NEWS

Stakeholders Seek Fair Distribution of Government Advertisements

Jun 22, 2021 0 3 minutes 17 seconds to read

June 22: Business leaders and advertising experts have urged the government to distribute its advertisements equally through one…

Contribution of Small and Cottage Industries Vital for Economy: NRB Governor

Jun 22, 2021 0 1 minutes 22 seconds to read

June 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari stated that small and cottage industries have made significant contribution to the national economy, the state-owned national news agency RSS…

Delta Variant’s Mutation Detected in Nepal

Jun 21, 2021 0 1 minutes 27 seconds to read

June 21: The Delta variant’s mutation of coronavirus has been detected in Nepal.…

As NEPSE Takes a Nosedive, Investors Lose Rs 98 Billion

Jun 21, 2021 0 1 minutes 31 seconds to read

June 21: The Nepal Stock Exchange (NEPSE) suffered a sharp fall on Monday, incurring a loss of Rs 98 billion to the investors.…

Himalayan Reinsurance Company likely to Come into Operation from July 1

Jun 21, 2021 0 3 minutes 46 seconds to read

June 21: The Himalayan Reinsurance Company, which has received approval in principle for the establishment of the company, is making necessary preparation to start its operation from July…

Police Investigating Case of Smuggled Chinese Apples

Jun 21, 2021 0 2 minutes 16 seconds to read

June 21: Police officials in Nepal and India have been suspended after 1,350 cartons of Chinese apples loaded on three Nepali trucks were seized by Indian security forces.…

Water Supply from Melamchi to be Further Delayed

Jun 21, 2021 0 2 minutes 42 seconds to read

June 21: Water supply from Melamchi to Kathmandu will be delayed due to the damage made by the recent…

Government Eases Restrictions, Extends Prohibitory Order by 1 Week

Jun 21, 2021 0 3 minutes 26 seconds to read

June 21: Government authorities have extended prohibitory order in Kathmandu valley by one more week.…

Farmers Selling Paddy at Half the Support Price

Jun 20, 2021 0 3 minutes 8 seconds to read

June 20: Farmers have been forced to sell paddy to traders at half the support price set by the government as the state-owned Food Management and Trading Company Limited (FMTC) did not buy paddy this…

Hydropower Projects Incur Loss of Rs 10 Billion due to Floods: IPPAN

Jun 20, 2021 0 3 minutes 8 seconds to read

June 20: Hydropower projects promoted by the private sector have incurred an estimated loss of Rs 10 billion due to the floods and landslides that occurred in various districts last…

Monsoon Unlikely to Weaken Soon: Meteorologist

Jun 20, 2021 0 1 minutes 13 seconds to read

June 20: Meteorologists have warned that the monsoon that has become active since the last few days will not be weakening immediately.…

Nepal Urges Development Partners to Help Address Investment Gaps

Jun 20, 2021 0 1 minutes 50 seconds to read

June 20: Deputy Prime Minister (DPM) and Minister for Foreign Affairs Raghubir Mahaseth has said that Nepal’s graduation from the LDC category would be an important milestone in the country’s development trajectory.…

Nepal’s deposits in Swiss banks fourth largest among South Asian nations

Jun 19, 2021 0 2 minutes 31 seconds to read

Funds deposited by Nepali individuals and firms in Swiss banks more than doubled to 360.82 million Swiss Francs in…

Nepal Receives 982 Oxygen Concentrators Financed by World Bank

Jun 19, 2021 0 1 minutes 32 seconds to read

Nepal received 982 units of 10-liter oxygen concentrators, financed by the World Bank…

Govt Urged to Create Legal Framework Within One Year to Secure Cyberspace

Jun 19, 2021 0 55 seconds to read

Federation of Computer Association of Nepal, Center for Cyber Security Research and Innovation and Information Security Response Team Nepal have jointly urged the government to prepare legal and regulatory framework for secure cyberspace within a year and build organizational structure and infrastructure required for it within six…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'title' => 'Stakeholders Seek Fair Distribution of Government Advertisements ',
			'sub_title' => '',
			'summary' => 'June 22: Business leaders and advertising experts have urged the government to distribute its advertisements equally through one basket.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 22: Business leaders and advertising experts have urged the government to distribute its advertisements equally through one basket.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Stating that the government is one of the major advertisers in the country, experts expressed concerns over the lack of transparent, competitive and fair process to distribute the government&rsquo;s advertisements. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Speaking at a programme organized on June 21 by the Advertising Association of Nepal (AAN) to mark its 31<sup>st</sup> anniversary, advertising experts also expressed the need for a national advertising policy, expansion of the advertising market and the code of conduct to monitor the advertising market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Shubha Shankar Kandel, chairman of Nepal Media Society, said that all advertisements should be brought together under one basket and distributed among different media equally. He further said the advertising market lacks a fair, transparent competitive environment and customers are not getting the right information about the quality of products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, Laxman Humagain, president of the Advertisement Board, said that a national advertising policy and code of conduct should be formulated on what kind of advertisement should be produced and the rights of customers to be informed with genuine information about the quality of product. He stated that a prosperous advertising market requires the development of industries. Advertising is the indicator of industrialization and the standard of life of people.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Jyoti Baniya, chairperson of Consumer Welfare Protection Forum, the target group of advertising market is the customers of the product so the practice of developing advertising content with false claims should be monitored.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Shekhar Golchha, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said advertising is the medium to connect with the customers. Without advertisements, all the products and brands would look similar and wouldn&#39;t be able to compete, said Golchha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">On the other hand, Bhaskar Raj Rajkarnikar, chairman of Media Alliance Nepal, said that the quality of the content of advertisement determines the expansion of the advertising market. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Good contents attract investors and the advertising players will also follow suit,&rdquo; he said. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Som Prasad Dhital, president of the Advertising Association of Nepal (AAN), stated that the advertising market has created job opportunities for 33,000 people and this number should be maintained with the collaboration among the media and the Advertisement Board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Contribution of Small and Cottage Industries Vital for Economy: NRB Governor ',
			'sub_title' => '',
			'summary' => 'June 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari stated that small and cottage industries have made significant contribution to the national economy, the state-owned national news agency RSS reported.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 22: Nepal Rastra Bank&rsquo;s (NRB) Governor Maha Prasad Adhikari stated that small and cottage industries have made significant contribution to the national economy, the state-owned national news agency RSS reported.</span><br />
&nbsp;<span style="font-family:&quot;Arial Unicode MS&quot;">During a virtual interaction with the officials of the Federation of Nepali Cottage and Industries on Monday, Governor Adhikari said, &quot;There are a lot of small and mid-scale industries which contribute much to the country&#39;s economy.&quot; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, Governor Adhikari said that NRB has kept this sector in priority list in its policy, and also asserted that the monetary policy of the current fiscal year was intended to bring historic change.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the occasion, Chairman of the Federation Shyam Giri demanded the Governor to exempt the interest of loan during the lockdown period. He further said the refinancing work procedure should be re-written in case of small industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Former Chairpersons of the Federation, Suresh Pradhan and Lata Pyakurel and senior Vice Chairperson Umesh Prasad Singh, among others urged the NRB to pay heed to the demands of the small-scale and cottage industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;&nbsp; </span></span></span></p>
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			'id' => '13567',
			'article_category_id' => '1',
			'title' => '     Delta Variant’s Mutation Detected in Nepal ',
			'sub_title' => '',
			'summary' => 'June 21: The Delta variant’s mutation of coronavirus has been detected in Nepal.   ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">June 21: The Delta variant&rsquo;s mutation of coronavirus has been detected in Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Ministry of Health and Population, the mutated forms of the Delta variant were confirmed in nine samples while conducting gene sequencing in New Delhi, India.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Deputy-Spokesperson at the Ministry Dr Samir Adhikari shared that among the 47 Delta variants confirmed during the gene sequencing, nine new K417 N mutations were detected and have been named AY.1.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Cases of AY.1 have been detected in 10 countries including Nepal, according to the Ministry. PCR samples collected from various countries and from various age group were collected in mid-June and were sent to India for gene sequencing.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">So far, Alfa (B.1.1.7), Delta (B.1.617.2), Kappa (B.1.617.1) variants have been detected in Nepal, said Spokesperson at the Ministry Dr Krishna Poudel, adding that the Delta variant is highly contagious and dangerous. </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry has urged one and all to comply with the health safety protocols to prevent infection from the new mutated form of the Delta variant of novel coronavirus. -- RSS&nbsp; </span></span></span></span></p>
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			'id' => '13566',
			'article_category_id' => '1',
			'title' => ' As NEPSE Takes a Nosedive, Investors Lose Rs 98 Billion ',
			'sub_title' => '',
			'summary' => 'June 21: The Nepal Stock Exchange (NEPSE) suffered a sharp fall on Monday, incurring a loss of Rs 98 billion to the investors. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">June 21: <span style="font-family:&quot;Arial Unicode MS&quot;">The Nepal Stock Exchange (NEPSE) suffered a sharp fall on Monday, incurring a loss of Rs 98 billion to the investors.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The NEPSE index closed at 2,834.40 points with a fall by 71.06 points, according to the state-owned national news agency RSS. The total market capitalization was reduced to Rs 3937.67 billion on Monday against the market capitalization of Rs 4036.39 billion on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, the sensitive index to measure the big companies&rsquo; trading decreased by 8.37 points and closed at 520.18 points. According to NEPSE, more than 22.52 million unit shares of 227 companies were traded at Rs 11.61 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">All 13 sectors suffered loss with banking sector losing 34.22 points, trade sector (29.63 points), hotel and tourism (165.84 points), development banks (210.21 points), hydropower (150.24 points) and finance (120.22 points).&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the basis of trading volume, Nepal Reinsurance Company (NRIC) stood atop the list for trading the company&rsquo;s shares worth Rs 1.30 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Amid the freefall of NEPSE, the shares of Narayani Development Bank, Hydroelectricity Investment and Development Company Limited (HIDCL), NBBL Debenture, SBL Debenture and NABIL Bond 2082 increased in the market.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Pokhara Finance, Universal Power, Union Hydropower, Himal Dolakha Hydropower and Liberty Energy remained the top losers in the share market.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
',
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			'id' => '13565',
			'article_category_id' => '1',
			'title' => 'Himalayan Reinsurance Company likely to Come into Operation from July 1',
			'sub_title' => '',
			'summary' => 'June 21: The Himalayan Reinsurance Company, which has received approval in principle for the establishment of the company, is making necessary preparation to start its operation from July 1.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 21: The Himalayan Reinsurance Company, which has received approval in principle for the establishment of the company, is making necessary preparation to start its operation from July 1. The insurance company had received approval in principle from the Insurance Board for the establishment of the company in the first week of June. The founders are preparing to operate the company within July after completing all the necessary processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">After receiving the approval, the Himalayan Reinsuirance Company has been registered with the Company Registrar&#39;s Office. In addition, equity investment (Rs. 7 billion) has also been raised for institutional investment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The office of the company has been established in Baluwatar. Shekhar Golchha has been appointed as the chairman of the company. Entrepreneur Pashupati Murarka, one of the founding investors, said that an application has already been submitted to the Insurance Board seeking permission to operate the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We have already submitted application to the Insurance Board for the final approval. The process is almost complete,&rdquo; Muraraka said, adding, &ldquo;Overall, we are preparing to bring the company into operation from July 1.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;Murarka is confident that the final approval to operate the company will be received from the Insurance Board within a week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Executive Director of the Insurance Board Rajuraman Poudel also said that preparations are underway to give final approval to Himalayan Reinsurance Company. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Once the approval in principle is given, there is no problem in giving final approval. We have received information that the company has raised capital,&rdquo; said Poudel, adding, &ldquo;We will give the final approval to the company soon.&quot;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The paid-up capital of this privately owned company is Rs 10 billion. Institutional investment is Rs 7 billion. The remaining Rs 3 billion will be raised through IPOs, Murarka said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The main share investor of the company is Jagdamba (Shankar) Group. Likewise, the outgoing president of the Federation of Nepalese Chambers of Commerce and Industry Bhawani Rana, current president Shekhar Golchha, former president of the federation Pashupati Murarka, businessman Shahil Agrawal and other individuals and various business houses will have their stakes in the reinsurance company. The Board said that Lucky Group, Dugad Group, and other business houses have also invested in the Himalaya Reinsurance Company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Currently, the state-owned Nepal Reinsurance Company is the only reinsurance company operating in Nepal. A study committee formed by the Insurance Board had also shown the need for an additional reinsurance company. The Board then proceeded with the process of establishing a new reinsurance company owned by the private sector. Five companies had applied for establishing the proposed reinsurance company. Out of them, the Insurance Board decided to give approval in principle to Himalayan Reinsurance. Other companies that had filed applications were Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company and Genuine Reinsurance Company. According to the Board, the Himalayan Reinsurance received the approval in principle as it met the evaluation requirements based on the prescribed criteria.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13564',
			'article_category_id' => '1',
			'title' => 'Police Investigating Case of Smuggled Chinese Apples',
			'sub_title' => '',
			'summary' => 'June 21: Police officials in Nepal and India have been suspended after 1,350 cartons of Chinese apples loaded on three Nepali trucks were seized by Indian security forces. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 21: Police officials in Nepal and India have been suspended after 1,350 cartons of Chinese apples loaded on three Nepali trucks were seized by Indian security forces. After seizing the apples that are banned in India, it has been revealed that the apples were being smuggled to India in collusion with police.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Four Nepal border police personnel and Indian border police have been suspended after three trucks with apples were seized in Birpur, India five days ago.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Three Nepali trucks parked inside a brick kiln in Birpur, India are now under the control of the Indian SSB. A total of 34 Nepal Police personnel from the border police post and area police office, have been called to the District Police Office, Sunsari, from their workplaces on the charge of smuggling Chinese apples to India. Similarly, 15 security personnel of the Armed Police Force have been called from their workplace.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Nepal Police and APF have formed separate committees led by SSP and started investigation after the trucks reached India from Laukahi border of Sunsari under the protection of Sunsari Police.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson and SP of provincial police office Biratnagar, Mahendra Kumar Shrestha informed that a five-member investigation committee has been formed under the coordination of SSP Rajendra Prasad Chaudhary of the Federal Police Unit Office Dharan. The investigation committee consists of DSP Laxmi Bhandari, Inspector Mohan Rayamajhi and three other junior police officers.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">DIG of Armed Police Force Banshi Raj Dahal said that a three-member investigation committee has been formed under the leadership of SSP Prakash Thapa and DSP Navin Bogati of APF No.1 Brigade Headquarters, Sunsari. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The team has started investigation on whose involvement the apples reached India from the checkpoint,&rdquo; said Dahal, &ldquo;Based on the report given by the investigation team, we will take appropriate action.&rdquo;&nbsp;</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13563',
			'article_category_id' => '1',
			'title' => 'Water Supply from Melamchi to be Further Delayed',
			'sub_title' => '',
			'summary' => 'June 21: Water supply from Melamchi to Kathmandu will be delayed due to the damage made by the recent flood.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 21: Water supply from Melamchi to Kathmandu will be delayed due to the damage made by the recent flood. On July 20, the Melamchi Water Supply Project had halted water supply to Kathmandu for two months to inspect and test the tunnel.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">However, the damage caused by the flood of last Tuesday is likely to further delay the water supply to the valley.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The flood had caused extensive damage at Ambathan, the main dam site of the Sindhupalchok-based project. The Melamchi Water Supply Board had earlier issued a notice that Melamchi water would not be distributed in Kathmandu till mid-August for tunnel testing and inspection. It has been decided that there will be no water for a few more months after the project site was damaged due to floods and landslides in Melamchi with the onset of the monsoon.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson of the board Rajendra Prasad Pant said that it is not possible to supply the water on the scheduled date due to the post-flood situation. He said that water can be supplied after a few months of the scheduled time with the help of the Department of Roads, the Nepal Army, and local stakeholders.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;The amount of time it takes to repair the damaged infrastructures like roads, camps, bridges at the project site will determine the amount of water supply,&quot; Pant said.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He informed that the affected areas could not be reached due to the rising water level of the river. Project officials are preparing to visit the project site on Monday. &quot;Efforts have been made to repair the flood-damaged road from Melamchi Bazaar. We have not been able to reach there,&quot; Pant said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He said that the details could not be obtained. The access road from Melamchi Bazaar to the project site is 21 kilometers away.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">About half of the road needs to be repaired. With construction materials as well as equipment and camps flooded, it is unlikely that water will be distributed in the valley on time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The board has collaborated with various agencies to start the road maintenance work from Melamchi Bazaar.</span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '13562',
			'article_category_id' => '1',
			'title' => 'Government Eases Restrictions, Extends Prohibitory Order by 1 Week',
			'sub_title' => '',
			'summary' => 'June 21: Government authorities have extended prohibitory order in Kathmandu valley by one more week. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 21: Government authorities have extended prohibitory order in Kathmandu valley by one more week. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the chief district officers of Kathmandu, Lalitpur and Bhaktapur took a decision to this effect on Sunday (June 21). With the latest decision, the prohibitory order will remain in force till June 28. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Despite the extension of the prohibitory order, the government has eased the restrictions and partially opened certain sectors.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Private vehicles as well as taxis will be allowed to operate from tomorrow as per the odd-even rule. However, four-wheelers will be allowed to carry a maximum of three passengers.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Although the authorities have allowed to operate vehicles inside the valley, security forces have been instructed to take strict measures at entry points of the valley. Except for ambulance and vehicles of security forces as well as those carrying essential goods and the ones with passes, other vehicles will not be allowed entry into the valley. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The meeting has also decided people to move freely in the valley by maintaining physical&nbsp; distance.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to CDO of Kathmandu Kali Prasad Parajuli, certain week days have been marked for different categories of shops to operate from 11 in the morning to 4 in the evening. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">However, the opening time of shops selling milk and vegetables, fruits, meat shops as well as grocery stores, stationery shops has not been changed. Those shops will be allowed to open daily till 11 am. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, departmental stores, shopping malls, ready-made garment shops, fancy dress stores, gift shops and tailoring shops will be allowed to open on Monday, Wednesday and Friday.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, jewelry shops as well as shops selling utensils, automobile spare-parts and showrooms, mobile shops among others will be allowed to open on Sunday, Tuesday and Thursday. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Likewise, shops selling construction materials and hardware stores, furniture shops, electric shops will be open from 11 am to 6 pm while online delivery and workshops will be allowed till 7 pm.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, ban on roadside vendors will remain in force considering the risk of spreading coronavirus from footpath stalls.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Schools, party palaces, cinema halls, dance bar, saloons, beauty parlours, libraries, gyms, museums and zoo will remain closed during this period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The prohibitory order has remained in force since April 29 following the outbreak of second wave of coronavirus in the country.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13560',
			'article_category_id' => '1',
			'title' => 'Farmers Selling Paddy at Half the Support Price',
			'sub_title' => '',
			'summary' => 'June 20: Farmers have been forced to sell paddy to traders at half the support price set by the government as the state-owned Food Management and Trading Company Limited (FMTC) did not buy paddy this year.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 20: Farmers have been forced to sell paddy to traders at half the support price set by the government as the state-owned Food Management and Trading Company Limited (FMTC) did not buy paddy this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government had set the minimum support prices with the aim to support the farmers. The government had fixed the price of medium paddy at Rs 2,885 per quintal and coarse paddy at Rs 2,735 per quintal for the fiscal year 2077/78. However, as the company has not shown any interest in purchasing paddy, the farmers say that they have to sell paddy at Rs 1,400 to Rs 1,500 per quintal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Bhubaneswar Yadav, a Sunsari-based farmer, expressed his dissatisfaction as he had to sell his paddy at Rs 1,500 per quintal. He says that the government has fooled them in the name of support price. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We had harvested paddy in such a large quantity with the hope that we will get a reasonable price as the government had fixed the minimum support price. But after selling the paddy in such a throw-away price, our hard work has gone in vain,&rdquo; he told New Business Age.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similar is the situation of other farmers like Yadav. Agni Aryal, coordinator of Rajaur Paddy Superzone, said that although the production of paddy has been good in Bardiya this year, the farmers have not been able to get a fair price. According to him, the farmers of Bardiya are selling paddy at Rs 1,400 per quintal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The Ministry of Agriculture and Livestock Development informed that out of the total cultivable land of 1.35 million hectares, paddy has been cultivated in more than 100,000 hectares of land in Sunsari, Morang, Jhapa, Bara, Parsa, Sarlahi, Chitwan, Dang, Banke, Bardiya and Kailali districts this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the ministry, the state-owned company has not been able to buy paddy from the farmers as the procurement target of the government is already met. Information officer of FMTC Sharmila Neupane Subedi also said that they cannot buy paddy as the target has already been met.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The company had initially set a target of purchasing 60,000 metric tons of paddy for the fiscal year 2077/78. However, as the quantity could not be procured, the target was revised to 34,700 metric tons. The target has been reduced as the minimum support price set by the government is higher than the market price and the company has to bear loss when they have to sell paddy at the subsidized price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '13561',
			'article_category_id' => '1',
			'title' => 'Hydropower Projects Incur Loss of Rs 10 Billion due to Floods: IPPAN',
			'sub_title' => '',
			'summary' => 'June 20: Hydropower projects promoted by the private sector have incurred an estimated loss of Rs 10 billion due to the floods and landslides that occurred in various districts last week.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 20: Hydropower projects promoted by the private sector have incurred an estimated loss of Rs 10 billion due to the floods and landslides that occurred in various districts last week. A preliminary study conducted by the Independent Power Producers&rsquo; Association of Nepal (IPPAN) has estimated the loss at around Rs 10 billion.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Krishna Prasad Acharya, chairman of IPPAN, claimed that the floods have caused a loss of Rs 10 billion to hydropower projects operated by the private sector. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Our preliminary study has pointed to the damage of this scale,&rdquo; he told New Business Age, adding, &quot;We have demanded the government to form a high-level mechanism to study the losses caused by the floods.&quot;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Hydropower projects have been badly affected by last week&#39;s floods and landslides. Particularly, the under-construction projects have been more affected. Projects have suffered damages like sweeping away of construction materials, inundation of power house and destruction of dam. Similarly, transmission line towers have collapsed and roads connecting to the project area have been destroyed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to IPPAN , 42 MW Supermardi Hydropower Project being constructed in Kaski has incurred significant damage. Acharya said that most of the construction materials have been washed away by the floods. Along with the formation of high-level mechanism to study into the details of loss incurred, IPPAN has also sought for appropriate relief packages to the affected projects.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement on Friday, June 18, IPPAN has urged the government to set up a high-level mechanism. IPPAN has demanded to form the committee representing the ministries of finance, energy and home affairs. Acharya said that the committee should also have representation from private energy producers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that appropriate relief should be distributed after studying the extent of the damage incurred. &quot;This time, the damage incurred is not minimal. If the loss amounted to two to four million rupees, we could have handled it. But the loss amounts to billions. So the government needs to bring necessary relief package for the affected projects.&quot;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to IPPAN, the under-construction projects might be delayed by at least one year due to the loss incurred. The relief packages should also address this issue. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">IPPAN has also demanded immediate reconstruction of the destroyed roads leading to the project site and repair of transmission lines damaged by the floods.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13559',
			'article_category_id' => '1',
			'title' => 'Monsoon Unlikely to Weaken Soon: Meteorologist',
			'sub_title' => '',
			'summary' => 'June 20: Meteorologists have warned that the monsoon that has become active since the last few days will not be weakening immediately. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 20: Meteorologists have warned that the monsoon that has become active since the last few days will not be weakening immediately. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to meteorologist at the Department of Hydrology and Meteorology, Shanti Kandel, the monsoon is not likely to weaken anytime soon since it has become active from the very beginning this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;The influence of monsoon will remain for still some more days. Therefore, the trend of rainfall will continue for few more days,&quot; the state owned national news agency RSS quoted Kandel as saying.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, meteorologist Kandel said that the impact of the monsoon wind will however weaken after some days. It has been raining continuously due to the monsoon that has become active three days before the usual date this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Meteorology said the weather will remain partly to generally cloudy throughout the country with light rainfall and possibility of thunder on Sunday (today) and Monday (June 21).</span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13558',
			'article_category_id' => '1',
			'title' => 'Nepal Urges Development Partners to Help Address Investment Gaps ',
			'sub_title' => '',
			'summary' => 'June 20: Deputy Prime Minister (DPM) and Minister for Foreign Affairs Raghubir Mahaseth has said that Nepal’s graduation from the LDC category would be an important milestone in the country’s development trajectory.     ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 20: Deputy Prime Minister (DPM) and Minister for Foreign Affairs Raghubir Mahaseth has said that Nepal&rsquo;s graduation from the LDC category would be an important milestone in the country&rsquo;s development trajectory.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Addressing the &lsquo;Joint Thematic Event of the UN General Assembly and Economic and Social Council on Least Developed Countries&rsquo; through a pre-recorded video on Saturday (June 19), DPM Mahaseth expressed Nepal&rsquo;s commitment to make the graduation process smooth and sustainable by mobilizing finance from public as well as private sectors, and internal as well as external sources.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">DPM Mahaseth stressed that the development partners need to live up to their financing commitments to help address the investment gaps in the LDCs. He also called for international community&rsquo;s support in line with the LDCs&rsquo; development needs, including in the areas of productive capacity, infrastructure, energy, and connectivity.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Referring to the unrealized target of the Istanbul Programme of Action to enable graduation of half of the LDCs, he underlined the need to scale up collective action to match the collective ambition. The foreign minister further stressed that the United Nations Fifth Conference on the LDCs to be held in Doha in January 2022 must be a conference of hope offering adequate financing and means of implementation to ensure that the LDCs will not be left behind.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The thematic event was jointly organized under the theme of &lsquo;Diversifying the Financing Toolbox to Enhance Investment in Least Developed Countries&rsquo; by the President of General Assembly and the President of ECOSOC at UN Headquarters, New York. A number of Ministers and high-level participants attended the event, according to the Permanent Mission of Nepal to the United Nations. -- RSS&nbsp;&nbsp; </span></span></span></p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '13557',
			'article_category_id' => '1',
			'title' => 'Nepal’s deposits in Swiss banks fourth largest among South Asian nations',
			'sub_title' => 'As Nepal has banned transfer of money abroad, the money held by Swiss banks could have been transferred ‘illegally’',
			'summary' => 'Funds deposited by Nepali individuals and firms in Swiss banks more than doubled to 360.82 million Swiss Francs in 2020.',
			'content' => '<p><strong>Sagar Ghimire</strong></p>

<p>Kathmandu, June 19: Funds deposited by Nepali individuals and firms in Swiss banks more than doubled to 360.82 million Swiss Francs (over Rs 46.18 billion in today&rsquo;s exchange rate) in 2020, making Nepal the fourth largest depositor of cash in Switzerland among South Asian countries.</p>

<p>Nepalis have never parked such a huge amount of money in Swiss banks in the last 25 years, shows the 2020 report of the Swiss National Bank (SNB), the Swiss central bank. Deposits of Nepalis in Swiss banks stood at 175.9 million Swiss Francs (CHF) (nearly Rs 22.51 billion) in 2019. That amount jumped 105.2 percent in 2020 to reach CHF 360.8 million. The amount parked by Nepalis is fourth largest among South Asian countries, after India (CHF 2.6 billion), Pakistan (CHF 642.3 million) and Bangladesh (CHF 562.9 million).<img alt="" src="/app/webroot/userfiles/images/Nepali%20Deposits%20in%20Swiss%20Banks.JPG" style="float:right; height:275px; width:450px" /></p>

<p>Since Nepal&rsquo;s laws and regulations bar the citizens and companies from transferring funds abroad without the central bank&rsquo;s approval, officials believe that the deposits in Swiss banks&mdash;referred by the Swiss central bank as &lsquo;liabilities of its banks&rsquo; to Nepali clients&mdash;could have been transferred illegally.&nbsp;</p>

<p>The data of the Swiss central bank shows that Nepalis&rsquo; deposits had fallen 29 percent in 2019 from CHF 248.79 million (Rs 32.85 billion) in 2018.</p>

<p>As Swiss banks maintain highest degree of secrecy of their clients, it is not clear who these Nepali individuals or firms are and how they managed to park their funds in Switzerland.</p>

<p>Switzerland has long been perceived as one of the most preferred safe havens for many individuals and firms from across the world to stash their funds.</p>

<p>Such secrecy could also make it vulnerable to abuse of the banking system to park ill-gotten money by launderers or criminals, according to experts.&nbsp;</p>

<p>Switzerland has ranked third in Financial Secrecy Index of 133 jurisdictions in 2020 by The Tax Justice Network.</p>

<p>Switzerland, however, has been dismissing such concerns, claiming that it is always committed to the integrity of the global financial system and to abiding by international transparency standards.</p>

<p>Officials at the Nepal Rastra Bank (NRB)&mdash;the central regulatory bank of Nepal&mdash;say that they are unaware about the SNB&rsquo;s recently released data.</p>

<p>&ldquo;I cannot comment on the case that you are referring to. However, what I can say is that Nepali citizens and firms are not allowed to &nbsp;send money abroad except in certain conditions like to import goods through the use of letters of credit or to repatriate dividend provided by businesses operated by foreign investors in Nepal,&rdquo; said Neelam Dhungana Timsina, a deputy governor at the NRB. &ldquo;We do not have capital account convertibility. So, we do not allow overseas fund transfers easily,&rdquo; added NRB Deputy Governor Timsina who oversees Foreign Exchange Management Department at the central bank.</p>
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			'id' => '13556',
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			'title' => 'Nepal Receives 982 Oxygen Concentrators Financed by World Bank ',
			'sub_title' => '',
			'summary' => 'Nepal received 982 units of 10-liter oxygen concentrators, financed by the World Bank today.',
			'content' => '<p>June 19: &nbsp;Nepal received 982 units of 10-liter oxygen concentrators, financed by the World Bank today.</p>

<p>Issuing a statement on Saturday, the World Bank said that the concentrators are part of a long-term solution for augmenting Nepal&rsquo;s capacities to supply therapeutic oxygen to public health facilities towards a stronger response to the COVID-19 pandemic.</p>

<p>&ldquo;I am very pleased that we have been able to quickly bring in the oxygen concentrators, which will be dispatched to health facilities of greatest need across all seven provinces of the country,&rdquo; the statement quoted Sher Bahadur Tamang, Minister of Health and Population, as saying. &ldquo;The government is working hard to strengthen availability of medical oxygen in all the public health facilities of Nepal, such that every Nepali citizen requiring oxygen is able to access it.&rdquo;</p>

<p>According to the statement, the oxygen concentrators were procured through United Nations Office for Project Services (UNOPS) under the World Bank-financed COVID-19 Emergency Response and Health Systems Preparedness Project, which has also financed seven oxygen generation plants, one for each province in Nepal.&nbsp;</p>

<p>These plants will be brought in, installed and operationalized by UNOPS in a phased manner in seven provincial hospitals, in the next 6-15 weeks, said the statement.</p>

<p>&nbsp;&ldquo;The World Bank has made available $104 million to support Nepal&rsquo;s immediate health response to the pandemic, including the procurement of life-saving COVID-19 vaccines, and strengthening the country&rsquo;s health systems and preparedness,&rdquo; the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka, as saying. &ldquo;We are committed to support Nepal and Nepalis during this crisis, and by joining forces with the government and development partners, we have been able to have more impact.&rdquo;</p>
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			'article_date' => '2021-06-19 15:00:51',
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			'id' => '13555',
			'article_category_id' => '1',
			'title' => 'Govt Urged to Create Legal Framework Within One Year to Secure Cyberspace ',
			'sub_title' => '',
			'summary' => 'Federation of Computer Association of Nepal, Center for Cyber Security Research and Innovation and Information Security Response Team Nepal have jointly urged the government to prepare legal and regulatory framework for secure cyberspace within a year and build organizational structure and infrastructure required for it within six months',
			'content' => '<p>June 19:&nbsp;Federation of Computer Association of Nepal, Center for Cyber Security Research and Innovation and Information Security Response Team Nepal have jointly urged the government to prepare legal and regulatory framework for secure cyberspace within a year and build organizational structure and infrastructure required for it within six months.</p>

<p>While submitting the suggestions over draft of National Cyber Security Policy 2021, they have asked the government to maintain the legal and organizational requirements for sensitive issues like cybersecurity at the earliest.&nbsp;</p>

<p>The draft has set a target of having a regulatory and legal framework for reliable, secure and resilient cyberspace in three years setting up organizational structures and infrastructures in five years.<br />
A delegation team of representatives from these three organizations met Hari Prasad Basyal, Secretary of Ministry for Communication and Information Technology, and suggested formulating laws &nbsp;to control the cyber crime, strengthen cyber security in provincial and central level.</p>

<p>They have also suggested making use of free and accessible digital signatures mandatory for &nbsp;government, non-government and private organizations.&nbsp;</p>
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			'id' => '13568',
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			'title' => 'Stakeholders Seek Fair Distribution of Government Advertisements ',
			'sub_title' => '',
			'summary' => 'June 22: Business leaders and advertising experts have urged the government to distribute its advertisements equally through one basket.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 22: Business leaders and advertising experts have urged the government to distribute its advertisements equally through one basket.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Stating that the government is one of the major advertisers in the country, experts expressed concerns over the lack of transparent, competitive and fair process to distribute the government&rsquo;s advertisements. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Speaking at a programme organized on June 21 by the Advertising Association of Nepal (AAN) to mark its 31<sup>st</sup> anniversary, advertising experts also expressed the need for a national advertising policy, expansion of the advertising market and the code of conduct to monitor the advertising market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Shubha Shankar Kandel, chairman of Nepal Media Society, said that all advertisements should be brought together under one basket and distributed among different media equally. He further said the advertising market lacks a fair, transparent competitive environment and customers are not getting the right information about the quality of products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, Laxman Humagain, president of the Advertisement Board, said that a national advertising policy and code of conduct should be formulated on what kind of advertisement should be produced and the rights of customers to be informed with genuine information about the quality of product. He stated that a prosperous advertising market requires the development of industries. Advertising is the indicator of industrialization and the standard of life of people.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Jyoti Baniya, chairperson of Consumer Welfare Protection Forum, the target group of advertising market is the customers of the product so the practice of developing advertising content with false claims should be monitored.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Shekhar Golchha, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said advertising is the medium to connect with the customers. Without advertisements, all the products and brands would look similar and wouldn&#39;t be able to compete, said Golchha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">On the other hand, Bhaskar Raj Rajkarnikar, chairman of Media Alliance Nepal, said that the quality of the content of advertisement determines the expansion of the advertising market. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Good contents attract investors and the advertising players will also follow suit,&rdquo; he said. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Som Prasad Dhital, president of the Advertising Association of Nepal (AAN), stated that the advertising market has created job opportunities for 33,000 people and this number should be maintained with the collaboration among the media and the Advertisement Board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Contribution of Small and Cottage Industries Vital for Economy: NRB Governor ',
			'sub_title' => '',
			'summary' => 'June 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari stated that small and cottage industries have made significant contribution to the national economy, the state-owned national news agency RSS reported.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 22: Nepal Rastra Bank&rsquo;s (NRB) Governor Maha Prasad Adhikari stated that small and cottage industries have made significant contribution to the national economy, the state-owned national news agency RSS reported.</span><br />
&nbsp;<span style="font-family:&quot;Arial Unicode MS&quot;">During a virtual interaction with the officials of the Federation of Nepali Cottage and Industries on Monday, Governor Adhikari said, &quot;There are a lot of small and mid-scale industries which contribute much to the country&#39;s economy.&quot; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, Governor Adhikari said that NRB has kept this sector in priority list in its policy, and also asserted that the monetary policy of the current fiscal year was intended to bring historic change.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the occasion, Chairman of the Federation Shyam Giri demanded the Governor to exempt the interest of loan during the lockdown period. He further said the refinancing work procedure should be re-written in case of small industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Former Chairpersons of the Federation, Suresh Pradhan and Lata Pyakurel and senior Vice Chairperson Umesh Prasad Singh, among others urged the NRB to pay heed to the demands of the small-scale and cottage industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;&nbsp; </span></span></span></p>
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			'title' => '     Delta Variant’s Mutation Detected in Nepal ',
			'sub_title' => '',
			'summary' => 'June 21: The Delta variant’s mutation of coronavirus has been detected in Nepal.   ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">June 21: The Delta variant&rsquo;s mutation of coronavirus has been detected in Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Ministry of Health and Population, the mutated forms of the Delta variant were confirmed in nine samples while conducting gene sequencing in New Delhi, India.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Deputy-Spokesperson at the Ministry Dr Samir Adhikari shared that among the 47 Delta variants confirmed during the gene sequencing, nine new K417 N mutations were detected and have been named AY.1.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Cases of AY.1 have been detected in 10 countries including Nepal, according to the Ministry. PCR samples collected from various countries and from various age group were collected in mid-June and were sent to India for gene sequencing.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">So far, Alfa (B.1.1.7), Delta (B.1.617.2), Kappa (B.1.617.1) variants have been detected in Nepal, said Spokesperson at the Ministry Dr Krishna Poudel, adding that the Delta variant is highly contagious and dangerous. </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry has urged one and all to comply with the health safety protocols to prevent infection from the new mutated form of the Delta variant of novel coronavirus. -- RSS&nbsp; </span></span></span></span></p>
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			'article_category_id' => '1',
			'title' => ' As NEPSE Takes a Nosedive, Investors Lose Rs 98 Billion ',
			'sub_title' => '',
			'summary' => 'June 21: The Nepal Stock Exchange (NEPSE) suffered a sharp fall on Monday, incurring a loss of Rs 98 billion to the investors. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">June 21: <span style="font-family:&quot;Arial Unicode MS&quot;">The Nepal Stock Exchange (NEPSE) suffered a sharp fall on Monday, incurring a loss of Rs 98 billion to the investors.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The NEPSE index closed at 2,834.40 points with a fall by 71.06 points, according to the state-owned national news agency RSS. The total market capitalization was reduced to Rs 3937.67 billion on Monday against the market capitalization of Rs 4036.39 billion on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, the sensitive index to measure the big companies&rsquo; trading decreased by 8.37 points and closed at 520.18 points. According to NEPSE, more than 22.52 million unit shares of 227 companies were traded at Rs 11.61 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">All 13 sectors suffered loss with banking sector losing 34.22 points, trade sector (29.63 points), hotel and tourism (165.84 points), development banks (210.21 points), hydropower (150.24 points) and finance (120.22 points).&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the basis of trading volume, Nepal Reinsurance Company (NRIC) stood atop the list for trading the company&rsquo;s shares worth Rs 1.30 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Amid the freefall of NEPSE, the shares of Narayani Development Bank, Hydroelectricity Investment and Development Company Limited (HIDCL), NBBL Debenture, SBL Debenture and NABIL Bond 2082 increased in the market.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Pokhara Finance, Universal Power, Union Hydropower, Himal Dolakha Hydropower and Liberty Energy remained the top losers in the share market.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
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			'id' => '13565',
			'article_category_id' => '1',
			'title' => 'Himalayan Reinsurance Company likely to Come into Operation from July 1',
			'sub_title' => '',
			'summary' => 'June 21: The Himalayan Reinsurance Company, which has received approval in principle for the establishment of the company, is making necessary preparation to start its operation from July 1.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 21: The Himalayan Reinsurance Company, which has received approval in principle for the establishment of the company, is making necessary preparation to start its operation from July 1. The insurance company had received approval in principle from the Insurance Board for the establishment of the company in the first week of June. The founders are preparing to operate the company within July after completing all the necessary processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">After receiving the approval, the Himalayan Reinsuirance Company has been registered with the Company Registrar&#39;s Office. In addition, equity investment (Rs. 7 billion) has also been raised for institutional investment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The office of the company has been established in Baluwatar. Shekhar Golchha has been appointed as the chairman of the company. Entrepreneur Pashupati Murarka, one of the founding investors, said that an application has already been submitted to the Insurance Board seeking permission to operate the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We have already submitted application to the Insurance Board for the final approval. The process is almost complete,&rdquo; Muraraka said, adding, &ldquo;Overall, we are preparing to bring the company into operation from July 1.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;Murarka is confident that the final approval to operate the company will be received from the Insurance Board within a week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Executive Director of the Insurance Board Rajuraman Poudel also said that preparations are underway to give final approval to Himalayan Reinsurance Company. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Once the approval in principle is given, there is no problem in giving final approval. We have received information that the company has raised capital,&rdquo; said Poudel, adding, &ldquo;We will give the final approval to the company soon.&quot;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The paid-up capital of this privately owned company is Rs 10 billion. Institutional investment is Rs 7 billion. The remaining Rs 3 billion will be raised through IPOs, Murarka said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The main share investor of the company is Jagdamba (Shankar) Group. Likewise, the outgoing president of the Federation of Nepalese Chambers of Commerce and Industry Bhawani Rana, current president Shekhar Golchha, former president of the federation Pashupati Murarka, businessman Shahil Agrawal and other individuals and various business houses will have their stakes in the reinsurance company. The Board said that Lucky Group, Dugad Group, and other business houses have also invested in the Himalaya Reinsurance Company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Currently, the state-owned Nepal Reinsurance Company is the only reinsurance company operating in Nepal. A study committee formed by the Insurance Board had also shown the need for an additional reinsurance company. The Board then proceeded with the process of establishing a new reinsurance company owned by the private sector. Five companies had applied for establishing the proposed reinsurance company. Out of them, the Insurance Board decided to give approval in principle to Himalayan Reinsurance. Other companies that had filed applications were Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company and Genuine Reinsurance Company. According to the Board, the Himalayan Reinsurance received the approval in principle as it met the evaluation requirements based on the prescribed criteria.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '13564',
			'article_category_id' => '1',
			'title' => 'Police Investigating Case of Smuggled Chinese Apples',
			'sub_title' => '',
			'summary' => 'June 21: Police officials in Nepal and India have been suspended after 1,350 cartons of Chinese apples loaded on three Nepali trucks were seized by Indian security forces. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 21: Police officials in Nepal and India have been suspended after 1,350 cartons of Chinese apples loaded on three Nepali trucks were seized by Indian security forces. After seizing the apples that are banned in India, it has been revealed that the apples were being smuggled to India in collusion with police.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Four Nepal border police personnel and Indian border police have been suspended after three trucks with apples were seized in Birpur, India five days ago.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Three Nepali trucks parked inside a brick kiln in Birpur, India are now under the control of the Indian SSB. A total of 34 Nepal Police personnel from the border police post and area police office, have been called to the District Police Office, Sunsari, from their workplaces on the charge of smuggling Chinese apples to India. Similarly, 15 security personnel of the Armed Police Force have been called from their workplace.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Nepal Police and APF have formed separate committees led by SSP and started investigation after the trucks reached India from Laukahi border of Sunsari under the protection of Sunsari Police.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson and SP of provincial police office Biratnagar, Mahendra Kumar Shrestha informed that a five-member investigation committee has been formed under the coordination of SSP Rajendra Prasad Chaudhary of the Federal Police Unit Office Dharan. The investigation committee consists of DSP Laxmi Bhandari, Inspector Mohan Rayamajhi and three other junior police officers.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">DIG of Armed Police Force Banshi Raj Dahal said that a three-member investigation committee has been formed under the leadership of SSP Prakash Thapa and DSP Navin Bogati of APF No.1 Brigade Headquarters, Sunsari. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The team has started investigation on whose involvement the apples reached India from the checkpoint,&rdquo; said Dahal, &ldquo;Based on the report given by the investigation team, we will take appropriate action.&rdquo;&nbsp;</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '13563',
			'article_category_id' => '1',
			'title' => 'Water Supply from Melamchi to be Further Delayed',
			'sub_title' => '',
			'summary' => 'June 21: Water supply from Melamchi to Kathmandu will be delayed due to the damage made by the recent flood.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 21: Water supply from Melamchi to Kathmandu will be delayed due to the damage made by the recent flood. On July 20, the Melamchi Water Supply Project had halted water supply to Kathmandu for two months to inspect and test the tunnel.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">However, the damage caused by the flood of last Tuesday is likely to further delay the water supply to the valley.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The flood had caused extensive damage at Ambathan, the main dam site of the Sindhupalchok-based project. The Melamchi Water Supply Board had earlier issued a notice that Melamchi water would not be distributed in Kathmandu till mid-August for tunnel testing and inspection. It has been decided that there will be no water for a few more months after the project site was damaged due to floods and landslides in Melamchi with the onset of the monsoon.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson of the board Rajendra Prasad Pant said that it is not possible to supply the water on the scheduled date due to the post-flood situation. He said that water can be supplied after a few months of the scheduled time with the help of the Department of Roads, the Nepal Army, and local stakeholders.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;The amount of time it takes to repair the damaged infrastructures like roads, camps, bridges at the project site will determine the amount of water supply,&quot; Pant said.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He informed that the affected areas could not be reached due to the rising water level of the river. Project officials are preparing to visit the project site on Monday. &quot;Efforts have been made to repair the flood-damaged road from Melamchi Bazaar. We have not been able to reach there,&quot; Pant said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He said that the details could not be obtained. The access road from Melamchi Bazaar to the project site is 21 kilometers away.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">About half of the road needs to be repaired. With construction materials as well as equipment and camps flooded, it is unlikely that water will be distributed in the valley on time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The board has collaborated with various agencies to start the road maintenance work from Melamchi Bazaar.</span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '13562',
			'article_category_id' => '1',
			'title' => 'Government Eases Restrictions, Extends Prohibitory Order by 1 Week',
			'sub_title' => '',
			'summary' => 'June 21: Government authorities have extended prohibitory order in Kathmandu valley by one more week. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 21: Government authorities have extended prohibitory order in Kathmandu valley by one more week. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the chief district officers of Kathmandu, Lalitpur and Bhaktapur took a decision to this effect on Sunday (June 21). With the latest decision, the prohibitory order will remain in force till June 28. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Despite the extension of the prohibitory order, the government has eased the restrictions and partially opened certain sectors.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Private vehicles as well as taxis will be allowed to operate from tomorrow as per the odd-even rule. However, four-wheelers will be allowed to carry a maximum of three passengers.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Although the authorities have allowed to operate vehicles inside the valley, security forces have been instructed to take strict measures at entry points of the valley. Except for ambulance and vehicles of security forces as well as those carrying essential goods and the ones with passes, other vehicles will not be allowed entry into the valley. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The meeting has also decided people to move freely in the valley by maintaining physical&nbsp; distance.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to CDO of Kathmandu Kali Prasad Parajuli, certain week days have been marked for different categories of shops to operate from 11 in the morning to 4 in the evening. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">However, the opening time of shops selling milk and vegetables, fruits, meat shops as well as grocery stores, stationery shops has not been changed. Those shops will be allowed to open daily till 11 am. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, departmental stores, shopping malls, ready-made garment shops, fancy dress stores, gift shops and tailoring shops will be allowed to open on Monday, Wednesday and Friday.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, jewelry shops as well as shops selling utensils, automobile spare-parts and showrooms, mobile shops among others will be allowed to open on Sunday, Tuesday and Thursday. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Likewise, shops selling construction materials and hardware stores, furniture shops, electric shops will be open from 11 am to 6 pm while online delivery and workshops will be allowed till 7 pm.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, ban on roadside vendors will remain in force considering the risk of spreading coronavirus from footpath stalls.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Schools, party palaces, cinema halls, dance bar, saloons, beauty parlours, libraries, gyms, museums and zoo will remain closed during this period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The prohibitory order has remained in force since April 29 following the outbreak of second wave of coronavirus in the country.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13560',
			'article_category_id' => '1',
			'title' => 'Farmers Selling Paddy at Half the Support Price',
			'sub_title' => '',
			'summary' => 'June 20: Farmers have been forced to sell paddy to traders at half the support price set by the government as the state-owned Food Management and Trading Company Limited (FMTC) did not buy paddy this year.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 20: Farmers have been forced to sell paddy to traders at half the support price set by the government as the state-owned Food Management and Trading Company Limited (FMTC) did not buy paddy this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government had set the minimum support prices with the aim to support the farmers. The government had fixed the price of medium paddy at Rs 2,885 per quintal and coarse paddy at Rs 2,735 per quintal for the fiscal year 2077/78. However, as the company has not shown any interest in purchasing paddy, the farmers say that they have to sell paddy at Rs 1,400 to Rs 1,500 per quintal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Bhubaneswar Yadav, a Sunsari-based farmer, expressed his dissatisfaction as he had to sell his paddy at Rs 1,500 per quintal. He says that the government has fooled them in the name of support price. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We had harvested paddy in such a large quantity with the hope that we will get a reasonable price as the government had fixed the minimum support price. But after selling the paddy in such a throw-away price, our hard work has gone in vain,&rdquo; he told New Business Age.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similar is the situation of other farmers like Yadav. Agni Aryal, coordinator of Rajaur Paddy Superzone, said that although the production of paddy has been good in Bardiya this year, the farmers have not been able to get a fair price. According to him, the farmers of Bardiya are selling paddy at Rs 1,400 per quintal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The Ministry of Agriculture and Livestock Development informed that out of the total cultivable land of 1.35 million hectares, paddy has been cultivated in more than 100,000 hectares of land in Sunsari, Morang, Jhapa, Bara, Parsa, Sarlahi, Chitwan, Dang, Banke, Bardiya and Kailali districts this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the ministry, the state-owned company has not been able to buy paddy from the farmers as the procurement target of the government is already met. Information officer of FMTC Sharmila Neupane Subedi also said that they cannot buy paddy as the target has already been met.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The company had initially set a target of purchasing 60,000 metric tons of paddy for the fiscal year 2077/78. However, as the quantity could not be procured, the target was revised to 34,700 metric tons. The target has been reduced as the minimum support price set by the government is higher than the market price and the company has to bear loss when they have to sell paddy at the subsidized price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '13561',
			'article_category_id' => '1',
			'title' => 'Hydropower Projects Incur Loss of Rs 10 Billion due to Floods: IPPAN',
			'sub_title' => '',
			'summary' => 'June 20: Hydropower projects promoted by the private sector have incurred an estimated loss of Rs 10 billion due to the floods and landslides that occurred in various districts last week.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 20: Hydropower projects promoted by the private sector have incurred an estimated loss of Rs 10 billion due to the floods and landslides that occurred in various districts last week. A preliminary study conducted by the Independent Power Producers&rsquo; Association of Nepal (IPPAN) has estimated the loss at around Rs 10 billion.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Krishna Prasad Acharya, chairman of IPPAN, claimed that the floods have caused a loss of Rs 10 billion to hydropower projects operated by the private sector. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Our preliminary study has pointed to the damage of this scale,&rdquo; he told New Business Age, adding, &quot;We have demanded the government to form a high-level mechanism to study the losses caused by the floods.&quot;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Hydropower projects have been badly affected by last week&#39;s floods and landslides. Particularly, the under-construction projects have been more affected. Projects have suffered damages like sweeping away of construction materials, inundation of power house and destruction of dam. Similarly, transmission line towers have collapsed and roads connecting to the project area have been destroyed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to IPPAN , 42 MW Supermardi Hydropower Project being constructed in Kaski has incurred significant damage. Acharya said that most of the construction materials have been washed away by the floods. Along with the formation of high-level mechanism to study into the details of loss incurred, IPPAN has also sought for appropriate relief packages to the affected projects.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement on Friday, June 18, IPPAN has urged the government to set up a high-level mechanism. IPPAN has demanded to form the committee representing the ministries of finance, energy and home affairs. Acharya said that the committee should also have representation from private energy producers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that appropriate relief should be distributed after studying the extent of the damage incurred. &quot;This time, the damage incurred is not minimal. If the loss amounted to two to four million rupees, we could have handled it. But the loss amounts to billions. So the government needs to bring necessary relief package for the affected projects.&quot;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to IPPAN, the under-construction projects might be delayed by at least one year due to the loss incurred. The relief packages should also address this issue. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">IPPAN has also demanded immediate reconstruction of the destroyed roads leading to the project site and repair of transmission lines damaged by the floods.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '13559',
			'article_category_id' => '1',
			'title' => 'Monsoon Unlikely to Weaken Soon: Meteorologist',
			'sub_title' => '',
			'summary' => 'June 20: Meteorologists have warned that the monsoon that has become active since the last few days will not be weakening immediately. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 20: Meteorologists have warned that the monsoon that has become active since the last few days will not be weakening immediately. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to meteorologist at the Department of Hydrology and Meteorology, Shanti Kandel, the monsoon is not likely to weaken anytime soon since it has become active from the very beginning this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;The influence of monsoon will remain for still some more days. Therefore, the trend of rainfall will continue for few more days,&quot; the state owned national news agency RSS quoted Kandel as saying.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, meteorologist Kandel said that the impact of the monsoon wind will however weaken after some days. It has been raining continuously due to the monsoon that has become active three days before the usual date this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Meteorology said the weather will remain partly to generally cloudy throughout the country with light rainfall and possibility of thunder on Sunday (today) and Monday (June 21).</span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '13304',
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			'article_date' => '2021-06-20 11:51:59',
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		'Article' => array(
			'id' => '13558',
			'article_category_id' => '1',
			'title' => 'Nepal Urges Development Partners to Help Address Investment Gaps ',
			'sub_title' => '',
			'summary' => 'June 20: Deputy Prime Minister (DPM) and Minister for Foreign Affairs Raghubir Mahaseth has said that Nepal’s graduation from the LDC category would be an important milestone in the country’s development trajectory.     ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 20: Deputy Prime Minister (DPM) and Minister for Foreign Affairs Raghubir Mahaseth has said that Nepal&rsquo;s graduation from the LDC category would be an important milestone in the country&rsquo;s development trajectory.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Addressing the &lsquo;Joint Thematic Event of the UN General Assembly and Economic and Social Council on Least Developed Countries&rsquo; through a pre-recorded video on Saturday (June 19), DPM Mahaseth expressed Nepal&rsquo;s commitment to make the graduation process smooth and sustainable by mobilizing finance from public as well as private sectors, and internal as well as external sources.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">DPM Mahaseth stressed that the development partners need to live up to their financing commitments to help address the investment gaps in the LDCs. He also called for international community&rsquo;s support in line with the LDCs&rsquo; development needs, including in the areas of productive capacity, infrastructure, energy, and connectivity.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Referring to the unrealized target of the Istanbul Programme of Action to enable graduation of half of the LDCs, he underlined the need to scale up collective action to match the collective ambition. The foreign minister further stressed that the United Nations Fifth Conference on the LDCs to be held in Doha in January 2022 must be a conference of hope offering adequate financing and means of implementation to ensure that the LDCs will not be left behind.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The thematic event was jointly organized under the theme of &lsquo;Diversifying the Financing Toolbox to Enhance Investment in Least Developed Countries&rsquo; by the President of General Assembly and the President of ECOSOC at UN Headquarters, New York. A number of Ministers and high-level participants attended the event, according to the Permanent Mission of Nepal to the United Nations. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'created' => '2021-06-20',
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			'description' => '',
			'sortorder' => '13303',
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			'article_date' => '2021-06-20 11:37:42',
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		'Article' => array(
			'id' => '13557',
			'article_category_id' => '1',
			'title' => 'Nepal’s deposits in Swiss banks fourth largest among South Asian nations',
			'sub_title' => 'As Nepal has banned transfer of money abroad, the money held by Swiss banks could have been transferred ‘illegally’',
			'summary' => 'Funds deposited by Nepali individuals and firms in Swiss banks more than doubled to 360.82 million Swiss Francs in 2020.',
			'content' => '<p><strong>Sagar Ghimire</strong></p>

<p>Kathmandu, June 19: Funds deposited by Nepali individuals and firms in Swiss banks more than doubled to 360.82 million Swiss Francs (over Rs 46.18 billion in today&rsquo;s exchange rate) in 2020, making Nepal the fourth largest depositor of cash in Switzerland among South Asian countries.</p>

<p>Nepalis have never parked such a huge amount of money in Swiss banks in the last 25 years, shows the 2020 report of the Swiss National Bank (SNB), the Swiss central bank. Deposits of Nepalis in Swiss banks stood at 175.9 million Swiss Francs (CHF) (nearly Rs 22.51 billion) in 2019. That amount jumped 105.2 percent in 2020 to reach CHF 360.8 million. The amount parked by Nepalis is fourth largest among South Asian countries, after India (CHF 2.6 billion), Pakistan (CHF 642.3 million) and Bangladesh (CHF 562.9 million).<img alt="" src="/app/webroot/userfiles/images/Nepali%20Deposits%20in%20Swiss%20Banks.JPG" style="float:right; height:275px; width:450px" /></p>

<p>Since Nepal&rsquo;s laws and regulations bar the citizens and companies from transferring funds abroad without the central bank&rsquo;s approval, officials believe that the deposits in Swiss banks&mdash;referred by the Swiss central bank as &lsquo;liabilities of its banks&rsquo; to Nepali clients&mdash;could have been transferred illegally.&nbsp;</p>

<p>The data of the Swiss central bank shows that Nepalis&rsquo; deposits had fallen 29 percent in 2019 from CHF 248.79 million (Rs 32.85 billion) in 2018.</p>

<p>As Swiss banks maintain highest degree of secrecy of their clients, it is not clear who these Nepali individuals or firms are and how they managed to park their funds in Switzerland.</p>

<p>Switzerland has long been perceived as one of the most preferred safe havens for many individuals and firms from across the world to stash their funds.</p>

<p>Such secrecy could also make it vulnerable to abuse of the banking system to park ill-gotten money by launderers or criminals, according to experts.&nbsp;</p>

<p>Switzerland has ranked third in Financial Secrecy Index of 133 jurisdictions in 2020 by The Tax Justice Network.</p>

<p>Switzerland, however, has been dismissing such concerns, claiming that it is always committed to the integrity of the global financial system and to abiding by international transparency standards.</p>

<p>Officials at the Nepal Rastra Bank (NRB)&mdash;the central regulatory bank of Nepal&mdash;say that they are unaware about the SNB&rsquo;s recently released data.</p>

<p>&ldquo;I cannot comment on the case that you are referring to. However, what I can say is that Nepali citizens and firms are not allowed to &nbsp;send money abroad except in certain conditions like to import goods through the use of letters of credit or to repatriate dividend provided by businesses operated by foreign investors in Nepal,&rdquo; said Neelam Dhungana Timsina, a deputy governor at the NRB. &ldquo;We do not have capital account convertibility. So, we do not allow overseas fund transfers easily,&rdquo; added NRB Deputy Governor Timsina who oversees Foreign Exchange Management Department at the central bank.</p>
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			'sortorder' => '13302',
			'image' => '20210619052441_South Asian Countries Deposits in Swiss Banks.JPG',
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		'Article' => array(
			'id' => '13556',
			'article_category_id' => '1',
			'title' => 'Nepal Receives 982 Oxygen Concentrators Financed by World Bank ',
			'sub_title' => '',
			'summary' => 'Nepal received 982 units of 10-liter oxygen concentrators, financed by the World Bank today.',
			'content' => '<p>June 19: &nbsp;Nepal received 982 units of 10-liter oxygen concentrators, financed by the World Bank today.</p>

<p>Issuing a statement on Saturday, the World Bank said that the concentrators are part of a long-term solution for augmenting Nepal&rsquo;s capacities to supply therapeutic oxygen to public health facilities towards a stronger response to the COVID-19 pandemic.</p>

<p>&ldquo;I am very pleased that we have been able to quickly bring in the oxygen concentrators, which will be dispatched to health facilities of greatest need across all seven provinces of the country,&rdquo; the statement quoted Sher Bahadur Tamang, Minister of Health and Population, as saying. &ldquo;The government is working hard to strengthen availability of medical oxygen in all the public health facilities of Nepal, such that every Nepali citizen requiring oxygen is able to access it.&rdquo;</p>

<p>According to the statement, the oxygen concentrators were procured through United Nations Office for Project Services (UNOPS) under the World Bank-financed COVID-19 Emergency Response and Health Systems Preparedness Project, which has also financed seven oxygen generation plants, one for each province in Nepal.&nbsp;</p>

<p>These plants will be brought in, installed and operationalized by UNOPS in a phased manner in seven provincial hospitals, in the next 6-15 weeks, said the statement.</p>

<p>&nbsp;&ldquo;The World Bank has made available $104 million to support Nepal&rsquo;s immediate health response to the pandemic, including the procurement of life-saving COVID-19 vaccines, and strengthening the country&rsquo;s health systems and preparedness,&rdquo; the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka, as saying. &ldquo;We are committed to support Nepal and Nepalis during this crisis, and by joining forces with the government and development partners, we have been able to have more impact.&rdquo;</p>
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			'article_date' => '2021-06-19 15:00:51',
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		'Article' => array(
			'id' => '13555',
			'article_category_id' => '1',
			'title' => 'Govt Urged to Create Legal Framework Within One Year to Secure Cyberspace ',
			'sub_title' => '',
			'summary' => 'Federation of Computer Association of Nepal, Center for Cyber Security Research and Innovation and Information Security Response Team Nepal have jointly urged the government to prepare legal and regulatory framework for secure cyberspace within a year and build organizational structure and infrastructure required for it within six months',
			'content' => '<p>June 19:&nbsp;Federation of Computer Association of Nepal, Center for Cyber Security Research and Innovation and Information Security Response Team Nepal have jointly urged the government to prepare legal and regulatory framework for secure cyberspace within a year and build organizational structure and infrastructure required for it within six months.</p>

<p>While submitting the suggestions over draft of National Cyber Security Policy 2021, they have asked the government to maintain the legal and organizational requirements for sensitive issues like cybersecurity at the earliest.&nbsp;</p>

<p>The draft has set a target of having a regulatory and legal framework for reliable, secure and resilient cyberspace in three years setting up organizational structures and infrastructures in five years.<br />
A delegation team of representatives from these three organizations met Hari Prasad Basyal, Secretary of Ministry for Communication and Information Technology, and suggested formulating laws &nbsp;to control the cyber crime, strengthen cyber security in provincial and central level.</p>

<p>They have also suggested making use of free and accessible digital signatures mandatory for &nbsp;government, non-government and private organizations.&nbsp;</p>
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			'id' => '13568',
			'article_category_id' => '1',
			'title' => 'Stakeholders Seek Fair Distribution of Government Advertisements ',
			'sub_title' => '',
			'summary' => 'June 22: Business leaders and advertising experts have urged the government to distribute its advertisements equally through one basket.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 22: Business leaders and advertising experts have urged the government to distribute its advertisements equally through one basket.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Stating that the government is one of the major advertisers in the country, experts expressed concerns over the lack of transparent, competitive and fair process to distribute the government&rsquo;s advertisements. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Speaking at a programme organized on June 21 by the Advertising Association of Nepal (AAN) to mark its 31<sup>st</sup> anniversary, advertising experts also expressed the need for a national advertising policy, expansion of the advertising market and the code of conduct to monitor the advertising market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Shubha Shankar Kandel, chairman of Nepal Media Society, said that all advertisements should be brought together under one basket and distributed among different media equally. He further said the advertising market lacks a fair, transparent competitive environment and customers are not getting the right information about the quality of products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, Laxman Humagain, president of the Advertisement Board, said that a national advertising policy and code of conduct should be formulated on what kind of advertisement should be produced and the rights of customers to be informed with genuine information about the quality of product. He stated that a prosperous advertising market requires the development of industries. Advertising is the indicator of industrialization and the standard of life of people.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Jyoti Baniya, chairperson of Consumer Welfare Protection Forum, the target group of advertising market is the customers of the product so the practice of developing advertising content with false claims should be monitored.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Shekhar Golchha, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said advertising is the medium to connect with the customers. Without advertisements, all the products and brands would look similar and wouldn&#39;t be able to compete, said Golchha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">On the other hand, Bhaskar Raj Rajkarnikar, chairman of Media Alliance Nepal, said that the quality of the content of advertisement determines the expansion of the advertising market. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Good contents attract investors and the advertising players will also follow suit,&rdquo; he said. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Som Prasad Dhital, president of the Advertising Association of Nepal (AAN), stated that the advertising market has created job opportunities for 33,000 people and this number should be maintained with the collaboration among the media and the Advertisement Board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Contribution of Small and Cottage Industries Vital for Economy: NRB Governor ',
			'sub_title' => '',
			'summary' => 'June 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari stated that small and cottage industries have made significant contribution to the national economy, the state-owned national news agency RSS reported.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 22: Nepal Rastra Bank&rsquo;s (NRB) Governor Maha Prasad Adhikari stated that small and cottage industries have made significant contribution to the national economy, the state-owned national news agency RSS reported.</span><br />
&nbsp;<span style="font-family:&quot;Arial Unicode MS&quot;">During a virtual interaction with the officials of the Federation of Nepali Cottage and Industries on Monday, Governor Adhikari said, &quot;There are a lot of small and mid-scale industries which contribute much to the country&#39;s economy.&quot; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, Governor Adhikari said that NRB has kept this sector in priority list in its policy, and also asserted that the monetary policy of the current fiscal year was intended to bring historic change.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the occasion, Chairman of the Federation Shyam Giri demanded the Governor to exempt the interest of loan during the lockdown period. He further said the refinancing work procedure should be re-written in case of small industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Former Chairpersons of the Federation, Suresh Pradhan and Lata Pyakurel and senior Vice Chairperson Umesh Prasad Singh, among others urged the NRB to pay heed to the demands of the small-scale and cottage industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;&nbsp; </span></span></span></p>
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			'id' => '13567',
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			'title' => '     Delta Variant’s Mutation Detected in Nepal ',
			'sub_title' => '',
			'summary' => 'June 21: The Delta variant’s mutation of coronavirus has been detected in Nepal.   ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">June 21: The Delta variant&rsquo;s mutation of coronavirus has been detected in Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Ministry of Health and Population, the mutated forms of the Delta variant were confirmed in nine samples while conducting gene sequencing in New Delhi, India.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Deputy-Spokesperson at the Ministry Dr Samir Adhikari shared that among the 47 Delta variants confirmed during the gene sequencing, nine new K417 N mutations were detected and have been named AY.1.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Cases of AY.1 have been detected in 10 countries including Nepal, according to the Ministry. PCR samples collected from various countries and from various age group were collected in mid-June and were sent to India for gene sequencing.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">So far, Alfa (B.1.1.7), Delta (B.1.617.2), Kappa (B.1.617.1) variants have been detected in Nepal, said Spokesperson at the Ministry Dr Krishna Poudel, adding that the Delta variant is highly contagious and dangerous. </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry has urged one and all to comply with the health safety protocols to prevent infection from the new mutated form of the Delta variant of novel coronavirus. -- RSS&nbsp; </span></span></span></span></p>
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			'created' => '2021-06-21',
			'modified' => '2021-06-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '13312',
			'image' => '20210621111631_DeltaVariant.jpg',
			'article_date' => '2021-06-21 23:15:15',
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	(int) 3 => array(
		'Article' => array(
			'id' => '13566',
			'article_category_id' => '1',
			'title' => ' As NEPSE Takes a Nosedive, Investors Lose Rs 98 Billion ',
			'sub_title' => '',
			'summary' => 'June 21: The Nepal Stock Exchange (NEPSE) suffered a sharp fall on Monday, incurring a loss of Rs 98 billion to the investors. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">June 21: <span style="font-family:&quot;Arial Unicode MS&quot;">The Nepal Stock Exchange (NEPSE) suffered a sharp fall on Monday, incurring a loss of Rs 98 billion to the investors.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The NEPSE index closed at 2,834.40 points with a fall by 71.06 points, according to the state-owned national news agency RSS. The total market capitalization was reduced to Rs 3937.67 billion on Monday against the market capitalization of Rs 4036.39 billion on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, the sensitive index to measure the big companies&rsquo; trading decreased by 8.37 points and closed at 520.18 points. According to NEPSE, more than 22.52 million unit shares of 227 companies were traded at Rs 11.61 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">All 13 sectors suffered loss with banking sector losing 34.22 points, trade sector (29.63 points), hotel and tourism (165.84 points), development banks (210.21 points), hydropower (150.24 points) and finance (120.22 points).&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the basis of trading volume, Nepal Reinsurance Company (NRIC) stood atop the list for trading the company&rsquo;s shares worth Rs 1.30 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Amid the freefall of NEPSE, the shares of Narayani Development Bank, Hydroelectricity Investment and Development Company Limited (HIDCL), NBBL Debenture, SBL Debenture and NABIL Bond 2082 increased in the market.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Pokhara Finance, Universal Power, Union Hydropower, Himal Dolakha Hydropower and Liberty Energy remained the top losers in the share market.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
',
			'published' => true,
			'created' => '2021-06-21',
			'modified' => '2021-06-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '13311',
			'image' => '20210621111037_stock-mar.jpg',
			'article_date' => '2021-06-21 23:09:39',
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	(int) 4 => array(
		'Article' => array(
			'id' => '13565',
			'article_category_id' => '1',
			'title' => 'Himalayan Reinsurance Company likely to Come into Operation from July 1',
			'sub_title' => '',
			'summary' => 'June 21: The Himalayan Reinsurance Company, which has received approval in principle for the establishment of the company, is making necessary preparation to start its operation from July 1.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 21: The Himalayan Reinsurance Company, which has received approval in principle for the establishment of the company, is making necessary preparation to start its operation from July 1. The insurance company had received approval in principle from the Insurance Board for the establishment of the company in the first week of June. The founders are preparing to operate the company within July after completing all the necessary processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">After receiving the approval, the Himalayan Reinsuirance Company has been registered with the Company Registrar&#39;s Office. In addition, equity investment (Rs. 7 billion) has also been raised for institutional investment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The office of the company has been established in Baluwatar. Shekhar Golchha has been appointed as the chairman of the company. Entrepreneur Pashupati Murarka, one of the founding investors, said that an application has already been submitted to the Insurance Board seeking permission to operate the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We have already submitted application to the Insurance Board for the final approval. The process is almost complete,&rdquo; Muraraka said, adding, &ldquo;Overall, we are preparing to bring the company into operation from July 1.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;Murarka is confident that the final approval to operate the company will be received from the Insurance Board within a week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Executive Director of the Insurance Board Rajuraman Poudel also said that preparations are underway to give final approval to Himalayan Reinsurance Company. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Once the approval in principle is given, there is no problem in giving final approval. We have received information that the company has raised capital,&rdquo; said Poudel, adding, &ldquo;We will give the final approval to the company soon.&quot;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The paid-up capital of this privately owned company is Rs 10 billion. Institutional investment is Rs 7 billion. The remaining Rs 3 billion will be raised through IPOs, Murarka said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The main share investor of the company is Jagdamba (Shankar) Group. Likewise, the outgoing president of the Federation of Nepalese Chambers of Commerce and Industry Bhawani Rana, current president Shekhar Golchha, former president of the federation Pashupati Murarka, businessman Shahil Agrawal and other individuals and various business houses will have their stakes in the reinsurance company. The Board said that Lucky Group, Dugad Group, and other business houses have also invested in the Himalaya Reinsurance Company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Currently, the state-owned Nepal Reinsurance Company is the only reinsurance company operating in Nepal. A study committee formed by the Insurance Board had also shown the need for an additional reinsurance company. The Board then proceeded with the process of establishing a new reinsurance company owned by the private sector. Five companies had applied for establishing the proposed reinsurance company. Out of them, the Insurance Board decided to give approval in principle to Himalayan Reinsurance. Other companies that had filed applications were Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company and Genuine Reinsurance Company. According to the Board, the Himalayan Reinsurance received the approval in principle as it met the evaluation requirements based on the prescribed criteria.</span></span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '13310',
			'image' => '20210621061342_20200630093335_Reinsurance.jpg',
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	(int) 5 => array(
		'Article' => array(
			'id' => '13564',
			'article_category_id' => '1',
			'title' => 'Police Investigating Case of Smuggled Chinese Apples',
			'sub_title' => '',
			'summary' => 'June 21: Police officials in Nepal and India have been suspended after 1,350 cartons of Chinese apples loaded on three Nepali trucks were seized by Indian security forces. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 21: Police officials in Nepal and India have been suspended after 1,350 cartons of Chinese apples loaded on three Nepali trucks were seized by Indian security forces. After seizing the apples that are banned in India, it has been revealed that the apples were being smuggled to India in collusion with police.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Four Nepal border police personnel and Indian border police have been suspended after three trucks with apples were seized in Birpur, India five days ago.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Three Nepali trucks parked inside a brick kiln in Birpur, India are now under the control of the Indian SSB. A total of 34 Nepal Police personnel from the border police post and area police office, have been called to the District Police Office, Sunsari, from their workplaces on the charge of smuggling Chinese apples to India. Similarly, 15 security personnel of the Armed Police Force have been called from their workplace.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Nepal Police and APF have formed separate committees led by SSP and started investigation after the trucks reached India from Laukahi border of Sunsari under the protection of Sunsari Police.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson and SP of provincial police office Biratnagar, Mahendra Kumar Shrestha informed that a five-member investigation committee has been formed under the coordination of SSP Rajendra Prasad Chaudhary of the Federal Police Unit Office Dharan. The investigation committee consists of DSP Laxmi Bhandari, Inspector Mohan Rayamajhi and three other junior police officers.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">DIG of Armed Police Force Banshi Raj Dahal said that a three-member investigation committee has been formed under the leadership of SSP Prakash Thapa and DSP Navin Bogati of APF No.1 Brigade Headquarters, Sunsari. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The team has started investigation on whose involvement the apples reached India from the checkpoint,&rdquo; said Dahal, &ldquo;Based on the report given by the investigation team, we will take appropriate action.&rdquo;&nbsp;</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '13563',
			'article_category_id' => '1',
			'title' => 'Water Supply from Melamchi to be Further Delayed',
			'sub_title' => '',
			'summary' => 'June 21: Water supply from Melamchi to Kathmandu will be delayed due to the damage made by the recent flood.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 21: Water supply from Melamchi to Kathmandu will be delayed due to the damage made by the recent flood. On July 20, the Melamchi Water Supply Project had halted water supply to Kathmandu for two months to inspect and test the tunnel.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">However, the damage caused by the flood of last Tuesday is likely to further delay the water supply to the valley.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The flood had caused extensive damage at Ambathan, the main dam site of the Sindhupalchok-based project. The Melamchi Water Supply Board had earlier issued a notice that Melamchi water would not be distributed in Kathmandu till mid-August for tunnel testing and inspection. It has been decided that there will be no water for a few more months after the project site was damaged due to floods and landslides in Melamchi with the onset of the monsoon.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson of the board Rajendra Prasad Pant said that it is not possible to supply the water on the scheduled date due to the post-flood situation. He said that water can be supplied after a few months of the scheduled time with the help of the Department of Roads, the Nepal Army, and local stakeholders.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;The amount of time it takes to repair the damaged infrastructures like roads, camps, bridges at the project site will determine the amount of water supply,&quot; Pant said.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He informed that the affected areas could not be reached due to the rising water level of the river. Project officials are preparing to visit the project site on Monday. &quot;Efforts have been made to repair the flood-damaged road from Melamchi Bazaar. We have not been able to reach there,&quot; Pant said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He said that the details could not be obtained. The access road from Melamchi Bazaar to the project site is 21 kilometers away.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">About half of the road needs to be repaired. With construction materials as well as equipment and camps flooded, it is unlikely that water will be distributed in the valley on time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The board has collaborated with various agencies to start the road maintenance work from Melamchi Bazaar.</span></span></span></p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '13308',
			'image' => '20210621015904_20210611103908_1623336277.melamchi.jpg',
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	(int) 7 => array(
		'Article' => array(
			'id' => '13562',
			'article_category_id' => '1',
			'title' => 'Government Eases Restrictions, Extends Prohibitory Order by 1 Week',
			'sub_title' => '',
			'summary' => 'June 21: Government authorities have extended prohibitory order in Kathmandu valley by one more week. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 21: Government authorities have extended prohibitory order in Kathmandu valley by one more week. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the chief district officers of Kathmandu, Lalitpur and Bhaktapur took a decision to this effect on Sunday (June 21). With the latest decision, the prohibitory order will remain in force till June 28. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Despite the extension of the prohibitory order, the government has eased the restrictions and partially opened certain sectors.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Private vehicles as well as taxis will be allowed to operate from tomorrow as per the odd-even rule. However, four-wheelers will be allowed to carry a maximum of three passengers.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Although the authorities have allowed to operate vehicles inside the valley, security forces have been instructed to take strict measures at entry points of the valley. Except for ambulance and vehicles of security forces as well as those carrying essential goods and the ones with passes, other vehicles will not be allowed entry into the valley. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The meeting has also decided people to move freely in the valley by maintaining physical&nbsp; distance.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to CDO of Kathmandu Kali Prasad Parajuli, certain week days have been marked for different categories of shops to operate from 11 in the morning to 4 in the evening. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">However, the opening time of shops selling milk and vegetables, fruits, meat shops as well as grocery stores, stationery shops has not been changed. Those shops will be allowed to open daily till 11 am. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, departmental stores, shopping malls, ready-made garment shops, fancy dress stores, gift shops and tailoring shops will be allowed to open on Monday, Wednesday and Friday.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, jewelry shops as well as shops selling utensils, automobile spare-parts and showrooms, mobile shops among others will be allowed to open on Sunday, Tuesday and Thursday. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Likewise, shops selling construction materials and hardware stores, furniture shops, electric shops will be open from 11 am to 6 pm while online delivery and workshops will be allowed till 7 pm.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, ban on roadside vendors will remain in force considering the risk of spreading coronavirus from footpath stalls.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Schools, party palaces, cinema halls, dance bar, saloons, beauty parlours, libraries, gyms, museums and zoo will remain closed during this period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The prohibitory order has remained in force since April 29 following the outbreak of second wave of coronavirus in the country.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '13560',
			'article_category_id' => '1',
			'title' => 'Farmers Selling Paddy at Half the Support Price',
			'sub_title' => '',
			'summary' => 'June 20: Farmers have been forced to sell paddy to traders at half the support price set by the government as the state-owned Food Management and Trading Company Limited (FMTC) did not buy paddy this year.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 20: Farmers have been forced to sell paddy to traders at half the support price set by the government as the state-owned Food Management and Trading Company Limited (FMTC) did not buy paddy this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government had set the minimum support prices with the aim to support the farmers. The government had fixed the price of medium paddy at Rs 2,885 per quintal and coarse paddy at Rs 2,735 per quintal for the fiscal year 2077/78. However, as the company has not shown any interest in purchasing paddy, the farmers say that they have to sell paddy at Rs 1,400 to Rs 1,500 per quintal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Bhubaneswar Yadav, a Sunsari-based farmer, expressed his dissatisfaction as he had to sell his paddy at Rs 1,500 per quintal. He says that the government has fooled them in the name of support price. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We had harvested paddy in such a large quantity with the hope that we will get a reasonable price as the government had fixed the minimum support price. But after selling the paddy in such a throw-away price, our hard work has gone in vain,&rdquo; he told New Business Age.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similar is the situation of other farmers like Yadav. Agni Aryal, coordinator of Rajaur Paddy Superzone, said that although the production of paddy has been good in Bardiya this year, the farmers have not been able to get a fair price. According to him, the farmers of Bardiya are selling paddy at Rs 1,400 per quintal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The Ministry of Agriculture and Livestock Development informed that out of the total cultivable land of 1.35 million hectares, paddy has been cultivated in more than 100,000 hectares of land in Sunsari, Morang, Jhapa, Bara, Parsa, Sarlahi, Chitwan, Dang, Banke, Bardiya and Kailali districts this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the ministry, the state-owned company has not been able to buy paddy from the farmers as the procurement target of the government is already met. Information officer of FMTC Sharmila Neupane Subedi also said that they cannot buy paddy as the target has already been met.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The company had initially set a target of purchasing 60,000 metric tons of paddy for the fiscal year 2077/78. However, as the quantity could not be procured, the target was revised to 34,700 metric tons. The target has been reduced as the minimum support price set by the government is higher than the market price and the company has to bear loss when they have to sell paddy at the subsidized price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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			'id' => '13561',
			'article_category_id' => '1',
			'title' => 'Hydropower Projects Incur Loss of Rs 10 Billion due to Floods: IPPAN',
			'sub_title' => '',
			'summary' => 'June 20: Hydropower projects promoted by the private sector have incurred an estimated loss of Rs 10 billion due to the floods and landslides that occurred in various districts last week.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 20: Hydropower projects promoted by the private sector have incurred an estimated loss of Rs 10 billion due to the floods and landslides that occurred in various districts last week. A preliminary study conducted by the Independent Power Producers&rsquo; Association of Nepal (IPPAN) has estimated the loss at around Rs 10 billion.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Krishna Prasad Acharya, chairman of IPPAN, claimed that the floods have caused a loss of Rs 10 billion to hydropower projects operated by the private sector. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Our preliminary study has pointed to the damage of this scale,&rdquo; he told New Business Age, adding, &quot;We have demanded the government to form a high-level mechanism to study the losses caused by the floods.&quot;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Hydropower projects have been badly affected by last week&#39;s floods and landslides. Particularly, the under-construction projects have been more affected. Projects have suffered damages like sweeping away of construction materials, inundation of power house and destruction of dam. Similarly, transmission line towers have collapsed and roads connecting to the project area have been destroyed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to IPPAN , 42 MW Supermardi Hydropower Project being constructed in Kaski has incurred significant damage. Acharya said that most of the construction materials have been washed away by the floods. Along with the formation of high-level mechanism to study into the details of loss incurred, IPPAN has also sought for appropriate relief packages to the affected projects.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement on Friday, June 18, IPPAN has urged the government to set up a high-level mechanism. IPPAN has demanded to form the committee representing the ministries of finance, energy and home affairs. Acharya said that the committee should also have representation from private energy producers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that appropriate relief should be distributed after studying the extent of the damage incurred. &quot;This time, the damage incurred is not minimal. If the loss amounted to two to four million rupees, we could have handled it. But the loss amounts to billions. So the government needs to bring necessary relief package for the affected projects.&quot;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to IPPAN, the under-construction projects might be delayed by at least one year due to the loss incurred. The relief packages should also address this issue. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">IPPAN has also demanded immediate reconstruction of the destroyed roads leading to the project site and repair of transmission lines damaged by the floods.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '13559',
			'article_category_id' => '1',
			'title' => 'Monsoon Unlikely to Weaken Soon: Meteorologist',
			'sub_title' => '',
			'summary' => 'June 20: Meteorologists have warned that the monsoon that has become active since the last few days will not be weakening immediately. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 20: Meteorologists have warned that the monsoon that has become active since the last few days will not be weakening immediately. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to meteorologist at the Department of Hydrology and Meteorology, Shanti Kandel, the monsoon is not likely to weaken anytime soon since it has become active from the very beginning this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;The influence of monsoon will remain for still some more days. Therefore, the trend of rainfall will continue for few more days,&quot; the state owned national news agency RSS quoted Kandel as saying.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, meteorologist Kandel said that the impact of the monsoon wind will however weaken after some days. It has been raining continuously due to the monsoon that has become active three days before the usual date this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Meteorology said the weather will remain partly to generally cloudy throughout the country with light rainfall and possibility of thunder on Sunday (today) and Monday (June 21).</span></span></span></p>

<p>&nbsp;</p>
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			'sortorder' => '13304',
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			'article_date' => '2021-06-20 11:51:59',
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			'id' => '13558',
			'article_category_id' => '1',
			'title' => 'Nepal Urges Development Partners to Help Address Investment Gaps ',
			'sub_title' => '',
			'summary' => 'June 20: Deputy Prime Minister (DPM) and Minister for Foreign Affairs Raghubir Mahaseth has said that Nepal’s graduation from the LDC category would be an important milestone in the country’s development trajectory.     ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 20: Deputy Prime Minister (DPM) and Minister for Foreign Affairs Raghubir Mahaseth has said that Nepal&rsquo;s graduation from the LDC category would be an important milestone in the country&rsquo;s development trajectory.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Addressing the &lsquo;Joint Thematic Event of the UN General Assembly and Economic and Social Council on Least Developed Countries&rsquo; through a pre-recorded video on Saturday (June 19), DPM Mahaseth expressed Nepal&rsquo;s commitment to make the graduation process smooth and sustainable by mobilizing finance from public as well as private sectors, and internal as well as external sources.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">DPM Mahaseth stressed that the development partners need to live up to their financing commitments to help address the investment gaps in the LDCs. He also called for international community&rsquo;s support in line with the LDCs&rsquo; development needs, including in the areas of productive capacity, infrastructure, energy, and connectivity.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Referring to the unrealized target of the Istanbul Programme of Action to enable graduation of half of the LDCs, he underlined the need to scale up collective action to match the collective ambition. The foreign minister further stressed that the United Nations Fifth Conference on the LDCs to be held in Doha in January 2022 must be a conference of hope offering adequate financing and means of implementation to ensure that the LDCs will not be left behind.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The thematic event was jointly organized under the theme of &lsquo;Diversifying the Financing Toolbox to Enhance Investment in Least Developed Countries&rsquo; by the President of General Assembly and the President of ECOSOC at UN Headquarters, New York. A number of Ministers and high-level participants attended the event, according to the Permanent Mission of Nepal to the United Nations. -- RSS&nbsp;&nbsp; </span></span></span></p>
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			'sortorder' => '13303',
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			'article_date' => '2021-06-20 11:37:42',
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			'id' => '13557',
			'article_category_id' => '1',
			'title' => 'Nepal’s deposits in Swiss banks fourth largest among South Asian nations',
			'sub_title' => 'As Nepal has banned transfer of money abroad, the money held by Swiss banks could have been transferred ‘illegally’',
			'summary' => 'Funds deposited by Nepali individuals and firms in Swiss banks more than doubled to 360.82 million Swiss Francs in 2020.',
			'content' => '<p><strong>Sagar Ghimire</strong></p>

<p>Kathmandu, June 19: Funds deposited by Nepali individuals and firms in Swiss banks more than doubled to 360.82 million Swiss Francs (over Rs 46.18 billion in today&rsquo;s exchange rate) in 2020, making Nepal the fourth largest depositor of cash in Switzerland among South Asian countries.</p>

<p>Nepalis have never parked such a huge amount of money in Swiss banks in the last 25 years, shows the 2020 report of the Swiss National Bank (SNB), the Swiss central bank. Deposits of Nepalis in Swiss banks stood at 175.9 million Swiss Francs (CHF) (nearly Rs 22.51 billion) in 2019. That amount jumped 105.2 percent in 2020 to reach CHF 360.8 million. The amount parked by Nepalis is fourth largest among South Asian countries, after India (CHF 2.6 billion), Pakistan (CHF 642.3 million) and Bangladesh (CHF 562.9 million).<img alt="" src="/app/webroot/userfiles/images/Nepali%20Deposits%20in%20Swiss%20Banks.JPG" style="float:right; height:275px; width:450px" /></p>

<p>Since Nepal&rsquo;s laws and regulations bar the citizens and companies from transferring funds abroad without the central bank&rsquo;s approval, officials believe that the deposits in Swiss banks&mdash;referred by the Swiss central bank as &lsquo;liabilities of its banks&rsquo; to Nepali clients&mdash;could have been transferred illegally.&nbsp;</p>

<p>The data of the Swiss central bank shows that Nepalis&rsquo; deposits had fallen 29 percent in 2019 from CHF 248.79 million (Rs 32.85 billion) in 2018.</p>

<p>As Swiss banks maintain highest degree of secrecy of their clients, it is not clear who these Nepali individuals or firms are and how they managed to park their funds in Switzerland.</p>

<p>Switzerland has long been perceived as one of the most preferred safe havens for many individuals and firms from across the world to stash their funds.</p>

<p>Such secrecy could also make it vulnerable to abuse of the banking system to park ill-gotten money by launderers or criminals, according to experts.&nbsp;</p>

<p>Switzerland has ranked third in Financial Secrecy Index of 133 jurisdictions in 2020 by The Tax Justice Network.</p>

<p>Switzerland, however, has been dismissing such concerns, claiming that it is always committed to the integrity of the global financial system and to abiding by international transparency standards.</p>

<p>Officials at the Nepal Rastra Bank (NRB)&mdash;the central regulatory bank of Nepal&mdash;say that they are unaware about the SNB&rsquo;s recently released data.</p>

<p>&ldquo;I cannot comment on the case that you are referring to. However, what I can say is that Nepali citizens and firms are not allowed to &nbsp;send money abroad except in certain conditions like to import goods through the use of letters of credit or to repatriate dividend provided by businesses operated by foreign investors in Nepal,&rdquo; said Neelam Dhungana Timsina, a deputy governor at the NRB. &ldquo;We do not have capital account convertibility. So, we do not allow overseas fund transfers easily,&rdquo; added NRB Deputy Governor Timsina who oversees Foreign Exchange Management Department at the central bank.</p>
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			'id' => '13556',
			'article_category_id' => '1',
			'title' => 'Nepal Receives 982 Oxygen Concentrators Financed by World Bank ',
			'sub_title' => '',
			'summary' => 'Nepal received 982 units of 10-liter oxygen concentrators, financed by the World Bank today.',
			'content' => '<p>June 19: &nbsp;Nepal received 982 units of 10-liter oxygen concentrators, financed by the World Bank today.</p>

<p>Issuing a statement on Saturday, the World Bank said that the concentrators are part of a long-term solution for augmenting Nepal&rsquo;s capacities to supply therapeutic oxygen to public health facilities towards a stronger response to the COVID-19 pandemic.</p>

<p>&ldquo;I am very pleased that we have been able to quickly bring in the oxygen concentrators, which will be dispatched to health facilities of greatest need across all seven provinces of the country,&rdquo; the statement quoted Sher Bahadur Tamang, Minister of Health and Population, as saying. &ldquo;The government is working hard to strengthen availability of medical oxygen in all the public health facilities of Nepal, such that every Nepali citizen requiring oxygen is able to access it.&rdquo;</p>

<p>According to the statement, the oxygen concentrators were procured through United Nations Office for Project Services (UNOPS) under the World Bank-financed COVID-19 Emergency Response and Health Systems Preparedness Project, which has also financed seven oxygen generation plants, one for each province in Nepal.&nbsp;</p>

<p>These plants will be brought in, installed and operationalized by UNOPS in a phased manner in seven provincial hospitals, in the next 6-15 weeks, said the statement.</p>

<p>&nbsp;&ldquo;The World Bank has made available $104 million to support Nepal&rsquo;s immediate health response to the pandemic, including the procurement of life-saving COVID-19 vaccines, and strengthening the country&rsquo;s health systems and preparedness,&rdquo; the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka, as saying. &ldquo;We are committed to support Nepal and Nepalis during this crisis, and by joining forces with the government and development partners, we have been able to have more impact.&rdquo;</p>
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		'Article' => array(
			'id' => '13555',
			'article_category_id' => '1',
			'title' => 'Govt Urged to Create Legal Framework Within One Year to Secure Cyberspace ',
			'sub_title' => '',
			'summary' => 'Federation of Computer Association of Nepal, Center for Cyber Security Research and Innovation and Information Security Response Team Nepal have jointly urged the government to prepare legal and regulatory framework for secure cyberspace within a year and build organizational structure and infrastructure required for it within six months',
			'content' => '<p>June 19:&nbsp;Federation of Computer Association of Nepal, Center for Cyber Security Research and Innovation and Information Security Response Team Nepal have jointly urged the government to prepare legal and regulatory framework for secure cyberspace within a year and build organizational structure and infrastructure required for it within six months.</p>

<p>While submitting the suggestions over draft of National Cyber Security Policy 2021, they have asked the government to maintain the legal and organizational requirements for sensitive issues like cybersecurity at the earliest.&nbsp;</p>

<p>The draft has set a target of having a regulatory and legal framework for reliable, secure and resilient cyberspace in three years setting up organizational structures and infrastructures in five years.<br />
A delegation team of representatives from these three organizations met Hari Prasad Basyal, Secretary of Ministry for Communication and Information Technology, and suggested formulating laws &nbsp;to control the cyber crime, strengthen cyber security in provincial and central level.</p>

<p>They have also suggested making use of free and accessible digital signatures mandatory for &nbsp;government, non-government and private organizations.&nbsp;</p>
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			'id' => '13568',
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			'title' => 'Stakeholders Seek Fair Distribution of Government Advertisements ',
			'sub_title' => '',
			'summary' => 'June 22: Business leaders and advertising experts have urged the government to distribute its advertisements equally through one basket.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 22: Business leaders and advertising experts have urged the government to distribute its advertisements equally through one basket.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Stating that the government is one of the major advertisers in the country, experts expressed concerns over the lack of transparent, competitive and fair process to distribute the government&rsquo;s advertisements. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Speaking at a programme organized on June 21 by the Advertising Association of Nepal (AAN) to mark its 31<sup>st</sup> anniversary, advertising experts also expressed the need for a national advertising policy, expansion of the advertising market and the code of conduct to monitor the advertising market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Shubha Shankar Kandel, chairman of Nepal Media Society, said that all advertisements should be brought together under one basket and distributed among different media equally. He further said the advertising market lacks a fair, transparent competitive environment and customers are not getting the right information about the quality of products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similarly, Laxman Humagain, president of the Advertisement Board, said that a national advertising policy and code of conduct should be formulated on what kind of advertisement should be produced and the rights of customers to be informed with genuine information about the quality of product. He stated that a prosperous advertising market requires the development of industries. Advertising is the indicator of industrialization and the standard of life of people.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to Jyoti Baniya, chairperson of Consumer Welfare Protection Forum, the target group of advertising market is the customers of the product so the practice of developing advertising content with false claims should be monitored.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Shekhar Golchha, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said advertising is the medium to connect with the customers. Without advertisements, all the products and brands would look similar and wouldn&#39;t be able to compete, said Golchha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">On the other hand, Bhaskar Raj Rajkarnikar, chairman of Media Alliance Nepal, said that the quality of the content of advertisement determines the expansion of the advertising market. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;Good contents attract investors and the advertising players will also follow suit,&rdquo; he said. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Meanwhile, Som Prasad Dhital, president of the Advertising Association of Nepal (AAN), stated that the advertising market has created job opportunities for 33,000 people and this number should be maintained with the collaboration among the media and the Advertisement Board.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><strong>&nbsp;</strong></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Contribution of Small and Cottage Industries Vital for Economy: NRB Governor ',
			'sub_title' => '',
			'summary' => 'June 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari stated that small and cottage industries have made significant contribution to the national economy, the state-owned national news agency RSS reported.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 22: Nepal Rastra Bank&rsquo;s (NRB) Governor Maha Prasad Adhikari stated that small and cottage industries have made significant contribution to the national economy, the state-owned national news agency RSS reported.</span><br />
&nbsp;<span style="font-family:&quot;Arial Unicode MS&quot;">During a virtual interaction with the officials of the Federation of Nepali Cottage and Industries on Monday, Governor Adhikari said, &quot;There are a lot of small and mid-scale industries which contribute much to the country&#39;s economy.&quot; </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, Governor Adhikari said that NRB has kept this sector in priority list in its policy, and also asserted that the monetary policy of the current fiscal year was intended to bring historic change.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the occasion, Chairman of the Federation Shyam Giri demanded the Governor to exempt the interest of loan during the lockdown period. He further said the refinancing work procedure should be re-written in case of small industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Former Chairpersons of the Federation, Suresh Pradhan and Lata Pyakurel and senior Vice Chairperson Umesh Prasad Singh, among others urged the NRB to pay heed to the demands of the small-scale and cottage industries.&nbsp;&nbsp;&nbsp;&nbsp; </span><span style="font-family:&quot;Arial Unicode MS&quot;">&nbsp;&nbsp; </span></span></span></p>
',
			'published' => true,
			'created' => '2021-06-22',
			'modified' => '2021-06-22',
			'keywords' => '',
			'description' => '',
			'sortorder' => '13313',
			'image' => '20210622101926_1624288182.governer.jpg',
			'article_date' => '2021-06-22 10:18:27',
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	(int) 2 => array(
		'Article' => array(
			'id' => '13567',
			'article_category_id' => '1',
			'title' => '     Delta Variant’s Mutation Detected in Nepal ',
			'sub_title' => '',
			'summary' => 'June 21: The Delta variant’s mutation of coronavirus has been detected in Nepal.   ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">June 21: The Delta variant&rsquo;s mutation of coronavirus has been detected in Nepal.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Ministry of Health and Population, the mutated forms of the Delta variant were confirmed in nine samples while conducting gene sequencing in New Delhi, India.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Deputy-Spokesperson at the Ministry Dr Samir Adhikari shared that among the 47 Delta variants confirmed during the gene sequencing, nine new K417 N mutations were detected and have been named AY.1.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Cases of AY.1 have been detected in 10 countries including Nepal, according to the Ministry. PCR samples collected from various countries and from various age group were collected in mid-June and were sent to India for gene sequencing.&nbsp;&nbsp;&nbsp;&nbsp; </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">So far, Alfa (B.1.1.7), Delta (B.1.617.2), Kappa (B.1.617.1) variants have been detected in Nepal, said Spokesperson at the Ministry Dr Krishna Poudel, adding that the Delta variant is highly contagious and dangerous. </span></span><br />
<span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry has urged one and all to comply with the health safety protocols to prevent infection from the new mutated form of the Delta variant of novel coronavirus. -- RSS&nbsp; </span></span></span></span></p>
',
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			'created' => '2021-06-21',
			'modified' => '2021-06-21',
			'keywords' => '',
			'description' => '',
			'sortorder' => '13312',
			'image' => '20210621111631_DeltaVariant.jpg',
			'article_date' => '2021-06-21 23:15:15',
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	(int) 3 => array(
		'Article' => array(
			'id' => '13566',
			'article_category_id' => '1',
			'title' => ' As NEPSE Takes a Nosedive, Investors Lose Rs 98 Billion ',
			'sub_title' => '',
			'summary' => 'June 21: The Nepal Stock Exchange (NEPSE) suffered a sharp fall on Monday, incurring a loss of Rs 98 billion to the investors. ',
			'content' => '<p><span style="font-size:18px"><span style="font-family:Cambria">June 21: <span style="font-family:&quot;Arial Unicode MS&quot;">The Nepal Stock Exchange (NEPSE) suffered a sharp fall on Monday, incurring a loss of Rs 98 billion to the investors.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The NEPSE index closed at 2,834.40 points with a fall by 71.06 points, according to the state-owned national news agency RSS. The total market capitalization was reduced to Rs 3937.67 billion on Monday against the market capitalization of Rs 4036.39 billion on Sunday.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, the sensitive index to measure the big companies&rsquo; trading decreased by 8.37 points and closed at 520.18 points. According to NEPSE, more than 22.52 million unit shares of 227 companies were traded at Rs 11.61 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">All 13 sectors suffered loss with banking sector losing 34.22 points, trade sector (29.63 points), hotel and tourism (165.84 points), development banks (210.21 points), hydropower (150.24 points) and finance (120.22 points).&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">On the basis of trading volume, Nepal Reinsurance Company (NRIC) stood atop the list for trading the company&rsquo;s shares worth Rs 1.30 billion.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Amid the freefall of NEPSE, the shares of Narayani Development Bank, Hydroelectricity Investment and Development Company Limited (HIDCL), NBBL Debenture, SBL Debenture and NABIL Bond 2082 increased in the market.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, Pokhara Finance, Universal Power, Union Hydropower, Himal Dolakha Hydropower and Liberty Energy remained the top losers in the share market.&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><br />
&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '13311',
			'image' => '20210621111037_stock-mar.jpg',
			'article_date' => '2021-06-21 23:09:39',
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	(int) 4 => array(
		'Article' => array(
			'id' => '13565',
			'article_category_id' => '1',
			'title' => 'Himalayan Reinsurance Company likely to Come into Operation from July 1',
			'sub_title' => '',
			'summary' => 'June 21: The Himalayan Reinsurance Company, which has received approval in principle for the establishment of the company, is making necessary preparation to start its operation from July 1.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 21: The Himalayan Reinsurance Company, which has received approval in principle for the establishment of the company, is making necessary preparation to start its operation from July 1. The insurance company had received approval in principle from the Insurance Board for the establishment of the company in the first week of June. The founders are preparing to operate the company within July after completing all the necessary processes.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">After receiving the approval, the Himalayan Reinsuirance Company has been registered with the Company Registrar&#39;s Office. In addition, equity investment (Rs. 7 billion) has also been raised for institutional investment.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The office of the company has been established in Baluwatar. Shekhar Golchha has been appointed as the chairman of the company. Entrepreneur Pashupati Murarka, one of the founding investors, said that an application has already been submitted to the Insurance Board seeking permission to operate the company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We have already submitted application to the Insurance Board for the final approval. The process is almost complete,&rdquo; Muraraka said, adding, &ldquo;Overall, we are preparing to bring the company into operation from July 1.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&nbsp;Murarka is confident that the final approval to operate the company will be received from the Insurance Board within a week.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Executive Director of the Insurance Board Rajuraman Poudel also said that preparations are underway to give final approval to Himalayan Reinsurance Company. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Once the approval in principle is given, there is no problem in giving final approval. We have received information that the company has raised capital,&rdquo; said Poudel, adding, &ldquo;We will give the final approval to the company soon.&quot;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The paid-up capital of this privately owned company is Rs 10 billion. Institutional investment is Rs 7 billion. The remaining Rs 3 billion will be raised through IPOs, Murarka said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The main share investor of the company is Jagdamba (Shankar) Group. Likewise, the outgoing president of the Federation of Nepalese Chambers of Commerce and Industry Bhawani Rana, current president Shekhar Golchha, former president of the federation Pashupati Murarka, businessman Shahil Agrawal and other individuals and various business houses will have their stakes in the reinsurance company. The Board said that Lucky Group, Dugad Group, and other business houses have also invested in the Himalaya Reinsurance Company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Currently, the state-owned Nepal Reinsurance Company is the only reinsurance company operating in Nepal. A study committee formed by the Insurance Board had also shown the need for an additional reinsurance company. The Board then proceeded with the process of establishing a new reinsurance company owned by the private sector. Five companies had applied for establishing the proposed reinsurance company. Out of them, the Insurance Board decided to give approval in principle to Himalayan Reinsurance. Other companies that had filed applications were Kathmandu Reinsurance Company, Annapurna Reinsurance Company, Prudential Reinsurance Company and Genuine Reinsurance Company. According to the Board, the Himalayan Reinsurance received the approval in principle as it met the evaluation requirements based on the prescribed criteria.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '13564',
			'article_category_id' => '1',
			'title' => 'Police Investigating Case of Smuggled Chinese Apples',
			'sub_title' => '',
			'summary' => 'June 21: Police officials in Nepal and India have been suspended after 1,350 cartons of Chinese apples loaded on three Nepali trucks were seized by Indian security forces. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 21: Police officials in Nepal and India have been suspended after 1,350 cartons of Chinese apples loaded on three Nepali trucks were seized by Indian security forces. After seizing the apples that are banned in India, it has been revealed that the apples were being smuggled to India in collusion with police.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Four Nepal border police personnel and Indian border police have been suspended after three trucks with apples were seized in Birpur, India five days ago.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Three Nepali trucks parked inside a brick kiln in Birpur, India are now under the control of the Indian SSB. A total of 34 Nepal Police personnel from the border police post and area police office, have been called to the District Police Office, Sunsari, from their workplaces on the charge of smuggling Chinese apples to India. Similarly, 15 security personnel of the Armed Police Force have been called from their workplace.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Nepal Police and APF have formed separate committees led by SSP and started investigation after the trucks reached India from Laukahi border of Sunsari under the protection of Sunsari Police.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson and SP of provincial police office Biratnagar, Mahendra Kumar Shrestha informed that a five-member investigation committee has been formed under the coordination of SSP Rajendra Prasad Chaudhary of the Federal Police Unit Office Dharan. The investigation committee consists of DSP Laxmi Bhandari, Inspector Mohan Rayamajhi and three other junior police officers.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">DIG of Armed Police Force Banshi Raj Dahal said that a three-member investigation committee has been formed under the leadership of SSP Prakash Thapa and DSP Navin Bogati of APF No.1 Brigade Headquarters, Sunsari. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;The team has started investigation on whose involvement the apples reached India from the checkpoint,&rdquo; said Dahal, &ldquo;Based on the report given by the investigation team, we will take appropriate action.&rdquo;&nbsp;</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '13563',
			'article_category_id' => '1',
			'title' => 'Water Supply from Melamchi to be Further Delayed',
			'sub_title' => '',
			'summary' => 'June 21: Water supply from Melamchi to Kathmandu will be delayed due to the damage made by the recent flood.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">June 21: Water supply from Melamchi to Kathmandu will be delayed due to the damage made by the recent flood. On July 20, the Melamchi Water Supply Project had halted water supply to Kathmandu for two months to inspect and test the tunnel.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">However, the damage caused by the flood of last Tuesday is likely to further delay the water supply to the valley.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The flood had caused extensive damage at Ambathan, the main dam site of the Sindhupalchok-based project. The Melamchi Water Supply Board had earlier issued a notice that Melamchi water would not be distributed in Kathmandu till mid-August for tunnel testing and inspection. It has been decided that there will be no water for a few more months after the project site was damaged due to floods and landslides in Melamchi with the onset of the monsoon.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">Spokesperson of the board Rajendra Prasad Pant said that it is not possible to supply the water on the scheduled date due to the post-flood situation. He said that water can be supplied after a few months of the scheduled time with the help of the Department of Roads, the Nepal Army, and local stakeholders.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">&quot;The amount of time it takes to repair the damaged infrastructures like roads, camps, bridges at the project site will determine the amount of water supply,&quot; Pant said.&nbsp;</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He informed that the affected areas could not be reached due to the rising water level of the river. Project officials are preparing to visit the project site on Monday. &quot;Efforts have been made to repair the flood-damaged road from Melamchi Bazaar. We have not been able to reach there,&quot; Pant said.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">He said that the details could not be obtained. The access road from Melamchi Bazaar to the project site is 21 kilometers away.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">About half of the road needs to be repaired. With construction materials as well as equipment and camps flooded, it is unlikely that water will be distributed in the valley on time.</span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:&quot;Times New Roman&quot;">The board has collaborated with various agencies to start the road maintenance work from Melamchi Bazaar.</span></span></span></p>

<p>&nbsp;</p>
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			'image' => '20210621015904_20210611103908_1623336277.melamchi.jpg',
			'article_date' => '2021-06-21 13:58:22',
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	(int) 7 => array(
		'Article' => array(
			'id' => '13562',
			'article_category_id' => '1',
			'title' => 'Government Eases Restrictions, Extends Prohibitory Order by 1 Week',
			'sub_title' => '',
			'summary' => 'June 21: Government authorities have extended prohibitory order in Kathmandu valley by one more week. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 21: Government authorities have extended prohibitory order in Kathmandu valley by one more week. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">A meeting of the chief district officers of Kathmandu, Lalitpur and Bhaktapur took a decision to this effect on Sunday (June 21). With the latest decision, the prohibitory order will remain in force till June 28. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Despite the extension of the prohibitory order, the government has eased the restrictions and partially opened certain sectors.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Private vehicles as well as taxis will be allowed to operate from tomorrow as per the odd-even rule. However, four-wheelers will be allowed to carry a maximum of three passengers.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Although the authorities have allowed to operate vehicles inside the valley, security forces have been instructed to take strict measures at entry points of the valley. Except for ambulance and vehicles of security forces as well as those carrying essential goods and the ones with passes, other vehicles will not be allowed entry into the valley. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The meeting has also decided people to move freely in the valley by maintaining physical&nbsp; distance.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to CDO of Kathmandu Kali Prasad Parajuli, certain week days have been marked for different categories of shops to operate from 11 in the morning to 4 in the evening. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">However, the opening time of shops selling milk and vegetables, fruits, meat shops as well as grocery stores, stationery shops has not been changed. Those shops will be allowed to open daily till 11 am. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, departmental stores, shopping malls, ready-made garment shops, fancy dress stores, gift shops and tailoring shops will be allowed to open on Monday, Wednesday and Friday.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Similarly, jewelry shops as well as shops selling utensils, automobile spare-parts and showrooms, mobile shops among others will be allowed to open on Sunday, Tuesday and Thursday. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Likewise, shops selling construction materials and hardware stores, furniture shops, electric shops will be open from 11 am to 6 pm while online delivery and workshops will be allowed till 7 pm.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, ban on roadside vendors will remain in force considering the risk of spreading coronavirus from footpath stalls.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Schools, party palaces, cinema halls, dance bar, saloons, beauty parlours, libraries, gyms, museums and zoo will remain closed during this period.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The prohibitory order has remained in force since April 29 following the outbreak of second wave of coronavirus in the country.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
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			'id' => '13560',
			'article_category_id' => '1',
			'title' => 'Farmers Selling Paddy at Half the Support Price',
			'sub_title' => '',
			'summary' => 'June 20: Farmers have been forced to sell paddy to traders at half the support price set by the government as the state-owned Food Management and Trading Company Limited (FMTC) did not buy paddy this year.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 20: Farmers have been forced to sell paddy to traders at half the support price set by the government as the state-owned Food Management and Trading Company Limited (FMTC) did not buy paddy this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The government had set the minimum support prices with the aim to support the farmers. The government had fixed the price of medium paddy at Rs 2,885 per quintal and coarse paddy at Rs 2,735 per quintal for the fiscal year 2077/78. However, as the company has not shown any interest in purchasing paddy, the farmers say that they have to sell paddy at Rs 1,400 to Rs 1,500 per quintal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Bhubaneswar Yadav, a Sunsari-based farmer, expressed his dissatisfaction as he had to sell his paddy at Rs 1,500 per quintal. He says that the government has fooled them in the name of support price. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&ldquo;We had harvested paddy in such a large quantity with the hope that we will get a reasonable price as the government had fixed the minimum support price. But after selling the paddy in such a throw-away price, our hard work has gone in vain,&rdquo; he told New Business Age.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Similar is the situation of other farmers like Yadav. Agni Aryal, coordinator of Rajaur Paddy Superzone, said that although the production of paddy has been good in Bardiya this year, the farmers have not been able to get a fair price. According to him, the farmers of Bardiya are selling paddy at Rs 1,400 per quintal.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The Ministry of Agriculture and Livestock Development informed that out of the total cultivable land of 1.35 million hectares, paddy has been cultivated in more than 100,000 hectares of land in Sunsari, Morang, Jhapa, Bara, Parsa, Sarlahi, Chitwan, Dang, Banke, Bardiya and Kailali districts this year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to the ministry, the state-owned company has not been able to buy paddy from the farmers as the procurement target of the government is already met. Information officer of FMTC Sharmila Neupane Subedi also said that they cannot buy paddy as the target has already been met.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">The company had initially set a target of purchasing 60,000 metric tons of paddy for the fiscal year 2077/78. However, as the quantity could not be procured, the target was revised to 34,700 metric tons. The target has been reduced as the minimum support price set by the government is higher than the market price and the company has to bear loss when they have to sell paddy at the subsidized price.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times">&nbsp;</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13561',
			'article_category_id' => '1',
			'title' => 'Hydropower Projects Incur Loss of Rs 10 Billion due to Floods: IPPAN',
			'sub_title' => '',
			'summary' => 'June 20: Hydropower projects promoted by the private sector have incurred an estimated loss of Rs 10 billion due to the floods and landslides that occurred in various districts last week.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">June 20: Hydropower projects promoted by the private sector have incurred an estimated loss of Rs 10 billion due to the floods and landslides that occurred in various districts last week. A preliminary study conducted by the Independent Power Producers&rsquo; Association of Nepal (IPPAN) has estimated the loss at around Rs 10 billion.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Krishna Prasad Acharya, chairman of IPPAN, claimed that the floods have caused a loss of Rs 10 billion to hydropower projects operated by the private sector. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">&quot;Our preliminary study has pointed to the damage of this scale,&rdquo; he told New Business Age, adding, &quot;We have demanded the government to form a high-level mechanism to study the losses caused by the floods.&quot;&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Hydropower projects have been badly affected by last week&#39;s floods and landslides. Particularly, the under-construction projects have been more affected. Projects have suffered damages like sweeping away of construction materials, inundation of power house and destruction of dam. Similarly, transmission line towers have collapsed and roads connecting to the project area have been destroyed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to IPPAN , 42 MW Supermardi Hydropower Project being constructed in Kaski has incurred significant damage. Acharya said that most of the construction materials have been washed away by the floods. Along with the formation of high-level mechanism to study into the details of loss incurred, IPPAN has also sought for appropriate relief packages to the affected projects.&nbsp;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Issuing a press statement on Friday, June 18, IPPAN has urged the government to set up a high-level mechanism. IPPAN has demanded to form the committee representing the ministries of finance, energy and home affairs. Acharya said that the committee should also have representation from private energy producers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that appropriate relief should be distributed after studying the extent of the damage incurred. &quot;This time, the damage incurred is not minimal. If the loss amounted to two to four million rupees, we could have handled it. But the loss amounts to billions. So the government needs to bring necessary relief package for the affected projects.&quot;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">According to IPPAN, the under-construction projects might be delayed by at least one year due to the loss incurred. The relief packages should also address this issue. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">IPPAN has also demanded immediate reconstruction of the destroyed roads leading to the project site and repair of transmission lines damaged by the floods.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '13559',
			'article_category_id' => '1',
			'title' => 'Monsoon Unlikely to Weaken Soon: Meteorologist',
			'sub_title' => '',
			'summary' => 'June 20: Meteorologists have warned that the monsoon that has become active since the last few days will not be weakening immediately. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 20: Meteorologists have warned that the monsoon that has become active since the last few days will not be weakening immediately. </span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">According to meteorologist at the Department of Hydrology and Meteorology, Shanti Kandel, the monsoon is not likely to weaken anytime soon since it has become active from the very beginning this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">&quot;The influence of monsoon will remain for still some more days. Therefore, the trend of rainfall will continue for few more days,&quot; the state owned national news agency RSS quoted Kandel as saying.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">According to RSS, meteorologist Kandel said that the impact of the monsoon wind will however weaken after some days. It has been raining continuously due to the monsoon that has become active three days before the usual date this year.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The Department of Meteorology said the weather will remain partly to generally cloudy throughout the country with light rainfall and possibility of thunder on Sunday (today) and Monday (June 21).</span></span></span></p>

<p>&nbsp;</p>
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			'article_date' => '2021-06-20 11:51:59',
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	(int) 11 => array(
		'Article' => array(
			'id' => '13558',
			'article_category_id' => '1',
			'title' => 'Nepal Urges Development Partners to Help Address Investment Gaps ',
			'sub_title' => '',
			'summary' => 'June 20: Deputy Prime Minister (DPM) and Minister for Foreign Affairs Raghubir Mahaseth has said that Nepal’s graduation from the LDC category would be an important milestone in the country’s development trajectory.     ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:&quot;Arial Unicode MS&quot;">June 20: Deputy Prime Minister (DPM) and Minister for Foreign Affairs Raghubir Mahaseth has said that Nepal&rsquo;s graduation from the LDC category would be an important milestone in the country&rsquo;s development trajectory.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Addressing the &lsquo;Joint Thematic Event of the UN General Assembly and Economic and Social Council on Least Developed Countries&rsquo; through a pre-recorded video on Saturday (June 19), DPM Mahaseth expressed Nepal&rsquo;s commitment to make the graduation process smooth and sustainable by mobilizing finance from public as well as private sectors, and internal as well as external sources.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">DPM Mahaseth stressed that the development partners need to live up to their financing commitments to help address the investment gaps in the LDCs. He also called for international community&rsquo;s support in line with the LDCs&rsquo; development needs, including in the areas of productive capacity, infrastructure, energy, and connectivity.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">Referring to the unrealized target of the Istanbul Programme of Action to enable graduation of half of the LDCs, he underlined the need to scale up collective action to match the collective ambition. The foreign minister further stressed that the United Nations Fifth Conference on the LDCs to be held in Doha in January 2022 must be a conference of hope offering adequate financing and means of implementation to ensure that the LDCs will not be left behind.&nbsp;&nbsp;&nbsp;&nbsp; </span><br />
<span style="font-family:&quot;Arial Unicode MS&quot;">The thematic event was jointly organized under the theme of &lsquo;Diversifying the Financing Toolbox to Enhance Investment in Least Developed Countries&rsquo; by the President of General Assembly and the President of ECOSOC at UN Headquarters, New York. A number of Ministers and high-level participants attended the event, according to the Permanent Mission of Nepal to the United Nations. -- RSS&nbsp;&nbsp; </span></span></span></p>
',
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			'sortorder' => '13303',
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			'article_date' => '2021-06-20 11:37:42',
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	(int) 12 => array(
		'Article' => array(
			'id' => '13557',
			'article_category_id' => '1',
			'title' => 'Nepal’s deposits in Swiss banks fourth largest among South Asian nations',
			'sub_title' => 'As Nepal has banned transfer of money abroad, the money held by Swiss banks could have been transferred ‘illegally’',
			'summary' => 'Funds deposited by Nepali individuals and firms in Swiss banks more than doubled to 360.82 million Swiss Francs in 2020.',
			'content' => '<p><strong>Sagar Ghimire</strong></p>

<p>Kathmandu, June 19: Funds deposited by Nepali individuals and firms in Swiss banks more than doubled to 360.82 million Swiss Francs (over Rs 46.18 billion in today&rsquo;s exchange rate) in 2020, making Nepal the fourth largest depositor of cash in Switzerland among South Asian countries.</p>

<p>Nepalis have never parked such a huge amount of money in Swiss banks in the last 25 years, shows the 2020 report of the Swiss National Bank (SNB), the Swiss central bank. Deposits of Nepalis in Swiss banks stood at 175.9 million Swiss Francs (CHF) (nearly Rs 22.51 billion) in 2019. That amount jumped 105.2 percent in 2020 to reach CHF 360.8 million. The amount parked by Nepalis is fourth largest among South Asian countries, after India (CHF 2.6 billion), Pakistan (CHF 642.3 million) and Bangladesh (CHF 562.9 million).<img alt="" src="/app/webroot/userfiles/images/Nepali%20Deposits%20in%20Swiss%20Banks.JPG" style="float:right; height:275px; width:450px" /></p>

<p>Since Nepal&rsquo;s laws and regulations bar the citizens and companies from transferring funds abroad without the central bank&rsquo;s approval, officials believe that the deposits in Swiss banks&mdash;referred by the Swiss central bank as &lsquo;liabilities of its banks&rsquo; to Nepali clients&mdash;could have been transferred illegally.&nbsp;</p>

<p>The data of the Swiss central bank shows that Nepalis&rsquo; deposits had fallen 29 percent in 2019 from CHF 248.79 million (Rs 32.85 billion) in 2018.</p>

<p>As Swiss banks maintain highest degree of secrecy of their clients, it is not clear who these Nepali individuals or firms are and how they managed to park their funds in Switzerland.</p>

<p>Switzerland has long been perceived as one of the most preferred safe havens for many individuals and firms from across the world to stash their funds.</p>

<p>Such secrecy could also make it vulnerable to abuse of the banking system to park ill-gotten money by launderers or criminals, according to experts.&nbsp;</p>

<p>Switzerland has ranked third in Financial Secrecy Index of 133 jurisdictions in 2020 by The Tax Justice Network.</p>

<p>Switzerland, however, has been dismissing such concerns, claiming that it is always committed to the integrity of the global financial system and to abiding by international transparency standards.</p>

<p>Officials at the Nepal Rastra Bank (NRB)&mdash;the central regulatory bank of Nepal&mdash;say that they are unaware about the SNB&rsquo;s recently released data.</p>

<p>&ldquo;I cannot comment on the case that you are referring to. However, what I can say is that Nepali citizens and firms are not allowed to &nbsp;send money abroad except in certain conditions like to import goods through the use of letters of credit or to repatriate dividend provided by businesses operated by foreign investors in Nepal,&rdquo; said Neelam Dhungana Timsina, a deputy governor at the NRB. &ldquo;We do not have capital account convertibility. So, we do not allow overseas fund transfers easily,&rdquo; added NRB Deputy Governor Timsina who oversees Foreign Exchange Management Department at the central bank.</p>
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		'Article' => array(
			'id' => '13556',
			'article_category_id' => '1',
			'title' => 'Nepal Receives 982 Oxygen Concentrators Financed by World Bank ',
			'sub_title' => '',
			'summary' => 'Nepal received 982 units of 10-liter oxygen concentrators, financed by the World Bank today.',
			'content' => '<p>June 19: &nbsp;Nepal received 982 units of 10-liter oxygen concentrators, financed by the World Bank today.</p>

<p>Issuing a statement on Saturday, the World Bank said that the concentrators are part of a long-term solution for augmenting Nepal&rsquo;s capacities to supply therapeutic oxygen to public health facilities towards a stronger response to the COVID-19 pandemic.</p>

<p>&ldquo;I am very pleased that we have been able to quickly bring in the oxygen concentrators, which will be dispatched to health facilities of greatest need across all seven provinces of the country,&rdquo; the statement quoted Sher Bahadur Tamang, Minister of Health and Population, as saying. &ldquo;The government is working hard to strengthen availability of medical oxygen in all the public health facilities of Nepal, such that every Nepali citizen requiring oxygen is able to access it.&rdquo;</p>

<p>According to the statement, the oxygen concentrators were procured through United Nations Office for Project Services (UNOPS) under the World Bank-financed COVID-19 Emergency Response and Health Systems Preparedness Project, which has also financed seven oxygen generation plants, one for each province in Nepal.&nbsp;</p>

<p>These plants will be brought in, installed and operationalized by UNOPS in a phased manner in seven provincial hospitals, in the next 6-15 weeks, said the statement.</p>

<p>&nbsp;&ldquo;The World Bank has made available $104 million to support Nepal&rsquo;s immediate health response to the pandemic, including the procurement of life-saving COVID-19 vaccines, and strengthening the country&rsquo;s health systems and preparedness,&rdquo; the statement quoted Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka, as saying. &ldquo;We are committed to support Nepal and Nepalis during this crisis, and by joining forces with the government and development partners, we have been able to have more impact.&rdquo;</p>
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			'article_date' => '2021-06-19 15:00:51',
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		'Article' => array(
			'id' => '13555',
			'article_category_id' => '1',
			'title' => 'Govt Urged to Create Legal Framework Within One Year to Secure Cyberspace ',
			'sub_title' => '',
			'summary' => 'Federation of Computer Association of Nepal, Center for Cyber Security Research and Innovation and Information Security Response Team Nepal have jointly urged the government to prepare legal and regulatory framework for secure cyberspace within a year and build organizational structure and infrastructure required for it within six months',
			'content' => '<p>June 19:&nbsp;Federation of Computer Association of Nepal, Center for Cyber Security Research and Innovation and Information Security Response Team Nepal have jointly urged the government to prepare legal and regulatory framework for secure cyberspace within a year and build organizational structure and infrastructure required for it within six months.</p>

<p>While submitting the suggestions over draft of National Cyber Security Policy 2021, they have asked the government to maintain the legal and organizational requirements for sensitive issues like cybersecurity at the earliest.&nbsp;</p>

<p>The draft has set a target of having a regulatory and legal framework for reliable, secure and resilient cyberspace in three years setting up organizational structures and infrastructures in five years.<br />
A delegation team of representatives from these three organizations met Hari Prasad Basyal, Secretary of Ministry for Communication and Information Technology, and suggested formulating laws &nbsp;to control the cyber crime, strengthen cyber security in provincial and central level.</p>

<p>They have also suggested making use of free and accessible digital signatures mandatory for &nbsp;government, non-government and private organizations.&nbsp;</p>
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FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00