April 28: Despite the recent surge in Covid-19 cases, as many as 294 summiteers of 42 groups have been granted permission for climbing the world's highest peak, Mount Everest, this year.…
…
April 28: Despite the recent surge in Covid-19 cases, as many as 294 summiteers of 42 groups have been granted permission for climbing the world's highest peak, Mount Everest, this year.…
April 28: Authorities in Nepal have banned travellers from using Tribhuvan International Airport (TIA) as transit point.…
April 27: With the start of the Nepali New Year, deposit collection of banking institutions has been affected due to low interest rate.…
International flights to and from Nepal’s Tribhuvan International Airport (TIA) have been affected due to the recent surge in coronavirus cases in the country and neighbouring…
April 27: The government has decided to enforce a week-long prohibitory order in Kathmandu valley effective from Thursday…
April 25: Finance Minister Bishnu Prasad Poudel has said that maximum efforts would be made to accommodate the genuine concerns and recommendations of the youth entrepreneurs in the upcoming fiscal year's annual budget.…
April 25: Nepal imported more gold in between mid-March and mid-April of the current fiscal year than the average import in other…
April 24: The UN Association of Nepal organized a book launch programme at Hotel Yellow Pagoda, Kathmandu, on April 22.…
April 23: Although Nepal expects to attract a large amount of foreign direct investment (FDI), the actual investment has been marginal.…
April 23: The lending of commercial banks has increased by 25.63 percent in the last eight months of the current fiscal year compared to the corresponding period of the last fiscal year.…
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April 22: Nepal and Thailand have agreed to cooperate with each other for promoting religious tourism.…
April 22: Shipping companies providing transportation services to Nepali businessmen for overseas trade have hiked their fare…
April 22: Ministries have expressed dissatisfaction over the budget ceiling set by the National Planning Commission (NPC) for the upcoming fiscal year (FY…
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The local entrepreneurs and vendors complained that their business was halted since 2020, after the emergence of COVID-19 in the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Prabin Giri, owner of Felt Mart Industry in Thamel, said, “The business is nil. I opened a shop to spend my free time since I have no other works to do. Showroom of Felt Mart Industry at Thamel used to do transaction of Rs 12,000 to Rs 15,000 a day before COVID-19 hit the business. Along with decline in retail transaction, the export volume has also gone down. Its current export accounts for 30 percent of the previous export volume. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Germany, Denmark and the UK are its major export markets. The two factories of Felt Mart Industry located at Sitapaila and Gwarko have also cut down production following the drop in the demand from the foreign countries. Previously, those factories used to provide employment to 60-70 people, which has now been reduced to 20. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Thamel area, which would otherwise be filled with foreign tourists, now wears a deserted look. Most of the shutters are pulled down and a very few tourists can be seen on the roads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">It has been more than a year since the country suffered from more than four months of protracted lockdown. Although the other sectors are gradually bouncing back with fear of second of wave of coronavirus, Thamel area is still reeling through the extreme impacts of COVID-19. Until and unless the number of tourists goes up, the business of Thamel shops is not expected not pick up pace. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">A report of Nepal Rastra Bank states that 32,997 tourists came to Nepal in the last three months of 2021. This gradual surge in the number of tourists had made the shop owners in Thamel enthusiastic but it was short-lived.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"> “The streets of Thamel had also witnessed some tourism-related activities with the rise in number of tourists, but it could not last long,” said Giri. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the year 2020, Nepal welcomed 230,085 tourists, according to the data provided by the Department of Immigration.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Madhu Dhungana, owner of Chomolungma Outdoor Gear Pvt Ltd, said if this pandemic exists for some more months, we might have to exit from the market. He further opined that lockdown is not the solution to this crisis. He suggests all people should take necessary measures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">If it were the normal times, Dhungana would have been busy selling outdoor gears for trekking. This is the peak time for the trekking and mountaineering expedition in the country. He is sustaining his business so far selling trekking items on sale to the local customers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the Department of Tourism, 82 expedition teams have been issued permits for the spring season of 2021. Meanwhile no permits were issued in the year 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nepal Book Depot, a book shop which is located besides Kathmandu Guest House, the oldest hotel of Thamel, also shares a similar story. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We used to do daily transactions of Rs 20,000 Rs 30,000 daily at the peak time which is nil now,” says Ganesh Karki, adding, “Foreign tourists are our major customers, and domestic customers rarely come here to purchase books.” </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13067', 'image' => '20210428011247_20201214121412_20200828035107_20171127050546_thamel.jpg', 'article_date' => '2021-04-28 13:12:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13321', 'article_category_id' => '1', 'title' => ' Mt Everest Ascent Sees Enthusiastic Participation', 'sub_title' => '', 'summary' => 'April 28: Despite the recent surge in Covid-19 cases, as many as 294 summiteers of 42 groups have been granted permission for climbing the world's highest peak, Mount Everest, this year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 28: Despite the recent surge in Covid-19 cases, as many as 294 summiteers of 42 groups have been granted permission for climbing the world's highest peak, Mount Everest, this year. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to the state-owned national news agency, RSS, this is so far the highest number of groups receiving permit for climbing the highest peak. RSS made such claim citing the Department of Tourism under the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS"">This is slightly higher than the number of climbers getting permission for climbing in the year 2019, RSS further reported. Only 41 groups of mountaineers had obtained permission to climb Mount Everest in 2019. </span><br /> <span style="font-family:"Arial Unicode MS"">The number is still likely to go up this time as there is possibility for more climbers to turn up to seek permission. According to the department, 82 mountaineering groups, including 42 groups for Mount Everest have received permits. </span><br /> <span style="font-family:"Arial Unicode MS"">The second highest number of mountaineers obtaining permission is 13 for the ascent of the Lhotse, RSS further said. Five groups have obtained permission for climbing the Mt Dhaulagiri while eight have got permission to scale Mt Annapurna. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, climbing of Mount Everest would start this week if the weather remains favourable. It may be noted that the ascent of the highest peak had been postponed for the summer season of 2020 due to COVID-19 pandemic. The mountaineering sector was reopened on May 13, 2020.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Revenue collection from royalty for climbing mountains in the summer season has reached Rs 530 million so far, according to the Mountaineering Section under the Department of Tourism. The year 2021 has remained enthusiastic in terms of royalty collection which amounted. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13066', 'image' => '20210428112643_20210219104343_20201108030120_Contribution of Mountains to the Tourism Economy_1.jpg', 'article_date' => '2021-04-28 11:26:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13320', 'article_category_id' => '1', 'title' => 'Government Bans Foreigners from Using TIA as Transit Airport', 'sub_title' => '', 'summary' => 'April 28: Authorities in Nepal have banned travellers from using Tribhuvan International Airport (TIA) as transit point. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 28: Authorities in Nepal have banned travellers from using Tribhuvan International Airport (TIA) as transit point. The Department of Immigration imposed the ban effective from April 28.</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 Tuesday (April 27), the department said that the government has restricted the arrival of foreigners intending to travel to third countries via Tribhuvan International Airport as a transit airport from April 28 considering the risk of Covid-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">However, the ongoing services provided to travelers arriving in Nepal as the final destination and departure from Nepal would continue unhindered, reads the statement.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Of late, Indian tourist had been visiting Nepal before travelling to third countries following a ban on air transportation in the neighbouring country in the wake of recent surge in Covid-19 cases. The Indian Embassy in Kathmandu has issued travel advisory to its citizens after the Department of Immigration issued the statement.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13065', 'image' => '20210428111434_20200922040433_20200310105652_aaa.jpg', 'article_date' => '2021-04-28 11:13:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13319', 'article_category_id' => '1', 'title' => 'Deposit Collection of Commercial Banks Declines', 'sub_title' => '', 'summary' => 'April 27: With the start of the Nepali New Year, deposit collection of banking institutions has been affected due to low interest rate. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 27: With the start of the Nepali New Year, deposit collection of banking institutions has been affected due to low interest rate. In the first two weeks of Baishakh (mid-April to April end), deposit collection of 27 commercial banks has continuously declined. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Bankers say that customers may have shifted towards development banks, finance companies and cooperatives because they offer attractive interest rate than commercial banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to the data published by Nepal Banker's Association on Monday, April 26, deposit collection has declined by Rs 392 billion in the first week of Baishakh and further declined by Rs 5 billion in the second week.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The credit flow which was continuously increasing until late last year declined by Rs 8 billion and was limited to Rs 356 billion. However, there was an increment in the second week. The credit flow increased by Rs 17 billion to Rs 358 billion. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ganeshraj Pokhrel, CEO of Citizens Bank International, said the relocation of customers to other group of banks has brought a decline in the deposit collection. “Customers have not withdrawn from banks to buy food items fearing food shortage. The facility of digital banking allows them to do so at anytime. Many development banks, cooperative are offering attractive interest rate which has lured customers towards them,” he adds.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Most of the banks raised the CCD ratio to 85 percent as prescribed by the Nepal Rastra Bank and they have also increased the interest rate on deposit to 8.5 percent. However, CCD ratio of most of the commercial banks is still low and they haven’t increased the interest rate either. That's why it is assumed deposits have been shifted to developments banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to NRB, CCD ratio of overall commercial banks is at 78.77 percent. "Average CCD ratio is 77%. If the government spends development budget in the fourth quarter, money is expected to come into banking system but it is feared to be affected by COVID-19 as the businesses affected by the second wave might seek for waivers," said Pokhrel. That's why profit of the banking institutions might not be as good as expected in the fourth quarter.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13064', 'image' => '20210427021438_20201216032922_20200419015315_bank-malware.jpg', 'article_date' => '2021-04-27 14:14:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13318', 'article_category_id' => '1', 'title' => 'Surge in Covid-19 Cases Affects International Flights', 'sub_title' => '', 'summary' => 'International flights to and from Nepal’s Tribhuvan International Airport (TIA) have been affected due to the recent surge in coronavirus cases in the country and neighbouring India.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">International flights to and from Nepal’s Tribhuvan International Airport (TIA) have been affected due to the recent surge in coronavirus cases in the country and neighbouring India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a source at the Civil Aviation Authority of Nepal (CAAN), the state-owned Nepal Airlines Corporation and Air India are considering to suspend flights between the two countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The official said on condition of anonymity that other international airline companies operating in Nepal were also opting to either reduce the number of flights or to stop operation due to the surge in coronavirus infection in the region. Only 20 international flights carrying a total of 2,300 passengers were operated on April 25 from the Tribhuvan International Airport.<br /> On Sunday, 50 Nepalis visited India through this airport, while 63 passengers from India arrived in Nepal. According to the office, altogether 2,000 people from abroad arrived in Nepal on Sunday. There were 22 flights on Saturday.<br /> Currently, Nepal Airlines, Himalayan Airlines, Air India, Al Jazeera Airways, Air Arabia, Qatar Airlines, Air China, Turkish Airlines, Silk, Fly Dubai operate international flights to and from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Thai Airlines has suspended flights since last year's lockdown. The alarming situation of Covid-19 in India has made airline companies more cautious, and Nepal-India flights have been reduced significantly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Flights between Nepal and India the are operated only by Nepal Airlines and Air India under the air-transport bubble agreement. Until a few weeks ago, Indians used to arrive in Nepal to stay in hotel quarantine.<br /> Due to this, the occupancy of hotels grew slightly as the Indians arrived here for quarantine before flying to the Gulf countries. A week ago, 500 Indians came to Nepal daily, but since April 25, the number has dropped dramatically.<br /> Although the government had banned such visitors from coming to Nepal on April 25, it revoked the decision a day later.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">On Monday, the Ministry of Health and Population issued a notice urging all the visitors who arrived in Nepal to undergo a PCR test.<br /> Thai Airlines suspended its flights to Nepal due to internal reasons. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Even though no company has officially announced that it will stop flying to Nepal so far, there is a possibility that Indian Airlines will halt its operation to Nepal, according to a government source.<br /> Stating that there are two reasons for this, the source said, "Some time ago, Indians used to come to Nepal and go to other countries. Now, it is clear that Nepal-India flights are declining as Indians are more affected by the pandemic."<br /> As the coronavirus infection is on the rise in Nepal, other international airlines are likely to reconsider flights to Nepal, the official added.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13063', 'image' => '20210427013836_20210402114024_EHdVeZuVAAArjYS.jpg', 'article_date' => '2021-04-27 13:37:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13317', 'article_category_id' => '1', 'title' => 'Government to Impose Week-long Prohibitory Order in Kathmandu Valley', 'sub_title' => 'All but essential services to be shut until May 5', 'summary' => 'April 27: The government has decided to enforce a week-long prohibitory order in Kathmandu valley effective from Thursday midnight.', 'content' => '<p><span style="font-size:12px"><span style="font-family:Arial,Helvetica,sans-serif"><em>An aerial view of the Kathmandu Valley in this file photo.</em></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">April 27: The government has decided to enforce a week-long prohibitory order in Kathmandu valley effective from Thursday midnight.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">Once the prohibitory order comes into effect, all but essential services will come to a halt. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The move is an attempt to curb the spread of coronavirus infection that has spiraled in the past few weeks. <br /> A joint meeting of the Chief District Officers of Kathmandu, Bhaktapur and Lalitpur on Monday (April 26) decided to shut down all services except essential ones. The meeting also decided to strictly monitor the flow of people into the valley.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">All gatherings including seminars, and conferences have been banned, while entertainment centres, cinema halls, gym, sports clubs, libraries, museums and zoo will also remain closed. <br /> In case of marriages, the authorities have decided to allow a maximum of 15 people attend the function. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">As per the decision, only vehicles carrying essential goods as well as ambulances carrying sick people, and those used by health workers and security persons will be allowed to ply on the streets. Government vehicles will require permits issued by the concerned ministry. <br /> The meeting has decided to allow grocery shops remain open until 10 in the morning and 5 to 7 in the evening. However, they need to follow the prescribed health protocols. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The prohibitory order will remain in force until May 5. During this period, anyone entering the Kathmandu valley will have to stay in quarantine and home isolation as prescribed by the concerned local level. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13062', 'image' => '20210427102436_20200903113103_1599056781.jpg', 'article_date' => '2021-04-27 10:22:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13316', 'article_category_id' => '1', 'title' => ' Finance Minister Pledges to Address Genuine Concerns of Entrepreneurs ', 'sub_title' => '', 'summary' => 'April 25: Finance Minister Bishnu Prasad Poudel has said that maximum efforts would be made to accommodate the genuine concerns and recommendations of the youth entrepreneurs in the upcoming fiscal year's annual budget. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 25: Finance Minister Bishnu Prasad Poudel has said that maximum efforts would be made to accommodate the genuine concerns and recommendations of the youth entrepreneurs in the upcoming fiscal year's annual budget. </span><br /> <span style="font-family:"Arial Unicode MS"">Receiving feedback from youth entrepreneurs on the new budget on Saturday, the finance minister assured to meet the demands of the entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS"">He, however, said that he cannot make public what are the genuine issues and are possible to be incorporated in the budget since he was in the process of budget making. The minister added that the incumbent government was in favour of the youth entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Poudel underscored the need to prepare the budget in a new manner based on the lessons learnt from COVID-19 and its impacts. </span><br /> <span style="font-family:"Arial Unicode MS"">He was of the view that some policy-level reforms were needed for the recovery of the country's economy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-04-25', 'modified' => '2021-04-25', 'keywords' => '', 'description' => '', 'sortorder' => '13061', 'image' => '20210425100924_20210110034934_1610265858.jpg', 'article_date' => '2021-04-25 10:08:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13315', 'article_category_id' => '1', 'title' => 'Import of Gold up in the Market', 'sub_title' => '', 'summary' => 'April 25: Nepal imported more gold in between mid-March and mid-April of the current fiscal year than the average import in other months.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 25: Nepal imported more gold in between mid-March and mid-April of the current fiscal year than the average import in other months. In other months of the current year, gold worth Rs 2.14 billion in average was being bought into the country from abroad. However, in April, gold worth Rs 3.27 billion was imported.<br /> According to the data released by the customs department, 460 kg of gold has entered Nepal in the review month. On an average, 300 kg of gold has been imported each month this year.<br /> <br /> However, according to the customs department, the import of gold has surged between mid-March and mid-April. It is due to the wedding season. In Nepal, the number of weddings is higher in the months of April and May.<br /> Marriages in Nepal are believed to be incomplete without gold. Due to this belief, gold consumption is high in Nepal during the wedding season. Therefore, gold imports have been increasing in April.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">President of the Federation of Nepal Gold and Silver Dealers Association Manika Ratna Shakya said that the import of gold has increased due to the wedding season. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"Gold consumption is higher in April due to the wedding season. Given the same situation, we have increased the import of gold than in the previous month," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">He said that more than 500 kg of gold has been imported in the first week of April alone. Shakya estimates that the gold business is likely to go up if the surge in coronavirus remains under control.<br /> The import volume of gold has been increased from 10 kg per day to 20 kg compared to last April. <br /> Commercial banks enjoy the right to import gold in Nepal. Banks have been importing gold in collaboration with the Federation of Nepal Gold and Silver Dealers Association.<br /> In the current fiscal year, gold worth Rs 19.31 billion has been shipped in, which is 43.46 percent more than the corresponding period of last year.<br /> According to the customs department, gold entrepreneurs have imported 2,760 kg of gold in the current fiscal year.<br /> Gold business in Nepal had come to a standstill during the start of the current fiscal year as the economy was hit by the coronavirus pandemic and the price of gold had also skyrocketed. However, import of gold is on the rise recently due to the open market demand.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-25', 'modified' => '2021-04-25', 'keywords' => '', 'description' => '', 'sortorder' => '13060', 'image' => '20210425100433_20201203030905_1606953115.Clipboard16.jpg', 'article_date' => '2021-04-25 10:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13314', 'article_category_id' => '1', 'title' => 'UN Association of Nepal Launches Book Consisting Articles of 25 Eminent Personalities', 'sub_title' => '', 'summary' => 'April 24: The UN Association of Nepal organized a book launch programme at Hotel Yellow Pagoda, Kathmandu, on April 22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 24: The UN Association of Nepal organized a book launch programme at Hotel Yellow Pagoda, Kathmandu, on April 22. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The book entitled ‘Nepal’s Foreign Policy and United Nations’ consisting of 25 articles by eminent personalities like foreign secretary, former foreign secretaries, former ambassadors, academics and intellectuals was launched by Nepal’s Foreign Minister Pradeep Kumar Gyawali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The programme was chaired by Associate Professor Dambar Bir Thapa, president of the association.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a statement issued by the association, its Co-President Radhesh Pant delivered the welcome speech, while Professor Dr Mohan P Lohani, a former ambassador, thanked the contributors for their cooperation in making the publication possible on time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Dr Nishchal Nath Pandey, director of Center for South Asian Studies, reviewed the book and congratulated the association for bringing out the book to coincide with the 75th anniversary of the UN and the 65th anniversary of Nepal’s UN membership.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Nepal’s Foreign Secretary Bharat Raj Paudyal highlighted the salient features of Nepal’s foreign policy and lauded the UN for its role in dealing with issues pertaining to sustainable development, climate change and financing for development, among others. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to the association, Chief Guest Foreign Minister Gyawali distributed certificates of appreciation to the contributors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-24', 'modified' => '2021-04-24', 'keywords' => '', 'description' => '', 'sortorder' => '13059', 'image' => '20210424075928_les-nacio.jpg', 'article_date' => '2021-04-24 19:58:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13313', 'article_category_id' => '1', 'title' => 'FDI Lower than Expected', 'sub_title' => 'In two and a half decades, Nepal has only received Rs 110 billion.', 'summary' => 'April 23: Although Nepal expects to attract a large amount of foreign direct investment (FDI), the actual investment has been marginal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 23: Although Nepal expects to attract a large amount of foreign direct investment (FDI), the actual investment has been marginal. However, the country has been holding investment conferences to attract huge FDIs but has only received Rs 110 billion so far, which is 34.1 percent of the total commitment amount. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Although foreign investors have expressed their intention and commitment to bring billions of rupees to Nepal in investment conferences held at different times, it seems that the country has received very little investment. A report on 'Foreign Direct Investment in Nepal' released by Nepal Rastra Bank on April 21 shows that the investment received by Nepal is not in accordance to the investment approved by the foreign investors.<br /> From FY 2052/53 to FY 2076/77, Nepal has approved FDIs of Rs 325.52 billion. However, the actual investment received by the country is much less than the commitment made by the investors. The Department of Industry and the Investment Board of Nepal (IBN) register the projects comprising foreign investment. The amount received by the registered projects is also less. In some years, it has been observed that the outflow of money from the country seems to be more than the</span></span><span style="font-size:14.0pt"> inflow of investment.<br /> The government held an investment summit in March 2017 BS and 2019 to attract foreign investment.<br /> Likewise, the Confederation of Nepalese Industries (CNI), a private sector organization, held the 'Nepal Infrastructure Conference' in August 2018.<br /> Nepal is eager to attract foreign investment, but there are procedural and policy hurdles. Issues like investment security have discouraged investors to invest. Even if the foreign investment projects are registered and approved, not all investments come in the same year.<br /> For the first time, the government has made a provision to bring 100 percent amount of the approved investment within 1 to 2 years</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">By amending the Foreign Investment and Technology Transfer (FITTA) Rules-2077 BS.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Former Chief Executive Officer (CEO) of the Board of Investment Radhesh Pant said that regulation was made as the investors would not invest in the absence of a conducive environment.<br /> According to a survey conducted by the Central Bank in 2060/61, Nepal approved an FDI of Rs 2.76 billion but received zero investment.<br /> "South Asian countries like the Maldives and Bhutan have received more FDI than Nepal," added Panta.<br /> He said that even though the Investment Board was established to attract investment, but nothing has improved. He argues that the tendency of government not to consider the private sector as a partner is less likely to attract investment even by partnering with foreign investors.<br /> How will investors come when there are multiple hurdles, argues Pant. The government needs to facilitate investors' by making the compliance hassle-free from project registration to the field, he questioned.<br /> He suggests that the investment will only increase if the project bank shows that Nepal is safe for investment.<br /> According to the central bank, in some years, investors have taken away around 23 percent of the approved FDI, out of Nepal. In 2058/59, 23.3 percent of the investment approved by Nepal was taken back by foreign investors. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">According to the NRB report, 51.1 percent or half of the amount approved in Nepal in 2076/77 has already come in. This year, Rs. 38.15 billion has been approved, while Nepal has already received Rs. 19.47 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13058', 'image' => '20210423103303_2-702x336.jpg', 'article_date' => '2021-04-23 10:32:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13312', 'article_category_id' => '1', 'title' => 'Commercial Banks’ Lending Increases by 25%', 'sub_title' => '', 'summary' => 'April 23: The lending of commercial banks has increased by 25.63 percent in the last eight months of the current fiscal year compared to the corresponding period of the last fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 23: The lending of commercial banks has increased by 25.63 percent in the last eight months of the current fiscal year compared to the corresponding period of the last fiscal year. Though the COVID-19 has extremely affected the country’s economy as a whole, the business of banking institutions remains an exception. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">In the review period, 27 commercial banks have disbursed additional loans of Rs729 billion. With the increase in the lending, a total of Rs 3,573 billion loans have been disbursed until the month of April by the commercial banks. In the review period of the last fiscal year, banks had given loan of Rs 2,844 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Commercial banks were operating partially for three months since the lockdown was imposed on March 24 last year. Yet, the business of commercial banks has been satisfactory. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, rise of COVID-19 cases and approaching second wave of the virus has presented challenges to the expansion of the business, says Bhuwan Kumar Dahal, president of Nepal Bankers’ Association. He expressed concern that most of the businesses might get affected again. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Mahesh Sharma Dhakal, Deputy CEO of Global IME Bank, said apart from the tourism industry, loans have been disbursed in other sectors and therefore the situation is not so discouraging so far. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lending of the banking institutions has gradually improved. NIC Asia has the highest total lending among the banks. NIC Asia Bank had announced various schemes from the beginning of the current fiscal year to attract borrowers. The bank has increased loans to the borrowers by 48.48 percent in the current fiscal year. With the increase in lending, the total lending of the bank has reached Rs 259 billion. Until the corresponding period of the last fiscal year, it had extended loan of Rs 175 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Mega Bank is second in the list of banks to have increased the lending in the review period of the current fiscal year. Mega Bank has increased its lending by 69.86 percent in the review period and disbursed credit amount of Rs 138 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kumari Bank has succeeded to disburse loan of Rs 43.2 billion and its total lending amount has reached to Rs 134 billion. Similarly, Nabil Bank has extended its lending by 27.88 percent and disbursed total loan of Rs 193 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">During the COVID-19 pandemic, Prabhu Bank, Citizens International Bank, Global IME Bank have extended an additional loan of Rs 40.86 billion, Rs 37.93 billion and Rs 34.39 billion respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Global IME Bank has increased its total loan facility by 17.10 percent to Rs 235 billion. During the COVID-19 pandemic it had provided Rs 201 billion loan in the corresponding period of the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Dhakal, Deputy CEO of the Global IME Bank, said the bank has not been able to increase the loan as expected in one year but it is satisfactory. He said that the bank still has sufficient capital for investment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">“If there were enough economic activities, it would require investment in infrastructure and demand for raw materials would increase accordingly. The rise in economic activities would give a boost to lending however, the lending flow is still satisfactory,” Dhakal said. </span></span></p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13057', 'image' => '20210423101552_20200601032952_bank lending.jpg', 'article_date' => '2021-04-23 10:15:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13311', 'article_category_id' => '1', 'title' => 'PATA Nepal Chapter organizes the fourth PATA Youth Talent Quest ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">April 23: PATA Nepal Chapter organized the 4th PATA Youth Talent Quest (YTQ 2021) in collaboration with PATA Nepal Student Chapter, and support from various organizations and sponsors. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">The PATA Nepal Chapter introduced five key competitions under PATA YTQ 2021that include Public Speaking Competition, Tourism and Hospitality Quiz, PATA Futsal Tournament, Content Writing Competition and YTP Chefs Competition. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">The YTQ 2021 kicked off with Public Speaking Competition on 16th April 2021 at GATE College, Mandikhatar. According to PATA Nepal, Samikchha Bhattarai from GATE College was announced the winner of the Public Speaking Competition. Similarly, Sijal Kunwar from NATHM College and Sudha Shakya from GCI were declared as 1st and 2nd runners up respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">Similarly, the "Tourism and Hospitality Quiz" was held on 17th April 2021 at Mid-Valley Int'l College. Nepal Academy of Tourism and Hospitality (NATHM), Kathmandu Academy of Tourism and Hospitality (KATH), and Mid-Valley International College (MVIC) secured the top three positions in the competition respectively. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">Likewise, the "Content Writing Competition" held on 18th April 2021 at GCI College, Mid-Baneshwor. Anushka Pradhan from NATHM was delcared the Winner, while Akriti Raut from LACM and Swostika Sapkota from NCTTM finished second and third respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman""> The Futsal Tournament was also organized under YTQ 2021 on 19th April 2021, wherein Global Academy of Tourism and Hospitality Education (Boys) and Global International College (Girls) became champions defeating LACM and NCTTM respectively in the final. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">Owing to the increasing COVID cases and complying with the recent decision by the Government of Nepal, PATA Nepal Chapter said it has decided to postpone the "YTP Chefs Competition" of PATA YTQ2021, which was supposed to be held on April 24th, 2021 under the theme "Exploring Authentic Nepali Cuisine", the A press statement released by PATA read.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times">Youth Talent Quest (YTQ) is <span style="font-family:"Times New Roman"">an annual event by PATA Nepal Chapter, engaging Young Tourism Professionals (YTPs) that provides a platform among the students from PATA Nepal Chapter member colleges to compete and showcase their multifaceted talents, knowledge, and skills, the organiser said in a statement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">The annual event aims to uncover talented young tourism professionals and further empower them with the necessary training, involvement, and exposure to PATA Nepal Chapter programs and activities, and engaging them in the best possible way to carve their successful future endeavors, the statement added. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13056', 'image' => '20210423100044_1.jpg', 'article_date' => '2021-04-23 09:59:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13310', 'article_category_id' => '1', 'title' => 'Nepal and Thailand to Promote Religious Tourism', 'sub_title' => '', 'summary' => 'April 22: Nepal and Thailand have agreed to cooperate with each other for promoting religious tourism. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">April 22: Nepal and Thailand have agreed to cooperate with each other for promoting religious tourism. Nepal Tourism Board’s Chief Executive Officer (CEO) Dr Dhananjay Regmi and Thailand’s Ambassador to Nepal Vosita Vorasaph during a meeting held on Tuesday, April 20, emphasized that the two countries will work together for the promotion of tourism in each other's countries.<br /> During the meeting, they discussed the increasing number of religious tourists coming to Nepal from Thailand and vice versa.<br /> Likewise, Regmi informed that Nepal is the birthplace of Gautam Buddha, and as Thailand is a Buddhist country, Nepal is a religious tourist destination for the Thai population.<br /> Stating that around 3,000 Thai tourists visit Lumbini, the birthplace of Gautam Buddha, annually, CEO Regmi said that the board is taking initiative to take Thai tourists to other places associated with the Buddha.<br /> "Work is being done to connect Kapilvastu and Ramgram with Lumbini in line with the concept of Buddha Circuit. It will also help tourists to know about Buddha and prolong their stay, according to Regmi. Stating that the government media in Thailand and the government media in Nepal can work together to promote Nepal in Thailand, Regmi said that the two friendly nations will take initiatives to promote religious tourism.<br /> During the meeting, the Thai Ambassador informed that the religious and cultural relations between Nepal and Thailand are good and Lumbini is a major attraction for Thai tourists. He said that the number of Thai tourists could increase after the construction of Gautam Buddha International Airport in Lumbini.<br /> He also said that he was positive to promote Nepal in Thailand.<br /> During the meeting, discussions were held on the continuation of the friendly visit programmes of the diplomats of the two countries and the exchange of good tourism practices.<br /> Given the recent state of Covid-19, the two countries have agreed to emphasize cooperation and promotion. Thailand is one of the top 10 tourist destinations for Nepalis.<br /> Meanwhile, 41,653 Thai tourists visited Nepal in 2019.</span></span></p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13055', 'image' => '20210422053514_IMG_3845(1).jpg', 'article_date' => '2021-04-22 17:34:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13309', 'article_category_id' => '1', 'title' => 'Shipping Companies Hike Fare Arbitrarily', 'sub_title' => '', 'summary' => 'April 22: Shipping companies providing transportation services to Nepali businessmen for overseas trade have hiked their fare arbitrarily.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 22: Shipping companies providing transportation services to Nepali businessmen for overseas trade have hiked their fare arbitrarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Nepali importers complain that the shipping companies have raised the fares by almost four folds.<br /> Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry of Province 2, claimed that the shipping companies have increased the fares up to four times in the last seven months. He said that the transportation cost per container from China and European countries used to be US$ 1,500 before last September, but now it has been increased to US$ 6,000.<br /> Earlier, the shipping companies had been transporting 40-feet long containers to the dry port of Birgunj for US$ 1,500. “Shipping companies have increased container fares to make the best out of the growing production and trade after the lockdown. This has increased the cost of imported goods and also the local products,” said Lath.<br /> Entrepreneurs claim that consumer prices have been affected due to the increase in the transportation cost of imported goods. Prices of food and other daily necessities have skyrocketed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Although production and trade had declined with the onset of the coronavirus pandemic, demand has risen as conditions have returned to normalcy.<br /> Trade with third countries has also improved since Nepal lifted the lockdown in last September.<br /> Importer Navneet Agrawal said that the shipping companies raised the fare to gain from the growing demand for transportation with the growth in volume of trade.<br /> “Foreign trade, which came to a halt during the lockdown, naturally increased as it became convenient after lockdown was lifted. On this occasion, the shipping companies increased the fare,” Agrawal informed New Business Age.<br /> This not only increased the price of products but also the cost of domestic production with the growth in the price of imported raw materials.<br /> Importer Om Prakash More shared that the shipping companies have been increasing the fare every week.</span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepal’s Consulate in Kolkata is not aware of the increase in container fares. However, Consul General Ishwar Raj Poudel said that the shipping companies have not made any formal/ informal announcement about the change in price.<br /> "Importers have not reported any increase in fares so far. If anyone informs us about such a problem, we are always ready to facilitate them,” said Poudel.<br /> President Lath has urged the government to take initiative to reduce the fare.<br /> "Shipping companies do not heed importer requests. The solution will only come out if the government takes effective initiative. The government could reduce fares by taking a policy of incentives for low-cost shipping companies," he added.<br /> "The trade, which had come to a standstill during the coronavirus pandemic, has grown in recent times. As trade increased, so did the demand for containers. This is an opportunity for shipping companies to make fast money,” said More.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13054', 'image' => '20210422052840_20201015050305_1602718767.Clipboard09.jpg', 'article_date' => '2021-04-22 17:27:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13308', 'article_category_id' => '1', 'title' => 'Ministries Dissatisfied Over Budget Ceiling', 'sub_title' => '', 'summary' => 'April 22: Ministries have expressed dissatisfaction over the budget ceiling set by the National Planning Commission (NPC) for the upcoming fiscal year (FY 2021/22).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 22: Ministries have expressed dissatisfaction over the budget ceiling set by the National Planning Commission (NPC) for the upcoming fiscal year (FY 2021/22).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The ministries are dissatisfied since the NPC has set the ceiling with a slight increase only compared to the last fiscal year, assessing that the government's possible measures to contain the second wave of coronavirus might adversely affect government resources.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministries including Agriculture and Livestock Development, Urban Development, Physical Infrastructure and Transport, Energy, Water Resources and Irrigation, Federal Affairs and General Administration have demanded to increase the limit saying it is extremely low. However, the NPC has not yet fixed the budget for all ministries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">During the pre-budget briefing initiated by Parliamentary Finance Committee from this week, ministries have said that they will be unable to bring new programmes under the ceiling set by the NPC. The Finance Committee of parliament had discussed the issue with the Ministry of Agriculture and Livestock Development (MoALD) during the briefing. The ministry has got a budget ceiling of Rs 36.23 billion for the upcoming fiscal year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to Yogendra Kumar Karki, Secretary of MOALD, this budget will be insufficient even for the ongoing projects. He said that the new projects can’t be introduced within this ceiling and ongoing projects also can’t be covered sufficiently. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Energy Secretary Dinesh Kumar Ghimire said bigger hydropower projects and transmission line projects including Upper Tamakoshi-5, Jagadulla, Dudhkoshi, Sunkoshi-3, Trishuli-4, Noumure have been proposed for the next fiscal year but the budget would not be sufficient for these projects. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">“Projects related to production sector and rural hydropower and transmission projects don’t seem to get the budget,” he said. In such scenario, it is not possible to bring a new programme within the current ceiling.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The Ministry of Physical Planning and Infrastructure is also not satisfied with the budget ceiling. One of the officials informed that the ministry will not propose new projects in the coming fiscal year and has started preparations to complete the ongoing projects. He further added that the Ministry is preparing to propose the budget so that ongoing projects need not deal with resources crunch. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministry of Urban Development has also said that the proposed budget is not enough even for ongoing projects. It has proposed a dozen of programmes with the budget estimate of Rs 13.32 billion. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministry of Federal Affairs and General Administration has also asked to increase the budget ceiling. NPC has set a budget ceiling of Rs 46.12 billion for the ministry. Of it, Rs 16.53 billion has been fixed for current expenditure while Rs 29.59 billion has been set for capital expenditure. Secretary Eknarayan Aryal said there are many works that need to be done under this limit.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">He said that the programme proposed by the government to connect all local units to district centers alone require a budget of Rs 1.5 billion. He said more funds are required to build local level administrative building. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Grants are provided to rural municipalities, municipalities and sub-metropolitan cities on behalf of the Federal Ministry to build local administrative buildings. The budget ceiling is insufficient as village council needs 60 percent, municipality needs 50 percent, and sub-metropolis needs 40 percent of the grant.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Though the ministries are dissatisfied over the budget ceiling for the upcoming fiscal year, they have been incapable of spending the current budget. The budgets of the ministries have been returned back as they have not been able to spend the budget on the allocated projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13053', 'image' => '20210422125513_1618956635.1.jpg', 'article_date' => '2021-04-22 12:54:38', '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 local entrepreneurs and vendors complained that their business was halted since 2020, after the emergence of COVID-19 in the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Prabin Giri, owner of Felt Mart Industry in Thamel, said, “The business is nil. I opened a shop to spend my free time since I have no other works to do. Showroom of Felt Mart Industry at Thamel used to do transaction of Rs 12,000 to Rs 15,000 a day before COVID-19 hit the business. Along with decline in retail transaction, the export volume has also gone down. Its current export accounts for 30 percent of the previous export volume. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Germany, Denmark and the UK are its major export markets. The two factories of Felt Mart Industry located at Sitapaila and Gwarko have also cut down production following the drop in the demand from the foreign countries. Previously, those factories used to provide employment to 60-70 people, which has now been reduced to 20. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Thamel area, which would otherwise be filled with foreign tourists, now wears a deserted look. Most of the shutters are pulled down and a very few tourists can be seen on the roads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">It has been more than a year since the country suffered from more than four months of protracted lockdown. Although the other sectors are gradually bouncing back with fear of second of wave of coronavirus, Thamel area is still reeling through the extreme impacts of COVID-19. Until and unless the number of tourists goes up, the business of Thamel shops is not expected not pick up pace. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">A report of Nepal Rastra Bank states that 32,997 tourists came to Nepal in the last three months of 2021. This gradual surge in the number of tourists had made the shop owners in Thamel enthusiastic but it was short-lived.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"> “The streets of Thamel had also witnessed some tourism-related activities with the rise in number of tourists, but it could not last long,” said Giri. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the year 2020, Nepal welcomed 230,085 tourists, according to the data provided by the Department of Immigration.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Madhu Dhungana, owner of Chomolungma Outdoor Gear Pvt Ltd, said if this pandemic exists for some more months, we might have to exit from the market. He further opined that lockdown is not the solution to this crisis. He suggests all people should take necessary measures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">If it were the normal times, Dhungana would have been busy selling outdoor gears for trekking. This is the peak time for the trekking and mountaineering expedition in the country. He is sustaining his business so far selling trekking items on sale to the local customers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the Department of Tourism, 82 expedition teams have been issued permits for the spring season of 2021. Meanwhile no permits were issued in the year 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nepal Book Depot, a book shop which is located besides Kathmandu Guest House, the oldest hotel of Thamel, also shares a similar story. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We used to do daily transactions of Rs 20,000 Rs 30,000 daily at the peak time which is nil now,” says Ganesh Karki, adding, “Foreign tourists are our major customers, and domestic customers rarely come here to purchase books.” </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13067', 'image' => '20210428011247_20201214121412_20200828035107_20171127050546_thamel.jpg', 'article_date' => '2021-04-28 13:12:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13321', 'article_category_id' => '1', 'title' => ' Mt Everest Ascent Sees Enthusiastic Participation', 'sub_title' => '', 'summary' => 'April 28: Despite the recent surge in Covid-19 cases, as many as 294 summiteers of 42 groups have been granted permission for climbing the world's highest peak, Mount Everest, this year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 28: Despite the recent surge in Covid-19 cases, as many as 294 summiteers of 42 groups have been granted permission for climbing the world's highest peak, Mount Everest, this year. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to the state-owned national news agency, RSS, this is so far the highest number of groups receiving permit for climbing the highest peak. RSS made such claim citing the Department of Tourism under the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS"">This is slightly higher than the number of climbers getting permission for climbing in the year 2019, RSS further reported. Only 41 groups of mountaineers had obtained permission to climb Mount Everest in 2019. </span><br /> <span style="font-family:"Arial Unicode MS"">The number is still likely to go up this time as there is possibility for more climbers to turn up to seek permission. According to the department, 82 mountaineering groups, including 42 groups for Mount Everest have received permits. </span><br /> <span style="font-family:"Arial Unicode MS"">The second highest number of mountaineers obtaining permission is 13 for the ascent of the Lhotse, RSS further said. Five groups have obtained permission for climbing the Mt Dhaulagiri while eight have got permission to scale Mt Annapurna. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, climbing of Mount Everest would start this week if the weather remains favourable. It may be noted that the ascent of the highest peak had been postponed for the summer season of 2020 due to COVID-19 pandemic. The mountaineering sector was reopened on May 13, 2020.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Revenue collection from royalty for climbing mountains in the summer season has reached Rs 530 million so far, according to the Mountaineering Section under the Department of Tourism. The year 2021 has remained enthusiastic in terms of royalty collection which amounted. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13066', 'image' => '20210428112643_20210219104343_20201108030120_Contribution of Mountains to the Tourism Economy_1.jpg', 'article_date' => '2021-04-28 11:26:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13320', 'article_category_id' => '1', 'title' => 'Government Bans Foreigners from Using TIA as Transit Airport', 'sub_title' => '', 'summary' => 'April 28: Authorities in Nepal have banned travellers from using Tribhuvan International Airport (TIA) as transit point. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 28: Authorities in Nepal have banned travellers from using Tribhuvan International Airport (TIA) as transit point. The Department of Immigration imposed the ban effective from April 28.</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 Tuesday (April 27), the department said that the government has restricted the arrival of foreigners intending to travel to third countries via Tribhuvan International Airport as a transit airport from April 28 considering the risk of Covid-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">However, the ongoing services provided to travelers arriving in Nepal as the final destination and departure from Nepal would continue unhindered, reads the statement.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Of late, Indian tourist had been visiting Nepal before travelling to third countries following a ban on air transportation in the neighbouring country in the wake of recent surge in Covid-19 cases. The Indian Embassy in Kathmandu has issued travel advisory to its citizens after the Department of Immigration issued the statement.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13065', 'image' => '20210428111434_20200922040433_20200310105652_aaa.jpg', 'article_date' => '2021-04-28 11:13:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13319', 'article_category_id' => '1', 'title' => 'Deposit Collection of Commercial Banks Declines', 'sub_title' => '', 'summary' => 'April 27: With the start of the Nepali New Year, deposit collection of banking institutions has been affected due to low interest rate. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 27: With the start of the Nepali New Year, deposit collection of banking institutions has been affected due to low interest rate. In the first two weeks of Baishakh (mid-April to April end), deposit collection of 27 commercial banks has continuously declined. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Bankers say that customers may have shifted towards development banks, finance companies and cooperatives because they offer attractive interest rate than commercial banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to the data published by Nepal Banker's Association on Monday, April 26, deposit collection has declined by Rs 392 billion in the first week of Baishakh and further declined by Rs 5 billion in the second week.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The credit flow which was continuously increasing until late last year declined by Rs 8 billion and was limited to Rs 356 billion. However, there was an increment in the second week. The credit flow increased by Rs 17 billion to Rs 358 billion. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ganeshraj Pokhrel, CEO of Citizens Bank International, said the relocation of customers to other group of banks has brought a decline in the deposit collection. “Customers have not withdrawn from banks to buy food items fearing food shortage. The facility of digital banking allows them to do so at anytime. Many development banks, cooperative are offering attractive interest rate which has lured customers towards them,” he adds.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Most of the banks raised the CCD ratio to 85 percent as prescribed by the Nepal Rastra Bank and they have also increased the interest rate on deposit to 8.5 percent. However, CCD ratio of most of the commercial banks is still low and they haven’t increased the interest rate either. That's why it is assumed deposits have been shifted to developments banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to NRB, CCD ratio of overall commercial banks is at 78.77 percent. "Average CCD ratio is 77%. If the government spends development budget in the fourth quarter, money is expected to come into banking system but it is feared to be affected by COVID-19 as the businesses affected by the second wave might seek for waivers," said Pokhrel. That's why profit of the banking institutions might not be as good as expected in the fourth quarter.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13064', 'image' => '20210427021438_20201216032922_20200419015315_bank-malware.jpg', 'article_date' => '2021-04-27 14:14:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13318', 'article_category_id' => '1', 'title' => 'Surge in Covid-19 Cases Affects International Flights', 'sub_title' => '', 'summary' => 'International flights to and from Nepal’s Tribhuvan International Airport (TIA) have been affected due to the recent surge in coronavirus cases in the country and neighbouring India.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">International flights to and from Nepal’s Tribhuvan International Airport (TIA) have been affected due to the recent surge in coronavirus cases in the country and neighbouring India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a source at the Civil Aviation Authority of Nepal (CAAN), the state-owned Nepal Airlines Corporation and Air India are considering to suspend flights between the two countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The official said on condition of anonymity that other international airline companies operating in Nepal were also opting to either reduce the number of flights or to stop operation due to the surge in coronavirus infection in the region. Only 20 international flights carrying a total of 2,300 passengers were operated on April 25 from the Tribhuvan International Airport.<br /> On Sunday, 50 Nepalis visited India through this airport, while 63 passengers from India arrived in Nepal. According to the office, altogether 2,000 people from abroad arrived in Nepal on Sunday. There were 22 flights on Saturday.<br /> Currently, Nepal Airlines, Himalayan Airlines, Air India, Al Jazeera Airways, Air Arabia, Qatar Airlines, Air China, Turkish Airlines, Silk, Fly Dubai operate international flights to and from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Thai Airlines has suspended flights since last year's lockdown. The alarming situation of Covid-19 in India has made airline companies more cautious, and Nepal-India flights have been reduced significantly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Flights between Nepal and India the are operated only by Nepal Airlines and Air India under the air-transport bubble agreement. Until a few weeks ago, Indians used to arrive in Nepal to stay in hotel quarantine.<br /> Due to this, the occupancy of hotels grew slightly as the Indians arrived here for quarantine before flying to the Gulf countries. A week ago, 500 Indians came to Nepal daily, but since April 25, the number has dropped dramatically.<br /> Although the government had banned such visitors from coming to Nepal on April 25, it revoked the decision a day later.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">On Monday, the Ministry of Health and Population issued a notice urging all the visitors who arrived in Nepal to undergo a PCR test.<br /> Thai Airlines suspended its flights to Nepal due to internal reasons. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Even though no company has officially announced that it will stop flying to Nepal so far, there is a possibility that Indian Airlines will halt its operation to Nepal, according to a government source.<br /> Stating that there are two reasons for this, the source said, "Some time ago, Indians used to come to Nepal and go to other countries. Now, it is clear that Nepal-India flights are declining as Indians are more affected by the pandemic."<br /> As the coronavirus infection is on the rise in Nepal, other international airlines are likely to reconsider flights to Nepal, the official added.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13063', 'image' => '20210427013836_20210402114024_EHdVeZuVAAArjYS.jpg', 'article_date' => '2021-04-27 13:37:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13317', 'article_category_id' => '1', 'title' => 'Government to Impose Week-long Prohibitory Order in Kathmandu Valley', 'sub_title' => 'All but essential services to be shut until May 5', 'summary' => 'April 27: The government has decided to enforce a week-long prohibitory order in Kathmandu valley effective from Thursday midnight.', 'content' => '<p><span style="font-size:12px"><span style="font-family:Arial,Helvetica,sans-serif"><em>An aerial view of the Kathmandu Valley in this file photo.</em></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">April 27: The government has decided to enforce a week-long prohibitory order in Kathmandu valley effective from Thursday midnight.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">Once the prohibitory order comes into effect, all but essential services will come to a halt. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The move is an attempt to curb the spread of coronavirus infection that has spiraled in the past few weeks. <br /> A joint meeting of the Chief District Officers of Kathmandu, Bhaktapur and Lalitpur on Monday (April 26) decided to shut down all services except essential ones. The meeting also decided to strictly monitor the flow of people into the valley.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">All gatherings including seminars, and conferences have been banned, while entertainment centres, cinema halls, gym, sports clubs, libraries, museums and zoo will also remain closed. <br /> In case of marriages, the authorities have decided to allow a maximum of 15 people attend the function. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">As per the decision, only vehicles carrying essential goods as well as ambulances carrying sick people, and those used by health workers and security persons will be allowed to ply on the streets. Government vehicles will require permits issued by the concerned ministry. <br /> The meeting has decided to allow grocery shops remain open until 10 in the morning and 5 to 7 in the evening. However, they need to follow the prescribed health protocols. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The prohibitory order will remain in force until May 5. During this period, anyone entering the Kathmandu valley will have to stay in quarantine and home isolation as prescribed by the concerned local level. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13062', 'image' => '20210427102436_20200903113103_1599056781.jpg', 'article_date' => '2021-04-27 10:22:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13316', 'article_category_id' => '1', 'title' => ' Finance Minister Pledges to Address Genuine Concerns of Entrepreneurs ', 'sub_title' => '', 'summary' => 'April 25: Finance Minister Bishnu Prasad Poudel has said that maximum efforts would be made to accommodate the genuine concerns and recommendations of the youth entrepreneurs in the upcoming fiscal year's annual budget. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 25: Finance Minister Bishnu Prasad Poudel has said that maximum efforts would be made to accommodate the genuine concerns and recommendations of the youth entrepreneurs in the upcoming fiscal year's annual budget. </span><br /> <span style="font-family:"Arial Unicode MS"">Receiving feedback from youth entrepreneurs on the new budget on Saturday, the finance minister assured to meet the demands of the entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS"">He, however, said that he cannot make public what are the genuine issues and are possible to be incorporated in the budget since he was in the process of budget making. The minister added that the incumbent government was in favour of the youth entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Poudel underscored the need to prepare the budget in a new manner based on the lessons learnt from COVID-19 and its impacts. </span><br /> <span style="font-family:"Arial Unicode MS"">He was of the view that some policy-level reforms were needed for the recovery of the country's economy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-04-25', 'modified' => '2021-04-25', 'keywords' => '', 'description' => '', 'sortorder' => '13061', 'image' => '20210425100924_20210110034934_1610265858.jpg', 'article_date' => '2021-04-25 10:08:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13315', 'article_category_id' => '1', 'title' => 'Import of Gold up in the Market', 'sub_title' => '', 'summary' => 'April 25: Nepal imported more gold in between mid-March and mid-April of the current fiscal year than the average import in other months.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 25: Nepal imported more gold in between mid-March and mid-April of the current fiscal year than the average import in other months. In other months of the current year, gold worth Rs 2.14 billion in average was being bought into the country from abroad. However, in April, gold worth Rs 3.27 billion was imported.<br /> According to the data released by the customs department, 460 kg of gold has entered Nepal in the review month. On an average, 300 kg of gold has been imported each month this year.<br /> <br /> However, according to the customs department, the import of gold has surged between mid-March and mid-April. It is due to the wedding season. In Nepal, the number of weddings is higher in the months of April and May.<br /> Marriages in Nepal are believed to be incomplete without gold. Due to this belief, gold consumption is high in Nepal during the wedding season. Therefore, gold imports have been increasing in April.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">President of the Federation of Nepal Gold and Silver Dealers Association Manika Ratna Shakya said that the import of gold has increased due to the wedding season. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"Gold consumption is higher in April due to the wedding season. Given the same situation, we have increased the import of gold than in the previous month," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">He said that more than 500 kg of gold has been imported in the first week of April alone. Shakya estimates that the gold business is likely to go up if the surge in coronavirus remains under control.<br /> The import volume of gold has been increased from 10 kg per day to 20 kg compared to last April. <br /> Commercial banks enjoy the right to import gold in Nepal. Banks have been importing gold in collaboration with the Federation of Nepal Gold and Silver Dealers Association.<br /> In the current fiscal year, gold worth Rs 19.31 billion has been shipped in, which is 43.46 percent more than the corresponding period of last year.<br /> According to the customs department, gold entrepreneurs have imported 2,760 kg of gold in the current fiscal year.<br /> Gold business in Nepal had come to a standstill during the start of the current fiscal year as the economy was hit by the coronavirus pandemic and the price of gold had also skyrocketed. However, import of gold is on the rise recently due to the open market demand.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-25', 'modified' => '2021-04-25', 'keywords' => '', 'description' => '', 'sortorder' => '13060', 'image' => '20210425100433_20201203030905_1606953115.Clipboard16.jpg', 'article_date' => '2021-04-25 10:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13314', 'article_category_id' => '1', 'title' => 'UN Association of Nepal Launches Book Consisting Articles of 25 Eminent Personalities', 'sub_title' => '', 'summary' => 'April 24: The UN Association of Nepal organized a book launch programme at Hotel Yellow Pagoda, Kathmandu, on April 22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 24: The UN Association of Nepal organized a book launch programme at Hotel Yellow Pagoda, Kathmandu, on April 22. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The book entitled ‘Nepal’s Foreign Policy and United Nations’ consisting of 25 articles by eminent personalities like foreign secretary, former foreign secretaries, former ambassadors, academics and intellectuals was launched by Nepal’s Foreign Minister Pradeep Kumar Gyawali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The programme was chaired by Associate Professor Dambar Bir Thapa, president of the association.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a statement issued by the association, its Co-President Radhesh Pant delivered the welcome speech, while Professor Dr Mohan P Lohani, a former ambassador, thanked the contributors for their cooperation in making the publication possible on time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Dr Nishchal Nath Pandey, director of Center for South Asian Studies, reviewed the book and congratulated the association for bringing out the book to coincide with the 75th anniversary of the UN and the 65th anniversary of Nepal’s UN membership.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Nepal’s Foreign Secretary Bharat Raj Paudyal highlighted the salient features of Nepal’s foreign policy and lauded the UN for its role in dealing with issues pertaining to sustainable development, climate change and financing for development, among others. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to the association, Chief Guest Foreign Minister Gyawali distributed certificates of appreciation to the contributors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-24', 'modified' => '2021-04-24', 'keywords' => '', 'description' => '', 'sortorder' => '13059', 'image' => '20210424075928_les-nacio.jpg', 'article_date' => '2021-04-24 19:58:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13313', 'article_category_id' => '1', 'title' => 'FDI Lower than Expected', 'sub_title' => 'In two and a half decades, Nepal has only received Rs 110 billion.', 'summary' => 'April 23: Although Nepal expects to attract a large amount of foreign direct investment (FDI), the actual investment has been marginal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 23: Although Nepal expects to attract a large amount of foreign direct investment (FDI), the actual investment has been marginal. However, the country has been holding investment conferences to attract huge FDIs but has only received Rs 110 billion so far, which is 34.1 percent of the total commitment amount. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Although foreign investors have expressed their intention and commitment to bring billions of rupees to Nepal in investment conferences held at different times, it seems that the country has received very little investment. A report on 'Foreign Direct Investment in Nepal' released by Nepal Rastra Bank on April 21 shows that the investment received by Nepal is not in accordance to the investment approved by the foreign investors.<br /> From FY 2052/53 to FY 2076/77, Nepal has approved FDIs of Rs 325.52 billion. However, the actual investment received by the country is much less than the commitment made by the investors. The Department of Industry and the Investment Board of Nepal (IBN) register the projects comprising foreign investment. The amount received by the registered projects is also less. In some years, it has been observed that the outflow of money from the country seems to be more than the</span></span><span style="font-size:14.0pt"> inflow of investment.<br /> The government held an investment summit in March 2017 BS and 2019 to attract foreign investment.<br /> Likewise, the Confederation of Nepalese Industries (CNI), a private sector organization, held the 'Nepal Infrastructure Conference' in August 2018.<br /> Nepal is eager to attract foreign investment, but there are procedural and policy hurdles. Issues like investment security have discouraged investors to invest. Even if the foreign investment projects are registered and approved, not all investments come in the same year.<br /> For the first time, the government has made a provision to bring 100 percent amount of the approved investment within 1 to 2 years</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">By amending the Foreign Investment and Technology Transfer (FITTA) Rules-2077 BS.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Former Chief Executive Officer (CEO) of the Board of Investment Radhesh Pant said that regulation was made as the investors would not invest in the absence of a conducive environment.<br /> According to a survey conducted by the Central Bank in 2060/61, Nepal approved an FDI of Rs 2.76 billion but received zero investment.<br /> "South Asian countries like the Maldives and Bhutan have received more FDI than Nepal," added Panta.<br /> He said that even though the Investment Board was established to attract investment, but nothing has improved. He argues that the tendency of government not to consider the private sector as a partner is less likely to attract investment even by partnering with foreign investors.<br /> How will investors come when there are multiple hurdles, argues Pant. The government needs to facilitate investors' by making the compliance hassle-free from project registration to the field, he questioned.<br /> He suggests that the investment will only increase if the project bank shows that Nepal is safe for investment.<br /> According to the central bank, in some years, investors have taken away around 23 percent of the approved FDI, out of Nepal. In 2058/59, 23.3 percent of the investment approved by Nepal was taken back by foreign investors. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">According to the NRB report, 51.1 percent or half of the amount approved in Nepal in 2076/77 has already come in. This year, Rs. 38.15 billion has been approved, while Nepal has already received Rs. 19.47 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13058', 'image' => '20210423103303_2-702x336.jpg', 'article_date' => '2021-04-23 10:32:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13312', 'article_category_id' => '1', 'title' => 'Commercial Banks’ Lending Increases by 25%', 'sub_title' => '', 'summary' => 'April 23: The lending of commercial banks has increased by 25.63 percent in the last eight months of the current fiscal year compared to the corresponding period of the last fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 23: The lending of commercial banks has increased by 25.63 percent in the last eight months of the current fiscal year compared to the corresponding period of the last fiscal year. Though the COVID-19 has extremely affected the country’s economy as a whole, the business of banking institutions remains an exception. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">In the review period, 27 commercial banks have disbursed additional loans of Rs729 billion. With the increase in the lending, a total of Rs 3,573 billion loans have been disbursed until the month of April by the commercial banks. In the review period of the last fiscal year, banks had given loan of Rs 2,844 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Commercial banks were operating partially for three months since the lockdown was imposed on March 24 last year. Yet, the business of commercial banks has been satisfactory. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, rise of COVID-19 cases and approaching second wave of the virus has presented challenges to the expansion of the business, says Bhuwan Kumar Dahal, president of Nepal Bankers’ Association. He expressed concern that most of the businesses might get affected again. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Mahesh Sharma Dhakal, Deputy CEO of Global IME Bank, said apart from the tourism industry, loans have been disbursed in other sectors and therefore the situation is not so discouraging so far. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lending of the banking institutions has gradually improved. NIC Asia has the highest total lending among the banks. NIC Asia Bank had announced various schemes from the beginning of the current fiscal year to attract borrowers. The bank has increased loans to the borrowers by 48.48 percent in the current fiscal year. With the increase in lending, the total lending of the bank has reached Rs 259 billion. Until the corresponding period of the last fiscal year, it had extended loan of Rs 175 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Mega Bank is second in the list of banks to have increased the lending in the review period of the current fiscal year. Mega Bank has increased its lending by 69.86 percent in the review period and disbursed credit amount of Rs 138 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kumari Bank has succeeded to disburse loan of Rs 43.2 billion and its total lending amount has reached to Rs 134 billion. Similarly, Nabil Bank has extended its lending by 27.88 percent and disbursed total loan of Rs 193 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">During the COVID-19 pandemic, Prabhu Bank, Citizens International Bank, Global IME Bank have extended an additional loan of Rs 40.86 billion, Rs 37.93 billion and Rs 34.39 billion respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Global IME Bank has increased its total loan facility by 17.10 percent to Rs 235 billion. During the COVID-19 pandemic it had provided Rs 201 billion loan in the corresponding period of the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Dhakal, Deputy CEO of the Global IME Bank, said the bank has not been able to increase the loan as expected in one year but it is satisfactory. He said that the bank still has sufficient capital for investment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">“If there were enough economic activities, it would require investment in infrastructure and demand for raw materials would increase accordingly. The rise in economic activities would give a boost to lending however, the lending flow is still satisfactory,” Dhakal said. </span></span></p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13057', 'image' => '20210423101552_20200601032952_bank lending.jpg', 'article_date' => '2021-04-23 10:15:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13311', 'article_category_id' => '1', 'title' => 'PATA Nepal Chapter organizes the fourth PATA Youth Talent Quest ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">April 23: PATA Nepal Chapter organized the 4th PATA Youth Talent Quest (YTQ 2021) in collaboration with PATA Nepal Student Chapter, and support from various organizations and sponsors. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">The PATA Nepal Chapter introduced five key competitions under PATA YTQ 2021that include Public Speaking Competition, Tourism and Hospitality Quiz, PATA Futsal Tournament, Content Writing Competition and YTP Chefs Competition. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">The YTQ 2021 kicked off with Public Speaking Competition on 16th April 2021 at GATE College, Mandikhatar. According to PATA Nepal, Samikchha Bhattarai from GATE College was announced the winner of the Public Speaking Competition. Similarly, Sijal Kunwar from NATHM College and Sudha Shakya from GCI were declared as 1st and 2nd runners up respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">Similarly, the "Tourism and Hospitality Quiz" was held on 17th April 2021 at Mid-Valley Int'l College. Nepal Academy of Tourism and Hospitality (NATHM), Kathmandu Academy of Tourism and Hospitality (KATH), and Mid-Valley International College (MVIC) secured the top three positions in the competition respectively. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">Likewise, the "Content Writing Competition" held on 18th April 2021 at GCI College, Mid-Baneshwor. Anushka Pradhan from NATHM was delcared the Winner, while Akriti Raut from LACM and Swostika Sapkota from NCTTM finished second and third respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman""> The Futsal Tournament was also organized under YTQ 2021 on 19th April 2021, wherein Global Academy of Tourism and Hospitality Education (Boys) and Global International College (Girls) became champions defeating LACM and NCTTM respectively in the final. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">Owing to the increasing COVID cases and complying with the recent decision by the Government of Nepal, PATA Nepal Chapter said it has decided to postpone the "YTP Chefs Competition" of PATA YTQ2021, which was supposed to be held on April 24th, 2021 under the theme "Exploring Authentic Nepali Cuisine", the A press statement released by PATA read.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times">Youth Talent Quest (YTQ) is <span style="font-family:"Times New Roman"">an annual event by PATA Nepal Chapter, engaging Young Tourism Professionals (YTPs) that provides a platform among the students from PATA Nepal Chapter member colleges to compete and showcase their multifaceted talents, knowledge, and skills, the organiser said in a statement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">The annual event aims to uncover talented young tourism professionals and further empower them with the necessary training, involvement, and exposure to PATA Nepal Chapter programs and activities, and engaging them in the best possible way to carve their successful future endeavors, the statement added. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13056', 'image' => '20210423100044_1.jpg', 'article_date' => '2021-04-23 09:59:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13310', 'article_category_id' => '1', 'title' => 'Nepal and Thailand to Promote Religious Tourism', 'sub_title' => '', 'summary' => 'April 22: Nepal and Thailand have agreed to cooperate with each other for promoting religious tourism. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">April 22: Nepal and Thailand have agreed to cooperate with each other for promoting religious tourism. Nepal Tourism Board’s Chief Executive Officer (CEO) Dr Dhananjay Regmi and Thailand’s Ambassador to Nepal Vosita Vorasaph during a meeting held on Tuesday, April 20, emphasized that the two countries will work together for the promotion of tourism in each other's countries.<br /> During the meeting, they discussed the increasing number of religious tourists coming to Nepal from Thailand and vice versa.<br /> Likewise, Regmi informed that Nepal is the birthplace of Gautam Buddha, and as Thailand is a Buddhist country, Nepal is a religious tourist destination for the Thai population.<br /> Stating that around 3,000 Thai tourists visit Lumbini, the birthplace of Gautam Buddha, annually, CEO Regmi said that the board is taking initiative to take Thai tourists to other places associated with the Buddha.<br /> "Work is being done to connect Kapilvastu and Ramgram with Lumbini in line with the concept of Buddha Circuit. It will also help tourists to know about Buddha and prolong their stay, according to Regmi. Stating that the government media in Thailand and the government media in Nepal can work together to promote Nepal in Thailand, Regmi said that the two friendly nations will take initiatives to promote religious tourism.<br /> During the meeting, the Thai Ambassador informed that the religious and cultural relations between Nepal and Thailand are good and Lumbini is a major attraction for Thai tourists. He said that the number of Thai tourists could increase after the construction of Gautam Buddha International Airport in Lumbini.<br /> He also said that he was positive to promote Nepal in Thailand.<br /> During the meeting, discussions were held on the continuation of the friendly visit programmes of the diplomats of the two countries and the exchange of good tourism practices.<br /> Given the recent state of Covid-19, the two countries have agreed to emphasize cooperation and promotion. Thailand is one of the top 10 tourist destinations for Nepalis.<br /> Meanwhile, 41,653 Thai tourists visited Nepal in 2019.</span></span></p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13055', 'image' => '20210422053514_IMG_3845(1).jpg', 'article_date' => '2021-04-22 17:34:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13309', 'article_category_id' => '1', 'title' => 'Shipping Companies Hike Fare Arbitrarily', 'sub_title' => '', 'summary' => 'April 22: Shipping companies providing transportation services to Nepali businessmen for overseas trade have hiked their fare arbitrarily.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 22: Shipping companies providing transportation services to Nepali businessmen for overseas trade have hiked their fare arbitrarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Nepali importers complain that the shipping companies have raised the fares by almost four folds.<br /> Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry of Province 2, claimed that the shipping companies have increased the fares up to four times in the last seven months. He said that the transportation cost per container from China and European countries used to be US$ 1,500 before last September, but now it has been increased to US$ 6,000.<br /> Earlier, the shipping companies had been transporting 40-feet long containers to the dry port of Birgunj for US$ 1,500. “Shipping companies have increased container fares to make the best out of the growing production and trade after the lockdown. This has increased the cost of imported goods and also the local products,” said Lath.<br /> Entrepreneurs claim that consumer prices have been affected due to the increase in the transportation cost of imported goods. Prices of food and other daily necessities have skyrocketed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Although production and trade had declined with the onset of the coronavirus pandemic, demand has risen as conditions have returned to normalcy.<br /> Trade with third countries has also improved since Nepal lifted the lockdown in last September.<br /> Importer Navneet Agrawal said that the shipping companies raised the fare to gain from the growing demand for transportation with the growth in volume of trade.<br /> “Foreign trade, which came to a halt during the lockdown, naturally increased as it became convenient after lockdown was lifted. On this occasion, the shipping companies increased the fare,” Agrawal informed New Business Age.<br /> This not only increased the price of products but also the cost of domestic production with the growth in the price of imported raw materials.<br /> Importer Om Prakash More shared that the shipping companies have been increasing the fare every week.</span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepal’s Consulate in Kolkata is not aware of the increase in container fares. However, Consul General Ishwar Raj Poudel said that the shipping companies have not made any formal/ informal announcement about the change in price.<br /> "Importers have not reported any increase in fares so far. If anyone informs us about such a problem, we are always ready to facilitate them,” said Poudel.<br /> President Lath has urged the government to take initiative to reduce the fare.<br /> "Shipping companies do not heed importer requests. The solution will only come out if the government takes effective initiative. The government could reduce fares by taking a policy of incentives for low-cost shipping companies," he added.<br /> "The trade, which had come to a standstill during the coronavirus pandemic, has grown in recent times. As trade increased, so did the demand for containers. This is an opportunity for shipping companies to make fast money,” said More.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13054', 'image' => '20210422052840_20201015050305_1602718767.Clipboard09.jpg', 'article_date' => '2021-04-22 17:27:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13308', 'article_category_id' => '1', 'title' => 'Ministries Dissatisfied Over Budget Ceiling', 'sub_title' => '', 'summary' => 'April 22: Ministries have expressed dissatisfaction over the budget ceiling set by the National Planning Commission (NPC) for the upcoming fiscal year (FY 2021/22).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 22: Ministries have expressed dissatisfaction over the budget ceiling set by the National Planning Commission (NPC) for the upcoming fiscal year (FY 2021/22).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The ministries are dissatisfied since the NPC has set the ceiling with a slight increase only compared to the last fiscal year, assessing that the government's possible measures to contain the second wave of coronavirus might adversely affect government resources.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministries including Agriculture and Livestock Development, Urban Development, Physical Infrastructure and Transport, Energy, Water Resources and Irrigation, Federal Affairs and General Administration have demanded to increase the limit saying it is extremely low. However, the NPC has not yet fixed the budget for all ministries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">During the pre-budget briefing initiated by Parliamentary Finance Committee from this week, ministries have said that they will be unable to bring new programmes under the ceiling set by the NPC. The Finance Committee of parliament had discussed the issue with the Ministry of Agriculture and Livestock Development (MoALD) during the briefing. The ministry has got a budget ceiling of Rs 36.23 billion for the upcoming fiscal year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to Yogendra Kumar Karki, Secretary of MOALD, this budget will be insufficient even for the ongoing projects. He said that the new projects can’t be introduced within this ceiling and ongoing projects also can’t be covered sufficiently. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Energy Secretary Dinesh Kumar Ghimire said bigger hydropower projects and transmission line projects including Upper Tamakoshi-5, Jagadulla, Dudhkoshi, Sunkoshi-3, Trishuli-4, Noumure have been proposed for the next fiscal year but the budget would not be sufficient for these projects. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">“Projects related to production sector and rural hydropower and transmission projects don’t seem to get the budget,” he said. In such scenario, it is not possible to bring a new programme within the current ceiling.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The Ministry of Physical Planning and Infrastructure is also not satisfied with the budget ceiling. One of the officials informed that the ministry will not propose new projects in the coming fiscal year and has started preparations to complete the ongoing projects. He further added that the Ministry is preparing to propose the budget so that ongoing projects need not deal with resources crunch. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministry of Urban Development has also said that the proposed budget is not enough even for ongoing projects. It has proposed a dozen of programmes with the budget estimate of Rs 13.32 billion. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministry of Federal Affairs and General Administration has also asked to increase the budget ceiling. NPC has set a budget ceiling of Rs 46.12 billion for the ministry. Of it, Rs 16.53 billion has been fixed for current expenditure while Rs 29.59 billion has been set for capital expenditure. Secretary Eknarayan Aryal said there are many works that need to be done under this limit.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">He said that the programme proposed by the government to connect all local units to district centers alone require a budget of Rs 1.5 billion. He said more funds are required to build local level administrative building. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Grants are provided to rural municipalities, municipalities and sub-metropolitan cities on behalf of the Federal Ministry to build local administrative buildings. The budget ceiling is insufficient as village council needs 60 percent, municipality needs 50 percent, and sub-metropolis needs 40 percent of the grant.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Though the ministries are dissatisfied over the budget ceiling for the upcoming fiscal year, they have been incapable of spending the current budget. The budgets of the ministries have been returned back as they have not been able to spend the budget on the allocated projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13053', 'image' => '20210422125513_1618956635.1.jpg', 'article_date' => '2021-04-22 12:54:38', '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 local entrepreneurs and vendors complained that their business was halted since 2020, after the emergence of COVID-19 in the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Prabin Giri, owner of Felt Mart Industry in Thamel, said, “The business is nil. I opened a shop to spend my free time since I have no other works to do. Showroom of Felt Mart Industry at Thamel used to do transaction of Rs 12,000 to Rs 15,000 a day before COVID-19 hit the business. Along with decline in retail transaction, the export volume has also gone down. Its current export accounts for 30 percent of the previous export volume. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Germany, Denmark and the UK are its major export markets. The two factories of Felt Mart Industry located at Sitapaila and Gwarko have also cut down production following the drop in the demand from the foreign countries. Previously, those factories used to provide employment to 60-70 people, which has now been reduced to 20. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Thamel area, which would otherwise be filled with foreign tourists, now wears a deserted look. Most of the shutters are pulled down and a very few tourists can be seen on the roads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">It has been more than a year since the country suffered from more than four months of protracted lockdown. Although the other sectors are gradually bouncing back with fear of second of wave of coronavirus, Thamel area is still reeling through the extreme impacts of COVID-19. Until and unless the number of tourists goes up, the business of Thamel shops is not expected not pick up pace. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">A report of Nepal Rastra Bank states that 32,997 tourists came to Nepal in the last three months of 2021. This gradual surge in the number of tourists had made the shop owners in Thamel enthusiastic but it was short-lived.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"> “The streets of Thamel had also witnessed some tourism-related activities with the rise in number of tourists, but it could not last long,” said Giri. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the year 2020, Nepal welcomed 230,085 tourists, according to the data provided by the Department of Immigration.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Madhu Dhungana, owner of Chomolungma Outdoor Gear Pvt Ltd, said if this pandemic exists for some more months, we might have to exit from the market. He further opined that lockdown is not the solution to this crisis. He suggests all people should take necessary measures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">If it were the normal times, Dhungana would have been busy selling outdoor gears for trekking. This is the peak time for the trekking and mountaineering expedition in the country. He is sustaining his business so far selling trekking items on sale to the local customers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the Department of Tourism, 82 expedition teams have been issued permits for the spring season of 2021. Meanwhile no permits were issued in the year 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nepal Book Depot, a book shop which is located besides Kathmandu Guest House, the oldest hotel of Thamel, also shares a similar story. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We used to do daily transactions of Rs 20,000 Rs 30,000 daily at the peak time which is nil now,” says Ganesh Karki, adding, “Foreign tourists are our major customers, and domestic customers rarely come here to purchase books.” </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13067', 'image' => '20210428011247_20201214121412_20200828035107_20171127050546_thamel.jpg', 'article_date' => '2021-04-28 13:12:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13321', 'article_category_id' => '1', 'title' => ' Mt Everest Ascent Sees Enthusiastic Participation', 'sub_title' => '', 'summary' => 'April 28: Despite the recent surge in Covid-19 cases, as many as 294 summiteers of 42 groups have been granted permission for climbing the world's highest peak, Mount Everest, this year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 28: Despite the recent surge in Covid-19 cases, as many as 294 summiteers of 42 groups have been granted permission for climbing the world's highest peak, Mount Everest, this year. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to the state-owned national news agency, RSS, this is so far the highest number of groups receiving permit for climbing the highest peak. RSS made such claim citing the Department of Tourism under the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS"">This is slightly higher than the number of climbers getting permission for climbing in the year 2019, RSS further reported. Only 41 groups of mountaineers had obtained permission to climb Mount Everest in 2019. </span><br /> <span style="font-family:"Arial Unicode MS"">The number is still likely to go up this time as there is possibility for more climbers to turn up to seek permission. According to the department, 82 mountaineering groups, including 42 groups for Mount Everest have received permits. </span><br /> <span style="font-family:"Arial Unicode MS"">The second highest number of mountaineers obtaining permission is 13 for the ascent of the Lhotse, RSS further said. Five groups have obtained permission for climbing the Mt Dhaulagiri while eight have got permission to scale Mt Annapurna. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, climbing of Mount Everest would start this week if the weather remains favourable. It may be noted that the ascent of the highest peak had been postponed for the summer season of 2020 due to COVID-19 pandemic. The mountaineering sector was reopened on May 13, 2020.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Revenue collection from royalty for climbing mountains in the summer season has reached Rs 530 million so far, according to the Mountaineering Section under the Department of Tourism. The year 2021 has remained enthusiastic in terms of royalty collection which amounted. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13066', 'image' => '20210428112643_20210219104343_20201108030120_Contribution of Mountains to the Tourism Economy_1.jpg', 'article_date' => '2021-04-28 11:26:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13320', 'article_category_id' => '1', 'title' => 'Government Bans Foreigners from Using TIA as Transit Airport', 'sub_title' => '', 'summary' => 'April 28: Authorities in Nepal have banned travellers from using Tribhuvan International Airport (TIA) as transit point. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 28: Authorities in Nepal have banned travellers from using Tribhuvan International Airport (TIA) as transit point. The Department of Immigration imposed the ban effective from April 28.</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 Tuesday (April 27), the department said that the government has restricted the arrival of foreigners intending to travel to third countries via Tribhuvan International Airport as a transit airport from April 28 considering the risk of Covid-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">However, the ongoing services provided to travelers arriving in Nepal as the final destination and departure from Nepal would continue unhindered, reads the statement.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Of late, Indian tourist had been visiting Nepal before travelling to third countries following a ban on air transportation in the neighbouring country in the wake of recent surge in Covid-19 cases. The Indian Embassy in Kathmandu has issued travel advisory to its citizens after the Department of Immigration issued the statement.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13065', 'image' => '20210428111434_20200922040433_20200310105652_aaa.jpg', 'article_date' => '2021-04-28 11:13:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13319', 'article_category_id' => '1', 'title' => 'Deposit Collection of Commercial Banks Declines', 'sub_title' => '', 'summary' => 'April 27: With the start of the Nepali New Year, deposit collection of banking institutions has been affected due to low interest rate. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 27: With the start of the Nepali New Year, deposit collection of banking institutions has been affected due to low interest rate. In the first two weeks of Baishakh (mid-April to April end), deposit collection of 27 commercial banks has continuously declined. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Bankers say that customers may have shifted towards development banks, finance companies and cooperatives because they offer attractive interest rate than commercial banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to the data published by Nepal Banker's Association on Monday, April 26, deposit collection has declined by Rs 392 billion in the first week of Baishakh and further declined by Rs 5 billion in the second week.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The credit flow which was continuously increasing until late last year declined by Rs 8 billion and was limited to Rs 356 billion. However, there was an increment in the second week. The credit flow increased by Rs 17 billion to Rs 358 billion. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ganeshraj Pokhrel, CEO of Citizens Bank International, said the relocation of customers to other group of banks has brought a decline in the deposit collection. “Customers have not withdrawn from banks to buy food items fearing food shortage. The facility of digital banking allows them to do so at anytime. Many development banks, cooperative are offering attractive interest rate which has lured customers towards them,” he adds.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Most of the banks raised the CCD ratio to 85 percent as prescribed by the Nepal Rastra Bank and they have also increased the interest rate on deposit to 8.5 percent. However, CCD ratio of most of the commercial banks is still low and they haven’t increased the interest rate either. That's why it is assumed deposits have been shifted to developments banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to NRB, CCD ratio of overall commercial banks is at 78.77 percent. "Average CCD ratio is 77%. If the government spends development budget in the fourth quarter, money is expected to come into banking system but it is feared to be affected by COVID-19 as the businesses affected by the second wave might seek for waivers," said Pokhrel. That's why profit of the banking institutions might not be as good as expected in the fourth quarter.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13064', 'image' => '20210427021438_20201216032922_20200419015315_bank-malware.jpg', 'article_date' => '2021-04-27 14:14:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13318', 'article_category_id' => '1', 'title' => 'Surge in Covid-19 Cases Affects International Flights', 'sub_title' => '', 'summary' => 'International flights to and from Nepal’s Tribhuvan International Airport (TIA) have been affected due to the recent surge in coronavirus cases in the country and neighbouring India.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">International flights to and from Nepal’s Tribhuvan International Airport (TIA) have been affected due to the recent surge in coronavirus cases in the country and neighbouring India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a source at the Civil Aviation Authority of Nepal (CAAN), the state-owned Nepal Airlines Corporation and Air India are considering to suspend flights between the two countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The official said on condition of anonymity that other international airline companies operating in Nepal were also opting to either reduce the number of flights or to stop operation due to the surge in coronavirus infection in the region. Only 20 international flights carrying a total of 2,300 passengers were operated on April 25 from the Tribhuvan International Airport.<br /> On Sunday, 50 Nepalis visited India through this airport, while 63 passengers from India arrived in Nepal. According to the office, altogether 2,000 people from abroad arrived in Nepal on Sunday. There were 22 flights on Saturday.<br /> Currently, Nepal Airlines, Himalayan Airlines, Air India, Al Jazeera Airways, Air Arabia, Qatar Airlines, Air China, Turkish Airlines, Silk, Fly Dubai operate international flights to and from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Thai Airlines has suspended flights since last year's lockdown. The alarming situation of Covid-19 in India has made airline companies more cautious, and Nepal-India flights have been reduced significantly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Flights between Nepal and India the are operated only by Nepal Airlines and Air India under the air-transport bubble agreement. Until a few weeks ago, Indians used to arrive in Nepal to stay in hotel quarantine.<br /> Due to this, the occupancy of hotels grew slightly as the Indians arrived here for quarantine before flying to the Gulf countries. A week ago, 500 Indians came to Nepal daily, but since April 25, the number has dropped dramatically.<br /> Although the government had banned such visitors from coming to Nepal on April 25, it revoked the decision a day later.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">On Monday, the Ministry of Health and Population issued a notice urging all the visitors who arrived in Nepal to undergo a PCR test.<br /> Thai Airlines suspended its flights to Nepal due to internal reasons. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Even though no company has officially announced that it will stop flying to Nepal so far, there is a possibility that Indian Airlines will halt its operation to Nepal, according to a government source.<br /> Stating that there are two reasons for this, the source said, "Some time ago, Indians used to come to Nepal and go to other countries. Now, it is clear that Nepal-India flights are declining as Indians are more affected by the pandemic."<br /> As the coronavirus infection is on the rise in Nepal, other international airlines are likely to reconsider flights to Nepal, the official added.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13063', 'image' => '20210427013836_20210402114024_EHdVeZuVAAArjYS.jpg', 'article_date' => '2021-04-27 13:37:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13317', 'article_category_id' => '1', 'title' => 'Government to Impose Week-long Prohibitory Order in Kathmandu Valley', 'sub_title' => 'All but essential services to be shut until May 5', 'summary' => 'April 27: The government has decided to enforce a week-long prohibitory order in Kathmandu valley effective from Thursday midnight.', 'content' => '<p><span style="font-size:12px"><span style="font-family:Arial,Helvetica,sans-serif"><em>An aerial view of the Kathmandu Valley in this file photo.</em></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">April 27: The government has decided to enforce a week-long prohibitory order in Kathmandu valley effective from Thursday midnight.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">Once the prohibitory order comes into effect, all but essential services will come to a halt. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The move is an attempt to curb the spread of coronavirus infection that has spiraled in the past few weeks. <br /> A joint meeting of the Chief District Officers of Kathmandu, Bhaktapur and Lalitpur on Monday (April 26) decided to shut down all services except essential ones. The meeting also decided to strictly monitor the flow of people into the valley.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">All gatherings including seminars, and conferences have been banned, while entertainment centres, cinema halls, gym, sports clubs, libraries, museums and zoo will also remain closed. <br /> In case of marriages, the authorities have decided to allow a maximum of 15 people attend the function. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">As per the decision, only vehicles carrying essential goods as well as ambulances carrying sick people, and those used by health workers and security persons will be allowed to ply on the streets. Government vehicles will require permits issued by the concerned ministry. <br /> The meeting has decided to allow grocery shops remain open until 10 in the morning and 5 to 7 in the evening. However, they need to follow the prescribed health protocols. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The prohibitory order will remain in force until May 5. During this period, anyone entering the Kathmandu valley will have to stay in quarantine and home isolation as prescribed by the concerned local level. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13062', 'image' => '20210427102436_20200903113103_1599056781.jpg', 'article_date' => '2021-04-27 10:22:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13316', 'article_category_id' => '1', 'title' => ' Finance Minister Pledges to Address Genuine Concerns of Entrepreneurs ', 'sub_title' => '', 'summary' => 'April 25: Finance Minister Bishnu Prasad Poudel has said that maximum efforts would be made to accommodate the genuine concerns and recommendations of the youth entrepreneurs in the upcoming fiscal year's annual budget. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 25: Finance Minister Bishnu Prasad Poudel has said that maximum efforts would be made to accommodate the genuine concerns and recommendations of the youth entrepreneurs in the upcoming fiscal year's annual budget. </span><br /> <span style="font-family:"Arial Unicode MS"">Receiving feedback from youth entrepreneurs on the new budget on Saturday, the finance minister assured to meet the demands of the entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS"">He, however, said that he cannot make public what are the genuine issues and are possible to be incorporated in the budget since he was in the process of budget making. The minister added that the incumbent government was in favour of the youth entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Poudel underscored the need to prepare the budget in a new manner based on the lessons learnt from COVID-19 and its impacts. </span><br /> <span style="font-family:"Arial Unicode MS"">He was of the view that some policy-level reforms were needed for the recovery of the country's economy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-04-25', 'modified' => '2021-04-25', 'keywords' => '', 'description' => '', 'sortorder' => '13061', 'image' => '20210425100924_20210110034934_1610265858.jpg', 'article_date' => '2021-04-25 10:08:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13315', 'article_category_id' => '1', 'title' => 'Import of Gold up in the Market', 'sub_title' => '', 'summary' => 'April 25: Nepal imported more gold in between mid-March and mid-April of the current fiscal year than the average import in other months.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 25: Nepal imported more gold in between mid-March and mid-April of the current fiscal year than the average import in other months. In other months of the current year, gold worth Rs 2.14 billion in average was being bought into the country from abroad. However, in April, gold worth Rs 3.27 billion was imported.<br /> According to the data released by the customs department, 460 kg of gold has entered Nepal in the review month. On an average, 300 kg of gold has been imported each month this year.<br /> <br /> However, according to the customs department, the import of gold has surged between mid-March and mid-April. It is due to the wedding season. In Nepal, the number of weddings is higher in the months of April and May.<br /> Marriages in Nepal are believed to be incomplete without gold. Due to this belief, gold consumption is high in Nepal during the wedding season. Therefore, gold imports have been increasing in April.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">President of the Federation of Nepal Gold and Silver Dealers Association Manika Ratna Shakya said that the import of gold has increased due to the wedding season. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"Gold consumption is higher in April due to the wedding season. Given the same situation, we have increased the import of gold than in the previous month," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">He said that more than 500 kg of gold has been imported in the first week of April alone. Shakya estimates that the gold business is likely to go up if the surge in coronavirus remains under control.<br /> The import volume of gold has been increased from 10 kg per day to 20 kg compared to last April. <br /> Commercial banks enjoy the right to import gold in Nepal. Banks have been importing gold in collaboration with the Federation of Nepal Gold and Silver Dealers Association.<br /> In the current fiscal year, gold worth Rs 19.31 billion has been shipped in, which is 43.46 percent more than the corresponding period of last year.<br /> According to the customs department, gold entrepreneurs have imported 2,760 kg of gold in the current fiscal year.<br /> Gold business in Nepal had come to a standstill during the start of the current fiscal year as the economy was hit by the coronavirus pandemic and the price of gold had also skyrocketed. However, import of gold is on the rise recently due to the open market demand.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-25', 'modified' => '2021-04-25', 'keywords' => '', 'description' => '', 'sortorder' => '13060', 'image' => '20210425100433_20201203030905_1606953115.Clipboard16.jpg', 'article_date' => '2021-04-25 10:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13314', 'article_category_id' => '1', 'title' => 'UN Association of Nepal Launches Book Consisting Articles of 25 Eminent Personalities', 'sub_title' => '', 'summary' => 'April 24: The UN Association of Nepal organized a book launch programme at Hotel Yellow Pagoda, Kathmandu, on April 22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 24: The UN Association of Nepal organized a book launch programme at Hotel Yellow Pagoda, Kathmandu, on April 22. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The book entitled ‘Nepal’s Foreign Policy and United Nations’ consisting of 25 articles by eminent personalities like foreign secretary, former foreign secretaries, former ambassadors, academics and intellectuals was launched by Nepal’s Foreign Minister Pradeep Kumar Gyawali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The programme was chaired by Associate Professor Dambar Bir Thapa, president of the association.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a statement issued by the association, its Co-President Radhesh Pant delivered the welcome speech, while Professor Dr Mohan P Lohani, a former ambassador, thanked the contributors for their cooperation in making the publication possible on time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Dr Nishchal Nath Pandey, director of Center for South Asian Studies, reviewed the book and congratulated the association for bringing out the book to coincide with the 75th anniversary of the UN and the 65th anniversary of Nepal’s UN membership.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Nepal’s Foreign Secretary Bharat Raj Paudyal highlighted the salient features of Nepal’s foreign policy and lauded the UN for its role in dealing with issues pertaining to sustainable development, climate change and financing for development, among others. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to the association, Chief Guest Foreign Minister Gyawali distributed certificates of appreciation to the contributors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-24', 'modified' => '2021-04-24', 'keywords' => '', 'description' => '', 'sortorder' => '13059', 'image' => '20210424075928_les-nacio.jpg', 'article_date' => '2021-04-24 19:58:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13313', 'article_category_id' => '1', 'title' => 'FDI Lower than Expected', 'sub_title' => 'In two and a half decades, Nepal has only received Rs 110 billion.', 'summary' => 'April 23: Although Nepal expects to attract a large amount of foreign direct investment (FDI), the actual investment has been marginal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 23: Although Nepal expects to attract a large amount of foreign direct investment (FDI), the actual investment has been marginal. However, the country has been holding investment conferences to attract huge FDIs but has only received Rs 110 billion so far, which is 34.1 percent of the total commitment amount. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Although foreign investors have expressed their intention and commitment to bring billions of rupees to Nepal in investment conferences held at different times, it seems that the country has received very little investment. A report on 'Foreign Direct Investment in Nepal' released by Nepal Rastra Bank on April 21 shows that the investment received by Nepal is not in accordance to the investment approved by the foreign investors.<br /> From FY 2052/53 to FY 2076/77, Nepal has approved FDIs of Rs 325.52 billion. However, the actual investment received by the country is much less than the commitment made by the investors. The Department of Industry and the Investment Board of Nepal (IBN) register the projects comprising foreign investment. The amount received by the registered projects is also less. In some years, it has been observed that the outflow of money from the country seems to be more than the</span></span><span style="font-size:14.0pt"> inflow of investment.<br /> The government held an investment summit in March 2017 BS and 2019 to attract foreign investment.<br /> Likewise, the Confederation of Nepalese Industries (CNI), a private sector organization, held the 'Nepal Infrastructure Conference' in August 2018.<br /> Nepal is eager to attract foreign investment, but there are procedural and policy hurdles. Issues like investment security have discouraged investors to invest. Even if the foreign investment projects are registered and approved, not all investments come in the same year.<br /> For the first time, the government has made a provision to bring 100 percent amount of the approved investment within 1 to 2 years</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">By amending the Foreign Investment and Technology Transfer (FITTA) Rules-2077 BS.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Former Chief Executive Officer (CEO) of the Board of Investment Radhesh Pant said that regulation was made as the investors would not invest in the absence of a conducive environment.<br /> According to a survey conducted by the Central Bank in 2060/61, Nepal approved an FDI of Rs 2.76 billion but received zero investment.<br /> "South Asian countries like the Maldives and Bhutan have received more FDI than Nepal," added Panta.<br /> He said that even though the Investment Board was established to attract investment, but nothing has improved. He argues that the tendency of government not to consider the private sector as a partner is less likely to attract investment even by partnering with foreign investors.<br /> How will investors come when there are multiple hurdles, argues Pant. The government needs to facilitate investors' by making the compliance hassle-free from project registration to the field, he questioned.<br /> He suggests that the investment will only increase if the project bank shows that Nepal is safe for investment.<br /> According to the central bank, in some years, investors have taken away around 23 percent of the approved FDI, out of Nepal. In 2058/59, 23.3 percent of the investment approved by Nepal was taken back by foreign investors. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">According to the NRB report, 51.1 percent or half of the amount approved in Nepal in 2076/77 has already come in. This year, Rs. 38.15 billion has been approved, while Nepal has already received Rs. 19.47 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13058', 'image' => '20210423103303_2-702x336.jpg', 'article_date' => '2021-04-23 10:32:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13312', 'article_category_id' => '1', 'title' => 'Commercial Banks’ Lending Increases by 25%', 'sub_title' => '', 'summary' => 'April 23: The lending of commercial banks has increased by 25.63 percent in the last eight months of the current fiscal year compared to the corresponding period of the last fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 23: The lending of commercial banks has increased by 25.63 percent in the last eight months of the current fiscal year compared to the corresponding period of the last fiscal year. Though the COVID-19 has extremely affected the country’s economy as a whole, the business of banking institutions remains an exception. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">In the review period, 27 commercial banks have disbursed additional loans of Rs729 billion. With the increase in the lending, a total of Rs 3,573 billion loans have been disbursed until the month of April by the commercial banks. In the review period of the last fiscal year, banks had given loan of Rs 2,844 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Commercial banks were operating partially for three months since the lockdown was imposed on March 24 last year. Yet, the business of commercial banks has been satisfactory. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, rise of COVID-19 cases and approaching second wave of the virus has presented challenges to the expansion of the business, says Bhuwan Kumar Dahal, president of Nepal Bankers’ Association. He expressed concern that most of the businesses might get affected again. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Mahesh Sharma Dhakal, Deputy CEO of Global IME Bank, said apart from the tourism industry, loans have been disbursed in other sectors and therefore the situation is not so discouraging so far. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lending of the banking institutions has gradually improved. NIC Asia has the highest total lending among the banks. NIC Asia Bank had announced various schemes from the beginning of the current fiscal year to attract borrowers. The bank has increased loans to the borrowers by 48.48 percent in the current fiscal year. With the increase in lending, the total lending of the bank has reached Rs 259 billion. Until the corresponding period of the last fiscal year, it had extended loan of Rs 175 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Mega Bank is second in the list of banks to have increased the lending in the review period of the current fiscal year. Mega Bank has increased its lending by 69.86 percent in the review period and disbursed credit amount of Rs 138 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kumari Bank has succeeded to disburse loan of Rs 43.2 billion and its total lending amount has reached to Rs 134 billion. Similarly, Nabil Bank has extended its lending by 27.88 percent and disbursed total loan of Rs 193 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">During the COVID-19 pandemic, Prabhu Bank, Citizens International Bank, Global IME Bank have extended an additional loan of Rs 40.86 billion, Rs 37.93 billion and Rs 34.39 billion respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Global IME Bank has increased its total loan facility by 17.10 percent to Rs 235 billion. During the COVID-19 pandemic it had provided Rs 201 billion loan in the corresponding period of the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Dhakal, Deputy CEO of the Global IME Bank, said the bank has not been able to increase the loan as expected in one year but it is satisfactory. He said that the bank still has sufficient capital for investment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">“If there were enough economic activities, it would require investment in infrastructure and demand for raw materials would increase accordingly. The rise in economic activities would give a boost to lending however, the lending flow is still satisfactory,” Dhakal said. </span></span></p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13057', 'image' => '20210423101552_20200601032952_bank lending.jpg', 'article_date' => '2021-04-23 10:15:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13311', 'article_category_id' => '1', 'title' => 'PATA Nepal Chapter organizes the fourth PATA Youth Talent Quest ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">April 23: PATA Nepal Chapter organized the 4th PATA Youth Talent Quest (YTQ 2021) in collaboration with PATA Nepal Student Chapter, and support from various organizations and sponsors. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">The PATA Nepal Chapter introduced five key competitions under PATA YTQ 2021that include Public Speaking Competition, Tourism and Hospitality Quiz, PATA Futsal Tournament, Content Writing Competition and YTP Chefs Competition. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">The YTQ 2021 kicked off with Public Speaking Competition on 16th April 2021 at GATE College, Mandikhatar. According to PATA Nepal, Samikchha Bhattarai from GATE College was announced the winner of the Public Speaking Competition. Similarly, Sijal Kunwar from NATHM College and Sudha Shakya from GCI were declared as 1st and 2nd runners up respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">Similarly, the "Tourism and Hospitality Quiz" was held on 17th April 2021 at Mid-Valley Int'l College. Nepal Academy of Tourism and Hospitality (NATHM), Kathmandu Academy of Tourism and Hospitality (KATH), and Mid-Valley International College (MVIC) secured the top three positions in the competition respectively. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">Likewise, the "Content Writing Competition" held on 18th April 2021 at GCI College, Mid-Baneshwor. Anushka Pradhan from NATHM was delcared the Winner, while Akriti Raut from LACM and Swostika Sapkota from NCTTM finished second and third respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman""> The Futsal Tournament was also organized under YTQ 2021 on 19th April 2021, wherein Global Academy of Tourism and Hospitality Education (Boys) and Global International College (Girls) became champions defeating LACM and NCTTM respectively in the final. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">Owing to the increasing COVID cases and complying with the recent decision by the Government of Nepal, PATA Nepal Chapter said it has decided to postpone the "YTP Chefs Competition" of PATA YTQ2021, which was supposed to be held on April 24th, 2021 under the theme "Exploring Authentic Nepali Cuisine", the A press statement released by PATA read.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times">Youth Talent Quest (YTQ) is <span style="font-family:"Times New Roman"">an annual event by PATA Nepal Chapter, engaging Young Tourism Professionals (YTPs) that provides a platform among the students from PATA Nepal Chapter member colleges to compete and showcase their multifaceted talents, knowledge, and skills, the organiser said in a statement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">The annual event aims to uncover talented young tourism professionals and further empower them with the necessary training, involvement, and exposure to PATA Nepal Chapter programs and activities, and engaging them in the best possible way to carve their successful future endeavors, the statement added. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13056', 'image' => '20210423100044_1.jpg', 'article_date' => '2021-04-23 09:59:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13310', 'article_category_id' => '1', 'title' => 'Nepal and Thailand to Promote Religious Tourism', 'sub_title' => '', 'summary' => 'April 22: Nepal and Thailand have agreed to cooperate with each other for promoting religious tourism. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">April 22: Nepal and Thailand have agreed to cooperate with each other for promoting religious tourism. Nepal Tourism Board’s Chief Executive Officer (CEO) Dr Dhananjay Regmi and Thailand’s Ambassador to Nepal Vosita Vorasaph during a meeting held on Tuesday, April 20, emphasized that the two countries will work together for the promotion of tourism in each other's countries.<br /> During the meeting, they discussed the increasing number of religious tourists coming to Nepal from Thailand and vice versa.<br /> Likewise, Regmi informed that Nepal is the birthplace of Gautam Buddha, and as Thailand is a Buddhist country, Nepal is a religious tourist destination for the Thai population.<br /> Stating that around 3,000 Thai tourists visit Lumbini, the birthplace of Gautam Buddha, annually, CEO Regmi said that the board is taking initiative to take Thai tourists to other places associated with the Buddha.<br /> "Work is being done to connect Kapilvastu and Ramgram with Lumbini in line with the concept of Buddha Circuit. It will also help tourists to know about Buddha and prolong their stay, according to Regmi. Stating that the government media in Thailand and the government media in Nepal can work together to promote Nepal in Thailand, Regmi said that the two friendly nations will take initiatives to promote religious tourism.<br /> During the meeting, the Thai Ambassador informed that the religious and cultural relations between Nepal and Thailand are good and Lumbini is a major attraction for Thai tourists. He said that the number of Thai tourists could increase after the construction of Gautam Buddha International Airport in Lumbini.<br /> He also said that he was positive to promote Nepal in Thailand.<br /> During the meeting, discussions were held on the continuation of the friendly visit programmes of the diplomats of the two countries and the exchange of good tourism practices.<br /> Given the recent state of Covid-19, the two countries have agreed to emphasize cooperation and promotion. Thailand is one of the top 10 tourist destinations for Nepalis.<br /> Meanwhile, 41,653 Thai tourists visited Nepal in 2019.</span></span></p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13055', 'image' => '20210422053514_IMG_3845(1).jpg', 'article_date' => '2021-04-22 17:34:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13309', 'article_category_id' => '1', 'title' => 'Shipping Companies Hike Fare Arbitrarily', 'sub_title' => '', 'summary' => 'April 22: Shipping companies providing transportation services to Nepali businessmen for overseas trade have hiked their fare arbitrarily.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 22: Shipping companies providing transportation services to Nepali businessmen for overseas trade have hiked their fare arbitrarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Nepali importers complain that the shipping companies have raised the fares by almost four folds.<br /> Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry of Province 2, claimed that the shipping companies have increased the fares up to four times in the last seven months. He said that the transportation cost per container from China and European countries used to be US$ 1,500 before last September, but now it has been increased to US$ 6,000.<br /> Earlier, the shipping companies had been transporting 40-feet long containers to the dry port of Birgunj for US$ 1,500. “Shipping companies have increased container fares to make the best out of the growing production and trade after the lockdown. This has increased the cost of imported goods and also the local products,” said Lath.<br /> Entrepreneurs claim that consumer prices have been affected due to the increase in the transportation cost of imported goods. Prices of food and other daily necessities have skyrocketed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Although production and trade had declined with the onset of the coronavirus pandemic, demand has risen as conditions have returned to normalcy.<br /> Trade with third countries has also improved since Nepal lifted the lockdown in last September.<br /> Importer Navneet Agrawal said that the shipping companies raised the fare to gain from the growing demand for transportation with the growth in volume of trade.<br /> “Foreign trade, which came to a halt during the lockdown, naturally increased as it became convenient after lockdown was lifted. On this occasion, the shipping companies increased the fare,” Agrawal informed New Business Age.<br /> This not only increased the price of products but also the cost of domestic production with the growth in the price of imported raw materials.<br /> Importer Om Prakash More shared that the shipping companies have been increasing the fare every week.</span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepal’s Consulate in Kolkata is not aware of the increase in container fares. However, Consul General Ishwar Raj Poudel said that the shipping companies have not made any formal/ informal announcement about the change in price.<br /> "Importers have not reported any increase in fares so far. If anyone informs us about such a problem, we are always ready to facilitate them,” said Poudel.<br /> President Lath has urged the government to take initiative to reduce the fare.<br /> "Shipping companies do not heed importer requests. The solution will only come out if the government takes effective initiative. The government could reduce fares by taking a policy of incentives for low-cost shipping companies," he added.<br /> "The trade, which had come to a standstill during the coronavirus pandemic, has grown in recent times. As trade increased, so did the demand for containers. This is an opportunity for shipping companies to make fast money,” said More.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13054', 'image' => '20210422052840_20201015050305_1602718767.Clipboard09.jpg', 'article_date' => '2021-04-22 17:27:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13308', 'article_category_id' => '1', 'title' => 'Ministries Dissatisfied Over Budget Ceiling', 'sub_title' => '', 'summary' => 'April 22: Ministries have expressed dissatisfaction over the budget ceiling set by the National Planning Commission (NPC) for the upcoming fiscal year (FY 2021/22).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 22: Ministries have expressed dissatisfaction over the budget ceiling set by the National Planning Commission (NPC) for the upcoming fiscal year (FY 2021/22).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The ministries are dissatisfied since the NPC has set the ceiling with a slight increase only compared to the last fiscal year, assessing that the government's possible measures to contain the second wave of coronavirus might adversely affect government resources.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministries including Agriculture and Livestock Development, Urban Development, Physical Infrastructure and Transport, Energy, Water Resources and Irrigation, Federal Affairs and General Administration have demanded to increase the limit saying it is extremely low. However, the NPC has not yet fixed the budget for all ministries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">During the pre-budget briefing initiated by Parliamentary Finance Committee from this week, ministries have said that they will be unable to bring new programmes under the ceiling set by the NPC. The Finance Committee of parliament had discussed the issue with the Ministry of Agriculture and Livestock Development (MoALD) during the briefing. The ministry has got a budget ceiling of Rs 36.23 billion for the upcoming fiscal year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to Yogendra Kumar Karki, Secretary of MOALD, this budget will be insufficient even for the ongoing projects. He said that the new projects can’t be introduced within this ceiling and ongoing projects also can’t be covered sufficiently. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Energy Secretary Dinesh Kumar Ghimire said bigger hydropower projects and transmission line projects including Upper Tamakoshi-5, Jagadulla, Dudhkoshi, Sunkoshi-3, Trishuli-4, Noumure have been proposed for the next fiscal year but the budget would not be sufficient for these projects. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">“Projects related to production sector and rural hydropower and transmission projects don’t seem to get the budget,” he said. In such scenario, it is not possible to bring a new programme within the current ceiling.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The Ministry of Physical Planning and Infrastructure is also not satisfied with the budget ceiling. One of the officials informed that the ministry will not propose new projects in the coming fiscal year and has started preparations to complete the ongoing projects. He further added that the Ministry is preparing to propose the budget so that ongoing projects need not deal with resources crunch. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministry of Urban Development has also said that the proposed budget is not enough even for ongoing projects. It has proposed a dozen of programmes with the budget estimate of Rs 13.32 billion. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministry of Federal Affairs and General Administration has also asked to increase the budget ceiling. NPC has set a budget ceiling of Rs 46.12 billion for the ministry. Of it, Rs 16.53 billion has been fixed for current expenditure while Rs 29.59 billion has been set for capital expenditure. Secretary Eknarayan Aryal said there are many works that need to be done under this limit.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">He said that the programme proposed by the government to connect all local units to district centers alone require a budget of Rs 1.5 billion. He said more funds are required to build local level administrative building. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Grants are provided to rural municipalities, municipalities and sub-metropolitan cities on behalf of the Federal Ministry to build local administrative buildings. The budget ceiling is insufficient as village council needs 60 percent, municipality needs 50 percent, and sub-metropolis needs 40 percent of the grant.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Though the ministries are dissatisfied over the budget ceiling for the upcoming fiscal year, they have been incapable of spending the current budget. The budgets of the ministries have been returned back as they have not been able to spend the budget on the allocated projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13053', 'image' => '20210422125513_1618956635.1.jpg', 'article_date' => '2021-04-22 12:54:38', '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 local entrepreneurs and vendors complained that their business was halted since 2020, after the emergence of COVID-19 in the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Prabin Giri, owner of Felt Mart Industry in Thamel, said, “The business is nil. I opened a shop to spend my free time since I have no other works to do. Showroom of Felt Mart Industry at Thamel used to do transaction of Rs 12,000 to Rs 15,000 a day before COVID-19 hit the business. Along with decline in retail transaction, the export volume has also gone down. Its current export accounts for 30 percent of the previous export volume. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Germany, Denmark and the UK are its major export markets. The two factories of Felt Mart Industry located at Sitapaila and Gwarko have also cut down production following the drop in the demand from the foreign countries. Previously, those factories used to provide employment to 60-70 people, which has now been reduced to 20. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Thamel area, which would otherwise be filled with foreign tourists, now wears a deserted look. Most of the shutters are pulled down and a very few tourists can be seen on the roads.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">It has been more than a year since the country suffered from more than four months of protracted lockdown. Although the other sectors are gradually bouncing back with fear of second of wave of coronavirus, Thamel area is still reeling through the extreme impacts of COVID-19. Until and unless the number of tourists goes up, the business of Thamel shops is not expected not pick up pace. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">A report of Nepal Rastra Bank states that 32,997 tourists came to Nepal in the last three months of 2021. This gradual surge in the number of tourists had made the shop owners in Thamel enthusiastic but it was short-lived.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"> “The streets of Thamel had also witnessed some tourism-related activities with the rise in number of tourists, but it could not last long,” said Giri. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">In the year 2020, Nepal welcomed 230,085 tourists, according to the data provided by the Department of Immigration.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Madhu Dhungana, owner of Chomolungma Outdoor Gear Pvt Ltd, said if this pandemic exists for some more months, we might have to exit from the market. He further opined that lockdown is not the solution to this crisis. He suggests all people should take necessary measures. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">If it were the normal times, Dhungana would have been busy selling outdoor gears for trekking. This is the peak time for the trekking and mountaineering expedition in the country. He is sustaining his business so far selling trekking items on sale to the local customers. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">According to the Department of Tourism, 82 expedition teams have been issued permits for the spring season of 2021. Meanwhile no permits were issued in the year 2020.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">Nepal Book Depot, a book shop which is located besides Kathmandu Guest House, the oldest hotel of Thamel, also shares a similar story. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt">“We used to do daily transactions of Rs 20,000 Rs 30,000 daily at the peak time which is nil now,” says Ganesh Karki, adding, “Foreign tourists are our major customers, and domestic customers rarely come here to purchase books.” </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13067', 'image' => '20210428011247_20201214121412_20200828035107_20171127050546_thamel.jpg', 'article_date' => '2021-04-28 13:12:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '13321', 'article_category_id' => '1', 'title' => ' Mt Everest Ascent Sees Enthusiastic Participation', 'sub_title' => '', 'summary' => 'April 28: Despite the recent surge in Covid-19 cases, as many as 294 summiteers of 42 groups have been granted permission for climbing the world's highest peak, Mount Everest, this year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 28: Despite the recent surge in Covid-19 cases, as many as 294 summiteers of 42 groups have been granted permission for climbing the world's highest peak, Mount Everest, this year. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">According to the state-owned national news agency, RSS, this is so far the highest number of groups receiving permit for climbing the highest peak. RSS made such claim citing the Department of Tourism under the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS"">This is slightly higher than the number of climbers getting permission for climbing in the year 2019, RSS further reported. Only 41 groups of mountaineers had obtained permission to climb Mount Everest in 2019. </span><br /> <span style="font-family:"Arial Unicode MS"">The number is still likely to go up this time as there is possibility for more climbers to turn up to seek permission. According to the department, 82 mountaineering groups, including 42 groups for Mount Everest have received permits. </span><br /> <span style="font-family:"Arial Unicode MS"">The second highest number of mountaineers obtaining permission is 13 for the ascent of the Lhotse, RSS further said. Five groups have obtained permission for climbing the Mt Dhaulagiri while eight have got permission to scale Mt Annapurna. </span><br /> <span style="font-family:"Arial Unicode MS"">According to RSS, climbing of Mount Everest would start this week if the weather remains favourable. It may be noted that the ascent of the highest peak had been postponed for the summer season of 2020 due to COVID-19 pandemic. The mountaineering sector was reopened on May 13, 2020.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Revenue collection from royalty for climbing mountains in the summer season has reached Rs 530 million so far, according to the Mountaineering Section under the Department of Tourism. The year 2021 has remained enthusiastic in terms of royalty collection which amounted. </span></span></span></p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13066', 'image' => '20210428112643_20210219104343_20201108030120_Contribution of Mountains to the Tourism Economy_1.jpg', 'article_date' => '2021-04-28 11:26:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '13320', 'article_category_id' => '1', 'title' => 'Government Bans Foreigners from Using TIA as Transit Airport', 'sub_title' => '', 'summary' => 'April 28: Authorities in Nepal have banned travellers from using Tribhuvan International Airport (TIA) as transit point. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 28: Authorities in Nepal have banned travellers from using Tribhuvan International Airport (TIA) as transit point. The Department of Immigration imposed the ban effective from April 28.</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 Tuesday (April 27), the department said that the government has restricted the arrival of foreigners intending to travel to third countries via Tribhuvan International Airport as a transit airport from April 28 considering the risk of Covid-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS"">However, the ongoing services provided to travelers arriving in Nepal as the final destination and departure from Nepal would continue unhindered, reads the statement.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">Of late, Indian tourist had been visiting Nepal before travelling to third countries following a ban on air transportation in the neighbouring country in the wake of recent surge in Covid-19 cases. The Indian Embassy in Kathmandu has issued travel advisory to its citizens after the Department of Immigration issued the statement.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-28', 'modified' => '2021-04-28', 'keywords' => '', 'description' => '', 'sortorder' => '13065', 'image' => '20210428111434_20200922040433_20200310105652_aaa.jpg', 'article_date' => '2021-04-28 11:13:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '13319', 'article_category_id' => '1', 'title' => 'Deposit Collection of Commercial Banks Declines', 'sub_title' => '', 'summary' => 'April 27: With the start of the Nepali New Year, deposit collection of banking institutions has been affected due to low interest rate. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 27: With the start of the Nepali New Year, deposit collection of banking institutions has been affected due to low interest rate. In the first two weeks of Baishakh (mid-April to April end), deposit collection of 27 commercial banks has continuously declined. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Bankers say that customers may have shifted towards development banks, finance companies and cooperatives because they offer attractive interest rate than commercial banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to the data published by Nepal Banker's Association on Monday, April 26, deposit collection has declined by Rs 392 billion in the first week of Baishakh and further declined by Rs 5 billion in the second week.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The credit flow which was continuously increasing until late last year declined by Rs 8 billion and was limited to Rs 356 billion. However, there was an increment in the second week. The credit flow increased by Rs 17 billion to Rs 358 billion. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ganeshraj Pokhrel, CEO of Citizens Bank International, said the relocation of customers to other group of banks has brought a decline in the deposit collection. “Customers have not withdrawn from banks to buy food items fearing food shortage. The facility of digital banking allows them to do so at anytime. Many development banks, cooperative are offering attractive interest rate which has lured customers towards them,” he adds.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Most of the banks raised the CCD ratio to 85 percent as prescribed by the Nepal Rastra Bank and they have also increased the interest rate on deposit to 8.5 percent. However, CCD ratio of most of the commercial banks is still low and they haven’t increased the interest rate either. That's why it is assumed deposits have been shifted to developments banks.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to NRB, CCD ratio of overall commercial banks is at 78.77 percent. "Average CCD ratio is 77%. If the government spends development budget in the fourth quarter, money is expected to come into banking system but it is feared to be affected by COVID-19 as the businesses affected by the second wave might seek for waivers," said Pokhrel. That's why profit of the banking institutions might not be as good as expected in the fourth quarter.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13064', 'image' => '20210427021438_20201216032922_20200419015315_bank-malware.jpg', 'article_date' => '2021-04-27 14:14:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '13318', 'article_category_id' => '1', 'title' => 'Surge in Covid-19 Cases Affects International Flights', 'sub_title' => '', 'summary' => 'International flights to and from Nepal’s Tribhuvan International Airport (TIA) have been affected due to the recent surge in coronavirus cases in the country and neighbouring India.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">International flights to and from Nepal’s Tribhuvan International Airport (TIA) have been affected due to the recent surge in coronavirus cases in the country and neighbouring India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a source at the Civil Aviation Authority of Nepal (CAAN), the state-owned Nepal Airlines Corporation and Air India are considering to suspend flights between the two countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The official said on condition of anonymity that other international airline companies operating in Nepal were also opting to either reduce the number of flights or to stop operation due to the surge in coronavirus infection in the region. Only 20 international flights carrying a total of 2,300 passengers were operated on April 25 from the Tribhuvan International Airport.<br /> On Sunday, 50 Nepalis visited India through this airport, while 63 passengers from India arrived in Nepal. According to the office, altogether 2,000 people from abroad arrived in Nepal on Sunday. There were 22 flights on Saturday.<br /> Currently, Nepal Airlines, Himalayan Airlines, Air India, Al Jazeera Airways, Air Arabia, Qatar Airlines, Air China, Turkish Airlines, Silk, Fly Dubai operate international flights to and from Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Thai Airlines has suspended flights since last year's lockdown. The alarming situation of Covid-19 in India has made airline companies more cautious, and Nepal-India flights have been reduced significantly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Flights between Nepal and India the are operated only by Nepal Airlines and Air India under the air-transport bubble agreement. Until a few weeks ago, Indians used to arrive in Nepal to stay in hotel quarantine.<br /> Due to this, the occupancy of hotels grew slightly as the Indians arrived here for quarantine before flying to the Gulf countries. A week ago, 500 Indians came to Nepal daily, but since April 25, the number has dropped dramatically.<br /> Although the government had banned such visitors from coming to Nepal on April 25, it revoked the decision a day later.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">On Monday, the Ministry of Health and Population issued a notice urging all the visitors who arrived in Nepal to undergo a PCR test.<br /> Thai Airlines suspended its flights to Nepal due to internal reasons. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Even though no company has officially announced that it will stop flying to Nepal so far, there is a possibility that Indian Airlines will halt its operation to Nepal, according to a government source.<br /> Stating that there are two reasons for this, the source said, "Some time ago, Indians used to come to Nepal and go to other countries. Now, it is clear that Nepal-India flights are declining as Indians are more affected by the pandemic."<br /> As the coronavirus infection is on the rise in Nepal, other international airlines are likely to reconsider flights to Nepal, the official added.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13063', 'image' => '20210427013836_20210402114024_EHdVeZuVAAArjYS.jpg', 'article_date' => '2021-04-27 13:37:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '13317', 'article_category_id' => '1', 'title' => 'Government to Impose Week-long Prohibitory Order in Kathmandu Valley', 'sub_title' => 'All but essential services to be shut until May 5', 'summary' => 'April 27: The government has decided to enforce a week-long prohibitory order in Kathmandu valley effective from Thursday midnight.', 'content' => '<p><span style="font-size:12px"><span style="font-family:Arial,Helvetica,sans-serif"><em>An aerial view of the Kathmandu Valley in this file photo.</em></span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">April 27: The government has decided to enforce a week-long prohibitory order in Kathmandu valley effective from Thursday midnight.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">Once the prohibitory order comes into effect, all but essential services will come to a halt. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The move is an attempt to curb the spread of coronavirus infection that has spiraled in the past few weeks. <br /> A joint meeting of the Chief District Officers of Kathmandu, Bhaktapur and Lalitpur on Monday (April 26) decided to shut down all services except essential ones. The meeting also decided to strictly monitor the flow of people into the valley.</span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">All gatherings including seminars, and conferences have been banned, while entertainment centres, cinema halls, gym, sports clubs, libraries, museums and zoo will also remain closed. <br /> In case of marriages, the authorities have decided to allow a maximum of 15 people attend the function. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">As per the decision, only vehicles carrying essential goods as well as ambulances carrying sick people, and those used by health workers and security persons will be allowed to ply on the streets. Government vehicles will require permits issued by the concerned ministry. <br /> The meeting has decided to allow grocery shops remain open until 10 in the morning and 5 to 7 in the evening. However, they need to follow the prescribed health protocols. </span></span></p> <p><span style="font-family:Arial,Helvetica,sans-serif"><span style="font-size:16px">The prohibitory order will remain in force until May 5. During this period, anyone entering the Kathmandu valley will have to stay in quarantine and home isolation as prescribed by the concerned local level. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-27', 'modified' => '2021-04-27', 'keywords' => '', 'description' => '', 'sortorder' => '13062', 'image' => '20210427102436_20200903113103_1599056781.jpg', 'article_date' => '2021-04-27 10:22:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '13316', 'article_category_id' => '1', 'title' => ' Finance Minister Pledges to Address Genuine Concerns of Entrepreneurs ', 'sub_title' => '', 'summary' => 'April 25: Finance Minister Bishnu Prasad Poudel has said that maximum efforts would be made to accommodate the genuine concerns and recommendations of the youth entrepreneurs in the upcoming fiscal year's annual budget. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Cambria"><span style="font-family:"Arial Unicode MS"">April 25: Finance Minister Bishnu Prasad Poudel has said that maximum efforts would be made to accommodate the genuine concerns and recommendations of the youth entrepreneurs in the upcoming fiscal year's annual budget. </span><br /> <span style="font-family:"Arial Unicode MS"">Receiving feedback from youth entrepreneurs on the new budget on Saturday, the finance minister assured to meet the demands of the entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS"">He, however, said that he cannot make public what are the genuine issues and are possible to be incorporated in the budget since he was in the process of budget making. The minister added that the incumbent government was in favour of the youth entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS"">On the occasion, Minister Poudel underscored the need to prepare the budget in a new manner based on the lessons learnt from COVID-19 and its impacts. </span><br /> <span style="font-family:"Arial Unicode MS"">He was of the view that some policy-level reforms were needed for the recovery of the country's economy. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-04-25', 'modified' => '2021-04-25', 'keywords' => '', 'description' => '', 'sortorder' => '13061', 'image' => '20210425100924_20210110034934_1610265858.jpg', 'article_date' => '2021-04-25 10:08:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '13315', 'article_category_id' => '1', 'title' => 'Import of Gold up in the Market', 'sub_title' => '', 'summary' => 'April 25: Nepal imported more gold in between mid-March and mid-April of the current fiscal year than the average import in other months.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 25: Nepal imported more gold in between mid-March and mid-April of the current fiscal year than the average import in other months. In other months of the current year, gold worth Rs 2.14 billion in average was being bought into the country from abroad. However, in April, gold worth Rs 3.27 billion was imported.<br /> According to the data released by the customs department, 460 kg of gold has entered Nepal in the review month. On an average, 300 kg of gold has been imported each month this year.<br /> <br /> However, according to the customs department, the import of gold has surged between mid-March and mid-April. It is due to the wedding season. In Nepal, the number of weddings is higher in the months of April and May.<br /> Marriages in Nepal are believed to be incomplete without gold. Due to this belief, gold consumption is high in Nepal during the wedding season. Therefore, gold imports have been increasing in April.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">President of the Federation of Nepal Gold and Silver Dealers Association Manika Ratna Shakya said that the import of gold has increased due to the wedding season. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">"Gold consumption is higher in April due to the wedding season. Given the same situation, we have increased the import of gold than in the previous month," he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">He said that more than 500 kg of gold has been imported in the first week of April alone. Shakya estimates that the gold business is likely to go up if the surge in coronavirus remains under control.<br /> The import volume of gold has been increased from 10 kg per day to 20 kg compared to last April. <br /> Commercial banks enjoy the right to import gold in Nepal. Banks have been importing gold in collaboration with the Federation of Nepal Gold and Silver Dealers Association.<br /> In the current fiscal year, gold worth Rs 19.31 billion has been shipped in, which is 43.46 percent more than the corresponding period of last year.<br /> According to the customs department, gold entrepreneurs have imported 2,760 kg of gold in the current fiscal year.<br /> Gold business in Nepal had come to a standstill during the start of the current fiscal year as the economy was hit by the coronavirus pandemic and the price of gold had also skyrocketed. However, import of gold is on the rise recently due to the open market demand.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-04-25', 'modified' => '2021-04-25', 'keywords' => '', 'description' => '', 'sortorder' => '13060', 'image' => '20210425100433_20201203030905_1606953115.Clipboard16.jpg', 'article_date' => '2021-04-25 10:03:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '13314', 'article_category_id' => '1', 'title' => 'UN Association of Nepal Launches Book Consisting Articles of 25 Eminent Personalities', 'sub_title' => '', 'summary' => 'April 24: The UN Association of Nepal organized a book launch programme at Hotel Yellow Pagoda, Kathmandu, on April 22. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 24: The UN Association of Nepal organized a book launch programme at Hotel Yellow Pagoda, Kathmandu, on April 22. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The book entitled ‘Nepal’s Foreign Policy and United Nations’ consisting of 25 articles by eminent personalities like foreign secretary, former foreign secretaries, former ambassadors, academics and intellectuals was launched by Nepal’s Foreign Minister Pradeep Kumar Gyawali. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">The programme was chaired by Associate Professor Dambar Bir Thapa, president of the association.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to a statement issued by the association, its Co-President Radhesh Pant delivered the welcome speech, while Professor Dr Mohan P Lohani, a former ambassador, thanked the contributors for their cooperation in making the publication possible on time. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Dr Nishchal Nath Pandey, director of Center for South Asian Studies, reviewed the book and congratulated the association for bringing out the book to coincide with the 75th anniversary of the UN and the 65th anniversary of Nepal’s UN membership.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Nepal’s Foreign Secretary Bharat Raj Paudyal highlighted the salient features of Nepal’s foreign policy and lauded the UN for its role in dealing with issues pertaining to sustainable development, climate change and financing for development, among others. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">According to the association, Chief Guest Foreign Minister Gyawali distributed certificates of appreciation to the contributors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-24', 'modified' => '2021-04-24', 'keywords' => '', 'description' => '', 'sortorder' => '13059', 'image' => '20210424075928_les-nacio.jpg', 'article_date' => '2021-04-24 19:58:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '13313', 'article_category_id' => '1', 'title' => 'FDI Lower than Expected', 'sub_title' => 'In two and a half decades, Nepal has only received Rs 110 billion.', 'summary' => 'April 23: Although Nepal expects to attract a large amount of foreign direct investment (FDI), the actual investment has been marginal. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 23: Although Nepal expects to attract a large amount of foreign direct investment (FDI), the actual investment has been marginal. However, the country has been holding investment conferences to attract huge FDIs but has only received Rs 110 billion so far, which is 34.1 percent of the total commitment amount. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Although foreign investors have expressed their intention and commitment to bring billions of rupees to Nepal in investment conferences held at different times, it seems that the country has received very little investment. A report on 'Foreign Direct Investment in Nepal' released by Nepal Rastra Bank on April 21 shows that the investment received by Nepal is not in accordance to the investment approved by the foreign investors.<br /> From FY 2052/53 to FY 2076/77, Nepal has approved FDIs of Rs 325.52 billion. However, the actual investment received by the country is much less than the commitment made by the investors. The Department of Industry and the Investment Board of Nepal (IBN) register the projects comprising foreign investment. The amount received by the registered projects is also less. In some years, it has been observed that the outflow of money from the country seems to be more than the</span></span><span style="font-size:14.0pt"> inflow of investment.<br /> The government held an investment summit in March 2017 BS and 2019 to attract foreign investment.<br /> Likewise, the Confederation of Nepalese Industries (CNI), a private sector organization, held the 'Nepal Infrastructure Conference' in August 2018.<br /> Nepal is eager to attract foreign investment, but there are procedural and policy hurdles. Issues like investment security have discouraged investors to invest. Even if the foreign investment projects are registered and approved, not all investments come in the same year.<br /> For the first time, the government has made a provision to bring 100 percent amount of the approved investment within 1 to 2 years</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">By amending the Foreign Investment and Technology Transfer (FITTA) Rules-2077 BS.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Former Chief Executive Officer (CEO) of the Board of Investment Radhesh Pant said that regulation was made as the investors would not invest in the absence of a conducive environment.<br /> According to a survey conducted by the Central Bank in 2060/61, Nepal approved an FDI of Rs 2.76 billion but received zero investment.<br /> "South Asian countries like the Maldives and Bhutan have received more FDI than Nepal," added Panta.<br /> He said that even though the Investment Board was established to attract investment, but nothing has improved. He argues that the tendency of government not to consider the private sector as a partner is less likely to attract investment even by partnering with foreign investors.<br /> How will investors come when there are multiple hurdles, argues Pant. The government needs to facilitate investors' by making the compliance hassle-free from project registration to the field, he questioned.<br /> He suggests that the investment will only increase if the project bank shows that Nepal is safe for investment.<br /> According to the central bank, in some years, investors have taken away around 23 percent of the approved FDI, out of Nepal. In 2058/59, 23.3 percent of the investment approved by Nepal was taken back by foreign investors. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">According to the NRB report, 51.1 percent or half of the amount approved in Nepal in 2076/77 has already come in. This year, Rs. 38.15 billion has been approved, while Nepal has already received Rs. 19.47 billion.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13058', 'image' => '20210423103303_2-702x336.jpg', 'article_date' => '2021-04-23 10:32:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '13312', 'article_category_id' => '1', 'title' => 'Commercial Banks’ Lending Increases by 25%', 'sub_title' => '', 'summary' => 'April 23: The lending of commercial banks has increased by 25.63 percent in the last eight months of the current fiscal year compared to the corresponding period of the last fiscal year. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri">April 23: The lending of commercial banks has increased by 25.63 percent in the last eight months of the current fiscal year compared to the corresponding period of the last fiscal year. Though the COVID-19 has extremely affected the country’s economy as a whole, the business of banking institutions remains an exception. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">In the review period, 27 commercial banks have disbursed additional loans of Rs729 billion. With the increase in the lending, a total of Rs 3,573 billion loans have been disbursed until the month of April by the commercial banks. In the review period of the last fiscal year, banks had given loan of Rs 2,844 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Commercial banks were operating partially for three months since the lockdown was imposed on March 24 last year. Yet, the business of commercial banks has been satisfactory. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lately, rise of COVID-19 cases and approaching second wave of the virus has presented challenges to the expansion of the business, says Bhuwan Kumar Dahal, president of Nepal Bankers’ Association. He expressed concern that most of the businesses might get affected again. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Mahesh Sharma Dhakal, Deputy CEO of Global IME Bank, said apart from the tourism industry, loans have been disbursed in other sectors and therefore the situation is not so discouraging so far. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Lending of the banking institutions has gradually improved. NIC Asia has the highest total lending among the banks. NIC Asia Bank had announced various schemes from the beginning of the current fiscal year to attract borrowers. The bank has increased loans to the borrowers by 48.48 percent in the current fiscal year. With the increase in lending, the total lending of the bank has reached Rs 259 billion. Until the corresponding period of the last fiscal year, it had extended loan of Rs 175 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Mega Bank is second in the list of banks to have increased the lending in the review period of the current fiscal year. Mega Bank has increased its lending by 69.86 percent in the review period and disbursed credit amount of Rs 138 billion.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Kumari Bank has succeeded to disburse loan of Rs 43.2 billion and its total lending amount has reached to Rs 134 billion. Similarly, Nabil Bank has extended its lending by 27.88 percent and disbursed total loan of Rs 193 billion. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">During the COVID-19 pandemic, Prabhu Bank, Citizens International Bank, Global IME Bank have extended an additional loan of Rs 40.86 billion, Rs 37.93 billion and Rs 34.39 billion respectively. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Global IME Bank has increased its total loan facility by 17.10 percent to Rs 235 billion. During the COVID-19 pandemic it had provided Rs 201 billion loan in the corresponding period of the last fiscal year.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">Dhakal, Deputy CEO of the Global IME Bank, said the bank has not been able to increase the loan as expected in one year but it is satisfactory. He said that the bank still has sufficient capital for investment. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri">“If there were enough economic activities, it would require investment in infrastructure and demand for raw materials would increase accordingly. The rise in economic activities would give a boost to lending however, the lending flow is still satisfactory,” Dhakal said. </span></span></p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13057', 'image' => '20210423101552_20200601032952_bank lending.jpg', 'article_date' => '2021-04-23 10:15:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '13311', 'article_category_id' => '1', 'title' => 'PATA Nepal Chapter organizes the fourth PATA Youth Talent Quest ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">April 23: PATA Nepal Chapter organized the 4th PATA Youth Talent Quest (YTQ 2021) in collaboration with PATA Nepal Student Chapter, and support from various organizations and sponsors. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">The PATA Nepal Chapter introduced five key competitions under PATA YTQ 2021that include Public Speaking Competition, Tourism and Hospitality Quiz, PATA Futsal Tournament, Content Writing Competition and YTP Chefs Competition. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">The YTQ 2021 kicked off with Public Speaking Competition on 16th April 2021 at GATE College, Mandikhatar. According to PATA Nepal, Samikchha Bhattarai from GATE College was announced the winner of the Public Speaking Competition. Similarly, Sijal Kunwar from NATHM College and Sudha Shakya from GCI were declared as 1st and 2nd runners up respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">Similarly, the "Tourism and Hospitality Quiz" was held on 17th April 2021 at Mid-Valley Int'l College. Nepal Academy of Tourism and Hospitality (NATHM), Kathmandu Academy of Tourism and Hospitality (KATH), and Mid-Valley International College (MVIC) secured the top three positions in the competition respectively. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"> <span style="font-family:"Times New Roman"">Likewise, the "Content Writing Competition" held on 18th April 2021 at GCI College, Mid-Baneshwor. Anushka Pradhan from NATHM was delcared the Winner, while Akriti Raut from LACM and Swostika Sapkota from NCTTM finished second and third respectively.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman""> The Futsal Tournament was also organized under YTQ 2021 on 19th April 2021, wherein Global Academy of Tourism and Hospitality Education (Boys) and Global International College (Girls) became champions defeating LACM and NCTTM respectively in the final. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">Owing to the increasing COVID cases and complying with the recent decision by the Government of Nepal, PATA Nepal Chapter said it has decided to postpone the "YTP Chefs Competition" of PATA YTQ2021, which was supposed to be held on April 24th, 2021 under the theme "Exploring Authentic Nepali Cuisine", the A press statement released by PATA read.</span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times">Youth Talent Quest (YTQ) is <span style="font-family:"Times New Roman"">an annual event by PATA Nepal Chapter, engaging Young Tourism Professionals (YTPs) that provides a platform among the students from PATA Nepal Chapter member colleges to compete and showcase their multifaceted talents, knowledge, and skills, the organiser said in a statement. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Times"><span style="font-family:"Times New Roman"">The annual event aims to uncover talented young tourism professionals and further empower them with the necessary training, involvement, and exposure to PATA Nepal Chapter programs and activities, and engaging them in the best possible way to carve their successful future endeavors, the statement added. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-23', 'modified' => '2021-04-23', 'keywords' => '', 'description' => '', 'sortorder' => '13056', 'image' => '20210423100044_1.jpg', 'article_date' => '2021-04-23 09:59:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '13310', 'article_category_id' => '1', 'title' => 'Nepal and Thailand to Promote Religious Tourism', 'sub_title' => '', 'summary' => 'April 22: Nepal and Thailand have agreed to cooperate with each other for promoting religious tourism. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">April 22: Nepal and Thailand have agreed to cooperate with each other for promoting religious tourism. Nepal Tourism Board’s Chief Executive Officer (CEO) Dr Dhananjay Regmi and Thailand’s Ambassador to Nepal Vosita Vorasaph during a meeting held on Tuesday, April 20, emphasized that the two countries will work together for the promotion of tourism in each other's countries.<br /> During the meeting, they discussed the increasing number of religious tourists coming to Nepal from Thailand and vice versa.<br /> Likewise, Regmi informed that Nepal is the birthplace of Gautam Buddha, and as Thailand is a Buddhist country, Nepal is a religious tourist destination for the Thai population.<br /> Stating that around 3,000 Thai tourists visit Lumbini, the birthplace of Gautam Buddha, annually, CEO Regmi said that the board is taking initiative to take Thai tourists to other places associated with the Buddha.<br /> "Work is being done to connect Kapilvastu and Ramgram with Lumbini in line with the concept of Buddha Circuit. It will also help tourists to know about Buddha and prolong their stay, according to Regmi. Stating that the government media in Thailand and the government media in Nepal can work together to promote Nepal in Thailand, Regmi said that the two friendly nations will take initiatives to promote religious tourism.<br /> During the meeting, the Thai Ambassador informed that the religious and cultural relations between Nepal and Thailand are good and Lumbini is a major attraction for Thai tourists. He said that the number of Thai tourists could increase after the construction of Gautam Buddha International Airport in Lumbini.<br /> He also said that he was positive to promote Nepal in Thailand.<br /> During the meeting, discussions were held on the continuation of the friendly visit programmes of the diplomats of the two countries and the exchange of good tourism practices.<br /> Given the recent state of Covid-19, the two countries have agreed to emphasize cooperation and promotion. Thailand is one of the top 10 tourist destinations for Nepalis.<br /> Meanwhile, 41,653 Thai tourists visited Nepal in 2019.</span></span></p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13055', 'image' => '20210422053514_IMG_3845(1).jpg', 'article_date' => '2021-04-22 17:34:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '13309', 'article_category_id' => '1', 'title' => 'Shipping Companies Hike Fare Arbitrarily', 'sub_title' => '', 'summary' => 'April 22: Shipping companies providing transportation services to Nepali businessmen for overseas trade have hiked their fare arbitrarily.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">April 22: Shipping companies providing transportation services to Nepali businessmen for overseas trade have hiked their fare arbitrarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Times">Nepali importers complain that the shipping companies have raised the fares by almost four folds.<br /> Ganesh Prasad Lath, president of the Federation of Nepalese Chambers of Commerce and Industry of Province 2, claimed that the shipping companies have increased the fares up to four times in the last seven months. He said that the transportation cost per container from China and European countries used to be US$ 1,500 before last September, but now it has been increased to US$ 6,000.<br /> Earlier, the shipping companies had been transporting 40-feet long containers to the dry port of Birgunj for US$ 1,500. “Shipping companies have increased container fares to make the best out of the growing production and trade after the lockdown. This has increased the cost of imported goods and also the local products,” said Lath.<br /> Entrepreneurs claim that consumer prices have been affected due to the increase in the transportation cost of imported goods. Prices of food and other daily necessities have skyrocketed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Although production and trade had declined with the onset of the coronavirus pandemic, demand has risen as conditions have returned to normalcy.<br /> Trade with third countries has also improved since Nepal lifted the lockdown in last September.<br /> Importer Navneet Agrawal said that the shipping companies raised the fare to gain from the growing demand for transportation with the growth in volume of trade.<br /> “Foreign trade, which came to a halt during the lockdown, naturally increased as it became convenient after lockdown was lifted. On this occasion, the shipping companies increased the fare,” Agrawal informed New Business Age.<br /> This not only increased the price of products but also the cost of domestic production with the growth in the price of imported raw materials.<br /> Importer Om Prakash More shared that the shipping companies have been increasing the fare every week.</span></span></span><br /> <span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepal’s Consulate in Kolkata is not aware of the increase in container fares. However, Consul General Ishwar Raj Poudel said that the shipping companies have not made any formal/ informal announcement about the change in price.<br /> "Importers have not reported any increase in fares so far. If anyone informs us about such a problem, we are always ready to facilitate them,” said Poudel.<br /> President Lath has urged the government to take initiative to reduce the fare.<br /> "Shipping companies do not heed importer requests. The solution will only come out if the government takes effective initiative. The government could reduce fares by taking a policy of incentives for low-cost shipping companies," he added.<br /> "The trade, which had come to a standstill during the coronavirus pandemic, has grown in recent times. As trade increased, so did the demand for containers. This is an opportunity for shipping companies to make fast money,” said More.</span></span></span></p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13054', 'image' => '20210422052840_20201015050305_1602718767.Clipboard09.jpg', 'article_date' => '2021-04-22 17:27:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '13308', 'article_category_id' => '1', 'title' => 'Ministries Dissatisfied Over Budget Ceiling', 'sub_title' => '', 'summary' => 'April 22: Ministries have expressed dissatisfaction over the budget ceiling set by the National Planning Commission (NPC) for the upcoming fiscal year (FY 2021/22).', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri">April 22: Ministries have expressed dissatisfaction over the budget ceiling set by the National Planning Commission (NPC) for the upcoming fiscal year (FY 2021/22).</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The ministries are dissatisfied since the NPC has set the ceiling with a slight increase only compared to the last fiscal year, assessing that the government's possible measures to contain the second wave of coronavirus might adversely affect government resources.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministries including Agriculture and Livestock Development, Urban Development, Physical Infrastructure and Transport, Energy, Water Resources and Irrigation, Federal Affairs and General Administration have demanded to increase the limit saying it is extremely low. However, the NPC has not yet fixed the budget for all ministries.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">During the pre-budget briefing initiated by Parliamentary Finance Committee from this week, ministries have said that they will be unable to bring new programmes under the ceiling set by the NPC. The Finance Committee of parliament had discussed the issue with the Ministry of Agriculture and Livestock Development (MoALD) during the briefing. The ministry has got a budget ceiling of Rs 36.23 billion for the upcoming fiscal year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">According to Yogendra Kumar Karki, Secretary of MOALD, this budget will be insufficient even for the ongoing projects. He said that the new projects can’t be introduced within this ceiling and ongoing projects also can’t be covered sufficiently. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Energy Secretary Dinesh Kumar Ghimire said bigger hydropower projects and transmission line projects including Upper Tamakoshi-5, Jagadulla, Dudhkoshi, Sunkoshi-3, Trishuli-4, Noumure have been proposed for the next fiscal year but the budget would not be sufficient for these projects. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">“Projects related to production sector and rural hydropower and transmission projects don’t seem to get the budget,” he said. In such scenario, it is not possible to bring a new programme within the current ceiling.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">The Ministry of Physical Planning and Infrastructure is also not satisfied with the budget ceiling. One of the officials informed that the ministry will not propose new projects in the coming fiscal year and has started preparations to complete the ongoing projects. He further added that the Ministry is preparing to propose the budget so that ongoing projects need not deal with resources crunch. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministry of Urban Development has also said that the proposed budget is not enough even for ongoing projects. It has proposed a dozen of programmes with the budget estimate of Rs 13.32 billion. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Ministry of Federal Affairs and General Administration has also asked to increase the budget ceiling. NPC has set a budget ceiling of Rs 46.12 billion for the ministry. Of it, Rs 16.53 billion has been fixed for current expenditure while Rs 29.59 billion has been set for capital expenditure. Secretary Eknarayan Aryal said there are many works that need to be done under this limit.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">He said that the programme proposed by the government to connect all local units to district centers alone require a budget of Rs 1.5 billion. He said more funds are required to build local level administrative building. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Grants are provided to rural municipalities, municipalities and sub-metropolitan cities on behalf of the Federal Ministry to build local administrative buildings. The budget ceiling is insufficient as village council needs 60 percent, municipality needs 50 percent, and sub-metropolis needs 40 percent of the grant.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri">Though the ministries are dissatisfied over the budget ceiling for the upcoming fiscal year, they have been incapable of spending the current budget. The budgets of the ministries have been returned back as they have not been able to spend the budget on the allocated projects.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri"> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-04-22', 'modified' => '2021-04-22', 'keywords' => '', 'description' => '', 'sortorder' => '13053', 'image' => '20210422125513_1618956635.1.jpg', 'article_date' => '2021-04-22 12:54:38', '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
