating in routes of Terai and hill districts have been increased by 26 and 20 percent respectively.</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 have adjusted the fares based on the investment and expenditure of public transport, market analysis, consultation with the concerned bodies, the wages of the transport workers, tires, lubricants, parts, fuel, etc,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The transport entrepreneurs have been pressurizing the government since a long time demanding an increase in public transport fare. A study committee on fare adjustment was formed on April 20 under the coordination of the director of the department Ram Chandra Poudel. Concluding that the fare should be increased, the committee had sent a report to the Ministry of Physical Infrastructure and Transport on May 4. The ministry had approved the decision to adjust the fare on July 13 after the government was sure to collapse.</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"">Although the new fare will apply to vehicles plying in two or more provinces, the decision will not apply to short-distance 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"">“Currently, we have adjusted the fares of inter-province vehicles. The decision to adjust the fares of short-distance transport can be made at the local level,” said 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"">The Federation of Nepalese National Transport Entrepreneurs has welcomed the decision of fare adjustment but said that it was not as per their demand. The president of the federation Yogendra Nath Karmacharya said, “It is a good decision to adjust the fare as there has been no adjustment for the last nine years. However, as it is not scientific fare, we expect it to be adjusted by studying in the coming days.” He informed that a circular has been issued to the entrepreneurs on Wednesday to implement the new fare from Thursday.</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"">Although the transport entrepreneurs say that there has been no fare adjustment since 2069 BS, the last time the fare of public transport was increased by 10 percent was in 2075 BS.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13424', 'image' => '20210715011716_20200721030826_1595264681.yatayat.jpg', 'article_date' => '2021-07-15 13:16:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13677', 'article_category_id' => '1', 'title' => 'Deuba Government to Focus on Pandemic', 'sub_title' => '', 'summary' => 'July 15: Newly-appointed Prime Minister Sher Bahadur Deuba has taken decisions with special attention to coronavirus in the first meeting of the Council of Ministers to convey the message that his government has kept coronavirus pandemic in top-priority list.', '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 15: Newly-appointed Prime Minister Sher Bahadur Deuba has taken decisions with special attention to coronavirus in the first meeting of the Council of Ministers to convey the message that his government has kept coronavirus pandemic in top-priority list.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first cabinet meeting, Deuba decided to provide vaccines to all the citizens. The decision of the Council of Ministers aims to vaccinate one-third of citizens by mid-October. The meeting has also decided to vaccinate all those eligible for vaccination under certain criteria by mid-April.</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 meeting also decided to make public the expenditure of the previous government for the prevention, control, and treatment of the Covid-19 pandemic and to start providing risk allowance to the health workers, security personnel, and cleaners who will be deployed on the frontline during the pandemic.</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 cabinet meeting has also determined various priorities of the government. The government has also given high priority to the issue of maintaining law and order.</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 prevention, control, and treatment of COVID-19, economic prosperity, and the rapid recovery of the economy affected by COVID-19 are also of high importance to the government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government has also decided to appoint a special advisor for effective control, prevention, and treatment of the coronavirus. Government Spokesperson and Minister for Law, Justice, and Parliamentary Affairs Gyanendra Bahadur Karki informed that the meeting has decided to make public the budget spent so far for the prevention, control, and treatment of COVID-19. Karki said that the government will introduce a special package within a week to revive the economy.</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"">Similarly, the newly-appointed Finance Minister Janardan Sharma on Wednesday took the first decision to give Rs 5 billion to the Ministry of Health to purchase vaccine against Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma decided to implement the first decision made by the cabinet to ensure vaccination to all citizens. The vaccination campaign in Nepal has been affected due to an insufficient supply of vaccines.</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 has decided to disburse Rs. 961.21 million to federal and private hospitals to purchase HDUs, ventilators, ICUs, and coronavirus control health equipment. </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"">After taking charge of office, Minister Sharma said that prevention and control of corona and free vaccination to all citizens was the priority of the government and directed the staff to work to this effect. Finance Minister Sharma said that the government should move ahead in collaboration with the private sector as there was a need to revive the economy crippled by the pandemic.</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"">Newly-appointed Home Minister Bal Krishna Khand approved Rs 2 million to the District Disaster Management Fund to provide relief to the flood and landslide victims.</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"">Khand said that a decision would be taken after discussing with the experts regarding the implementation of the budget for the fiscal year 2078/79 BS.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13423', 'image' => '20210715115732_adsafd.jpg', 'article_date' => '2021-07-15 11:56:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13679', 'article_category_id' => '1', 'title' => 'Lower Modi 1 Resumes Production of Electricity after a Week', 'sub_title' => '', 'summary' => 'July 15: The production of Lower Modi '1' Hydropower Project, which was halted since July 6 due to the damage caused by flood, has resumed after a week on Sunday.', '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 15: The production of Lower Modi '1' Hydropower Project, which was halted since July 6 due to the damage caused by flood, has resumed after a week on Sunday.</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 flood in Sundarekhola in Dobilla of Kushma Municipality-8 of the district had damaged about 300 meters of canal. The floods in Modikhola had also damaged the source of the hydropower project on the same day. Managing Director of United Modi Hydropower Limited, Upendra Gautam, informed that the production started on Sunday evening after completing the maintenance work.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to him, the 300-meter-long canal, which is four meters wide and four meters high, was completely buried by the sediments of floods in Sundarekhola. The project staff along with 50 other people repaired it.</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"">Gautam informed that 9.5 MW of electricity has been generated since Sunday evening. The project is estimated to have borne a loss of Rs 45 million to Rs 50 million due to the floods. He said that the details of the damage to the source could not be determined as the flow of Modikhola was still high. There was no damage to the production house of the project.</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 site engineer of Lama Construction, a construction company of Mid-Hill highway, Rajaram Acharya and drive Indra Tharu were also swept away by the flood on the same day in Sundarekhola. Although the vehicle has been found, the whereabout of Acharya and Tharu is yet to be known. The flood-damaged Mid-Hill highway has been operating through a single lane.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13422', 'image' => '20210715013100_ffff.jpg', 'article_date' => '2021-07-15 13:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13676', 'article_category_id' => '1', 'title' => 'Milk Consumption Only 65% Even After Relaxation of Prohibitory Orders', 'sub_title' => '', 'summary' => 'Though the government has relaxed prohibitory orders imposed to contain the spread of coronavirus, dairy industries say that the consumption of milk and dairy products is yet to pick up. ', 'content' => '<p>July 14: Though the government has relaxed prohibitory orders imposed to contain the spread of coronavirus, dairy industries say that the consumption of milk and dairy products is yet to pick up.</p> <p>According to estimates provided by Dairy Industries Association, consumption of milk and dairy product is only 65 percent of the pre-prohibitory period. <br /> According to the Dairy Industries Association, DDC, Dairy Industries Association and Nepal Dairy Association used to supply 300,000 liters of milk in Kathmandu Valley on a daily basis during the prohibitory period. The supply has increased to 350,000 liters a day after the recent relaxation of the prohibitory orders compared to 700,000 liters per day compared to 7000,000 liters per day before the prohibitory orders were imposed by local administrations in Kathmandu Valley on April 29.<br /> Leaders of dairy industries’ associations blame closure of hotels, restaurants and party palaces for the lower consumption of milk and dairy products in the market. <br /> Though some restaurants and hotels provide takeaway services after the relaxation of prohibitory orders, many are still closed or yet to operate to provide catering or table services. <br /> While the demand for milk used to be 300,000 liters per day in hotels, restaurants and schools alone, the consumption in these sectors have now fallen to zero, said Raj Kumar Dahal, president of the Dairy Industries Association.</p> <p>The market for milk and dairy products is one of the most affected markets by the pandemic. As the pandemic has disrupted the market, dairies and dairy industries across the country have stockpiled powdered milk and butter worth Rs 3 billion. As demands have plummeted, dairy industries are converting their surplus milk into powdered milk and butter.</p> <p>The industrialists and businessmen opted to make milk powder and butter to prevent wastage of the milk due to the fall in the demand. <br /> Fears about the possible third wave of coronavirus have further affected the market and worried us, said Prahlad Dahal, Nepal Dairy Association’s President. <br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13421', 'image' => '20210714055638_Dairy.jpg', 'article_date' => '2021-07-14 17:53:07', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 5 => array( 'Article' => array( 'id' => '13675', 'article_category_id' => '1', 'title' => 'Supreme Court Questions Validity of Budget Introduced Through Ordinance', 'sub_title' => '', 'summary' => 'The Supreme Court has also raised a question on the budget presented by KP Sharma Oli-led government for the upcoming fiscal year 2021/22 through an ordinance.', 'content' => '<p>July 14: <br /> The Supreme Court has also raised a question on the budget presented by KP Sharma Oli-led government for the upcoming fiscal year 2021/22 through an ordinance.<br /> In its ‘landmark’ verdict issued on Monday, the Constitutional Bench of the Supreme Court not only reinstated the House of Representatives, but also said that it was not appropriate to present the estimate of expenditure and revenue through ordinance after the dissolution of the House.</p> <p>The verdict issued by the SC reads that the caretaker government is allowed only to make provisions for mandatory government expenses rather than announcing plans and programs that have long-term implications.</p> <p>Presenting the budget through ordinance without being endorsed through the parliament, the government has promoted a practice that goes against the parliamentary norms, according to the verdict. </p> <p>"If such non-parliamentary practices are continued, they undermine various provisions in the constitution and promote arbitrary behaviour. The dissolution of the House of Representatives only a week before the date meant for the unveiling of the budget program is perceived as a betrayal against the implementation of constitutional provision set by Article 119 (3) of the Constitution of Nepal," reads SC ruling.<br /> Bhimarjun Acharya, a constitutional expert says that the government can bring the budget again through the parliament as the SC has questioned the validity of the budget brought through ordinance. He said that it was wrong on the part of the government to dissolve the parliament abruptly and bring the budget through an ordinance. According to him, the new government can bring the budget from the parliament as the new fiscal year has not started yet.<br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13420', 'image' => '20210714030842_Budget.jpg', 'article_date' => '2021-07-14 15:04:45', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13674', 'article_category_id' => '1', 'title' => 'Finance Minister Sharma’s First Decision Authorizes Health Ministry to Spend Rs 5 Billion', 'sub_title' => '', 'summary' => ' Ministry of Finance has approved a file authorizing the Ministry of Health and Population (MoHP) to spend Rs 5 billion for Covid-18 related spending. ', 'content' => '<p>July 14: Ministry of Finance has approved a file authorizing the Ministry of Health and Population (MoHP) to spend Rs 5 billion for Covid-18 related spending. This is the first decision of the newly appointed Minister for Finance Janardan Sharma. <br /> According to the MoF, Finance Minister Sharma approved the file to authorise the MoHP to spend Rs 5 billion on purchase of vaccines against Covid-19, setting up oxygen plant and procurement of HDU, ICU and ventilator. <br /> Finance Minister Sharma also approved another file for the spending on risk allowance for health workers mobilized to fight against Covid-19.<br /> Earlier on Tuesday, Prime Minister Sher Bahadur Deuba had appointed Minister Sharma, a leader of the CPN (Maoist Center), as the new finance minister along with three other new ministers. <br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13419', 'image' => '20210714021209_Janardan Sharma.jpg', 'article_date' => '2021-07-14 14:08:54', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 7 => array( 'Article' => array( 'id' => '13673', 'article_category_id' => '1', 'title' => 'DoR to build Four-lane Flyover at Gwarko ', 'sub_title' => '', 'summary' => 'July 13: The government has decided to expedite the construction of flyovers in the Kathmandu valley with the objective of minimizing traffic congestion.', '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 13: The government has decided to expedite the construction of flyovers in the Kathmandu valley with the objective of minimizing traffic congestion.</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 Department of Roads on Monday issued a tender for the construction of a four-lane flyover at Gwarko.</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"">Only the domestic construction companies of Nepal will be eligible to participate in the bidding process for the constructing the flyover. The company will have to hand over the flyover to the department within the next two years.</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 contract was issued by the Quality Research and Development Center under the department on Monday. </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"">Dr. Bijay Jaishi, director of the center, said that instead of a complex structure like in developed countries, a simple 35 meter bridge will be made and Nepali companies are capable of making such a bridge. So, the tender was issued allowing only Nepali companies to participate. </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 flyover to be constructed in the form of Engineering Procurement Construction (EPC) model should be completed by the company within the given deadline. </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"">“It is a small contract. Nepali construction companies also have good capacity to build bridges,” said Jaishi, “As it is a simple flyover, we are trying to encourage Nepalis.” </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 Kalanki-Koteshwor section of the ring road has been upgraded to eight lanes with the help of the Chinese government. Jaishi said that a four-lane flyover will be constructed in Gwarko under the same road section. Out of the 455-meter long flyover, a 35 meter bridge will be built over the road and vehicles from Mangalbazar (Patan) to Imadol will operate under the bridge. </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 department has already secured source of fund worth Rs 340 million from the Ministry of Finance to build the flyover. Jaishi said that this flyover will be built with the same amount. </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"">Apart from Gwarko, the department also has plans to build flyovers in Sitapaila and Ekantakuna. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13418', 'image' => '20210713090012_road-bridge.jpg', 'article_date' => '2021-07-13 20:58:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13672', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank preparing draft of Monetary Policy', 'sub_title' => '', 'summary' => 'July 13: Nepal Rastra Bank (NRB) is making necessary preparations to draft the monetary policy for the fiscal year 2021/22.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 13: Nepal Rastra Bank (NRB) is making necessary preparations to draft the monetary policy for the fiscal year 2021/22. The monetary policy will be unveiled in the third week of July. NRB is currently going through the suggestions provided by dozens of organizations and individuals.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Narayan Pokharel, Joint Spokesperson of the central bank, informed that the Financial Research Department of NRB has started the preliminary work after studying the suggestions received so far. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">"The government and private organizations have provided written suggestions while other important suggestions can still be incorporated. We have already started preparations to make the draft of the policy," he said.</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"">Prakash Shrestha, Director of the Department, said the department is preparing the preliminary draft of the policy. The monetary policy will be focused on special loans and interest rates for the revival of the economy that has been battered by Covid-19 pandemic.</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 department prepares a draft based on the suggestions provided by various stakeholders. Then, the draft is discussed with various departments after which, a high level committee of the central bank will discuss the draft of the policy. The committee forwards the draft to the bank's board of directors. The board prepares a final version of the policy which is introduced by the governor of the bank. </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 Shrestha, most of the organizations have sought for the plans to restructure the business after being affected by the second wave of the Covid-19 pandemic. The monetary policy of the fiscal Year 2020/21 had also introduced provisions to boost economic activities. </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"">"All of the enterprises and businesses have been affected by the second wave of the pandemic so findings from various surveys and researches will be taken into consideration while preparing the monetary policy," informed Shrestha.</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"">Recently, the central bank published a survey on the impacts of Covid-19 on the economy. Surveys carried out in different months had provided comparative insights of industries and business during the pandemic. </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"">Since the outbreak of the pandemic, various efforts have been made by NRB to minimize its impacts on the economy. In order to keep the banking and financial services running smoothly and minimize impacts of Covid-19, the central bank conducted various detailed studies. Considering the impacts on tourism, industry, trade, business and financial sectors, various policies have also been implemented for the convenience of all stakeholders.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13417', 'image' => '20210713025441_1626132831.Clipboard03.jpg', 'article_date' => '2021-07-13 14:52:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13671', 'article_category_id' => '1', 'title' => 'Vaccination Resumes from Today', 'sub_title' => '', 'summary' => 'July 13: The government has resumed vaccination drive against coronavirus from today (July 13) after receiving vaccines provided by China and the USA.', '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 13: The government has resumed vaccination drive against coronavirus from today (July 13) after receiving vaccines provided by China and the USA. Under this campaign, vaccination will be given on priority basis. The Ministry of Health and Population is going to start vaccinating people prioritizing the age group of 50 to 60 years, including driver and helpers of public vehicles, university professors, teachers and foreign refugees.</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 deputy spokesperson of the Ministry of Health and Population Dr. Samir Kumar Adhikari, the Chinese Vero Cell vaccine will be given to the people of age group of 55 to 60 years. Also, the same vaccine will be given to the people falling under the age group of 60 to 64 years, university professors, teachers, staff, public transport drivers and helpers.</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"">Adhikari also informed that even if the vaccine is given on priority basis, health workers, security personnel and journalists working in the health sector can get vaccinated at the designated vaccination centers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ministry has decided to administer the Johnson & Johnson vaccine, received from the United States, on Monday to people with complete and severe disabilities, foreign refugees residing in Nepal, and health workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Health and Population has notified that the vaccines are being administered from the previously designated centers. In addition, citizens have been asked to produce documents issued by the government that would disclose their age in order to receive the 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 government purchased 4 million doses of vaccine from China. In the first phase, 800,000 doses of Vero Cell were brought to the country on Friday. Similarly, 1534,850 doses of Johnson & Johnson vaccines arrived in Nepal on Monday under the Covax facility.</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"">Stating that the vaccines purchased from China will arrive in Nepal every week, the Dr Adhikari said that the process is underway to purchase more vaccines. "We are looking for alternatives to the India-made Covishield vaccine," he said, "In addition, initiatives are being taken with other countries to purchase more vaccines."</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"">Till date, 26,11,000 people have been given the first dose of vaccination, whereas 10,41,000 people have already received the second dose of vaccination as well.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13416', 'image' => '20210713023934_1626133196.Clipboard05.jpg', 'article_date' => '2021-07-13 14:38:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13670', 'article_category_id' => '1', 'title' => 'Government Hikes Wages of Tea Estate Farmers Marginally', 'sub_title' => '', 'summary' => 'July 13: The government has fixed the minimum wage of workers employed in tea farms. This provision will come into effect from the upcoming fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 13: The government has fixed the minimum wage of workers employed in tea farms. This provision will come into effect from the upcoming fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Labour, Employment and Social Security has issued a notice on the Nepal Gazette stating that the minimum wage of workers has been increased by Rs 520 per month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice issued on Monday (July 12) has instructed stakeholders to implement the new provision from July 16 onwards.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice states that the basic salary of the workers of tea farm has been fixed at Rs 7,769 per month. Starting from July 16, the workers of tea farms will get a minimum monthly salary of Rs 12,081. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The daily wage of workers is Rs 435 while the hourly rate is Rs 57 per hour. The daily allowance of workers have been fixed at Rs 55.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prior to this, the workers in tea estates were receiving a monthly salary of Rs 11,561 since the beginning of the current fiscal year. The government has increased their salary only marginally. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13415', 'image' => '20210713115547_1626100840.Tea workers.jpg', 'article_date' => '2021-07-13 11:54:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13669', 'article_category_id' => '1', 'title' => 'Nepal is Key Partner of China to jointly Build BRI: Chinese Ambassador ', 'sub_title' => '', 'summary' => 'July 13: Chinese Ambassador to Nepal, Hou Yanqi, has asserted that Nepal is an important partner for China to jointly build the Belt and Road Initiative (BRI).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 13: Chinese Ambassador to Nepal, Hou Yanqi, has reportedly asserted that Nepal is an important partner for China to jointly build the Belt and Road Initiative (BRI). The Chinese envoy added that China-Nepal bilateral cooperation in various fields have made positive progress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ambassador Hou made such statement during an online press conference organized by the Chinese Embassy in Nepal on Monday (July 12), according to the state-owned national news agency (RSS). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"China-aided Kathmandu Durbar High School Reconstruction Project has been completed and handed over to the Nepali side. The pre-feasibility study of the Tokha-Chhahare Tunnel Project has been finished. The construction of Pokhara International Airport and Gautam Buddha International Airport is progressing well. The construction of the third phase of China Aid Araniko Highway Long-term Opening Maintenance Project has been started. Trans-Himalayan multi-dimensional connectivity network is gradually taking shape," RSS quoted Ambassador Hou as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the outbreak of the COVID-19 pandemic, Ambassador Hou said, China has actively carried out international cooperation in the fight against the pandemic, and is committed to ensuring accessibility and affordability of vaccines in developing countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Till date, China has provided over 450 million doses of vaccines to nearly 100 countries including Nepal. The first batch of the vaccines procured by Nepal from China has arrived. I wish those vaccines will play an important role in building an immune firewall for the Nepali people," she shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She added that when China encounters difficulties, developing countries including Nepal also provide support to China within their capabilities, actively speak for China on international and multilateral platforms, resolutely oppose some countries’ smear against China on issues such as human rights and origin-tracing of COVID-19 virus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Just as President Xi Jinping reiterated, China will always be a member of the developing world. No matter how the international situation changes, we will always be a reliable friend and sincere partner of developing countries." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She reiterated that China will remain committed to promoting peace, development, cooperation, and mutual benefit, with an independent foreign policy that promotes peace, and to the path of peaceful development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Chinese Ambassador, the Communist Party of China stands ready to continue to work with political parties and political organizations of all countries including Nepal, RSS added.</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"">She further said that China</span><strong><span style="font-family:"Arial Unicode MS","sans-serif""> aims</span></strong><span style="font-family:"Arial Unicode MS","sans-serif""> to make even greater contributions to the building of a community with a shared future for mankind, high-quality development of BRI and a better world.</span></span></span></p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13414', 'image' => '20210713104552_20200101120650_aaa.jpg', 'article_date' => '2021-07-13 10:44:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13667', 'article_category_id' => '1', 'title' => 'Supreme Court Reinstates HoR, Orders President to appoint Deuba as new PM by Tomorrow', 'sub_title' => '', 'summary' => 'July 12: The Supreme Court has once again issued a verdict to reinstate the House of Representatives which was dissolved by President Bidya Devi Bhandari upon the recommendation of Prime Minister KP Sharma Oli on May 22.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">July 12</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">: </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The Supreme Court has once again issued a verdict to reinstate the House of Representatives which was dissolved by President Bidya Devi Bhandari upon the recommendation of Prime Minister KP Sharma Oli on May 22.</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:"Georgia","serif"">In its landmark verdict issued today (July 12), the five-member constitutional bench headed by Chief Justice Cholendra Shumsher JB Rana quashed the decision of President Bhandari to dissolve the lower House and fix the mid-term elections for November.</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:"Georgia","serif"">The constitutional bench’s verdict has not only reinstated the House, but also paved the way for Nepali Congress President Sher Bahadur Deuba to become the upcoming Prime Minister.</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:"Georgia","serif"">In line with the petitioners’ demand, the Constitutional Bench issued a mandamus order to President Bhandari to appoint Nepali Congress President Deuba as the Prime Minister by 5 PM tomorrow (July 13). </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:"Georgia","serif"">With the court’s landmark verdict, Deuba will now succeed Oli as the country’s new Prime Minister.</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:"Georgia","serif"">Stating that incumbent Prime Minister Oli did not complete the process of Article 76 (4) that requires the Prime Minister to win a confidence vote in the House, the Constitutional Bench ruled that President Bhandari’s decision to dismiss Deuba’s claim on the post of Prime Minister was not constitutional.</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:"Georgia","serif"">After President Bhandari rejected both claims of Prime Minister Oli and Nepali Congress President Deuba of having support of majority of lawmakers to form the government as per Article 76 (5), Prime Minister Oli on May 22 had recommended her to dissolve the House and announce mid-term elections for November.</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"">Alt</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">hough President Bhandari dissolved the House and set mid-term elections for November, the move was immediately challenged at the Supreme Court by 146 lawmakers from the main opposition Nepali Congress and other political parties as well as ruling CPN (UML)’s disgruntled faction led by former Prime Minister Madhav Kumar 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:"Georgia","serif"">The Constitutional Bench of the Supreme Court also ordered President Bhandari to summon the House session within seven days of its verdict. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13413', 'image' => '20210712032647_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-07-12 15:25:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13668', 'article_category_id' => '1', 'title' => 'Himalayan Re-insurance Company gets License for Operation ', 'sub_title' => '', 'summary' => 'July 12: Himalayan Reinsurance Company has received final approval from the Insurance Board to operate its business. The Insurance Board gave the final approval to the company last Thursday for operating its business.', 'content' => '<p>July 12: <span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalayan Reinsurance Company has received final approval from the Insurance Board to operate its business. The Insurance Board gave the final approval to the company last Thursday for operating its business.</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:"Georgia","serif"">The board had given in-principle approval for the establishment of the Himalayan Re-insurance Company on May 30. It received the final approval for operation after the private company completed the required process. Chairman of the Insurance Board Surya Prasad Silwal confirmed that the final approval has been given for the operation of the Himalayan Reinsurance Company.</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:"Georgia","serif"">After getting the in-principle approval from the board, the company was registered with the Company Registrar's Office. An investment of Rs 7 billion was also made. Besides, the board has given final approval to the company to conduct business after completing the necessary process including setting up the company's office in Baluwatar and appointing Shekhar Golchha as the chairman of the company.</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:"Georgia","serif"">With the final approval from the Insurance Board, the company is preparing to start its business. Chairman of the company Shekhar Golchha said that the company will be operational within the current fiscal year, i.e. by mid-July. “Necessary preparations have been completed to start a reinsurance business. We will bring the company into operation within the month of July,” said Chairman Golchha.</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:"Georgia","serif"">The company has also written to the Insurance Board on Sunday stating that it will start its business. The Insurance Board is preparing to inspect the company's head office in Baluwatar today (Monday). During the inspection, the company must meet certain policy requirements. A senior official of the board said that the company could come into operation after that.</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:"Georgia","serif"">During the inspection, the company must have fulfilled the required conditions regarding the size of the office, computer software, and staff.</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:"Georgia","serif"">The company is preparing to bring in three high-level manpower, including the chief executive officer, from abroad (India). Employees brought from abroad have to get a work permit from the labor department. The company has already submitted an application to the board for necessary facilitation and approval for the appointment.</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:"Georgia","serif"">Reinsurance is an international business. Himalayan Re-insurance Company has to go to foreign markets to expand its business. That is why the company is saying that it is bringing high-ranking employees from abroad in line with the objective of expanding its business in foreign markets.</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:"Georgia","serif"">Currently, the government-owned Nepal Reinsurance Company is operating in Nepal. A study conducted by the board had earlier found that another reinsurance company was needed in the country. After that, the board started the process of establishing a new reinsurance company in April last year. Five companies had filed application to start the reinsurance business. Out of them, the board decided to give in-principle approval to Himalayan Re-insurance Company.</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:"Georgia","serif"">The other companies that applied were Kathmandu Re-insurance Company, Annapurna Re-insurance Company, Prudential Re-insurance Company, and Genuine Re-insurance Company. </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:"Georgia","serif"">The paid-up capital of Himalayan Re-insurance Company is Rs 10 billion. The institutional investment of the company is Rs 7 billion. The remaining Rs 3 billion will be raised through IPOs, the company said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The main share investor of the company is Jagdamba (Shankar) Group. The board informed that there is an investment of Lucky Group, Dugad Group, and other business houses in the company.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13412', 'image' => '20210712040017_20200630093335_Reinsurance.jpg', 'article_date' => '2021-07-12 15:59:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13666', 'article_category_id' => '1', 'title' => 'Nepal Telecom to Issue its Shares to Customers', 'sub_title' => '', 'summary' => 'July 12: Following the government’s announcement in the budget to issue 22 percent shares of Nepal Telecom to the customers using landline, mobile and internet services, it has initiated preparations to implement the announcement. ', 'content' => '<p>July 12: <span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Following the government’s announcement in the budget to issue 22 percent shares of Nepal Telecom to the customers using landline, mobile and internet services, it has initiated preparations to implement the announcement. </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:"Georgia","serif"">The budget provision allows customers using Nepal Telecom's landline, mobile and internet services till the mid of January 2021, to participate in the purchase share. The Ministry of Finance has started necessary preparations to finanalize the value of the company's share and its distribution process by mid-October. </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:"Georgia","serif"">According to the officials of the Ministry of Finance, Ministry of Communication and Information Technology (MoCIT), Nepal Telecom (NT), they have initiated paperwork to implement the program as announced in the budget. Dirgharaj Mainali, joint secretary of the Ministry of Finance (MoF), informed that it has started necessary homework to implement the programme with new vision though such programs have not been introduced in the past. The company has been formed with the service fee paid by the service seekers so a new model will be finalized to hand over the ownership of the company to customers themselves. </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:"Georgia","serif"">"This issue has already been researched so the government is preparing an action plan to implement this programme. The action plan is being formulated in coordination with the NT, MoCIT, MoF. MoF will be leading this project," said Mainali.</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:"Georgia","serif"">Some provisions need to be added in the Privatization Act to issue shares of NT to the customers. Preparations have been made to add the provisions through a Cabinet decision. There is a privatization committee chaired by the minister, which also includes the secretaries of the concerned ministries. MoF is preparing to take the proposal to the Cabinet after completing the required process as per the Privatization Act.</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:"Georgia","serif"">The Privatization Act does not envision this kind of concept as announced in the budget program. It does not envisage the idea of </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""></span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">issuing shares to the customers themselves.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Georgia","serif""> Finance ministry officials say there is a need to move forward on the basis of share disinvestment provisions. Discussions have already started between the privatization committee and the Securities Board of Nepal on the model through which the shares will be distributed. </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:"Georgia","serif"">According to MoF sources, the government made this announcement in the budget aiming to increase the number of telecom customers. The government currently owns 92 percent shares of Nepal Telecom and the public hold the ownership of the remaining eight percent of shares. When the public will be issued with additional shares, government's ownership will be reduced to 70 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">MoCIT is also working with the concerned departments for this. Sobhakant Poudel, joint secretary of MoCIT said that the NT board has the full authority to decide on the share ownership of the company. "The budget has already stated about the public shares offering so it will be implemented in time," Poudel 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:"Georgia","serif"">Discussions have been ongoing since the tenure of former MoCIT Minister Gokul Baskota about issuing shares or bringing in a strategic partner. Banskota was against the idea of bringing in a strategic partner. He was of the view to issue shares to the public and expand its customer base.</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:"Georgia","serif"">Nepal Telecom has also made necessary preparations to make the program announced in the budget a success. Dilli Ram Adhikari, managing director of Nepal Telecom, said that the decision would be taken by the board of NT after receiving the draft of the plan from the MoF. Since the budget announcement to issue shares to the public, the company has expedited the task of updating the KYC of the existing customers.</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:"Georgia","serif"">He said that the process will start after the work procedure of appointing share manager will be finalized. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13411', 'image' => '20210712025647_20200721022343_1595282477.Clipboard05.jpg', 'article_date' => '2021-07-12 14:55:08', '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' => '13680', 'article_category_id' => '1', 'title' => 'Government Plans to Restructure NAC with its 51 Percent Stake ', 'sub_title' => '', 'summary' => 'July 15: Efforts to restructure the state-owned Nepal Airlines Corporation (NAC) since the past two decades are now materializing.', '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 15: Efforts to restructure the state-owned Nepal Airlines Corporation (NAC) since the past two decades are now materializing. Six task forces were formed in the past for reforming the corporation. Based on the suggestions and reports of those task forces, homework has been done to convert the corporation into a public company.</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"">Similarly, plans are afoot to bring in foreign airlines as strategic partners for NAC under the new company model and to raise additional investment.</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"">Since 2058 BS, various task forces have been formed to reform the corporation. As per the announcement made by the government in the budget of the upcoming fiscal year, there is more pressure to transform the NAC into a company now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Dim Prasad Poudel, general manager of the corporation, informed that a share structure plan is proposed so that the government of Nepal owns 51 percent shares in the proposed company. </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 also said that a plan has been made to give 30 percent shares to foreign investment partners, Similarly, 14 percent shares will be opened for the general public and tourism entrepreneurs, and 5 percent shares to the employees affiliated with the 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"">The last time the Nepal Airlines Corporation Reform Suggestion Task Force Report was prepared was on September 20, 2008, under the coordination of former Tourism Secretary Sushil Ghimire. Poudel was a member of the task force. "Based on the study, the government has decided to transform the corporation into a company,” Poudel said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Amid controversy over the privatization of the corporation over the past two weeks and the workers' protest, Poudel made NAC’s official position public only on Tuesday.</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 preparations have been made to transform the corporation like that of Nepal Telecom but the issue of privatization is confusing. "The pride of the nation, the national flag-carrier, cannot survive the current economic and managerial turmoil," he said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13425', 'image' => '20210715014455_20190429011929_aaa (2).jpg', 'article_date' => '2021-07-15 13:42:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13678', 'article_category_id' => '1', 'title' => 'DoTM Increases Public Vehicle Fare for Long-distance Route by 28 percent', 'sub_title' => '', 'summary' => 'July 15: The Department of Transport Management has decided to increase the fare of public vehicles operating in long-distance route by 28 percent.', '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 15: The Department of Transport Management has decided to increase the fare of public vehicles operating in long-distance route by 28 percent. Releasing a public notice on Wednesday, the department has informed that the transportation fare has been adjusted as per the decision taken on July 13.</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 department has informed that the fare of public vehicles running in two or more than two provinces has been increased. Spokesperson of the department Dr Loknath Bhusal said that they have decided to increase the fare of freight vehicles along with the public transportation. According to him, the department has decided to increase the fare of passenger vehicles up to 28 percent, while freight vehicles operating in routes of Terai and hill districts have been increased by 26 and 20 percent respectively.</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 have adjusted the fares based on the investment and expenditure of public transport, market analysis, consultation with the concerned bodies, the wages of the transport workers, tires, lubricants, parts, fuel, etc,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The transport entrepreneurs have been pressurizing the government since a long time demanding an increase in public transport fare. A study committee on fare adjustment was formed on April 20 under the coordination of the director of the department Ram Chandra Poudel. Concluding that the fare should be increased, the committee had sent a report to the Ministry of Physical Infrastructure and Transport on May 4. The ministry had approved the decision to adjust the fare on July 13 after the government was sure to collapse.</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"">Although the new fare will apply to vehicles plying in two or more provinces, the decision will not apply to short-distance 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"">“Currently, we have adjusted the fares of inter-province vehicles. The decision to adjust the fares of short-distance transport can be made at the local level,” said 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"">The Federation of Nepalese National Transport Entrepreneurs has welcomed the decision of fare adjustment but said that it was not as per their demand. The president of the federation Yogendra Nath Karmacharya said, “It is a good decision to adjust the fare as there has been no adjustment for the last nine years. However, as it is not scientific fare, we expect it to be adjusted by studying in the coming days.” He informed that a circular has been issued to the entrepreneurs on Wednesday to implement the new fare from Thursday.</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"">Although the transport entrepreneurs say that there has been no fare adjustment since 2069 BS, the last time the fare of public transport was increased by 10 percent was in 2075 BS.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13424', 'image' => '20210715011716_20200721030826_1595264681.yatayat.jpg', 'article_date' => '2021-07-15 13:16:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13677', 'article_category_id' => '1', 'title' => 'Deuba Government to Focus on Pandemic', 'sub_title' => '', 'summary' => 'July 15: Newly-appointed Prime Minister Sher Bahadur Deuba has taken decisions with special attention to coronavirus in the first meeting of the Council of Ministers to convey the message that his government has kept coronavirus pandemic in top-priority list.', '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 15: Newly-appointed Prime Minister Sher Bahadur Deuba has taken decisions with special attention to coronavirus in the first meeting of the Council of Ministers to convey the message that his government has kept coronavirus pandemic in top-priority list.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first cabinet meeting, Deuba decided to provide vaccines to all the citizens. The decision of the Council of Ministers aims to vaccinate one-third of citizens by mid-October. The meeting has also decided to vaccinate all those eligible for vaccination under certain criteria by mid-April.</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 meeting also decided to make public the expenditure of the previous government for the prevention, control, and treatment of the Covid-19 pandemic and to start providing risk allowance to the health workers, security personnel, and cleaners who will be deployed on the frontline during the pandemic.</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 cabinet meeting has also determined various priorities of the government. The government has also given high priority to the issue of maintaining law and order.</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 prevention, control, and treatment of COVID-19, economic prosperity, and the rapid recovery of the economy affected by COVID-19 are also of high importance to the government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government has also decided to appoint a special advisor for effective control, prevention, and treatment of the coronavirus. Government Spokesperson and Minister for Law, Justice, and Parliamentary Affairs Gyanendra Bahadur Karki informed that the meeting has decided to make public the budget spent so far for the prevention, control, and treatment of COVID-19. Karki said that the government will introduce a special package within a week to revive the economy.</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"">Similarly, the newly-appointed Finance Minister Janardan Sharma on Wednesday took the first decision to give Rs 5 billion to the Ministry of Health to purchase vaccine against Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma decided to implement the first decision made by the cabinet to ensure vaccination to all citizens. The vaccination campaign in Nepal has been affected due to an insufficient supply of vaccines.</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 has decided to disburse Rs. 961.21 million to federal and private hospitals to purchase HDUs, ventilators, ICUs, and coronavirus control health equipment. </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"">After taking charge of office, Minister Sharma said that prevention and control of corona and free vaccination to all citizens was the priority of the government and directed the staff to work to this effect. Finance Minister Sharma said that the government should move ahead in collaboration with the private sector as there was a need to revive the economy crippled by the pandemic.</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"">Newly-appointed Home Minister Bal Krishna Khand approved Rs 2 million to the District Disaster Management Fund to provide relief to the flood and landslide victims.</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"">Khand said that a decision would be taken after discussing with the experts regarding the implementation of the budget for the fiscal year 2078/79 BS.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13423', 'image' => '20210715115732_adsafd.jpg', 'article_date' => '2021-07-15 11:56:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13679', 'article_category_id' => '1', 'title' => 'Lower Modi 1 Resumes Production of Electricity after a Week', 'sub_title' => '', 'summary' => 'July 15: The production of Lower Modi '1' Hydropower Project, which was halted since July 6 due to the damage caused by flood, has resumed after a week on Sunday.', '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 15: The production of Lower Modi '1' Hydropower Project, which was halted since July 6 due to the damage caused by flood, has resumed after a week on Sunday.</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 flood in Sundarekhola in Dobilla of Kushma Municipality-8 of the district had damaged about 300 meters of canal. The floods in Modikhola had also damaged the source of the hydropower project on the same day. Managing Director of United Modi Hydropower Limited, Upendra Gautam, informed that the production started on Sunday evening after completing the maintenance work.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to him, the 300-meter-long canal, which is four meters wide and four meters high, was completely buried by the sediments of floods in Sundarekhola. The project staff along with 50 other people repaired it.</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"">Gautam informed that 9.5 MW of electricity has been generated since Sunday evening. The project is estimated to have borne a loss of Rs 45 million to Rs 50 million due to the floods. He said that the details of the damage to the source could not be determined as the flow of Modikhola was still high. There was no damage to the production house of the project.</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 site engineer of Lama Construction, a construction company of Mid-Hill highway, Rajaram Acharya and drive Indra Tharu were also swept away by the flood on the same day in Sundarekhola. Although the vehicle has been found, the whereabout of Acharya and Tharu is yet to be known. The flood-damaged Mid-Hill highway has been operating through a single lane.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13422', 'image' => '20210715013100_ffff.jpg', 'article_date' => '2021-07-15 13:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13676', 'article_category_id' => '1', 'title' => 'Milk Consumption Only 65% Even After Relaxation of Prohibitory Orders', 'sub_title' => '', 'summary' => 'Though the government has relaxed prohibitory orders imposed to contain the spread of coronavirus, dairy industries say that the consumption of milk and dairy products is yet to pick up. ', 'content' => '<p>July 14: Though the government has relaxed prohibitory orders imposed to contain the spread of coronavirus, dairy industries say that the consumption of milk and dairy products is yet to pick up.</p> <p>According to estimates provided by Dairy Industries Association, consumption of milk and dairy product is only 65 percent of the pre-prohibitory period. <br /> According to the Dairy Industries Association, DDC, Dairy Industries Association and Nepal Dairy Association used to supply 300,000 liters of milk in Kathmandu Valley on a daily basis during the prohibitory period. The supply has increased to 350,000 liters a day after the recent relaxation of the prohibitory orders compared to 700,000 liters per day compared to 7000,000 liters per day before the prohibitory orders were imposed by local administrations in Kathmandu Valley on April 29.<br /> Leaders of dairy industries’ associations blame closure of hotels, restaurants and party palaces for the lower consumption of milk and dairy products in the market. <br /> Though some restaurants and hotels provide takeaway services after the relaxation of prohibitory orders, many are still closed or yet to operate to provide catering or table services. <br /> While the demand for milk used to be 300,000 liters per day in hotels, restaurants and schools alone, the consumption in these sectors have now fallen to zero, said Raj Kumar Dahal, president of the Dairy Industries Association.</p> <p>The market for milk and dairy products is one of the most affected markets by the pandemic. As the pandemic has disrupted the market, dairies and dairy industries across the country have stockpiled powdered milk and butter worth Rs 3 billion. As demands have plummeted, dairy industries are converting their surplus milk into powdered milk and butter.</p> <p>The industrialists and businessmen opted to make milk powder and butter to prevent wastage of the milk due to the fall in the demand. <br /> Fears about the possible third wave of coronavirus have further affected the market and worried us, said Prahlad Dahal, Nepal Dairy Association’s President. <br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13421', 'image' => '20210714055638_Dairy.jpg', 'article_date' => '2021-07-14 17:53:07', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 5 => array( 'Article' => array( 'id' => '13675', 'article_category_id' => '1', 'title' => 'Supreme Court Questions Validity of Budget Introduced Through Ordinance', 'sub_title' => '', 'summary' => 'The Supreme Court has also raised a question on the budget presented by KP Sharma Oli-led government for the upcoming fiscal year 2021/22 through an ordinance.', 'content' => '<p>July 14: <br /> The Supreme Court has also raised a question on the budget presented by KP Sharma Oli-led government for the upcoming fiscal year 2021/22 through an ordinance.<br /> In its ‘landmark’ verdict issued on Monday, the Constitutional Bench of the Supreme Court not only reinstated the House of Representatives, but also said that it was not appropriate to present the estimate of expenditure and revenue through ordinance after the dissolution of the House.</p> <p>The verdict issued by the SC reads that the caretaker government is allowed only to make provisions for mandatory government expenses rather than announcing plans and programs that have long-term implications.</p> <p>Presenting the budget through ordinance without being endorsed through the parliament, the government has promoted a practice that goes against the parliamentary norms, according to the verdict. </p> <p>"If such non-parliamentary practices are continued, they undermine various provisions in the constitution and promote arbitrary behaviour. The dissolution of the House of Representatives only a week before the date meant for the unveiling of the budget program is perceived as a betrayal against the implementation of constitutional provision set by Article 119 (3) of the Constitution of Nepal," reads SC ruling.<br /> Bhimarjun Acharya, a constitutional expert says that the government can bring the budget again through the parliament as the SC has questioned the validity of the budget brought through ordinance. He said that it was wrong on the part of the government to dissolve the parliament abruptly and bring the budget through an ordinance. According to him, the new government can bring the budget from the parliament as the new fiscal year has not started yet.<br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13420', 'image' => '20210714030842_Budget.jpg', 'article_date' => '2021-07-14 15:04:45', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13674', 'article_category_id' => '1', 'title' => 'Finance Minister Sharma’s First Decision Authorizes Health Ministry to Spend Rs 5 Billion', 'sub_title' => '', 'summary' => ' Ministry of Finance has approved a file authorizing the Ministry of Health and Population (MoHP) to spend Rs 5 billion for Covid-18 related spending. ', 'content' => '<p>July 14: Ministry of Finance has approved a file authorizing the Ministry of Health and Population (MoHP) to spend Rs 5 billion for Covid-18 related spending. This is the first decision of the newly appointed Minister for Finance Janardan Sharma. <br /> According to the MoF, Finance Minister Sharma approved the file to authorise the MoHP to spend Rs 5 billion on purchase of vaccines against Covid-19, setting up oxygen plant and procurement of HDU, ICU and ventilator. <br /> Finance Minister Sharma also approved another file for the spending on risk allowance for health workers mobilized to fight against Covid-19.<br /> Earlier on Tuesday, Prime Minister Sher Bahadur Deuba had appointed Minister Sharma, a leader of the CPN (Maoist Center), as the new finance minister along with three other new ministers. <br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13419', 'image' => '20210714021209_Janardan Sharma.jpg', 'article_date' => '2021-07-14 14:08:54', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 7 => array( 'Article' => array( 'id' => '13673', 'article_category_id' => '1', 'title' => 'DoR to build Four-lane Flyover at Gwarko ', 'sub_title' => '', 'summary' => 'July 13: The government has decided to expedite the construction of flyovers in the Kathmandu valley with the objective of minimizing traffic congestion.', '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 13: The government has decided to expedite the construction of flyovers in the Kathmandu valley with the objective of minimizing traffic congestion.</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 Department of Roads on Monday issued a tender for the construction of a four-lane flyover at Gwarko.</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"">Only the domestic construction companies of Nepal will be eligible to participate in the bidding process for the constructing the flyover. The company will have to hand over the flyover to the department within the next two years.</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 contract was issued by the Quality Research and Development Center under the department on Monday. </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"">Dr. Bijay Jaishi, director of the center, said that instead of a complex structure like in developed countries, a simple 35 meter bridge will be made and Nepali companies are capable of making such a bridge. So, the tender was issued allowing only Nepali companies to participate. </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 flyover to be constructed in the form of Engineering Procurement Construction (EPC) model should be completed by the company within the given deadline. </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"">“It is a small contract. Nepali construction companies also have good capacity to build bridges,” said Jaishi, “As it is a simple flyover, we are trying to encourage Nepalis.” </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 Kalanki-Koteshwor section of the ring road has been upgraded to eight lanes with the help of the Chinese government. Jaishi said that a four-lane flyover will be constructed in Gwarko under the same road section. Out of the 455-meter long flyover, a 35 meter bridge will be built over the road and vehicles from Mangalbazar (Patan) to Imadol will operate under the bridge. </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 department has already secured source of fund worth Rs 340 million from the Ministry of Finance to build the flyover. Jaishi said that this flyover will be built with the same amount. </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"">Apart from Gwarko, the department also has plans to build flyovers in Sitapaila and Ekantakuna. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13418', 'image' => '20210713090012_road-bridge.jpg', 'article_date' => '2021-07-13 20:58:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13672', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank preparing draft of Monetary Policy', 'sub_title' => '', 'summary' => 'July 13: Nepal Rastra Bank (NRB) is making necessary preparations to draft the monetary policy for the fiscal year 2021/22.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 13: Nepal Rastra Bank (NRB) is making necessary preparations to draft the monetary policy for the fiscal year 2021/22. The monetary policy will be unveiled in the third week of July. NRB is currently going through the suggestions provided by dozens of organizations and individuals.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Narayan Pokharel, Joint Spokesperson of the central bank, informed that the Financial Research Department of NRB has started the preliminary work after studying the suggestions received so far. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">"The government and private organizations have provided written suggestions while other important suggestions can still be incorporated. We have already started preparations to make the draft of the policy," he said.</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"">Prakash Shrestha, Director of the Department, said the department is preparing the preliminary draft of the policy. The monetary policy will be focused on special loans and interest rates for the revival of the economy that has been battered by Covid-19 pandemic.</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 department prepares a draft based on the suggestions provided by various stakeholders. Then, the draft is discussed with various departments after which, a high level committee of the central bank will discuss the draft of the policy. The committee forwards the draft to the bank's board of directors. The board prepares a final version of the policy which is introduced by the governor of the bank. </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 Shrestha, most of the organizations have sought for the plans to restructure the business after being affected by the second wave of the Covid-19 pandemic. The monetary policy of the fiscal Year 2020/21 had also introduced provisions to boost economic activities. </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"">"All of the enterprises and businesses have been affected by the second wave of the pandemic so findings from various surveys and researches will be taken into consideration while preparing the monetary policy," informed Shrestha.</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"">Recently, the central bank published a survey on the impacts of Covid-19 on the economy. Surveys carried out in different months had provided comparative insights of industries and business during the pandemic. </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"">Since the outbreak of the pandemic, various efforts have been made by NRB to minimize its impacts on the economy. In order to keep the banking and financial services running smoothly and minimize impacts of Covid-19, the central bank conducted various detailed studies. Considering the impacts on tourism, industry, trade, business and financial sectors, various policies have also been implemented for the convenience of all stakeholders.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13417', 'image' => '20210713025441_1626132831.Clipboard03.jpg', 'article_date' => '2021-07-13 14:52:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13671', 'article_category_id' => '1', 'title' => 'Vaccination Resumes from Today', 'sub_title' => '', 'summary' => 'July 13: The government has resumed vaccination drive against coronavirus from today (July 13) after receiving vaccines provided by China and the USA.', '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 13: The government has resumed vaccination drive against coronavirus from today (July 13) after receiving vaccines provided by China and the USA. Under this campaign, vaccination will be given on priority basis. The Ministry of Health and Population is going to start vaccinating people prioritizing the age group of 50 to 60 years, including driver and helpers of public vehicles, university professors, teachers and foreign refugees.</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 deputy spokesperson of the Ministry of Health and Population Dr. Samir Kumar Adhikari, the Chinese Vero Cell vaccine will be given to the people of age group of 55 to 60 years. Also, the same vaccine will be given to the people falling under the age group of 60 to 64 years, university professors, teachers, staff, public transport drivers and helpers.</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"">Adhikari also informed that even if the vaccine is given on priority basis, health workers, security personnel and journalists working in the health sector can get vaccinated at the designated vaccination centers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ministry has decided to administer the Johnson & Johnson vaccine, received from the United States, on Monday to people with complete and severe disabilities, foreign refugees residing in Nepal, and health workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Health and Population has notified that the vaccines are being administered from the previously designated centers. In addition, citizens have been asked to produce documents issued by the government that would disclose their age in order to receive the 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 government purchased 4 million doses of vaccine from China. In the first phase, 800,000 doses of Vero Cell were brought to the country on Friday. Similarly, 1534,850 doses of Johnson & Johnson vaccines arrived in Nepal on Monday under the Covax facility.</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"">Stating that the vaccines purchased from China will arrive in Nepal every week, the Dr Adhikari said that the process is underway to purchase more vaccines. "We are looking for alternatives to the India-made Covishield vaccine," he said, "In addition, initiatives are being taken with other countries to purchase more vaccines."</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"">Till date, 26,11,000 people have been given the first dose of vaccination, whereas 10,41,000 people have already received the second dose of vaccination as well.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13416', 'image' => '20210713023934_1626133196.Clipboard05.jpg', 'article_date' => '2021-07-13 14:38:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13670', 'article_category_id' => '1', 'title' => 'Government Hikes Wages of Tea Estate Farmers Marginally', 'sub_title' => '', 'summary' => 'July 13: The government has fixed the minimum wage of workers employed in tea farms. This provision will come into effect from the upcoming fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 13: The government has fixed the minimum wage of workers employed in tea farms. This provision will come into effect from the upcoming fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Labour, Employment and Social Security has issued a notice on the Nepal Gazette stating that the minimum wage of workers has been increased by Rs 520 per month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice issued on Monday (July 12) has instructed stakeholders to implement the new provision from July 16 onwards.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice states that the basic salary of the workers of tea farm has been fixed at Rs 7,769 per month. Starting from July 16, the workers of tea farms will get a minimum monthly salary of Rs 12,081. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The daily wage of workers is Rs 435 while the hourly rate is Rs 57 per hour. The daily allowance of workers have been fixed at Rs 55.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prior to this, the workers in tea estates were receiving a monthly salary of Rs 11,561 since the beginning of the current fiscal year. The government has increased their salary only marginally. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13415', 'image' => '20210713115547_1626100840.Tea workers.jpg', 'article_date' => '2021-07-13 11:54:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13669', 'article_category_id' => '1', 'title' => 'Nepal is Key Partner of China to jointly Build BRI: Chinese Ambassador ', 'sub_title' => '', 'summary' => 'July 13: Chinese Ambassador to Nepal, Hou Yanqi, has asserted that Nepal is an important partner for China to jointly build the Belt and Road Initiative (BRI).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 13: Chinese Ambassador to Nepal, Hou Yanqi, has reportedly asserted that Nepal is an important partner for China to jointly build the Belt and Road Initiative (BRI). The Chinese envoy added that China-Nepal bilateral cooperation in various fields have made positive progress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ambassador Hou made such statement during an online press conference organized by the Chinese Embassy in Nepal on Monday (July 12), according to the state-owned national news agency (RSS). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"China-aided Kathmandu Durbar High School Reconstruction Project has been completed and handed over to the Nepali side. The pre-feasibility study of the Tokha-Chhahare Tunnel Project has been finished. The construction of Pokhara International Airport and Gautam Buddha International Airport is progressing well. The construction of the third phase of China Aid Araniko Highway Long-term Opening Maintenance Project has been started. Trans-Himalayan multi-dimensional connectivity network is gradually taking shape," RSS quoted Ambassador Hou as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the outbreak of the COVID-19 pandemic, Ambassador Hou said, China has actively carried out international cooperation in the fight against the pandemic, and is committed to ensuring accessibility and affordability of vaccines in developing countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Till date, China has provided over 450 million doses of vaccines to nearly 100 countries including Nepal. The first batch of the vaccines procured by Nepal from China has arrived. I wish those vaccines will play an important role in building an immune firewall for the Nepali people," she shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She added that when China encounters difficulties, developing countries including Nepal also provide support to China within their capabilities, actively speak for China on international and multilateral platforms, resolutely oppose some countries’ smear against China on issues such as human rights and origin-tracing of COVID-19 virus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Just as President Xi Jinping reiterated, China will always be a member of the developing world. No matter how the international situation changes, we will always be a reliable friend and sincere partner of developing countries." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She reiterated that China will remain committed to promoting peace, development, cooperation, and mutual benefit, with an independent foreign policy that promotes peace, and to the path of peaceful development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Chinese Ambassador, the Communist Party of China stands ready to continue to work with political parties and political organizations of all countries including Nepal, RSS added.</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"">She further said that China</span><strong><span style="font-family:"Arial Unicode MS","sans-serif""> aims</span></strong><span style="font-family:"Arial Unicode MS","sans-serif""> to make even greater contributions to the building of a community with a shared future for mankind, high-quality development of BRI and a better world.</span></span></span></p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13414', 'image' => '20210713104552_20200101120650_aaa.jpg', 'article_date' => '2021-07-13 10:44:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13667', 'article_category_id' => '1', 'title' => 'Supreme Court Reinstates HoR, Orders President to appoint Deuba as new PM by Tomorrow', 'sub_title' => '', 'summary' => 'July 12: The Supreme Court has once again issued a verdict to reinstate the House of Representatives which was dissolved by President Bidya Devi Bhandari upon the recommendation of Prime Minister KP Sharma Oli on May 22.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">July 12</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">: </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The Supreme Court has once again issued a verdict to reinstate the House of Representatives which was dissolved by President Bidya Devi Bhandari upon the recommendation of Prime Minister KP Sharma Oli on May 22.</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:"Georgia","serif"">In its landmark verdict issued today (July 12), the five-member constitutional bench headed by Chief Justice Cholendra Shumsher JB Rana quashed the decision of President Bhandari to dissolve the lower House and fix the mid-term elections for November.</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:"Georgia","serif"">The constitutional bench’s verdict has not only reinstated the House, but also paved the way for Nepali Congress President Sher Bahadur Deuba to become the upcoming Prime Minister.</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:"Georgia","serif"">In line with the petitioners’ demand, the Constitutional Bench issued a mandamus order to President Bhandari to appoint Nepali Congress President Deuba as the Prime Minister by 5 PM tomorrow (July 13). </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:"Georgia","serif"">With the court’s landmark verdict, Deuba will now succeed Oli as the country’s new Prime Minister.</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:"Georgia","serif"">Stating that incumbent Prime Minister Oli did not complete the process of Article 76 (4) that requires the Prime Minister to win a confidence vote in the House, the Constitutional Bench ruled that President Bhandari’s decision to dismiss Deuba’s claim on the post of Prime Minister was not constitutional.</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:"Georgia","serif"">After President Bhandari rejected both claims of Prime Minister Oli and Nepali Congress President Deuba of having support of majority of lawmakers to form the government as per Article 76 (5), Prime Minister Oli on May 22 had recommended her to dissolve the House and announce mid-term elections for November.</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"">Alt</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">hough President Bhandari dissolved the House and set mid-term elections for November, the move was immediately challenged at the Supreme Court by 146 lawmakers from the main opposition Nepali Congress and other political parties as well as ruling CPN (UML)’s disgruntled faction led by former Prime Minister Madhav Kumar 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:"Georgia","serif"">The Constitutional Bench of the Supreme Court also ordered President Bhandari to summon the House session within seven days of its verdict. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13413', 'image' => '20210712032647_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-07-12 15:25:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13668', 'article_category_id' => '1', 'title' => 'Himalayan Re-insurance Company gets License for Operation ', 'sub_title' => '', 'summary' => 'July 12: Himalayan Reinsurance Company has received final approval from the Insurance Board to operate its business. The Insurance Board gave the final approval to the company last Thursday for operating its business.', 'content' => '<p>July 12: <span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalayan Reinsurance Company has received final approval from the Insurance Board to operate its business. The Insurance Board gave the final approval to the company last Thursday for operating its business.</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:"Georgia","serif"">The board had given in-principle approval for the establishment of the Himalayan Re-insurance Company on May 30. It received the final approval for operation after the private company completed the required process. Chairman of the Insurance Board Surya Prasad Silwal confirmed that the final approval has been given for the operation of the Himalayan Reinsurance Company.</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:"Georgia","serif"">After getting the in-principle approval from the board, the company was registered with the Company Registrar's Office. An investment of Rs 7 billion was also made. Besides, the board has given final approval to the company to conduct business after completing the necessary process including setting up the company's office in Baluwatar and appointing Shekhar Golchha as the chairman of the company.</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:"Georgia","serif"">With the final approval from the Insurance Board, the company is preparing to start its business. Chairman of the company Shekhar Golchha said that the company will be operational within the current fiscal year, i.e. by mid-July. “Necessary preparations have been completed to start a reinsurance business. We will bring the company into operation within the month of July,” said Chairman Golchha.</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:"Georgia","serif"">The company has also written to the Insurance Board on Sunday stating that it will start its business. The Insurance Board is preparing to inspect the company's head office in Baluwatar today (Monday). During the inspection, the company must meet certain policy requirements. A senior official of the board said that the company could come into operation after that.</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:"Georgia","serif"">During the inspection, the company must have fulfilled the required conditions regarding the size of the office, computer software, and staff.</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:"Georgia","serif"">The company is preparing to bring in three high-level manpower, including the chief executive officer, from abroad (India). Employees brought from abroad have to get a work permit from the labor department. The company has already submitted an application to the board for necessary facilitation and approval for the appointment.</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:"Georgia","serif"">Reinsurance is an international business. Himalayan Re-insurance Company has to go to foreign markets to expand its business. That is why the company is saying that it is bringing high-ranking employees from abroad in line with the objective of expanding its business in foreign markets.</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:"Georgia","serif"">Currently, the government-owned Nepal Reinsurance Company is operating in Nepal. A study conducted by the board had earlier found that another reinsurance company was needed in the country. After that, the board started the process of establishing a new reinsurance company in April last year. Five companies had filed application to start the reinsurance business. Out of them, the board decided to give in-principle approval to Himalayan Re-insurance Company.</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:"Georgia","serif"">The other companies that applied were Kathmandu Re-insurance Company, Annapurna Re-insurance Company, Prudential Re-insurance Company, and Genuine Re-insurance Company. </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:"Georgia","serif"">The paid-up capital of Himalayan Re-insurance Company is Rs 10 billion. The institutional investment of the company is Rs 7 billion. The remaining Rs 3 billion will be raised through IPOs, the company said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The main share investor of the company is Jagdamba (Shankar) Group. The board informed that there is an investment of Lucky Group, Dugad Group, and other business houses in the company.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13412', 'image' => '20210712040017_20200630093335_Reinsurance.jpg', 'article_date' => '2021-07-12 15:59:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13666', 'article_category_id' => '1', 'title' => 'Nepal Telecom to Issue its Shares to Customers', 'sub_title' => '', 'summary' => 'July 12: Following the government’s announcement in the budget to issue 22 percent shares of Nepal Telecom to the customers using landline, mobile and internet services, it has initiated preparations to implement the announcement. ', 'content' => '<p>July 12: <span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Following the government’s announcement in the budget to issue 22 percent shares of Nepal Telecom to the customers using landline, mobile and internet services, it has initiated preparations to implement the announcement. </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:"Georgia","serif"">The budget provision allows customers using Nepal Telecom's landline, mobile and internet services till the mid of January 2021, to participate in the purchase share. The Ministry of Finance has started necessary preparations to finanalize the value of the company's share and its distribution process by mid-October. </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:"Georgia","serif"">According to the officials of the Ministry of Finance, Ministry of Communication and Information Technology (MoCIT), Nepal Telecom (NT), they have initiated paperwork to implement the program as announced in the budget. Dirgharaj Mainali, joint secretary of the Ministry of Finance (MoF), informed that it has started necessary homework to implement the programme with new vision though such programs have not been introduced in the past. The company has been formed with the service fee paid by the service seekers so a new model will be finalized to hand over the ownership of the company to customers themselves. </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:"Georgia","serif"">"This issue has already been researched so the government is preparing an action plan to implement this programme. The action plan is being formulated in coordination with the NT, MoCIT, MoF. MoF will be leading this project," said Mainali.</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:"Georgia","serif"">Some provisions need to be added in the Privatization Act to issue shares of NT to the customers. Preparations have been made to add the provisions through a Cabinet decision. There is a privatization committee chaired by the minister, which also includes the secretaries of the concerned ministries. MoF is preparing to take the proposal to the Cabinet after completing the required process as per the Privatization Act.</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:"Georgia","serif"">The Privatization Act does not envision this kind of concept as announced in the budget program. It does not envisage the idea of </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""></span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">issuing shares to the customers themselves.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Georgia","serif""> Finance ministry officials say there is a need to move forward on the basis of share disinvestment provisions. Discussions have already started between the privatization committee and the Securities Board of Nepal on the model through which the shares will be distributed. </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:"Georgia","serif"">According to MoF sources, the government made this announcement in the budget aiming to increase the number of telecom customers. The government currently owns 92 percent shares of Nepal Telecom and the public hold the ownership of the remaining eight percent of shares. When the public will be issued with additional shares, government's ownership will be reduced to 70 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">MoCIT is also working with the concerned departments for this. Sobhakant Poudel, joint secretary of MoCIT said that the NT board has the full authority to decide on the share ownership of the company. "The budget has already stated about the public shares offering so it will be implemented in time," Poudel 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:"Georgia","serif"">Discussions have been ongoing since the tenure of former MoCIT Minister Gokul Baskota about issuing shares or bringing in a strategic partner. Banskota was against the idea of bringing in a strategic partner. He was of the view to issue shares to the public and expand its customer base.</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:"Georgia","serif"">Nepal Telecom has also made necessary preparations to make the program announced in the budget a success. Dilli Ram Adhikari, managing director of Nepal Telecom, said that the decision would be taken by the board of NT after receiving the draft of the plan from the MoF. Since the budget announcement to issue shares to the public, the company has expedited the task of updating the KYC of the existing customers.</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:"Georgia","serif"">He said that the process will start after the work procedure of appointing share manager will be finalized. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13411', 'image' => '20210712025647_20200721022343_1595282477.Clipboard05.jpg', 'article_date' => '2021-07-12 14:55:08', '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' => '13680', 'article_category_id' => '1', 'title' => 'Government Plans to Restructure NAC with its 51 Percent Stake ', 'sub_title' => '', 'summary' => 'July 15: Efforts to restructure the state-owned Nepal Airlines Corporation (NAC) since the past two decades are now materializing.', '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 15: Efforts to restructure the state-owned Nepal Airlines Corporation (NAC) since the past two decades are now materializing. Six task forces were formed in the past for reforming the corporation. Based on the suggestions and reports of those task forces, homework has been done to convert the corporation into a public company.</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"">Similarly, plans are afoot to bring in foreign airlines as strategic partners for NAC under the new company model and to raise additional investment.</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"">Since 2058 BS, various task forces have been formed to reform the corporation. As per the announcement made by the government in the budget of the upcoming fiscal year, there is more pressure to transform the NAC into a company now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Dim Prasad Poudel, general manager of the corporation, informed that a share structure plan is proposed so that the government of Nepal owns 51 percent shares in the proposed company. </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 also said that a plan has been made to give 30 percent shares to foreign investment partners, Similarly, 14 percent shares will be opened for the general public and tourism entrepreneurs, and 5 percent shares to the employees affiliated with the 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"">The last time the Nepal Airlines Corporation Reform Suggestion Task Force Report was prepared was on September 20, 2008, under the coordination of former Tourism Secretary Sushil Ghimire. Poudel was a member of the task force. "Based on the study, the government has decided to transform the corporation into a company,” Poudel said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Amid controversy over the privatization of the corporation over the past two weeks and the workers' protest, Poudel made NAC’s official position public only on Tuesday.</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 preparations have been made to transform the corporation like that of Nepal Telecom but the issue of privatization is confusing. "The pride of the nation, the national flag-carrier, cannot survive the current economic and managerial turmoil," he said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13425', 'image' => '20210715014455_20190429011929_aaa (2).jpg', 'article_date' => '2021-07-15 13:42:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13678', 'article_category_id' => '1', 'title' => 'DoTM Increases Public Vehicle Fare for Long-distance Route by 28 percent', 'sub_title' => '', 'summary' => 'July 15: The Department of Transport Management has decided to increase the fare of public vehicles operating in long-distance route by 28 percent.', '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 15: The Department of Transport Management has decided to increase the fare of public vehicles operating in long-distance route by 28 percent. Releasing a public notice on Wednesday, the department has informed that the transportation fare has been adjusted as per the decision taken on July 13.</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 department has informed that the fare of public vehicles running in two or more than two provinces has been increased. Spokesperson of the department Dr Loknath Bhusal said that they have decided to increase the fare of freight vehicles along with the public transportation. According to him, the department has decided to increase the fare of passenger vehicles up to 28 percent, while freight vehicles operating in routes of Terai and hill districts have been increased by 26 and 20 percent respectively.</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 have adjusted the fares based on the investment and expenditure of public transport, market analysis, consultation with the concerned bodies, the wages of the transport workers, tires, lubricants, parts, fuel, etc,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The transport entrepreneurs have been pressurizing the government since a long time demanding an increase in public transport fare. A study committee on fare adjustment was formed on April 20 under the coordination of the director of the department Ram Chandra Poudel. Concluding that the fare should be increased, the committee had sent a report to the Ministry of Physical Infrastructure and Transport on May 4. The ministry had approved the decision to adjust the fare on July 13 after the government was sure to collapse.</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"">Although the new fare will apply to vehicles plying in two or more provinces, the decision will not apply to short-distance 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"">“Currently, we have adjusted the fares of inter-province vehicles. The decision to adjust the fares of short-distance transport can be made at the local level,” said 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"">The Federation of Nepalese National Transport Entrepreneurs has welcomed the decision of fare adjustment but said that it was not as per their demand. The president of the federation Yogendra Nath Karmacharya said, “It is a good decision to adjust the fare as there has been no adjustment for the last nine years. However, as it is not scientific fare, we expect it to be adjusted by studying in the coming days.” He informed that a circular has been issued to the entrepreneurs on Wednesday to implement the new fare from Thursday.</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"">Although the transport entrepreneurs say that there has been no fare adjustment since 2069 BS, the last time the fare of public transport was increased by 10 percent was in 2075 BS.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13424', 'image' => '20210715011716_20200721030826_1595264681.yatayat.jpg', 'article_date' => '2021-07-15 13:16:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13677', 'article_category_id' => '1', 'title' => 'Deuba Government to Focus on Pandemic', 'sub_title' => '', 'summary' => 'July 15: Newly-appointed Prime Minister Sher Bahadur Deuba has taken decisions with special attention to coronavirus in the first meeting of the Council of Ministers to convey the message that his government has kept coronavirus pandemic in top-priority list.', '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 15: Newly-appointed Prime Minister Sher Bahadur Deuba has taken decisions with special attention to coronavirus in the first meeting of the Council of Ministers to convey the message that his government has kept coronavirus pandemic in top-priority list.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first cabinet meeting, Deuba decided to provide vaccines to all the citizens. The decision of the Council of Ministers aims to vaccinate one-third of citizens by mid-October. The meeting has also decided to vaccinate all those eligible for vaccination under certain criteria by mid-April.</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 meeting also decided to make public the expenditure of the previous government for the prevention, control, and treatment of the Covid-19 pandemic and to start providing risk allowance to the health workers, security personnel, and cleaners who will be deployed on the frontline during the pandemic.</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 cabinet meeting has also determined various priorities of the government. The government has also given high priority to the issue of maintaining law and order.</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 prevention, control, and treatment of COVID-19, economic prosperity, and the rapid recovery of the economy affected by COVID-19 are also of high importance to the government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government has also decided to appoint a special advisor for effective control, prevention, and treatment of the coronavirus. Government Spokesperson and Minister for Law, Justice, and Parliamentary Affairs Gyanendra Bahadur Karki informed that the meeting has decided to make public the budget spent so far for the prevention, control, and treatment of COVID-19. Karki said that the government will introduce a special package within a week to revive the economy.</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"">Similarly, the newly-appointed Finance Minister Janardan Sharma on Wednesday took the first decision to give Rs 5 billion to the Ministry of Health to purchase vaccine against Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma decided to implement the first decision made by the cabinet to ensure vaccination to all citizens. The vaccination campaign in Nepal has been affected due to an insufficient supply of vaccines.</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 has decided to disburse Rs. 961.21 million to federal and private hospitals to purchase HDUs, ventilators, ICUs, and coronavirus control health equipment. </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"">After taking charge of office, Minister Sharma said that prevention and control of corona and free vaccination to all citizens was the priority of the government and directed the staff to work to this effect. Finance Minister Sharma said that the government should move ahead in collaboration with the private sector as there was a need to revive the economy crippled by the pandemic.</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"">Newly-appointed Home Minister Bal Krishna Khand approved Rs 2 million to the District Disaster Management Fund to provide relief to the flood and landslide victims.</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"">Khand said that a decision would be taken after discussing with the experts regarding the implementation of the budget for the fiscal year 2078/79 BS.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13423', 'image' => '20210715115732_adsafd.jpg', 'article_date' => '2021-07-15 11:56:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13679', 'article_category_id' => '1', 'title' => 'Lower Modi 1 Resumes Production of Electricity after a Week', 'sub_title' => '', 'summary' => 'July 15: The production of Lower Modi '1' Hydropower Project, which was halted since July 6 due to the damage caused by flood, has resumed after a week on Sunday.', '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 15: The production of Lower Modi '1' Hydropower Project, which was halted since July 6 due to the damage caused by flood, has resumed after a week on Sunday.</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 flood in Sundarekhola in Dobilla of Kushma Municipality-8 of the district had damaged about 300 meters of canal. The floods in Modikhola had also damaged the source of the hydropower project on the same day. Managing Director of United Modi Hydropower Limited, Upendra Gautam, informed that the production started on Sunday evening after completing the maintenance work.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to him, the 300-meter-long canal, which is four meters wide and four meters high, was completely buried by the sediments of floods in Sundarekhola. The project staff along with 50 other people repaired it.</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"">Gautam informed that 9.5 MW of electricity has been generated since Sunday evening. The project is estimated to have borne a loss of Rs 45 million to Rs 50 million due to the floods. He said that the details of the damage to the source could not be determined as the flow of Modikhola was still high. There was no damage to the production house of the project.</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 site engineer of Lama Construction, a construction company of Mid-Hill highway, Rajaram Acharya and drive Indra Tharu were also swept away by the flood on the same day in Sundarekhola. Although the vehicle has been found, the whereabout of Acharya and Tharu is yet to be known. The flood-damaged Mid-Hill highway has been operating through a single lane.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13422', 'image' => '20210715013100_ffff.jpg', 'article_date' => '2021-07-15 13:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13676', 'article_category_id' => '1', 'title' => 'Milk Consumption Only 65% Even After Relaxation of Prohibitory Orders', 'sub_title' => '', 'summary' => 'Though the government has relaxed prohibitory orders imposed to contain the spread of coronavirus, dairy industries say that the consumption of milk and dairy products is yet to pick up. ', 'content' => '<p>July 14: Though the government has relaxed prohibitory orders imposed to contain the spread of coronavirus, dairy industries say that the consumption of milk and dairy products is yet to pick up.</p> <p>According to estimates provided by Dairy Industries Association, consumption of milk and dairy product is only 65 percent of the pre-prohibitory period. <br /> According to the Dairy Industries Association, DDC, Dairy Industries Association and Nepal Dairy Association used to supply 300,000 liters of milk in Kathmandu Valley on a daily basis during the prohibitory period. The supply has increased to 350,000 liters a day after the recent relaxation of the prohibitory orders compared to 700,000 liters per day compared to 7000,000 liters per day before the prohibitory orders were imposed by local administrations in Kathmandu Valley on April 29.<br /> Leaders of dairy industries’ associations blame closure of hotels, restaurants and party palaces for the lower consumption of milk and dairy products in the market. <br /> Though some restaurants and hotels provide takeaway services after the relaxation of prohibitory orders, many are still closed or yet to operate to provide catering or table services. <br /> While the demand for milk used to be 300,000 liters per day in hotels, restaurants and schools alone, the consumption in these sectors have now fallen to zero, said Raj Kumar Dahal, president of the Dairy Industries Association.</p> <p>The market for milk and dairy products is one of the most affected markets by the pandemic. As the pandemic has disrupted the market, dairies and dairy industries across the country have stockpiled powdered milk and butter worth Rs 3 billion. As demands have plummeted, dairy industries are converting their surplus milk into powdered milk and butter.</p> <p>The industrialists and businessmen opted to make milk powder and butter to prevent wastage of the milk due to the fall in the demand. <br /> Fears about the possible third wave of coronavirus have further affected the market and worried us, said Prahlad Dahal, Nepal Dairy Association’s President. <br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13421', 'image' => '20210714055638_Dairy.jpg', 'article_date' => '2021-07-14 17:53:07', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 5 => array( 'Article' => array( 'id' => '13675', 'article_category_id' => '1', 'title' => 'Supreme Court Questions Validity of Budget Introduced Through Ordinance', 'sub_title' => '', 'summary' => 'The Supreme Court has also raised a question on the budget presented by KP Sharma Oli-led government for the upcoming fiscal year 2021/22 through an ordinance.', 'content' => '<p>July 14: <br /> The Supreme Court has also raised a question on the budget presented by KP Sharma Oli-led government for the upcoming fiscal year 2021/22 through an ordinance.<br /> In its ‘landmark’ verdict issued on Monday, the Constitutional Bench of the Supreme Court not only reinstated the House of Representatives, but also said that it was not appropriate to present the estimate of expenditure and revenue through ordinance after the dissolution of the House.</p> <p>The verdict issued by the SC reads that the caretaker government is allowed only to make provisions for mandatory government expenses rather than announcing plans and programs that have long-term implications.</p> <p>Presenting the budget through ordinance without being endorsed through the parliament, the government has promoted a practice that goes against the parliamentary norms, according to the verdict. </p> <p>"If such non-parliamentary practices are continued, they undermine various provisions in the constitution and promote arbitrary behaviour. The dissolution of the House of Representatives only a week before the date meant for the unveiling of the budget program is perceived as a betrayal against the implementation of constitutional provision set by Article 119 (3) of the Constitution of Nepal," reads SC ruling.<br /> Bhimarjun Acharya, a constitutional expert says that the government can bring the budget again through the parliament as the SC has questioned the validity of the budget brought through ordinance. He said that it was wrong on the part of the government to dissolve the parliament abruptly and bring the budget through an ordinance. According to him, the new government can bring the budget from the parliament as the new fiscal year has not started yet.<br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13420', 'image' => '20210714030842_Budget.jpg', 'article_date' => '2021-07-14 15:04:45', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13674', 'article_category_id' => '1', 'title' => 'Finance Minister Sharma’s First Decision Authorizes Health Ministry to Spend Rs 5 Billion', 'sub_title' => '', 'summary' => ' Ministry of Finance has approved a file authorizing the Ministry of Health and Population (MoHP) to spend Rs 5 billion for Covid-18 related spending. ', 'content' => '<p>July 14: Ministry of Finance has approved a file authorizing the Ministry of Health and Population (MoHP) to spend Rs 5 billion for Covid-18 related spending. This is the first decision of the newly appointed Minister for Finance Janardan Sharma. <br /> According to the MoF, Finance Minister Sharma approved the file to authorise the MoHP to spend Rs 5 billion on purchase of vaccines against Covid-19, setting up oxygen plant and procurement of HDU, ICU and ventilator. <br /> Finance Minister Sharma also approved another file for the spending on risk allowance for health workers mobilized to fight against Covid-19.<br /> Earlier on Tuesday, Prime Minister Sher Bahadur Deuba had appointed Minister Sharma, a leader of the CPN (Maoist Center), as the new finance minister along with three other new ministers. <br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13419', 'image' => '20210714021209_Janardan Sharma.jpg', 'article_date' => '2021-07-14 14:08:54', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 7 => array( 'Article' => array( 'id' => '13673', 'article_category_id' => '1', 'title' => 'DoR to build Four-lane Flyover at Gwarko ', 'sub_title' => '', 'summary' => 'July 13: The government has decided to expedite the construction of flyovers in the Kathmandu valley with the objective of minimizing traffic congestion.', '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 13: The government has decided to expedite the construction of flyovers in the Kathmandu valley with the objective of minimizing traffic congestion.</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 Department of Roads on Monday issued a tender for the construction of a four-lane flyover at Gwarko.</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"">Only the domestic construction companies of Nepal will be eligible to participate in the bidding process for the constructing the flyover. The company will have to hand over the flyover to the department within the next two years.</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 contract was issued by the Quality Research and Development Center under the department on Monday. </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"">Dr. Bijay Jaishi, director of the center, said that instead of a complex structure like in developed countries, a simple 35 meter bridge will be made and Nepali companies are capable of making such a bridge. So, the tender was issued allowing only Nepali companies to participate. </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 flyover to be constructed in the form of Engineering Procurement Construction (EPC) model should be completed by the company within the given deadline. </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"">“It is a small contract. Nepali construction companies also have good capacity to build bridges,” said Jaishi, “As it is a simple flyover, we are trying to encourage Nepalis.” </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 Kalanki-Koteshwor section of the ring road has been upgraded to eight lanes with the help of the Chinese government. Jaishi said that a four-lane flyover will be constructed in Gwarko under the same road section. Out of the 455-meter long flyover, a 35 meter bridge will be built over the road and vehicles from Mangalbazar (Patan) to Imadol will operate under the bridge. </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 department has already secured source of fund worth Rs 340 million from the Ministry of Finance to build the flyover. Jaishi said that this flyover will be built with the same amount. </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"">Apart from Gwarko, the department also has plans to build flyovers in Sitapaila and Ekantakuna. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13418', 'image' => '20210713090012_road-bridge.jpg', 'article_date' => '2021-07-13 20:58:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13672', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank preparing draft of Monetary Policy', 'sub_title' => '', 'summary' => 'July 13: Nepal Rastra Bank (NRB) is making necessary preparations to draft the monetary policy for the fiscal year 2021/22.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 13: Nepal Rastra Bank (NRB) is making necessary preparations to draft the monetary policy for the fiscal year 2021/22. The monetary policy will be unveiled in the third week of July. NRB is currently going through the suggestions provided by dozens of organizations and individuals.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Narayan Pokharel, Joint Spokesperson of the central bank, informed that the Financial Research Department of NRB has started the preliminary work after studying the suggestions received so far. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">"The government and private organizations have provided written suggestions while other important suggestions can still be incorporated. We have already started preparations to make the draft of the policy," he said.</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"">Prakash Shrestha, Director of the Department, said the department is preparing the preliminary draft of the policy. The monetary policy will be focused on special loans and interest rates for the revival of the economy that has been battered by Covid-19 pandemic.</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 department prepares a draft based on the suggestions provided by various stakeholders. Then, the draft is discussed with various departments after which, a high level committee of the central bank will discuss the draft of the policy. The committee forwards the draft to the bank's board of directors. The board prepares a final version of the policy which is introduced by the governor of the bank. </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 Shrestha, most of the organizations have sought for the plans to restructure the business after being affected by the second wave of the Covid-19 pandemic. The monetary policy of the fiscal Year 2020/21 had also introduced provisions to boost economic activities. </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"">"All of the enterprises and businesses have been affected by the second wave of the pandemic so findings from various surveys and researches will be taken into consideration while preparing the monetary policy," informed Shrestha.</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"">Recently, the central bank published a survey on the impacts of Covid-19 on the economy. Surveys carried out in different months had provided comparative insights of industries and business during the pandemic. </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"">Since the outbreak of the pandemic, various efforts have been made by NRB to minimize its impacts on the economy. In order to keep the banking and financial services running smoothly and minimize impacts of Covid-19, the central bank conducted various detailed studies. Considering the impacts on tourism, industry, trade, business and financial sectors, various policies have also been implemented for the convenience of all stakeholders.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13417', 'image' => '20210713025441_1626132831.Clipboard03.jpg', 'article_date' => '2021-07-13 14:52:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13671', 'article_category_id' => '1', 'title' => 'Vaccination Resumes from Today', 'sub_title' => '', 'summary' => 'July 13: The government has resumed vaccination drive against coronavirus from today (July 13) after receiving vaccines provided by China and the USA.', '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 13: The government has resumed vaccination drive against coronavirus from today (July 13) after receiving vaccines provided by China and the USA. Under this campaign, vaccination will be given on priority basis. The Ministry of Health and Population is going to start vaccinating people prioritizing the age group of 50 to 60 years, including driver and helpers of public vehicles, university professors, teachers and foreign refugees.</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 deputy spokesperson of the Ministry of Health and Population Dr. Samir Kumar Adhikari, the Chinese Vero Cell vaccine will be given to the people of age group of 55 to 60 years. Also, the same vaccine will be given to the people falling under the age group of 60 to 64 years, university professors, teachers, staff, public transport drivers and helpers.</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"">Adhikari also informed that even if the vaccine is given on priority basis, health workers, security personnel and journalists working in the health sector can get vaccinated at the designated vaccination centers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ministry has decided to administer the Johnson & Johnson vaccine, received from the United States, on Monday to people with complete and severe disabilities, foreign refugees residing in Nepal, and health workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Health and Population has notified that the vaccines are being administered from the previously designated centers. In addition, citizens have been asked to produce documents issued by the government that would disclose their age in order to receive the 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 government purchased 4 million doses of vaccine from China. In the first phase, 800,000 doses of Vero Cell were brought to the country on Friday. Similarly, 1534,850 doses of Johnson & Johnson vaccines arrived in Nepal on Monday under the Covax facility.</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"">Stating that the vaccines purchased from China will arrive in Nepal every week, the Dr Adhikari said that the process is underway to purchase more vaccines. "We are looking for alternatives to the India-made Covishield vaccine," he said, "In addition, initiatives are being taken with other countries to purchase more vaccines."</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"">Till date, 26,11,000 people have been given the first dose of vaccination, whereas 10,41,000 people have already received the second dose of vaccination as well.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13416', 'image' => '20210713023934_1626133196.Clipboard05.jpg', 'article_date' => '2021-07-13 14:38:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13670', 'article_category_id' => '1', 'title' => 'Government Hikes Wages of Tea Estate Farmers Marginally', 'sub_title' => '', 'summary' => 'July 13: The government has fixed the minimum wage of workers employed in tea farms. This provision will come into effect from the upcoming fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 13: The government has fixed the minimum wage of workers employed in tea farms. This provision will come into effect from the upcoming fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Labour, Employment and Social Security has issued a notice on the Nepal Gazette stating that the minimum wage of workers has been increased by Rs 520 per month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice issued on Monday (July 12) has instructed stakeholders to implement the new provision from July 16 onwards.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice states that the basic salary of the workers of tea farm has been fixed at Rs 7,769 per month. Starting from July 16, the workers of tea farms will get a minimum monthly salary of Rs 12,081. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The daily wage of workers is Rs 435 while the hourly rate is Rs 57 per hour. The daily allowance of workers have been fixed at Rs 55.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prior to this, the workers in tea estates were receiving a monthly salary of Rs 11,561 since the beginning of the current fiscal year. The government has increased their salary only marginally. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13415', 'image' => '20210713115547_1626100840.Tea workers.jpg', 'article_date' => '2021-07-13 11:54:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13669', 'article_category_id' => '1', 'title' => 'Nepal is Key Partner of China to jointly Build BRI: Chinese Ambassador ', 'sub_title' => '', 'summary' => 'July 13: Chinese Ambassador to Nepal, Hou Yanqi, has asserted that Nepal is an important partner for China to jointly build the Belt and Road Initiative (BRI).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 13: Chinese Ambassador to Nepal, Hou Yanqi, has reportedly asserted that Nepal is an important partner for China to jointly build the Belt and Road Initiative (BRI). The Chinese envoy added that China-Nepal bilateral cooperation in various fields have made positive progress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ambassador Hou made such statement during an online press conference organized by the Chinese Embassy in Nepal on Monday (July 12), according to the state-owned national news agency (RSS). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"China-aided Kathmandu Durbar High School Reconstruction Project has been completed and handed over to the Nepali side. The pre-feasibility study of the Tokha-Chhahare Tunnel Project has been finished. The construction of Pokhara International Airport and Gautam Buddha International Airport is progressing well. The construction of the third phase of China Aid Araniko Highway Long-term Opening Maintenance Project has been started. Trans-Himalayan multi-dimensional connectivity network is gradually taking shape," RSS quoted Ambassador Hou as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the outbreak of the COVID-19 pandemic, Ambassador Hou said, China has actively carried out international cooperation in the fight against the pandemic, and is committed to ensuring accessibility and affordability of vaccines in developing countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Till date, China has provided over 450 million doses of vaccines to nearly 100 countries including Nepal. The first batch of the vaccines procured by Nepal from China has arrived. I wish those vaccines will play an important role in building an immune firewall for the Nepali people," she shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She added that when China encounters difficulties, developing countries including Nepal also provide support to China within their capabilities, actively speak for China on international and multilateral platforms, resolutely oppose some countries’ smear against China on issues such as human rights and origin-tracing of COVID-19 virus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Just as President Xi Jinping reiterated, China will always be a member of the developing world. No matter how the international situation changes, we will always be a reliable friend and sincere partner of developing countries." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She reiterated that China will remain committed to promoting peace, development, cooperation, and mutual benefit, with an independent foreign policy that promotes peace, and to the path of peaceful development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Chinese Ambassador, the Communist Party of China stands ready to continue to work with political parties and political organizations of all countries including Nepal, RSS added.</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"">She further said that China</span><strong><span style="font-family:"Arial Unicode MS","sans-serif""> aims</span></strong><span style="font-family:"Arial Unicode MS","sans-serif""> to make even greater contributions to the building of a community with a shared future for mankind, high-quality development of BRI and a better world.</span></span></span></p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13414', 'image' => '20210713104552_20200101120650_aaa.jpg', 'article_date' => '2021-07-13 10:44:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13667', 'article_category_id' => '1', 'title' => 'Supreme Court Reinstates HoR, Orders President to appoint Deuba as new PM by Tomorrow', 'sub_title' => '', 'summary' => 'July 12: The Supreme Court has once again issued a verdict to reinstate the House of Representatives which was dissolved by President Bidya Devi Bhandari upon the recommendation of Prime Minister KP Sharma Oli on May 22.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">July 12</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">: </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The Supreme Court has once again issued a verdict to reinstate the House of Representatives which was dissolved by President Bidya Devi Bhandari upon the recommendation of Prime Minister KP Sharma Oli on May 22.</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:"Georgia","serif"">In its landmark verdict issued today (July 12), the five-member constitutional bench headed by Chief Justice Cholendra Shumsher JB Rana quashed the decision of President Bhandari to dissolve the lower House and fix the mid-term elections for November.</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:"Georgia","serif"">The constitutional bench’s verdict has not only reinstated the House, but also paved the way for Nepali Congress President Sher Bahadur Deuba to become the upcoming Prime Minister.</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:"Georgia","serif"">In line with the petitioners’ demand, the Constitutional Bench issued a mandamus order to President Bhandari to appoint Nepali Congress President Deuba as the Prime Minister by 5 PM tomorrow (July 13). </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:"Georgia","serif"">With the court’s landmark verdict, Deuba will now succeed Oli as the country’s new Prime Minister.</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:"Georgia","serif"">Stating that incumbent Prime Minister Oli did not complete the process of Article 76 (4) that requires the Prime Minister to win a confidence vote in the House, the Constitutional Bench ruled that President Bhandari’s decision to dismiss Deuba’s claim on the post of Prime Minister was not constitutional.</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:"Georgia","serif"">After President Bhandari rejected both claims of Prime Minister Oli and Nepali Congress President Deuba of having support of majority of lawmakers to form the government as per Article 76 (5), Prime Minister Oli on May 22 had recommended her to dissolve the House and announce mid-term elections for November.</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"">Alt</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">hough President Bhandari dissolved the House and set mid-term elections for November, the move was immediately challenged at the Supreme Court by 146 lawmakers from the main opposition Nepali Congress and other political parties as well as ruling CPN (UML)’s disgruntled faction led by former Prime Minister Madhav Kumar 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:"Georgia","serif"">The Constitutional Bench of the Supreme Court also ordered President Bhandari to summon the House session within seven days of its verdict. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13413', 'image' => '20210712032647_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-07-12 15:25:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13668', 'article_category_id' => '1', 'title' => 'Himalayan Re-insurance Company gets License for Operation ', 'sub_title' => '', 'summary' => 'July 12: Himalayan Reinsurance Company has received final approval from the Insurance Board to operate its business. The Insurance Board gave the final approval to the company last Thursday for operating its business.', 'content' => '<p>July 12: <span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalayan Reinsurance Company has received final approval from the Insurance Board to operate its business. The Insurance Board gave the final approval to the company last Thursday for operating its business.</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:"Georgia","serif"">The board had given in-principle approval for the establishment of the Himalayan Re-insurance Company on May 30. It received the final approval for operation after the private company completed the required process. Chairman of the Insurance Board Surya Prasad Silwal confirmed that the final approval has been given for the operation of the Himalayan Reinsurance Company.</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:"Georgia","serif"">After getting the in-principle approval from the board, the company was registered with the Company Registrar's Office. An investment of Rs 7 billion was also made. Besides, the board has given final approval to the company to conduct business after completing the necessary process including setting up the company's office in Baluwatar and appointing Shekhar Golchha as the chairman of the company.</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:"Georgia","serif"">With the final approval from the Insurance Board, the company is preparing to start its business. Chairman of the company Shekhar Golchha said that the company will be operational within the current fiscal year, i.e. by mid-July. “Necessary preparations have been completed to start a reinsurance business. We will bring the company into operation within the month of July,” said Chairman Golchha.</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:"Georgia","serif"">The company has also written to the Insurance Board on Sunday stating that it will start its business. The Insurance Board is preparing to inspect the company's head office in Baluwatar today (Monday). During the inspection, the company must meet certain policy requirements. A senior official of the board said that the company could come into operation after that.</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:"Georgia","serif"">During the inspection, the company must have fulfilled the required conditions regarding the size of the office, computer software, and staff.</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:"Georgia","serif"">The company is preparing to bring in three high-level manpower, including the chief executive officer, from abroad (India). Employees brought from abroad have to get a work permit from the labor department. The company has already submitted an application to the board for necessary facilitation and approval for the appointment.</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:"Georgia","serif"">Reinsurance is an international business. Himalayan Re-insurance Company has to go to foreign markets to expand its business. That is why the company is saying that it is bringing high-ranking employees from abroad in line with the objective of expanding its business in foreign markets.</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:"Georgia","serif"">Currently, the government-owned Nepal Reinsurance Company is operating in Nepal. A study conducted by the board had earlier found that another reinsurance company was needed in the country. After that, the board started the process of establishing a new reinsurance company in April last year. Five companies had filed application to start the reinsurance business. Out of them, the board decided to give in-principle approval to Himalayan Re-insurance Company.</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:"Georgia","serif"">The other companies that applied were Kathmandu Re-insurance Company, Annapurna Re-insurance Company, Prudential Re-insurance Company, and Genuine Re-insurance Company. </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:"Georgia","serif"">The paid-up capital of Himalayan Re-insurance Company is Rs 10 billion. The institutional investment of the company is Rs 7 billion. The remaining Rs 3 billion will be raised through IPOs, the company said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The main share investor of the company is Jagdamba (Shankar) Group. The board informed that there is an investment of Lucky Group, Dugad Group, and other business houses in the company.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13412', 'image' => '20210712040017_20200630093335_Reinsurance.jpg', 'article_date' => '2021-07-12 15:59:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13666', 'article_category_id' => '1', 'title' => 'Nepal Telecom to Issue its Shares to Customers', 'sub_title' => '', 'summary' => 'July 12: Following the government’s announcement in the budget to issue 22 percent shares of Nepal Telecom to the customers using landline, mobile and internet services, it has initiated preparations to implement the announcement. ', 'content' => '<p>July 12: <span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Following the government’s announcement in the budget to issue 22 percent shares of Nepal Telecom to the customers using landline, mobile and internet services, it has initiated preparations to implement the announcement. </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:"Georgia","serif"">The budget provision allows customers using Nepal Telecom's landline, mobile and internet services till the mid of January 2021, to participate in the purchase share. The Ministry of Finance has started necessary preparations to finanalize the value of the company's share and its distribution process by mid-October. </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:"Georgia","serif"">According to the officials of the Ministry of Finance, Ministry of Communication and Information Technology (MoCIT), Nepal Telecom (NT), they have initiated paperwork to implement the program as announced in the budget. Dirgharaj Mainali, joint secretary of the Ministry of Finance (MoF), informed that it has started necessary homework to implement the programme with new vision though such programs have not been introduced in the past. The company has been formed with the service fee paid by the service seekers so a new model will be finalized to hand over the ownership of the company to customers themselves. </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:"Georgia","serif"">"This issue has already been researched so the government is preparing an action plan to implement this programme. The action plan is being formulated in coordination with the NT, MoCIT, MoF. MoF will be leading this project," said Mainali.</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:"Georgia","serif"">Some provisions need to be added in the Privatization Act to issue shares of NT to the customers. Preparations have been made to add the provisions through a Cabinet decision. There is a privatization committee chaired by the minister, which also includes the secretaries of the concerned ministries. MoF is preparing to take the proposal to the Cabinet after completing the required process as per the Privatization Act.</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:"Georgia","serif"">The Privatization Act does not envision this kind of concept as announced in the budget program. It does not envisage the idea of </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""></span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">issuing shares to the customers themselves.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Georgia","serif""> Finance ministry officials say there is a need to move forward on the basis of share disinvestment provisions. Discussions have already started between the privatization committee and the Securities Board of Nepal on the model through which the shares will be distributed. </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:"Georgia","serif"">According to MoF sources, the government made this announcement in the budget aiming to increase the number of telecom customers. The government currently owns 92 percent shares of Nepal Telecom and the public hold the ownership of the remaining eight percent of shares. When the public will be issued with additional shares, government's ownership will be reduced to 70 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">MoCIT is also working with the concerned departments for this. Sobhakant Poudel, joint secretary of MoCIT said that the NT board has the full authority to decide on the share ownership of the company. "The budget has already stated about the public shares offering so it will be implemented in time," Poudel 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:"Georgia","serif"">Discussions have been ongoing since the tenure of former MoCIT Minister Gokul Baskota about issuing shares or bringing in a strategic partner. Banskota was against the idea of bringing in a strategic partner. He was of the view to issue shares to the public and expand its customer base.</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:"Georgia","serif"">Nepal Telecom has also made necessary preparations to make the program announced in the budget a success. Dilli Ram Adhikari, managing director of Nepal Telecom, said that the decision would be taken by the board of NT after receiving the draft of the plan from the MoF. Since the budget announcement to issue shares to the public, the company has expedited the task of updating the KYC of the existing customers.</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:"Georgia","serif"">He said that the process will start after the work procedure of appointing share manager will be finalized. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13411', 'image' => '20210712025647_20200721022343_1595282477.Clipboard05.jpg', 'article_date' => '2021-07-12 14:55:08', '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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Six task forces were formed in the past for reforming the corporation. Based on the suggestions and reports of those task forces, homework has been done to convert the corporation into a public company.</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"">Similarly, plans are afoot to bring in foreign airlines as strategic partners for NAC under the new company model and to raise additional investment.</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"">Since 2058 BS, various task forces have been formed to reform the corporation. As per the announcement made by the government in the budget of the upcoming fiscal year, there is more pressure to transform the NAC into a company now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Dim Prasad Poudel, general manager of the corporation, informed that a share structure plan is proposed so that the government of Nepal owns 51 percent shares in the proposed company. </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 also said that a plan has been made to give 30 percent shares to foreign investment partners, Similarly, 14 percent shares will be opened for the general public and tourism entrepreneurs, and 5 percent shares to the employees affiliated with the 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"">The last time the Nepal Airlines Corporation Reform Suggestion Task Force Report was prepared was on September 20, 2008, under the coordination of former Tourism Secretary Sushil Ghimire. Poudel was a member of the task force. "Based on the study, the government has decided to transform the corporation into a company,” Poudel said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Amid controversy over the privatization of the corporation over the past two weeks and the workers' protest, Poudel made NAC’s official position public only on Tuesday.</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 preparations have been made to transform the corporation like that of Nepal Telecom but the issue of privatization is confusing. "The pride of the nation, the national flag-carrier, cannot survive the current economic and managerial turmoil," he said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13425', 'image' => '20210715014455_20190429011929_aaa (2).jpg', 'article_date' => '2021-07-15 13:42:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13678', 'article_category_id' => '1', 'title' => 'DoTM Increases Public Vehicle Fare for Long-distance Route by 28 percent', 'sub_title' => '', 'summary' => 'July 15: The Department of Transport Management has decided to increase the fare of public vehicles operating in long-distance route by 28 percent.', '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 15: The Department of Transport Management has decided to increase the fare of public vehicles operating in long-distance route by 28 percent. Releasing a public notice on Wednesday, the department has informed that the transportation fare has been adjusted as per the decision taken on July 13.</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 department has informed that the fare of public vehicles running in two or more than two provinces has been increased. Spokesperson of the department Dr Loknath Bhusal said that they have decided to increase the fare of freight vehicles along with the public transportation. According to him, the department has decided to increase the fare of passenger vehicles up to 28 percent, while freight vehicles operating in routes of Terai and hill districts have been increased by 26 and 20 percent respectively.</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 have adjusted the fares based on the investment and expenditure of public transport, market analysis, consultation with the concerned bodies, the wages of the transport workers, tires, lubricants, parts, fuel, etc,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The transport entrepreneurs have been pressurizing the government since a long time demanding an increase in public transport fare. A study committee on fare adjustment was formed on April 20 under the coordination of the director of the department Ram Chandra Poudel. Concluding that the fare should be increased, the committee had sent a report to the Ministry of Physical Infrastructure and Transport on May 4. The ministry had approved the decision to adjust the fare on July 13 after the government was sure to collapse.</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"">Although the new fare will apply to vehicles plying in two or more provinces, the decision will not apply to short-distance 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"">“Currently, we have adjusted the fares of inter-province vehicles. The decision to adjust the fares of short-distance transport can be made at the local level,” said 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"">The Federation of Nepalese National Transport Entrepreneurs has welcomed the decision of fare adjustment but said that it was not as per their demand. The president of the federation Yogendra Nath Karmacharya said, “It is a good decision to adjust the fare as there has been no adjustment for the last nine years. However, as it is not scientific fare, we expect it to be adjusted by studying in the coming days.” He informed that a circular has been issued to the entrepreneurs on Wednesday to implement the new fare from Thursday.</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"">Although the transport entrepreneurs say that there has been no fare adjustment since 2069 BS, the last time the fare of public transport was increased by 10 percent was in 2075 BS.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13424', 'image' => '20210715011716_20200721030826_1595264681.yatayat.jpg', 'article_date' => '2021-07-15 13:16:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13677', 'article_category_id' => '1', 'title' => 'Deuba Government to Focus on Pandemic', 'sub_title' => '', 'summary' => 'July 15: Newly-appointed Prime Minister Sher Bahadur Deuba has taken decisions with special attention to coronavirus in the first meeting of the Council of Ministers to convey the message that his government has kept coronavirus pandemic in top-priority list.', '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 15: Newly-appointed Prime Minister Sher Bahadur Deuba has taken decisions with special attention to coronavirus in the first meeting of the Council of Ministers to convey the message that his government has kept coronavirus pandemic in top-priority list.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the first cabinet meeting, Deuba decided to provide vaccines to all the citizens. The decision of the Council of Ministers aims to vaccinate one-third of citizens by mid-October. The meeting has also decided to vaccinate all those eligible for vaccination under certain criteria by mid-April.</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 meeting also decided to make public the expenditure of the previous government for the prevention, control, and treatment of the Covid-19 pandemic and to start providing risk allowance to the health workers, security personnel, and cleaners who will be deployed on the frontline during the pandemic.</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 cabinet meeting has also determined various priorities of the government. The government has also given high priority to the issue of maintaining law and order.</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 prevention, control, and treatment of COVID-19, economic prosperity, and the rapid recovery of the economy affected by COVID-19 are also of high importance to the government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government has also decided to appoint a special advisor for effective control, prevention, and treatment of the coronavirus. Government Spokesperson and Minister for Law, Justice, and Parliamentary Affairs Gyanendra Bahadur Karki informed that the meeting has decided to make public the budget spent so far for the prevention, control, and treatment of COVID-19. Karki said that the government will introduce a special package within a week to revive the economy.</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"">Similarly, the newly-appointed Finance Minister Janardan Sharma on Wednesday took the first decision to give Rs 5 billion to the Ministry of Health to purchase vaccine against Covid-19.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sharma decided to implement the first decision made by the cabinet to ensure vaccination to all citizens. The vaccination campaign in Nepal has been affected due to an insufficient supply of vaccines.</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 has decided to disburse Rs. 961.21 million to federal and private hospitals to purchase HDUs, ventilators, ICUs, and coronavirus control health equipment. </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"">After taking charge of office, Minister Sharma said that prevention and control of corona and free vaccination to all citizens was the priority of the government and directed the staff to work to this effect. Finance Minister Sharma said that the government should move ahead in collaboration with the private sector as there was a need to revive the economy crippled by the pandemic.</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"">Newly-appointed Home Minister Bal Krishna Khand approved Rs 2 million to the District Disaster Management Fund to provide relief to the flood and landslide victims.</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"">Khand said that a decision would be taken after discussing with the experts regarding the implementation of the budget for the fiscal year 2078/79 BS.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13423', 'image' => '20210715115732_adsafd.jpg', 'article_date' => '2021-07-15 11:56:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13679', 'article_category_id' => '1', 'title' => 'Lower Modi 1 Resumes Production of Electricity after a Week', 'sub_title' => '', 'summary' => 'July 15: The production of Lower Modi '1' Hydropower Project, which was halted since July 6 due to the damage caused by flood, has resumed after a week on Sunday.', '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 15: The production of Lower Modi '1' Hydropower Project, which was halted since July 6 due to the damage caused by flood, has resumed after a week on Sunday.</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 flood in Sundarekhola in Dobilla of Kushma Municipality-8 of the district had damaged about 300 meters of canal. The floods in Modikhola had also damaged the source of the hydropower project on the same day. Managing Director of United Modi Hydropower Limited, Upendra Gautam, informed that the production started on Sunday evening after completing the maintenance work.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to him, the 300-meter-long canal, which is four meters wide and four meters high, was completely buried by the sediments of floods in Sundarekhola. The project staff along with 50 other people repaired it.</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"">Gautam informed that 9.5 MW of electricity has been generated since Sunday evening. The project is estimated to have borne a loss of Rs 45 million to Rs 50 million due to the floods. He said that the details of the damage to the source could not be determined as the flow of Modikhola was still high. There was no damage to the production house of the project.</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 site engineer of Lama Construction, a construction company of Mid-Hill highway, Rajaram Acharya and drive Indra Tharu were also swept away by the flood on the same day in Sundarekhola. Although the vehicle has been found, the whereabout of Acharya and Tharu is yet to be known. The flood-damaged Mid-Hill highway has been operating through a single lane.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-07-15', 'modified' => '2021-07-15', 'keywords' => '', 'description' => '', 'sortorder' => '13422', 'image' => '20210715013100_ffff.jpg', 'article_date' => '2021-07-15 13:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13676', 'article_category_id' => '1', 'title' => 'Milk Consumption Only 65% Even After Relaxation of Prohibitory Orders', 'sub_title' => '', 'summary' => 'Though the government has relaxed prohibitory orders imposed to contain the spread of coronavirus, dairy industries say that the consumption of milk and dairy products is yet to pick up. ', 'content' => '<p>July 14: Though the government has relaxed prohibitory orders imposed to contain the spread of coronavirus, dairy industries say that the consumption of milk and dairy products is yet to pick up.</p> <p>According to estimates provided by Dairy Industries Association, consumption of milk and dairy product is only 65 percent of the pre-prohibitory period. <br /> According to the Dairy Industries Association, DDC, Dairy Industries Association and Nepal Dairy Association used to supply 300,000 liters of milk in Kathmandu Valley on a daily basis during the prohibitory period. The supply has increased to 350,000 liters a day after the recent relaxation of the prohibitory orders compared to 700,000 liters per day compared to 7000,000 liters per day before the prohibitory orders were imposed by local administrations in Kathmandu Valley on April 29.<br /> Leaders of dairy industries’ associations blame closure of hotels, restaurants and party palaces for the lower consumption of milk and dairy products in the market. <br /> Though some restaurants and hotels provide takeaway services after the relaxation of prohibitory orders, many are still closed or yet to operate to provide catering or table services. <br /> While the demand for milk used to be 300,000 liters per day in hotels, restaurants and schools alone, the consumption in these sectors have now fallen to zero, said Raj Kumar Dahal, president of the Dairy Industries Association.</p> <p>The market for milk and dairy products is one of the most affected markets by the pandemic. As the pandemic has disrupted the market, dairies and dairy industries across the country have stockpiled powdered milk and butter worth Rs 3 billion. As demands have plummeted, dairy industries are converting their surplus milk into powdered milk and butter.</p> <p>The industrialists and businessmen opted to make milk powder and butter to prevent wastage of the milk due to the fall in the demand. <br /> Fears about the possible third wave of coronavirus have further affected the market and worried us, said Prahlad Dahal, Nepal Dairy Association’s President. <br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13421', 'image' => '20210714055638_Dairy.jpg', 'article_date' => '2021-07-14 17:53:07', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 5 => array( 'Article' => array( 'id' => '13675', 'article_category_id' => '1', 'title' => 'Supreme Court Questions Validity of Budget Introduced Through Ordinance', 'sub_title' => '', 'summary' => 'The Supreme Court has also raised a question on the budget presented by KP Sharma Oli-led government for the upcoming fiscal year 2021/22 through an ordinance.', 'content' => '<p>July 14: <br /> The Supreme Court has also raised a question on the budget presented by KP Sharma Oli-led government for the upcoming fiscal year 2021/22 through an ordinance.<br /> In its ‘landmark’ verdict issued on Monday, the Constitutional Bench of the Supreme Court not only reinstated the House of Representatives, but also said that it was not appropriate to present the estimate of expenditure and revenue through ordinance after the dissolution of the House.</p> <p>The verdict issued by the SC reads that the caretaker government is allowed only to make provisions for mandatory government expenses rather than announcing plans and programs that have long-term implications.</p> <p>Presenting the budget through ordinance without being endorsed through the parliament, the government has promoted a practice that goes against the parliamentary norms, according to the verdict. </p> <p>"If such non-parliamentary practices are continued, they undermine various provisions in the constitution and promote arbitrary behaviour. The dissolution of the House of Representatives only a week before the date meant for the unveiling of the budget program is perceived as a betrayal against the implementation of constitutional provision set by Article 119 (3) of the Constitution of Nepal," reads SC ruling.<br /> Bhimarjun Acharya, a constitutional expert says that the government can bring the budget again through the parliament as the SC has questioned the validity of the budget brought through ordinance. He said that it was wrong on the part of the government to dissolve the parliament abruptly and bring the budget through an ordinance. According to him, the new government can bring the budget from the parliament as the new fiscal year has not started yet.<br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13420', 'image' => '20210714030842_Budget.jpg', 'article_date' => '2021-07-14 15:04:45', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 6 => array( 'Article' => array( 'id' => '13674', 'article_category_id' => '1', 'title' => 'Finance Minister Sharma’s First Decision Authorizes Health Ministry to Spend Rs 5 Billion', 'sub_title' => '', 'summary' => ' Ministry of Finance has approved a file authorizing the Ministry of Health and Population (MoHP) to spend Rs 5 billion for Covid-18 related spending. ', 'content' => '<p>July 14: Ministry of Finance has approved a file authorizing the Ministry of Health and Population (MoHP) to spend Rs 5 billion for Covid-18 related spending. This is the first decision of the newly appointed Minister for Finance Janardan Sharma. <br /> According to the MoF, Finance Minister Sharma approved the file to authorise the MoHP to spend Rs 5 billion on purchase of vaccines against Covid-19, setting up oxygen plant and procurement of HDU, ICU and ventilator. <br /> Finance Minister Sharma also approved another file for the spending on risk allowance for health workers mobilized to fight against Covid-19.<br /> Earlier on Tuesday, Prime Minister Sher Bahadur Deuba had appointed Minister Sharma, a leader of the CPN (Maoist Center), as the new finance minister along with three other new ministers. <br /> </p> ', 'published' => true, 'created' => '2021-07-14', 'modified' => '2021-07-14', 'keywords' => '', 'description' => '', 'sortorder' => '13419', 'image' => '20210714021209_Janardan Sharma.jpg', 'article_date' => '2021-07-14 14:08:54', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '35' ) ), (int) 7 => array( 'Article' => array( 'id' => '13673', 'article_category_id' => '1', 'title' => 'DoR to build Four-lane Flyover at Gwarko ', 'sub_title' => '', 'summary' => 'July 13: The government has decided to expedite the construction of flyovers in the Kathmandu valley with the objective of minimizing traffic congestion.', '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 13: The government has decided to expedite the construction of flyovers in the Kathmandu valley with the objective of minimizing traffic congestion.</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 Department of Roads on Monday issued a tender for the construction of a four-lane flyover at Gwarko.</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"">Only the domestic construction companies of Nepal will be eligible to participate in the bidding process for the constructing the flyover. The company will have to hand over the flyover to the department within the next two years.</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 contract was issued by the Quality Research and Development Center under the department on Monday. </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"">Dr. Bijay Jaishi, director of the center, said that instead of a complex structure like in developed countries, a simple 35 meter bridge will be made and Nepali companies are capable of making such a bridge. So, the tender was issued allowing only Nepali companies to participate. </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 flyover to be constructed in the form of Engineering Procurement Construction (EPC) model should be completed by the company within the given deadline. </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"">“It is a small contract. Nepali construction companies also have good capacity to build bridges,” said Jaishi, “As it is a simple flyover, we are trying to encourage Nepalis.” </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 Kalanki-Koteshwor section of the ring road has been upgraded to eight lanes with the help of the Chinese government. Jaishi said that a four-lane flyover will be constructed in Gwarko under the same road section. Out of the 455-meter long flyover, a 35 meter bridge will be built over the road and vehicles from Mangalbazar (Patan) to Imadol will operate under the bridge. </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 department has already secured source of fund worth Rs 340 million from the Ministry of Finance to build the flyover. Jaishi said that this flyover will be built with the same amount. </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"">Apart from Gwarko, the department also has plans to build flyovers in Sitapaila and Ekantakuna. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13418', 'image' => '20210713090012_road-bridge.jpg', 'article_date' => '2021-07-13 20:58:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13672', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank preparing draft of Monetary Policy', 'sub_title' => '', 'summary' => 'July 13: Nepal Rastra Bank (NRB) is making necessary preparations to draft the monetary policy for the fiscal year 2021/22.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">July 13: Nepal Rastra Bank (NRB) is making necessary preparations to draft the monetary policy for the fiscal year 2021/22. The monetary policy will be unveiled in the third week of July. NRB is currently going through the suggestions provided by dozens of organizations and individuals.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">Narayan Pokharel, Joint Spokesperson of the central bank, informed that the Financial Research Department of NRB has started the preliminary work after studying the suggestions received so far. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif">"The government and private organizations have provided written suggestions while other important suggestions can still be incorporated. We have already started preparations to make the draft of the policy," he said.</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"">Prakash Shrestha, Director of the Department, said the department is preparing the preliminary draft of the policy. The monetary policy will be focused on special loans and interest rates for the revival of the economy that has been battered by Covid-19 pandemic.</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 department prepares a draft based on the suggestions provided by various stakeholders. Then, the draft is discussed with various departments after which, a high level committee of the central bank will discuss the draft of the policy. The committee forwards the draft to the bank's board of directors. The board prepares a final version of the policy which is introduced by the governor of the bank. </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 Shrestha, most of the organizations have sought for the plans to restructure the business after being affected by the second wave of the Covid-19 pandemic. The monetary policy of the fiscal Year 2020/21 had also introduced provisions to boost economic activities. </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"">"All of the enterprises and businesses have been affected by the second wave of the pandemic so findings from various surveys and researches will be taken into consideration while preparing the monetary policy," informed Shrestha.</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"">Recently, the central bank published a survey on the impacts of Covid-19 on the economy. Surveys carried out in different months had provided comparative insights of industries and business during the pandemic. </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"">Since the outbreak of the pandemic, various efforts have been made by NRB to minimize its impacts on the economy. In order to keep the banking and financial services running smoothly and minimize impacts of Covid-19, the central bank conducted various detailed studies. Considering the impacts on tourism, industry, trade, business and financial sectors, various policies have also been implemented for the convenience of all stakeholders.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13417', 'image' => '20210713025441_1626132831.Clipboard03.jpg', 'article_date' => '2021-07-13 14:52:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13671', 'article_category_id' => '1', 'title' => 'Vaccination Resumes from Today', 'sub_title' => '', 'summary' => 'July 13: The government has resumed vaccination drive against coronavirus from today (July 13) after receiving vaccines provided by China and the USA.', '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 13: The government has resumed vaccination drive against coronavirus from today (July 13) after receiving vaccines provided by China and the USA. Under this campaign, vaccination will be given on priority basis. The Ministry of Health and Population is going to start vaccinating people prioritizing the age group of 50 to 60 years, including driver and helpers of public vehicles, university professors, teachers and foreign refugees.</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 deputy spokesperson of the Ministry of Health and Population Dr. Samir Kumar Adhikari, the Chinese Vero Cell vaccine will be given to the people of age group of 55 to 60 years. Also, the same vaccine will be given to the people falling under the age group of 60 to 64 years, university professors, teachers, staff, public transport drivers and helpers.</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"">Adhikari also informed that even if the vaccine is given on priority basis, health workers, security personnel and journalists working in the health sector can get vaccinated at the designated vaccination centers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ministry has decided to administer the Johnson & Johnson vaccine, received from the United States, on Monday to people with complete and severe disabilities, foreign refugees residing in Nepal, and health workers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Ministry of Health and Population has notified that the vaccines are being administered from the previously designated centers. In addition, citizens have been asked to produce documents issued by the government that would disclose their age in order to receive the 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 government purchased 4 million doses of vaccine from China. In the first phase, 800,000 doses of Vero Cell were brought to the country on Friday. Similarly, 1534,850 doses of Johnson & Johnson vaccines arrived in Nepal on Monday under the Covax facility.</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"">Stating that the vaccines purchased from China will arrive in Nepal every week, the Dr Adhikari said that the process is underway to purchase more vaccines. "We are looking for alternatives to the India-made Covishield vaccine," he said, "In addition, initiatives are being taken with other countries to purchase more vaccines."</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"">Till date, 26,11,000 people have been given the first dose of vaccination, whereas 10,41,000 people have already received the second dose of vaccination as well.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13416', 'image' => '20210713023934_1626133196.Clipboard05.jpg', 'article_date' => '2021-07-13 14:38:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13670', 'article_category_id' => '1', 'title' => 'Government Hikes Wages of Tea Estate Farmers Marginally', 'sub_title' => '', 'summary' => 'July 13: The government has fixed the minimum wage of workers employed in tea farms. This provision will come into effect from the upcoming fiscal year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 13: The government has fixed the minimum wage of workers employed in tea farms. This provision will come into effect from the upcoming fiscal year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Ministry of Labour, Employment and Social Security has issued a notice on the Nepal Gazette stating that the minimum wage of workers has been increased by Rs 520 per month.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice issued on Monday (July 12) has instructed stakeholders to implement the new provision from July 16 onwards.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The notice states that the basic salary of the workers of tea farm has been fixed at Rs 7,769 per month. Starting from July 16, the workers of tea farms will get a minimum monthly salary of Rs 12,081. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The daily wage of workers is Rs 435 while the hourly rate is Rs 57 per hour. The daily allowance of workers have been fixed at Rs 55.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman",serif"><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Prior to this, the workers in tea estates were receiving a monthly salary of Rs 11,561 since the beginning of the current fiscal year. The government has increased their salary only marginally. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13415', 'image' => '20210713115547_1626100840.Tea workers.jpg', 'article_date' => '2021-07-13 11:54:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13669', 'article_category_id' => '1', 'title' => 'Nepal is Key Partner of China to jointly Build BRI: Chinese Ambassador ', 'sub_title' => '', 'summary' => 'July 13: Chinese Ambassador to Nepal, Hou Yanqi, has asserted that Nepal is an important partner for China to jointly build the Belt and Road Initiative (BRI).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Arial Unicode MS","sans-serif"">July 13: Chinese Ambassador to Nepal, Hou Yanqi, has reportedly asserted that Nepal is an important partner for China to jointly build the Belt and Road Initiative (BRI). The Chinese envoy added that China-Nepal bilateral cooperation in various fields have made positive progress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ambassador Hou made such statement during an online press conference organized by the Chinese Embassy in Nepal on Monday (July 12), according to the state-owned national news agency (RSS). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"China-aided Kathmandu Durbar High School Reconstruction Project has been completed and handed over to the Nepali side. The pre-feasibility study of the Tokha-Chhahare Tunnel Project has been finished. The construction of Pokhara International Airport and Gautam Buddha International Airport is progressing well. The construction of the third phase of China Aid Araniko Highway Long-term Opening Maintenance Project has been started. Trans-Himalayan multi-dimensional connectivity network is gradually taking shape," RSS quoted Ambassador Hou as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the outbreak of the COVID-19 pandemic, Ambassador Hou said, China has actively carried out international cooperation in the fight against the pandemic, and is committed to ensuring accessibility and affordability of vaccines in developing countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Till date, China has provided over 450 million doses of vaccines to nearly 100 countries including Nepal. The first batch of the vaccines procured by Nepal from China has arrived. I wish those vaccines will play an important role in building an immune firewall for the Nepali people," she shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She added that when China encounters difficulties, developing countries including Nepal also provide support to China within their capabilities, actively speak for China on international and multilateral platforms, resolutely oppose some countries’ smear against China on issues such as human rights and origin-tracing of COVID-19 virus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Just as President Xi Jinping reiterated, China will always be a member of the developing world. No matter how the international situation changes, we will always be a reliable friend and sincere partner of developing countries." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She reiterated that China will remain committed to promoting peace, development, cooperation, and mutual benefit, with an independent foreign policy that promotes peace, and to the path of peaceful development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Chinese Ambassador, the Communist Party of China stands ready to continue to work with political parties and political organizations of all countries including Nepal, RSS added.</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"">She further said that China</span><strong><span style="font-family:"Arial Unicode MS","sans-serif""> aims</span></strong><span style="font-family:"Arial Unicode MS","sans-serif""> to make even greater contributions to the building of a community with a shared future for mankind, high-quality development of BRI and a better world.</span></span></span></p> ', 'published' => true, 'created' => '2021-07-13', 'modified' => '2021-07-13', 'keywords' => '', 'description' => '', 'sortorder' => '13414', 'image' => '20210713104552_20200101120650_aaa.jpg', 'article_date' => '2021-07-13 10:44:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13667', 'article_category_id' => '1', 'title' => 'Supreme Court Reinstates HoR, Orders President to appoint Deuba as new PM by Tomorrow', 'sub_title' => '', 'summary' => 'July 12: The Supreme Court has once again issued a verdict to reinstate the House of Representatives which was dissolved by President Bidya Devi Bhandari upon the recommendation of Prime Minister KP Sharma Oli on May 22.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">July 12</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">: </span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The Supreme Court has once again issued a verdict to reinstate the House of Representatives which was dissolved by President Bidya Devi Bhandari upon the recommendation of Prime Minister KP Sharma Oli on May 22.</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:"Georgia","serif"">In its landmark verdict issued today (July 12), the five-member constitutional bench headed by Chief Justice Cholendra Shumsher JB Rana quashed the decision of President Bhandari to dissolve the lower House and fix the mid-term elections for November.</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:"Georgia","serif"">The constitutional bench’s verdict has not only reinstated the House, but also paved the way for Nepali Congress President Sher Bahadur Deuba to become the upcoming Prime Minister.</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:"Georgia","serif"">In line with the petitioners’ demand, the Constitutional Bench issued a mandamus order to President Bhandari to appoint Nepali Congress President Deuba as the Prime Minister by 5 PM tomorrow (July 13). </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:"Georgia","serif"">With the court’s landmark verdict, Deuba will now succeed Oli as the country’s new Prime Minister.</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:"Georgia","serif"">Stating that incumbent Prime Minister Oli did not complete the process of Article 76 (4) that requires the Prime Minister to win a confidence vote in the House, the Constitutional Bench ruled that President Bhandari’s decision to dismiss Deuba’s claim on the post of Prime Minister was not constitutional.</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:"Georgia","serif"">After President Bhandari rejected both claims of Prime Minister Oli and Nepali Congress President Deuba of having support of majority of lawmakers to form the government as per Article 76 (5), Prime Minister Oli on May 22 had recommended her to dissolve the House and announce mid-term elections for November.</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"">Alt</span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">hough President Bhandari dissolved the House and set mid-term elections for November, the move was immediately challenged at the Supreme Court by 146 lawmakers from the main opposition Nepali Congress and other political parties as well as ruling CPN (UML)’s disgruntled faction led by former Prime Minister Madhav Kumar 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:"Georgia","serif"">The Constitutional Bench of the Supreme Court also ordered President Bhandari to summon the House session within seven days of its verdict. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13413', 'image' => '20210712032647_20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2021-07-12 15:25:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13668', 'article_category_id' => '1', 'title' => 'Himalayan Re-insurance Company gets License for Operation ', 'sub_title' => '', 'summary' => 'July 12: Himalayan Reinsurance Company has received final approval from the Insurance Board to operate its business. The Insurance Board gave the final approval to the company last Thursday for operating its business.', 'content' => '<p>July 12: <span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Himalayan Reinsurance Company has received final approval from the Insurance Board to operate its business. The Insurance Board gave the final approval to the company last Thursday for operating its business.</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:"Georgia","serif"">The board had given in-principle approval for the establishment of the Himalayan Re-insurance Company on May 30. It received the final approval for operation after the private company completed the required process. Chairman of the Insurance Board Surya Prasad Silwal confirmed that the final approval has been given for the operation of the Himalayan Reinsurance Company.</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:"Georgia","serif"">After getting the in-principle approval from the board, the company was registered with the Company Registrar's Office. An investment of Rs 7 billion was also made. Besides, the board has given final approval to the company to conduct business after completing the necessary process including setting up the company's office in Baluwatar and appointing Shekhar Golchha as the chairman of the company.</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:"Georgia","serif"">With the final approval from the Insurance Board, the company is preparing to start its business. Chairman of the company Shekhar Golchha said that the company will be operational within the current fiscal year, i.e. by mid-July. “Necessary preparations have been completed to start a reinsurance business. We will bring the company into operation within the month of July,” said Chairman Golchha.</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:"Georgia","serif"">The company has also written to the Insurance Board on Sunday stating that it will start its business. The Insurance Board is preparing to inspect the company's head office in Baluwatar today (Monday). During the inspection, the company must meet certain policy requirements. A senior official of the board said that the company could come into operation after that.</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:"Georgia","serif"">During the inspection, the company must have fulfilled the required conditions regarding the size of the office, computer software, and staff.</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:"Georgia","serif"">The company is preparing to bring in three high-level manpower, including the chief executive officer, from abroad (India). Employees brought from abroad have to get a work permit from the labor department. The company has already submitted an application to the board for necessary facilitation and approval for the appointment.</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:"Georgia","serif"">Reinsurance is an international business. Himalayan Re-insurance Company has to go to foreign markets to expand its business. That is why the company is saying that it is bringing high-ranking employees from abroad in line with the objective of expanding its business in foreign markets.</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:"Georgia","serif"">Currently, the government-owned Nepal Reinsurance Company is operating in Nepal. A study conducted by the board had earlier found that another reinsurance company was needed in the country. After that, the board started the process of establishing a new reinsurance company in April last year. Five companies had filed application to start the reinsurance business. Out of them, the board decided to give in-principle approval to Himalayan Re-insurance Company.</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:"Georgia","serif"">The other companies that applied were Kathmandu Re-insurance Company, Annapurna Re-insurance Company, Prudential Re-insurance Company, and Genuine Re-insurance Company. </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:"Georgia","serif"">The paid-up capital of Himalayan Re-insurance Company is Rs 10 billion. The institutional investment of the company is Rs 7 billion. The remaining Rs 3 billion will be raised through IPOs, the company said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The main share investor of the company is Jagdamba (Shankar) Group. The board informed that there is an investment of Lucky Group, Dugad Group, and other business houses in the company.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13412', 'image' => '20210712040017_20200630093335_Reinsurance.jpg', 'article_date' => '2021-07-12 15:59:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13666', 'article_category_id' => '1', 'title' => 'Nepal Telecom to Issue its Shares to Customers', 'sub_title' => '', 'summary' => 'July 12: Following the government’s announcement in the budget to issue 22 percent shares of Nepal Telecom to the customers using landline, mobile and internet services, it has initiated preparations to implement the announcement. ', 'content' => '<p>July 12: <span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Following the government’s announcement in the budget to issue 22 percent shares of Nepal Telecom to the customers using landline, mobile and internet services, it has initiated preparations to implement the announcement. </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:"Georgia","serif"">The budget provision allows customers using Nepal Telecom's landline, mobile and internet services till the mid of January 2021, to participate in the purchase share. The Ministry of Finance has started necessary preparations to finanalize the value of the company's share and its distribution process by mid-October. </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:"Georgia","serif"">According to the officials of the Ministry of Finance, Ministry of Communication and Information Technology (MoCIT), Nepal Telecom (NT), they have initiated paperwork to implement the program as announced in the budget. Dirgharaj Mainali, joint secretary of the Ministry of Finance (MoF), informed that it has started necessary homework to implement the programme with new vision though such programs have not been introduced in the past. The company has been formed with the service fee paid by the service seekers so a new model will be finalized to hand over the ownership of the company to customers themselves. </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:"Georgia","serif"">"This issue has already been researched so the government is preparing an action plan to implement this programme. The action plan is being formulated in coordination with the NT, MoCIT, MoF. MoF will be leading this project," said Mainali.</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:"Georgia","serif"">Some provisions need to be added in the Privatization Act to issue shares of NT to the customers. Preparations have been made to add the provisions through a Cabinet decision. There is a privatization committee chaired by the minister, which also includes the secretaries of the concerned ministries. MoF is preparing to take the proposal to the Cabinet after completing the required process as per the Privatization Act.</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:"Georgia","serif"">The Privatization Act does not envision this kind of concept as announced in the budget program. It does not envisage the idea of </span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""></span></span><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">issuing shares to the customers themselves.</span></span> <span style="font-size:12.0pt"><span style="font-family:"Georgia","serif""> Finance ministry officials say there is a need to move forward on the basis of share disinvestment provisions. Discussions have already started between the privatization committee and the Securities Board of Nepal on the model through which the shares will be distributed. </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:"Georgia","serif"">According to MoF sources, the government made this announcement in the budget aiming to increase the number of telecom customers. The government currently owns 92 percent shares of Nepal Telecom and the public hold the ownership of the remaining eight percent of shares. When the public will be issued with additional shares, government's ownership will be reduced to 70 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">MoCIT is also working with the concerned departments for this. Sobhakant Poudel, joint secretary of MoCIT said that the NT board has the full authority to decide on the share ownership of the company. "The budget has already stated about the public shares offering so it will be implemented in time," Poudel 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:"Georgia","serif"">Discussions have been ongoing since the tenure of former MoCIT Minister Gokul Baskota about issuing shares or bringing in a strategic partner. Banskota was against the idea of bringing in a strategic partner. He was of the view to issue shares to the public and expand its customer base.</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:"Georgia","serif"">Nepal Telecom has also made necessary preparations to make the program announced in the budget a success. Dilli Ram Adhikari, managing director of Nepal Telecom, said that the decision would be taken by the board of NT after receiving the draft of the plan from the MoF. Since the budget announcement to issue shares to the public, the company has expedited the task of updating the KYC of the existing customers.</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:"Georgia","serif"">He said that the process will start after the work procedure of appointing share manager will be finalized. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-07-12', 'modified' => '2021-07-12', 'keywords' => '', 'description' => '', 'sortorder' => '13411', 'image' => '20210712025647_20200721022343_1595282477.Clipboard05.jpg', 'article_date' => '2021-07-12 14:55:08', '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
