June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after 75…
June 15: The private sector is expecting the industries and businesses along the Bara-Parsa corridor to gain momentum after the government eased prohibitory order after 75…
June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently.…
June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country…
June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open…
June 15: The Petroleum Tanker Drivers’ Association has halted the supply of…
June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity.…
June 14: The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development…
June 14: With the arrival of monsoon, any works related to road construction has been banned in eight districts including Kathmandu Valley.…
June 14: The government authorities in the Kathmandu Valley have extended the prohibitory order by one more week.…
June 13: The government has initiated the process of developing software for the One-Stop Service Centre two years after its establishment.…
June 13: Monsoon that entered Province 1, 2 and Bagmati Province since Friday has made its way to Gandaki and Lumbini Provinces from…
June 13: The World Bank has approved US$ 60 million to improve the quality of higher education in Nepal.…
June 13: Five former prime ministers have demanded the government to immediately withdraw the new arrangement made for the export of sand, aggregates, and stones through the budget for the upcoming fiscal year.…
Following a footstep of bank and financial institutions (BFIs), cooperatives are also pursuing merger in recent…
June 11: The market is currently reeling under shortage of paracetamol due to production cuts, artificial shortage and high demand for the essential drug in the market.…
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The restrictions that were imposed on April 29 have been relaxed since June 15.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">As per the government's directive, the local Covid-19 crisis management centers have eased public movement. However, there are fears that the virus might reappear due to the relaxation in restrictive orders.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Earlier, shops in Birgunj were allowed to open till 10 am, but it has now been extended till noon. In Bara, the opening time has been set at 11 am. The supply of daily essentials, construction materials, and agricultural products and equipment will be facilitated by opening shops. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Subodh Kumar Gupta, president of the Birgunj Chamber of Commerce and Industry, is confident that business activities will pick up pace as the restriction on production and supply has been eased.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">At present, industries other than food and medicine are almost closed,” Gupta said, adding, "There is no problem in transportation and production of raw materials. However, the manufactured goods could not be sold in the market.”</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry in Province 2, claimed that 60 percent of the industries in the Bara-Parsa corridor have been shut down due to the restrictions.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Except for producing essential goods, manufacturing of other products is closed. Producers of essential commodities have not been able to operate at full capacity,” Lath told New Business Age.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The business community argues that trade and business will not pick up pace unless markets and transportation are opened. Lath said that the workers have started returning to work. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"The supply of workers has eased somewhat. Coronavirus infection is under control and relaxation of the prohibitory order would help business activities to gain momentum," he said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Gupta said that most of the industries and commercial establishments were facing crisis.</span> <span style="font-family:"Times New Roman"">He said that they were unable to recovery money from the market due to the restriction on mobility and market activities. Due to this, there has been a problem of keeping the enterprise running, he added.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Chief Customs Officer at Birgunj Customs Harihar Poudel said that the decline in industrial and commercial activities has also affected the number of goods entering the country. Poudel informed that the import of most of the trade items has declined. According to Poudel, imports of food items, shoes, slippers, machinery parts, tools, paint industry materials, vehicles, fuel, and other items have declined.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Although the surge of the virus has decreased in recent days, there is a fear that the number of infections will increase after the prohibitory order is relaxed. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Gupta fears that the number of infection has declined due to the reduction in tests. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13283', 'image' => '20210615035229_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-06-15 15:51:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13536', 'article_category_id' => '1', 'title' => 'Businessmen Close Down Shops Permanently as Prohibitory Order gets Extended ', 'sub_title' => '', 'summary' => 'June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. They have started doing so as they are facing difficulty paying the rent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The prohibitory order issued by the government in the Kathmandu Valley on April 29 has been extended for one more week until June 21. The businessmen say that the extended lockdown has led them to vacate the shutters.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Nepal National Entrepreneurs’ Federation, more than 1,500 businessmen in the cities including Kathmandu Valley, Pokhara, Biratnagar, Butwal and Nepalgunj have vacated the shutters in the last one week. According to the president of the federation Naresh Katuwal, about 50 percent of businessmen who have vacated the shutters are from Kathmandu Valley. He said that the number of shutters vacated has increased in the main business hubs of Kathmandu including Thamel, New Road, Ason, Indrachowk, Koteshwor and Kalanki. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Most of those who have shut down their shops are small traders running fancy-dress stores, shoe shops and hotels. According to the federation, about 40 percent of the shutters for commercial purposes were vacated in Kathmandu Valley last year due to the extended lockdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Stating that small and medium entrepreneurs have been most affected by the lockdown last year and now, Katuwal said that they would disobey the government’s order if the lockdown is extended beyond June 22.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In addition, Baikuntha Dahal, general secretary of the National Trade Association New Road, said that if the government extends the lockdown again from next week, they would protest against the decision and resume their business.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">If the government keeps extending the lockdown, the businessmen say that their demand including waiver of interest on loan taken from banks and discount on the rent should be fulfilled.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Depending on the location, the traders have been paying a minimum rent of Rs 20,000 to Rs 200,000 in the main business centers of Kathmandu.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Due to the lockdown, small and medium-sized businesses that contribute about 22 percent of the country's gross domestic product and provide employment to more than 1.7 million people have been halted. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13282', 'image' => '20210615122136_20200828035107_20171127050546_thamel.jpg', 'article_date' => '2021-06-15 12:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13535', 'article_category_id' => '1', 'title' => '‘Proposal to Graduate Nepal from LDC status to be Presented for Endorsement' ', 'sub_title' => '', 'summary' => 'June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC), according to the state-owned national news agency RSS. In this connection, preparation is being made to get the final proposal endorsed from upcoming General Assembly of the United Nations. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS reported that the UN Economic and Social Council (ECOSOC) has principally given a consent to present the proposal in the upcoming UNGA for endorsement. The UNGA is taking place on September later this year. </span><br /> <span style="font-family:"Arial Unicode MS"">Chief of the Permanent Mission of Nepal to the United Nations in New York, Amrit Rai told RSS that a meeting of the UN’s ECOSOC held recently in New York also recommended Nepal being eligible to graduate to the country of mid-level income from the present status of low-income country and is presenting the proposal for endorsement in the upcoming UNGA. </span><br /> <span style="font-family:"Arial Unicode MS"">“Out of three stipulated criteria for graduation we had fulfilled two in 2015 and 2018 which paved our way for graduation,” RSS reported Rai. “Earlier, we had asked to put on hold the proposal for graduation due to the devastating earthquake. Now it is entering into the phase of endorsement,” Rai clarified. </span><br /> <span style="font-family:"Arial Unicode MS"">Nepal is in the list of eligible countries for graduate to developing country after meeting the two among the three criteria – per capita income in Gross Domestic Product, human asset index and economic and environmental vulnerability index. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, it requires three years for developing complementary plan of action for the transitional management following the endorsement of the graduation decision. However, heeding the request, UN has given Nepal an additional two years until 2026 owing to the troubled times caused by coronavirus. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13281', 'image' => '20210615114424_Nepal-PM-73rd-UNGA-Session.jpg', 'article_date' => '2021-06-15 11:43:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13537', 'article_category_id' => '1', 'title' => 'Private Sector to Construct 5 Hydropower Projects through BOT Model', 'sub_title' => '', 'summary' => 'June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1310.html">watch movie replicas</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1311.html">replica rolex watches</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1312.html">replica panerai watches for sale</a> </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government has decided to allow the private sector to build five projects of 169.42 MW capacity in two phases through competition. It is preparing to handover projects namely Dudhkoshi Hydropower Project-4 (47 MW), Sankhuwakhola Hydropower Project-1 (40.82MW), Lower Hongu Hydropower Project (30.20MW), Kawadikhola Hydropower Project (30 MW) and Ingu Khola Hydropower Project (21.40 MW) to the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">All these projects were studied by the Department of Electricity Development. The department had completed the study of these projects between 2018-2020. Madhu Prasad Bhetwal, spokesperson for the Ministry of Energy, Water Resources and Irrigation informed that the projects are being handed over to the private sector for construction.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In the first phase, proposals will be invited for the construction of Dudhkoshi-4, Sankhuwakhola-1, Lower Hongukhola and Ingu Khola hydropower projects to be constructed in Solukhumbu. Bhetwal said that applications will be invited in the second phase for the construction of Kawadikhola Hydropower Project to be built in Bajura.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Standard bidding process is being prepared to call for the applications for the four hydropower projects. After receiving approval from the ministry, the Department will call for application," he said, adding, "But infrastructure required for the construction of Kawadikhola have not been built. Once the required infrastructure is built, private sector will be permitted to build the project."</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Electricity of Dudhkoshi-4, Sankhuwakhola-1, Tallo Hongu and Ingu Khola hydropower projects will be connected to 132 KV Line substation, 132 KV Tumlingtar substation, 132 KV line substation respectively. Electricity of Kawadikhola Hydropower Project will be connected to 132 KV Mugu Karnali Hub.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">A secretary-level decision taken on August 20, 2020 had agreed to allow the private sector to develop the projects in the build, operate and transfer (BOT) model.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13280', 'image' => '20210615123209_20150823012330_ep1.jpg', 'article_date' => '2021-06-15 12:31:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13534', 'article_category_id' => '1', 'title' => ' Supply of Petroleum Products Obstructed ', 'sub_title' => '', 'summary' => 'June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel. They had threatened few weeks ago to stop the supply if they were not given COVID-19 vaccines. The association chair Ishwar Lama shared that they were compelled to halt the supplies as their demands were not heard by the concerned authorities. </span><br /> <span style="font-family:"Arial Unicode MS"">With this, smooth supply of the petroleum product, especially in private petrol pumps has been affected. He added that the internal supplies from Barauni, Amlekhgunj and other areas have been obstructed. The Bagmati Province Depot, Thankot has stated that the supplies have been obstructed from Sunday. </span><br /> <span style="font-family:"Arial Unicode MS"">Meanwhile, Nepal Petroleum Dealers’ National Association has stated that shortage of petroleum products may be witnessed from Tuesday (June 15) as the government is relaxing the prohibitory order in Kathmandu valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13279', 'image' => '20210615113009_20200802105911_petrolpump.jpg', 'article_date' => '2021-06-15 11:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13533', 'article_category_id' => '1', 'title' => 'Readymade Goods worth Rs 1 Billion Stuck in Warehouses due to Suspension of Export ', 'sub_title' => '', 'summary' => 'June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. Since the outbreak of Covid-19, both air and sea fares have gone up, leaving the readymade garment industry no option than to stockpile goods worth Rs 1 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The goods including half-pants, t-shirts, shirts, trousers produced by the industries even before the lockdown are still in the warehouse. Although there is a demand for readymade garments produced in Nepal from European countries at the moment, businessmen have not been able to export goods even if they wanted to due to the rise in shipping charges due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Exporters now have to pay up to three times more than usual shipping charges for exporting goods. Earlier, the price of goods exported to Europe and the United States by air was USD 3 per kg, but now it has grown to USD 9. Similarly, the fare is equally expensive via waterway. The Garment Association of Nepal has informed that shipping charge through waterways has increased from USD 1400 per container to USD 2200. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Readymade garments produced in Nepal are exported to European countries including Germany, France, Hungary, Denmark, Italy, Norway, and even to the USA, Australia, and Canada. The main market for Nepal’s readymade garments is Europe, where about 70 percent of Nepal-made products are consumed.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Even in last year's lockdown, goods worth more than Rs 1.5 billion were stuck in the warehouses. Ashok Agrawal, president of the association, said that the industries have reduced their production capacity to around 30 percent as they could not export their products due to the problems in paying rent. He also informed that the direct impact of the reduction in production is falling on the working class people involved in the industry. At present, 50 percent of the 10,000 workers of 50 industries in Nepal have lost their jobs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Exporting goods at high fares increases the cost of goods and we have to sell them at higher prices. When we try to sell at higher prices, foreigners start buying goods from other countries instead of buying our goods," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Compared to Nepal, the freight rates are cheaper for the countries connected to the sea. When Nepali businessmen have to pay for a truck and then a ship to Kolkata, it becomes expensive. Due to this, the cost of Nepali products becomes more expensive compared to other countries.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The demand for readymade garments tends to be seasonal. Therefore, the season of clothes in stock now ends soon and then it has to be held till the next season. That would cost the businessmen millions of additional charge. The textile industry, which is facing problems due to the ban on exports, is currently going through a crisis.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Therefore, the association demanded the government to provide concessional loans to the garment industry, which has been playing a big role in increasing employment and export of Nepal. The industry, which had a turnover of Rs 7 billion in the last fiscal year, is expected to see a sharp decline in the current fiscal year due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Fifteen years ago, there were about 1,200 readymade garment industries in Nepal. More than 100,000 workers were employed in those garment factries. Currently, only 50 readymade garment industries are in operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Entrepreneurs say that the cost of readymade garments produced in Nepal is more expensive than the readymade garments produced in other countries as the raw materials required for the industry have to be imported from abroad.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13278', 'image' => '20210614032849_20200421011816_1587419377.jpg', 'article_date' => '2021-06-14 15:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13532', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Demand vaccination for Workers in the Forefront of Development Works', 'sub_title' => '', 'summary' => 'June 14: The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14:<strong> </strong></span><span style="font-family:"Times New Roman"">The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work. On Sunday, the federation requested Minister for Culture, Tourism and Civil Aviation Uma Shankar Argaria to make arrangements for vaccination.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The federation also expressed its views with the minister regarding the budget for the upcoming fiscal year and said that the provision of extending various projects for only six months is not scientific. The federation has demanded automatic extension of the deadline by one year for all the projects that have expired before April 29, 2021.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The federation has also demanded to postpone the entire procurement process including invitation for bids from the federal, state and local governments. The federation has drawn the attention of the minister saying that a large amount of dues of the construction companies are yet to be paid. Furthermore, the federation has also suggested stopping the process of inviting new bids without allocating budget for the payment of previous construction works. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13277', 'image' => '20210614012250_20190108-gmc-pho-1049.jpg', 'article_date' => '2021-06-14 13:22:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13531', 'article_category_id' => '1', 'title' => 'Road Excavation in 8 Districts Banned until mid-September ', 'sub_title' => '', 'summary' => 'June 14: With the arrival of monsoon, any works related to road construction has been banned in eight districts including Kathmandu Valley. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14: With the arrival of monsoon, any works related to road construction has been banned in eight districts including Kathmandu Valley. The Federal Road Supervision and Monitoring Office (FRSMO) under the Department of Roads has directed the concerned Road Division Offices to implement this decision from June 15.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Issuing a notice on Sunday, the FRSMO has ordered the concerned offices to halt excavation of roads under the Road Divisions in Kathmandu, Lalitpur, Bhaktapur, Hetauda, Khurkot, Nuwakot, Bharatpur and Charikot. Engineer Kailash Kumar Shrestha, superintending of the FRSMO, informed that the maintenance of various roads cannot be done immediately, and so they have asked not to dig roads from June 15 till mid-September.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He said that the excavation of road for drinking water, sewerage, electricity and telephone purpose has been stopped as it is not possible to blacktop the road and it will be difficult to work due to rain.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The FRSMO has also warned of action if any unit is found t have dug the roads against its instruction. The office has made it clear that no road will be allowed to be dug and if anyone is found digging, action will be taken as per the Public Roads Act 2031 BS. Under the FRSMO, more than 3,000 road networks have been expanded in these districts.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13276', 'image' => '20210614011147_20190529122404__MG_5482.JPG', 'article_date' => '2021-06-14 13:11:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13530', 'article_category_id' => '1', 'title' => 'Prohibitory Order in Kathmandu Valley Extended by 1 more Week', 'sub_title' => 'Groceries and stationery shops to open till 11 am ', 'summary' => 'June 14: The government authorities in the Kathmandu Valley have extended the prohibitory order by one more week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 14: The government authorities in the Kathmandu Valley have extended the prohibitory order by one more week. According to the state-owned national news agency RSS, restrictions have been eased from June 14 but the prohibitory order will remain in force until June 21.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">A joint meeting of the Chief District Officers of Kathmandu, Lalitpur and Bhaktapur took a decision to this effect on Sunday (June 13). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">During the prohibitory order, people’s mobility will be restricted unless necessary. </span><br /> <span style="font-family:"Arial Unicode MS"">Time duration to open groceries and other shops has been extended until 11 in the morning. During the prohibitory order, vegetable and meat shops, groceries, dairy, stores selling drinking water and cooking gas and departmental stores will be allowed to open till 11 am. Vehicles supplying goods are allowed to run between 9 am to 11 am. </span><br /> <span style="font-family:"Arial Unicode MS"">Likewise, stationery shops and printing press will remain open until 11 am. Shops selling construction materials and electricity shops are allowed to open after 4 pm. </span><br /> <span style="font-family:"Arial Unicode MS"">Online marketing and home delivery service will remain open until 7 pm. Vehicle repairing service will be allowed until 9 pm. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions will continue their business by mobilising a limited number of human resources. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13275', 'image' => '20210614115927_20200601121121_lockdown.jpg', 'article_date' => '2021-06-14 11:58:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13528', 'article_category_id' => '1', 'title' => 'One-Stop Service Centre to Provide Services Electronically', 'sub_title' => '', 'summary' => 'June 13: The government has initiated the process of developing software for the One-Stop Service Centre two years after its establishment. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 13: The government has initiated the process of developing software for the One-Stop Service Centre two years after its establishment. </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:"Times New Roman"">The centre was set up on May 15, 2019 with the objective of providing services to the industries such as registration, license renewal, approval of foreign investment, providing incentives, discounts and various other facilities from one single point.</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:"Times New Roman"">In order to provide the services electronically, the Department of Industry (DoI) has selected a Nepali company to develop a software for the centre. </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:"Times New Roman"">Jibalal Bhusal, Director General of the Department, informed that DoI has selected a Nepali company to develop the software after completing the tender process. Once the software is developed, investors, industrialists and service seekers will not have to visit the DoI physically for the approval of foreign investment, industry closure and trademark registration.</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:"Times New Roman"">However, industrialists must visit the department to receive the certificate. The government has announced in the budget programme for the fiscal year 2021/22 that all the services to be provided from the One-Stop Service Centre will be made available electronically. </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:"Times New Roman"">"We can't ensure services will be provided online from the upcoming fiscal year since it takes a year to develop the software," Bhusal 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:"Times New Roman"">The department has been providing services to the industrialists and investors through the One-Stop Service Centre in line with the one-door policy since the last two years. An official of the department informed that the DoI was looking for a company to develop software but were unable to find such company before.</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:"Times New Roman"">The One-Stop Service Center has representation of fourteen institutional bodies and nine units. The Inland Revenue Department, Company Registrar’s Office, Department of Immigration and Nepal Electricity Authority are some of the institutional bodies that will provide integrated service from the one-stop service centre. </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:"Times New Roman"">The center has representation of foreign investment and technology transfer unit, industry registration, environment, visa, foreign exchange, land facilitation unit among others. Bhusal said that a separate umbrella act is required to make the functions of the one-stop service center more effective in the long run.</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:"Times New Roman"">The umbrella act has been proposed to make the work of the One-Stop Service Centre effective," he said, adding, "With the implementation of the Act, DoI can mobilize the manpower and resources required for the institutional bodies."</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:"Times New Roman"">At present, human resources are working as representative of the concerned body and are accountable to the same body.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13274', 'image' => '20210613040957_My Effect.jpg', 'article_date' => '2021-06-13 16:07:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13529', 'article_category_id' => '1', 'title' => 'Monsoon enters Nepal, More Rainfall Expected this Year ', 'sub_title' => '', 'summary' => 'June 13: Monsoon that entered Province 1, 2 and Bagmati Province since Friday has made its way to Gandaki and Lumbini Provinces from Saturday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 13: Monsoon that entered Province 1, 2 and Bagmati Province since Friday has made its way to Gandaki and Lumbini Provinces from Saturday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, the monsoon will enter the western parts of the country in a day or two.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Division informed that there is a possibility of light to moderate rainfall in many places of the country after monsoon becomes active later this week, the state-owned national news agency RSS reported. Generally, the monsoon starts on June 13 and exits on October 2 in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Most places of the country may receive more rainfall than average during this monsoon, according to the South Asian Climate Outlook Forum. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The National Disaster Risk Reduction and Management Authority (NDRRMA) had earlier issued warning of more than normal rainfall this year. Chief Executive of NDRRMA Anil Pokharel has been urging the public to remain alert to avoid possible losses of lives and properties from monsoon-induced disasters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The NDRRMA has launched Impact Based Forecasting (IBF) as a pilot project in nine districts – </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Sindhupalchowk, Gorkha, Rasuwa, Baglung, Myagdi, Syangja, Dailekh, Kalikot and Jajarkot – for early warning against disaster, NDRRMA’s Communication Expert Ranjana Shrestha informed New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, this technique used to be implied to forecast floods. But now, NDRRMA has launched a pilot project in 9 districts through which prediction of even landslide can be done,” said Shrestha.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the Meteorological Forecasting Division said there is an impact of a low-pressure belt from the northwestern Bay of Bengal and surrounding areas in the country’s east and central area and of a mix of westerly and local winds in the western areas. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:Arial">As a result, the country received rainfall on Saturday following a partial or normal change in the weather.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13273', 'image' => '20210613043257_2021SECVPF.jpeg', 'article_date' => '2021-06-13 16:32:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13526', 'article_category_id' => '1', 'title' => 'World Bank Approves $60 Million to Strengthen Nepal’s Higher Education ', 'sub_title' => '', 'summary' => 'June 13: The World Bank has approved US$ 60 million to improve the quality of higher education in Nepal. ', 'content' => '<p><em>Photo Courtesy: World Bank Nepal's Facebook page</em></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 13: The World Bank has approved US$ 60 million to improve the quality of higher education in Nepal. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Issuing a statement on June 11, the World Bank said that the fund will be utilized to scale up online learning and expand access to academic institutions for underprivileged and vulnerable students. </span><br /> <span style="font-family:"Arial Unicode MS"">“Improving access to quality higher education and helping students acquire the skills that are in demand in the labor market will contribute to Nepal’s COVID-19 recovery and strengthen its resilience,” the statement quoted Faris Hadad-Zervos, the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, as saying. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The Nurturing Excellence in Higher Education Program of the World Bank builds on Nepal’s previous successful higher education projects supported through results-based financing, the statement further said. </span><br /> <span style="font-family:"Arial Unicode MS"">The World Bank’s country office said that the support would help the government of Nepal align its higher education sector with labor market needs, boost collaborative research and entrepreneurship, improve governance, and access to quality higher education, especially for disadvantaged students. </span><br /> “The COVID-19 pandemic has created strong incentives to expand online platforms and blended learning, which the program will help scale up across Nepal’s universities.” </span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Cambria"><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13272', 'image' => '20210613074924_19876860n.jpg', 'article_date' => '2021-06-13 07:48:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13527', 'article_category_id' => '1', 'title' => 'Five Former PMs Against Extraction of Stones, Sand and Aggregates ', 'sub_title' => '', 'summary' => 'June 13: Five former prime ministers have demanded the government to immediately withdraw the new arrangement made for the export of sand, aggregates, and stones through the budget for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 13: Five former prime ministers have demanded the government to immediately withdraw the new arrangement made for the export of sand, aggregates, and stones through the budget for the upcoming fiscal 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:"Times New Roman"">Former Prime Ministers Sher Bahadur Deuba, Pushpa Kamal Dahal, Madhav Kumar Nepal, Jhala Nath Khanal, and Baburam Bhattarai on June 12 issued the joint statement demanding the withdrawal of the provision from the budget.</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:"Times New Roman"">The former prime ministers were of the view that the country is facing an unstable political situation due to the wrongdoings of the incumbent prime minister. They said that the decision of the government to excavate stones, aggregates, and sand from different parts of the country and export them abroad in the name of reducing the trade deficit is anti-national and against the well-being of the citizens.</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:"Times New Roman"">They pointed out that the implementation of such provision would create a serious environmental problem by affecting the geography of Nepal which is in a very sensitive situation. Likewise, environmentalists say such excavations in the Chure and Mahabharata ranges could lead to deforestation, drying up of water sources, and desertification in the Terai region.</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:"Times New Roman"">"We strongly oppose the government's decision and demand its immediate revocation. We urge the caretaker government not to work in a way that affects the country and the people, and request the administration, security, and other state bodies not to engage in such wrongdoings," the joint statement 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:"Times New Roman"">In the budget for the Fiscal Year 2021/22, the government has announced to reduce the trade deficit by extracting minerals, stones, and aggregates.</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:"Times New Roman"">Political parties including the Nepali Congress, Maoist Center, Janata Samajwadi Party, Rastriya Janamorcha, and environmentalists have been criticizing the government for exploiting the Chure region.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13271', 'image' => '20210613122650_River-Sand-Mining-1.jpg', 'article_date' => '2021-06-13 12:16:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13525', 'article_category_id' => '1', 'title' => 'Cooperatives Brace for Consolidation Amid Govt Push for Merger ', 'sub_title' => '', 'summary' => 'Following a footstep of bank and financial institutions (BFIs), cooperatives are also pursuing merger in recent days. ', 'content' => '<p><strong>Sagar Ghimire </strong></p> <p>KATHMANDU, June 12: Following a footstep of bank and financial institutions (BFIs), cooperatives are also pursuing merger in recent days. </p> <p>According to the data of Department of Cooperatives (DoC), a total of 128 cooperatives have gone into merger to become 50 entities as of mid April.</p> <p>This merger drive follows the government's recent push to lower the number of the cooperatives and strengthen their corporate governance. Amid a challenge of effective monitoring and regulation due to the high number of cooperatives, particularly saving and credit cooperatives, the government pursued a policy to promote merger of cooperatives. </p> <p>The government’s priority of cooperatives merger was even highlighted by the budget for the current fiscal year (2020/21). "Saving and credit cooperatives will be encouraged to go into merger," read the budget speech for the current fiscal year. </p> <p>Though the budget has announced that it will encourage merger among cooperatives, cooperative sector leaders say that the government has not introduced any incentive or subsidy for those institutions which opt for amalgamation. The merger spree so far is largely driven by stiff market competition or regulatory push rather than government’s incentivization, they say. </p> <p>Paritosh Paudyal, chairperson of Nepal Federation of Savings and Credit Cooperative Unions Ltd (NEFSCUN), said that most of the cooperatives have gone into merger after realizing that the merger makes them financially stronger and more competitive in the market. </p> <p>“When there is a lot of competition in the market due to presence of high number of cooperatives, it makes sense for many to go for merger and become bigger and stronger. It helps them to cut costs and stay competitive in the market,” said NEFSCUN Chairperson Paudyal. </p> <p>The merger also brings business consolidation and bolsters the capacity of saving credit cooperatives to withstand any shock or uncertainty, according to NEFSCUN Chairperson Paudyal. </p> <p>“Bank and financial instiututions are expanding their reaches. With higher investment on technology, they are cutting costs and providing their services at cheaper cost. On the other hand, many cooperatives are still operating manually,” said Paudyal. “Now, these cooperatives will also have to make investment in such technology and softwares to lower their costs and stay relevant in the market. Smaller cooperatives may not be in the position to do so. The only way forward is consolidation through mergers,” he said. </p> <p>Most of the cooperatives have found the merger a way to cope with membership duplication and become bigger and stronger entity that benefits their members due to lower costs and higher returns. </p> <p>Ekikrit Friendship Saving and Credit Cooperative Society Ltd (EFSCCS) is one among those cooperatives. The Dolakha-based cooperative is an entity formed after a merger among 14 different saving and cooperatives. In fact, the cooperative’s merger journey began even before the government started pushing for the amalgamation of cooperatives. It commenced its integrated operation in December 2014 following a merger between nine cooperatives. Three years later, it wooed two other cooperatives for the marriage. But, its merger journey did not stop there. Three other saving and credit cooperatives also merged into Ekikrit Friendship last year. </p> <p>Keshab Prasad Dahal, the CEO of EFSCCS, said that their merger initiative was aimed mainly at addressing the problem of membership duplication and making the institution financially stronger and bigger. </p> <p>“While there were many members who were getting services from more than one cooperative, we thought combining them would be in the best interest of both institutions and our shareholders. The consolidation not only helped the cooperative to enhance its financial capacity but also enabled it to provide loans at cheaper rate as well as higher return to the shareholders,” he said. </p> <p>According to CEO Dahal, the total number of shareholders has declined to nearly 5,500 from over 12,000 in 2014 while also increasing the capital and volume of deposits and loans. </p> <p>The government’s objective behind pushing for merger is aimed at lowering the high number of saving and credit cooperatives in the country, particularly in urban areas. Due to the lack of government’s capacity to supervise and regulate them, weak corporate governance and internal control in many cooperatives have become a serious concern. </p> <p>Officials are worried about the possibility of replay of the crisis of 2013 when at least 150 cooperatives including Oriental Cooperative had ran into trouble due to poor regulation. A committee led by former Special Court Judge Gauri Bahadur Karki had found these troubled cooperatives misappropriating nearly Rs 11 billion in deposits including Rs 5.5 billion by Oriental Cooperatives run by Sudheer Basnet. These depositors are still waiting to get their money back. </p> <p>Loosely-regulated cooperatives getting intro trouble is not the only risk that the government is worried about. There are also concerns of lack of monitoring and poor regulation posing a threat to the financial stability of the country. While bank and financial institutions are under strict regulation of Nepal Rastra Bank (NRB), thousands of saving and deposit cooperatives which also provide similar services are largely operating with little or no regulatory check. </p> <p>“High number of cooperatives has become a challenge to carry out supervision and enforce regulation. So, we have been pushing for the merger. We have set standards which even allow the government to send cooperatives into forceful merger,” said Surendra Raj Paudel, the spokesperson of the Department of Cooperatives. </p> <p>In 2019, the government introduced cooperatives regulation with a provision requiring existing cooperatives that operate against the standards to go for forceful merger.</p> <p>As per the new regulation, the government will allow registration of only one cooperative per 5,000 people in a ward of metropolitan and sub-metropolitan cities. Similarly, there will be one cooperative per 2,000 people in municipal area whereas the government will issue license to only one cooperative for every 500 people in rural municipality, according to the new regulations.<br /> “By fixing the number of cooperatives that can be operated in certain area based on population, the government has made it intention clear to send cooperatives into merger, particularly in urban areas, in a forceful way if required,” said the department’s spokesperson Paudel.</p> <p>There are a total of 34,512 cooperatives across the country as of December 2017, according to the data of the department. Among them, the number of savings and credit cooperatives is the highest. 13,578 savings and credit cooperatives are in operation in Nepal. They have mobilized a total of Rs 217.49 billion in deposits and disbursed Rs 179.88 billion in loans.</p> <p>However, cooperative leaders see a discrepancy in government’s policy and its action when it comes about reducing the number of cooperatives. </p> <p>“On the one hand, the government says that we already have more than enough cooperatives in the country. On the other, local governments are still registering cooperatives,” said NEFSCUN’s Chairperson Paudyal. “The government should first fix the number of cooperatives that the country needs and than implement its policy accordingly,” he added. </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-06-12', 'modified' => '2021-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '13270', 'image' => '20210612114626_Cooperatives_merger.jpg', 'article_date' => '2021-06-12 11:39:20', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 14 => array( 'Article' => array( 'id' => '13523', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Paracetamol ', 'sub_title' => '', 'summary' => 'June 11: The market is currently reeling under shortage of paracetamol due to production cuts, artificial shortage and high demand for the essential drug in the market. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 11: The market is currently reeling under shortage of paracetamol due to production cuts, artificial shortage and high demand for the essential drug in the market. In the wake of the second wave of COVID-19 pandemic, there has been a massive surge in demand for paracetamol, a primary drug used for containing fever.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Sitaram Regmi, president of the Federation of Nepal Medical Entrepreneurs, said that the demand for paracetamol has been a record high since the month of April and it still remains high. “The demand for paracetamol has increased by 10 percent. Since the industries have also cut down the production, the market is witnessing a shortage,” he said. He added that customers are not getting easy access to the drug also due to artificial shortage.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to Regmi, production of paracetamol has also declined by 10 percent. He complained that although the industries can increase the production capacity up to 20 percent, they have not stepped up production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Industries producing paracetamol had reduced the production of the drug since April. Citing that the production cost of medicines like paracetamol, zinc, Vitamin C, doxycycline, and azithromycin used in treating COVID-19 patients is high, they have reduced the production of these medicines.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Nepal Pharmaceutical Association, has informed that the industries have cut down production due to the increasing price of raw materials. Narayan Chhetri, President of the Association, said that the price of the medicines fixed fourteen years ago is still unchanged. In spite of this, industries were producing medicines incurring losses. But lately, shortages of raw materials have led to a decline in the production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Umesh Lal Shrestha, who was at the helm of the Association in 2008, said pricing of drugs doesn't even cover the production cost of the medicine.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman""> “Not any government has ever extended support to the industries. The government policy is not supportive enough to solve the problems of entrepreneurs and help develop the industry,” said Shrestha.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He further added that the practice of stockpiling paracetamol is the major reason behind the shortage.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-11', 'modified' => '2021-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '13269', 'image' => '20210611021604_20210517025320_20200818124630_1597700501.Clipboard10.jpg', 'article_date' => '2021-06-11 14:15:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The restrictions that were imposed on April 29 have been relaxed since June 15.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">As per the government's directive, the local Covid-19 crisis management centers have eased public movement. However, there are fears that the virus might reappear due to the relaxation in restrictive orders.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Earlier, shops in Birgunj were allowed to open till 10 am, but it has now been extended till noon. In Bara, the opening time has been set at 11 am. The supply of daily essentials, construction materials, and agricultural products and equipment will be facilitated by opening shops. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Subodh Kumar Gupta, president of the Birgunj Chamber of Commerce and Industry, is confident that business activities will pick up pace as the restriction on production and supply has been eased.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">At present, industries other than food and medicine are almost closed,” Gupta said, adding, "There is no problem in transportation and production of raw materials. However, the manufactured goods could not be sold in the market.”</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry in Province 2, claimed that 60 percent of the industries in the Bara-Parsa corridor have been shut down due to the restrictions.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Except for producing essential goods, manufacturing of other products is closed. Producers of essential commodities have not been able to operate at full capacity,” Lath told New Business Age.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The business community argues that trade and business will not pick up pace unless markets and transportation are opened. Lath said that the workers have started returning to work. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"The supply of workers has eased somewhat. Coronavirus infection is under control and relaxation of the prohibitory order would help business activities to gain momentum," he said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Gupta said that most of the industries and commercial establishments were facing crisis.</span> <span style="font-family:"Times New Roman"">He said that they were unable to recovery money from the market due to the restriction on mobility and market activities. Due to this, there has been a problem of keeping the enterprise running, he added.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Chief Customs Officer at Birgunj Customs Harihar Poudel said that the decline in industrial and commercial activities has also affected the number of goods entering the country. Poudel informed that the import of most of the trade items has declined. According to Poudel, imports of food items, shoes, slippers, machinery parts, tools, paint industry materials, vehicles, fuel, and other items have declined.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Although the surge of the virus has decreased in recent days, there is a fear that the number of infections will increase after the prohibitory order is relaxed. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Gupta fears that the number of infection has declined due to the reduction in tests. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13283', 'image' => '20210615035229_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-06-15 15:51:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13536', 'article_category_id' => '1', 'title' => 'Businessmen Close Down Shops Permanently as Prohibitory Order gets Extended ', 'sub_title' => '', 'summary' => 'June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. They have started doing so as they are facing difficulty paying the rent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The prohibitory order issued by the government in the Kathmandu Valley on April 29 has been extended for one more week until June 21. The businessmen say that the extended lockdown has led them to vacate the shutters.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Nepal National Entrepreneurs’ Federation, more than 1,500 businessmen in the cities including Kathmandu Valley, Pokhara, Biratnagar, Butwal and Nepalgunj have vacated the shutters in the last one week. According to the president of the federation Naresh Katuwal, about 50 percent of businessmen who have vacated the shutters are from Kathmandu Valley. He said that the number of shutters vacated has increased in the main business hubs of Kathmandu including Thamel, New Road, Ason, Indrachowk, Koteshwor and Kalanki. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Most of those who have shut down their shops are small traders running fancy-dress stores, shoe shops and hotels. According to the federation, about 40 percent of the shutters for commercial purposes were vacated in Kathmandu Valley last year due to the extended lockdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Stating that small and medium entrepreneurs have been most affected by the lockdown last year and now, Katuwal said that they would disobey the government’s order if the lockdown is extended beyond June 22.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In addition, Baikuntha Dahal, general secretary of the National Trade Association New Road, said that if the government extends the lockdown again from next week, they would protest against the decision and resume their business.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">If the government keeps extending the lockdown, the businessmen say that their demand including waiver of interest on loan taken from banks and discount on the rent should be fulfilled.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Depending on the location, the traders have been paying a minimum rent of Rs 20,000 to Rs 200,000 in the main business centers of Kathmandu.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Due to the lockdown, small and medium-sized businesses that contribute about 22 percent of the country's gross domestic product and provide employment to more than 1.7 million people have been halted. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13282', 'image' => '20210615122136_20200828035107_20171127050546_thamel.jpg', 'article_date' => '2021-06-15 12:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13535', 'article_category_id' => '1', 'title' => '‘Proposal to Graduate Nepal from LDC status to be Presented for Endorsement' ', 'sub_title' => '', 'summary' => 'June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC), according to the state-owned national news agency RSS. In this connection, preparation is being made to get the final proposal endorsed from upcoming General Assembly of the United Nations. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS reported that the UN Economic and Social Council (ECOSOC) has principally given a consent to present the proposal in the upcoming UNGA for endorsement. The UNGA is taking place on September later this year. </span><br /> <span style="font-family:"Arial Unicode MS"">Chief of the Permanent Mission of Nepal to the United Nations in New York, Amrit Rai told RSS that a meeting of the UN’s ECOSOC held recently in New York also recommended Nepal being eligible to graduate to the country of mid-level income from the present status of low-income country and is presenting the proposal for endorsement in the upcoming UNGA. </span><br /> <span style="font-family:"Arial Unicode MS"">“Out of three stipulated criteria for graduation we had fulfilled two in 2015 and 2018 which paved our way for graduation,” RSS reported Rai. “Earlier, we had asked to put on hold the proposal for graduation due to the devastating earthquake. Now it is entering into the phase of endorsement,” Rai clarified. </span><br /> <span style="font-family:"Arial Unicode MS"">Nepal is in the list of eligible countries for graduate to developing country after meeting the two among the three criteria – per capita income in Gross Domestic Product, human asset index and economic and environmental vulnerability index. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, it requires three years for developing complementary plan of action for the transitional management following the endorsement of the graduation decision. However, heeding the request, UN has given Nepal an additional two years until 2026 owing to the troubled times caused by coronavirus. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13281', 'image' => '20210615114424_Nepal-PM-73rd-UNGA-Session.jpg', 'article_date' => '2021-06-15 11:43:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13537', 'article_category_id' => '1', 'title' => 'Private Sector to Construct 5 Hydropower Projects through BOT Model', 'sub_title' => '', 'summary' => 'June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1310.html">watch movie replicas</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1311.html">replica rolex watches</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1312.html">replica panerai watches for sale</a> </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government has decided to allow the private sector to build five projects of 169.42 MW capacity in two phases through competition. It is preparing to handover projects namely Dudhkoshi Hydropower Project-4 (47 MW), Sankhuwakhola Hydropower Project-1 (40.82MW), Lower Hongu Hydropower Project (30.20MW), Kawadikhola Hydropower Project (30 MW) and Ingu Khola Hydropower Project (21.40 MW) to the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">All these projects were studied by the Department of Electricity Development. The department had completed the study of these projects between 2018-2020. Madhu Prasad Bhetwal, spokesperson for the Ministry of Energy, Water Resources and Irrigation informed that the projects are being handed over to the private sector for construction.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In the first phase, proposals will be invited for the construction of Dudhkoshi-4, Sankhuwakhola-1, Lower Hongukhola and Ingu Khola hydropower projects to be constructed in Solukhumbu. Bhetwal said that applications will be invited in the second phase for the construction of Kawadikhola Hydropower Project to be built in Bajura.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Standard bidding process is being prepared to call for the applications for the four hydropower projects. After receiving approval from the ministry, the Department will call for application," he said, adding, "But infrastructure required for the construction of Kawadikhola have not been built. Once the required infrastructure is built, private sector will be permitted to build the project."</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Electricity of Dudhkoshi-4, Sankhuwakhola-1, Tallo Hongu and Ingu Khola hydropower projects will be connected to 132 KV Line substation, 132 KV Tumlingtar substation, 132 KV line substation respectively. Electricity of Kawadikhola Hydropower Project will be connected to 132 KV Mugu Karnali Hub.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">A secretary-level decision taken on August 20, 2020 had agreed to allow the private sector to develop the projects in the build, operate and transfer (BOT) model.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13280', 'image' => '20210615123209_20150823012330_ep1.jpg', 'article_date' => '2021-06-15 12:31:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13534', 'article_category_id' => '1', 'title' => ' Supply of Petroleum Products Obstructed ', 'sub_title' => '', 'summary' => 'June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel. They had threatened few weeks ago to stop the supply if they were not given COVID-19 vaccines. The association chair Ishwar Lama shared that they were compelled to halt the supplies as their demands were not heard by the concerned authorities. </span><br /> <span style="font-family:"Arial Unicode MS"">With this, smooth supply of the petroleum product, especially in private petrol pumps has been affected. He added that the internal supplies from Barauni, Amlekhgunj and other areas have been obstructed. The Bagmati Province Depot, Thankot has stated that the supplies have been obstructed from Sunday. </span><br /> <span style="font-family:"Arial Unicode MS"">Meanwhile, Nepal Petroleum Dealers’ National Association has stated that shortage of petroleum products may be witnessed from Tuesday (June 15) as the government is relaxing the prohibitory order in Kathmandu valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13279', 'image' => '20210615113009_20200802105911_petrolpump.jpg', 'article_date' => '2021-06-15 11:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13533', 'article_category_id' => '1', 'title' => 'Readymade Goods worth Rs 1 Billion Stuck in Warehouses due to Suspension of Export ', 'sub_title' => '', 'summary' => 'June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. Since the outbreak of Covid-19, both air and sea fares have gone up, leaving the readymade garment industry no option than to stockpile goods worth Rs 1 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The goods including half-pants, t-shirts, shirts, trousers produced by the industries even before the lockdown are still in the warehouse. Although there is a demand for readymade garments produced in Nepal from European countries at the moment, businessmen have not been able to export goods even if they wanted to due to the rise in shipping charges due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Exporters now have to pay up to three times more than usual shipping charges for exporting goods. Earlier, the price of goods exported to Europe and the United States by air was USD 3 per kg, but now it has grown to USD 9. Similarly, the fare is equally expensive via waterway. The Garment Association of Nepal has informed that shipping charge through waterways has increased from USD 1400 per container to USD 2200. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Readymade garments produced in Nepal are exported to European countries including Germany, France, Hungary, Denmark, Italy, Norway, and even to the USA, Australia, and Canada. The main market for Nepal’s readymade garments is Europe, where about 70 percent of Nepal-made products are consumed.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Even in last year's lockdown, goods worth more than Rs 1.5 billion were stuck in the warehouses. Ashok Agrawal, president of the association, said that the industries have reduced their production capacity to around 30 percent as they could not export their products due to the problems in paying rent. He also informed that the direct impact of the reduction in production is falling on the working class people involved in the industry. At present, 50 percent of the 10,000 workers of 50 industries in Nepal have lost their jobs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Exporting goods at high fares increases the cost of goods and we have to sell them at higher prices. When we try to sell at higher prices, foreigners start buying goods from other countries instead of buying our goods," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Compared to Nepal, the freight rates are cheaper for the countries connected to the sea. When Nepali businessmen have to pay for a truck and then a ship to Kolkata, it becomes expensive. Due to this, the cost of Nepali products becomes more expensive compared to other countries.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The demand for readymade garments tends to be seasonal. Therefore, the season of clothes in stock now ends soon and then it has to be held till the next season. That would cost the businessmen millions of additional charge. The textile industry, which is facing problems due to the ban on exports, is currently going through a crisis.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Therefore, the association demanded the government to provide concessional loans to the garment industry, which has been playing a big role in increasing employment and export of Nepal. The industry, which had a turnover of Rs 7 billion in the last fiscal year, is expected to see a sharp decline in the current fiscal year due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Fifteen years ago, there were about 1,200 readymade garment industries in Nepal. More than 100,000 workers were employed in those garment factries. Currently, only 50 readymade garment industries are in operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Entrepreneurs say that the cost of readymade garments produced in Nepal is more expensive than the readymade garments produced in other countries as the raw materials required for the industry have to be imported from abroad.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13278', 'image' => '20210614032849_20200421011816_1587419377.jpg', 'article_date' => '2021-06-14 15:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13532', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Demand vaccination for Workers in the Forefront of Development Works', 'sub_title' => '', 'summary' => 'June 14: The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14:<strong> </strong></span><span style="font-family:"Times New Roman"">The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work. On Sunday, the federation requested Minister for Culture, Tourism and Civil Aviation Uma Shankar Argaria to make arrangements for vaccination.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The federation also expressed its views with the minister regarding the budget for the upcoming fiscal year and said that the provision of extending various projects for only six months is not scientific. The federation has demanded automatic extension of the deadline by one year for all the projects that have expired before April 29, 2021.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The federation has also demanded to postpone the entire procurement process including invitation for bids from the federal, state and local governments. The federation has drawn the attention of the minister saying that a large amount of dues of the construction companies are yet to be paid. Furthermore, the federation has also suggested stopping the process of inviting new bids without allocating budget for the payment of previous construction works. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13277', 'image' => '20210614012250_20190108-gmc-pho-1049.jpg', 'article_date' => '2021-06-14 13:22:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13531', 'article_category_id' => '1', 'title' => 'Road Excavation in 8 Districts Banned until mid-September ', 'sub_title' => '', 'summary' => 'June 14: With the arrival of monsoon, any works related to road construction has been banned in eight districts including Kathmandu Valley. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14: With the arrival of monsoon, any works related to road construction has been banned in eight districts including Kathmandu Valley. The Federal Road Supervision and Monitoring Office (FRSMO) under the Department of Roads has directed the concerned Road Division Offices to implement this decision from June 15.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Issuing a notice on Sunday, the FRSMO has ordered the concerned offices to halt excavation of roads under the Road Divisions in Kathmandu, Lalitpur, Bhaktapur, Hetauda, Khurkot, Nuwakot, Bharatpur and Charikot. Engineer Kailash Kumar Shrestha, superintending of the FRSMO, informed that the maintenance of various roads cannot be done immediately, and so they have asked not to dig roads from June 15 till mid-September.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He said that the excavation of road for drinking water, sewerage, electricity and telephone purpose has been stopped as it is not possible to blacktop the road and it will be difficult to work due to rain.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The FRSMO has also warned of action if any unit is found t have dug the roads against its instruction. The office has made it clear that no road will be allowed to be dug and if anyone is found digging, action will be taken as per the Public Roads Act 2031 BS. Under the FRSMO, more than 3,000 road networks have been expanded in these districts.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13276', 'image' => '20210614011147_20190529122404__MG_5482.JPG', 'article_date' => '2021-06-14 13:11:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13530', 'article_category_id' => '1', 'title' => 'Prohibitory Order in Kathmandu Valley Extended by 1 more Week', 'sub_title' => 'Groceries and stationery shops to open till 11 am ', 'summary' => 'June 14: The government authorities in the Kathmandu Valley have extended the prohibitory order by one more week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 14: The government authorities in the Kathmandu Valley have extended the prohibitory order by one more week. According to the state-owned national news agency RSS, restrictions have been eased from June 14 but the prohibitory order will remain in force until June 21.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">A joint meeting of the Chief District Officers of Kathmandu, Lalitpur and Bhaktapur took a decision to this effect on Sunday (June 13). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">During the prohibitory order, people’s mobility will be restricted unless necessary. </span><br /> <span style="font-family:"Arial Unicode MS"">Time duration to open groceries and other shops has been extended until 11 in the morning. During the prohibitory order, vegetable and meat shops, groceries, dairy, stores selling drinking water and cooking gas and departmental stores will be allowed to open till 11 am. Vehicles supplying goods are allowed to run between 9 am to 11 am. </span><br /> <span style="font-family:"Arial Unicode MS"">Likewise, stationery shops and printing press will remain open until 11 am. Shops selling construction materials and electricity shops are allowed to open after 4 pm. </span><br /> <span style="font-family:"Arial Unicode MS"">Online marketing and home delivery service will remain open until 7 pm. Vehicle repairing service will be allowed until 9 pm. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions will continue their business by mobilising a limited number of human resources. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13275', 'image' => '20210614115927_20200601121121_lockdown.jpg', 'article_date' => '2021-06-14 11:58:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13528', 'article_category_id' => '1', 'title' => 'One-Stop Service Centre to Provide Services Electronically', 'sub_title' => '', 'summary' => 'June 13: The government has initiated the process of developing software for the One-Stop Service Centre two years after its establishment. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 13: The government has initiated the process of developing software for the One-Stop Service Centre two years after its establishment. </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:"Times New Roman"">The centre was set up on May 15, 2019 with the objective of providing services to the industries such as registration, license renewal, approval of foreign investment, providing incentives, discounts and various other facilities from one single point.</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:"Times New Roman"">In order to provide the services electronically, the Department of Industry (DoI) has selected a Nepali company to develop a software for the centre. </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:"Times New Roman"">Jibalal Bhusal, Director General of the Department, informed that DoI has selected a Nepali company to develop the software after completing the tender process. Once the software is developed, investors, industrialists and service seekers will not have to visit the DoI physically for the approval of foreign investment, industry closure and trademark registration.</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:"Times New Roman"">However, industrialists must visit the department to receive the certificate. The government has announced in the budget programme for the fiscal year 2021/22 that all the services to be provided from the One-Stop Service Centre will be made available electronically. </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:"Times New Roman"">"We can't ensure services will be provided online from the upcoming fiscal year since it takes a year to develop the software," Bhusal 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:"Times New Roman"">The department has been providing services to the industrialists and investors through the One-Stop Service Centre in line with the one-door policy since the last two years. An official of the department informed that the DoI was looking for a company to develop software but were unable to find such company before.</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:"Times New Roman"">The One-Stop Service Center has representation of fourteen institutional bodies and nine units. The Inland Revenue Department, Company Registrar’s Office, Department of Immigration and Nepal Electricity Authority are some of the institutional bodies that will provide integrated service from the one-stop service centre. </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:"Times New Roman"">The center has representation of foreign investment and technology transfer unit, industry registration, environment, visa, foreign exchange, land facilitation unit among others. Bhusal said that a separate umbrella act is required to make the functions of the one-stop service center more effective in the long run.</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:"Times New Roman"">The umbrella act has been proposed to make the work of the One-Stop Service Centre effective," he said, adding, "With the implementation of the Act, DoI can mobilize the manpower and resources required for the institutional bodies."</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:"Times New Roman"">At present, human resources are working as representative of the concerned body and are accountable to the same body.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13274', 'image' => '20210613040957_My Effect.jpg', 'article_date' => '2021-06-13 16:07:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13529', 'article_category_id' => '1', 'title' => 'Monsoon enters Nepal, More Rainfall Expected this Year ', 'sub_title' => '', 'summary' => 'June 13: Monsoon that entered Province 1, 2 and Bagmati Province since Friday has made its way to Gandaki and Lumbini Provinces from Saturday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 13: Monsoon that entered Province 1, 2 and Bagmati Province since Friday has made its way to Gandaki and Lumbini Provinces from Saturday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, the monsoon will enter the western parts of the country in a day or two.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Division informed that there is a possibility of light to moderate rainfall in many places of the country after monsoon becomes active later this week, the state-owned national news agency RSS reported. Generally, the monsoon starts on June 13 and exits on October 2 in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Most places of the country may receive more rainfall than average during this monsoon, according to the South Asian Climate Outlook Forum. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The National Disaster Risk Reduction and Management Authority (NDRRMA) had earlier issued warning of more than normal rainfall this year. Chief Executive of NDRRMA Anil Pokharel has been urging the public to remain alert to avoid possible losses of lives and properties from monsoon-induced disasters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The NDRRMA has launched Impact Based Forecasting (IBF) as a pilot project in nine districts – </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Sindhupalchowk, Gorkha, Rasuwa, Baglung, Myagdi, Syangja, Dailekh, Kalikot and Jajarkot – for early warning against disaster, NDRRMA’s Communication Expert Ranjana Shrestha informed New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, this technique used to be implied to forecast floods. But now, NDRRMA has launched a pilot project in 9 districts through which prediction of even landslide can be done,” said Shrestha.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the Meteorological Forecasting Division said there is an impact of a low-pressure belt from the northwestern Bay of Bengal and surrounding areas in the country’s east and central area and of a mix of westerly and local winds in the western areas. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:Arial">As a result, the country received rainfall on Saturday following a partial or normal change in the weather.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13273', 'image' => '20210613043257_2021SECVPF.jpeg', 'article_date' => '2021-06-13 16:32:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13526', 'article_category_id' => '1', 'title' => 'World Bank Approves $60 Million to Strengthen Nepal’s Higher Education ', 'sub_title' => '', 'summary' => 'June 13: The World Bank has approved US$ 60 million to improve the quality of higher education in Nepal. ', 'content' => '<p><em>Photo Courtesy: World Bank Nepal's Facebook page</em></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 13: The World Bank has approved US$ 60 million to improve the quality of higher education in Nepal. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Issuing a statement on June 11, the World Bank said that the fund will be utilized to scale up online learning and expand access to academic institutions for underprivileged and vulnerable students. </span><br /> <span style="font-family:"Arial Unicode MS"">“Improving access to quality higher education and helping students acquire the skills that are in demand in the labor market will contribute to Nepal’s COVID-19 recovery and strengthen its resilience,” the statement quoted Faris Hadad-Zervos, the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, as saying. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The Nurturing Excellence in Higher Education Program of the World Bank builds on Nepal’s previous successful higher education projects supported through results-based financing, the statement further said. </span><br /> <span style="font-family:"Arial Unicode MS"">The World Bank’s country office said that the support would help the government of Nepal align its higher education sector with labor market needs, boost collaborative research and entrepreneurship, improve governance, and access to quality higher education, especially for disadvantaged students. </span><br /> “The COVID-19 pandemic has created strong incentives to expand online platforms and blended learning, which the program will help scale up across Nepal’s universities.” </span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Cambria"><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13272', 'image' => '20210613074924_19876860n.jpg', 'article_date' => '2021-06-13 07:48:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13527', 'article_category_id' => '1', 'title' => 'Five Former PMs Against Extraction of Stones, Sand and Aggregates ', 'sub_title' => '', 'summary' => 'June 13: Five former prime ministers have demanded the government to immediately withdraw the new arrangement made for the export of sand, aggregates, and stones through the budget for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 13: Five former prime ministers have demanded the government to immediately withdraw the new arrangement made for the export of sand, aggregates, and stones through the budget for the upcoming fiscal 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:"Times New Roman"">Former Prime Ministers Sher Bahadur Deuba, Pushpa Kamal Dahal, Madhav Kumar Nepal, Jhala Nath Khanal, and Baburam Bhattarai on June 12 issued the joint statement demanding the withdrawal of the provision from the budget.</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:"Times New Roman"">The former prime ministers were of the view that the country is facing an unstable political situation due to the wrongdoings of the incumbent prime minister. They said that the decision of the government to excavate stones, aggregates, and sand from different parts of the country and export them abroad in the name of reducing the trade deficit is anti-national and against the well-being of the citizens.</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:"Times New Roman"">They pointed out that the implementation of such provision would create a serious environmental problem by affecting the geography of Nepal which is in a very sensitive situation. Likewise, environmentalists say such excavations in the Chure and Mahabharata ranges could lead to deforestation, drying up of water sources, and desertification in the Terai region.</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:"Times New Roman"">"We strongly oppose the government's decision and demand its immediate revocation. We urge the caretaker government not to work in a way that affects the country and the people, and request the administration, security, and other state bodies not to engage in such wrongdoings," the joint statement 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:"Times New Roman"">In the budget for the Fiscal Year 2021/22, the government has announced to reduce the trade deficit by extracting minerals, stones, and aggregates.</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:"Times New Roman"">Political parties including the Nepali Congress, Maoist Center, Janata Samajwadi Party, Rastriya Janamorcha, and environmentalists have been criticizing the government for exploiting the Chure region.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13271', 'image' => '20210613122650_River-Sand-Mining-1.jpg', 'article_date' => '2021-06-13 12:16:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13525', 'article_category_id' => '1', 'title' => 'Cooperatives Brace for Consolidation Amid Govt Push for Merger ', 'sub_title' => '', 'summary' => 'Following a footstep of bank and financial institutions (BFIs), cooperatives are also pursuing merger in recent days. ', 'content' => '<p><strong>Sagar Ghimire </strong></p> <p>KATHMANDU, June 12: Following a footstep of bank and financial institutions (BFIs), cooperatives are also pursuing merger in recent days. </p> <p>According to the data of Department of Cooperatives (DoC), a total of 128 cooperatives have gone into merger to become 50 entities as of mid April.</p> <p>This merger drive follows the government's recent push to lower the number of the cooperatives and strengthen their corporate governance. Amid a challenge of effective monitoring and regulation due to the high number of cooperatives, particularly saving and credit cooperatives, the government pursued a policy to promote merger of cooperatives. </p> <p>The government’s priority of cooperatives merger was even highlighted by the budget for the current fiscal year (2020/21). "Saving and credit cooperatives will be encouraged to go into merger," read the budget speech for the current fiscal year. </p> <p>Though the budget has announced that it will encourage merger among cooperatives, cooperative sector leaders say that the government has not introduced any incentive or subsidy for those institutions which opt for amalgamation. The merger spree so far is largely driven by stiff market competition or regulatory push rather than government’s incentivization, they say. </p> <p>Paritosh Paudyal, chairperson of Nepal Federation of Savings and Credit Cooperative Unions Ltd (NEFSCUN), said that most of the cooperatives have gone into merger after realizing that the merger makes them financially stronger and more competitive in the market. </p> <p>“When there is a lot of competition in the market due to presence of high number of cooperatives, it makes sense for many to go for merger and become bigger and stronger. It helps them to cut costs and stay competitive in the market,” said NEFSCUN Chairperson Paudyal. </p> <p>The merger also brings business consolidation and bolsters the capacity of saving credit cooperatives to withstand any shock or uncertainty, according to NEFSCUN Chairperson Paudyal. </p> <p>“Bank and financial instiututions are expanding their reaches. With higher investment on technology, they are cutting costs and providing their services at cheaper cost. On the other hand, many cooperatives are still operating manually,” said Paudyal. “Now, these cooperatives will also have to make investment in such technology and softwares to lower their costs and stay relevant in the market. Smaller cooperatives may not be in the position to do so. The only way forward is consolidation through mergers,” he said. </p> <p>Most of the cooperatives have found the merger a way to cope with membership duplication and become bigger and stronger entity that benefits their members due to lower costs and higher returns. </p> <p>Ekikrit Friendship Saving and Credit Cooperative Society Ltd (EFSCCS) is one among those cooperatives. The Dolakha-based cooperative is an entity formed after a merger among 14 different saving and cooperatives. In fact, the cooperative’s merger journey began even before the government started pushing for the amalgamation of cooperatives. It commenced its integrated operation in December 2014 following a merger between nine cooperatives. Three years later, it wooed two other cooperatives for the marriage. But, its merger journey did not stop there. Three other saving and credit cooperatives also merged into Ekikrit Friendship last year. </p> <p>Keshab Prasad Dahal, the CEO of EFSCCS, said that their merger initiative was aimed mainly at addressing the problem of membership duplication and making the institution financially stronger and bigger. </p> <p>“While there were many members who were getting services from more than one cooperative, we thought combining them would be in the best interest of both institutions and our shareholders. The consolidation not only helped the cooperative to enhance its financial capacity but also enabled it to provide loans at cheaper rate as well as higher return to the shareholders,” he said. </p> <p>According to CEO Dahal, the total number of shareholders has declined to nearly 5,500 from over 12,000 in 2014 while also increasing the capital and volume of deposits and loans. </p> <p>The government’s objective behind pushing for merger is aimed at lowering the high number of saving and credit cooperatives in the country, particularly in urban areas. Due to the lack of government’s capacity to supervise and regulate them, weak corporate governance and internal control in many cooperatives have become a serious concern. </p> <p>Officials are worried about the possibility of replay of the crisis of 2013 when at least 150 cooperatives including Oriental Cooperative had ran into trouble due to poor regulation. A committee led by former Special Court Judge Gauri Bahadur Karki had found these troubled cooperatives misappropriating nearly Rs 11 billion in deposits including Rs 5.5 billion by Oriental Cooperatives run by Sudheer Basnet. These depositors are still waiting to get their money back. </p> <p>Loosely-regulated cooperatives getting intro trouble is not the only risk that the government is worried about. There are also concerns of lack of monitoring and poor regulation posing a threat to the financial stability of the country. While bank and financial institutions are under strict regulation of Nepal Rastra Bank (NRB), thousands of saving and deposit cooperatives which also provide similar services are largely operating with little or no regulatory check. </p> <p>“High number of cooperatives has become a challenge to carry out supervision and enforce regulation. So, we have been pushing for the merger. We have set standards which even allow the government to send cooperatives into forceful merger,” said Surendra Raj Paudel, the spokesperson of the Department of Cooperatives. </p> <p>In 2019, the government introduced cooperatives regulation with a provision requiring existing cooperatives that operate against the standards to go for forceful merger.</p> <p>As per the new regulation, the government will allow registration of only one cooperative per 5,000 people in a ward of metropolitan and sub-metropolitan cities. Similarly, there will be one cooperative per 2,000 people in municipal area whereas the government will issue license to only one cooperative for every 500 people in rural municipality, according to the new regulations.<br /> “By fixing the number of cooperatives that can be operated in certain area based on population, the government has made it intention clear to send cooperatives into merger, particularly in urban areas, in a forceful way if required,” said the department’s spokesperson Paudel.</p> <p>There are a total of 34,512 cooperatives across the country as of December 2017, according to the data of the department. Among them, the number of savings and credit cooperatives is the highest. 13,578 savings and credit cooperatives are in operation in Nepal. They have mobilized a total of Rs 217.49 billion in deposits and disbursed Rs 179.88 billion in loans.</p> <p>However, cooperative leaders see a discrepancy in government’s policy and its action when it comes about reducing the number of cooperatives. </p> <p>“On the one hand, the government says that we already have more than enough cooperatives in the country. On the other, local governments are still registering cooperatives,” said NEFSCUN’s Chairperson Paudyal. “The government should first fix the number of cooperatives that the country needs and than implement its policy accordingly,” he added. </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-06-12', 'modified' => '2021-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '13270', 'image' => '20210612114626_Cooperatives_merger.jpg', 'article_date' => '2021-06-12 11:39:20', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 14 => array( 'Article' => array( 'id' => '13523', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Paracetamol ', 'sub_title' => '', 'summary' => 'June 11: The market is currently reeling under shortage of paracetamol due to production cuts, artificial shortage and high demand for the essential drug in the market. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 11: The market is currently reeling under shortage of paracetamol due to production cuts, artificial shortage and high demand for the essential drug in the market. In the wake of the second wave of COVID-19 pandemic, there has been a massive surge in demand for paracetamol, a primary drug used for containing fever.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Sitaram Regmi, president of the Federation of Nepal Medical Entrepreneurs, said that the demand for paracetamol has been a record high since the month of April and it still remains high. “The demand for paracetamol has increased by 10 percent. Since the industries have also cut down the production, the market is witnessing a shortage,” he said. He added that customers are not getting easy access to the drug also due to artificial shortage.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to Regmi, production of paracetamol has also declined by 10 percent. He complained that although the industries can increase the production capacity up to 20 percent, they have not stepped up production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Industries producing paracetamol had reduced the production of the drug since April. Citing that the production cost of medicines like paracetamol, zinc, Vitamin C, doxycycline, and azithromycin used in treating COVID-19 patients is high, they have reduced the production of these medicines.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Nepal Pharmaceutical Association, has informed that the industries have cut down production due to the increasing price of raw materials. Narayan Chhetri, President of the Association, said that the price of the medicines fixed fourteen years ago is still unchanged. In spite of this, industries were producing medicines incurring losses. But lately, shortages of raw materials have led to a decline in the production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Umesh Lal Shrestha, who was at the helm of the Association in 2008, said pricing of drugs doesn't even cover the production cost of the medicine.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman""> “Not any government has ever extended support to the industries. The government policy is not supportive enough to solve the problems of entrepreneurs and help develop the industry,” said Shrestha.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He further added that the practice of stockpiling paracetamol is the major reason behind the shortage.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-11', 'modified' => '2021-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '13269', 'image' => '20210611021604_20210517025320_20200818124630_1597700501.Clipboard10.jpg', 'article_date' => '2021-06-11 14:15:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The restrictions that were imposed on April 29 have been relaxed since June 15.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">As per the government's directive, the local Covid-19 crisis management centers have eased public movement. However, there are fears that the virus might reappear due to the relaxation in restrictive orders.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Earlier, shops in Birgunj were allowed to open till 10 am, but it has now been extended till noon. In Bara, the opening time has been set at 11 am. The supply of daily essentials, construction materials, and agricultural products and equipment will be facilitated by opening shops. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Subodh Kumar Gupta, president of the Birgunj Chamber of Commerce and Industry, is confident that business activities will pick up pace as the restriction on production and supply has been eased.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">At present, industries other than food and medicine are almost closed,” Gupta said, adding, "There is no problem in transportation and production of raw materials. However, the manufactured goods could not be sold in the market.”</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry in Province 2, claimed that 60 percent of the industries in the Bara-Parsa corridor have been shut down due to the restrictions.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Except for producing essential goods, manufacturing of other products is closed. Producers of essential commodities have not been able to operate at full capacity,” Lath told New Business Age.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The business community argues that trade and business will not pick up pace unless markets and transportation are opened. Lath said that the workers have started returning to work. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"The supply of workers has eased somewhat. Coronavirus infection is under control and relaxation of the prohibitory order would help business activities to gain momentum," he said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Gupta said that most of the industries and commercial establishments were facing crisis.</span> <span style="font-family:"Times New Roman"">He said that they were unable to recovery money from the market due to the restriction on mobility and market activities. Due to this, there has been a problem of keeping the enterprise running, he added.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Chief Customs Officer at Birgunj Customs Harihar Poudel said that the decline in industrial and commercial activities has also affected the number of goods entering the country. Poudel informed that the import of most of the trade items has declined. According to Poudel, imports of food items, shoes, slippers, machinery parts, tools, paint industry materials, vehicles, fuel, and other items have declined.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Although the surge of the virus has decreased in recent days, there is a fear that the number of infections will increase after the prohibitory order is relaxed. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Gupta fears that the number of infection has declined due to the reduction in tests. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13283', 'image' => '20210615035229_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-06-15 15:51:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13536', 'article_category_id' => '1', 'title' => 'Businessmen Close Down Shops Permanently as Prohibitory Order gets Extended ', 'sub_title' => '', 'summary' => 'June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. They have started doing so as they are facing difficulty paying the rent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The prohibitory order issued by the government in the Kathmandu Valley on April 29 has been extended for one more week until June 21. The businessmen say that the extended lockdown has led them to vacate the shutters.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Nepal National Entrepreneurs’ Federation, more than 1,500 businessmen in the cities including Kathmandu Valley, Pokhara, Biratnagar, Butwal and Nepalgunj have vacated the shutters in the last one week. According to the president of the federation Naresh Katuwal, about 50 percent of businessmen who have vacated the shutters are from Kathmandu Valley. He said that the number of shutters vacated has increased in the main business hubs of Kathmandu including Thamel, New Road, Ason, Indrachowk, Koteshwor and Kalanki. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Most of those who have shut down their shops are small traders running fancy-dress stores, shoe shops and hotels. According to the federation, about 40 percent of the shutters for commercial purposes were vacated in Kathmandu Valley last year due to the extended lockdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Stating that small and medium entrepreneurs have been most affected by the lockdown last year and now, Katuwal said that they would disobey the government’s order if the lockdown is extended beyond June 22.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In addition, Baikuntha Dahal, general secretary of the National Trade Association New Road, said that if the government extends the lockdown again from next week, they would protest against the decision and resume their business.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">If the government keeps extending the lockdown, the businessmen say that their demand including waiver of interest on loan taken from banks and discount on the rent should be fulfilled.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Depending on the location, the traders have been paying a minimum rent of Rs 20,000 to Rs 200,000 in the main business centers of Kathmandu.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Due to the lockdown, small and medium-sized businesses that contribute about 22 percent of the country's gross domestic product and provide employment to more than 1.7 million people have been halted. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13282', 'image' => '20210615122136_20200828035107_20171127050546_thamel.jpg', 'article_date' => '2021-06-15 12:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13535', 'article_category_id' => '1', 'title' => '‘Proposal to Graduate Nepal from LDC status to be Presented for Endorsement' ', 'sub_title' => '', 'summary' => 'June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC), according to the state-owned national news agency RSS. In this connection, preparation is being made to get the final proposal endorsed from upcoming General Assembly of the United Nations. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS reported that the UN Economic and Social Council (ECOSOC) has principally given a consent to present the proposal in the upcoming UNGA for endorsement. The UNGA is taking place on September later this year. </span><br /> <span style="font-family:"Arial Unicode MS"">Chief of the Permanent Mission of Nepal to the United Nations in New York, Amrit Rai told RSS that a meeting of the UN’s ECOSOC held recently in New York also recommended Nepal being eligible to graduate to the country of mid-level income from the present status of low-income country and is presenting the proposal for endorsement in the upcoming UNGA. </span><br /> <span style="font-family:"Arial Unicode MS"">“Out of three stipulated criteria for graduation we had fulfilled two in 2015 and 2018 which paved our way for graduation,” RSS reported Rai. “Earlier, we had asked to put on hold the proposal for graduation due to the devastating earthquake. Now it is entering into the phase of endorsement,” Rai clarified. </span><br /> <span style="font-family:"Arial Unicode MS"">Nepal is in the list of eligible countries for graduate to developing country after meeting the two among the three criteria – per capita income in Gross Domestic Product, human asset index and economic and environmental vulnerability index. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, it requires three years for developing complementary plan of action for the transitional management following the endorsement of the graduation decision. However, heeding the request, UN has given Nepal an additional two years until 2026 owing to the troubled times caused by coronavirus. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13281', 'image' => '20210615114424_Nepal-PM-73rd-UNGA-Session.jpg', 'article_date' => '2021-06-15 11:43:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13537', 'article_category_id' => '1', 'title' => 'Private Sector to Construct 5 Hydropower Projects through BOT Model', 'sub_title' => '', 'summary' => 'June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1310.html">watch movie replicas</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1311.html">replica rolex watches</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1312.html">replica panerai watches for sale</a> </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government has decided to allow the private sector to build five projects of 169.42 MW capacity in two phases through competition. It is preparing to handover projects namely Dudhkoshi Hydropower Project-4 (47 MW), Sankhuwakhola Hydropower Project-1 (40.82MW), Lower Hongu Hydropower Project (30.20MW), Kawadikhola Hydropower Project (30 MW) and Ingu Khola Hydropower Project (21.40 MW) to the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">All these projects were studied by the Department of Electricity Development. The department had completed the study of these projects between 2018-2020. Madhu Prasad Bhetwal, spokesperson for the Ministry of Energy, Water Resources and Irrigation informed that the projects are being handed over to the private sector for construction.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In the first phase, proposals will be invited for the construction of Dudhkoshi-4, Sankhuwakhola-1, Lower Hongukhola and Ingu Khola hydropower projects to be constructed in Solukhumbu. Bhetwal said that applications will be invited in the second phase for the construction of Kawadikhola Hydropower Project to be built in Bajura.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Standard bidding process is being prepared to call for the applications for the four hydropower projects. After receiving approval from the ministry, the Department will call for application," he said, adding, "But infrastructure required for the construction of Kawadikhola have not been built. Once the required infrastructure is built, private sector will be permitted to build the project."</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Electricity of Dudhkoshi-4, Sankhuwakhola-1, Tallo Hongu and Ingu Khola hydropower projects will be connected to 132 KV Line substation, 132 KV Tumlingtar substation, 132 KV line substation respectively. Electricity of Kawadikhola Hydropower Project will be connected to 132 KV Mugu Karnali Hub.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">A secretary-level decision taken on August 20, 2020 had agreed to allow the private sector to develop the projects in the build, operate and transfer (BOT) model.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13280', 'image' => '20210615123209_20150823012330_ep1.jpg', 'article_date' => '2021-06-15 12:31:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13534', 'article_category_id' => '1', 'title' => ' Supply of Petroleum Products Obstructed ', 'sub_title' => '', 'summary' => 'June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel. They had threatened few weeks ago to stop the supply if they were not given COVID-19 vaccines. The association chair Ishwar Lama shared that they were compelled to halt the supplies as their demands were not heard by the concerned authorities. </span><br /> <span style="font-family:"Arial Unicode MS"">With this, smooth supply of the petroleum product, especially in private petrol pumps has been affected. He added that the internal supplies from Barauni, Amlekhgunj and other areas have been obstructed. The Bagmati Province Depot, Thankot has stated that the supplies have been obstructed from Sunday. </span><br /> <span style="font-family:"Arial Unicode MS"">Meanwhile, Nepal Petroleum Dealers’ National Association has stated that shortage of petroleum products may be witnessed from Tuesday (June 15) as the government is relaxing the prohibitory order in Kathmandu valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13279', 'image' => '20210615113009_20200802105911_petrolpump.jpg', 'article_date' => '2021-06-15 11:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13533', 'article_category_id' => '1', 'title' => 'Readymade Goods worth Rs 1 Billion Stuck in Warehouses due to Suspension of Export ', 'sub_title' => '', 'summary' => 'June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. Since the outbreak of Covid-19, both air and sea fares have gone up, leaving the readymade garment industry no option than to stockpile goods worth Rs 1 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The goods including half-pants, t-shirts, shirts, trousers produced by the industries even before the lockdown are still in the warehouse. Although there is a demand for readymade garments produced in Nepal from European countries at the moment, businessmen have not been able to export goods even if they wanted to due to the rise in shipping charges due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Exporters now have to pay up to three times more than usual shipping charges for exporting goods. Earlier, the price of goods exported to Europe and the United States by air was USD 3 per kg, but now it has grown to USD 9. Similarly, the fare is equally expensive via waterway. The Garment Association of Nepal has informed that shipping charge through waterways has increased from USD 1400 per container to USD 2200. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Readymade garments produced in Nepal are exported to European countries including Germany, France, Hungary, Denmark, Italy, Norway, and even to the USA, Australia, and Canada. The main market for Nepal’s readymade garments is Europe, where about 70 percent of Nepal-made products are consumed.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Even in last year's lockdown, goods worth more than Rs 1.5 billion were stuck in the warehouses. Ashok Agrawal, president of the association, said that the industries have reduced their production capacity to around 30 percent as they could not export their products due to the problems in paying rent. He also informed that the direct impact of the reduction in production is falling on the working class people involved in the industry. At present, 50 percent of the 10,000 workers of 50 industries in Nepal have lost their jobs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Exporting goods at high fares increases the cost of goods and we have to sell them at higher prices. When we try to sell at higher prices, foreigners start buying goods from other countries instead of buying our goods," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Compared to Nepal, the freight rates are cheaper for the countries connected to the sea. When Nepali businessmen have to pay for a truck and then a ship to Kolkata, it becomes expensive. Due to this, the cost of Nepali products becomes more expensive compared to other countries.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The demand for readymade garments tends to be seasonal. Therefore, the season of clothes in stock now ends soon and then it has to be held till the next season. That would cost the businessmen millions of additional charge. The textile industry, which is facing problems due to the ban on exports, is currently going through a crisis.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Therefore, the association demanded the government to provide concessional loans to the garment industry, which has been playing a big role in increasing employment and export of Nepal. The industry, which had a turnover of Rs 7 billion in the last fiscal year, is expected to see a sharp decline in the current fiscal year due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Fifteen years ago, there were about 1,200 readymade garment industries in Nepal. More than 100,000 workers were employed in those garment factries. Currently, only 50 readymade garment industries are in operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Entrepreneurs say that the cost of readymade garments produced in Nepal is more expensive than the readymade garments produced in other countries as the raw materials required for the industry have to be imported from abroad.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13278', 'image' => '20210614032849_20200421011816_1587419377.jpg', 'article_date' => '2021-06-14 15:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13532', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Demand vaccination for Workers in the Forefront of Development Works', 'sub_title' => '', 'summary' => 'June 14: The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14:<strong> </strong></span><span style="font-family:"Times New Roman"">The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work. On Sunday, the federation requested Minister for Culture, Tourism and Civil Aviation Uma Shankar Argaria to make arrangements for vaccination.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The federation also expressed its views with the minister regarding the budget for the upcoming fiscal year and said that the provision of extending various projects for only six months is not scientific. The federation has demanded automatic extension of the deadline by one year for all the projects that have expired before April 29, 2021.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The federation has also demanded to postpone the entire procurement process including invitation for bids from the federal, state and local governments. The federation has drawn the attention of the minister saying that a large amount of dues of the construction companies are yet to be paid. Furthermore, the federation has also suggested stopping the process of inviting new bids without allocating budget for the payment of previous construction works. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13277', 'image' => '20210614012250_20190108-gmc-pho-1049.jpg', 'article_date' => '2021-06-14 13:22:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13531', 'article_category_id' => '1', 'title' => 'Road Excavation in 8 Districts Banned until mid-September ', 'sub_title' => '', 'summary' => 'June 14: With the arrival of monsoon, any works related to road construction has been banned in eight districts including Kathmandu Valley. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14: With the arrival of monsoon, any works related to road construction has been banned in eight districts including Kathmandu Valley. The Federal Road Supervision and Monitoring Office (FRSMO) under the Department of Roads has directed the concerned Road Division Offices to implement this decision from June 15.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Issuing a notice on Sunday, the FRSMO has ordered the concerned offices to halt excavation of roads under the Road Divisions in Kathmandu, Lalitpur, Bhaktapur, Hetauda, Khurkot, Nuwakot, Bharatpur and Charikot. Engineer Kailash Kumar Shrestha, superintending of the FRSMO, informed that the maintenance of various roads cannot be done immediately, and so they have asked not to dig roads from June 15 till mid-September.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He said that the excavation of road for drinking water, sewerage, electricity and telephone purpose has been stopped as it is not possible to blacktop the road and it will be difficult to work due to rain.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The FRSMO has also warned of action if any unit is found t have dug the roads against its instruction. The office has made it clear that no road will be allowed to be dug and if anyone is found digging, action will be taken as per the Public Roads Act 2031 BS. Under the FRSMO, more than 3,000 road networks have been expanded in these districts.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13276', 'image' => '20210614011147_20190529122404__MG_5482.JPG', 'article_date' => '2021-06-14 13:11:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13530', 'article_category_id' => '1', 'title' => 'Prohibitory Order in Kathmandu Valley Extended by 1 more Week', 'sub_title' => 'Groceries and stationery shops to open till 11 am ', 'summary' => 'June 14: The government authorities in the Kathmandu Valley have extended the prohibitory order by one more week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 14: The government authorities in the Kathmandu Valley have extended the prohibitory order by one more week. According to the state-owned national news agency RSS, restrictions have been eased from June 14 but the prohibitory order will remain in force until June 21.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">A joint meeting of the Chief District Officers of Kathmandu, Lalitpur and Bhaktapur took a decision to this effect on Sunday (June 13). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">During the prohibitory order, people’s mobility will be restricted unless necessary. </span><br /> <span style="font-family:"Arial Unicode MS"">Time duration to open groceries and other shops has been extended until 11 in the morning. During the prohibitory order, vegetable and meat shops, groceries, dairy, stores selling drinking water and cooking gas and departmental stores will be allowed to open till 11 am. Vehicles supplying goods are allowed to run between 9 am to 11 am. </span><br /> <span style="font-family:"Arial Unicode MS"">Likewise, stationery shops and printing press will remain open until 11 am. Shops selling construction materials and electricity shops are allowed to open after 4 pm. </span><br /> <span style="font-family:"Arial Unicode MS"">Online marketing and home delivery service will remain open until 7 pm. Vehicle repairing service will be allowed until 9 pm. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions will continue their business by mobilising a limited number of human resources. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13275', 'image' => '20210614115927_20200601121121_lockdown.jpg', 'article_date' => '2021-06-14 11:58:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13528', 'article_category_id' => '1', 'title' => 'One-Stop Service Centre to Provide Services Electronically', 'sub_title' => '', 'summary' => 'June 13: The government has initiated the process of developing software for the One-Stop Service Centre two years after its establishment. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 13: The government has initiated the process of developing software for the One-Stop Service Centre two years after its establishment. </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:"Times New Roman"">The centre was set up on May 15, 2019 with the objective of providing services to the industries such as registration, license renewal, approval of foreign investment, providing incentives, discounts and various other facilities from one single point.</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:"Times New Roman"">In order to provide the services electronically, the Department of Industry (DoI) has selected a Nepali company to develop a software for the centre. </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:"Times New Roman"">Jibalal Bhusal, Director General of the Department, informed that DoI has selected a Nepali company to develop the software after completing the tender process. Once the software is developed, investors, industrialists and service seekers will not have to visit the DoI physically for the approval of foreign investment, industry closure and trademark registration.</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:"Times New Roman"">However, industrialists must visit the department to receive the certificate. The government has announced in the budget programme for the fiscal year 2021/22 that all the services to be provided from the One-Stop Service Centre will be made available electronically. </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:"Times New Roman"">"We can't ensure services will be provided online from the upcoming fiscal year since it takes a year to develop the software," Bhusal 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:"Times New Roman"">The department has been providing services to the industrialists and investors through the One-Stop Service Centre in line with the one-door policy since the last two years. An official of the department informed that the DoI was looking for a company to develop software but were unable to find such company before.</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:"Times New Roman"">The One-Stop Service Center has representation of fourteen institutional bodies and nine units. The Inland Revenue Department, Company Registrar’s Office, Department of Immigration and Nepal Electricity Authority are some of the institutional bodies that will provide integrated service from the one-stop service centre. </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:"Times New Roman"">The center has representation of foreign investment and technology transfer unit, industry registration, environment, visa, foreign exchange, land facilitation unit among others. Bhusal said that a separate umbrella act is required to make the functions of the one-stop service center more effective in the long run.</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:"Times New Roman"">The umbrella act has been proposed to make the work of the One-Stop Service Centre effective," he said, adding, "With the implementation of the Act, DoI can mobilize the manpower and resources required for the institutional bodies."</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:"Times New Roman"">At present, human resources are working as representative of the concerned body and are accountable to the same body.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13274', 'image' => '20210613040957_My Effect.jpg', 'article_date' => '2021-06-13 16:07:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13529', 'article_category_id' => '1', 'title' => 'Monsoon enters Nepal, More Rainfall Expected this Year ', 'sub_title' => '', 'summary' => 'June 13: Monsoon that entered Province 1, 2 and Bagmati Province since Friday has made its way to Gandaki and Lumbini Provinces from Saturday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 13: Monsoon that entered Province 1, 2 and Bagmati Province since Friday has made its way to Gandaki and Lumbini Provinces from Saturday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, the monsoon will enter the western parts of the country in a day or two.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Division informed that there is a possibility of light to moderate rainfall in many places of the country after monsoon becomes active later this week, the state-owned national news agency RSS reported. Generally, the monsoon starts on June 13 and exits on October 2 in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Most places of the country may receive more rainfall than average during this monsoon, according to the South Asian Climate Outlook Forum. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The National Disaster Risk Reduction and Management Authority (NDRRMA) had earlier issued warning of more than normal rainfall this year. Chief Executive of NDRRMA Anil Pokharel has been urging the public to remain alert to avoid possible losses of lives and properties from monsoon-induced disasters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The NDRRMA has launched Impact Based Forecasting (IBF) as a pilot project in nine districts – </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Sindhupalchowk, Gorkha, Rasuwa, Baglung, Myagdi, Syangja, Dailekh, Kalikot and Jajarkot – for early warning against disaster, NDRRMA’s Communication Expert Ranjana Shrestha informed New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, this technique used to be implied to forecast floods. But now, NDRRMA has launched a pilot project in 9 districts through which prediction of even landslide can be done,” said Shrestha.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the Meteorological Forecasting Division said there is an impact of a low-pressure belt from the northwestern Bay of Bengal and surrounding areas in the country’s east and central area and of a mix of westerly and local winds in the western areas. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:Arial">As a result, the country received rainfall on Saturday following a partial or normal change in the weather.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13273', 'image' => '20210613043257_2021SECVPF.jpeg', 'article_date' => '2021-06-13 16:32:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13526', 'article_category_id' => '1', 'title' => 'World Bank Approves $60 Million to Strengthen Nepal’s Higher Education ', 'sub_title' => '', 'summary' => 'June 13: The World Bank has approved US$ 60 million to improve the quality of higher education in Nepal. ', 'content' => '<p><em>Photo Courtesy: World Bank Nepal's Facebook page</em></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 13: The World Bank has approved US$ 60 million to improve the quality of higher education in Nepal. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Issuing a statement on June 11, the World Bank said that the fund will be utilized to scale up online learning and expand access to academic institutions for underprivileged and vulnerable students. </span><br /> <span style="font-family:"Arial Unicode MS"">“Improving access to quality higher education and helping students acquire the skills that are in demand in the labor market will contribute to Nepal’s COVID-19 recovery and strengthen its resilience,” the statement quoted Faris Hadad-Zervos, the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, as saying. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The Nurturing Excellence in Higher Education Program of the World Bank builds on Nepal’s previous successful higher education projects supported through results-based financing, the statement further said. </span><br /> <span style="font-family:"Arial Unicode MS"">The World Bank’s country office said that the support would help the government of Nepal align its higher education sector with labor market needs, boost collaborative research and entrepreneurship, improve governance, and access to quality higher education, especially for disadvantaged students. </span><br /> “The COVID-19 pandemic has created strong incentives to expand online platforms and blended learning, which the program will help scale up across Nepal’s universities.” </span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Cambria"><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13272', 'image' => '20210613074924_19876860n.jpg', 'article_date' => '2021-06-13 07:48:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13527', 'article_category_id' => '1', 'title' => 'Five Former PMs Against Extraction of Stones, Sand and Aggregates ', 'sub_title' => '', 'summary' => 'June 13: Five former prime ministers have demanded the government to immediately withdraw the new arrangement made for the export of sand, aggregates, and stones through the budget for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 13: Five former prime ministers have demanded the government to immediately withdraw the new arrangement made for the export of sand, aggregates, and stones through the budget for the upcoming fiscal 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:"Times New Roman"">Former Prime Ministers Sher Bahadur Deuba, Pushpa Kamal Dahal, Madhav Kumar Nepal, Jhala Nath Khanal, and Baburam Bhattarai on June 12 issued the joint statement demanding the withdrawal of the provision from the budget.</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:"Times New Roman"">The former prime ministers were of the view that the country is facing an unstable political situation due to the wrongdoings of the incumbent prime minister. They said that the decision of the government to excavate stones, aggregates, and sand from different parts of the country and export them abroad in the name of reducing the trade deficit is anti-national and against the well-being of the citizens.</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:"Times New Roman"">They pointed out that the implementation of such provision would create a serious environmental problem by affecting the geography of Nepal which is in a very sensitive situation. Likewise, environmentalists say such excavations in the Chure and Mahabharata ranges could lead to deforestation, drying up of water sources, and desertification in the Terai region.</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:"Times New Roman"">"We strongly oppose the government's decision and demand its immediate revocation. We urge the caretaker government not to work in a way that affects the country and the people, and request the administration, security, and other state bodies not to engage in such wrongdoings," the joint statement 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:"Times New Roman"">In the budget for the Fiscal Year 2021/22, the government has announced to reduce the trade deficit by extracting minerals, stones, and aggregates.</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:"Times New Roman"">Political parties including the Nepali Congress, Maoist Center, Janata Samajwadi Party, Rastriya Janamorcha, and environmentalists have been criticizing the government for exploiting the Chure region.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13271', 'image' => '20210613122650_River-Sand-Mining-1.jpg', 'article_date' => '2021-06-13 12:16:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13525', 'article_category_id' => '1', 'title' => 'Cooperatives Brace for Consolidation Amid Govt Push for Merger ', 'sub_title' => '', 'summary' => 'Following a footstep of bank and financial institutions (BFIs), cooperatives are also pursuing merger in recent days. ', 'content' => '<p><strong>Sagar Ghimire </strong></p> <p>KATHMANDU, June 12: Following a footstep of bank and financial institutions (BFIs), cooperatives are also pursuing merger in recent days. </p> <p>According to the data of Department of Cooperatives (DoC), a total of 128 cooperatives have gone into merger to become 50 entities as of mid April.</p> <p>This merger drive follows the government's recent push to lower the number of the cooperatives and strengthen their corporate governance. Amid a challenge of effective monitoring and regulation due to the high number of cooperatives, particularly saving and credit cooperatives, the government pursued a policy to promote merger of cooperatives. </p> <p>The government’s priority of cooperatives merger was even highlighted by the budget for the current fiscal year (2020/21). "Saving and credit cooperatives will be encouraged to go into merger," read the budget speech for the current fiscal year. </p> <p>Though the budget has announced that it will encourage merger among cooperatives, cooperative sector leaders say that the government has not introduced any incentive or subsidy for those institutions which opt for amalgamation. The merger spree so far is largely driven by stiff market competition or regulatory push rather than government’s incentivization, they say. </p> <p>Paritosh Paudyal, chairperson of Nepal Federation of Savings and Credit Cooperative Unions Ltd (NEFSCUN), said that most of the cooperatives have gone into merger after realizing that the merger makes them financially stronger and more competitive in the market. </p> <p>“When there is a lot of competition in the market due to presence of high number of cooperatives, it makes sense for many to go for merger and become bigger and stronger. It helps them to cut costs and stay competitive in the market,” said NEFSCUN Chairperson Paudyal. </p> <p>The merger also brings business consolidation and bolsters the capacity of saving credit cooperatives to withstand any shock or uncertainty, according to NEFSCUN Chairperson Paudyal. </p> <p>“Bank and financial instiututions are expanding their reaches. With higher investment on technology, they are cutting costs and providing their services at cheaper cost. On the other hand, many cooperatives are still operating manually,” said Paudyal. “Now, these cooperatives will also have to make investment in such technology and softwares to lower their costs and stay relevant in the market. Smaller cooperatives may not be in the position to do so. The only way forward is consolidation through mergers,” he said. </p> <p>Most of the cooperatives have found the merger a way to cope with membership duplication and become bigger and stronger entity that benefits their members due to lower costs and higher returns. </p> <p>Ekikrit Friendship Saving and Credit Cooperative Society Ltd (EFSCCS) is one among those cooperatives. The Dolakha-based cooperative is an entity formed after a merger among 14 different saving and cooperatives. In fact, the cooperative’s merger journey began even before the government started pushing for the amalgamation of cooperatives. It commenced its integrated operation in December 2014 following a merger between nine cooperatives. Three years later, it wooed two other cooperatives for the marriage. But, its merger journey did not stop there. Three other saving and credit cooperatives also merged into Ekikrit Friendship last year. </p> <p>Keshab Prasad Dahal, the CEO of EFSCCS, said that their merger initiative was aimed mainly at addressing the problem of membership duplication and making the institution financially stronger and bigger. </p> <p>“While there were many members who were getting services from more than one cooperative, we thought combining them would be in the best interest of both institutions and our shareholders. The consolidation not only helped the cooperative to enhance its financial capacity but also enabled it to provide loans at cheaper rate as well as higher return to the shareholders,” he said. </p> <p>According to CEO Dahal, the total number of shareholders has declined to nearly 5,500 from over 12,000 in 2014 while also increasing the capital and volume of deposits and loans. </p> <p>The government’s objective behind pushing for merger is aimed at lowering the high number of saving and credit cooperatives in the country, particularly in urban areas. Due to the lack of government’s capacity to supervise and regulate them, weak corporate governance and internal control in many cooperatives have become a serious concern. </p> <p>Officials are worried about the possibility of replay of the crisis of 2013 when at least 150 cooperatives including Oriental Cooperative had ran into trouble due to poor regulation. A committee led by former Special Court Judge Gauri Bahadur Karki had found these troubled cooperatives misappropriating nearly Rs 11 billion in deposits including Rs 5.5 billion by Oriental Cooperatives run by Sudheer Basnet. These depositors are still waiting to get their money back. </p> <p>Loosely-regulated cooperatives getting intro trouble is not the only risk that the government is worried about. There are also concerns of lack of monitoring and poor regulation posing a threat to the financial stability of the country. While bank and financial institutions are under strict regulation of Nepal Rastra Bank (NRB), thousands of saving and deposit cooperatives which also provide similar services are largely operating with little or no regulatory check. </p> <p>“High number of cooperatives has become a challenge to carry out supervision and enforce regulation. So, we have been pushing for the merger. We have set standards which even allow the government to send cooperatives into forceful merger,” said Surendra Raj Paudel, the spokesperson of the Department of Cooperatives. </p> <p>In 2019, the government introduced cooperatives regulation with a provision requiring existing cooperatives that operate against the standards to go for forceful merger.</p> <p>As per the new regulation, the government will allow registration of only one cooperative per 5,000 people in a ward of metropolitan and sub-metropolitan cities. Similarly, there will be one cooperative per 2,000 people in municipal area whereas the government will issue license to only one cooperative for every 500 people in rural municipality, according to the new regulations.<br /> “By fixing the number of cooperatives that can be operated in certain area based on population, the government has made it intention clear to send cooperatives into merger, particularly in urban areas, in a forceful way if required,” said the department’s spokesperson Paudel.</p> <p>There are a total of 34,512 cooperatives across the country as of December 2017, according to the data of the department. Among them, the number of savings and credit cooperatives is the highest. 13,578 savings and credit cooperatives are in operation in Nepal. They have mobilized a total of Rs 217.49 billion in deposits and disbursed Rs 179.88 billion in loans.</p> <p>However, cooperative leaders see a discrepancy in government’s policy and its action when it comes about reducing the number of cooperatives. </p> <p>“On the one hand, the government says that we already have more than enough cooperatives in the country. On the other, local governments are still registering cooperatives,” said NEFSCUN’s Chairperson Paudyal. “The government should first fix the number of cooperatives that the country needs and than implement its policy accordingly,” he added. </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-06-12', 'modified' => '2021-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '13270', 'image' => '20210612114626_Cooperatives_merger.jpg', 'article_date' => '2021-06-12 11:39:20', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 14 => array( 'Article' => array( 'id' => '13523', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Paracetamol ', 'sub_title' => '', 'summary' => 'June 11: The market is currently reeling under shortage of paracetamol due to production cuts, artificial shortage and high demand for the essential drug in the market. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 11: The market is currently reeling under shortage of paracetamol due to production cuts, artificial shortage and high demand for the essential drug in the market. In the wake of the second wave of COVID-19 pandemic, there has been a massive surge in demand for paracetamol, a primary drug used for containing fever.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Sitaram Regmi, president of the Federation of Nepal Medical Entrepreneurs, said that the demand for paracetamol has been a record high since the month of April and it still remains high. “The demand for paracetamol has increased by 10 percent. Since the industries have also cut down the production, the market is witnessing a shortage,” he said. He added that customers are not getting easy access to the drug also due to artificial shortage.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to Regmi, production of paracetamol has also declined by 10 percent. He complained that although the industries can increase the production capacity up to 20 percent, they have not stepped up production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Industries producing paracetamol had reduced the production of the drug since April. Citing that the production cost of medicines like paracetamol, zinc, Vitamin C, doxycycline, and azithromycin used in treating COVID-19 patients is high, they have reduced the production of these medicines.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Nepal Pharmaceutical Association, has informed that the industries have cut down production due to the increasing price of raw materials. Narayan Chhetri, President of the Association, said that the price of the medicines fixed fourteen years ago is still unchanged. In spite of this, industries were producing medicines incurring losses. But lately, shortages of raw materials have led to a decline in the production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Umesh Lal Shrestha, who was at the helm of the Association in 2008, said pricing of drugs doesn't even cover the production cost of the medicine.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman""> “Not any government has ever extended support to the industries. The government policy is not supportive enough to solve the problems of entrepreneurs and help develop the industry,” said Shrestha.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He further added that the practice of stockpiling paracetamol is the major reason behind the shortage.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-11', 'modified' => '2021-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '13269', 'image' => '20210611021604_20210517025320_20200818124630_1597700501.Clipboard10.jpg', 'article_date' => '2021-06-11 14:15:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The restrictions that were imposed on April 29 have been relaxed since June 15.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">As per the government's directive, the local Covid-19 crisis management centers have eased public movement. However, there are fears that the virus might reappear due to the relaxation in restrictive orders.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Earlier, shops in Birgunj were allowed to open till 10 am, but it has now been extended till noon. In Bara, the opening time has been set at 11 am. The supply of daily essentials, construction materials, and agricultural products and equipment will be facilitated by opening shops. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Subodh Kumar Gupta, president of the Birgunj Chamber of Commerce and Industry, is confident that business activities will pick up pace as the restriction on production and supply has been eased.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">At present, industries other than food and medicine are almost closed,” Gupta said, adding, "There is no problem in transportation and production of raw materials. However, the manufactured goods could not be sold in the market.”</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry in Province 2, claimed that 60 percent of the industries in the Bara-Parsa corridor have been shut down due to the restrictions.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Except for producing essential goods, manufacturing of other products is closed. Producers of essential commodities have not been able to operate at full capacity,” Lath told New Business Age.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The business community argues that trade and business will not pick up pace unless markets and transportation are opened. Lath said that the workers have started returning to work. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"The supply of workers has eased somewhat. Coronavirus infection is under control and relaxation of the prohibitory order would help business activities to gain momentum," he said.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Gupta said that most of the industries and commercial establishments were facing crisis.</span> <span style="font-family:"Times New Roman"">He said that they were unable to recovery money from the market due to the restriction on mobility and market activities. Due to this, there has been a problem of keeping the enterprise running, he added.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Chief Customs Officer at Birgunj Customs Harihar Poudel said that the decline in industrial and commercial activities has also affected the number of goods entering the country. Poudel informed that the import of most of the trade items has declined. According to Poudel, imports of food items, shoes, slippers, machinery parts, tools, paint industry materials, vehicles, fuel, and other items have declined.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Although the surge of the virus has decreased in recent days, there is a fear that the number of infections will increase after the prohibitory order is relaxed. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Gupta fears that the number of infection has declined due to the reduction in tests. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13283', 'image' => '20210615035229_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2021-06-15 15:51:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13536', 'article_category_id' => '1', 'title' => 'Businessmen Close Down Shops Permanently as Prohibitory Order gets Extended ', 'sub_title' => '', 'summary' => 'June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 15: With the extension of prohibitory order imposed to control coronavirus pandemic, businessmen have started shutting down their shops permanently. They have started doing so as they are facing difficulty paying the rent.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The prohibitory order issued by the government in the Kathmandu Valley on April 29 has been extended for one more week until June 21. The businessmen say that the extended lockdown has led them to vacate the shutters.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to the Nepal National Entrepreneurs’ Federation, more than 1,500 businessmen in the cities including Kathmandu Valley, Pokhara, Biratnagar, Butwal and Nepalgunj have vacated the shutters in the last one week. According to the president of the federation Naresh Katuwal, about 50 percent of businessmen who have vacated the shutters are from Kathmandu Valley. He said that the number of shutters vacated has increased in the main business hubs of Kathmandu including Thamel, New Road, Ason, Indrachowk, Koteshwor and Kalanki. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Most of those who have shut down their shops are small traders running fancy-dress stores, shoe shops and hotels. According to the federation, about 40 percent of the shutters for commercial purposes were vacated in Kathmandu Valley last year due to the extended lockdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Stating that small and medium entrepreneurs have been most affected by the lockdown last year and now, Katuwal said that they would disobey the government’s order if the lockdown is extended beyond June 22.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In addition, Baikuntha Dahal, general secretary of the National Trade Association New Road, said that if the government extends the lockdown again from next week, they would protest against the decision and resume their business.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">If the government keeps extending the lockdown, the businessmen say that their demand including waiver of interest on loan taken from banks and discount on the rent should be fulfilled.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Depending on the location, the traders have been paying a minimum rent of Rs 20,000 to Rs 200,000 in the main business centers of Kathmandu.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Due to the lockdown, small and medium-sized businesses that contribute about 22 percent of the country's gross domestic product and provide employment to more than 1.7 million people have been halted. </span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13282', 'image' => '20210615122136_20200828035107_20171127050546_thamel.jpg', 'article_date' => '2021-06-15 12:20:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13535', 'article_category_id' => '1', 'title' => '‘Proposal to Graduate Nepal from LDC status to be Presented for Endorsement' ', 'sub_title' => '', 'summary' => 'June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 15: Nepal has met the minimum required criteria to graduate to the status of developing country with mid-level income from the category of Least Developed Country (LDC), according to the state-owned national news agency RSS. In this connection, preparation is being made to get the final proposal endorsed from upcoming General Assembly of the United Nations. </span><br /> <span style="font-family:"Arial Unicode MS"">RSS reported that the UN Economic and Social Council (ECOSOC) has principally given a consent to present the proposal in the upcoming UNGA for endorsement. The UNGA is taking place on September later this year. </span><br /> <span style="font-family:"Arial Unicode MS"">Chief of the Permanent Mission of Nepal to the United Nations in New York, Amrit Rai told RSS that a meeting of the UN’s ECOSOC held recently in New York also recommended Nepal being eligible to graduate to the country of mid-level income from the present status of low-income country and is presenting the proposal for endorsement in the upcoming UNGA. </span><br /> <span style="font-family:"Arial Unicode MS"">“Out of three stipulated criteria for graduation we had fulfilled two in 2015 and 2018 which paved our way for graduation,” RSS reported Rai. “Earlier, we had asked to put on hold the proposal for graduation due to the devastating earthquake. Now it is entering into the phase of endorsement,” Rai clarified. </span><br /> <span style="font-family:"Arial Unicode MS"">Nepal is in the list of eligible countries for graduate to developing country after meeting the two among the three criteria – per capita income in Gross Domestic Product, human asset index and economic and environmental vulnerability index. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, it requires three years for developing complementary plan of action for the transitional management following the endorsement of the graduation decision. However, heeding the request, UN has given Nepal an additional two years until 2026 owing to the troubled times caused by coronavirus. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13281', 'image' => '20210615114424_Nepal-PM-73rd-UNGA-Session.jpg', 'article_date' => '2021-06-15 11:43:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13537', 'article_category_id' => '1', 'title' => 'Private Sector to Construct 5 Hydropower Projects through BOT Model', 'sub_title' => '', 'summary' => 'June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 15: The government has decided to allow the private sector to build, operate and transfer five different hydropower projects through open competition.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1310.html">watch movie replicas</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1311.html">replica rolex watches</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1312.html">replica panerai watches for sale</a> </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The government has decided to allow the private sector to build five projects of 169.42 MW capacity in two phases through competition. It is preparing to handover projects namely Dudhkoshi Hydropower Project-4 (47 MW), Sankhuwakhola Hydropower Project-1 (40.82MW), Lower Hongu Hydropower Project (30.20MW), Kawadikhola Hydropower Project (30 MW) and Ingu Khola Hydropower Project (21.40 MW) to the private sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">All these projects were studied by the Department of Electricity Development. The department had completed the study of these projects between 2018-2020. Madhu Prasad Bhetwal, spokesperson for the Ministry of Energy, Water Resources and Irrigation informed that the projects are being handed over to the private sector for construction.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">In the first phase, proposals will be invited for the construction of Dudhkoshi-4, Sankhuwakhola-1, Lower Hongukhola and Ingu Khola hydropower projects to be constructed in Solukhumbu. Bhetwal said that applications will be invited in the second phase for the construction of Kawadikhola Hydropower Project to be built in Bajura.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Standard bidding process is being prepared to call for the applications for the four hydropower projects. After receiving approval from the ministry, the Department will call for application," he said, adding, "But infrastructure required for the construction of Kawadikhola have not been built. Once the required infrastructure is built, private sector will be permitted to build the project."</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Electricity of Dudhkoshi-4, Sankhuwakhola-1, Tallo Hongu and Ingu Khola hydropower projects will be connected to 132 KV Line substation, 132 KV Tumlingtar substation, 132 KV line substation respectively. Electricity of Kawadikhola Hydropower Project will be connected to 132 KV Mugu Karnali Hub.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">A secretary-level decision taken on August 20, 2020 had agreed to allow the private sector to develop the projects in the build, operate and transfer (BOT) model.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13280', 'image' => '20210615123209_20150823012330_ep1.jpg', 'article_date' => '2021-06-15 12:31:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13534', 'article_category_id' => '1', 'title' => ' Supply of Petroleum Products Obstructed ', 'sub_title' => '', 'summary' => 'June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 15: The Petroleum Tanker Drivers’ Association has halted the supply of fuel. They had threatened few weeks ago to stop the supply if they were not given COVID-19 vaccines. The association chair Ishwar Lama shared that they were compelled to halt the supplies as their demands were not heard by the concerned authorities. </span><br /> <span style="font-family:"Arial Unicode MS"">With this, smooth supply of the petroleum product, especially in private petrol pumps has been affected. He added that the internal supplies from Barauni, Amlekhgunj and other areas have been obstructed. The Bagmati Province Depot, Thankot has stated that the supplies have been obstructed from Sunday. </span><br /> <span style="font-family:"Arial Unicode MS"">Meanwhile, Nepal Petroleum Dealers’ National Association has stated that shortage of petroleum products may be witnessed from Tuesday (June 15) as the government is relaxing the prohibitory order in Kathmandu valley. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-06-15', 'modified' => '2021-06-15', 'keywords' => '', 'description' => '', 'sortorder' => '13279', 'image' => '20210615113009_20200802105911_petrolpump.jpg', 'article_date' => '2021-06-15 11:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13533', 'article_category_id' => '1', 'title' => 'Readymade Goods worth Rs 1 Billion Stuck in Warehouses due to Suspension of Export ', 'sub_title' => '', 'summary' => 'June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14: Readymade garments worth Rs 1 billion have been stuck in the country due to the suspension of export activity. Since the outbreak of Covid-19, both air and sea fares have gone up, leaving the readymade garment industry no option than to stockpile goods worth Rs 1 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The goods including half-pants, t-shirts, shirts, trousers produced by the industries even before the lockdown are still in the warehouse. Although there is a demand for readymade garments produced in Nepal from European countries at the moment, businessmen have not been able to export goods even if they wanted to due to the rise in shipping charges due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Exporters now have to pay up to three times more than usual shipping charges for exporting goods. Earlier, the price of goods exported to Europe and the United States by air was USD 3 per kg, but now it has grown to USD 9. Similarly, the fare is equally expensive via waterway. The Garment Association of Nepal has informed that shipping charge through waterways has increased from USD 1400 per container to USD 2200. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Readymade garments produced in Nepal are exported to European countries including Germany, France, Hungary, Denmark, Italy, Norway, and even to the USA, Australia, and Canada. The main market for Nepal’s readymade garments is Europe, where about 70 percent of Nepal-made products are consumed.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Even in last year's lockdown, goods worth more than Rs 1.5 billion were stuck in the warehouses. Ashok Agrawal, president of the association, said that the industries have reduced their production capacity to around 30 percent as they could not export their products due to the problems in paying rent. He also informed that the direct impact of the reduction in production is falling on the working class people involved in the industry. At present, 50 percent of the 10,000 workers of 50 industries in Nepal have lost their jobs.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">"Exporting goods at high fares increases the cost of goods and we have to sell them at higher prices. When we try to sell at higher prices, foreigners start buying goods from other countries instead of buying our goods," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Compared to Nepal, the freight rates are cheaper for the countries connected to the sea. When Nepali businessmen have to pay for a truck and then a ship to Kolkata, it becomes expensive. Due to this, the cost of Nepali products becomes more expensive compared to other countries.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The demand for readymade garments tends to be seasonal. Therefore, the season of clothes in stock now ends soon and then it has to be held till the next season. That would cost the businessmen millions of additional charge. The textile industry, which is facing problems due to the ban on exports, is currently going through a crisis.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Therefore, the association demanded the government to provide concessional loans to the garment industry, which has been playing a big role in increasing employment and export of Nepal. The industry, which had a turnover of Rs 7 billion in the last fiscal year, is expected to see a sharp decline in the current fiscal year due to the pandemic.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Fifteen years ago, there were about 1,200 readymade garment industries in Nepal. More than 100,000 workers were employed in those garment factries. Currently, only 50 readymade garment industries are in operation.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Entrepreneurs say that the cost of readymade garments produced in Nepal is more expensive than the readymade garments produced in other countries as the raw materials required for the industry have to be imported from abroad.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13278', 'image' => '20210614032849_20200421011816_1587419377.jpg', 'article_date' => '2021-06-14 15:28:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13532', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Demand vaccination for Workers in the Forefront of Development Works', 'sub_title' => '', 'summary' => 'June 14: The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14:<strong> </strong></span><span style="font-family:"Times New Roman"">The Federation of Contractors Association of Nepal (FCAN) has requested the government to provide vaccine against COVID-19 to the workers and laborers as well as construction entrepreneurs who are working at the forefront of development work. On Sunday, the federation requested Minister for Culture, Tourism and Civil Aviation Uma Shankar Argaria to make arrangements for vaccination.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The federation also expressed its views with the minister regarding the budget for the upcoming fiscal year and said that the provision of extending various projects for only six months is not scientific. The federation has demanded automatic extension of the deadline by one year for all the projects that have expired before April 29, 2021.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The federation has also demanded to postpone the entire procurement process including invitation for bids from the federal, state and local governments. The federation has drawn the attention of the minister saying that a large amount of dues of the construction companies are yet to be paid. Furthermore, the federation has also suggested stopping the process of inviting new bids without allocating budget for the payment of previous construction works. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13277', 'image' => '20210614012250_20190108-gmc-pho-1049.jpg', 'article_date' => '2021-06-14 13:22:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13531', 'article_category_id' => '1', 'title' => 'Road Excavation in 8 Districts Banned until mid-September ', 'sub_title' => '', 'summary' => 'June 14: With the arrival of monsoon, any works related to road construction has been banned in eight districts including Kathmandu Valley. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 14: With the arrival of monsoon, any works related to road construction has been banned in eight districts including Kathmandu Valley. The Federal Road Supervision and Monitoring Office (FRSMO) under the Department of Roads has directed the concerned Road Division Offices to implement this decision from June 15.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Issuing a notice on Sunday, the FRSMO has ordered the concerned offices to halt excavation of roads under the Road Divisions in Kathmandu, Lalitpur, Bhaktapur, Hetauda, Khurkot, Nuwakot, Bharatpur and Charikot. Engineer Kailash Kumar Shrestha, superintending of the FRSMO, informed that the maintenance of various roads cannot be done immediately, and so they have asked not to dig roads from June 15 till mid-September.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He said that the excavation of road for drinking water, sewerage, electricity and telephone purpose has been stopped as it is not possible to blacktop the road and it will be difficult to work due to rain.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The FRSMO has also warned of action if any unit is found t have dug the roads against its instruction. The office has made it clear that no road will be allowed to be dug and if anyone is found digging, action will be taken as per the Public Roads Act 2031 BS. Under the FRSMO, more than 3,000 road networks have been expanded in these districts.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13276', 'image' => '20210614011147_20190529122404__MG_5482.JPG', 'article_date' => '2021-06-14 13:11:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13530', 'article_category_id' => '1', 'title' => 'Prohibitory Order in Kathmandu Valley Extended by 1 more Week', 'sub_title' => 'Groceries and stationery shops to open till 11 am ', 'summary' => 'June 14: The government authorities in the Kathmandu Valley have extended the prohibitory order by one more week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 14: The government authorities in the Kathmandu Valley have extended the prohibitory order by one more week. According to the state-owned national news agency RSS, restrictions have been eased from June 14 but the prohibitory order will remain in force until June 21.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">A joint meeting of the Chief District Officers of Kathmandu, Lalitpur and Bhaktapur took a decision to this effect on Sunday (June 13). </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">During the prohibitory order, people’s mobility will be restricted unless necessary. </span><br /> <span style="font-family:"Arial Unicode MS"">Time duration to open groceries and other shops has been extended until 11 in the morning. During the prohibitory order, vegetable and meat shops, groceries, dairy, stores selling drinking water and cooking gas and departmental stores will be allowed to open till 11 am. Vehicles supplying goods are allowed to run between 9 am to 11 am. </span><br /> <span style="font-family:"Arial Unicode MS"">Likewise, stationery shops and printing press will remain open until 11 am. Shops selling construction materials and electricity shops are allowed to open after 4 pm. </span><br /> <span style="font-family:"Arial Unicode MS"">Online marketing and home delivery service will remain open until 7 pm. Vehicle repairing service will be allowed until 9 pm. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Banks and financial institutions will continue their business by mobilising a limited number of human resources. </span></span></span></p> ', 'published' => true, 'created' => '2021-06-14', 'modified' => '2021-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '13275', 'image' => '20210614115927_20200601121121_lockdown.jpg', 'article_date' => '2021-06-14 11:58:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13528', 'article_category_id' => '1', 'title' => 'One-Stop Service Centre to Provide Services Electronically', 'sub_title' => '', 'summary' => 'June 13: The government has initiated the process of developing software for the One-Stop Service Centre two years after its establishment. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 13: The government has initiated the process of developing software for the One-Stop Service Centre two years after its establishment. </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:"Times New Roman"">The centre was set up on May 15, 2019 with the objective of providing services to the industries such as registration, license renewal, approval of foreign investment, providing incentives, discounts and various other facilities from one single point.</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:"Times New Roman"">In order to provide the services electronically, the Department of Industry (DoI) has selected a Nepali company to develop a software for the centre. </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:"Times New Roman"">Jibalal Bhusal, Director General of the Department, informed that DoI has selected a Nepali company to develop the software after completing the tender process. Once the software is developed, investors, industrialists and service seekers will not have to visit the DoI physically for the approval of foreign investment, industry closure and trademark registration.</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:"Times New Roman"">However, industrialists must visit the department to receive the certificate. The government has announced in the budget programme for the fiscal year 2021/22 that all the services to be provided from the One-Stop Service Centre will be made available electronically. </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:"Times New Roman"">"We can't ensure services will be provided online from the upcoming fiscal year since it takes a year to develop the software," Bhusal 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:"Times New Roman"">The department has been providing services to the industrialists and investors through the One-Stop Service Centre in line with the one-door policy since the last two years. An official of the department informed that the DoI was looking for a company to develop software but were unable to find such company before.</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:"Times New Roman"">The One-Stop Service Center has representation of fourteen institutional bodies and nine units. The Inland Revenue Department, Company Registrar’s Office, Department of Immigration and Nepal Electricity Authority are some of the institutional bodies that will provide integrated service from the one-stop service centre. </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:"Times New Roman"">The center has representation of foreign investment and technology transfer unit, industry registration, environment, visa, foreign exchange, land facilitation unit among others. Bhusal said that a separate umbrella act is required to make the functions of the one-stop service center more effective in the long run.</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:"Times New Roman"">The umbrella act has been proposed to make the work of the One-Stop Service Centre effective," he said, adding, "With the implementation of the Act, DoI can mobilize the manpower and resources required for the institutional bodies."</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:"Times New Roman"">At present, human resources are working as representative of the concerned body and are accountable to the same body.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13274', 'image' => '20210613040957_My Effect.jpg', 'article_date' => '2021-06-13 16:07:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13529', 'article_category_id' => '1', 'title' => 'Monsoon enters Nepal, More Rainfall Expected this Year ', 'sub_title' => '', 'summary' => 'June 13: Monsoon that entered Province 1, 2 and Bagmati Province since Friday has made its way to Gandaki and Lumbini Provinces from Saturday.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">June 13: Monsoon that entered Province 1, 2 and Bagmati Province since Friday has made its way to Gandaki and Lumbini Provinces from Saturday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the Meteorological Forecasting Division under the Department of Hydrology and Meteorology, the monsoon will enter the western parts of the country in a day or two.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The Division informed that there is a possibility of light to moderate rainfall in many places of the country after monsoon becomes active later this week, the state-owned national news agency RSS reported. Generally, the monsoon starts on June 13 and exits on October 2 in Nepal. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Most places of the country may receive more rainfall than average during this monsoon, according to the South Asian Climate Outlook Forum. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The National Disaster Risk Reduction and Management Authority (NDRRMA) had earlier issued warning of more than normal rainfall this year. Chief Executive of NDRRMA Anil Pokharel has been urging the public to remain alert to avoid possible losses of lives and properties from monsoon-induced disasters.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The NDRRMA has launched Impact Based Forecasting (IBF) as a pilot project in nine districts – </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Sindhupalchowk, Gorkha, Rasuwa, Baglung, Myagdi, Syangja, Dailekh, Kalikot and Jajarkot – for early warning against disaster, NDRRMA’s Communication Expert Ranjana Shrestha informed New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">“</span></span><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier, this technique used to be implied to forecast floods. But now, NDRRMA has launched a pilot project in 9 districts through which prediction of even landslide can be done,” said Shrestha.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the Meteorological Forecasting Division said there is an impact of a low-pressure belt from the northwestern Bay of Bengal and surrounding areas in the country’s east and central area and of a mix of westerly and local winds in the western areas. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:Arial">As a result, the country received rainfall on Saturday following a partial or normal change in the weather.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13273', 'image' => '20210613043257_2021SECVPF.jpeg', 'article_date' => '2021-06-13 16:32:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13526', 'article_category_id' => '1', 'title' => 'World Bank Approves $60 Million to Strengthen Nepal’s Higher Education ', 'sub_title' => '', 'summary' => 'June 13: The World Bank has approved US$ 60 million to improve the quality of higher education in Nepal. ', 'content' => '<p><em>Photo Courtesy: World Bank Nepal's Facebook page</em></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">June 13: The World Bank has approved US$ 60 million to improve the quality of higher education in Nepal. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Issuing a statement on June 11, the World Bank said that the fund will be utilized to scale up online learning and expand access to academic institutions for underprivileged and vulnerable students. </span><br /> <span style="font-family:"Arial Unicode MS"">“Improving access to quality higher education and helping students acquire the skills that are in demand in the labor market will contribute to Nepal’s COVID-19 recovery and strengthen its resilience,” the statement quoted Faris Hadad-Zervos, the World Bank’s Country Director for the Maldives, Nepal, and Sri Lanka, as saying. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">The Nurturing Excellence in Higher Education Program of the World Bank builds on Nepal’s previous successful higher education projects supported through results-based financing, the statement further said. </span><br /> <span style="font-family:"Arial Unicode MS"">The World Bank’s country office said that the support would help the government of Nepal align its higher education sector with labor market needs, boost collaborative research and entrepreneurship, improve governance, and access to quality higher education, especially for disadvantaged students. </span><br /> “The COVID-19 pandemic has created strong incentives to expand online platforms and blended learning, which the program will help scale up across Nepal’s universities.” </span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Cambria"><strong> </strong></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13272', 'image' => '20210613074924_19876860n.jpg', 'article_date' => '2021-06-13 07:48:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13527', 'article_category_id' => '1', 'title' => 'Five Former PMs Against Extraction of Stones, Sand and Aggregates ', 'sub_title' => '', 'summary' => 'June 13: Five former prime ministers have demanded the government to immediately withdraw the new arrangement made for the export of sand, aggregates, and stones through the budget for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:"Times New Roman"">June 13: Five former prime ministers have demanded the government to immediately withdraw the new arrangement made for the export of sand, aggregates, and stones through the budget for the upcoming fiscal 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:"Times New Roman"">Former Prime Ministers Sher Bahadur Deuba, Pushpa Kamal Dahal, Madhav Kumar Nepal, Jhala Nath Khanal, and Baburam Bhattarai on June 12 issued the joint statement demanding the withdrawal of the provision from the budget.</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:"Times New Roman"">The former prime ministers were of the view that the country is facing an unstable political situation due to the wrongdoings of the incumbent prime minister. They said that the decision of the government to excavate stones, aggregates, and sand from different parts of the country and export them abroad in the name of reducing the trade deficit is anti-national and against the well-being of the citizens.</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:"Times New Roman"">They pointed out that the implementation of such provision would create a serious environmental problem by affecting the geography of Nepal which is in a very sensitive situation. Likewise, environmentalists say such excavations in the Chure and Mahabharata ranges could lead to deforestation, drying up of water sources, and desertification in the Terai region.</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:"Times New Roman"">"We strongly oppose the government's decision and demand its immediate revocation. We urge the caretaker government not to work in a way that affects the country and the people, and request the administration, security, and other state bodies not to engage in such wrongdoings," the joint statement 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:"Times New Roman"">In the budget for the Fiscal Year 2021/22, the government has announced to reduce the trade deficit by extracting minerals, stones, and aggregates.</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:"Times New Roman"">Political parties including the Nepali Congress, Maoist Center, Janata Samajwadi Party, Rastriya Janamorcha, and environmentalists have been criticizing the government for exploiting the Chure region.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-13', 'modified' => '2021-06-13', 'keywords' => '', 'description' => '', 'sortorder' => '13271', 'image' => '20210613122650_River-Sand-Mining-1.jpg', 'article_date' => '2021-06-13 12:16:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13525', 'article_category_id' => '1', 'title' => 'Cooperatives Brace for Consolidation Amid Govt Push for Merger ', 'sub_title' => '', 'summary' => 'Following a footstep of bank and financial institutions (BFIs), cooperatives are also pursuing merger in recent days. ', 'content' => '<p><strong>Sagar Ghimire </strong></p> <p>KATHMANDU, June 12: Following a footstep of bank and financial institutions (BFIs), cooperatives are also pursuing merger in recent days. </p> <p>According to the data of Department of Cooperatives (DoC), a total of 128 cooperatives have gone into merger to become 50 entities as of mid April.</p> <p>This merger drive follows the government's recent push to lower the number of the cooperatives and strengthen their corporate governance. Amid a challenge of effective monitoring and regulation due to the high number of cooperatives, particularly saving and credit cooperatives, the government pursued a policy to promote merger of cooperatives. </p> <p>The government’s priority of cooperatives merger was even highlighted by the budget for the current fiscal year (2020/21). "Saving and credit cooperatives will be encouraged to go into merger," read the budget speech for the current fiscal year. </p> <p>Though the budget has announced that it will encourage merger among cooperatives, cooperative sector leaders say that the government has not introduced any incentive or subsidy for those institutions which opt for amalgamation. The merger spree so far is largely driven by stiff market competition or regulatory push rather than government’s incentivization, they say. </p> <p>Paritosh Paudyal, chairperson of Nepal Federation of Savings and Credit Cooperative Unions Ltd (NEFSCUN), said that most of the cooperatives have gone into merger after realizing that the merger makes them financially stronger and more competitive in the market. </p> <p>“When there is a lot of competition in the market due to presence of high number of cooperatives, it makes sense for many to go for merger and become bigger and stronger. It helps them to cut costs and stay competitive in the market,” said NEFSCUN Chairperson Paudyal. </p> <p>The merger also brings business consolidation and bolsters the capacity of saving credit cooperatives to withstand any shock or uncertainty, according to NEFSCUN Chairperson Paudyal. </p> <p>“Bank and financial instiututions are expanding their reaches. With higher investment on technology, they are cutting costs and providing their services at cheaper cost. On the other hand, many cooperatives are still operating manually,” said Paudyal. “Now, these cooperatives will also have to make investment in such technology and softwares to lower their costs and stay relevant in the market. Smaller cooperatives may not be in the position to do so. The only way forward is consolidation through mergers,” he said. </p> <p>Most of the cooperatives have found the merger a way to cope with membership duplication and become bigger and stronger entity that benefits their members due to lower costs and higher returns. </p> <p>Ekikrit Friendship Saving and Credit Cooperative Society Ltd (EFSCCS) is one among those cooperatives. The Dolakha-based cooperative is an entity formed after a merger among 14 different saving and cooperatives. In fact, the cooperative’s merger journey began even before the government started pushing for the amalgamation of cooperatives. It commenced its integrated operation in December 2014 following a merger between nine cooperatives. Three years later, it wooed two other cooperatives for the marriage. But, its merger journey did not stop there. Three other saving and credit cooperatives also merged into Ekikrit Friendship last year. </p> <p>Keshab Prasad Dahal, the CEO of EFSCCS, said that their merger initiative was aimed mainly at addressing the problem of membership duplication and making the institution financially stronger and bigger. </p> <p>“While there were many members who were getting services from more than one cooperative, we thought combining them would be in the best interest of both institutions and our shareholders. The consolidation not only helped the cooperative to enhance its financial capacity but also enabled it to provide loans at cheaper rate as well as higher return to the shareholders,” he said. </p> <p>According to CEO Dahal, the total number of shareholders has declined to nearly 5,500 from over 12,000 in 2014 while also increasing the capital and volume of deposits and loans. </p> <p>The government’s objective behind pushing for merger is aimed at lowering the high number of saving and credit cooperatives in the country, particularly in urban areas. Due to the lack of government’s capacity to supervise and regulate them, weak corporate governance and internal control in many cooperatives have become a serious concern. </p> <p>Officials are worried about the possibility of replay of the crisis of 2013 when at least 150 cooperatives including Oriental Cooperative had ran into trouble due to poor regulation. A committee led by former Special Court Judge Gauri Bahadur Karki had found these troubled cooperatives misappropriating nearly Rs 11 billion in deposits including Rs 5.5 billion by Oriental Cooperatives run by Sudheer Basnet. These depositors are still waiting to get their money back. </p> <p>Loosely-regulated cooperatives getting intro trouble is not the only risk that the government is worried about. There are also concerns of lack of monitoring and poor regulation posing a threat to the financial stability of the country. While bank and financial institutions are under strict regulation of Nepal Rastra Bank (NRB), thousands of saving and deposit cooperatives which also provide similar services are largely operating with little or no regulatory check. </p> <p>“High number of cooperatives has become a challenge to carry out supervision and enforce regulation. So, we have been pushing for the merger. We have set standards which even allow the government to send cooperatives into forceful merger,” said Surendra Raj Paudel, the spokesperson of the Department of Cooperatives. </p> <p>In 2019, the government introduced cooperatives regulation with a provision requiring existing cooperatives that operate against the standards to go for forceful merger.</p> <p>As per the new regulation, the government will allow registration of only one cooperative per 5,000 people in a ward of metropolitan and sub-metropolitan cities. Similarly, there will be one cooperative per 2,000 people in municipal area whereas the government will issue license to only one cooperative for every 500 people in rural municipality, according to the new regulations.<br /> “By fixing the number of cooperatives that can be operated in certain area based on population, the government has made it intention clear to send cooperatives into merger, particularly in urban areas, in a forceful way if required,” said the department’s spokesperson Paudel.</p> <p>There are a total of 34,512 cooperatives across the country as of December 2017, according to the data of the department. Among them, the number of savings and credit cooperatives is the highest. 13,578 savings and credit cooperatives are in operation in Nepal. They have mobilized a total of Rs 217.49 billion in deposits and disbursed Rs 179.88 billion in loans.</p> <p>However, cooperative leaders see a discrepancy in government’s policy and its action when it comes about reducing the number of cooperatives. </p> <p>“On the one hand, the government says that we already have more than enough cooperatives in the country. On the other, local governments are still registering cooperatives,” said NEFSCUN’s Chairperson Paudyal. “The government should first fix the number of cooperatives that the country needs and than implement its policy accordingly,” he added. </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-06-12', 'modified' => '2021-06-12', 'keywords' => '', 'description' => '', 'sortorder' => '13270', 'image' => '20210612114626_Cooperatives_merger.jpg', 'article_date' => '2021-06-12 11:39:20', 'homepage' => true, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '35' ) ), (int) 14 => array( 'Article' => array( 'id' => '13523', 'article_category_id' => '1', 'title' => 'Market Reeling Under Shortage of Paracetamol ', 'sub_title' => '', 'summary' => 'June 11: The market is currently reeling under shortage of paracetamol due to production cuts, artificial shortage and high demand for the essential drug in the market. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">June 11: The market is currently reeling under shortage of paracetamol due to production cuts, artificial shortage and high demand for the essential drug in the market. In the wake of the second wave of COVID-19 pandemic, there has been a massive surge in demand for paracetamol, a primary drug used for containing fever.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Sitaram Regmi, president of the Federation of Nepal Medical Entrepreneurs, said that the demand for paracetamol has been a record high since the month of April and it still remains high. “The demand for paracetamol has increased by 10 percent. Since the industries have also cut down the production, the market is witnessing a shortage,” he said. He added that customers are not getting easy access to the drug also due to artificial shortage.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">According to Regmi, production of paracetamol has also declined by 10 percent. He complained that although the industries can increase the production capacity up to 20 percent, they have not stepped up production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Industries producing paracetamol had reduced the production of the drug since April. Citing that the production cost of medicines like paracetamol, zinc, Vitamin C, doxycycline, and azithromycin used in treating COVID-19 patients is high, they have reduced the production of these medicines.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">The Nepal Pharmaceutical Association, has informed that the industries have cut down production due to the increasing price of raw materials. Narayan Chhetri, President of the Association, said that the price of the medicines fixed fourteen years ago is still unchanged. In spite of this, industries were producing medicines incurring losses. But lately, shortages of raw materials have led to a decline in the production.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">Umesh Lal Shrestha, who was at the helm of the Association in 2008, said pricing of drugs doesn't even cover the production cost of the medicine.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman""> “Not any government has ever extended support to the industries. The government policy is not supportive enough to solve the problems of entrepreneurs and help develop the industry,” said Shrestha.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-family:"Times New Roman"">He further added that the practice of stockpiling paracetamol is the major reason behind the shortage.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-06-11', 'modified' => '2021-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '13269', 'image' => '20210611021604_20210517025320_20200818124630_1597700501.Clipboard10.jpg', 'article_date' => '2021-06-11 14:15:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
